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4 Mainstream Media Articles Mocking Gold That Should Make You Think
4 Mainstream Media Articles Mocking Gold That Should Make You Think For those of you who have been reading my stuff since all the way back to my Wall Street years at Sanford Bernstein, thanks for staying along for the ride. I appreciate your support immensely considering that I essentially no longer write about financial markets […]
Austrian Bad Bank “Black Swan” Bail-In Is Unconstitutional, Austria Declare
Austrian Bad Bank “Black Swan” Bail-In Is Unconstitutional, Austria Declare The subject of bail-ins and bank resolutions is back in the news this month as every eurocrat in Brussels scrambles to determine the best way to recapitalize Greece’s ailing banking sector, which, you’re reminded, is sinking further into insolvency with each passing day thanks to […]
Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors
Greek Capital Controls To Remain For Months As Germany Pushes For Bail-In Of Large Greek Depositors Two weeks ago we explained why Greek banks, which Greece no longer has any direct control over having handed over the keys to their operations to the ECB as part of Bailout #3’s terms, are a “strong sell” at any price: […]
The Number One Lesson From Athens
The Number One Lesson From Athens There’s arguably nothing that’s been more hurtful -in more ways than one- to Greece and its Syriza government over the past six months, than the lack of support from the rest of Europe. And it’s not just the complete lack of support from other governments -that might have been […]
Citi Predicts Greek Hyperinflation Breaks Out In Two Years
Citi Predicts Greek Hyperinflation Breaks Out In Two Years Earlier, we showed that according to Citigroup (among many) for Greece to have any hope of surviving, it needs a masive debt haircut: the bigger, the better, with Citi tossing out numbers as high as €130 billion. Still, even if Greece does get debt relief, as long as […]
“Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome
“Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome A week ago, we said the following about the situation faced by Greek PM Alexis Tsipras when he and his new finance minister arrived in Brussels for the final round of bailout negotiations earlier this month: …the entire world looked on in horror […]
Germany Replacing Bank Cards and Eliminating Cash Withdrawals
Germany Replacing Bank Cards and Eliminating Cash Withdrawals The game is afoot to eliminate CASH. According to reliable sources, Maestro is seriously under attack. In Germany, Maestro was a multi-national debit card service owned by MasterCard and founded in 1992. Maestro cards obtained from associate banks and can be linked to the cardholder’s current account, or they can be used as prepaid cards. Already we […]
Greece Surrendered: But to Whom Exactly?
Greece Surrendered: But to Whom Exactly? On July 12, Greece surrendered abjectly and totally. Prime Minister Alexis Tsipras, who had promised to combat the austerity measure that are driving the Greek people to ruin, poverty and suicide, betrayed all his promises, denied the will of the people expressed in the July 5 referendum, and led […]
The Curse Of The Euro: Money Corrupted, Democracy Busted
The Curse Of The Euro: Money Corrupted, Democracy Busted The preposterous Gong Show in Brussels over the weekend was the financial “Ben Tre” moment for the Euro and ECB. That is, it was the moment when the Germans—–imitating the American military on that ghastly morning in February 1968——set fire to the Eurozone in order to save it. Some day history will […]
Balance Of Superpowers: Comparing The US And Chinese Armed Forces
Balance Of Superpowers: Comparing The US And Chinese Armed Forces Whether China is busy championing trade deals outside of the US dollar, buying up some of the world’s biggest companies, taking over foreign housing markets, or building massive networks of nuclear or wind power grids, it is clear that the country is a world power […]
Greece May Not Get Bailout, Grexit “The Better Way”, Schaeuble Says
Greece May Not Get Bailout, Grexit “The Better Way”, Schaeuble Says Last Saturday, the EU finance ministers who gathered in Brussels in a last ditch effort to keep Greece in the eurozone were forced to confront a rather inconvenient truth. A bailout for Athens would likely cost nearly €80 billion, far more than the €53 […]
The ‘Greek Debt Deal’ Is Already Starting To Fall Apart
The ‘Greek Debt Deal’ Is Already Starting To Fall Apart The “deal that was designed to fail” has already begun to unravel. The IMF, which was expected to provide a big chunk of the financing, has indicated that it may walk away from the deal unless Greece is granted extensive debt relief. This is something […]
Tsipras Stunner: Creditors Said “There Is No Point In Holding Elections” In Bailed Out Countries
Tsipras Stunner: Creditors Said “There Is No Point In Holding Elections” In Bailed Out Countries While Germany’s finmin Schauble is about to burst at few capillaries after reading the latest provocation from Tsipras in which he said, according to Reuters, that: GREEK PM TSIPRAS SAYS I SIGNED I DEAL I DO NOT BELIEVE IN BUT […]
IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief
IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief A divide between the IMF and Europe (read: Germany), regarding writedowns on Greece’s debt to the EU has been brewing for quite some time and recently returned to the international spotlight when, a few months back, the Fund indicated […]
