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Gold – A Perfect Storm For 2019
Gold – A Perfect Storm For 2019 This article is an overview of the principal factors likely to drive the gold price in 2019. It looks at the global factors that have developed in 2018 for both gold and the dollar, how geopolitics are likely to evolve, the economic outlook and how it is worsened […]
ECB Confirms It Will End Asset Purchases, Will Reinvest Maturities In Full
ECB Confirms It Will End Asset Purchases, Will Reinvest Maturities In Full As expected, the ECB – which obviously is keeping its rates unchanged – confirmed it would end its asset purchases in December 2018, while clarifying for the first time that it would “continue reinvesting, in full, the principal payments from maturing securities purchased […]
Europe Struggles as the ECB Pretends to Know What It’s Doing
Europe Struggles as the ECB Pretends to Know What It’s Doing The European Central Bank (ECB) is rumored to be planning a halt to its four-year quantitative easing program at the end of this week when it will stop its asset purchases while continuing to keep interest rates at current near-zero levels through 2019. The […]
A Global Dearth of Liquidity
A Global Dearth of Liquidity Worldwide Liquidity Drought – Money Supply Growth Slows Everywhere This is a brief update on money supply growth trends in the most important currency areas outside the US (namely the euro area, Japan and China) as announced in in our recent update on US money supply growth (see “Federal Punch […]
QE Created Dangerous Financial Dependence, Italy Hooked, Withdrawal Next, ECB Warns
QE Created Dangerous Financial Dependence, Italy Hooked, Withdrawal Next, ECB Warns “Who will purchase the €275 billion of government debt Italy is to issue in 2019?” The ECB, through its army of official mouthpieces, has begun warning of the potentially calamitous consequences for Italian bonds when its QE program comes to an end, which is […]
Take Heed Italy, Brussels Doesn’t Care One Whit About You
Take Heed Italy, Brussels Doesn’t Care One Whit About You Watching the complete betrayal of Brexit by British Prime Minister Theresa “The Gypsum Lady” May is proving to be a wake up call for Italians. The latest polling results coming out of Italy show that while the populist coalition in Italy is unpopular in Brussels […]
The Eurozone Banks’ Trillion Timebomb
The Eurozone Banks’ Trillion Timebomb Eurozone banks have fallen dramatically in the stock market despite the results of the stress tests carried out by the ECB, and the EU Banks Index is down 25% on the year despite year-long bullish recommendations from almost every broker. This should not surprise anyone because we have seen in […]
The Coming Monetary Crisis
The Coming Monetary Crisis QUESTION: Mr. Armstrong, you said that next year, interest expenditure will most likely exceed military. Is this how the monetary crisis begins to unfold? WR ANSWER: The entire problem with this Quantitative Easing has been the plain fact that the government is the biggest debtor. This is the same model around […]
Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige
Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige Remember the Italian “doom loop”? Two months ago we reported that during the first Italian bond market freakout this May over the ascent of the populist due of Salvini-Di Maio to the Italian throne, Italian bank holdings of domestic government […]
Europe In Panic Mode Over Economy As USA Soars
Europe In Panic Mode Over Economy As USA Soars The eurozone’s economic growth rate has slumped to a four-year low. The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2%, the slowest rate in more than four years. With the 19-nation […]
Bundesbank warns of Coming Pension Crisis
Bundesbank warns of Coming Pension Crisis The Bundesbank has come out warning that there is a German pension crisis. They have proposed that states raise the pension tax and that they should gradually increase the retirement age because the life expectancy in the future has risen. Central Bank President, Jens Weidmann, has stated that he is generally in […]
The Italian people must understand that their country is at war
The Italian people must understand that their country is at war The conflict between the European Union and Italy is a full-blown financial war. Euro countries cannot print their own money and for that reason they cannot have an endless deficit. Countries within the eurozone have to live within their means or else, without the […]
Europe More Than Europe: From ‘Boom’ To The Precipice of Recession
Europe More Than Europe: From ‘Boom’ To The Precipice of Recession Data dependent, they claim. They aren’t. Mario Draghi at his last press conference admitted, “incoming information, [is] somewhat weaker than expected.” There is so much riding on the word “somewhat.” Because of the weasel, the head of the ECB told the assembled media policy […]
Why’s France so Worried about Italy’s Showdown with Brussels?
Why’s France so Worried about Italy’s Showdown with Brussels? The French megabanks are on the hook. France was just served with a stark reminder of an inconvenient truth: €277 billion of Italian government debt — the equivalent of 14% of French GDP — is owed to French banks. Given that Italy’s government is currently locked […]
