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Eurointelligence Displays Stunning Ignorance Regarding Target2

Eurointelligence Displays Stunning Ignorance Regarding Target2 On two recent days, Eurointellence made stunningly bad comments about the escalating capital flight from Italy. The latest Target2 Chart from the ECB is from May. Newer totals are available in some individual countries. Debtors, primarily Italy and Spain, now owe Germany close to €1 trillion. Realistically, this money […]

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Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges 

Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges  Contrary to ECB propaganda, Target2 imbalances are a direct result an unsustainable balance of payment system. The imbalances represent both capital flight and debts that can never be paid back. If you think Italy can pay German and other creditors a record […]

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There Are 66,719 Empty Mansions In Vancouver

There Are 66,719 Empty Mansions In Vancouver One year ago, when we first started discussing the Vancouver housing bubble, which as we first speculated – and was later confirmed – was the result of Chinese oligarch money-launderers parking “hot cash” in this offshore housing market (at least until a 15% property tax on foreign purchases made Seattle the […]

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Why Capital Is Fleeing China: The Crushing Costs of Systemic Corruption

Why Capital Is Fleeing China: The Crushing Costs of Systemic Corruption What China will be left with a poisoned land stripped of talent and capital. Corruption isn’t just bribes and influence-peddling: it’s protecting the privileges of the few at the expense of the many. Rampant pollution is corruption writ large: the profits of the polluters are being protected […]

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Will the Fed Have to Save Emerging Markets with QE4?

Will the Fed Have to Save Emerging Markets with QE4? The risk-off tide is rising, and sand castles of QE will only hold the tide back for a brief period of apparent calm. A funny thing happened on the way to permanently expanding global markets: unintended consequences. Borrowing cheap, abundant U.S. dollars seemed like a good […]

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People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight

People’s Bank of China Freaks Out, Devalues Yuan by Record Amount, Vows to “Severely Punish” Capital Flight Everything has started to go wrong in the Chinese economy despite its mind-bending growth rate of 7%. Exports plunged and imports too. Sales in the world’s largest auto market suddenly are shrinking just when overcapacity is ballooning. The […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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