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| RATIOS & INDEXES |
| Gold / Silver | 63.37 |
| Gold / Oil | 13.79 |
| Dowjones / Gold | 11.18 |
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 | Articles related to European Union |  |
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 | Martin Masse - Le Quebecois libre |
 What austerity?  |
| In all the discussions in Europe about the consequences of so-called
"austerity," the only numbers presented as evidence that austerity
measures have been implemented consist of statistics indicating that
budget deficits have gone down during the past three years.
Indeed, they have. The average level of deficit as a percentage of GDP
in EU countries in 2012 is much lower (4%) than it was at the height of
the crisis in 2009 (6.9%).
For the Keynesian critics of austerityMonday, June 17, 2013 |
|
 | Mish - Global Economic Analysis |
| Do You Trust Banks? Country by County Comparison |
| Here is an interesting Gallup poll that came my way today from a friend "BC". The poll was taken last month. It shows European Countries Lead World in Distrust of Banks.
Thirteen percent of Greeks said they had confidence in their country's banks or financial institutions in 2012, leading the nearly all-European list of countries where trust in financial institutions was among the worst in the world last year. Seven European Union countries had trust levels lower than 30%, far below the medianMonday, June 17, 2013 |
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| Aubie Baltin |
| The Biggest Risk Is The One That Was Not Perceived To Exist |
| "The wicked encourage and give themselves a license
to commit all manner of transgressions, seeing that the fruit which
injustice yields is soon ripe, and offers itself easily to the
gatherer’s hand: Whereas punishment comes later, lagging long behind the
pleasure of enjoyment."
-Plutarch
THE BIGGEST RISK IS THE ONE THAT
WAS NOT PERCEIVED TO EXISTMonday, June 17, 2013 |
|
| The Life Sciences Report |
| For Love and Money: Three Growth Stocks from Casey's Alex Daley |
| The Life Sciences Report: As I look at your coverage list, the first thing that pops into my mind is that you are following a lot of sophisticated technology, biotechnology, specialty pharma, enabling technologies and more. Do you have a theme, or are you just looking for growth wherever you can find it?
Alex Daley: Our coverage is ultimately about underaddressed or completely unaddressed markets. A lot of great technology is out therefar more than any one person or team of people can cover acThursday, June 13, 2013 |
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| Mish - Global Economic Analysis |
| German Constitutional Court to Rule Whether ECB Actions Violate German Law; Irrelevant Arguments and |
| The German Constitutional Court in Karlsruhe, heard arguments on Tuesday on whether ECB measures to contain the eurozone crisis violate German law.
The court does not have the power to block the ECB, but it does have the power to restrict German participation in various funding schemes.
The New York Times dramatically states German Court Debates Fate of Euro.
Karl Albrecht Schachtschneider, a retired law professor and well-known euro opponent, told the court he hoped that “the euro adventurTuesday, June 11, 2013 |
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 | Philippe Herlin - GoldBroker |
| Europe : Zero-Growth |
| The european economy’s landscape looks sad... The Eurozone saw its GDP lose 0.2% in the first quarter, and the OECD revised to the downside its forecast for 2013 and sees a 0.6% recession ahead. The OECD and the governments are hoping for a return to a positive rate, a meager 1%, in 2014, nothing more. Europe looks stalled.
Here are three observations that make this poor result even worse :
1) All European countries are concerned by this stagnation, even Germany (+0.1% in the first quarter)Tuesday, June 11, 2013 |
|
| Mish - Global Economic Analysis |
| Chinese Economy Grows at Slowest Pace in 13 Years; What's Next for China? |
| Inquiring minds note the growth slowdown in China: China's economy stumbles in May, growth seen sliding in Q2.
China's economy grew at its slowest pace for 13 years in 2012 and so far this year economic data has surprised on the downside, bringing warnings from some analysts that the country could miss its growth target of 7.5 percent for this year.
"Growth remains unconvincing and the momentum seems to have lost pace in May," Louis Kuijs, an economist at RBS, said in a note. "The short-term Monday, June 10, 2013 |
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| Mish - Global Economic Analysis |
| China Ponders Tariffs on EU Wine in Response to EU Tariffs on Solar Panels; Repetitive Stupidity |
| No one wins a trade war. Ever. Not countries, not companies, and certainly not consumers. Yet, here we go again. People's Daily says China has more cards to play in EU trade dispute.
China still has plenty more cards to play in an increasingly ugly trade dispute with the European Union, the official People's Daily newspaper said on Thursday, accusing Europe of not realizing that its global power was waning.
The EU will impose duties on imports of Chinese solar panels from this week, a move thWednesday, June 05, 2013 |
|
 | Andy Sutton |
| Keynesian Dogmatism |
| Lest I be accused of picking on US-centered media outlets, we're going to spend a bit of time this week dissecting a Eurozone Reuters article which puts on full display the completely absurd rationale of the Keynesian economic model. This folks is truly the stinker of the year (so far) right here. Unfortunately, it also lays bare the dogmatic nature of economic thinking. It should be no surprise really; the same dogmatism exists in the political and religious arenas as well. DogmatisMonday, June 03, 2013 |
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 | Jon Matonis - The Monetary Future |
| Credit Unions Fear Collateral Damage from FATCA |
| By Jon Matonis
American Banker
Thursday, May 23, 2013
http://www.americanbanker.com/bankthink/credit-unions-fear-collateral-damage-from-fatca-1059360-1.html
Last month, I warned
that the Foreign Account Tax Compliance Act, an attempt by the U.S. to
impose reporting burdens on other countries' banks, would produce blowback for domestic financial institutions. Credit unions, at least, are worried.
The powerful Credit Union National Association has thrown its support behind Senator Rand PauFriday, May 31, 2013 |
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| Mish - Global Economic Analysis |
| Simmering Feud Between France and Germany Erupts Into Verbal Warfare; France Tells Brussels to Shove |
| The simmering feud between France and Germany erupted into a heated political exchange following Pressure on Hollande to take bold action to revive the French economy, calling for new pension and labour market reforms.
"The commission’s list of recommendations for Paris, which it expects to be delivered in return for allowing France two extra years to meet its budget deficit targets, covered all the hard issues the socialist government faces: cutting public spending; restoring badly diminishedFriday, May 31, 2013 |
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 | Julian D. W. Phillips - Gold Forecaster |
| Nations Want Bank Info on Nationals Anywhere in the World. What For? Will it Include Gold? |
| As you heard in the European Union conference last weekend, there is a demand from these governments that there be a sharing of banking information. The U.S. is following a similar line as we saw with Google and Apple answering questions on Capitol Hill. While there is a great deal of 'huffing and puffing' on the subject of Tax Avoidance in the developed world, the pressure is mainly being turned up on Tax Evaders. This is reasonable because they are breaking the laws of their country. But the pThursday, May 30, 2013 |
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 | Mark O'Byrne - gold.ie |
| Belgian Central Bank Says 25 Tons Or 10% of Gold Reserves on Loan |
| Today’s AM fix was USD 1,379.00, EUR 1,067.42 and GBP 913.43 per ounce.
Friday’s AM fix was USD 1,385.25, EUR 1,068.95 and GBP 917.81 per ounce.
Yesterday a national holiday was observed in both the United Kingdom and the USA.
Gold is lower in all major currencies except the yen which is under pressure today due to ‘Abenomics’ concerns and concerns of further yen debasement.
A firmer dollar and buoyant stock markets may be contributing to gold being under pressure.
Gold is being supported by coWednesday, May 29, 2013 |
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| Jon Matonis - The Monetary Future |
| Bitcoin Comes To SWIFT |
| By Jon Matonis
Forbes
Monday, May 20, 2013
http://www.forbes.com/sites/jonmatonis/2013/05/20/bitcoin-comes-to-swift/
Hosted at the palatial and temple-like SWIFT headquarters, this year’s TransConstellation Alumni conference
featured a mix of panel representatives from both “new” payment
approaches and “established” payment players. I was invited to represent
the new approach in an Oxford-style debate which I gladly accepted.
As the mecca for international payments, SWIFT
is situatedTuesday, May 28, 2013 |
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| Mish - Global Economic Analysis |
| Folly of Preserving the Euro at All Costs; Should France Lead Breakup of Euro? |
| The Local, a website with German news in English reports Economists warn against German euro exit.
“Even a believable rumour that Germany would exit the euro would result in a massive capital flight from the countries of southern Europe to Germany.”
The southern European banking system would then collapse, bringing down entire economies with them, Schmieding said.
The consequences for Germany would be severe. The crisis countries could no longer pay back their debt and Germany’s important exSunday, May 19, 2013 |
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 | The Gold Report |
| Gold and Bitcoin: Currencies of the Future?James Turk |
| The Gold Report: James, from your perspective in Europe, is the region in as bad a financial crisis as it appears in the headlines here in the U.S.?
James Turk: Yes, it really is. However, Europe is a big place, and you have to look at the individual countries one by one to understand the situation. Generally speaking, the Mediterranean countries are in the worst shape. Germany has been in the best shape, although recent economic data indicate it may be falling into a recession again. France isSaturday, May 18, 2013 |
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 | Bob Hoye - Institutional Advisors |
| The Greatest Garbage Market in History |
| Australian PMI plunged 7.7 points to 36.7, which is the lowest in 4 years.
"Automakers are giving subprime buyers the most long-term loans in
at least eight years."
"Asset-backed sales linked to auto-debt are surging".
- Bloomberg, May 1
"The Market CDX North American Investment Grade Index, aSaturday, May 18, 2013 |
|
| Casey Research |
| The New Cold War: The “Putinization” of Uranium |
| By the Casey Research Energy Team
Like the United States, the European Union relies heavily on Russia and the Commonwealth of Independent States (CIS) for its uranium, as shown in the chart below:
Russia is projected to produce 64 million pounds per year by 2020. The majority – 40 million pounds – will come from Russia itself, and the remainder from its foreign projects in Kazakhstan, Ukraine, Uzbekistan, and Mongolia.
But there's an often forgotten subsector of uranium production: theFriday, May 17, 2013 |
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| Mish - Global Economic Analysis |
| EU Emissions Trading in Tatters (As It Should Be) |
| The Wall Street Journal reports Emissions trading in Europe in Tatters.
The European Union's flagship program to fight global warming—a regional carbon-emissions trading system—suffered a major blow Tuesday when legislators rejected a proposal aimed at saving the market from collapse.
After the European Parliament's rejection, spooked investors drove the already depressed price of carbon emission permits down by nearly half. Benchmark electricity prices also fell. Europe's Emissions Trading SThursday, May 16, 2013 |
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| Mark O'Byrne - gold.ie |
| European Union Likely to ‘Bail In’ Large Depositors |
| Today’s AM fix was USD 1,436.50, EUR 1,103.47 and GBP 938.15 per ounce.
Yesterday’s AM fix was USD 1,429.75, EUR 1,102.52 and GBP 931.19 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $11.90 or -0.82% yesterday to $1,431.40/oz and silver finished -0.8%.
The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of over €100,000 as part of future bank wind-downs. It now looks likely that the EU is going to take unprecedented stepTuesday, May 14, 2013 |
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