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Mish - Global Economic Analysis
Eurogroup Finance President Accuses Southern Europe of “Spending Money on Booze and Women then Begging for Help”
Jeroen Dijsselbloem, Dutch finance minister and president of the Eurogroup finance ministers, is in hot water today over derogatory statements regarding peripheral Europe. This compounds Dijsselbloem’s already significant problems as his party was trounced in the recent Dutch elections. Spain and Portugal now seek his ouster in addition to an apology. Please consider Protests Mount Over EU Dealmaker’s ‘Booze and Women’ Slur. Jeroen Dijsselbloem, a key euro area dealmaker, is facing calls to re
Wednesday, March 22, 2017
Mish - Global Economic Analysis
Non-Euro Investors Dump €192 Billion of Bonds: First Annual Outflow in History, Euro-Area Buys US Assets
In 2016, non-euro investors dumped euro-denominated bonds for the first time in history. Moreover, euro-area investors barely made purchases according to the ECB’s analysis of euro area net portfolio investment outflows. Annual net purchases of non-euro area debt securities by euro area investors totaled €364 billion in 2016, only slightly below the all-time high of €382 billion that was recorded in 2015. However, this masks the fact that the fourth quarter of 2016 saw euro area investors becom
Tuesday, March 21, 2017
Andy Hoffman - Miles Franklin
“Us” Against The World
This just isn’t fair!  As every time the weekend passes, I wake up Monday with a gargantuan amount of “horrible headlines” to process (or, as I have recently deemed them, “PM bullish, everything-else bearish); which I dutifully gather every second of the day, be it Saturday, Sunday, or holiday.  In other words, the Miles Franklin Blog tirelessly works 24/7, to give you the best, and most actionable information available. In this particular case, there are literally four topics worthy of stand-al
Tuesday, March 21, 2017
Egon von Greyerz - Matterhorn AM
THE IDES OF MARCH – GOLD AT $14,463 and SILVER AT $669
THE IDES OF MARCH – GOLD AT $14,463 and SILVER AT $669 By Egon von Greyerz In the Roman calendar, the Ides of March was the same as March 15th in today’s calendar. This date was not significant until Julius Caesar was assassinated on 15 March 44BC. Shakespeare then coined the phrase “Beware of the Ides of March” in his Julius Caesar work. So will March 15, 2017 be significant. We will soon know. There are some noteworthy events taking place on March 15. The debt ceiling must be reset that day a
Thursday, March 16, 2017
Mac Slavo - ShtfPlan
You Must See These Mind-Boggling Photos of 10,000 Illegal Firearms Seized by Spanish Police
Have you ever seen a deactivated firearm and thought to yourself, “I wonder if I can restore that piece to its former glory?” Obviously that’s super illegal in pretty much every country, which is why you probably quickly disregarded that fantasy. Of course, there are always people who are willing to take that risk, especially if they can make a lot of money doing it. It’s a fairly common practice among arms dealers in the black market. A deactivated firearm is often just a few modifications away
Thursday, March 16, 2017
Phoenix Capital - Gains Pains & Capital
1,000% Returns? Sure, When PIIGS Fly! - by Michael Carino - Greenwich Endeavors
The world is filled with intelligent people in finance.  Unfortunately, being intelligent doesn’t always mean you are smart.  To make sound investments, you need to be looking forward and constantly coming to rational conclusions.  One has to avoid sheltering oneself in a herd of backward focused investors taking comfort in performing in line with the masses.  Patting yourself on the back as all markets are trending higher and wallowing in ignorant pity as markets drop lower saying “who would ha
Wednesday, March 15, 2017
Mish - Global Economic Analysis
Multi-Speed Europe, Tacit Admission of Failure: Multi-Speed QA
German Chancellor Angela Merkel, a long-time adversary of the “Multi-Speed Europe” concept, has now hopped on the “multi-speed” bandwagon. Multi-speed pertains to the fact that the more members there are in the Union, the more difficult it becomes to reach consensus on various topics, and the less likely it is that all would advance at the same pace in various fields. With much fanfare, EU’s big four back ‘multi-speed’ Europe. Let’s investigate. Leaders of the EU’s four largest economies threw
Saturday, March 11, 2017
Mish - Global Economic Analysis
Massive Cascade of Eurozone Defaults Coming Up
As soon as any major country exits the Eurozone (and possibly some lesser ones), a cascade of defaults, unparalleled in history will commence. The only way to stop such a cascade would be if the ECB guaranteed (printed) enough euros to cover losses. Meanwhile, the already high Eurozone default risk keeps rising. The only way to stop such a cascade would be if the ECB guaranteed (printed) enough euros to cover losses. Meanwhile, the already high Eurozone default risk keeps rising. Meanwhile, the
Friday, March 10, 2017
Andy Hoffman - Miles Franklin
How Technology, And Incompetence, Destroyed The World
In this weekend’s “same as it ever was – Bitcoin, gold, and a rapidly changing world,” I expressed my staunch disagreement with Peter Schiff’s views about Bitcoin – whilst simultaneously, commending him for being the best political and economic analyst in the blogosphere; which yesterday, was demonstrated in this must listen analysis of the Trump Administration’s comically pathetic “Trumpcare” proposal.  And I do mean must listen – so you can truly understand just how dysfunctional, and destruct
Thursday, March 9, 2017
Mish - Global Economic Analysis
BIS Blames ECB for Rising Target2 Imbalances: Fear of Default
In the latest BIS Quarterly Review, the BIS points a finger at the ECB for rising Target2 imbalances. That sounds highly accusatory, but the BIS also claims this is a “benign by-product of the decentralized implementation of the asset purchase program (APP) rather than as a sign of renewed capital flight.” I strongly disagree that any of this is “benign” unless and until someone can tell me precisely how Italy, Spain, Greece, etc., are supposed to pay back the claims. From the BIS (this is comp
Wednesday, March 8, 2017
Mish - Global Economic Analysis
Eurozone Capital Flight Intensifies: Target2 Imbalances Widen Again
A quick perusal of Target2 Balances for January shows capital flight from Italy and Spain to Germany intensified again. German target2 imbalances exceed levels hit in the Eurozone crises in 2012. Things improved considerably after ECB president Mario Draghi made his famous statement “Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough”. The ECB claims this action is due to its bond-buying program. I strongly disagree. For further
Tuesday, March 7, 2017
Mish - Global Economic Analysis
Does Technology Destroy Jobs? If Not What Does?
In light of my posts on robots, driverless vehicles, and automation, readers keep asking: where will the jobs come from? I do not know, nor does anyone else. But does that mean jobs won’t come? Is technology destroying jobs for the first time? Daniel Lacalle on the Hedgeye blog offers this bold claim: Face It, Technology Does Not Destroy Jobs. If you read some newspapers and politicians’ comments, it seems that technology companies are a threat and robots will take your job . The idea is inter
Tuesday, March 7, 2017
Alasdair Macleod - Finance and Eco.
Central banks and gold 
The very near future is likely to see a sea-change in central bankers’ attitude to the gold allocation in their reserves. The failure of G20 monetary policy since the financial crisis is causing a general rethink, which may eventually lead to a new policy direction.For now, that is undecided, beyond a growing acceptance that today’s monetary policy does not work and the assumptions of recent decades, that gold as money should be phased out, might have been a mistake.The idea, that Western centra
Sunday, March 5, 2017
Sprott Money
The Sinking of the Lord Clive - Jeff Thomas
The image above is the 18th century home of friends in Colonia, Uruguay. Today, sitting on their back patio on the Rio de la Plata, I looked out at a small yellow buoy in the harbor that marks the final resting place of the Lord Clive, a large, 60-gun British warship from the 18 th century. In 1763, we British, already at war with Spain, decided to expand the venture to the New World. The Lord Clive arrived in Colonia, Uruguay and began firing into the tiny town. With her heavy contingent of ca
Sunday, March 5, 2017
Sprott Money
The Deep State’s Gold Scam And The Demonization Of Russia - Dave Kranzler/Stewart Dougherty 
Guest post from Stewart Dougherty: As the Fiscal Year 2018 budget, and particularly its war component are floated, it has become clear that without continued, massive military spending, paid for with mass-produced electrons masquerading as money, U. S. GDP would collapse, taking the country’s financial and monetary systems with it. The nation, whose real economy has been hollowed out, for profit, by the Deep State plunderers, has become significantly reliant upon deliberately contrived war
Saturday, March 4, 2017
Mish - Global Economic Analysis
Draghi’s Dilemma: Eurozone Inflation Hits 2% with Italy on Bond Life Support
Eurozone headline inflation hit two percent today, and that has the inflation hawks in Germany screaming. Yet, ECB president Mario Draghi has promised to maintain QE asset purchases, and Italy has no other real buyer for its bonds. What’s Draghi to do? Headline Inflation Hits Two Percent A milestone. Annual inflation in the eurozone accelerated to hit 2 per cent for the first time since January 2013 last month, underscoring a sharp rise in prices driven by higher energy costs in the single cur
Thursday, March 2, 2017
Phoenix Capital - Gains Pains & Capital
Have Central Banks Finally Unleashed Inflation?
Globally inflation is on the rise. On Monday Spain reported a year over year 7.5% jump in its PPI reading (a measure of inflation). Take a look at that chart. Spain is just the latest major economy to join the inflationary tide. German also saw a recent spike in PPI.   In the US, inflation is now well above the Fed’s target 2%, having ripped over 3% higher in the last six months alone. This is much bigger than Trump or any single factor. After eight years of low interest rates and Trillions of
Wednesday, March 1, 2017
Egon von Greyerz - Matterhorn AM
WILL THE FED TELL EVERY AMERICAN TO BUY GOLD BEFORE IT DESTROYS THE DOLLAR?
Western Central Banks have a real knack for timing the sale of their gold reserves. They are absolute experts when it comes to picking the bottom of the gold market. Central banks in the UK, Switzerland and Norway, to mention a few, timed their sales to perfection. The only problem is that they all sold at the absolute bottom between 1999 and 2004. That was of course the time to buy gold and not to sell. But the Finance ministers in charge of Western economies have no understanding of economics.
Monday, February 27, 2017
Mish - Global Economic Analysis
Germany, Italy, France Insist UK Accept €60 Billion Bill Before Brexit Negotiations Start: Election Wildcards
The EU’s chief negotiator, Michel Barnier, took a position earlier this week that the UK accept a €60 billion breakup bill before Brexit negotiations begin. Today, the Financial Times reported Germany and Italy back European Commission on Brexit. Berlin and Rome are backing the European Commission’s plan to rule out starting trade talks with Britain until the UK gives assurances on a multibillion-euro Brexit bill and citizens’ rights. German and Italian officials say they support Michel Barnier
Saturday, February 25, 2017
Charleston Voice
Banker Gold Price Suppression Currency Manipulations Have Persisted for 50 years
This 1967 meeting of the FOMC nearly 46 years ago is clear and indisputable evidence of gold price suppression and currency manipulation of the world's "free" and "open" market exchanges.  This criminal cabal has certainly built up their mechanisms since this time to conceal their sinister scheme from issuing dishonest money. It's blatant now and all of "in your face" is their behavioral response to inquiry. Damn the torpedoes, full steam ahead. If you find this too cumbersome to read, the Fed
Friday, February 24, 2017
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