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Keith Weiner - Monetary Metals
To Frexit or Not to Frexit, Report 23 April, 2017
This was also a holiday-shorted week. As we write this, the big news comes from the election in France. The leading candidate is a banker named Emmanuel Macron, with about 24% of the vote in a 4-candidate race. The anti-euro Marine Le Pen came in second with just over 21%. From the sharp rally in the euro, which was up about 2% at one point, we assume that observers believe the odds of France leaving the euro have just gone down. Of course, France (and the other European countries) faces a false
Monday, April 24, 2017
Mish - Global Economic Analysis
Target2 and Secret Bailouts: Will Germany be Forced Into a Fiscal Union with Rest of Eurozone?
Project Syndicate writer, Hans-Werner Sinn, explains why the ECB’s asset purchases and Target2 imbalances constitute “Europe’s Secret Bailout”. Under the ECB’s QE program, which started in March 2015, eurozone members’ central banks buy private market securities for €1.74 trillion ($1.84 trillion), with more than €1.4 trillion to be used to purchase their own countries’ government debt. The QE program seems to be symmetrical because each central bank repurchases its own government debt in propo
Monday, April 24, 2017
Mike Hewitt - Dollar Daze
  Hyperinflation around the Globe 
Angola (1991-1999) Angola went through the worst inflation from 1991 to 1995. In early 1991, the highest denomination was 50,000 kwanzas. By 1994, it was 500,000 kwanzas. In the 1995 currency reform, 1 kwanza reajustado was exchanged for 1,000 kwanzas. The highest denomination in 1995 was 5,000,000 kwanzas reajustados. In the 1999 currency reform, 1 new kwanza was exchanged for 1,000,000 kwanzas reajustados. The overall impact of hyperinflation: 1 new kwanza = 1,000,000,000 pre-1991 kwanzas.
Sunday, April 23, 2017
Andy Hoffman - Miles Franklin
Last Chance For France
Before I get started, I must recommend that this weekend, you listen to yesterday’s third installment of the Miles Franklin Silver All-Star Panel Webinar – hosted by myself, and featuring David Morgan, Steve St. Angelo, and Craig Hemke.  Nowhere on the internet – much less, for free – will you receive such vitally important information about the world’s most undervalued asset class.  And given the Cartel’s all-time high silver short position – amidst a veritable blizzard of potentially short-cov
Saturday, April 22, 2017
Phoenix Capital - Gains Pains & Capital
Will Trump Stop Plans to Ban Cash in the US?
The biggest trend that continues “behind the scenes” is the War on Cash. Anyone who believed that the political shift towards nationalism would somehow result in the elites giving up their Central Planning schemes is mistaken. Consider Europe… Recently, the European Union announced it would start researching whether or not to put an upper limit on what cash can be used for… with the idea of implementing this policy in 2018. Spain, Greece, Portugal, and France are already banning cash for above c
Sunday, April 9, 2017
Alasdair Macleod - Finance and Eco.
The decline and fall of the EU
This article identifies the headwinds faced by the EU in the wake of Brexit.Without the UK, not only does the EU lose much of its importance on the world stage, but the Commission’s budget is left with an enormous hole. That is the decline. The fall is well under way, with capital flight significantly worse than generally realised, as a proper understanding of TARGET2 imbalances shows. Not only is the ECB running out of options, but without major support from Germany, France and Italy, Brussels
Thursday, April 6, 2017
Mish - Global Economic Analysis
  Brexit Optimism Misplaced: Time for Hardball
I do not understand the optimism in some corners that a deal will be reached.  Events in the last two days should open some eyes to the large and increasing chance there simply is no deal. The Wall Street Journal reports European Parliament Votes to Toughen Stance on Brexit. Highlights By a 516-183 margin, the European Parliament voted to tighten Brexit discussion rules. On the disputed divorce bill, which EU officials expect to reach €60 billion ($64 billion), European politicians said it sh
Thursday, April 6, 2017
Bullion Vault
Gold Bullion Hits Trump Highs as Real Bond Yields Fall, Le Pen Win 'Unlikely But Dramatic'
GOLD BULLION rose sharply to near 5-month highs in London trade Tuesday morning, setting its highest London benchmark price since 10 November – the day after Donald Trump's US election victory –as major government bond prices also rose, pushing bond yields down to multi-week lows amid growing jitters over this month's French presidential vote. Benchmark German Bund yields retreated to 5-week lows of just 0.24%, and 10-year US Treasury yields fel
Tuesday, April 4, 2017
USA GOLD - USA Gold
The Daily Market Report: Gold Rebounds Above $1250
USAGOLD/Peter A. Grant/04-03-17 Gold has rebounded to trade back above the $1250 level, helped by ongoing concerns about the underlying health of the U.S. economy and the resulting risk aversion. Political uncertainty, both in the U.S. and Europe, along with rising geopolitical tensions are contributing factors as well. We made note of this in this morning’s Snapshot, but a Zerohedge article has a nice chart from Bloomberg that shows the total return performance of major global financial assets
Tuesday, April 4, 2017
Bullion Vault
Gold Prices Slip, Silver Comex Bets Jump Ahead of Trump-Xi Meeting
GOLD PRICES slipped against a rallying US Dollar on Monday in London as traders looked ahead to this week's US payrolls jobs data plus President Trump's meeting with Chinese counterpart Xi Jinping, writes Steffen Grosshauser at BullionVault. Gold traded in a narrow $5 price range around $1246, recovering from Friday's 10-session lows as world stock markets held flat overall but European bond prices rose, edging interest rates down.
Monday, April 3, 2017
USA GOLD - USA Gold
Gibraltar tensions bubble over into British war talk
FT/George Parker, Jim Brunsden and Ian Mount/04-02-17 Theresa May would go to war with Spain to defend Gibraltar, a former Conservative leader claimed on Sunday, as tensions escalated between London and Madrid over the future of Britain’s overseas territory. Just days after the prime minister launched Brexit negotiations offering a spirit of “constructive, respectful and sincere co-operation”, senior Tories are furious at Madrid’s attempt to use exit talks to try to extend its influence over the
Monday, April 3, 2017
Mark O'Byrne - gold.ie
Gold and Silver Best Performing Assets In Q1, 2017
– Gold, silver two of the best performing assets in the first quarter of 2017 with gains of  8% and 14% respectively – Gold outperforms benchmarks – S&P 500 up 6%, MSCI (All Country World Index) up 6.4% (see tables) – Nasdaq and German DAX rise 11.8% and 7.6% – Silver best performing currency in quarter – Five best performing currencies in Q1 are in order – silver, bitcoin, Mexican peso, Russian ruble and gold – Gold’s biggest quarterly gain since Q1 16, when rose 16% – Gold has seen gains in 8
Monday, April 3, 2017
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
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