European Bailout!

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Published : February 23rd, 2013
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Category : Opinions and Analysis

Read the Thursday Afternoon Wrap-Up for 2/21/2013 and the Friday Morning Commentary for 2/22/2013

Irrespective of Mario Draghi’s plan to do “whatever it takes” to save the Euro…

ECB’s Mario Draghi unveils bond-buying euro debt plan

…the European economy is in FREEFALL; as validated by last week’s announcement the ENTIRE CONTINENT is in recession…

Europe’s recession deepened in 4th quarter as economy shrank 0.6%

…featuring its lowest automobile sales EVER…

Chart of the Day: Europe’s Decimated Car Market

Even hope is dying…

Rajoy Summarizes Overnight (And Recurring) Sentiment: “There Are No Green Shoots, There Is No Spring”

…as social unrest expands…

Previewing Tomorrow’s First Greek General Strike Of 2013

…and political tension proliferates…

Italy’s North-South Divide, and Lombardia’s Starring Role in the Elections

Worse yet, a MAJOR component of Europe’s woes is a collapsing export engine…

Europe’s recession deepens as exports suffer

…the victim of not only weakening demand, but cost pressures related to erupting CURRENCY WARS…

Euro Is Currency War’s First Casualty

…which will expand exponentially as the impact of the recent Yen devaluation kicks in…

Japan Welcomes Abenomics with Record Unadjusted Trade Deficit in January

…as conceded by top ranking Central bankers in Germany…

German Bundesbank Warns Japan on Currency War

…the UK…

Please Welcome UK to the Global Currency Wars

…Switzerland…

Switzerland and Britain are now at currency war

…and the EU itself…

CURRENCIES: Euro Remains Weaker After Juncker Warning

Thus, it should be no surprise the latest ECB “publicity stunt” – to try and convince “sheeple” that LTRO-receiving banks no longer needed the money; was a MISERABLE FAILURE…

LTRO Repayment Enthusiasm Evaporates

…and even less so, that $237 BILLION of freshly PRINTED dollars were “injected” last month into European banks by the “printer of last resort”; “Helicopter Ben’s” Federal Reserve…

The Fed’s Bailout of Europe Continues With Record $237 Billion Injected Into Foreign Banks in Past Month

Yes, $237 BILLION was PRINTED for “recovering” European banks; atop the $85 BILLION the Fed prints each month for “quantitative easing”…

…yet we are told to “trust” TPTB that all is well…

Schaeuble: Worst of euro crisis ‘behind us’

…as unemployment surges to new ALL-TIME HIGHS…

Euro-Area Unemployment Rate Rises to Record 11.8% amid Recession

Sometimes, little incremental commentary is required to describe indisputable FACTS; and in this case, the FACTS state Europe is on the verge of economic collapse.  Watch what the world’s financial leaders do – not what they say; and you will know the TRUTH.

Data and Statistics for these countries : Germany | Italy | Japan | Switzerland | All
Gold and Silver Prices for these countries : Germany | Italy | Japan | Switzerland | All
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Andrew Hoffman was a buy-side and sell-side analyst in the United States (including six years as an II-ranked oilfield service analyst at Salomon Smith Barney), but since 2002 his focus has been entirely in the metals markets, principally gold and silver. He recently worked as a consultant to junior mining companies, head of Corporate Development, and VP of Investor Relations for different mining ventures, and is now the Director of Marketing for Miles Franklin, a U.S.-based bullion dealer.
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