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Archive | September, 2011

The monstrous fact. From bail-outs to debt peonage.

There is one monstrous fact stalking Europe and no amount of debating will make it go away – there isn’t enough money to make the bank bail-out’s work. There isn’t enough money in Europe’s bail out fund, the EFSF, despite this morning’s vote in the German parliament.  The vote this morning was to ‘increase’ the […]

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Rumour of Gold buying restrictions

A rumour is going round in the Private Wealth/Off-shore investment area that Austria has instituted restrictions on buying Gold. Here is Bob Bauman writing today in “The Sovereign Investor” newsletter with one example of the rumour mill. Restrictions on Gold Buying? By Bob Bauman JD, Legal Counsel, The Sovereign Society Dear Sovereign Investor, Maybe you […]

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Greece, Hungary and Italy – a nexus of debt failure?

It is my opinion that no matter what Sarkozy and Merkel agree, it will not be enough and will not work. Why? There is one simple fact which is moving like a wall of mud towards our leaders and their mad scramblings – there is not enough money to pay the debts. And creating more […]

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Guest Post – Hawkeye – The Future Stealers

There is much talk of a plan emerging for addressing the Eurozone’s current economic problems. The broad terms of the plan are that Greece may be permitted a partial default on its debts. But given the consequent impact this “haircut” would have on major banks in other European countries (such as France), plus the risk […]

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World Wide Credulity Crunch.

Does anyone anywhere believe anything they are told, on any subject, by any government official, financial expert or banker?  Beneath all the outright lies, hopeless spin and half truths there is a more fundamental and corrosive problem. WE DON’T BELIEVE YOU! The global reserves of credulity have been pillaged and squandered. We have been told too many […]

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Operation Twist

The most striking thing about the Fed’s “Operation Twist” is that the banks and the markets don’t like it. As soon as Bernanke spoke yesterday and it became clear that Operation Twist was all there was the markets hit the ‘sell off’ afterburner. Overnight the Asian markets did the same. The Hong Kong market, the Hang […]

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Greek Austerity measures – it couldn’t happen here.

Well here is what the IMF and the EU have wanted – more austerity. And the shape of it is as you would expect from this generation of political maggots. 1)*GREEK PENSION CUT FOR THOSE EARNING MORE THAN EU1,200 A MONTH 1200 Euros a month is 14,400 euros a year. Which is $19 700 or […]

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Europe bank debt in lurid detail

For anyone who thinks that crushing the Greeks with even more dent and even more austerity will somehow ‘save’ europe’s insolvent banks here from Reuters is why it won’t. First here’s Europe’s bank exposure to Greece: Remember this isn’t the fabled public debt wracked up by countless lazy, feckless lay-abouts and their ugly children all […]

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They haven’t a clue

Do you ever get the feeling our leaders don’t know what the hell they’re doing? The Finns want collateral. Mr Barroso at the Commission wants to sell Euro Bonds. The Germans don’t. The Greek people want to default. The French banks are desperate that they don’t. Tim Geithner wants Europe to follow America’s lead and […]

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Europe on a knife edge

I think the logic of the European bank bail out is now on a knife edge and could well alter completely. What has not changed is the fact that there was never enough money to bail out all the bad debts of all Europe’s Big Banks. But the logic was that we didn’t need to […]

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