Europe Archive

  • With Greece, Spain, Portugal, Italy and other struggling European countries in the spotlight so much, it’s easy for small Cyprus to be relatively ignored. Just a couple of years ago this Mediterranean island, noted for its beauty, incredible weather and wonderful lifestyle, was a top destination for tourists and expats alike. Like Greece, Cyprus had a flourishing economy outside the...

    Cyprus Among Possible ECB Casualties

    With Greece, Spain, Portugal, Italy and other struggling European countries in the spotlight so much, it’s easy for small Cyprus to be relatively ignored. Just a couple of years ago this Mediterranean island, noted for its beauty, incredible weather and wonderful lifestyle, was a top destination for tourists and expats alike. Like Greece, Cyprus had a flourishing economy outside the...

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  • We’ve mentioned German Finance Minister Wolfgang Schäuble before. He’s made some of the most outlandish and draconian comments we’ve seen come out of Brussels. In fact, when it comes to national sovereignty and freedom, this man is downright scary. Again we hear from him that he thinks the helm of sovereign economies should be placed in the hands of the ECB....

    The War on Financial Freedom Escalates in Europe

    We’ve mentioned German Finance Minister Wolfgang Schäuble before. He’s made some of the most outlandish and draconian comments we’ve seen come out of Brussels. In fact, when it comes to national sovereignty and freedom, this man is downright scary. Again we hear from him that he thinks the helm of sovereign economies should be placed in the hands of the ECB....

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  • The World Gold Council released quarterly statistics for gold in six currencies. Gold’s high performance in dollars is not simply illustrative of gold’s rise in value, but also of the dollar’s decreasing value. The dollar fared worse than the other currency’s in relation to gold. The report shows the Rupee as the currency that retained the most strength, with gold...

    World Gold Council Q3 Report – Gold Up 11% in US$

    The World Gold Council released quarterly statistics for gold in six currencies. Gold’s high performance in dollars is not simply illustrative of gold’s rise in value, but also of the dollar’s decreasing value. The dollar fared worse than the other currency’s in relation to gold. The report shows the Rupee as the currency that retained the most strength, with gold...

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  • Quantitative easing is nothing new. It’s been attempted many times and, in some cases, consistently over the past decade or more. And, to this point, it’s been nothing but an abysmal failure in every case. As Rita Mae Brown noted, “Insanity is repeating the same mistakes and expecting different results” (Sudden Death). Of course, many attribute that quote to Einstein....

    QE-101: Is History a Sufficient Teacher?

    Quantitative easing is nothing new. It’s been attempted many times and, in some cases, consistently over the past decade or more. And, to this point, it’s been nothing but an abysmal failure in every case. As Rita Mae Brown noted, “Insanity is repeating the same mistakes and expecting different results” (Sudden Death). Of course, many attribute that quote to Einstein....

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  • As we mentioned yesterday, there are those who are already calling for QE∞2? As we discussed, the focus of QE∞ was on mortgage backed securities. And the writer we considered yesterday shared thoughts about the fact that QE∞2 was already taking place quietly, in the form of the FED purchasing bonds from the U.S. Treasury. Michael Gayed, Chief Investment Strategist...

    QE∞ Not Good Enough = Time for QE∞Squared?

    As we mentioned yesterday, there are those who are already calling for QE∞2? As we discussed, the focus of QE∞ was on mortgage backed securities. And the writer we considered yesterday shared thoughts about the fact that QE∞2 was already taking place quietly, in the form of the FED purchasing bonds from the U.S. Treasury. Michael Gayed, Chief Investment Strategist...

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  • In what turns out to be an embarrassing twist of irony the German finance minister questioned American debt even as numbers reveal the worst August deficit in U.S. history. In a Reuters article, Wolfgang Schaeuble was quoted: Ahead of the election in the United States there is great uncertainty about the course American politics will take in dealing the U.S....

    The Progressive Return to Serfdom

    In what turns out to be an embarrassing twist of irony the German finance minister questioned American debt even as numbers reveal the worst August deficit in U.S. history. In a Reuters article, Wolfgang Schaeuble was quoted: Ahead of the election in the United States there is great uncertainty about the course American politics will take in dealing the U.S....

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  • Pierre Lassonde, who used to be Chairman of the World Gold Council, offered some interesting observations to Eric King recently. As it turns out, part of what’s held gold’s price up in recent months has been, of all things, central bank accumulation. Is that because they want more gold (especially in light of its elevated reserve status) or because a...

    Gold’s Status Changing with Central Banks?

    Pierre Lassonde, who used to be Chairman of the World Gold Council, offered some interesting observations to Eric King recently. As it turns out, part of what’s held gold’s price up in recent months has been, of all things, central bank accumulation. Is that because they want more gold (especially in light of its elevated reserve status) or because a...

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  • Libor shenanigans are making the headlines throughout the west, and rightly so. Unfortunately, this should have taken place years ago. Actually, it shouldn’t have been allowed to happen. But, as these things unfold, we’ll continue to see how the deception and deep manipulation isn’t any one facet of the markets. It runs so deep and is so pervasive that these...

    Libor is NOT the Disease. It’s a Symptom.

    Libor shenanigans are making the headlines throughout the west, and rightly so. Unfortunately, this should have taken place years ago. Actually, it shouldn’t have been allowed to happen. But, as these things unfold, we’ll continue to see how the deception and deep manipulation isn’t any one facet of the markets. It runs so deep and is so pervasive that these...

    Continue Reading...

  • If you’ve been with us for very long, you may remember a somewhat provocative article from February entitled, The European Union = Fiscal Slavery? Our concern was prompted by the audacious comment of Wolfgang Schäuble of Germany in an Evans-Prichard article that discussed the difficult position Greece has been placed in. Could you imagine the Chinese, or even the Canadians, telling...

    Does Merkel’s Stance Threaten Sovereignty?

    If you’ve been with us for very long, you may remember a somewhat provocative article from February entitled, The European Union = Fiscal Slavery? Our concern was prompted by the audacious comment of Wolfgang Schäuble of Germany in an Evans-Prichard article that discussed the difficult position Greece has been placed in. Could you imagine the Chinese, or even the Canadians, telling...

    Continue Reading...

  • Yesterday we mentioned renminbi bonds being marketed in Hong Kong. Last month 23 billion yuan in bonds were issued on private, central bank and national levels. Demand outstripped supply by almost four to one. China Times reports: The issued bonds will be listed on the Hong Kong bourse for exchange. The move will promote the floating of the renminbi and...

    The Greenback: Will the Redback Prevail?

    Yesterday we mentioned renminbi bonds being marketed in Hong Kong. Last month 23 billion yuan in bonds were issued on private, central bank and national levels. Demand outstripped supply by almost four to one. China Times reports: The issued bonds will be listed on the Hong Kong bourse for exchange. The move will promote the floating of the renminbi and...

    Continue Reading...

  • It’s been said that currency wars eventually develop into trade wars, and that trade wars eventually result in real wars. While we certainly hope that such a saying I simply based on some personal observations, it is very apparent that a currency war is in place today. The U.S. dollar’s unique position as the world reserve currency has made it...

    The Greenback: Rial, Ruble, Rupee, Yuan, Yen and Others Trading Without Dollars

    It’s been said that currency wars eventually develop into trade wars, and that trade wars eventually result in real wars. While we certainly hope that such a saying I simply based on some personal observations, it is very apparent that a currency war is in place today. The U.S. dollar’s unique position as the world reserve currency has made it...

    Continue Reading...