The EU finance ministers decided yesterday that all depositors at Cyprian banks will have to pay for the bailout of the government, regardless of whether their bank is in trouble or not. Collectivism at it's best. It's also gonna hit local and smaller depositors more heavily, because smart money...
Anyone who is interested in the Euro crisis should read these two books.
The first one was written before the Euro came into being by a disgusted British EU bureaucrat called Bernard Connolly. He exposed the corruption and power brokering behind the scenes of the emerging Euro-project and was...
Looks like it's on like Donkey Kong...
More: http://www.zerohedge.com/news/de-la-rue-warming-new-drachma-printer
Fitch and Moodys both were busy downgrading Greece, Spain and Euro bank credit ratings over the last couple of days.
http://www.24hgold.com/english/news-gold-silver-european-reality-check.aspx?article=3905323908G10020&redirect=false&contributor=Alf+Field
"...reality check is to accept that the EU countries in the PIIGS group will never repay their international debts." :rotflmbo:
(Spanish) "Unemployment is...
Any speculation on how the French Connection election is going to affect markets tomorrow? It's looking like Hollande may beat Sarkozy in the run off election. That is going to be a thorn in Germany's austerity desires. Storm clouds coalescing over the Euro?
"Gold, Stocks and Euro All Down after China Manufacturing News, Bullion Refiners "Stocking Up" for Europe but Concerns Over Liquidity "Cap Upside" for Gold
PRICES TO buy gold bullion on the wholesale market dropped to $1630 an ounce during Monday morning's London session – a 2.3% drop from...
More: http://www.dailymail.co.uk/news/article-2131141/Euro-currency-collapse-pressure-sovereign-debt-crisis-IMF-warns.html
Yet, they will continue to loan them money...
:paperbag:
More: http://gonzalolira.blogspot.com.au/2012/04/spain-will-exit-eurozone-firstthis-year.html
Pro tip - type Ctrl-A when you visit his blog to highlight all the text on the page. It's hard to read otherwise because of the background image he uses.
You might recall those crazy Dutch people wondering about their gold a while back. Now it looks like they have taken a sober look at their continuing participation in the EU:
More: http://globaleconomicanalysis.blogspot.com/2012/03/report-shows-netherlands-would-benefit.html
Add to that a...
Markets are currently "risk on" in the belief that the eurozone issues are solved for the short term as discussed in the recent platinum/palladium discussion. Rumors abound that Greece is about to completely capitulate their last vestige of true wealth.
However, we've watched this saga with...
..."in as orderly fashion, as it would be only possible":
http://www.examiner.com/international-trade-in-national/greece-plans-orderly-exit-of-the-eurozone
See this as you like it fit :)
On my part, I've heard some birds twittering about similar preparations going on here in Ireland. Better...
As reported on zerohedge.com
http://www.zerohedge.com/news/barclays-says-italy-finished-mathematically-beyond-point-no-return
Thanks for the hint but most of us are way ahead of you... :gold:
http://www.telegraph.co.uk/finance/financialcrisis/8854267/Europes-rescue-euphoria-threatened-as-Portugal-enters-Grecian-vortex.html
Europe's rescue euphoria threatened as Portugal enters 'Grecian vortex'
Monetary contraction in Portugal has intensified at an alarming pace and...