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They Know: Billionaires Are Quietly And Rapidly Dumping Millions Of Shares Of Stock After the massive crash that rocked global markets in 2008, as Congress, central bankers and major financial institutions met in secret to mitigate the crisis, billionaires like Warren Buffet were buying up shares of some of the hardest hit companies. At the time, the world was literally on the brink of an unprecedented economic collapse. It was so serious, [...] Mac Slavo
When the Cypriot government forced account holders to cover bank losses earlier this year most of the world assumed this was a one-off event, limited only to the people of Cyprus. Though warnings urging depositors to get their money out of banks spread across the world, few have taken them seriously. Perhaps now they’ll reconsider. We’re all familiar with bail-outs, as in the government rescuing failed institutions, namely banks, by injecting them with [...] Mac Slavo
After the massive crash that rocked global markets in 2008, as Congress, central bankers and major financial institutions met in secret to mitigate the crisis, billionaires like Warren Buffet were buying up shares of some of the hardest hit companies. At the time, the world was literally on the brink of an unprecedented economic collapse. It was so serious, in fact, that members of Congress were told that should they fail to [...] by Phoenix Capital Research
Few analysts know or admit it, but the only thing that held Europe (and ultimately the financial system) together since May 2012 was the promise of unlimited bond purchases from the ECB.
The reason this worked was because traders poured into European bonds in an effort to front run the coming ECB purchases (much as they have done with Treasuries during every new QE plan in the US).
This in [...] ECB’S ASMUSSEN WARNS OF SERIOUS CONSEQUENCES IF GERMAN COURT RULES AGAINST OMT BOND BUYING PROGRAM — INTERVIEW On Tuesday, the euro bailout is negotiated back in court Jörg Asmussen: The ECB does not sit on the dock. We are invited as experts and the process will be a good opportunity to purchase program “OMT” explain again. http://www.bild.de/geld/wirtschaft/joerg-asmussen/ezb-direkter-asmussen-verteidigt-vor-gerichtsverfahren-anleihen-aufkaufprogramm-30766528.bild.html http://translate.google.de/translate?sl=de&tl=en&js=n&prev=_t&hl=de&ie=UTF-8&u=http://www.bild.de/geld/wirtschaft/joerg-asmussen/ezb-direkter-asmussen-verteidigt-vor-gerichtsverfahren-anleihen-aufkaufprogramm-30766528.bild.html
ust six short months ago (before GGBs rallied 119% and the Athens Stock Index 53%), the EU and IMF agreed on Greek Debt/GDP targets, pronounced the nation “fixed”, and went on winter vacation. Well, surprise, the hockey-stick of expected GDP has not come to pass and now, as Der Spiegel reports, the IMF is refusing to participate in further rescue programs for Greece unless financing for the nation is secured for the [...] It’s not pretty in Spain these days. A contracting economy and a spiraling unemployment rate are taking its toll on the population. And few things can illustrate that as well as Bankia, the nationalized financial group that is currently the fourth largest bank in Spain by market capitalization. After having received more than €15 billion ($19 billion) in capital from the federal government, Bankia executed a recapitalization plan that culminated in floating [...] by J. D. Heyes, Natural News: The financial institution that came to epitomize the “too big to fail” concept should have been left to its own economic destruction during the days of the Great Recession it helped to cause back in 2008-09, because had it been allowed to go under, its criminal behavior would have ended then. But as it was, the taxpayer bailout of the financial giant JPMorgan did not “teach” it’s [...] by WashingtonsBlog
Fed Pours Huge Sums Into Foreign Bank Coffers We noted even before the TARP bailout law was signed into law that bailout moneys could flow to foreign banks. We were right. A large percentage of the bailouts went to foreign banks (and see this). And so did ahuge portion of the money from quantitative easing. More here and here. Ron Paul noted in 2011 that essentially 100% of New York Federal Reserve Bank loans went to foreign banks. A former high-level Federal Reserve official said that the [...] Euro-area data this week will probably reveal economic scars of the sovereign debt crisis confirming that the region is now suffering the longest recession since the single currency’s creation. Gross domestic product in the 17-nation economy fell 0.1 percent in the first three months of 2013, a sixth straight quarterly decline, according to the median of 39 economists’ forecasts in a Bloomberg News survey. That would exceed the 15-month contraction in [...] by GoldCore Today’s AM fix was USD 1,436.50, EUR 1,103.47 and GBP 938.15 per ounce. Cross Currency Table – (Bloomberg) Gold fell $11.90 or -0.82% yesterday to $1,431.40/oz and silver finished -0.8%. The European Union will today meet to discuss and move forward the proposal to ‘bail-in’ depositors with savings of over €100,000 as part of future bank wind-downs. It now looks [...] just, wow. We’re not seeing much about Greece in the news lately, but that doesn’t mean things are going well there:. Greek youth unemployment rose above 60 percent for the first time in February, reflecting the pain caused by the country’s crippling recession after years of austerity under its international bailout. Greece’s jobless rate has almost tripled since the country’s debt crisis emerged in 2009 and was more than twice the euro zone’s average [...] Portugal, which is entering the last year of a three-year European Union aid program, will likely need further help from Europe at a time when core countries in the region, such as Germany, are fast losing enthusiasm about providing financing to ailing peripheral nations.
The most likely solution to this problem, according to analysts at Credit Suisse, isn’t a second bail-out but instead that European institutions offer Portugal a credit line until [...] Greek Unemployment Hits New Record High, Youth Jobless Rises By 5% In One Month To 64.2% The Greek economic depressionary catastrophe continues to merrily chug along. Hours ago, Greek Elstat reported that February unemployment rose to a new record high of 27.0%, with the January number revised from 27.2% to 26.7%, up from 21.9% in February 2012, and almost as if unlike the Greek BLS is not even trying to fudge numbers anymore [...] In a speech to the nation on Friday night, Pedro Passos Coelho also said that the full pension age would be pushed back from 65 to 66 years old and civil servants would be expected to work 40 hours per week instead of 35. The measures were announced in order to keep the small debt-hit eurozone member eligible for another slice of its much-needed bailout. Mr Coelho was unveiling the contents of [...] Europe Has Become A Totalitarian State The Cyprus Template “What manner of men had lived in those days…who had so eagerly surrendered their sovereignty for a lie and a delusion?” -Taylor Caldwell Cyprus is absolutely the template for Europe now. It is just that the template is far worse than what is narrowly imagined. It is not the small nation of Cyprus nor is it that the specifics of the criminality that was transacted in [...] Markets Are Tumbling In Europe FTSE 100 6,397 -19 – 0.30% 7,763 -109 – 1.38% CAC 40 3,737 -38 -1.00% FTSE MIB 15,829-1921.20% IBEX 35 8,058 -102 -1.24% Stoxx 600 293-2 - 0.66%
Euro Zone Crisis Is Back — On Multiple Fronts Europe’s finance ministers meeting in Dublin on Friday are facing a renewed crisis on multiple fronts,with a backlash against austerity acting as a gloomy backdrop for negotiations over bailout extensions for Portugal and Ireland, while tackling Cyprus’s botched bailout and growing [...] By Stephen Lendman It shouldn’t surprise. It’s already policy. Market analyst Graham Summers explained. Depositor theft is coming. Europe is banker occupied territory. So is America. Finance is a new form of warfare. It’s more powerful than standing armies. Banking giants run things. Money power has final say.Ordinary people are impoverished. Even their bank accounts aren’t safe. Cypriot officials agreed to tax them. Canada, New Zealand, and Euroland member states plan [...] In his first TV interview since the company reported record profits, Fannie Mae CEO Tim Mayopoulos told Bloomberg TV’s Peter Cook today that U.S. taxpayers could see a net gain from their bailout as the housing market rebounds. Mayopoulos said, “I do think, given the strength of our future profitability, that it is possible that we will be able to pay dividends that would be equal to or greater than [...] Greek Unemployment Soars By 1.5% In One Month, Hits Record 27.2% There was much hope in the feudal states of Europe that the monthly December drop in Greek unemployment – the first in years – was the beginning of the end for local misery. Alas, it appears the Greek statistics office leaarned a thing or two from the BLS and it was all seasonal adjustments. As reported earlier today, things just [...] By Wolf Richter Eurozone countries are falling like dominos. Next: Slovenia. But bailouts – by taxpayers in other countries – keep banks from collapsing, governments form defaulting, and investors from incurring well-deserved losses. In the US, President Obama’s budget, with its new taxes, is causing heart palpitations left and right. But how do countries really stack up? Eurozone countries are falling like dominos. But bailouts—funded by taxpayers in other countries—keep banks from [...] by GoldCore Today’s AM fix was USD 1,555.75, EUR 1,012.20 and GBP 1,189.59 per ounce. Gold fell $26.20 or 1.65% yesterday to $1,558.50/oz and silver slid to $27.50 and finished -1.29%. Minutes from the U.S. Fed’s 20th of March meeting were released early yesterday due to an early exit by Congress yesterday afternoon. The minutes reported the following: “thought that if the [...] globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / April 9, 2013 An official denial is in: Slovenia Rules Out Bailout. Here is my interpretation: “A bailout is already in the works, only the date of the announcement is uncertain”. Slovenia insisted on Tuesday that it could avoid an international bailout as the Organisation for Economic Co-operation and Development warned Ljubljana to tackle more rapidly a “severe banking crisis” whose costs it might have underestimated. The OECD [...] Billionaire speculator says single currency’s prospects would be better without Germany, the eurozone’s most dominant member George Soros, the billionaire speculator best known as “the man who broke the Bank of England” in 1992, has launched a stinging critique ofGermany‘s role in the euro crisis and suggested the single currency’s prospects would be improved if its most dominant member were to quit. In an incendiary speech made on Tuesday afternoon in Germany’s financial centre of [...] |
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