The Latvias Krajbanka was a formerly state owned bank where most old age pensioners still had their pension accounts. They can now withdraw $100/day max, and according to current plans I believe that all funds up to the guaranteed level are to be paid out by the state in 20 days. Anything above that level is probably lost. This simply guarantees that everyone in Latvia has been re-alerted to the [...]
THURSDAY, NOVEMBER 17, 2011
European bonds rise in yield/another gold and silver raid
Good evening Ladies and Gentlemen:
The world today experienced a frozen liquidity squeeze as bankers refuse to loan any money to other bankers.
The USA provided emergency swap relief as the global meltdown continues. The bankers are now trying desperately to obtain whatever physical they can and thus they raid the paper comex.
The price of gold fell by 53.20 dollars to [...]
Greece’s finance minister has warned the country is sinking deeper into recession, with revised forecasts indicating negative growth of close to 5 per cent this year.
The new projection came as experts from the European Union and International Monetary Fund started assessing progress with fiscal and structural reforms before a decision is taken on releasing another €8-billion slice of bailout funding.
Evangelos Venizelos said in an interview [...]
Tuesday trading update from Eurocalypse…
The SP500 daily chart has the same pattern than CAC.a squeeze could lead us to 1240 but I don’t see it really pushing any further out and I see the market being more heavy than Europe because we didn’t sell off as hard.
Contrary to the CAC points (see Eurocalypse Trading Update 8/16/2011 – French Markets and The Inevitable Pan-European Real Estate [...]