By John Galt December 15, 2011 – 22:30 ET On March 29, 2010, I published the following commentary on the old version of this website: If you can leave the United States, I would suggest you GET OUT NOW This was tied Title V, section 1471 of the H.I.R.E. Act of 2010,Foreign Account Tax Compliance Act (FATCA), a vile piece of legislation laden with pork and a clause which many commentators like myself who trumpeted the warning that this was the initialization of capital controls…
By John Galt December 15, 2011 – 17:55 ET Today’s story by Ambrose Evans-Pritchard drops a not so subtle hint as to the winter of discontent getting ready swamp the European Union member nations: Talk of ‘nuclear default’ sums up Left’s anger at EU dictates The first sentence from this story via the U.K. Telegraph’s edition tonight comes courtesy of an angry Portuguese politician: “We have an atomic bomb that we can use in the face of the Germans and the French: this atomic bomb…
By John Galt December 15, 2011 – 05:20 ET The collapse in commodity prices yesterday along with warning signs from credit markets around the world should provide the only guidepost one needs to know about the Euro circus causing problems worldwide. Since 1220 did not hold on the S&P500 it now becomes overhead resistance to an upside move which should be attempted today. After that folks, there isn’t much to watch but tears as this market will only move with the news. There is no…
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