by John Galt June 14, 2012 19:30 ET Tonight’s commentary and analysis by Mr. Pritchard via the U.K. Telegraph is another home run: Dutch disease The terrifying start of the article is enough to make this piece required reading because it compliments my earlier writings about Austria, Switzerland, etc. and the issues hitting those nations along with the idiocy of the EU/ECB policymakers: As if matters were not bad enough already in Euroland: Dutch retail sales collapsed by 11pc…
by John Galt June 13, 2012 11:00 ET The American media’s obsession with ignoring bad news and engaging in propaganda via the art of omission works well for the target audience which is more concerned about Lindsey Lohan or a “yes we can” chant. However when the internet news hounds (my readers) and those concerned about the future of Europe and hence, the U.S. economy start to dig into the severity of the situation in Europe new facts emerge to raise the concern…
by John Galt June 13, 2012 05:10 ET Wow. From Bloomberg TV: 1 year (364 day) Italian bond auction this morning- on May 11th auction went off with a 2.34% yield This morning with a 3.972% yield. Can you smell the pizza burning in that Italian kitchen? They may have sold all €6.5 billion put out for bid, but to have yields blow out by over 1.6% is a failure in anyone’s book because it means that increasingly, investors…
by John Galt June 12, 2012 17:50 ET The reports of capital controls being implemented should Greece leave the Eurozone have been flying throughout the internet over the last twenty-four hours, leaving many to wonder if the European Union is about to descend into the status of a large latte sipping banana republic. Switzerland’s central bank (SCB) is already rumored to have a plan in place to freeze all incoming funds at their borders and penalize anyone attempting to convert deteriorating Euros into…
by John Galt June 10, 2012 23:40 ET Hey, remember this guy? Who could ever forget that awesome prediction. Along with the Dow 20K guy, of course. Someday soon, with the Bernank’s help, they might be right. But for practical purposes, let’s review the upcoming Spanglish rally created by the FedECBJCBPRAYFORAMIRACLEOHGODWEAREALLGOINGTODIE bank of the world. The S&P 500 has some serious headwinds as Herr Obummer likes to call them: A break through the 1360ish area with major…
by John Galt June 10, 2012 20:55 ET Just as the Spantarp seems to has pacified the equity traders for twenty-four hours, the news heading into the Greek elections indicates further issues that the mainstream bubblemedia and the European Union wishes not to discuss. From the Greek newspaper Ekathimerini: Withdrawals up again due to uncertainty By Yiannis Papadoyiannis The political polarization and uncertainty regarding Greece’s position in the eurozone generated a fresh spike in bank withdrawals last week. In…
by John Galt June 10, 2012 19:30 ET Ambrose Evans-Pritchard figures it out once again as the pathetic announced underwhelming bailout of Spain amounts to nothing more than a march in the woods for the new financial spring time financial Wehrmacht assembled by the German led European Central Bank. The dirty dark secret the Spanish media wants to mask at the request of the current government is as simple as it was for the Greeks and Irish: “Don’t ask, don’t tell, and…
by John Galt June 9, 2012 13:18 ET Per breaking news in El Confidencial in Spain, the maximum amount that Brussels will authorize is € 100,000 million (€ 100 billion) which means that Spain will be left on their own to fund any future or additional bail outs for their banking system. From the article translated using Google Translate(original in Spanish at this link): The total amount of the ransom to Spain could amount to 100,000 million euros, according to sources at…
by John Galt June 7, 2012 05:15 ET So what keeps an academic figurehead for the world’s elite banksters up at night? A repeat of the 2008 debacle. Thus far they think they have avoided it in the United States however that creeping feeling that the disaster de jour in Europe will not be avoided is starting to permeate the thought processes of our bankers and that means the U.S. taxpayer must be extorted into another bailout of their mistakes. The problem…
by John Galt June 4, 2012 17:30 ET Tonight, Ambrose Evans-Pritchard switches from the Austrian bugaboo view to the Keynesian “oh crap we are all going to die” point of view in his U.K. Telegraph column: Global slump alert as world money contracts What? I thought we were in perpetual expansion? The Bernank, Obama, the Demopublicans, Republicrats, and Eurocommies all assured us sheeple that the events of 2008 were a one off event and the probability of a repeat were as…
by John Galt June 3, 2012 19:10 ET The hits just keep coming and with $647 trillion reasons to worry, aka, the total notional derivatives now outstanding as of Q4 in 2011 per the Bank of International Settlements just released this afternoon and published officially on Monday (click here for the PDF of the full report). The really, really good news is that our Federal Reserve has this completely under control and the trillions of dollars in Credit Default Swaps (CDS) and European…
by John Galt June 3, 2012 17:10 ET Ambrose Evans-Pritchard is back with the reality check in the U.K. Telegraph that has been sorely missed by most of the mainstream Bubblemedia and especially the political elites of Europe: The week that Europe stopped pretending These key portions of this outstanding summary of the past week should terrify the sane and petrify the insanely ignorant: Joschka Fischer, Germany’s former vice-Chancellor, said EU leaders have two weeks left to save the project.…
by John Galt June 3, 2012 11:15 ET The news from Athens continues to bleak over the past few weeks. A 90 year old mother and her 60 year old son jumped to their deaths off on apartment building (See Ekarthimeini article here). A 62 year old pensioner hung himself off of a tree on the outskirts of Nikaia (See Athens News article here). Migrants are being attacked and are desperate to leave the country. Pharmacists are now refusing the government benefits card…
by John Galt May 30, 2012 19:25 ET Europe’s debtors must pawn their gold for Eurobond Redemption (click on the title above to read the article in full) Ambrose Evans-Pritchard outlines a radical new plan being devised by the technocrats and banksters in Germany to seize control of the Southern European nation’s treasures, gold, and national assets. The first two sentences of the story tell the tale of deceit being concocted by the banksters of Berlin: The German scheme — known…
by John Galt May 29, 2012 07:00 ET In another sign that the nation of Greece is failing to function at every level, another story appears in the Greek newspaper Protothema which gives the average person some degree of awareness as to how severe the crisis truly is: Prisons are running out of food It’s a good thing those evil Christians that the American elite liberals despise are still alive and well in what’s left of the Hellenic Republic. This excerpt from…
by John Galt May 20, 2012 23:59 ET But, butt, butt, butttttt, butttttttt, I was told on the teevee that Mr. Obama had saved the day according to the Vice-President, Mrs. Biden. Oopsies, again! Tonight’s editorial/commentary from Ambrose Evans-Pritchard sums up the ultimate definition of “critical mass” if and when the American economy collapses in this article: Again; do what? I thought Obamanomics cured cancer, AIDS, divorce, unwanted pregnancy, herpes, and common toe nail fungus. Apparently, according to the concerns…
by John Galt May 20, 2012 21:30 ET After months of haggling, arguing, and bullcrap (much like the Federal Reserve’s nonsense) I have abandoned efforts to make the blovel/novel, “The Day the Dollar Died” which I first published in November of 2009 an online novel for purchase. Needless to say it was a huge success years ago and my readers need a refresher as to what can and probably will happen due to bankster incompetence when all is said and done. The names…
by John Galt May 20, 2012 08:20 ET Finally, at least one of the banksters of the world has provided some degree of honesty about this mess over in Greece. The threat of the Grexit was enough to turn the debut of Facebook on the NASDAQ into FacePalm creating a concern that the entire world economy is teetering on disaster. From an article in the Athens News yesterday: If Greece leaves the euro zone it could detonate a global financial crisis even worse…
by John Galt May 16, 2012 16:55 ET What can I say? Ambrose Evans-Pritchard is on a roll this week with his columns in the U.K. Telegraph and this one protion from today’s piece sums up the disaster we are facing quite nicely: The crisis is replicating the pattern of fixed-exchange ruptures through history. Britain was forced off the Gold Standard in 1931 after pay-cut protests in the navy triggered capital flight. Greek banks have lost 30pc of their deposits since late…
by John Galt May 15, 2012 18:45 ET Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course My fellow internet wanderers, no, your eyes do not deceive you. The costs are almost incalculable because the world has never experienced anything like what we will witness occurring in Greece as their exit from the European Monetary Union seems almost certain now. In tonight’s article from the U.K. Telegraph, Ambrose Evans-Pritchard makes the following, terrifying statement: Needless to…
by John Galt May 14, 2012 17:35 ET Moody’s unleashed a firestorm with this release today piling on top of the Greece fire: Moody’s downgrades Italian banks; outlooks remain negative Excerpt from the official statement at the link above: The ratings for Italian banks are now amongst the lowest within advanced European countries, reflecting these banks’ susceptibility to the adverse operating environments in Italy and Europe. Today’s rating actions reflect, to differing degrees for each affected bank, the following key drivers:…
by John Galt May 11, 2012 05:15 ET The nation and government of Greece is in total revolt from the street level to the civil service level now with bureaucrats at the Finance Ministry failing to engage in the Troika required tax collections per an article from the Greek newspaper Protothema. The lack of interest in engaging the citizenry for collection of these taxes, be it income, sales, or VAT indicates that the entire system is now in full collapse. The bureaucracy in Athens…
by John Galt May 10, 2012 20:00 ET AND the hits just keep on coming…. Europe, as Ambrose Evans-Pritchard so brilliantly outlines in tonight’s U.K. Telegraph commentary, is playing Fukushima with the world economy. The measurements of Greek unemployment yesterday were beyond horrific and indicative of a nation in complete disintegration economically. The extremists now hold sway over the future and that is a dark prospect for the people as usually the fringes of the political world lead nations into great darkness and…
by John Galt May 7, 2012 05:25 ET With the election results indicating a shift of Greek public sentiment away from austerity and their Euro masters, the investing public (aka banksters) are getting the hell out of dodge. The Athens stock market opened up down 8% but has stabilized at just over 6% down at this time: While that might seem ugly, the nation of Cyprus, whose fortunes are tied to the nation of Greece in more ways than economics but as a…
by John Galt May 6, 2012 19:15 ET US Equity futures as of a 1/2 hour ago: That was not hard to predict. Neither was the emergence of anti-austerity leftist and extreme right wing parties becoming viable in Europe. As a result of the elections in France, Germany (local), Greece, and Serbia, it would appear the Euro will be punished severely and traders have broken out the chairs and whips tonight: That chart looks good compared to the reaction of the…
by John Galt May 6, 2012 15:25 ET Ambrose Evans-Pritchard sounds off in his new commentary in tonight’s U.K. Telegraph with a resounding shot across the bow of continental Europe and what could be an indication that a new wave of capital flight is about to begin. The commentary may well bear some truth sooner than speculated as the investors have been piling monies into the U.S. Treasury market and gold in the face of a slowing U.S. economy. The extract below is…
by John Galt May 6, 2012 12:58 ET From the newspaper Protothema: It does not take much imagination to figure out some of the party symbols such as the Communists K.K.E. or the Neo-Nazi Golden Dawn (XP.AYTH) but here is the breakdown of the poll from the newspaper story which is creating a huge stir in the Greek online community: ND, PASOK and SYRIZA head to head! 06/05/2012 19:00 Unprecedented election thriller show the exit polls. ND, PASOK and SYRIZA move without…
by John Galt April 19, 2012 23:00 ET Tonight’s entry from Ambrose Evans-Pritchard contains not one, but two veiled warnings about the potential for another round of deflationary deleveraging which will stall the U.S. economy if not put it into outright recession, albeit brief, and destroy the European Union should it occur. This one excerpt from George Soros’ commentary within the story should be alarming to U.S. government officials because it is a warning shot across the bow: George Soros has launched all-out war…
by John Galt April 16, 2012 21:55 ET Tonight’s commentary from Ambrose Evans-Pritchard demonstrates the fallacy of central banking during an election season in a nation or continent experiencing economic woe. The ECB has become the target of Nicolas Sarkozy as the Communist candidate, Hollande, is smoking him in every poll and it would appear that the French are refusing to follow Sarkozy’s surrender to Germany and demanding a strong turn to the left. The consequences of France’s hope and change movement are about…
by John Galt April 1, 2012 12:00 ET In the nation of Greece, poverty and misery rules the day as the ideals of Eurosocialism when implemented to completion take hold. The attempt to create a hybrid version of capitalism with Marxist overtones has never been successful and there is no reason to believe that success is just around the corner as a desperate population begins to realize the failure of the globalists which have sold the nation out to participate in an international currency…
by John Galt March 28, 2012 22:25 ET That cured nation saved from the disaster and end of the world via a Eurozone banking collapse is not back in the international news, but since I’ve been one of the bloggers covering the story for ages now, perhaps a reminder from tonight’s edition of the Athens News is in order: Banks continue to bleed deposits: ECB (click on the title to read the story in full) This excerpt from the story says it all: Firms and…
by John Galt March 27, 2012 23:00 ET The saga of the Eurozone is far from over and the latest piece from Ambrose Evans-Pritchard in the U.K. Telegraph tonight says it all: Spain to slash spending as economy slumps back into recession (click on the title above to read the story in full) As the world thinks the Greek disaster is behind them, the lurking nightmares of Hungary, Ireland, Portugal, and Spain along with Cyprus and other Balkan states hangs over the heads of…
by John Galt March 18, 2012 23:00 ET The stories about Montana, Utah, and Virginia striking their own gold “commemorative” coinage sent a shudder throughout the U.S. fiatocracy as they were indicating a lack of faith in the old fiat currency, the U.S. Dollar. For a city in Germany to indicate a lack of faith in the Euro and the ineptitude of the Masters of the Universe in Berlin and Brussels however is an entirely different matter! From Der Spiegel on March 16, 2012: New…
by John Galt March 18, 2012 18:30 ET Well I guess it would be nice If I could touch your body I know not everybody Has got a body like you But I’ve got to think twice Before I give my heart away And I know all the games you play Because I play them too Oh but I Need some time off from that emotion Time to pick my heart up off the floor And when that love comes down Without devotion Well it…
by John Galt March 18, 2012 16:00 ET The music is fading, the crescendo of crisis overrated according to some, the people of Athens are now found digging through garbage cans fighting their former pets for meals, all while the European Union chieftains and banking elite enjoy Chateaubriand and caviar in celebration of another hollow victory. The bondholders who refused to comply with the Greek default order are going to be paid a pittance compared to the thievery of the banksters and average citizens throughout…
by John Galt March 18, 2012 11:30 ET Angela Merkel’s financial Wehrmacht might be rolling through European second tier economies without opposition but a gaping wound that is over fifty years old could be re-opened thanks to the arrogance of the German banksters. From the Athens News yesterday: Issue of war reparations still open (click on the title above to access article in full) From the article above: Deputy Foreign Minister Dimitris Dollis on Friday reiterated that the “issue of German war reparations remains open…
by John Galt March 11, 2012 20:35 ET Tonight’s entry from Ambrose Evans-Pritchard via the U.K. Telegraph sums up the fears and reality of what happens before this year is out unless ALL of the world’s central banksters elect to engage their printing presses into hyperdrive thus, hyperinflation: Global liquidity peak spells trouble for late 2012 (click on the title above to access article in full) Really, nothing else needs to be added beyond saying read the article, understand the implications, and prepare for…
by John Galt March 8, 2012 22:15 ET The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is. Welcome to the PECB, the Ponzi European Central Bank. Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph: Legal skull-duggery in Greece may doom Portugal (click on the title above to access article in full) As the Greece insolvency crisis continues despite the bond…
by John Galt March 8, 2012 05:30 ET The myth that the great shell game known as the Greek bond swap where worthless paper is exchanged for lower quality even more worthless paper so Greece can default on those bonds at a later date has been exposed in one chart showing the market’s faith in the viability of the Greek nation: (chart from Bloomberg.com) The yield on the one year Greek Government bond has topped 1,135%. This means that no matter what commitments are made…
by John Galt March 5, 2012 17:40 ET La Revolución ha comenzado The Revolution has begun. A simple, often controversial phrase uttered throughout history in Latin nation as the war against the oppressors start, or worse, the war against a system perceived as unjust by those wishing to install a new more evil system. The story from Spain tonight is one of defiance, the proverbial threat against the banksters that they have been living in fear of hearing since the beginning of the Greek crisis.…
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