Posts Tagged ‘ ECB ’

05.20.12 AEP: Rising US recession risk poses the real threat to Europe

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...

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...

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...

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...

by John Galt May 15, 2012 15:55 ET The Greek crisis took another turn for the worse as the middle class began to realize that no deal would be struck to form a new government and the European Central Bank would never seriously consider any relief for the stricken nation. As the electoral politics spiraled out of control over the weekend, on Monday Greek citizens withdrew approximately $1,024,000,000 aka €800 million from the nation’s banks. This means that the middle class has...

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...

by John Galt May 13, 2012 14:40 ET As nations and empires decline into economic chaos, one of the major signs of civilian defiance is a refusal to participate in the “normal” or above ground economy and to engage in open acts of defiance towards the tax authorities. The nation of Italy has made finding alternatives to paying some of the most oppressive taxation policies an art form. The defiance however, has been moderated by the European Central Bank’s insistence on usurping the...

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...

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...

by John Galt May 9, 2012 19:45 ET The latest from Ambrose Evans-Pritchard in tonight’s U.K. Telegraph highlights the sense of panic the European credit markets are reflecting behind the scenes: Spain nationalises Bankia as euro crisis escalates How bad is it? Amborse hits the high point in this one portion of the story: “The Spanish have denied until now that there was any need for fresh capital so it comes as a surprise. It wasn’t intended, and that is a worry,”...

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...

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...

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...

by John Galt April 18, 2012 23:55 ET Click on any link below to read the full stories covered on the air tonight along with some news that time did not allow to be read on air: PM: Israel obligated to prevent nuclear-armed Iran Secret Service Agents Forced Out Amid Prostitution Investigation Colombian Escort Details Her Encounter With Secret Service Agent National Guard withdrawing 900 troops from U.S.-Mexico border CSX Furloughs Some Employees Due to Weak Coal Shipments Court says Arizona can demand voter...

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...

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...

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...

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...

A sign hangs on the railings of the Bank Of Ireland in central Dublin

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...

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...

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...

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...

by John Galt March 9, 2012 17:00 ET Today I had the honor of being interviewed for the radio program “TruNews” with Rick Wiles. Much of what was discussed has been covered in these pages but Rick’s program offers a unique perspective and I offered my knowledge and experiences on world events to provide a perspective on everything from the Greek default to the Middle East during the program. To listen to the show, you can click on this banner link to the...

by John Galt March 9, 2012 14:52 ET ISDA determines Credit Event has Occurred Boom. CDS insanity begins. Statement via from the ISDA: ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event March 9, 2012 NEWS RELEASE For Immediate Release ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event LONDON, March 9, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA), as secretary to the Determinations Committees (the DCs), today announced that a...

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...

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...

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...

by John Galt February 28, 2012 19:00 ET Can I get an “Oops” and an “AMEN” from the audience please? Irish EU treaty vote threatens chaos Ambrose Evans-Pritchard has elected to defy the powers that be in the European Union again and post an inflammatory but accurate commentary in tonight’s U.K. Telegraph (Click on the title above to read it in full) about what happens when representative democracy meets the agenda of the banksters who wish to enslave populations without proper representation. Excerpted: All...

by John Galt February 27, 2012 17:00 ET While the world burns and turns, the Dow flirts with the big 13K (why it is big, who knows other than CNBC), and the MENA region disintegrates into a flaming pyre, the one predictable action of the day has occurred after the Greek government decided to obey their Germanic masters and follow the U.S. government example of screwing bondholders as a practice to achieve even further disorder in the markets. The statement from S&P is pretty...

by John Galt February 22, 2012 05:30 ET In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to 212%. If this isn’t the true vote on the alleged ECB/IMF “bailout” I do not know what is. This is a nation falling into...

by John Galt February 21, 2012 18:10 ET The first three portions of Ambrose Evans-Pritchard’s commentary on the Greek tragedy today drop a huge hint as to what is coming in the Balkans: Greek elections in April are likely to sweep away the political class tainted by the hated “Memorandum” of the EU-IMF Troika, with the once dominant PASOK party down to 13pc in the latest poll and votes peeling away to the Communists, the Democratic Left, and Syriza. Alexis Tsipras, the Syriza...

by John Galt February 21, 2012 05:05 ET The technocrats are all patting themselves on the back but the truth about today’s “bailout” announcement comes from the Hellenic Financial Authority and its statement today (via The Athens News): The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit Statement, known as the Private Sector Involvement, and in the context of its economic reform programme that has been agreed with the European Union...

by John Galt February 19, 2012 17:00 ET Different weekend, same headlines. Another deal, another bail out rumor, another saving of the Euro, and another piece of wood on to the pyre inflaming and destroying the oldest democracy in world history. Yet while the Greeks suffer, Berlin fiddles. Tonight, Ambrose Evans-Pritchard in the U.K. Telegraph addresses the idea of saving the nation by restoring sovereignty. Too bad it appears to be another idea, too little, too late. To read the commentary in full,...

by John Galt February 17, 2012 19:15 ET So much for the “how dare you” mindset of the British and European banksters who wanted to invade Iceland with military force to take over the nation and insure they pay their debts back to their nations. Once the people Iceland elected to remain independent and not become victims of European servitude the hard times began but now are ending just a few short years later. Tonight Ambrose Evans-Pritchard highlights the glorious Viking victory of...

by John Galt February 17, 2012 05:20 ET Of course TPTB will tell us, just like they did with Indymac, Fannie, Freddie, and Bear Stearns that is “contained” and no big deal. Of course tell the Greeks digging through dumpsters this fact and I’m sure they will provide you with a sip from a Molotov cocktail. I give this less than a month before we see a 1000% yield. The intraday high today, thus far, was a nasty 639%. Just wow. (via...

by John Galt February 12, 2012 17:50 ET The sad sorry joke being perpetuated on the citizens of Greece who are clueless sheep and the mindless individual investors, what few are left, playing the Wall Street casino, is that tonight’s vote on the new Greek austerity program by the Greek parliament is irrelevant. The nation of Greece is completely insolvent, totally dependent on the whims of IMF and European Union technocrats along with banksters from New York to London, and the people have...

by John Galt February 12, 2012 16:45 ET Tonight’s editorial from Ambrose Evans-Pritchard in the U.K. Telegraph is perhaps the starkest commentary yet on the disaster in the European Union and inside of Greece: Germany’s Carthaginian terms for Greece (click on the title to read the commentary in full) One sentence describes the EU’s folly best of all in this must read article: Belief that EMU fall-out from Greek exit – or “Grexit” in market slang – can be contained by firewalls and...

by John Galt February 12, 2012 10:50 ET From Zougla.gr: Today’s debate and vote later on might be a forgone conclusion, but the reaction of the masses in the street is what will be most fascinating to watch.

by John Galt February 7, 2012 22:05 ET (Photo from Eurokinissi) It’s a good thing the IMF, the Troika, the ECB, and German masters have settled the Greek crisis. Of course that explains why this story from The Athens News was a “positive” reaction to the German imposed bankster austerity settlement whispered, rumored, and leaked today: Strike protesters burn German flag (Click on the title above to read the story in full) From the story: Hundreds of protesters chanting “Nazis Out!” clashed with...

by John Galt February 7, 2012 18:55 ET With the hour by hour, minute by minute, second by second, millisecond by millisecond, and of course, microsecond by microsecond breaking rumors, er, “news” about a potential Greek bailout since 2009, the markets and reality are beginning to come up with answers to the inevitable break up of the European Monetary Union (EMU) unless Germany is allowed to establish a Fourth Reich. Thus tonight’s entry from Ambrose Evans-Pritchard in the U.K. Telegraph is a must...

Page 1 of 5

1 2 3 … 5 »

May 2012
M	T	W	T	F	S	S
« Apr
	1	2	3	4	5	6
7	8	9	10	11	12	13
14	15	16	17	18	19	20
21	22	23	24	25	26	27
28	29	30	31

Posts Tagged ‘ ECB ’

Subscribe to Shenandoah via Email

Follow JohnGaltFLA

Amazon Products for my Readers

Help this Site Grow:

Just Measures Radio Network

Voice of Galt Radio Archives

Blogroll

Economic Websites

News Sites

Preparedness Websites

Tropical Weather/Hurricane Links

V. of Galt Guest Websites

JohnGaltFLA.com Search

Recent Posts

Recent Comments

Galt Archives

Posting Calender

Visitors to JohnGaltFLA.com

DMCA Policy

Contact Links:

Benzinga News Feed

Translation

Economic Charts, Data, & Links

Gold/Silver/Dollar Charts

US Market Watch

U.S. Treasuries

World Market Update

Recent Comments

Tags

Reproduction Policy

JohnGaltFLA.com Privacy Policy