ITALY


6 Years Later the PIIGS and Europe Still Wallow in Bear Markets

by John Galt July 31, 2016 10:00 ET Everything is great. All is quiet on the Western Front, Eastern Front, and Main Street economies with sluggish growth but new all time highs in key equity markets promoted for television purposes. The problems in Portugal, Ireland, Italy, Greece, and Spain are solved because CNBCCNNFBNFNCBBG does not want to cover them on a daily basis. Hence it’s all awesome: Right? Despite the fact that the over indebted United States has managed to hyperinflate its way into a new all time high in equity…


Hillary Clinton has Another Reason to Hate Obama

by John Galt July 19, 2016 20:45 ET Poor Hillary. Okay, I’m joking and right about now the 5 Clintonistas that read my blog on a daily basis are probably blathering about what kind of hate I’m about to spew about their witch, er, candidate. Unfortunately, for them, this is an observation on the gift that keeps on giving: the manipulated fraudulent Obama economy. After eight years of manufactured and at best fictional economic data the Clinton campaign should be worried about what is about to hit. Besides, as she says…


The Shellacking Continues as Britain is Just the Tip of the Real Estate Iceberg

by John Galt July 5, 2016 20:50 ET The absolutely bull whipping of investors in foreign real estate continued today as 2 more property funds in the United Kingdom froze redemptions after Standard Life started the ball rolling on July 4th. M&G became the third company to shut down redemptions from its property fund as it stated (via Bloomberg): “Investor redemptions in the fund have risen markedly because of the high levels of uncertainty in the U.K. commercial property market since the outcome of the European Union referendum. Redemptions have now…


08.22 TEOTWAWKI 2 Hour Radio Special: Natty B joins me in Hour 2 as the World Implodes

by John Galt August 21, 2014 20:30 ET Natty Bumppo (Bobby from Just Measures) is going to join me on the air Friday night after the 9 pm ET break to discuss the Ebola crisis further, which keeps expanding even more rapidly than originally projected, the precious metals markets, and how the economy functions in a cashless society. So bring your chip implanted hand and your favorite cocktail to the computer or favorite listening device as the news in Hour 1 will put you in the fetal position and hour 2…


There’s that “Unexpected” word again: Italy Slides Back into Recession

by John Galt August 6, 2014 05:50 ET For some strange reason, the Italian stock market did not take this “unexpected” news very well: The headline from CNBC and Reuters says it all: Italy unexpectedly slides back into recession Excerpt from the story: Italy’s economy unexpectedly slid back into recession in the second quarter as gross domestic product shrank 0.2 percent from the first three months of the year, preliminary data showed on Wednesday. The result was below all forecasts in a Reuters survey of 25 analysts, which had pointed to…


05.04.14 1100 ET Ukraine Alert: Fighting in the East Continues, Odessa Prisoners Released, Italy willing to send Peacekeeping Force

by John Galt May 4, 2014 11:00 ET The situation after a day of utter chaos in the Eastern Ukraine is no more peaceful today than it was yesterday as the pro-Russian separatists in the Eastern Ukraine continue to move to seize territory and harden their positions against the ongoing attacks of the Ukrainian Army. This morning, the primary focus of the action appears to be around Sloviansk: From RIA Novosti: SLAVYANSK, May 4 – RIA Novosti. Firing heard near the railway station on the outskirts Sloviansk, RIA Novosti reported. Some…


For Sale: One Unused Venetian Revolutionary Armored Vehicle and Numerous Firearms

  by John Galt April 2, 2014 20:10 ET In keeping with the fine Italian tradition of making unused firearms and military equipment available via surrender, Russia Today reports that the budding Veneto (Venice, Italy) independence movement continues the practice of surrender first, drink wine second, think about fighting last: Veneto ‘independence plot’: Italy police arrest 24, seize ‘tank’ Italian police have arrested 24 “separatists,” including an organizer of the online Veneto independence referendum. Police suspect them of plotting to take over Venice’s iconic St. Mark’s Square with a bulldozer which…


The PIIGS plus Cyprus are Back in the News

  by John Galt July 3, 2013 05:45 ET   What a bloodbath in Portuguese markets this morning!   (chart from Bloomberg.com) The political crisis there pales compared to Greece as the EU has given a 3 day deadline for the Greek government to get back into compliance with their bailout agreement or there will be consequences. (chart from Bloomberg.com) Of course the PIIGS are limited to having only 5 official members so Cyprus is just the plus one so far (unless of course one considers Croatia as 1a and Hungary…


Time to Score this Blogger’s 2012 Predictions (Ugh)

  by John Galt December 30, 2012 15:00 ET   So how did I do?     First, unlike many bloggers, prognosticators, commentators, and hosts, I will refer to my predictions for this year that is about to end by reminding everyone they can see my mistaken and correct predictions of doom in this thread from my radio show and in this thread:   JohnGaltFLA.com Predictions for 2012   Let’s break this down, section by section and score it by +1 for correct, -1 for wrong, and of course “0” for…


The Approaching Black Market for Precious Metals

  by John Galt September 11, 2012 23:00 ET   Imagine a world where the average Joe Schlub walks into his favorite coin dealer and asks his friendly retailer, “Hey Mike, can I buy a roll of silver American Eagles off of ya?” Before Joe can whip his wallet out, the retailer slides a government tax form in front of him and states, “Sure, just as soon as you fill this form out, provide two forms of certified identification, fill out this bank statement release form, and a thirty-four percent down…


8/6 AEP: Germany and Italy near blows over euro

  by John Galt August 6, 2012 21:25 ET   For some strange reason, I don’t think Germany and Italy have been barking at each other this much since 1943. And wow, does this dispute make that verbal sparring between Mussolini and Hitler look meek compared to what is going on between Merkel and Monti now.   Ambrose Evans-Pritchard covers this dispute tonight in his commentary in the U.K. Telegraph:   Germany and Italy near blows over euro   How bad is it? Check out this snippet from the article:  …


Moody’s Just downgraded Italy Closer to the Poop Status that it IS

  by John Galt July 12, 2012 19:55 ET Gee, what a busy news night already. And now Moody’s decides to proclaim the obvious by calling a steaming pile, a well, steaming pile. Italy’s credit rating was just zinged again, and the full release is at the title if one clicks on the link. Woswer. This will be good for the ECB which bought all those 1 year notes this morning….   Moody’s downgrades Italy’s government bond rating to Baa2 from A3, maintains negative outlook Global Credit Research – 13 Jul…


June 17, 2012 A World in Turmoil

  by John Galt June 17, 2012  08:30 ET   With the news of the last week, some of which I have linked to in this piece, it is amazing when one takes a step back and realizes that we truly are witnessing a world in turmoil. This is how it begins with a lack of U.S. leadership as a vacuum creates opportunity for radicals to create problems worldwide, and of course the biggest black hole in the world is in Washington, D.C. where the word “leadership” is a joke. Each…


06.14.12 Ambrose Evans-Pritchard: Dutch disease

  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 in April, even worse than the…


This Could be the Go Time Weekend

  by John Galt June 14, 2012 12:00 ET   First and foremost, this is just an advisory of what my personal plan of action will be over the next 120 hours and not a recommendation for anyone to repeat or engage in any of these actions, especially if they can not afford to do so. There is not guarantee that this is the weekend where the events in Europe and the Middle East create the ultimate storm of financial disruption which washes over the American seawall like a Tsunami of…


And another Failed Italian Bond Auction

  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 are lumping Italy into the PIIGS…


06.03.12 AEP: The week that Europe stopped pretending

  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.   “Europe continues to try to…


7 Charts Indicate Why Europe is Doomed

  by John Galt June 1, 2012 05:15 ET   (All charts courtesy of Bloomberg.com)   Have my readers ever wondered why the financial networks always show 1 year, 6 month, or 3 month charts of stocks, bonds, or indexes whenever possible? Perhaps these seven charts will indicate why they prefer to color the truth and hide the seriousness of the economic realities of Europe. I have posted the charts of the major stock market indexes for the PIIGS plus Cyprus and Hungary to offer perspective as to how severe the…


5.29 AEP: Europe’s debtors must pawn their gold for Eurobond Redemption

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 as the European Redemption Pact —…


FYI, I will be a guest on TruNews with Rick Wiles via Shortwave and the Internet Tonight

by John Galt May 29, 2012 19:00 ET   Tonight I will be a guest on Rick Wiles’ TruNews program broadcasting at the following locations:   Via the internet at this link.   ON Shortwave via:   World Wide Christian Radio (WWCR) shortwave frequency:   9350   6pm Eastern 5pm Central 4pm Mountain 3pm Pacific   World Harvest Radio shortwave frequencies:   5920 9860   9pm Eastern 8pm Central 7pm Mountain 6pm Pacific   Last but not least a moment to thank Rick Wiles for his contribution to the Radiothon with…


Italy Reports Businesses suffering a Credit Crunch

by John Galt May 22, 2012 17:45 ET   In a not so subtle article from the newspaper Adnkronos, the crisis in Italy is far from over and might indeed be accelerating:   Businesses suffering ‘credit crunch,’ report says   This excerpt from the story tells of a tale of woe growing month by month:   Italian businesses are facing a credit crunch,” according to a report by the national statistics agency.   Last year “modest investment activity was accompanied by a growth in the difficulty to access bank credit,” said…


Moody’s P*wns the Italian Banksters – 26 Banks Downgraded

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:   1.) Increasingly adverse operating conditions,…


Signs of the End: Italian Military may be deployed to protect Tax Collectors

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 democratic will of the citizenry and the…


4.19.12 HARDCORE News

by John Galt April 19, 2012 23:40 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: China assisting North Korean missile program: U.S. Defense Secretary China reports bird flu outbreak NATO head calls on China, Russia to help fund Afghan forces Bashir says Sudan to teach South “final lesson by force” Italy tax police seize 20 pct of Premafin capital Forty-nine killed and 187 wounded in various attacks in…


Italy = Borat…Thank you ZeroHedge for the Tweet of the Day

by John Galt January 13, 2012 18:00 ET And now, presenting the Tweet of the day courtesy of ZeroHedge: I think old “Tyler Durden” said it without thinking of us minions and our twisted sense of humor. However, here is S&P’s downgrade in full from their website (Click on this link to read the full damage):   S&P downgrades Italy rating via Channel News Asia Posted: 14 January 2012 0508 hrs ROME: Standard and Poor’s has decided to downgrade Italy’s credit rating by two notches to BBB+ from A, Italian news…


1.10 U.S. Market Preview: It’s the Republican NH Primary Day so it must be time for the Rally Monkeys

by John Galt January 10, 2012 05:15 ET Here we go again. The Republicans are holding their primary today in New Hampshire and like good little rally monkeys they will march to the polls and vote for a New England clone of George W. Bush because “this time it’s different” and Romney would never do any of the things that idiot Bush did. At least that’s what they would have you believe. With Alcoa reporting a quarterly loss, Italian 10 year yields over 7.10%, and the IMF troika meeting with the…


JohnGaltFLA.com Predictions for 2012

JohnGaltFLA Predictions for 2012   By John Galt January 1, 2012 – 17:00 ET I. Geopolitical Predictions          1. The United States constructs a new large military base in Columbia near the Venezuelan border in anticipation of the collapse of the Chavez regime. The new focus on South America is seen as a desire to refocus American foreign policy as the Middle East rejects any further interference from the United States. Columbia welcomes the action as it intertwines the U.S. into their internal conflicts and guarantees economic cooperation as their oil…


12.30 V of Galt: Predictions 2012 Live and in Color

By John Galt December 30, 2011 07:50 ET Buckle up. 2012 is almost here. Last year I was so-so in my predictions and for 2012 I probably will be also. If you are meek put on your Depends for this show or just assume the fetal position when the theme music stops. In the first half hour I’ll cover the news of the day, the financial news and then begin the prognostications which cover geopolitics, sports, U.S. politics, the economy, weather, and whatever else I feel like. There are no guarantees,…


12.30 U.S. Market Preview: 2011 is over, here comes the Bear

By John Galt December 30, 2011 – 07:43 ET While many a commentator and bubblevisionista will argue that 2011 was a “safe” year with the Dow up about 6% for the year and the S&P 500 treading water but up slightly, the decline in the NASDAQ is the lesson of the year and a warning sign for stocks in early 2012. Traditionally during an election year markets rally as the election gets closer and I expect 2012 to be no exception. While timing is everything, and mine sucks as I will…


12.29 U.S. Market Preview: It’s a PIIGS Porkfest

By John Galt December 29, 2011 – 05:25 ET There is nothing Santa can do now but go home to the North Pole and melt the ice with the good Mrs. now, as the markets are totally focused on the reality of the PIIGS problems once again. The Euro is hovering and barely holding the 1.29 level as I type this, gold is moving south once again preparing to make new lows, and the yields on the 10 year Italian bond is well above 7.00% once again as displayed above. The…


The Coming Collapse might be your Final Chance to Legally Buy Physical Gold this Decade

By John Galt December 14, 2011 – 07:15 ET The current European implosion is bringing about a probable once in a lifetime opportunity which sadly might just be the last chance this decade to buy physical gold before capital controls worldwide and within the U.S. make it difficult if not impossible. The history of economic strife and plans by world governments to impose massive restrictions on the flow of funds to prevent internal collapse make gold an attractive target for seizure as political failings along with management of command control economies…


The War on Real Money Accelerates: No Casha Puleasa

By John Galt December 4, 2011 -21:00 ET The latest nation being forced by the fiat funny money central banksters to impugn the use of and punish those who dare to use cash or eventually real money in business transactions is the new group of slaves no residing in the former great empire of Rome. From Reuters: Italy PM prepares to adopt crisis measures Think this can not happen in nations not named Zimbabwe? Read this sentence from the story by Guiseppe Fonte: Other expected measures include further increases in value…


Did the ECB and Fed Decide to Abandon Portugal, Ireland, and Greece today?

By John Galt November 30, 2011 – 12:50 ET If I were to offer an unbiased opinion, I would say that it is too early to tell. However, the lack of a vociferous and solid course of action for the EFSF to bail out anything beyond what has been established for the nations of Portugal,Ireland, and Greece versus the abject panic in Berlin and Paris about the collapse of Italy and Spain tells this blogger that indeed, a decision may have been made to limit exposure to the PIG nations and…


One word for today’s Italian Bond Auctions: Brutal

By John Galt November 29, 2011 – 05:25 ET This is just nasty. Brutal. Horrid. The auction for the 2022 bonds came in with at 7.56% yield and the 2014 auction at 7.89%, both of which are Euro era highs since Italy joined the Union. For Italy and the European Union this is not sustainable and oh, by the way; that’s how the Greek tragedy started. The Italian stock market was not thrilled: This could get interesting as the markets adjust to the new higher borrowing costs in the PIIGS and…


11/21 U.S. Market Preview: The Blame Game

By John Galt November 21, 2011 – 07:15 ET With futures looking pretty ugly already, the blame game has begun. Blame the Spanish election. Blame the Italians. Blame the Greeks. Blame the ECB. Blame the extra-Constitutional super-committee. In reality these entities have been the problem all along, creating a nightmarish if not illegal Ponzi economy which as it implodes takes layer upon layer of their citizen’s wealth with them. The desperation expressed by the financial and political elites to preserve their power base and the status quo is at levels unseen…


11.17 U.S. Market Preview: European Contagion Spreads like Wildfire

By John Galt November 17, 2011 – 05:40ET Nothing like waking up to a failed bond auction. Despite the spin, there is no other way to describe today’s 10 year Spanish bond auction where the target sale allocation was € 4 billion but they were only able to sell € 3.6 billion on weak demand and at a record high median yield of 6.745% and a high end yield of 7.08%. The Reuters headline hits the nail on the head: Spain bond sale costs soar toward danger levels From the article:…


11.16 U.S. Market Preview: The Eurocoaster Continues to Thrill

By John Galt November 16, 2011 – 07:00 ET If anyone thinks the roller coaster is over with, look at this chart of the S&P futures from last night through the early morning hours and until about 6:50 a.m. EST: (all charts courtesy of ForexPros.com) So the photo at the top of this thread of the Millennium Roller Coaster or the S&P chart are pretty much identical. Please keep your hands and arms inside the car at all times and strap yourself in as the Euro is going to make everyone…



11/15 U.S. Marketwatch: Da Euro is Da Kaput

By John Galt November 15, 2011 – 05:15 ET (chart from INO.com) Oops. The European Union’s reserve currency is showing signs of cracking again this morning as it falls back into the 1.35 range once again and the Italian/Greek/Spanish/Irish/Portugal/Hungarian/Austrian/French debt/banking/government crisis (circle all which match today’s news) accelerates into the winter. The only thing missing is a group of alcohol filled or drug induced bums and losers marching on the stock exchanges or city halls of large cities in those nations; er, never mind, that’s in the U.S. Needless to say…


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