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Tag Archives: EU

Gold, Greece and the end of the era of the central banker as (g)od

“You can run on for a long time…Sooner or later God’ll cut you down…” – Johnny Cash

Greece got “subprimed” into the EU. It didn’t have the credit rating to be part of the euro experiment but Goldman Sachs found a way to make Greek numbers palatable to Brussels (Brussels wanted Greece anyway) in 2000. Now reality has come and Europe’s southern economic headland is disintegrating.

As the author of the attached article correctly notes the most recent Greek crisis represents a transition in the economic narrative. (It’s not just Greece though. What’s happening in China and in South America is also a big part of it.) Of course the Austrian economists have known that this day would come sooner or later. Yes, one can print. Yes, one can paper over an economy for a while. But sooner or later the cracks in the paper mache appear.

Greece is a big crack.

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Swindle Alert: How To Spot The Fed’s Impending Bailout Of Europe

How does the Fed get dollars to European banks when said banks run out of dollars in which to do dollar denominated business? Print some new ones, then have the euro banks swap euros for the new dollars. A little of this. A little of that. And presto, mini euro-bailout. (Or maybe not so mini depending on the circumstances.)

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Want to get cash out of your bank account? You have to pay a tax first in Greece

At this point if you still have a pile of euros in a Greek bank you almost deserve to be taxed in such a terrible way. Of course most of the accounts in play here aren’t stuffed to the gills with money but are everyday accounts used for paying rent and buying groceries.

But not to worry, rich folks may soon see capital controls on transfers of over a million euros. And if you have a million euros in a Greek bank at this point, after all that has happened, I don’t have all that much sympathy.

Both the withdrawal tax and the capital controls still have to be approved by authorities. One can only assume that queues are wrapping around the Athens Wells Fargo as I write this.

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Negative interest rates put world on course for biggest mass default in history

Call it the new abnormal.

Since 2008 the world has been turned upside down. In our collective panic we have disrupted whatever used to pass for economic homeostasis. Now the globe is moving (moved) toward a negative interest rate environment for government bonds.

Please, take my money. I’ll pay you to take my money! Why am I paying a government to hold my money? Well, because the economy is so healthy of course.

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The massive corruption in Eastern Europe which facilitates terrorism, war, and heroin in the rest of the world

This comes from a good friend of ACC . I encourage everyone to take a look at the attached report as it gives a very interesting perspective on what is really going on in that vital part of global real estate where Europe, The Middle East, and Asia converge. 

Natasha is the a Co-Founder of The Adriatic Institute. Her Twitter handle is @NatashaSrdoc.

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Nigel Farage cautions against an EU army from the floor of the EU Parliament (Video)

“And who could forget Eurocorps here in Strasbourg last year, virtually goosestepping that ghastly flag around the courtyard outside.”

Farage believes that the current rising tensions with Russia are being used by some in Europe as an excuse to expand EU military powers. Powers some in the EU have long coveted.

But an armed European Union with all of the Continent under 1 flag is a worrying development as far as Mr. Farage is concerned. And one he feels should be of concern to his countrymen and to the broader world.

The “goosestepping” jibe while the EU Parliament was meeting in Germany was calculated.

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