The Great Collapse Has Officially Begun

Posted by: Phoenix Capital...

Post date: 08/20/2011 - 16:51

In plain terms, we’re entering a period in history that will rival the Revolutionary war. This country will be very very different by the time it has ended. Many people will lose everything...

 

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Bob Eisenbeis: Central Bank Policy, Euro Bonds, and QE3

Posted by: rcwhalen

Post date: 08/20/2011 - 16:44

In order for the  FOMC to keep the funds rate within the desired range, it will have to purchase whatever government debt exists or is issued into the market.  This amounts to... 

 

 

 

 

 

Geopolitical Risk Is Back As Libya And Israel Make Headlines

As if the global liquidity crunch was not bad enough (as we enter a vacation sleepy week, the key report on Monday will be the ECB's bond purchase update for last week - we estimate another E30 billion in secondary market monetizations, in addition to how many banks pulled dollars from the ECB in the 7 day liquidity providing operation on Wednesday as occurred first last week), geopolitical risk is back after headlines from both Libya and Israel indicate that the Levant region is on the verge of systemic instability once again. The first two stories put Israel smack in the middle of the Middle East action. First is Egypt, which earlier "said Saturday it would withdraw its ambassador from Israel, insisting the killing of five Egyptian security personnel while Israeli forces pursued gunmen across the border was a breach of its 1979 peace treaty with the Jewish state." Complicating matters is the announcement out of Iran, via AP, that "two American men arrested more than two years ago while hiking along the Iraq-Iran border have been sentenced to eight years in prison on charges that include espionage, state TV reported Saturday, a sharp blow to hopes their release was imminent. The announcement seemed to send a hard-line message from Iran's judiciary — which answers directly to the ruling clerics — weeks after the country's foreign minister suggested that the trial of Shane Bauer and Josh Fattal could clear the way for their freedom. It also was likely to raise speculation about Iran using the Americans as political bargaining chips and could bring added tensions to Iranian President Mahmoud Ahmadinejad's expected visit to New York next month." The cherry on top is late news out of Libya that the local rebel movement may be making headway (since denied by the government) in taking over Tripoli. Net result will be even more instability in the crude market which has been expected to drop courtesy of the recent spike in deflationary expectations. Alas, when geopolitics enters the equation, the only certain thing is a surge in uncertainty. That this will likely not benefit global equity markets goes without question.

Alasdair Macleod: Merkel, Sarkozy impotent amid debt crisis

 

Chilton to speak on silver again if CFTC doesn't do so by next month

 

 

Mike Kosares: Venezuela pushed the golden Humpty Dumpty off the wall

 

 

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