Alasdair Macleod: Quantitative easing, or when there's nowhere left to run

 

 

European Mission Accomplished: Everyone Is Now Thoroughly Baffled With Bullshit

Some time ago we suggested that in lieu of actual practicable solutions (and a promise to recapitalize several trillion worth of insolvent banks absent some magic money printing tree or gold coin defecating unicorn, is so stupid only the market ramping vacuum tube algos can believe, if only for a few hours), the only thing left for Europe's leaders is to baffle absolutely everyone with relentless bullshit. Judging by the following Bloomberg news screencapture, they have now succeeded.

Once Again, Because It Will Never Get Old, Here Are The Safest European Banks According To The Second Euro Stress Test

The futures are soaring on the latest round of promises from Europe that all shall be well, and after all why would anyone ever doubt anything coming out of Europe. Why, here are the safest Europan banks according to the second Euro stress test completed just 3 short months ago. But this time really is different...

Key Market Events In The Coming Week: More Promises, Headlines And Rumors; And A Very Critical Vote In Slovakia

Key this week will be the final missing EFSF votes, in particular Slovakia. The latest headlines over the weekend suggest the governing coalition has still not found a compromise and will meet on Monday again. The votes of 22 MPs for the SaS party in the 150-member Slovakian government are now the main stumbling block to bringing the effective EFSF lending capacity to EUR440bn and to increase the EFSF’s flexibility. The parliamentary EFSF vote is scheduled for Tuesday. On Monday, the second-to-last vote on the EFSF will be held in Malta. Still linked to the Eurozone crisis, President Sarkozy and Chancellor Merkel agreed over the weekend on the need for bank recapitalisations and the need to find a “durable” solution for Greece. There has also been talk about a “vision” for the Eurozone and a promise for a plan by the November 3 G20 summit. Markets will likely focus on any additional details regarding the bank recapitalisation plan. Of course, Greek issues will remain important as well, in particular after Troika officials have been quoted in the media as criticizing the Greek Government’s determination to implement structural reforms. The results from the Italian bond auction on Thursday may increase the pressure on the Italian government to undertake more growth-enhancing structural reforms, as again demanded over the weekend from the next ECB President Draghi.

How To Hide Your Gold: A Bloomberg Primer

A world insolvency crisis, a Thermidorian reaction in Egypt, a hard landing in China, the first non-PIIGS nationalized bank... The world is on fire yet despite all of the above (or rather due to) what is the topic of one of the most commented articles on Bloomberg over the past week? Why how to hide one's gold. Bloomberg's Ben Steverman writes: "If you’re looking for a safe place to put your investments, Chad Venzke has a suggestion: Dig a hole in the ground four feet deep, pack gold and silver in a piece of plastic PVC pipe, seal it, and bury it. Venzke is hardly the only investor who wants his precious metals nearby at all times. A pound of gold worth about $24,000 can easily fit in a pocket; how to protect it is a decision that carries expensive consequences. Do-it-yourself investors who don't trust banks must find creative storage options, whether burying gold in the yard, submerging it in a koi pond, stashing it behind air-conditioning ducts, or placing it under carpets." Indeed, as Venezuela is about to reclaim possession of its tons of gold from UK vaults, even as the Dutch central bank proudly admit to hiding its own gold in precisely the same venues that are no longer good enough even for Chavez, the topic of where one should hide their physical is rapidly becoming a very incendiary. One thing is certain: among the hard core "physical" community, the idea of storing it in the same banking system that would be insolvent once the fiat status quo collapses, is verboten anathema. So what are the options?






When False Premises Become Economic Policy

Posted by: testosteronepit

Post date: 10/09/2011 - 22:49

Dire numbers prove that running up deficits and printing trillions can't create a healthy economy. Yet, inexplicably, it's what the status-quo media continue to propagate.

Gold Investing: Detailing Gold’s Wild Q3



Silver Futures Auction Market Perspective






Holiday Retail Sales Set To Slide Amid High Unemployment and Low Consumer Confidence



A job is becoming a dim memory for many unemployed




Used Car Dealer Becomes a Horse Trader




World facing worst financial crisis in history, Bank of England Governor says

 

Economic Apocalypse Goes Mainstream: Meltdown In Two To Three Weeks; It Will Spread Everywhere; Most Serious Financial Crisis Ever; Worse Than Great Depression



 
BBC Does It Again: "In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks

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