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Showing posts with label europe. Show all posts
Showing posts with label europe. Show all posts

Sunday, December 8, 2013

Europe confirms bank bail-ins to be used during ‘Future of banking’ conference

Irish Finance Minister Michael Noonan confirmed that bank bail-ins will be used throughout Europe during a major conference of financial leaders on Dec. 3.  In a meeting known as ‘The Future of Banking in Europe’, ministers from countries throughout the Eurozone voted on a number of programs that could be implemented to stave off the next round of bank crises, with direct confiscation of depositor accounts overwhelmingly finding approval.


Read more on this article here...

Sunday, August 18, 2013

As the West continues to print money, Russia quietly became the largest economy in Europe

Real economics is not about debt and money printing, but about tangible resources, production, and growth.  And while the West continues to rely up central bank easing to keep their financial systems from collapsing, Russia has quietly moved into the 5th spot in global GDP, and became the largest economy in Europe, even surpassing Germany.


Read more on this article here...

Monday, October 1, 2012

Gold closes in on $1800 on events in Spain and words from Fed President

In early morning trading on Oct. 1, gold and silver both shot up to new 2011 highs on news out of Spain of a potential bailout, and additionally, through the desire for even greater Fed action by Chicago Fed president Charles Evans.



Gold and Silver and surging this morning as the Fed's Charles Evans talks on CNBC of the need for more accomodative policy by the Fed. His 'infiniter' easing seems to have sparked this move as he clarifies the seeming psychopathy of the Federal Reserve's actions. His message clearly is that the amount doesn't matter (nor the unintended consequences), the printing and flooding of money into an already stuffed banking system will continue until morale improves. - Zerohedge

To add more fuel to the fire, Europe came out with new unemployment numbers for the Eurozone, and the jobless have now reached record levels.

The eurozone unemployment figures came in at 11.4% in August. This data was compiled for the 17 nations in the single currency and equals the data of June & July after their figures were revised upwards.

This is the highest since they began recording the eurozone jobless claims in 1995. In a region with such diverse economies Germany remains at 5.5%, while debt beleaguered Spain is at 25.1%.

This clearly shows that the economic crisis in Europe is far from over and certainly cast doubts that the ECB bond purchase plan can resurrect the economy. The ECB is targeting the economy to contract again at -0.40% down from an earlier forecast of -0.10%.

Factory output has shrunk for 14 consecutive months and businesses must continue to trim the fat of their organizations during these recessionary times.

The report showed that 18.2 million people were jobless in September; this is an increase of 34,000 people versus the previous month. - Goldcore via Zerohedge

The Western economies are cracking, with recessionary numbers in durable good sales, and GDP numbers.  Unfortunately, the FED's recent action of open ended QE is not doing much to stave off collapse in Europe, and inflation in the US is already showing signs of exploding with gas prices over $4 a gallon in many state regions.

Wednesday, December 7, 2011

New report shows that gold is not only prudent but vital to a balanced portfolio

The debate over how to hold a balanced and equitable portfolio has been argued over for ages, with many paradigms being shattered as one economic crisis replaces another.  From buy and hold, to diversification, to high-risk young, low-risk old strategies, the number of ways to invest are as prevelent as the number of brokers.

But a new independant study on investing shows that in today's economic environment, holding and owning gold is not only prudent, but vital for both wealth protection, and system breakdown protection.

The independent research from highly respected New Frontier Advisors (NFA) confirms the importance of gold as a portfolio diversifier to investors in Europe and to investors exposed to the euro.
 During a period of extraordinarily serious economic uncertainty in the Eurozone, continued concerns about economic growth in the US heading into an election year, and the possibility of an economic slowdown in China, the World Gold Council (WGC) wanted to examine the relevance of gold as a strategic asset for euro-based investors to protect their portfolios and to mitigate the systemic risks being faced.
The report, ‘Gold as a strategic asset for European investors’, commissioned by the World Gold Council, explores gold as a strategic asset across five sets of asset allocation studies, including four using historical data spanning 1986 to 2010, and one using the 1999 to 2010 time frame.
 The third party research builds on the now considerable research and academic literature showing that gold adds significant diversifying power due to its low or negative correlation with most other assets in an investment portfolio.
 Gold’s relevance as a strategic asset is continuing to grow. This will continue in a world facing the real risk of a global recession and even a Depression, poor investment returns, currency devaluations and wars and very high monetary and systemic risk.
 Put simply, when used as a foundation asset, gold has preserved wealth throughout history and again today.
 Gold’s unique properties will protect savers and investors in Europe and internationally against the monetary and systemic risks being faced in 2012 and in the coming years. - Goldcore

While this study focusses mostly on Europe, all one in America needs to do is go back three years and see how close our own economic system came from default and collapse.  The environment here and abroad is 10 times worse than 2008, and the opportunities for currency collapse are growing, while gold remains constant as the sole hedge against that collapse, and a vital part of anyone's portfolio in today's market.

Sunday, October 30, 2011

Here it comes... Europe begging the US for a bailout

Now that the Hopium of a Greek bailout is over, and the reality that the troika accomplished very little to save the Euro and Euro Zone, the next little piig(gie) is going beyond the ECB for help, and instead is looking for the US to provide the bailout.

Now it is Portugal's turn. Reuters reports that "Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer "financial help" to resolve the euro zone sovereign debt crisis, describing it as a "systemic and global" problem, a Portuguese government source said." Of course, the "US" is a clear proxy for "everyone else" - Reuters via Zerohedge
Hey... we knew this was coming.  Now the question will be, will the Congress allow 2008 to comes again, and have taxpayers bailout European banks AND nations, or will the Fed be the one to step on, assuring an inflationary landscape that will create more turmoil than just Occupy Wall Street.

Tuesday, September 27, 2011

Activity on the Euro was the best medicine for gold and silver

As we mentioned within the past few days, the fall in gold and silver (paper) prices was tied primarily to a selloff by hedge funds, investment houses, and anyone who still had stocks due to the need for cash (primarily dollars).  Coupled with a 20 and 21% margin rate increase by the Hong Kong and CME exchanges respectively, and it is a no-brainer we got a short-term crushing of the metals.

And accordingly, all it took was for Europe to do ANYTHING that smelled of bailouts, easing, or flat-out money printing, and that rumor just so happened to begin last night.

Subsequently, gold is not up $80 from yesterdays low, and silver a WHOPPING $6 more, crossing $33.00 an ounce at the start of US trading.

Silver




Gold

Charts courtest of Zerohedge

Monday, September 26, 2011

Dont look know... gold rebounds a bit on Euro rumored kick save

It is Monday... do you know where your money went to?  As usual, the makets roared over 150 points in the final hour based on...

You guessed it, ANOTHER EURO RUMOR.

The leaked rumors of the EU's octuple-down CDO^2 bet on themselves was enough to get the buy-the-rumor juices flowing and we rapidly squeezed higher. IG outperformed, ending the day notably tighter than respective equity and HY spreads would expect as even though risk seemed on, we did not see a mad scramble for high beta and HY bonds remained offered in general. Gold and Silver managed a huge bounce off intraday lows ending the day -1.5 to 2% while the dollar sold off into the close (as EUR rallied) to end the day unch from Friday. - Zerohedge
Gold of course closed above $1600 and silver above $30 after being pummeled throughout the day.  What you need to notice is, NOTHING is in stone until the man behind the curtain, in Europe, or the US comes out like Baghdad Bob and says all is well, and an ACTUAL monetary plan is implemented.
Then... the direction gold or silver goes AFTER that REAL (not rumored) move takes place, can help you feasibly make a decision on your metals.


Friday, August 19, 2011

As gold prices rise, brokers seek to manipulate them with yet again another margin hike

Interactive Brokers bulletin board

To HKFE,HKMEX,NYMEX,NYSELIFFE traders:
Fri Aug 19 13:29:35 2011 EST

As a result of the volatile trading environment at the present time, please be advised that Exchange margins and House margins are likely to increase over the next couple of days. For exchange- specific increases, please visit the respective websites. IB will also be increasing the gold derivatives margin. Please monitor any affected holdings closely and manage your risk accordingly.

Not that it will matter in the long run, but HEY EUROPE... how did those prohibitions on short trades do for your markets this week?