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"The Waterfall Of Reality": A Visual History Of Cyprus' Credit Rating
It was May in 2010 that Greece suffered its first bailout by its Eurozone peers. At that moment it effectively went bankrupt, however it took nearly three years for reality to set in. Yet it wasn't...
View ArticleUnion: One Survived; One May Not
Submitted by Mark J. Grant, author of Out of the Box,Uncounted Liabilities One of the most interesting issues of what has happened in Cyprus is where was the problem three weeks ago? There was not a...
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Are Businesspeople Really Fooled?
The Austrian Business Cycle Theory (ABCT) rests on the idea that the manipulation of interest rates disrupts the coordination between the intertemporal utilization of resources and intertemporal...
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The Cyprus Cartoon Catalog
(h/t Pater Tenebrarum of Acting Man blog)Sometimes a picture paints a thousand words and with markets treading water ahead of any news out of Cyprus, Russia, or Brussels, we thought some brief levity...
View ArticleFurious Merkel: "Cyprus’ Decision To Test Europe Is Unacceptable"
Europe's paymaster - that would be Germany for those who have not paid attention to events over the past four years - is not used to being snubbed. It certainly is not used to being snubbed by what...
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Cyprus Shifts To Plan 'DD' (Douple-Dip The Large Depositors)
It seems that the Cypriot government is going full circle on its plans to save its nation and its people. As UK Think Tank Open Europe notes, "it now seems we have come all the way back round to the...
View ArticleThe Merkel High Wire Act Is About to End... When She Falls, So Will Europe
German Chancellor Angela Merkel has walked a tightrope over the last few years of keeping the EU together without infuriating the German populace to the point of having to abandon ship. To do this,...
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Euro Surges On Optimism Cyprus To Be "Fixed" In Hours
EURUSD (and implicitly the algo-connected S&P 500 futures market) is surging on the basis of optimism (for the new 'deposit tax plan') from the head of the party that abstained from the previous...
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Guest Post: Time To Plan For The Worst Rather Than Hope For The Best
Submitted by Brandon Smith of Alt-Market blog,Preparation for disaster, whether natural or man-made, should be as vital as any ideal found in the various practices of religion and spiritualism....
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Cyprus Officially Passes Capital Controls Into Law
While it is unknown if the Cypriot parliament will agree to, and enact into law, the Troika-demanded deposit haircuts, after the shocking vote of mutiny against Merkel earlier this week that saw not...
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The Harder They Come, The Harder They'll Fall...
Markets are remarkably schizophrenic about where risk is flowing... and where it isn’t. For example, ConvergEx's Nick Colas notes, the CBOE VIX Index is up from 12.3 a month ago to a close of 14.0...
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Chris Martenson Warns "Market Risks Today Are Higher than Ever"
Submitted by Chris Martenson of Peak Prosperity,After the shot across the bow in 2008, you might have expected that regulators and market participants would use the experience to change for the better,...
View ArticleAs Cyprus Collapses, It's A Race To The Mediterranean Gas Finish Line
Submitted by Jen Alic of OilPrice.com,Cyprus is preparing for total financial collapse as the European Central Bank turns its back on the island after its parliament rejected a scheme to make Cypriot...
View ArticleJPMorgan On The Inevitability Of Europe-Wide Capital Controls
With the Cypriot government still 'undecided' about what to 'take' and the European leaders very much 'decided' about what to 'give', the fact of the matter is, as JPMorgan explains in this excellent...
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The End Of The Central Bank Put: From Mugabenomics To MadMaxnomics
Authored by Joel Guglietta, originally posted at Steen Jacobsen's blog at TradingFloor.com,There exists a super-Bernanke who proved also a super-Hollande, a gentleman who Japanese Prime Minister Shinzo...
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Currency Positioning and Technical Outlook: Dollar Correction at Hand?
The global capital markets in general, and the foreign exchange market in particular took Cyprus developments better than most expected. The lows in most of the major currencies were seen early in the...
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Liar, Liar Banking System On Fire! Watch As I Spit Fact That Burns Down The...
On Monday, 25 June 2012 I penned "No Capital Controls In The EMU? Liar Liar Pants On Fire". Let me excerpt the first paragraph so as to bring those who have not read it up to speed before we jump into...
View ArticleCyprus Deposit Levy Vote Delayed, Will Go "Down To The Wire" As Up To 70%...
While GETCO's algos were poised to set off a buying tsunami yesterday the millisecond a flashing red headline hit Bloomberg with even the hint or suggestion that Cyprus is fixed, we said to sit back...
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How The Only Market That Is Open Reacted To Today's News & Rumors
There are no regulated financial markets open today; no BIS-buffered FX market, no Fed-spoon-fed US equity market, no BoJ-jawboned Nikkei 225, and no ECB-sponsored Spanish bond market to judge today's...
View ArticleIs China Heading For Its Own Arab Spring? Pt 2
This is a continuation of a series of article regarding China’s “miracle.” To read the first two parts, click here and here. China’s “recovery” is largely the result of a massive expansion of its bank...
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