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The Cyprus Lie Changes Again: Capital Controls Will Be Present After All
In an unsurprisingly supportive tone for the ECB and the Eurogroup, Cypriot Central Bank governor Demetriades says:*DEMETRIADES SAYS SUPPORTED FIRST EUROGROUP PROPOSAL ON CYPRUS, and*DEMETRIADES SAYS...
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Deposit Confiscation Fears Drive Bund Yields Negative For First Time This Year
If you had a deposit greater than EUR100,000 in any peripheral European bank, where would you place it (assuming it was not already under some anti-European Union capital control)? It seems we have the...
View ArticleCyprus And The Eurozone Bank Bailout Hypocrisy
Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichterCyprus didn’t prick the Eurozone bailout bubble, the notion that bank investors who took enormous risks to gain financial...
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European Bank Bonds Plunge To 5-Month Lows
Close-to-close, headlines will be happy that things do not appear to be collapsing in Europe. The broadest equity indices only lost a fraction of a percent and bonds ended unchanged. But the action in...
View ArticleContrary To Prior Lies, Spanish 2013 Economic Contraction Even Worse Than In...
The Bank of Spain just sent a stark message. In its annual update of economic forecasts, it estimates Spain's economy will shrink 1.5% in 2013 - that is three times as bad as the official government...
View ArticleGuest Post: The Good, The Bad, And The Extremely Ugly Of The Cyprus Deal
Authored by Yanis Varoufakis, originally posted at YanisVaroufakis.com,There are some good features of the Cyprus deal and, of course, some bad aspects. However, its repercussions for the Eurozone as a...
View ArticleThe Great British Cash EUxodus Begins
UK's deVere advisory group reports, "more and more expats in Spain, Italy, Portugal and Greece are now not unreasonably worried for their deposits in these countries," and are seeing a "surge" in the...
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Phrase Of The Day: "Irrational Divergences"
Deja Deja... oh forget it. S&P failed to make its all-time highs. We dipped (on heavy volume) and wiggled all the way back on no volume in stocks. Healthcare and Utilities lead the week but...
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Guest Post: A Sane Person Ought To Consider These Important Lessons
Submitted by Simon Black of Sovereign Man blog,One would think that certain truths are obvious by now.It should be obvious, for example, that there are consequences to living beyond your means.It...
View ArticleMoody's: Cyprus Euro Exit Risk Substantial
Though it may seem a little like stating the obvious to many, Moody's comments:While the risk of a euro exit by Cyprus is substantial... ...following the economic dislocation that will be caused by the...
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Stunning Facts About How the Banking System Really Works … And How It Is...
Paintings by Anthony Freda: www.AnthonyFreda.com.Reclaiming the Founding Fathers’ Vision of ProsperityTo understand the core problem in America today, we have to look back to the very founding of our...
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Pair Trade Opportunity Of The Year: Long European, Short Chinese Caterers
It has been a recurrent joke that in addition to Germany (see chart), the only winners out of the slow-motion trainwreck that is the Eurozone, are the Belgian caterers who in 2010, 2011 and 2012 had an...
View ArticleThat Physical Gold You Thought You Owned? You Didn't
Earlier today, the CFTC issued an order and charges against two Boca Raton companies, (Joseph Glenn Commodities LLC and JGCF LLC, and their owners Scott Newcom and Anthony Pulieri) which accused the...
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Cyprus Brings the Pain: Sparks Ignite
Cyprus Brings the Pain: Sparks Ignite Justin Burkhardt | FXFocus.com What once was a distant noise is now ringing loudly through the streets of Europe. The pain of Cyprus is being felt throughout the...
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Flash Crash Mystery Solved
Via NanexFlash Crash Mystery SolvedBelow are portions of a comment letter submitted by R.T. Leuchtkafer to the SEC on April 16, 2010, just 3 weeks before the flash crash. The second paragraph in the...
View ArticleThe ECB Has Two Potential Hail Mary Passes... Neither Will Work
Over the last five years, market participants have largely operated based on the “Bernanke Put” (the belief that no matter what happens Bernanke will somehow save us). However, the ECB’s Mario Draghi...
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Guest Post: Second LNG Super Tanker Arrives In UK To Help With Natural Gas...
Submitted by Joao Peixe of Oil PriceSecond LNG Super Tanker Arrives in UK To Help with Natural Gas ShortageDue to unseasonably cold weather the UK has seen high demand for natural gas, far higher than...
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The Definitive Cyprus Bailout Infographic
Everything you wanted to know about the 'unique, exceptional, non-template, toolbox-of-blueprint-instruments' bailout of Cyprus but were afraid to read more than 100 words.
View ArticleBuchheit On Cyprus: "The Situation Is Spiralling Down", And Why A Second...
When the world's leading expert on Sovereign debt restructurings believes that the endgame for Cyprus might be another round of restructuring, adding that "I'm not sure this is over," it is important...
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