Archive - Jun 2015

As we have asserted since 2012, the template for dealing with Crises has been laid out in Europe, particularly in the countries of Spain and Cyprus.

Having been picked by NASA, and funded by US taxpayers, to ship a cargo capsule to the Space Station, Elon Musk's SpaceX 9 Falcon Rocket has exploded shortly after takeoff due to what is being called an "anomaly."

A Grexit debacle easily highlights the advantages of trading throgh blockchain technology. Long story short - no FTDs, counterparty or default risk when trading forex pairs!

Multiple “emergency” meetings have been scheduled for Sunday as EU officials scramble to figure out how best to deal with what is likely to be a turbulent week and to consider the impact a potential Grexit will have on the currency bloc, its member nations and institutions, and on the global financial system as a whole. Meanwhile, Germany assesses Grexit damage.

Bloomberg: ECB SAID TO VIEW BANK HOLIDAY FOR GREECE AS NECESSARY

This next week is not so much about Greece the butterfly, but it is about keeping the butterfly from becoming a hindrance to the math working globally. And the Greek government knows this. They are negotiating on the basis that a bad Greek deal from Europe’s point of view is better than a default. Angela Merkel wanted a concluded Greek deal before markets open on Monday. Now she has a mess.

Yes, the clock’s ticking louder, louder, warns the Economist, “only a matter of time before the next recession strikes.” Unfortunately, the “rich world is not ready.” America’s not prepared. You are not ready.

Less than two weeks after Bank of China became the first Chinese bank to join the list of participants in the London gold auction, The Shanghai Gold Exchange confirms that a yuan-denominated gold fix will be in place by the end of 2015.

A correction is generally defined as any stock that is at least 10% off a recent high. If we look at a price performance over the past 200-days, 42% of all the stocks in the MSCI World Index are in a correction. Higher than you might have thought, right?

"Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally.  The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including  the transfer by euro area Member States of SMP and ANFA equivalent profits."

Update: As expected, the Greek parliament has voted in favor of the referendum announced Saturday by PM Alexis Tsipras. 

In the modern economy, we share everything: STDs, food stamps, transportation, and housing. It's all facilitated by mobile technology. First there was Rent A Gent. Now, the next part of the sharing economy is upon us: Rent A Tent.

If there was any confusion if, as we warned was the biggest problem with the Greek referendum namely that next weekend there will no longer be a proposal to vote on, the IMF's Christine Lagarde just put it to rest. As she told the BBC moments ago, the Greek government's planned referendum on the terms of any new bailout plan will be invalid after Tuesday, when the current programme expires. As a result, the Greek people would be voting on proposals that were no longer in place.

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Upcoming risk - Instruments moving to 'Close Only' mode

Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.