Creditors

Venezuela Deploys National Guard As Venezuelans Protest Worthless Cash

Protests and looting broke out in parts of Venezuela on Friday as desperate and cashless Venezuelans, angry that the government hasn’t exchanged their voided bank notes, rose up. The riots were quickly put down, however, when National Guard troops were deployed to put down the unrest.

Greek Bond Yields Surge After Debt Relief Talks Collapse

Greek bond yields are surging in the latest twist of the nearly seven year old Greek crisis, when on Wednesday Eurozone fin mins and the ESM, suspended their promise to grant short-term debt relief measures to the Greek government, as a result of pledges made by the Greek PM Tsipras to ease austerity on the country’s pensioners earlier in the week.

Hugh Hendry: "We Are Running A Trumpian Portfolio"

  • In Europe we anticipate further duress in the political commitment to the European project as the success of Trump’s economic stimulus plan keeps US growth humming
  • The combination of Trumpian economics and Japanese 10-year nominal yields being trapped at zero by the Bank of Japan should mean the yen continues to weaken.
  • And finally, there are Chinese trades which generate positive carry should the status quo persist yet remain long volatility should pressure on the renminbi intensify

Why Europe Must End In Tears

The EU and the euro project have been an economic disaster for all participants, including Germany, which will eventually be forced to write off the hard-earned savings she has lent to other Eurozone members. We know, with absolute certainty, that the euro will self-destruct and the Eurozone will disintegrate. We know this for one reason above all...

The Biggest Gold Heist Of All Time

...When the pirates arrived, they robbed the island of 100 talents of gold (worth just shy of $100 million today), an unfathomable sum at the time...It’s amazing that thousands of years have passed, and yet that very same gold could still be traded in modern financial markets.

Can An OPEC Deal Save Venezuelan Oil From Total Collapse?

With the nation's currency in full-fledged hyperinflationary collapse, OilPrice.com's Nick Cunningham notes that at times it seems that Venezuela’s economic crisis cannot get any worse. Food shortages, electricity blackouts, and scarce medical supplies have created a humanitarian disaster in Venezuela. However, with each passing month the situation deteriorates, and the crisis appears to be entering a dangerous new phase.