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Tyler Durden's picture

Greek Austerity And Economic Religion





There are many things going on in the Greece vs Institutions+Germany negotiations, and many more on the fringe of the talks, with opinions being vented left and right, not least of all in the media, often driven more by a particular agenda than by facts or know-how. What most fail to acknowledge is to what extent the position of the creditor institutions is powered by economic religion...

 
Tyler Durden's picture

Guest Post: America Has No Enemy More Lethal Than The Neocon





Those men who wrote our Constitution made it perfectly intelligible to anyone who cared to read it. They also left some flexibility in its articles to ensure that as time passed and circumstances changed the document would remain viable as the indispensable protector of the republic they created and of the liberty of citizens. In recent decades, however, Americans have been treated to an endless stream of politicians, academics, lawyers, and pundits who describe the opaqueness of the Founder’s Constitution and the need for “experts” to decipher or infer what the document means. But their words are lies, there are no such things as universal values. There is only one value common to all men in all times and that is the universal lust for gaining and exercising arbitrary power, and that power is exactly what the Jacobin/Neocon crowd is after.

 
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Putin Slams US Over FIFA Arrests: "Another Blatant Attempt By The US To Meddle Outside Its Jurisdiction"





Following yesterday's surprise DOJ indictment in which 14 FIFA affiliates were perp-walked out of Zurich's swankiest hotel just days ahead of Sepp Blatter's re-election, one person was quite displeased with this latest US intervention on the international arena: Russian president Vladimir Putin who accused the United States of meddling outside its jurisdiction by arresting officials from FIFA, further hinting that it was part of an attempt to take the 2018 World Cup away from his country.

 
Tyler Durden's picture

Billionaire Hedge Fund Manager Paul Singer Reveals The "Bigger Short"





"Today, six and a half years after the collapse of Lehman, there is a Bigger Short cooking. That Bigger Short is long-term claims on paper money, i.e., bonds."

 
Tyler Durden's picture

Low Wages & Unemployment Are An Existential Crisis For Millions





If millions of young Americans don't start earning more money, they can't afford to have children, or take care of them properly, and that is the end of us as a nation.

 
Tyler Durden's picture

The Coming Capital Controls Are Designed To Protect The Banks From You





If governments have proven anything to us over the last seven years, it is that they will do anything to keep the banks from going down.  If just 10% of people hit their breaking points and withdrew their money in cash - there wouldn’t be enough cash in the system to support this demand. And the banks would subsequently collapse. When a government is bankrupt, the central bank is nearly insolvent, the banking system is illiquid, and an entire population suffers from interest rates that are either negative or below the rate of inflation, capital controls are a foregone conclusion. In fact, we expect the next round of capital controls will be designed to protect the banks... from you.

 
Tyler Durden's picture

How The Saudis Wag The Washington Dog





In real democracies, governments would do what the citizens who put them in office want them to do. The United States and other Western democracies make a mockery of that ideal. But, even so, there are limits; governments cannot defy public opinion on matters of great moment indefinitely. Enabling the Saudi ruling class, and the rulers of the other Gulf states, to direct American foreign policy to the extent that they do, and to get away with whatever they please, is hardly the least of it; but neither is it the only cause for concern.

 
Tyler Durden's picture

Mario Draghi's Slippery Downward Slope





There has to be a very clear line between central banks and governments. The latter should never be able to influence the former, because it would risk making economic policy serve only short term interests (until the next election). Likewise the former should stay out of the latter’s decisions, because that would tend to make political processes skewed disproportionally towards finance and the economy, at the potential cost of other interests in a society. This may sound idealistic and out of sync with the present day reality, but if it does, that does not bode well. It’s dangerous to play fast and loose with the founding principles of individual countries, and perhaps even more with those of unions of sovereign nations.

 
Tyler Durden's picture

Willem "Gold-Is-A-6000-Year-Bubble" Buiter Says A New Greek Currency "Would Be Rubbish"





Having shown his true colors in recent months by embarking not just on an anti-gold crusade, but more recently on an anti-cash mission, Citi's Willem Buiter has once again exposed his newly minted CFR status-quo-embracing status this morning. During an appearance on CNBC, Buiter notes that there would be "havoc" if Greece left the euro zone and adopted an alternative currency; but then he went on the pre-prescription blasting that any kind of alternative currency tied to the euro "would be rubbish." These comments come just hours after German FinMin Schaeuble raised the possibility that Greece may need a parallel currency alongside the euro if the country’s talks with creditors fail.

 
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Greece May Need To Issue IOUs Schaeuble Says After Latest Failure To Reach A Deal





"German Finance Minister Wolfgang Schaeuble conceded the possibility that Greece may need a parallel currency alongside the euro if the country’s talks with creditors fail," Bloomberg reports. Meanwhile, "sideline" negotiations between Greek PM Tsipras and Angela Merkel breakdown in Riga.

 
Tyler Durden's picture

JPM Warns UK Referendum More Likely In 2016 Than 2017 - The Pros & Cons Of Brexit





JPMorgan expects U.K. won’t delay the promised in out referendum on EU membership until 2017 but will put the issue to vote in late 2016 instead. Given the ruling Conservatives have only a small majority, any legislation could fail if euro skeptics within the party vote against it, suggesting the party leadership will want to get the issue resolved sooner rather than later. The prospect of a vote could weigh on the economy, again arguing for an earlier vote, so here are the pros and cons of Brexit simplified...

 
Tyler Durden's picture

Welcome To The Bubble State, Where Everything Is Unsustainable





Since its inception, California has always portrayed itself as the land of opportunity. Kind of like a dream within the American dream. Of course, if you ask anyone who actually lives here, they’ll tell you the truth. The only people getting rich from the dream are the ones who made it up. They prey on the gullible masses who think they can move here and become movies stars, and tech CEO’s. But more importantly, this dream is the lifeblood of our vampiric state, and always has been. Like the myths surrounding the Great Wall of China, our foundations are layered with those who fell while chasing the dream. We owe our very existence to this ever evolving scam.

 
GoldCore's picture

Gold Ticks Higher In GBP – Property Crash Looms In London?





London high end property prices fall 6.3% in May, prices now 7.4% lower that this time last year. Average house prices in London dwarf those of the rest of the country. London prices average £581,074 - more than 15 times the median salary - whereas the national average is £285,891.

 
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