France

Tyler Durden's picture

Peace? Ukraine "Preparing For Full-Scale War" With Russia, Demands The West Supply Lethal Weapons





"We don't want to scare everybody, but we are preparing for full-scale war," warns Vadym Prystaiko - Ukraine's deputy foreign minister - telling CBC during a stunning interview that "what we expect from the world is that the world will stiffen up in the spine a little." Prystaiko concludes, "we would like [The West] to send lethal weapons to Ukraine... weapons to allow us to defend ourselves."

 
Tyler Durden's picture

Why Does Fiat Money Seemingly Work?





Government mandated fiat currency simply does not work in the long run. We have empirical evidence galore – every fiat currency system in history has failed, except the current one, which has not failed yet. The modern fiat money system is more ingeniously designed than its historical predecessors and has a far greater amount of accumulated real wealth to draw sustenance from, so it seems likely that it will be relatively long-lived as far as fiat money systems go. In a truly free market, fiat money would never come into existence though. Greenspan was wrong – government bureaucrats cannot create something “as good as gold” by decree.

 
Tyler Durden's picture

Why European Bondholders Refuse To Sell To The ECB





Just weeks before Mario Draghi's "whatever it takes" trillion-euro Q€ bond-buying-fest is set to come true, The ECB faces a problem they likely never expected - unwilling sellers. On the heels of our analysis showing central banks will monetize over 100% of government bond issuance this year, Reuters reports that mere weeks before the ECB begins their program, banks, pension funds and insurers across the continent are hoarding them for regulatory or accounting reasons. "We prefer to hold on to them," said Antoine Lissowski, deputy CEO at French insurer CNP Assurances. "The ECB's policy ... is reaching its limits now."

 
Tyler Durden's picture

Eurogroup Meeting Delayed, Reportedly Due To Greeks "Sending Wrong Letter"





*EU MEETING ON GREECE PUSHED BACK AGAIN TO 11AM ET., GREECE SENT THE WRONG LETTER TO EU

Finance ministers from across Europe are arriving in Brussels for the latest, most critical (until the next one) stare-down across the table at The Greeks. As Germany's Schaeuble noted somewhat pessimistically "we shall see," on the outcome of today's meeting, adding that Greece "must take seriously" previous agreements and "Europe needs mutual trust." Varoufakis on his arrival explained that he "hopes for white smoke" by the end of the day adding that "Greece has gone the extra 10 miles... and hopes EU can meet them one-fith of the way."

 
GoldCore's picture

Gold in Euros 1.4% Higher - Massive Complacency Regarding Ukraine, Greece and Coming Debt Crisis





** Greek Bank Runs Accelerate as Possible ‘Grexit’ Looms
** Fatigue with Greek Crisis Breeding Massive Complacency
** Ukraine a Significant Setback for NATO
** India Demand To Rise To 35 - 40 Tonnes This Month
** Gold Oversold - Fundamental and Technical Position Good 

 
Tyler Durden's picture

Stocks Coiled To Soar On Any Positive Greek News





With the new and revised (until it is re-revised again to some future date), Greek D-Day set for today's third in the past 2 weeks Eurogroup meeting, every favorable headline serves as a springboard for ES-buying algos, while every negative headline is promptly ignored. And since this is Europe's style trial ballooning, there have been many of both with just these two hitting in the last hour:

  • GREECE, EURO ZONE NEAR DEAL ON PACKAGE, REUTERS CITES UNIDENTIFIED GREEK OFFICIAL
  • GREECE DID NOT GO FAR ENOUGH IN THEIR LATEST PROPOSAL: GREEK GVOERNMENT SPOKESMAN

Guess which one pushed ES into the green?

 
Tyler Durden's picture

"Someone Has A Problem"





When you owe someone $340, it is YOUR problem.
When you owe someone $340 BILLION, it is THEIR problem.

 
GoldCore's picture

Gold Bars In France Worth $500,000 Robbed From Pensioner By Fake Cops





While one of the robbers distracted the 69-year old with paper work the other stole his gold - 13 bars, each weighing 1 kilogram or 32.15 ounces each with a total value of US$500,000.

 
Phoenix Capital Research's picture

Central Bankers' Worst Nightmares Are Unfolding in Greece





The dark truth about the Greek debt negotiations that Central Banks have been trying to hide.

 
Tyler Durden's picture

Stocks Rebound On Hopes Of Resolution To Greek Impasse





After yesterday's FOMC Minutes, despite a huge dovish reversal by the Fed - one which increasingly puts its "credibility" and reputation at risk - stocks were unable to close green, or even above 2100, for one simple reason: uncertainty with the fate of Greece. Overnight there has not been much more clarity, when as previously reported Greece submitted a 6 month extension request to its master loan agreement but not to its bailout extension, a nuance lost in the annals of diplomacy. But is this the much-awaited Greek capitulation? Or will the Eurogroup reject this too? The answer may be available in a few hours after an emergency Eurogroup meeting due later today. However, as usual stocks are ready to "price in" yet another Greek conflict resolution, and after futures were lower by 7 points overnight, were up 4 points at last check: a rebound which will not correct if the latest Greek "compromise" fails to deliver.

 
hedgeless_horseman's picture

Questions to assist in creating a working inventory of mind, body, and equipment for living in dangerous or uncertain times





Do I know how to beg...effectively?

Do I know how to barter...effectively?

How good of a liar am I...really?

 
Phoenix Capital Research's picture

Europe Will Implement Both Border and Capital Controls in the Coming Months





EU leaders were proposing capital controls, border controls, and even limiting the amount of money that could be removed from ATMs throughout Europe back in 2012.  They'll do it again.

 
 
Tyler Durden's picture

The Catastrophic Costs Of Extend-And-Pretend Are About To Crush Europe





Extending imprudently massive loans to marginal borrowers always plants the seeds of disaster, and extending and pretending turns a potentially containable disaster into an uncontainable financial calamity. Yet this is the game plan of policymakers everywhere, from Europe to the U.S. to China--extend enormous loans to marginal borrowers and then mask the inevitable defaults with extend-and-pretend policies that vastly increase the size of the debt. By the time extend-and-pretend finally reaches its maximum limits, the resulting implosion is so large that the shock waves topple regimes, banks, currencies and entire nations.
 
Cognitive Dissonance's picture

Yanis Varoufakis: The Straw That Breaks the Ponzi’s Back?





The arrogant European Union has seriously overplayed its hand and now is no longer certain exactly who is the fool still seated at the table.

 
Tyler Durden's picture

Stockman To Obama: Butt Out Of The Greek Crisis - You've Dispensed Enough Keynesian Poison At Home





Our clueless President observed, "You cannot keep on squeezing countries that are in the midst of depression. At some point there has to be a growth strategy in order for them to pay off their debts..." No, paying off their debts is exactly the wrong medicine. You do not kick the can and extend and pretend that Greece can service its crushing debt. Instead, you permit it to default, and then to rebuild it’s economy and credit the old fashioned way. In any event, its a problem for the Europeans and the Greeks to resolve. Obama should stop sending Keynesian witch doctors to spread more policy poison around Europe.

 
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