France

Sprott Money's picture

France Moves in the Direction of Banning Cash





Long has the government waged war on the privacy and freedom of its citizens. Government has an insatiable appetite for more power and control. This is ultimately how it expands itself and exerts its dominance and ability to tax / steal the wealth of its people.

 
Tyler Durden's picture

The Iran "Talks" - Just Another US vs Russia (And China) Power Game





Update, and just as expected: IRAN NUCLEAR NEGOTIATORS MAY MISS 3RD DEADLINE: U.S. OFFICIAL

"The United States and Europe reportedly want the UN Security Council (UNSC) sanctions on Iran to be automatically reversible, meaning that if Iran violates the deal at any point, the UNSC sanctions will automatically be re-imposed on Tehran. Russia opposes such a scenario, saying in such a case the UNSC should decide what to do. Moscow says automatic imposition of sanctions goes against the mechanism of the Security Council. China also reportedly shares Russia’s viewpoint and is against the imposition of automatically reversible sanctions on Iran."

 
Tyler Durden's picture

Almost $3 Trillion Of European Debt Has Negative Rates As German Yields Collapse Further





As German yields hit fresh record lows (and continue to collapse/flatten dramatically) amid Draghi's monetary excess, the size of ineligible debt surges across Europe. As SocGen notes, before today, there was already a stunning EUR 2.17 trillion of negative yielding debt in Europe (dominated by Germany and France) and today's moves mean that number is growing rapidly as Germany is now negative to a 7.5 year maturity.

 
Tyler Durden's picture

Meet Andorra: Europe's Next Failed State





Nestling idyllically between France and Spain in the foothills of the Pyrenees, Andorra - which has enjoyed the benefits of European borders without the restrictions of EU membership - has seen its risk "increase beyond our expectations," according to S&P. As a reminder, when Cyprus was "templated" and depositors awoke with a 47% haircut, its total financial assets to GDP was around 8x, Andorra is now at a stunning 17x. As The Telegrpah explains, in the last three weeks, the state has been gripped by a banking crisis that threatens to take it to the brink; and Andorra, which is not a member of the eurozone but uses the single currency on an informal basis, would have no way of bailing them out (with no central bank or lender of last resort). In short, the country faces a catastrophe if its banks fall apart.

 
Tyler Durden's picture

Futures Jump On Chinese Easinng Speculation, False Rumor Of PBOC Rate Cut





With the rest of the developed world's central banks waiting for the Fed to admit defeat for one more year and delay its proposed rate hike (or launch NIRP/QE4 outright) it was all about China (the same China which a month ago we said would launch QE sooner or later) and hope that its central bank would boost asset prices, when over the weekend the PBoC governor hinted that more easing is imminent to offset the accelerating drag after he admitted that the nation’s growth rate has tumbled "a bit" too much and that policy makers have scope to respond. How much scope it really has now that its bad debt is rising exponentially is a different question. It got so bad, Shanghai Securities News leaked a false rumor earlier forcing many to believe China would announce an unexpected rate cut as soon as today, in the process sending the Shanghai Composite soaring by 2.6%.

 
Tyler Durden's picture

"The Risks Are Very High" Swiss Billionaire Warns "Global Financial Markets Have Never Been This Distorted Before"





"Global financial markets are more distorted than ever before and accordingly, the risks are very high... All equity and currency markets are pretty extended, at present; and many of the bond markets are as well... We know that the longer a distortion prevails, the more investors get used to it and it becomes the “new normal” to them. That’s where the problem lies! I see three potential threats..." - Felix Zulauf

 
Tyler Durden's picture

De-Dollarization Continues As Russia Seeks AIIB Membership





As Moscow and Seoul throw their support behind China's Asian Infrastructure Investment Bank, the question is no longer about the end of dollar hegemony but rather about the extent to which the new venture will be used to institute a global shift towards the yuan. 

 
GoldCore's picture

Risk of ‘World War’ between NATO and Russia on Ukraine Escalation as Yemen Bombed for Third Day





World sleep walking from ‘Cold War’ to ‘Hot War’ and new World War ... It will lead to financial decimation in the coming years when the monstruous financial bubble of today eventually collapses ... and it will as sure as night follows day

 
Tyler Durden's picture

Obama Administration Bullies Allies Over Iran Nuke Deal Dissent





President Obama is "blowing up our alliances to secure a deal that paves Iran’s way to a bomb," according to European sources close to the negotiations, and as Washington Free Beacon reports, efforts by the Obama administration to stem criticism of its diplomacy with Iran have included threats to nations involved in the talks, including U.S. allies. France has borne the brunt of Obama's wrath as one source in Europe close to the ongoing diplomacy said the US has begun to adopt a “harsh” stance toward its allies in Paris because "the clarifications expose just how weak the Americans’ deal is shaping up to be."

 
Tyler Durden's picture

Syria "Welcomes" Larger Russia Presence





Following Vladimir Putin's demands for an "immediate cessation of military activities" in Yemen, AFP reports Syrian President Bashar al-Assad's comment during a recent interview that "with complete confidence that we welcome any widening of the Russian presence in the eastern Mediterranean and on Syrian coasts and ports," including the port of Tartus. Amid the Western-backed opposition National Coalition's planned boycott of talks, Assad pointedly remarked, "the negotiating parties must be independent and must reflect what the Syrian people want... people would not accept that their future, their fate, or their rules are decided from outside."

 
Tyler Durden's picture

Hans-Werner Sinn Fears Europe's "Very Messy" Easy-Money Endgame





There is a risk that Japan, China, and the US will not sit on their hands while the euro loses value, with the world possibly even sliding into a currency war. Moreover, the southern EU countries, instead of leaving prices unchanged, could abandon austerity and issue an ever greater volume of new bonds to stimulate the economy. Competitiveness gains and rebalancing would fail to materialize, and, after an initial flash in the pan, the eurozone would return to permanent crisis. The euro, finally and fully discredited, would then meet a very messy end. One can only hope that this scenario does not come to pass, and that the southern countries stay the course of austerity. This is their last chance.

 
Tyler Durden's picture

Futures Wipe Out Early Gains In Volatile Session As Dollar Resumes Climb; Oil Slides





After a few days of dollar weakness due to concerns that the Fed's rate hike intentions have been derailed following some undisputedly ugly economic data (perhaps the Fed should just make it clear there will never be rate hikes during the winter ever again) the USD has resumed its rise, and as a result risk assets, after surging early in the overnight session driven by the Nikkei225 and the Emini, the "strong dollar is bad for risk" trade has re-emerged, with the Nikkei dropping almost 500 points off its intraday highs, with US equity futures poised to open lower once more, sliding nearly 20 points in the overnight session, and surprising the BTFDers who have not seen five consecutive days of "risk-off" in a long time.

 
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