Greece

Greece Raids Home Of Central Bank Head

While the US the media lashes out at Trump every time he dares to tell the truth that the central bank is a biased, engaged, political member of the decision-making landscape, other "developed" countries are happily willing to demonstrate just how apolitical the central bank truly is. Take Greece, for example, where today the chief prosecutor ordered a raid of the home of the governor of the Greek central bank.

"The Financial Crisis Has Morphed Into A Growth Crisis" - Rogoff Warns "Cash Is Not Forever, It's A Curse"

"Big bills are a curse... understand this: Cash is not forever... in fifty years there will be no cash... it’s one very important step towards enabling central banks to have much more effective tools in fighting a financial crisis and in particular to use negative interest rates in an effective way... people who are older need to think about having a larger share of stocks than the traditional wisdom..."

Track All Of Bankrupt Hanjin's "Ghost Ships" In Real Time

Readers who wish to track the fate of Hanjin's "ghost ships" in real time - as it looks likely that many of them will remain stuck in legal and financial limbo for a long time - can do so courtesy of the following Platt's interactive map.

George Soros Warns Europe: Accept Refugees Or Face Extinction

The refugee crisis and the Brexit calamity that it spawned have reinforced xenophobic, nationalist movements that will seek to win a series of upcoming votes. Rather than uniting to resist this threat, EU member states have become increasingly unwilling to cooperate with one another. They pursue self-serving, beggar-thy-neighbor migration policies – such as building border fences – that further fragment the Union, seriously damage member states, and subvert global human-rights standards.

Why One Hedge Fund Is Once Again Preparing For The End Of The Euro

"The time for treating the EUR-peg as a taboo may soon be past us, and an open discussion become the dominant narrative, in pursuit of a long-term durable solution to economic stagnation, in an attempt to save the European Union, so to orderly drive the process as opposed to end up being overwhelmed by the trending course of events."

Why The Eurozone Will Self-Destruct

Fireworks are going off in Germany again in yet another battle between Wolfgang Schaeuble, Germany’s finance minister, and the ECB.

One "Lifelong Socialist" Norwegian's Perspective On Trump

"Despite Norwegian mainstream media and political establishment support for Hillary Clinton (They also supported Mark Rubio and Bernie Sanders when they were running), I would like to apologize for our politicians and voice my support for Trump. I believe that Americans need to think about what is at stake from lifelong socialists’ perspective. Despite what people read about Norway being the best place to live, it comes with a price."

Negative Rates & The War On Cash, Part 2: "Closing The Escape Routes"

History teaches us that central authorities dislike escape routes, at least for the majority, and are therefore prone to closing them, so that control of a limited money supply can remain in the hands of the very few. The existence of escape routes for capital preservation undermines the viability of the banking system, which is already over-extended, over-leveraged and extremely fragile. In the 1930s, gold was the escape route, so gold was confiscated. This time cash serves that role...

Dear Angela, Your Refugee Crisis Is Back

To make changes in the EU, 28 nations all have to agree. Thus, it takes years to negotiate treaties, in the best case scenario. In regards to the refugee crisis, a number of countries have essentially to her highness, Angela Merkel “Go to hell”.

Another Greek Standoff: Europe Refuses Athens' Bailout Payment Until Reforms Are Implemented

Greece is once again facing a bailout standoff with its creditors as eurozone countries have refused to release additional funds to Athens this month. Athens has infuriated its Euro peers because it has so far passed just two of the 15 reforms that were a condition of last year’s rescue package, and yet demands full payment. For now, Europe has said enough.

The Ultimate 21st Century Choice: OBOR Or War

The G20 meets in tech hub Hangzhou, China, at an extremely tense geopolitical juncture. China has invested immense political/economic capital to prepare this summit. But most of all China will seek greater G20 backing for the New Silk Roads – or One Belt, One Road (OBOR), as they are officially known – as well as the new Asian Infrastructure Investment Bank (AIIB). However, the US hyperpower – not the Atlanticist West, because Europe is mired in fear and stagnation - “proposes” the current neocon/neoliberalcon status quo...

Negative Rates & The War On Cash, Part 1: "There Is Nowhere To Go But Down"

As momentum builds in the developing deflationary spiral, we are seeing increasingly desperate measures to keep the global credit ponzi scheme from its inevitable conclusion. Credit bubbles are dynamic - they must grow continually or implode - hence they require ever more money to be lent into existence. As the peak of a credit bubble is reached, all these necessary factors first become problematic and then cease to be available at all. Past a certain point, there are hard limits to financial expansions, and the global economy is set to hit one imminently.