Lithuania

Finland Echoes Germany, Wants Greece Out; Five Other Nations Back Grexit

Initially it was just an unconfirmed rumor circulating in the German FAS media that the local FinMin had proposed a "temporary Grexit" option. It now appears that this was not only not a rumor, but Schauble's sentiment is contagious: moments ago Finnish broadcaster MTV reported that first Finland, and then the Eurozone's smaller, if somewhat more solvent nations, Estonia, Lithuania, Slovakia, Slovenia and even the Netherlands, support the German position on temporarily suspending Greece' Euro membership.

The Care And Feeding Of A Financial Black Hole

"...anyone who knows mathematics can see that the United States is on the verge of collapse because its debt has gone exponential, but no European (never mind American) politician can state the obvious, no matter how obvious it is. American officials and politicians are definitely puppets, controlled by corporate lobbyists and shady oligarchs. But here's a shocker: these are also puppets - controlled by the simple imperatives of profitability and wealth preservation, respectively. In fact, it's puppets all the way down. And what's at the bottom is a giant, ever-expanding, financial black hole."

The Pentagon Goes Nuclear On Russia

MAD – Mutually Assured Destruction – is way over. It kept a somewhat uneasy peace during seven decades of Cold War. Cold War 2.0 is as hardcore as it gets. And with all those Breedhate Strangeloves on the loose, nuclear madness is now at five seconds to midnight.

Russia Fed Up With US "Lecturing" As Pentagon Deploys 250 Tanks To Eastern Europe

"If they want to lecture us on democracy building, let them lecture students at some American university," Russia’s Commissioner for Human Rights, Democracy and the Rule of Law Konstantin Dolgov said Tuesday, regarding the collapse of a bilateral arrangement struck in 2009 between Moscow and Washington. Fortunately for Dolgov, it doesn't appear as though he, or any other Russian diplomats for that matter, will be forced to endure a "lecture" on democracy from the US anytime soon because as the positioning of 250 Bradleys and self-propelled howitzers, and associated armored brigade combat team equipment" in Eastern Europe makes clear, the time for dialogue of any kind has long since passed.

Europe Shocked When Russia Does To It What Europe Did To Russia

The EU issued a press release this morning which could perhaps be summed up in 2 words - "not fair." Following the denial-of-entry by Russia of several EU politicians, Russia has released a list of 89 names who will face travel bans - of exactly the same type as EU and US enforced upon numerous Russian elites. Europe is displeased that Russia would dare do unto them as they have done unto others... "we deem this measure as totally arbitrary and unjustified," they exclaimed, adding, "we don’t have any further information on the legal basis or the criteria or the process of these decisions."

IRS Admits Refunding Billions On Fake Tax Returns

Just hours after being force to admit that they were hacked (by Russians apparently), an inspector general's report shows that The IRS has rather remarkably continued to pay refunds on hundreds of thousands of fraudulent tax returns in recent years, and sent dozens of checks to the same addresses, including in Eastern Europe and elsewhere. While some progress has been made, $2.3 billion of real US taxpayer's money was wrongfully refunded to fake US taxpayers... but with this new cyber-attack, we suspect that number will soar.

McCain Joins Ukraine Advisory Committee Headed By Georgia's Fugitive Ex-President

John McCain may find himself 'back in the (former) USSR' more frequently as the Senator landed on Ukrainian President Poroshenko's list of advisers along with former Georgian President (and current fugitive) Miheil Saakashvili. This should give McCain an opportunity to realize his dream of turning the 'conflict' with Russia into a proper war that self-respecting hawks can be proud of.

America's Achilles' Heel

Instead of collapsing quietly, the US has decided to pick a fight with Russia. It appears to have already lost the fight, but a question remains: How many more countries will the US manage to destroy before the reality of its inevitable defeat and disintegration finally catches up with it? As Putin said last summer when speaking at the Seliger youth forum, “I get the feeling that no matter what the Americans touch, they end up with Libya or Iraq.” But there is another question that deserves to be asked: Do the Americans “touch” themselves? Because if they do, then the next candidate for extreme makeover into a bombed-out wasteland might be the United States itself...

EU Formally (And Spitefully) Files Anti-Trust Charges Against Gazprom

With talks between Greece and its creditors expected to go mostly nowhere in Riga later this week, and with speculation about an energy deal between Athens and Moscow (i.e. the precursor to the dreaded "Russian pivot") looking less like speculation and more like reality with each passing day, Europe is going the spite route by filing anti-trust charges against Gazprom.

Frontrunning: April 21

  • The Fed Still Wants Easy Money (BBG) - you don't say
  • ECB Is Studying Curbs on Greek Bank Support (BBG)
  • Banks Paid to Borrow as Three-Month Euribor Drops Below Zero (BBG)
  • Baoding Tianwei is first state-owned Chinese enterprise to default (Reuters)
  • Major Chinese Developer Says It Can’t Pay Dollar Debts (BBG)
  • Wall Street Has No Idea How Much Money Venezuela Has (BBG)
  • Goldman Sachs, Morgan Stanley Find Different Paths to Profits (WSJ)
  • Does the Collapse of a Chinese Developer Signal the Start of More Defaults? (BBG)
  • Retail Traders Wield Social Media for Investing Fame (WSJ)