• StalingradandPoorski
    03/04/2015 - 16:46
    What people and central bankers do not understand, is that you can't devalue your way to prosperity. Absolutely nothing has changed since the last crisis. The same too big too fail banks have only...

Sovereign Debt

Sprott Money's picture

The Silence of the Lambs





One interpretation is that we are living in the best of all possible worlds. Another is that we are being led to financial slaughter.

 
Tyler Durden's picture

Financial Collapse Leads To War





Financial collapse is already baked in, and it's only a matter of time before it happens, and precipitates commercial collapse when global supply chains stop functioning. Political collapse will be resisted, and the way it will be resisted is by starting as many wars as possible, to produce a vast backdrop of failure to serve as a rationale for all sorts of “emergency measures,” all of which will have just one aim: to suppress rebellion and to keep the oligarchy in power.

 
Tyler Durden's picture

More Flash Crashes To Come As Shadow Banking Liquidity Collapses





"On October 15, the deepest and most liquid market in the world demonstrated a six standard deviation move in less than two hours, a move that happens once in 506,797,346 days and a recent report by BlackRock highlights how “the secondary trading environment for corporate bonds today is broken. These examples signal that the probability of an accident is high and the stage is set for an adverse event meeting with an outsized impact on markets and possibly economies."

 
Tyler Durden's picture

Taking The Monetary Policy Ride Into The Theater Of The Absurd





Somehow, monetary policy is still believed neutral in the long run and that bubbles are market events. Central banks have shown why they cannot command economic performance, but that doesn’t mean they can’t give one hell of a comedic performance. We have taken a monetary ride now into the theater of the absurd.

 
Tyler Durden's picture

10 Reasons Washington Has War Fever





Never has our nation, corporations and wealthy top 1% faced so many new threats to their efforts to grow their power and wealth around the world.  But a real war would provide the crisis excuse to confiscate your gold and "excess" retirement plan and IRA assets, reduce or curtail your social security benefits, dramatically raise taxes and institute total exchange controls while curtailing your remaining freedoms and ability to resist for the duration of the crisis.

 
Sprott Money's picture

Gold: The Good, Bad, and Truly Ugly





Although it may be unrealistically optimistic, I believe my paraphrase of a Churchill quote:

 

“Central Bankers will eventually do the right thing and return to a gold standard after they have exhausted all other alternatives.”

 
Tyler Durden's picture

This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300%





This is the biggest problem facing the world today, namely that at least 9 countries have debt/GDP above 300%, and that a whopping 39% countries have debt-to-GDP of over 100%!

 
Tyler Durden's picture

Moody's "Junks" Russia, Expects Deep Recession In 2015





Having put Russia on review in mid-January, Moody's has decided (somewhat unsurprisingly) to downgrade Russia's sovereign debt rating to Ba1 (from Baa3) with continuing negative outlook. The reasons:

*MOODY'S SAYS RUSSIA EXPECTED TO HAVE DEEP RECESSION IN '15, CONTINUED CONTRACTION IN '16
*MOODY'S SEE RUSSIA DEBT METRICS LIKELY DETERIORATING COMING YRS

We assume the low external debt, considerable reserves, lack of exposure to US Treasuries, and major gold backing were not considered useful? Moody's concludes the full statement (below) by noting that they are unlikely to raise Russian sovereign debt rating in the near-term.

 
Tyler Durden's picture

Citigroup: "We Almost Hope Those Forecasts Are Proven Wrong"





"... we almost hope those forecasts are proven wrong. They imply a widening gap between valuations and traditional fundamental relationships. They imply a dearth of yields and spreads that will almost invariably push more and more investors into positions they would ultimately rather not take. But if the old adage that markets move in the direction that causes the most pain to the largest number of people is anything to go by, then we suspect that this is what will happen. Depressingly, our instinct is that those new forecasts are more likely too conservative than too aggressive. Longer-term, sweet dreams really aren't made of this."

 
Tyler Durden's picture

Today's Financial Thermopylae Beckons - But Don't Count On The Greeks





The global financial system desperately needs a big, bloody sovereign default - a profoundly disruptive financial event capable of shattering the current rotten regime of bank bailouts and central bank financial repression. Needless to say, Greece is just the ticket: A default on its crushing debt and exit from the Euro would stick a fork in it like no other. But don’t count on the Greeks.

 
Tyler Durden's picture

Spain And Italy Bonds Are Pricing In "Anti-Contagion"





It turns out that the next best thing to Greek contagion in this bizarro, centrally-planned world is... anti-contagion.

 
Tyler Durden's picture

ECB Releases Minutes From Its Historic January 22 "QE Launch" Policy Meeting





Today, for the first time, the ECB released minutes from its historic January 21-22 meeting during which the ECB unleashed QE. While hardly containing anything earthshattering, here are the main highlights.

 
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