• GoldCore
    05/06/2015 - 08:00
    China, the world’s largest gold producer and buyer, feels its market weight should entitle it to be a price setter for gold bullion. It is asserting itself at a time when the established benchmark,...

Swiss Franc

GoldCore's picture

Gold Sovereigns Bought by Greeks in Volume - Bank Runs and New Greek Drachmas Designed





- Greece warns may default on IMF loan next week - Greek bank runs continue and deposits flee  - The truth can be a scary thing sometimes … especially for those who put their head in the sand and ignore it ...

 
Tyler Durden's picture

Frontrunning: February 25





  • Invade Syria already, we know you will: Islamic State in Syria abducts at least 150 Christians (Reuters)
  • Greece Struggles to Get Citizens to Pay Their Taxes (WSJ)
  • Doubts Shadow Deal to Extend Greek Bailout (WSJ)
  • In surprise result, Chicago's Mayor Emanuel faces election run-off (Reuters)
  • Obama vetoes Keystone pipeline bill (Reuters)
  • Another sign of the top: Cushman & Wakefield Going Up for Sale (WSJ)
  • Lure of Wall Street Cash Said to Skew Credit Ratings (BBG) ... and threat of DOJ lawsuits also
  • Oil rises to $59 as Saudis say demand growing (Reuters)
 
Tyler Durden's picture

"This Shorting Opportunity Is As Great As 2007-2009", Billionaire Crispin Odey Warns





"For me the shorting opportunity looks as great as it was in 07/09, if only because people are still looking at what is hap-pening and believe that each event is an individual, isolated event. Whether it’s the oil price fall or the Swiss franc move, they’re seen as exceptions. ... we used all our monetary firepower to avoid the first downturn in 2007-09, so we are really at a dangerous point to try to counter the effects of a slowing China, falling commodities and EM incomes, and the ultimate First World effects.  This down cycle is likely to be remembered in a hundred years . Sadly this down cycle will cause a great deal of damage, precisely because it will happen despite the efforts of the central banks to thwart it."

 
Reggie Middleton's picture

The Grexit Into Gold-backed Drachma Conspiracy Theory - or - Plan Z





Here's a plan where the drachma will be more desirable than the euro after Greece defaults on anything euro denominated and backs its redeemable drachma with fractional gold. Upon default euros drop, drachma pops!

 
Reggie Middleton's picture

When Everybody Thinks They're Right, They're Almost Guaranteed to be Wrong! I Think This Is The Biggest Bubble In World History





But guess what? It's really, really, really different this time! In this one short post, there's more than enough indisputable evidence of a bubble than anyone can justifiably ignore.

 
Tyler Durden's picture

Swiss Franc Is Tumbling, Retraces 60% Of SNB Move





Is the SNB buying Euros to keep the mirage alive that Grexit is "managable"? EURCHF is up dramatically in the last 2 days, retracing 60% of the Swiss Franc's valuation surge against the USD...

 
Tyler Durden's picture

Frontrunning: February 18





  • Greece to submit loan request to euro zone, Germany resists (Reuters)
  • Ukrainian forces start to quit besieged town (Reuters)
  • Bank of Japan maintains policy, no surprises (FT)
  • China Considering Mergers Among Its Big State Oil Companies (WSJ)
  • Soros Shifts to Europe, Asia as Investors Cut U.S. Equities (BBG)
  • Putin tells Kiev to let troops surrender as Ukraine ceasefire unravels (Reuters)
  • Venezuela Squanders Its Oil Wealth (BBG)
  • Swiss prosecutor raids HSBC office, opens criminal inquiry (Reuters)
 
Tyler Durden's picture

Gold In A Negative Interest Rate World





Gold and government bonds now cost about the same to own, but governments actively trying to lower the value of their bonds and bank accounts while gold is rising wherever trouble erupts. The logical conclusion is that if gold and cash both cost the same to own, then maybe gold — which has held its value over millennia while every previous fiat currency has evaporated — is the better bet.

 
Tyler Durden's picture

Goldman Asks If Negative Rates Are Coming To The US





Now that Europe has demonstrated that one can go NIRP and not crash the system, will the Fed - once its silly obsession with hiking rates in the summer only to launch even more easing and/or QE as the ECB did in 2008 and 2011 - follow suit and join a rising tide of "developed" world central banks in punishing savers for hoarding cash? In a note released last night titled "Revisiting Negative Interest Rates in the US", Goldman shares its thought on the matter. It goes without saying that Goldman is important, because whatever Goldman's econ team shares with Goldman's Bill Dudley over at the NY Fed, usually tends to become official policy with a 3-6 month lag.

 
Capitalist Exploits's picture

This is the Land of Milk and Honey





This country has gone from being one of the most regulated countries in the OECD to one of the least regulated and as a result the economy has boomed. Many of the wealthiest people in the world have been quietly establishing escape hatches here.

 
Tyler Durden's picture

Austria's 3rd Largest Bank Goes Full Bear Stearns: CEO Blames "Short Sellers" For Firm's Demise





You know it's bad when... you start blaming speculators. Very reminiscent of the "it's not us, we have a solid balance sheet, it's the short selling speculators" bullshit in the days before and after the stock crashes of American Insurance Group, Bear Stearns, Lehman Brothers and Merrill Lynch; mere days after his bank's bonds crashed, the CEO of Raiffeissen Bank (Austria's 3rd largest) has stated (unequivocally) that "panic was created artificially," blaming short-sellers for his bank's demise.

 
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