• Phoenix Capital...
    07/03/2015 - 20:26
    Greece just took a hit… and once again it’s depositors that will take it on the chin. But this process is only just begun. Similar Crises will be spreading throughout the globe in ...

Switzerland

Tyler Durden's picture

JPMorgan Banker: "We Can't Make Money Anymore..."





"...between ridiculously low interest rates and the increasing costs of compliance, we can’t make money anymore..."

The US government has really screwed the world on this. Paperwork is the priority. Not business. The transition isn’t going to be smooth. And it won’t happen overnight. But there will come a time, and likely soon, when the United States gets displaced.

 
Tyler Durden's picture

Who Will Be The Last To Crash?





This is the question that astute investors are forced to ask themselves these days. No reasonable person believes that a system of ever-expanding debt can resolve painlessly. It simply cannot happen... not, at least, until 2+2 stops equaling four. But the international money system, while deeply interconnected, can implode in sections. In fact, it’s highly unlikely that it will crash as a single unit. So, if you have significant moneys to invest, you end up coming back to our question: Who will be the last to crash?

 
GoldCore's picture

Greece Shows Importance of Gold as Europeans Buy Coins and Bars





With the ECB reneging on its responsibility as lender of last resort – not the first time it has used its power to political ends in Greece – Greek banks may soon be forced to “bail-in” deposits – i.e. confiscate the cash of their customers.

 
Tyler Durden's picture

Greek D(efault)-Day Arrives, As Does China's Plunge Protection Team





The Greek D-(efault) day has arrived, and with it so has quarter-end window dressing for many underwater hedge funds (recall the S&P is now red for the 2015) which means the rumor mill today will be off the charts. And sure enough, less than an hour ago, futures exploded higher as did the EURUSD, following another "report/rumor" of a last minute detente between Greece and the Troika when Greek Ekahtimerini said that  "Tsipras is reconsidering the last-ditch offer made by European Commission President Jean-Claude Juncker, sources have told Kathimerini."

 
Tyler Durden's picture

Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion





European investors are increasing purchases of gold as Bloomberg reports, Greece’s turmoil boosts the appeal for an alternative to the euro. Demand from Greek customers for Sovereign gold coins was double the five-month average in June, the U.K. Royal Mint said in an e-mailed statement.As one Frankfurt-based bullion dealer noted, "most of our common gold coins are sold out, when people learned that the Greek banks will be closed, they started to think that it may not be such a bad idea to have some money in gold."

 
Tyler Durden's picture

Central Banks Scramble To Stabilize Crashing Markets: China Fails, Switzerland Succeeds (For Now)





At the open, Europe looked in the abyss, and with no help coming from China, it did not like what it saw: And then the answer came from the Swiss National Bank, which stepped in to prevent the collapse just as Europe was opening. Because seemingly out of nowhere, a tremendous bid came in to life the EURCHF, buying Euros (against the CHF and the USD) and selling Europe's last left safety currency. We now know that it was the SNB, the same central bank which is the proud owner of well over $1 billion in Apple stock.

 
GoldCore's picture

Grexit?, BIS Warning, Chinese Market Crash & Systemic Risk Shake the Global Economy





All banks and the Greek stock exchange are closed today. Greek citizens cued in long lines at ATMs or cash machines over the weekend and a run on the banks left most ATMs empty. There is a €60 limit on withdrawals from cash machines under strict capital controls. 

 
GoldCore's picture

Chinese Stock Market Collapses 7.4% - Gold Demand Surges To Record





Shanghai Gold Exchange volume climbed to a record today as prices declined incentivizing value driven Chinese buyers as Chinese stocks crashed 7.4%. Chinese stocks have had the biggest two-week loss in more than 18 years and are close to entering a bear market after extending losses from their June 12 peak to 19 percent in less than three weeks.

 
GoldCore's picture

“Being Fed Garbage” and "Complacency Rules… for Now”





- We need a free market in currencies, not bail-ins and a war on cash and gold - People blindly trust “experts” so welcome that some of them giving prudent advice regarding diversification - Currencies of creditor nations – Norway, Switzerland, Singapore, Hong Kong will outperform in long term

 
GoldCore's picture

Doubts Over City of London's "Ageing Tech Systems” in Age of Cyber War





- Doubts over City of London’s “fintech” in age of cyber war - Thousands left in “financial limbo” after tech “error” - 600,000 RBS customer payments go "missing" in "system failure”

 
Pivotfarm's picture

Place To Go When War Starts





Nobody can deny that the chances of war are increasing in the world.

 
Tyler Durden's picture

How Will Russia Respond To Asset Seizure Over Yukos Settlement?





Senior Russian officials said Kremlin lawyers are studying France and Belgium’s seizure of Russian government assets in the two countries as part of a court settlement to compensate shareholders of Yukos, the privately owned oil company that was shut down by Moscow.

 
GoldCore's picture

Hold "Physical Cash,” “Including Gold and Silver” To Protect Against "Systemic Risk" - Fidelity





A fund manager for one of the largest mutual fund and investment groups in the world, Fidelity, has warned investors and savers to have an allocation to “physical cash,” “including  precious metals” to protect against "systemic risk".

 
Tyler Durden's picture

The Logic Of Interventionism (Or How To Wake Up In A Prison)





The mainstream media is still full of articles about the alleged evils of cash, which we regard as a typical “trial balloon” launched by the powers-that-be. A salami tactic is therefore employed, not least because this ensures that there will be little protest. A new law or regulation may not be seen as overly onerous in isolation. The average citizen may well think – if he or she is even aware of the adoption of a new law: “Oh well, it is a bit creepy” or “it does make life a bit more difficult”, but “if it helps to keep us safer/more prosperous/more free/saves the planet, I can put up with it”. And so one freedom after another is taken away. If pursued to its logical conclusion, no freedom will be left in the end.

 
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