• 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...

Switzerland

Tyler Durden's picture

Putin: It Is Time To Play Your Ace In The Hole





The entire world is watching Putin play poker with the Western politicians lead by Obama and followed by Washington quislings in London, Brussels and Berlin. America's goal since the end of the Cold War has been to weaken by financial, economic and, if necessary, military means any real competition to its global financial and resource domination through the petrodollar and dollar world reserve currency status. We hope Putin realizes the US is not playing games here, as this is a financial and strategic game to the death for Washington and it's Western allies that have foolishly followed the Goldman Sachs/central banking cartel's deadly sovereign debt recipe and for growth and prosperity. The time is up; the debts can never be repaid and sooner or later must be repudiated one way or the other.

 
Tyler Durden's picture

Armed Robber Flees After Failed Attempt To Rob Of Zurich Bank





Update: the robber has supposedly managed to flee the scene.

While it has yet to make the major wires, there are numerous reports of an attempted robbery taking place at a branch United Mizrahi Bank Schweiz on Nyushelershtrasse in Zurich.  According to RIA the scene has been cordoned off with a large police presence as seen in the photos below. As RIA further adds, the police is preparing to storm the bank building, where, allegedly armed robbers have barricaded themselves and may have taken hostages.

 
Tyler Durden's picture

Pepe Escobar On Blowback After Blowback For The "Empire Of Chaos"





At present, the choice between the two available models on the planet seems stark indeed: Eurasian integration or a spreading empire of chaos. China and Russia know what they want, and so, it seems, does Washington.  The question is: What will the other moving parts of Eurasia choose to do? All these interlocked developments suggest a geopolitical tectonic shift in Eurasia that the American media simply hasn’t begun to grasp. Which doesn’t mean that no one notices anything.  You can smell the incipient panic in the air in the Washington establishment. So long to the unipolar moment... 2015 is "going to be a real hardcore year."

 
Tyler Durden's picture

2014 Year In Review (Part 2): Will 2015 Be The Year It All Comes Tumbling Down?





Despite the authorities' best efforts to keep everything orderly, we know how this global Game of Geopolitical Tetris ends: "Players lose a typical game of Tetris when they can no longer keep up with the increasing speed, and the Tetriminos stack up to the top of the playing field. This is commonly referred to as topping out."

"I’m tired of being outraged!"

 
Tyler Durden's picture

Things That Make You Go Hmmm... Like A 'Run' On The Gold 'Bank'





Say what you want about the gold price languishing below $1200 (or not, as the case may be, after this week), and say what you want about the technical picture or the “6,000-year bubble,” as Citi’s Willem Buiter recently termed it; but know this: gold is an insurance policy — not a trading vehicle — and the time to assess gold is when people have a sudden need for insurance. When that day comes - and believe me, it’s coming - the price will be the very last thing that matters. It will be purely and simply a matter of securing possession - bubble or not - and at any price. That price will NOT be $1200. A “run” on the gold “bank”  would undoubtedly lead to one of those Warren Buffett moments when a bunch of people are left standing naked on the shore. It is also a phenomenon which will begin quietly before suddenly exploding into life. If you listen very carefully, you can hear something happening...

 
Tyler Durden's picture

Former BIS Chief Economist: "The System Is Dangerously Unanchored; It Is Every Man For Himself"





"There is no automatic adjustment of current account deficits and surpluses, they can get totally out of hand. There are effects from big countries to little ones, like Switzerland. The system is dangerously unanchored. It is every man for himself. And we do not know what the long-term consequences of this will be. And if countries get in serious trouble, think of the Russians at the moment, there is nobody at the center of the system who has the responsibility of providing liquidity to people who desperately need it. If we have a number of small countries or one big country which run into trouble, the resources of the International Monetary Fund to deal with this are very limited. The idea that all countries act in their own individual interest, that you just let the exchange rate float and the whole system will be fine: This all is a dangerous illusion."

 
Tyler Durden's picture

Central Banks Are Now Uncorking The Delirium Phase





Virtually every day there is an eruption of lunacy from one central bank or another somewhere in the world. In short, the central banks of the world are embroiled in a group-think mania so extreme and irrational that it puts one in mind of the spasm of witchcraft trials that erupted in the Massachusetts Bay Colony nearly four centuries ago.  As a practical matter, this mania amounts to a race to the currency bottom and the final extinguishment of the price discovery mechanism in every financial market on the planet. Flying blind, the financial markets are thus bubbling - in the delirium phase - like never before. That is, until they don’t.

 
Tyler Durden's picture

Frontrunning: December 19





  • Icahn, Paulson Suffer Large Losses as Energy-Related Bets Sour (WSJ)
  • Oil Investors Keep Betting Wrong on When Market Will Bottom (BBG)
  • U.S. to sell final $1.25 billion shares of Ally Financial from bailout (Reuters)
  • Ally Financial Gets Subpoena Related to Subprime Automotive Finance (WSJ)
  • Russia's parliament rushes through bill boosting banking capital (Reuters)
  • How a Memo Cost Big Banks $37 Billion (WSJ)
  • ECB considers making weaker euro zone states bear more quantitative easing risk (Reuters)
  • How the U.S. Could Retaliate Against North Korea (BBG)
 
Bruce Krasting's picture

Fog of War





 

The one thing that Jordan can't do in this war is appear to be weak.

 
Capitalist Exploits's picture

The Implications of "Red Monday"





The oil price drop is a big problem - not just for Russia, or for the other over-levered emerging market currencies that stand to be traumatized by a rising dollar, but ultimately even for the US itself

 
Tyler Durden's picture

Swiss Central Bank Plunges Into NIRP, Sends Deposit Rates Negative, Scrambles Against Safe-Haven Capital Flight





Everyone thought that any major monetary policy surprises and/or capital controls today would come from Putin during his annual press conference. Boy were they wrong: just after 2 am Eastern, none other than the Swiss National Bank joined the ranks of the ECB in scrambling to stem the wave of capital flight, not to mention the cost of money, when it announced it too would start charging customers for the privilege of holding cash in its banks, when it revealed a negative, -0.25% interest rate on sight deposits: a step which according to the SNB was critical in maintaining the 1.20 EURCHF floor.

 
Tyler Durden's picture

Frontrunning: December 15





  • Sydney Siege Sparks Muslim Call for Calm Amid Backlash Fear (BBG)
  • Oil Spilling Over Into Central Bank Policy as Fed Enters Fray (BBG)
  • Biggest LBO of 2014: BC Partners to acquire PetSmart for $8.7 billion (Reuters)
  • Tremble algos: the SEC has hired... "QUANTS" (WSJ)
  • When the bubble just isn't bubbly enough: There’s $1.7 Trillion Locked Out of China’s Stock Rally (BBG)
  • Oil price slide roils emerging markets, yen rises (Reuters) - may want to hit F5 on that
  • Libya Imposes Force Majeure on 2 Oil Ports After Clashes (BBG) ... and will resume production in days
  • Amid Crisis, Pimco Steadies Itself (WSJ)
 
Tyler Durden's picture

Martin Armstrong Warns Civil Unrest Is Rising Everywhere (And Government Is Digging In Its Heels)





"Governments always turn against the people... they too realize that the people are starting to wake up against the abuse of government everywhere. Politicians will be politicians. What is left to say?"

 

 
Tyler Durden's picture

Austria Considers Repatriating Its Gold





And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the "6000 year old barbarous relic bubble" is more than just "tradition."

 
Tyler Durden's picture

7 Questions Gold Bears Haven't Answered





If we're in a gold bear market, then answer these questions...

 
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