• GoldCore
    09/04/2015 - 07:43
    Large pools of gold in indebted nations will be vulnerable. Pool accounts, digital gold bullion vaulting providers and depositories in the UK and the US might have their companies and assets...
  • Sprott Money
    09/04/2015 - 05:58
    It can't continue indefinitely, and there has to be a terminal point, and I think obviously we're much closer to that.

goldman sachs

goldman sachs
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The Biggest Winner From The Greek Tragedy





For every loser there is a winner, and in the case of Greece and its tragedy, just as millions are about to lose everything, a few not only made billions but quietly, under the guise of "sovereign bailouts" transferred their entire risk onto the taxpaying public.

 
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Frontrunning: July 7





  • Greece faces last chance to stay in euro as cash runs out (Reuters)
  • Tsipras Begins Brussels Campaign to Keep Greece Inside the Euro (BBG)
  • Greek Crisis Shows How Germany’s Power Polarizes Europe (WSJ)
  • Eurogroup Head Dijsselbloem Calls for ‘Credible’ Greece Package (BBG)
  • Europe Not Playing ‘Domino Theory’ Leaves Markets Calm on Greece (BBG)
  • China stocks fall again despite support measures (Reuters)
  • Chinese Trading Suspensions Freeze $1.4 Trillion of Shares Amid Rout (BBG)
  • Crude Creeps Higher After Downturn (WSJ)
 
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Athenian Democracy vs. Neoliberal Gods





Prime Minister Alexis Tsipras allows the Greek people to decide their own fate via a democratic referendum. That’s enough to send the troika – the European Central Bank (ECB), the European Commission (EC), and the International Monetary Fund (IMF) - into a paroxysm of rage. Here, in a nutshell, is everything one needs to know about the EU “dream”.

 
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The Real Bubble: Average M&A Multiple Hits 16x As First Half Volume Crosses Record $1 Trillion





While China is scrambling to launch a plunge protection team after every other initiative to support its burst stock market bubble has failed, one wonders when the real asset bubble will go pop: that, of course, is the global - but mostly US - merger and acquisition bubble.

 
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Europe-US Risk Diverges Most In 13 Years - How Best To Trade The Referendum





European risk has never traded at such an extreme level relative to US risk... ever. But when looking for the best bang for your Greferendum-trading buck - are you better off buying higher vol in Europe or lower US vol? Or, as Goldman Sachs explains below, what are the highest payouts on bets for a rebound...

 
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The Complete Greek Referendum Walk-Thru: When, How, What To Expect; And What Comes Next





  • WHEN ARE RESULTS DUE?
  • WHAT ARE GREEKS BEING ASKED TO VOTE ON?
  • WHAT DO THE POLLS SHOW?
  • WHAT IF IT’S YES?
  • WHAT IF IT’S NO?
  • HOW WILL MARKETS REACT?
 
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China State Official Hints Beijing May Bailout Greece





"I believe there are two ways to give Greece Chinese aid. First, within the framework of the international aid through EU countries. Second, China could aid Greece directly. Especially considering the Silk Road Economic Belt and the Asian Infrastructure Investment Bank. China has this ability," Fan Mingtao director of the Quantitative Finance Department at China's Institute of Quantitative and Technical Economics told Sputnik China. It would be difficult to imagine a more fitting pilot program for the world’s newest supranational lender than a rescue package for the birthplace of Western democracy which has been brought to its knees by that most Western of all multilateral institutions, the IMF.

 
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Goldman: "Greece Will Remain In Euro Even If It Votes No", And How Markets Will React





The time to negotiate the Greek referendum this Sunday has come and gone and at this point, one can only sit and wait as the vote results start trickling in on Sunday evening. And, as Goldman's Huw Pill prudently observes, the outcome of Sunday's Greek referendum is uncertain. "Regardless of the outcome, Greece will continue to face substantial economic dislocation in the shorter term." What is interesting is that Goldman says "Greece will ultimately remain in the Euro area even in the event of a ‘No’ vote."

 
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Yelp Plunges 11%, Halted After CEO Gives Up Trying To Find Buyer





Two short months ago, Yelp's share price collapsed following dismal earnings. Within days the company had an idea for pumping its stock back up - announce the investigation of a possible sale... Now weeks later, the CEO has been forced to admit: YELP CEO SAID TO DECIDE AGAINST FINDING A BUYER FOR NOW. We are sure there was just so much demand and that the company had so much organic growth ahead that he decided against it... traders are not amused - Yelp is down 8% and halted.

 
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Goldman "Conspiracy Theory" Validated As ECB Expands QE Program





The ECB has expanded the list of PSPP-eligible SSA bonds, setting the stage for more ECB QE and turning one more conspiracy "theory" into conspiracy "fact."

 
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Payrolls Preview: Goldman Expects Jobs Data To Disappoint





Despite much hopeful banter among the mainstream media, Goldman forecast nonfarm payroll job growth of 220k in June, notably below consensus expectations of 234k. This is roughly in line with Goldman's expectations for below average job growth over the remainder of 2015. Employment indicators were mixed in June: reported job availability, the employment components of most manufacturing surveys, and ADP employment growth improved, but jobless claims and job cuts both rose slightly and online job ads declined. Overall, the June data point to a gain below the very strong 280k increase in May.

 
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Goldman: "ECB Will Have To Go Big"





When it comes to Europe, Greece lost the blame game, and just like the Ukraine civil war last year, became an unwitting catalyst greenlighting Germany's concession to ECB QE, this time it may be Greece that launches the next step in the ECB's master plan: not just QE but more QE. This is precisely what Goldman's Franceso Garzarelli, co-head of macro and markets research, admitted earlier today in an interview on Bloomberg TV, when he said that the ECB "will have to go big" if the situation in Greece worsens and leads to wider peripheral bond yield spreads.

 
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Ex-Im Bank Bites The Dust Today - Good Riddance To A Crony Capitalist Heist





The Export-Import Bank died last night when its charter expired. After 81 years, what is commonly known as Boeing’s Bank is headed toward Washington’s trash bin. When Congress returns it could revive Ex-Im, which primarily subsidizes big business exports. But a proper burial for what Barack Obama once called “corporate welfare” would save Americans money, reduce economic injustice, and promote economic growth. Ex-Im’s closure is a very rare victory for the good guys in Washington. Crony capitalism is running rampant in America, undermining confidence in a market economy.

 
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Frontrunning: July 1





  • Tsipras backs down on many Greece bailout demands (FT)
  • Creditors skeptical of Tsipras' offer (Reuters)
  • Greek Pension Rationing Begins; Poll Shows Tsipras Backed (BBG)
  • Greek referendum poll shows lead for 'No' vote, but narrowing (Reuters)
  • Greek Bank Controls Heap More Pain on Crisis-Weary Citizens (BBG)
  • Greek Crisis Ripples Across European Companies as Markets Swing (BBG)
  • China Stocks Fall: Shanghai Composite Index Drops 5.2% (BBG)
  • China June factory, services surveys fuel hopes economy leveling out (Reuters)
  • Some Chinese Are Taking 22% Margin Loans to Finance Stock Purchases (BBG)
 
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