Peel back the layers of the TPP and you’ll find what some believe to be a “corporate Trojan horse.” Disguised as “free trade,” the TPP’s provisions and tactics undermine Constitutional safeguards and national sovereignty. But there’s also a silver lining. The TPP exposes who, in the marbled halls of political power, is working for whom. It forces politicians to put their cards on the table, and by their hands you will know them. Packaged as a gift to the American people that will renew industry and make us more competitive, the Trans-Pacific Partnership is a Trojan horse. It’s a coup by multinational corporations who want global subservience to their agenda. Buyer beware. Citizens beware.
"If banknotes are outlawed you will be forced to hold money that is a liability of a commercial bank (deposits) and refused access to money that is the liability of the central bank (bank notes)... In such a world, zero-yielding gold would be a high-yielding instrument. If the authorities ever sought to restrict access to banknotes, then gold would suddenly find itself enfranchised as money for the first time in many decades. So, given the scale of these competing forces, it is just too early to say what might happen to the gold price, but the allure of gold will grow the more it becomes clear that central bank fiat has failed and the age of government fiat is dawning."
"... in the last decades, the basic principles of international cooperation have come to be increasingly ignored. These are the principles that have been hard won by mankind as a result of the ordeal of the war. We saw attempts to establish a unipolar world. We see the strong-arm block thinking gaining momentum. All that undermines sustainable global development. The creation of a system of equal security for all states should become our common task. Such system should be an adequate match to modern threats, and it should rest on a regional and global non-block basis. Only then will we be able to ensure peace and tranquillity on the planet."
Why would financial firms pay so much for blogger Ben Bernanke’s thoughts? Aside from the marketing benefits we noted, there is one good reason. In essence, you’d want to know what Bernanke would think if he were wrong or ill-informed about some important economic issue. That is something money managers understand in a way that academics and policymakers do not, for being wrong – and knowing what to do next – is a critical skill for the professional. Getting the most information from Bernanke, either in a one-on-one or just reading his work online, boils down to just two questions: “What doesn’t he know” and “What is he sure of that is actually wrong?”
Meant to extend and widen trade and related commercial relationships between the participating countries, the Trans-Pacific Partnership (TPP) has also been presented as a way for the U.S. to maintain his economic and political power in East Asia in the face of the rising influence of China in that part of the world. What should be most clear is that the Trans-Pacific Partnership is not a free trade agreement. Parts of it may, no doubt, lower some trade barriers, thus making easier the production, sale and purchase of a wider variety of imports and exports. However, TPP, like all other trade agreements in the post-World War II era is a managed trade agreement.
Threatened with deflation, the authorities will want to turn the tide in the worst possible way. What’s the worst way to stop deflation? With hyperinflation. Yes, we may suffer a year or two more of sluggish growth... or even deflation. Stocks will crash and people will be desperate for paper dollars. But sooner or later, the feds will find their feet and lose their heads. Most likely, the credit-drenched world of 2015 will end... not in a whimper of deflation, but in a bang. Hyperinflation will bring the long depression to a dramatic close long before a quarter of a century has passed.
Amid tense negotiations between Greek PM Tsipras, the IMF, and EU creditors, some officials say the chances of an agreement have increased materially since Yanis Varoufakis was sidelined after infuriating his eurozone counterparts in Riga last month. Now, just when there appeared to be some hope that Athens may avert a catastrophic default, Varoufakis has reportedly distributed a new "blueprint" for Greece that has little in common with the plan advanced by the country's reshuffled negotiating team.
In a remarkably unbalanced and lazy article on gold this month the Economist magazine attempts to dismantle the case for investors and others to own gold. Both from an investment point of view and also from an ethical point of view. The article is so laughably one sided that it resembles propaganda rather than journalism. Therefore, we take pleasure in dissecting the article misleading sentence by misleading sentence.
Just a day after German President Joachim Gauck shocked his government by remarking in an interview that Germany should at least "consider" demands by Prime Minister Alexis Tsipras that the nation pay billions of euros in reparations for the Nazi occupation of Greece, ekathimerini reports that none other than 'helpful' Russians are willing to provide assistance in the World War II claims investigation.
Hitler’s policies are still viewed to this day as a great example of how unprecedented government intervention fixed a dire economic problem. In short, Hitler laid a golden egg and produced an economic miracle. As early as 1933, even before any miracle could be seen, the New York Times had nothing but praise for his ambitions, according to the following front page headline: “There is at least one official voice in Europe that expresses understanding of the methods and motives of President Roosevelt—the voice of Germany, as represented by Chancellor Adolf Hitler.” Unfortunately for the people living under the Third Reich, this was never allowed to happen. All of these efforts became increasingly subordinated to the logic of war.
Greek FinMin Varoufakis and German FinMin Schaeuble are cross-talking again this morning:
*GREECE'S VAROUFAKIS SAYS 'GREXIT' IS 'NOT AN ISSUE' (well the market & ECB thinks it is)
*SCHAEUBLE SAYS EXPECTATIONS FOR EUROGROUP MEETING NOT VERY HIGH (oh ok)
As next week's meeting and deadlines loom, hope is running high today in Greece... even though Schaeuble warns "don't expect spectacular Eurogroup results."
BOND SELLOFF DEEPENS; GERMAN 10-YR YIELD JUMPS 17 BPS TO 0.76%
SPANISH 10-YEAR BOND YIELD CLIMBS TO 2%; HIGHEST SINCE NOV. 24
ITALIAN 10-YEAR BOND YIELD CLIMBS ABOVE 2%; 1ST TIME THIS YEAR
10Y TREASURY YIELD CLIMBS 6BPS TO 2.31%, HIGHEST SINCE DEC. 8
U.K. 10-YR BOND YIELD CLIMBS 8 BPS TO 2.06%; MOST SINCE NOV. 24
JAPAN 10Y YIELD UP 7.5 BPS, SET FOR BIGGEST RISE SINCE MAY 2013
Since 2012, there’s been an unprecedented call from foreign nations to repatriate their gold from Federal Reserve vaults in the U.S. This is an incredible development given many countries’ 71-year reliance on the Fed as a custodian for their bullion. Something huge must of happened in the last few years to prompt such action. That something may be a break in foreign gold holders’ trust in the Fed as a custodian of their precious metals.
"Austerity is broken and has failed... Moreover, today’s short-term crisis management, which merely moves from one payment to the next, needs to stop... Future reforms should no longer target ordinary citizens, but above all the wealthy and the profiteers of 'nepotism'."