With a ‘Hard Brexit’ looking more likely and Trump’s inauguration this week, 2017 is well and truly under way.
What we expect the year to hold is probably not even half of what it really will. But from what we know, the upcoming French and German elections, referendums, geopolitical crises, steps towards reverse globalisation and a third of global government debt yielding negative interest rates, governments are already prompting central banks and investors to turn to the one asset that has survived millennia of financial and monetary crises.
One that is highly liquid and convertible into other currencies – gold. Continue reading →
German Chancellor Angela Merkel called on Donald Trump to steer clear of protectionism and isolation. Photo: Reuters
‘There are more advantages … to moving forward together than when everyone resolves their problems for themselves’
German Chancellor Angela Merkel warned Saturday against protectionist tendencies of US President-elect Donald Trump, citing lessons learned in the 2008 global financial crash and stressing the need cooperation and united action. Continue reading →
The real gem of this article is the last paragraph and its related photo posted below. Espionage, aiding and abetting the enemy by enemies within runs deep in America and has for decades.
The Scandinavian countries Sweden, Denmark and Norway are regarded as a pioneer in the the effort to eliminate money and move totally electronic. Denmark closed its final Mint outsourced the operation to Finland.This means that there is no coinage in the three states struck anymore. In this war on cash, about 20% of all transactions were settled in Denmark last year with cash. In Germany and Austria, cash transactions accounted for 80%. Scandinavia is pushing hard to eliminate all cash completely to enable 100% efficient tax collecting.Continue reading →
The Bible’s book of Galatians, VI teaches, «as you sow, so shall you reap». And for Saudi Arabia, which has overtly and covertly supported rebellions in Libya, Syria, Iraq, Yemen, Ethiopia, Philippines, and Lebanon that have led to civil wars and inter-religious strife, the day of reckoning may soon be at hand. The present Saudi king, Salman bin Abdul Aziz, is the last of the sons of the first Saudi king, Abdul Aziz al Saud, who will ever sit on the Saudi throne. After Salman dies, Saudi leadership will pass to a new generation of Saudi royals. But not all the descendants of the first Saudi king are happy about how the future succession may turn out. Continue reading →
Greece’s bailout programme is not credible, says the IMF (Getty)
GREECE may never recover from its deep recession and financial crisis thanks to the brutal austerity measures demanded by its European creditors, the International Monetary Fund (IMF) has warned.
The debt-laden country has been set ambitious economic targets by the European Commission and countries such as Germany, which are not “credible” and will hamper growth, according to the Washington-based organisation.
Only through a “Herculean effort” will Athens be able to meet the demands of its creditors, and through slashing spending in vital services that will derail Greece’s long-term prospects, said the fund. Continue reading →
A euro crisis and contagion is almost certain in 2017, Irish economist and writer David McWilliams has warned:
“It is almost certain that there will be another euro crisis in 2017. The last time we had a euro crisis, the focus of attention was Greece; today the vortex is Italy.
Italy is not Greece. Italy is the third-largest economy in the Eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. Continue reading →
QUESTION: Marty; You have been emphasizing not to buy gold bullion but US gold coins such as the $20. You have said that the last time they confiscated gold coin collections were exempt. With the drastic action in India, and the war on currency in Turkey, is this why you have said stocks and collectibles are a safer bet? Continue reading →
I recently spent several weeks in Italy, taking the pulse of the country. The Italian referendum on December 4 turned out exactly how I predicted it would.
The “No” vote won in a landslide, with 59% of the vote versus 41% for “Yes,” with a 70% turnout.
The pro-EU Prime Minister promptly announced his resignation after the crushing defeat.
A surging populist party waits in the wings. They’re now likely a matter of months away from taking power and then holding a new referendum on whether Italy should dump the euro and go back to the lira.
Insight from January of 2016 for today regarding the Italian economic crisis:
Italian banking stocks saw another day of meltdown on January 19 as skittish investors were spooked by the country’s burgeoning toxic loan crisis. (GIUSEPPE CACACE/AFP/Getty Images)
How a banking crisis in Italy could reverberate around the world
The value of Italy’s third-largest bank has plummeted by 60 percent since the start of this year. There are signs many are pulling money out of Banca Monte dei Paschi, out of Italian banks, and out of Italy in general. Even if the nation is not hit by a banking crisis imminently, the dire situation in Italy’s banks and its whole economy could still cause a financial disaster in Europe that would reverberate around the world.
We’re not talking a Greece-type crisis here. Italy is the eurozone’s third-largest economy, and the eighth largest in the world. Its economy is over seven times the size of Greece’s. An economic collapse in Italy would put Europe in a crisis far, far worse than the ongoing Greece crisis. Continue reading →