
Insured Deposits Under 100,000 : a Myth
In Cyprus, confusion is growing, and there is talk of a 60% tax on bank accounts exceding 100,000 euros! Actually, no one knows, and we have to wait
Read articleIn Cyprus, confusion is growing, and there is talk of a 60% tax on bank accounts exceding 100,000 euros! Actually, no one knows, and we have to wait
Read articleSo Cyprus has been bailed out, for the time being, but we must ask the question : Isn’t the new plan worse than the first one? Given, of course, that both plans are nothing short of theft of private and company savings by incompetent political leaders, it’s like comparing pestilence with malaria.
Read articleRisks are increasing everywhere and the situation is becoming more and more confusing. We need to get back to the fundamentals : ideally we need to get out of paper currencies and into gold, get out of the banking system to avoid all confiscation, and get out of the Eurozone toward a country that...
Read articleGold rose above $1,600 for the first time in more than two weeks, as concern that Europe’s debt crisis will escalate increased the appeal of the metal as a haven.
Read articleA great amount of money is being created by the central banks (FED, BCE, BoJ) but, for now, we’re not seeing a strong inflation
Read articleThe european banking system remains entirely dependant on the ECB for its daily operations, and this is not good news
Read articleOnly one thing can explain the backwardation in gold : loss of confidence. Potential buyers of futures reckon there is a significant risk that the contract might not be fulfilled
Read articleAway from the cameras, without invoking a « last chance summit », Ireland just benefited from a restructuration
Read articleVenezuelans have just been experimenting one of the risks associated with paper money. Actually, they just lost 46% of their purchasing power in a single day
Read articleMany large international banks, like Crédit Agricole, Commerzbank and UBS are announcing important losses for the last quarter of 2012
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