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Almost certainly prices for goods in Cyprus will rise as a result of its banking crisis, because the imposition of capital controls will restrict imports, leading to supply bottlenecks. In addition residents will no longer be complacent about keeping money on deposit, but seek other alternatives. Large depositors may be trapped, but ...
The chaos that is Cyprus has mesmerised markets, including for gold and silver. At the time of writing there are signs that markets were beginning to emerge from their hypnotic trance. Bond yields for Greece, Spain and Italy began to rise as it dawned on markets that both large and small depositors were beginning to understand the ...
The Cyprus crisis has exposed a perception problem at the heart of modern finance. Everyone has a bank deposit and regards this as their property: a form of warehousing if you like. In reality of course – as many gold and silver owners are acutely aware of – banks operate on a fractional reserve basis, whereby your money is ...
Germans are becoming increasingly hostile to the euro – with opposition centred in conservative states such as Bavaria, Hesse and Baden-Württemberg. These states are being hurt by higher equalisation payments and are increasingly opposed to endless bailouts. Many are starting to view the euro as harming the cause of European unity ...
Pure theft. That’s the description many are giving to the weekend’s news from Cyprus, where bank depositors have had their accounts frozen, with a special 9.9% levy on deposits of over €100,000 and 6.7% on amounts below that. Interest is also being taxed at 20-25%, and the country is being forced by the IMF and EU to ...
Despite the lack of agreement over the latest (insignificant) iteration of the Greek bailout, what has really shaken the Eurozone to its very core was the new rating downgrade for France, coming on the heels of headlines calling France the “timebomb at the heart” of the EU, it means that sovereign debt concerns are slowly ...
Even before the Federal Reserve announced its latest bond-buying blitz on September 13, US money supply measures were growing at a healthy clip. Unofficial M3 calculations reached $14.7 trillion in August. Now that the Fed has approved additional money printing to the tune of $80 billion a month ($40bn in MBS and $40bn in Treasury debt) ...
Here's everything worth knowing about the euro in one big infographic: The (Solar) Systemic Eurosystem. Click image to enlarge and/or use Ctrl+Plus (or ⌘+Plus for Macs): Hat tip to ECB (many sources).
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Gold:Gold Buy Rates |
$43.2531/gg $1,345.30/oz |
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Silver:Silver Buy Rates |
$0.6864/gg $21.35/oz |
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Platinum:Platinum Buy Rates |
$46.3659/pg $1,442.10/oz |
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Palladium:Palladium Buy Rates |
$23.4781/pd $730.20/oz |
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