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Demonetisation: Black money calculations don’t add up
Noam Chomsky: The surge in right-wing and anti-establishment sentiments as a result of failed neo-liberal policies in Europe is likely to lead to collapse of the EU in “a tragic development,”
This is an excerpt from Mike's 2016 Silver Summit appearance. If you missed his keynote presentation, you can watch his full talk in this 56-minute video.
Populism and waning national appetite for vital reforms threaten European integration, putting at risk the continent's prosperity and raising the specter of falling incomes, European Central Bank President Mario Draghi said on Wednesday.
Dec 1, 2016 - 06:05:56 PST
The most likely scenario heading into the Italian constitutional referendum was for a win by the 'no' camp, which would make attempts to recapitalise the country's lenders that much harder and lead to an increased risk of a "moderate" bank run, a top investment bank said.
Italy’s constitutional referendum on Sunday could sour investors on anemic banks across the Continent—not just in Italy. How Banco Popular and other weaklings handle the stress will test Europe’s efforts to gird its fragile financial system from contagion.
Peter Hahn, dean at London institute of Banking & Finance, examines the problems in the Italian banking system ahead of Sunday's referendum vote. He speaks on "Bloomberg Surveillance."
In today's "Morning Must Read," Bloomberg’s Tom Keene and Francine Lacqua highlight comments on this weekend's Italian referendum. They speak with Harvard University Professor of Economics Kenneth Rogoff on "Bloomberg Surveillance." (Source: Bloomberg)
On Wednesday, a federal judge authorized a summons requiring Coinbase, America’s largest Bitcoin service, to provide the IRS with the records of every user who traded on the site between 2014 and 2015. Covering the identities and transaction histories of millions of costumers, the request is believed to be the largest single attempt to identify tax evaders using virtual currency to date.
Credit Suisse Group AG has frozen dozens of accounts as it tries to determine if U.S. clients are hiding money from the Internal Revenue Service after the firm pledged to come clean about secret assets, according to a person familiar with the matter.
Venezuela Braces for Runaway Inflation As Merchants Weigh “Mountains of Cash” Instead Of Counting ItNovember 30, 2016
Venezuela is deep into the death spiral, and things are likely to get worse before they get better. When they start weighing cash, it’s a sign of runaway inflation...
Expect interest rates and silver prices to rise, along with debt, accelerating currency devaluations, and economic craziness until a massive reset occurs.
warned investors to stay away from assets that have rallied, like the U.S. dollar.
Precious metals expert Michael Ballanger charts recent moves in the gold market and sees a rally in the making.
For those that really understand the long-term opportunity in the complex, the answer is a clear “no.”
Police released footage on Tuesday of what may be the luckiest theft in recent history.
The US has a staggering amount of Treasury debt outstanding that has doubled in size (actually up 105% since October 2008). And as interest rates rise, the US Treasury will have to figure out how to refinance the debt as it matures. In an interview on CNBC Wednesday, Steven Mnuchin said about the current mix…
“The Libor rate....... It is effectively telling us that the Fed is already two hikes behind the curve.”
It was highly unusual in US$ repo to find not just a concerning quarter-end rate, but really how the repo rate rose significantly in the week before and remained high in the week after.
Is “ugly” the right word?