Commodity Trade Mantra

Posts Tagged ‘Greek Crisis’

Eurozone Wants to Force Common Fiscal Control, Eurobonds - Jim Rickards

Greece now has to run its government according to German dictates. Greece has already outsourced its monetary policy to the ECB & now it’s sort of outsourced its fiscal policy to the German finance ministry. So you’re on a path to unified fiscal policy & ultimately the Eurobonds – bonds backed by full strength & credit of not just any one country but the entire Eurozone.

Not Just Debt: Government Spending & Easy Money Fuel Greek Crisis

It is not debt as such that is behind the current crisis in Greece. Large government outlays and strong increases in the money supply are being ignored in most analyses of the Greek crisis. Loose fiscal and monetary policies have been instrumental in the generation of various non-productive activities that have been squandering wealth.

US Mint Runs Out Of Silver Coins On Same Day Price Of Silver Plunges To 2015 Lows

The U.S. Mint says 2015 American Eagle Silver Coins sold out & plans to resume sales in two weeks. In other words, no orders until August. But tell me – In just what supply/demand universe does such an explicit confirmation of a surge in demand for silver result in a plunge in the price of spot silver to its lowest level of the year!?

The Euro Crisis: Solvency of the ECB is at Stake

How the Greek crisis is a euro crisis: ECB itself now needs refinancing as losses that ECB faces from Greece alone are about €189.3bn – twice its equity capital & reserves of €98.5bn. Given the likely collapse of the Greek banking system & default on its debt, collateral held by ECB are more or less worthless. Upsetting of the Greek applecart risks destabilising the euro itself.

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