PIIGS

The global banking system that publicly went bankrupt during September 2008 prompting government interventions in the form of capital injections, buying of toxic assets, insurance of bad debts and even outright nationalisation’s has started to bankrupt the states that bailed them out, starting with the smaller states with Iceland setting the ball rolling, and this … Continue reading

Ireland’s Government drops the mantra of no bailout by finally coming clean to the Irish public that a multi-billion Euro bailout has been agreed ahead of markets opening on Monday. Many Irish citizens will be angry that they have been repeatedly lied to as a series of senior government politician’s have stepped forward these past … Continue reading

The dollar continued to get beat down through most of the trading day but started to rally back a bit in the afternoon……

The big news this week in terms of ginormous government transfer payments is, as usual, out of the Fed, as it embarks on an equally ambitious….

This chart is from Business Insider with data from Markit. If these CDS have bottomed then it will certainly have implications for the Euro, and in turn, Gold. [ad#Text-Ad Box #2]

Bryan Rich

In my December 26 Money and Markets column I focused on the outlook for 2010, and the looming threats to global risk appetite. I warned that sovereign debt problems posed a major threat to global economic recovery. And I concluded that this threat represented a catalyst for a return of global risk aversion…..

By Martin Hutchinson, Contributing Editor, Money Morning It had a huge housing boom, and is now dealing with the fallout. It has a left-of-center government and a big budget deficit, but relatively low debt in relation to its gross domestic product (GDP). And it has a worrisome current account deficit. I’m talking, of course, about … Continue reading

The ascending dominance of the “Currency Contagion” meme will raise the selling price of this asset 197%…..

“Qu’ils mangent de la brioche” or “Let them eat cake” has become a phrase used to denote the obliviousness and selfishness of the ruling establishment. Well, with a slight twist it’s apropos in the case of paper debt-backed paper currency regimes under stress. Cranking up the debt presses to ease the nominal pain of asset … Continue reading

…In a debt crisis, Washington, Wall Street and European governments still seem to think that the only way to “restore investor confidence” is to pump in massive amounts of rescue capital, bail out the sinking ships, and plug the biggest leaks in the system…..