EU

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Axel Merk: Making Sense Of The Impact Of Brexit

A special edition podcast
Monday, June 27, 2016, 8:22 PM

A very sleep-deprived Axel Merk joins us for this special edition podcast. Axel and his team have pulled late nights over the past few days following the Brexit vote results in real-time and the ensuing aftermath.

Axel, CEO and founder of the Merk Funds, is originally from Europe and one of the best experts we know on the currency markets, as well as monetary policy. In this podcast, he explains why he sees the Brexit as a sea-change in sentiment that will have far-reaching implications for Britain, Europe, and the rest of the world -- though it may take years before they are fully recognized and expressed. He expects the post-Brexit future to more market volatility, more populism as political stability weakens, more (ineffectual) fiscal spending to goose economic growth, and likely more armed conflict around the world. » Read more

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Greece Humiliated

The Troika wants Greece to be a warning to the other PIIGS
Monday, July 13, 2015, 7:50 PM

Well, that went badly. For the Greeks in general and for Tsipras specifically. After many years and rumors and brinksmanship, and a powerful "No" referendum from the people of Greece, Tsipras managed to ‘secure’ for Greece a deal worse than any other offered to date. » Read more

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Why Greece Is The Precursor To The Next Global Debt Crisis

The Eurozone fantasy will be one of the early casualties
Friday, July 10, 2015, 11:48 AM

There is no way for Greece to fix its debt problem if it keeps the euro as its currency.  Every purported solution that doesn’t address the core cause of the debt is mere theater. » Read more

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Greece: Where To From Here?

Amidst the turmoil, some hard predictions can be made
Monday, July 6, 2015, 10:23 PM

It’s pretty hard keeping up with the rapid-fire developments in Greece. Things change every hour it seems; rumors abound and confusion runs deep.

At this point, it all depends on what Greece is prepared to accept and what the EU is prepared to offer. So from here, we could see anything from a full financial pardon from the EU (very unlikely) to a full Greek exit (still quite possible). » Read more

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Greece Exposes The Global Economy's Achilles Heel

Countries that can't repay their debts -- won't
Thursday, February 5, 2015, 4:54 PM

The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they've dared to speak the truth.

Such honest assessments are not supposed to be uttered in politics, no matter how true they may be. And so, as you can imagine, the machinery of the defenders of the status quo is in quite a lather over the whole affair. And it's doing everything it can to minimize and marginalize the new Greek government. » Read more

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Off the Cuff: Market Mayhem

After the recent carnage, what's next?
Thursday, October 16, 2014, 9:12 PM

In this week's Off the Cuff podcast, Chris and Alasdair MacLeod discuss:

  • The Market Meltdown
    • What the heck just happened?
  • The Next Round of Bailouts
    • If you hate the problem, wait till you see the solutions
  • Gold
    • Ready for a return to the limelight?
  • Ebola
    • Is the media selling us too much fear?
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Off the Cuff: A Look Across the Pond

Europe is driving much of the action this week
Thursday, September 18, 2014, 11:46 AM

In this week's Off the Cuff podcast, Chris and Alasdair Macleod discuss:

  • Independence For Scotland
    • The implications of this week's historic vote
  • Gold's Depressed Price
    • The establishment benefits from a low price
  • Europe vs Russia
    • Why the EU holds a losing hand
  • The Evils of Central Banking
    • Creating worse problems than they're supposed to solve
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Ukraine: A Perspective from Europe

The West's power & influence is on the wane
Wednesday, August 20, 2014, 11:54 AM

It is still a mystery to many historians as to how and why this World War I led to the slaughter of nine million people. But analysis of different parties to the original event, pursuing their own vested interests without a grasp of the bigger picture, certainly rings true of the Ukrainian situation today with regards to the West, embodied in a disparate committee called NATO. The similarity with the chaotic diplomacy that led to WW1 stops there: Russia under Vladimir Putin’s leadership appears to have a good grasp of its objective. » Read more

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On the Path To War

Putin plays chess, the "markets" play Tic-Tac-Toe
Monday, August 11, 2014, 7:25 PM

The US is clearly now pushing Russia towards war. But if you read the signs correctly, Russia has been preparing for exactly this outcome for many years.

Out of several reasons that US power brokers specifically -- but western power brokers more generally -- are deeply unhappy with Russia right now is that Russia is committing a cardinal sin: it is openly, brazenly calling for an end to dollar dominance and has moved aggressively with China to achieve that aim. » Read more

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Off the Cuff: Europe Is A "Train Crash In The Making"

The risks have only grown much worse since 2008
Friday, May 23, 2014, 12:57 PM

In this week's Off the Cuff podcast, Chris and Alasdair discuss:

  • The Insane UK Housing Bubble
    • Courtesy of central bank-driven low rates & hot money
  • EU Banks Are As Vulnerable As Ever
    • None of the issues from 2008 have been resolved
  • The Coming EU Energy Drought
    • Worsened by Russia's new gas deal with China
  • The Lack of Churchills
    • Strong leaders are needed, but nowhere in sight