This is the month when the future of the eurozone will be decided. This week, Greek leaders will meet with European officials to discuss what comes next for Greece. The new prime minister of Greece, Alexis Tsipras, has already stated that he will not accept an extension of the current bailout. Officials from other eurozone […]
The recent surge in oil prices is just a “head-fake,” and oil as cheap as $20 a barrel may soon be on the way, Citigroup said in a report on Monday as it lowered its forecast for crude. Despite global declines in spending that have driven up oil prices in recent weeks, oil production in the U.S. is […]
Less than a day after the head of the SNB hinted at the possibility of capital control, the head of the largest Swiss cantonal bank, and the fourth largest Swiss Bank, the Zurich Cantonal Bank or ZCB, came out and explicitly said what so many fear (and which warning they would ascribe to as the […]
LATEST NEWS : Alan Greenspan: "Greece Will Leave The Eurozone" And "There Is No Way That I Can Conceive Of The Euro Continuing"
Every two weeks or so on average, we ask ourselves: why do central bankers only tell the truth after they have quit their post (rhetorically, of course). The last time it was the BOE’s former head Mervyn King, who said that “more monetary stimulus will not help the world economy return to strong growth .” […]
It was a lesson that Norman Lamont learnt the hard way when he was Chancellor of the Exchequer in 1992. You can’t buck the markets when they really turn against you. Back in the day, sterling was part of the Exchange Rate Mechanism, following a disastrous decision by John Major to enter the economically illiterate […]
Citigroup is the Wall Street mega bank that forced the repeal of the Glass-Steagall Act in 1999; blew itself up as a result of the repeal in 2008; was propped back up with the largest taxpayer bailout in the history of the world even though it was insolvent and didn’t qualify for a bailout; has […]
LATEST NEWS: Commodity Trading Giant Exits Physical Gold Due To "Lack Of Physical With A Documented Origin"
Back in March, otherwise very under-the-radar Swiss commodities trading giant Gunvor  and the fifth largest oil trader in the world, made headlines in the press when one of its then-Russian owners, billionaire Gennady Timchenko (estimated net worth of $8.5 billion), sold his entire 44% stake in the company to his partner in the firm, […]
If you want to understand what’s wrong with the US financial system, start by asking this question: why does Jamie Dimon always get his way? Dimon is the charismatic chief executive of the nation’s biggest bank, JP Morgan. JP Morgan has $2.5tn in assets and holds more than 10% of all the savings deposits in […]
Is this the start of the next major financial crisis? The nightmarish collapse of the price of oil is creating panic in financial markets all over the planet. On June 16th, U.S. oil was trading at a price of $107.52. Since then, it has fallen by almost 50 dollars in less than 6 months. continue […]
Fed up with Britain’s icy blasts and soaring house prices? Then why not bask in the sun and paddle the azure seas from the shores of your own Greek island. You may have to share living space with goats, but with more than 20 Greek islands for sale, Brits can live out their Mamma Mia! […]