The Tragedy Of The Euro

By Alasdair Macleod – Re-Blogged From Silver Phoenix

After two decades, the euro’s minders look set to drive the Eurozone into deep trouble. December was the last month of the ECB’s monthly purchases of government debt. A softening global economy will increase government deficits unexpectedly. The consequence will be a new cycle of sharply rising bond yields for the weakest Eurozone members, and systemically destabilising losses in the bond portfolios owned by Eurozone banks

The blame-game

It’s the twentieth anniversary of the euro’s existence, and far from being celebrated it is being blamed for many, if not all of the Eurozone’s ills.

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EU Faces Time Crunch

From Forbes – Re-Blogged From WUWT

Emissions-producing diesel trucks and cars pass windmills (David McNew/Getty Images)Getty

2018 was an important year for EU energy legislation, as lawmakers rushed to complete the promises of President Jean-Claude Juncker before the end of the term in just four months time. But it is still uncertain whether these new energy laws, including the bloc’s first limits on CO2 emissions from trucks, will be passed before the March deadline.

If lawmakers run out of time, it could mean that new lawmakers have to start over from the beginning when they take office this summer, following the pan-European election in May.

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Central Banks Can’t Stop A 2019 Debt Disaster

By Mike Gleason – Re-Blogged From Silver Phoenix

Mike Gleason: It is my privilege now to welcome in Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente’s perhaps the most well-known trends forecaster in the world and it’s always a joy to speak with him. Mr. Celente, thanks for the time again today and welcome back.

Gerald Celente: Always great being on with you, thank you.

Mike Gleason: Well, Gerald, as always, there’s no shortage of topics to discuss with you. Why don’t we start with Europe? The Yellow Jacket Protests have been making headlines. The French President Macron is extraordinarily unpopular and citizens there are more than a little frustrated on how out of touch the government is, both in France and in Brussels at the EU. People have taken to the streets, Macron has responded by delaying the very unpopular fuel tax hike and he plans to increase wages and pensions.

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EU Recession Imminent – Euro Disunion As Brexit, Italy And End Of QE Loom

By John Mauldin – Re-Blogged From Gold Eagle

Someone asked recently how many times I had “crossed the pond” to Europe. I really don’t know. Certainly dozens of times. It’s been several times a year for as long as I remember.

That makes me an extremely unusual American. Most of us never visit Europe, except maybe for a rare dream vacation. And that’s okay because our own country is wonderful and has a lifetime of sights to see. But it does affect our perspective on the world.


Graphic: European Central Bank

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Trump Weighs in on France Chaos

By Jack Montgomery – Re-Blogged From BlabberBuzz

U.S. President Donald Trump has weighed in on the growing chaos in Emmanuel Macron’s France, calling it “very sad” and suggesting it is time the scrap the Paris climate agreement and “return money back to the people in the form of lower taxes”.

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G20 and the Financial War

By Alasdair Macleod – Re-Blogged From Goldmoney

This weekend, the G20 nations meet at Buenos Aires. The most important issue will be America’s use of trade policy, ostensibly to bring an end to China’s unfair trade practices. Rather, it could mark a significant milestone in the cold war against China and drive the global economy into a slump.

Introduction

President Trump initiated the trade war with China. There is a widespread assumption he is pursuing his “art of the deal”, coming into negotiations aggressively to get a satisfactory compromise. Therefore, the script goes, China will be forced to climb down on its restrictive practices, technology and patent theft, and modify its Made in China 2025 (MiC2025) initiative to open it to American corporations. Trade negotiators from both sides have been working in the background to achieve some sort of progress before Presidents Trump and Xi meet at the G20 this weekend, which buoys up hopes of a positive outcome.

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After Germany’s Merkel Comes Chaos

By John Rubino – Re-Blogged From Dollar Collapse

After a long, initially-successful run promoting European integration and mass immigration, German Chancellor Angela Merkel saw the bottom fall out of her political fortunes this year. This morning she stepped down as leader of the formerly-dominant Christian Democrat party and promised not run again when her term as Chancellor ends in 2021.

What happens next is almost certain to be chaotic, as the following chart (courtesy of this morning’s Wall Street Journal) makes clear:

German political parties Merkel

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