Big Short’s Eisman Is Shorting U.K. Banks On Brexit

By Mark O’Byrne – Re-Blogged From Silver Phoenix

Eisman says U.K. is one of the biggest risks globally

– He is betting against two UK banks in the lead up to Brexit – Eisman may short 50 other UK firms if “Trotskyite” Corbyn becomes UK PM – Eisman is famous for betting against the US housing market ahead of the 2008 subprime-mortgage crisis

by Business Insider UK

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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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Why The Market Crash Is Just Beginning

By Michael Pento – Re-Blogged From Silver Phoenix

Wall Street’s playbook stipulates that every down tick in the market is just another buying opportunity. While that is most often true, peak margins, a slowing global economy and the bond bubble collapse makes this time more like 2008 than just a routine selloff.

In the vanguard of this coming market crash is China, whose make-pretend growth rate slid to 6.5% in the third quarter. This is the slowest pace of growth that the communist government has been willing to own up to since the last global financial crisis. Leaving one to conclude that the reality in China is far worse.

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Rome vs Brussels

By Arkadiusz Sieron – Re-Blogged From Gold Eagle

Only one digit has changed. But it may have profound consequences, sending the country closer to junk status. Meanwhile, Rome and Brussels clash over budget plan. Will that duel benefit or harm the yellow metal?

Only One Notch Above Being Junk

Italian drama continues. On Friday, Moody’s, one of the most significant rating agencies in the world, downgraded the Italian credit rating from Baa2 to Baa3. It means that Italy’s local and foreign-currency bonds are now only one notch above junk territory. The move was not surprising, as well as the reasons behind this decision:

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Inflation Target Regrets

By Michael Pento – Re-Blogged From Silver Phoenix

Beginning this fall, and continuing throughout 2019, the stock market’s performance should be vastly different from what has occurred during the prior few years. Indeed, the huge reconciliation of stock prices is arriving now.

The primary reason behind this is the watershed change in global central banks’ monetary policies. For years central banks had been keeping rates near 0%, or below, and at the same time printing over a hundred billion dollars’ worth of fiat currencies each and every month to purchase bonds and stocks. That is all changing now. According to Capital Economics, fourteen major global central banks are either in the process right now, or have indicated that they be will next year, in the process of raising interest rates. At the same time, QE on a global net basis will plunge from $180 billion per month at its peak during 2017, to $0 by December…and will then go negative in 2019.

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Does Gold Speak Italian?

By Arkadiusz Sieron – Re-Blogged From Gold Eagle

Is Italy the new Greece? Read today’s article and find out what does the newest Italian turmoil imply for the gold market.

The recent days have been quite tumultuous in Italy. The turmoil started last week when the new government submitted its spending plans to the EU. The ruling coalition set Italy’s budget deficit at 2.4 percent of its GDP. The number is much higher than the current deficit which is set to be 1.5 percent of the GDP. The proposed difference between spending and revenue is also higher than 1.6 percent proposed by the country’s finance minister Giovanni Tria. So the number was above the expectations. Actually, it came as a shock, especially that the International Monetary Fund has projected it to fall to 0.9 per cent in 2019. Well, nobody expected the Italian inquisition.

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Italy Calls Europe’s Bluff, And The Euro Loses Either Way

By John Rubino – Re-Blogged From Gold Eagle

When Italy elected a bunch of rowdy populists back in March, the rest of the eurozone assumed (or at least hoped) that the weight of responsibility would bring Rome back into line. But so far the Italians appear to be serious about ending austerity and forcing the ECB to finance their spending ambitions. The just-passed Italian budget calls for a rising deficit, in direct disobedience of Continental (read German) authorities.

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