Category Archives: European Union

“Losses Will Be Devastating,” Triggering A Derivatives Blow-Up And Worldwide Collapse

Today the man who remarkably predicted the collapse of the euro against the Swiss franc warned King World News that “losses will be devastating,” triggering a derivatives blow-up and worldwide collapse. Egon von Greyerz:  “Eric, I’m looking at the bond markets, worldwide.  What we’ve seen now both in the U.S. and in Germany is that rates have increased Read More

How this Debt-Addicted World Could Go the Way of the Mayans

Paying a high price for too many elites and their ‘frivolous cravings’ Nowadays many countries’ social and political structure relies on debt-driven consumption and increasing levels of entitlements. Blame the policy makers. To drive economic growth, boost living standards, and manage growing inequality, policy makers have used debt and monetary tools to create economic activity. Read More

Greece May Sign Russia Gas Deal As Soon As Today

It appears that Herr Schaeuble will be left in the cold as following comments from the Greek energy minister that a deal is coming “soon,”  it is being reported that: *RUSSIA MAY SIGN GAS LINK ACCORD W/ GREECE TODAY: ROSSIYA 24 According to Gazprom’s CEO comments on Greek TV, following his meeting with Greek PM Read More

“We Have Come To The End Of The Road” – Greece Prepares For Default, FT Reports

Update: as always is the case in Europe, nothing is confirmed until it is officially denied by officials, so here you go:GREEK GOVT OFFICIAL DENIES FT REPORT GREECE PLANNING DEFAULT There was no explanation from the government official where Greece would get the €2.5 billion it needs to fund upcoming IMF interest and principal payments. * Read More

This Centerpiece Of China’s Plans For World Domination Will Shock People In The West

Today one of the top money managers in the world warned King World News about earth-shaking events that are taking place in the East.  He also discussed the centerpiece of China’s plans for world domination that will shock people in the West. Stephen Leeb:  “Eric, as you know, for quite some time I have focused on East Read More

Eurozone Can’t Survive in Current Form, Says PIMCO

Single currency area must become a “United States of Europe” in order to secure its future, says manager of world’s largest bond fund. By Szu Ping Chan The eurozone is “untenable” in its current form and cannot survive unless countries are prepared to cede sovereignty and become a “United States of Europe”, the manager of Read More

As Major Cracks Appear In The Global Financial System, It’s Everyone, Every Currency And Every Central Bank For Itself

By John Ing of Maison Placements March 24 (King World News) – Much is made of America’s economy becoming one of the fastest growing economies in the world. It is all relative. Debt has grown even faster. The US dollar too has soared relative to other currencies, thanks in part to a relatively better economic Read More

“Belief That European QE Will Work Is Far-Fetched,” Bill White Warns This Will “End Very Badly”

As the title of Hinde Capital’s latest note ascribes, we are on “The Road to Nowhere,” and this excellent discussion with former BIS Economic Adviser (and teller-of-the-truth) William White explains it all.. “I’m not sure [European QE] is going to do anything – certainly, nothing that’s good. The fundamental problem here, as I see it Read More

Humiliated Greece Eyes Byzantine Pivot as Crisis Deepens

Neither side holds the upper hand in the strategic game of chicken which could still see Greece forced out of the euro By Ambrose Evans-Pritchard Greece’s new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet Odysseus Elytis – voice of Read More

How Germany Is Blowing Up The European Union

As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to show how dramatically austerity has failed in Europe- Read More