Aug 31

Is China Dumping German Paper Now? Bund Prices Are Collapsing (ZeroHedge, Aug 31, 2015):

German bonds are under significant pressure again this morning – despite equity weakness and US Treasury strength. This raises the rather interesting question of whether – after decimating Treasuries last week, is China turning to its Bund holdings and liquidating them to raise cash?

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Aug 28

Nazis’ Gold Train Is Said to Have Been Found in Poland (RINF, Aug 27, 2015):

On 27 August, Polish Radio announced that two people have presented evidence that they have discovered Nazi Germany’s legendary “Gold Train,” containing art and that’s especially “laden with precious metals,” and that the pair are demanding a 10% cut of its value, for finding this nearly 200-yard-long train, in a hidden mountain tunnel in the Polish town of Walzbrych, formerly the German town of Waldenburg. Nazis had constructed the tunnel in 1943, to hide valuables from Soviet forces, in the event that Germany might lose the war. Continue reading »

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Aug 22

Migrant Influx Prompts Macedonia, Britain and France to Increase Security (New York Times, Aug 20, 2015):

BERLIN — Europe’s migration crisis took on new dimensions Thursday as at least three countries announced added security measures to address the biggest movement of refugees and migrants seen here since the aftermath of World War II.

The sheer numbers of migrants are now clogging critical choke points across Europe. In July alone, 107,500 migrants entered the 28-nation European Union, according to Frontex, the bloc’s border management agency. That was more than three times the number in the same month last year.

The latest country to be overwhelmed by the surge was the tiny Balkan nation of Macedonia. It declared a state of emergency on Thursday and said it would deploy the military to restore calm to its southern border with Greece and its northern frontier with Serbia. Continue reading »

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Aug 18

Germany Struggles With Too Much Renewable Energy (The Oil Price, Aug 17, 2015)

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Aug 15

angela-merkel

Study: Germany made €100bn profit on Greek crisis (Keep Talking Greece, Aug 10, 2015):

What? I don’t believe it! Rea-lly? Germany made a 100 billion euro profit on Greek crisis? No, kidding? HA! And yes, so it is! A study conducted by a German Economic Institute has shown that every time investors got bad news about Greece, they rushed to Germany’s ‘safe haven’ with the effect that the interest rates on German government bonds were falling!

“Greece’s biggest creditor Germany has made a huge profit on the country’s debt crisis over the last 5 years as it saved through lower interest payments on funds borrowed amid investor “flights to safety.”

Each time investors got bad news about Greece, they rushed to the ‘safe haven’ of Germany, with the interest rates on German government bonds falling, according to the study from the private, non-profit Leibniz Institute of Economic Research, Agence France-Presse reported Monday. Continue reading »

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Aug 12

DAX Crashes After Germany Warns Greek Bailout “Insufficient” (ZeroHedge, Aug 12, 2015):

With the Greek bailout deal now nearly done, all that stands in the way of disbursal is the Greek parliamnent and a predictably incalcitrant Germany which, according to Bild (citing EU sources) has now determined that the new bailout plan is “insufficient.”

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Aug 01

Fascism

History is Repeating – German Government Launches Investigation of Journalists for Treason (Liberty Blitzkrieg, July 31, 2015):

If it were up to the Federal Attorney General and the President of the German Domestic Security Agency, two of our reporters would soon be in prison for at least two years. Today, we were officially informed about investigations against our Markus Beckedahl, Andre Meister and an unknown“ party. The accusation: Treason.

– From Netzpolitik.org:  Suspicion of Treason“: Federal Attorney General Announces Investigation Against Us In Addition To Our Sources

Widespread outrage across Germany is erupting following the revelation that the nation’s Attorney General has launched an investigation into treason charges for two journalists working for Netzpolitik.

The charge is treason. The crime is journalism.

We learn from the Guardian that: Continue reading »

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Aug 01

FYI.


Residents Wake up to Find Overnight, City Park Has Been Turned Into Migrant Camp For 2,000 (Breitbart, July 27, 2015)

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Jul 27

Quadriga

– Goodbye Troika: Germany Rides Into Its Greek Colony On The “Quadriga” (ZeroHedge, July 27, 2015):

With creditors’ motorcades having officially returned to the streets of Athens in the wake of Greek lawmakers’ approval of the second set of bailout prior actions last Wednesday, tensions are understandably high.

After all, these are the same “institutions” which Yanis Varoufakis famously booted from Greece after Syriza swept to power in January, and they’ve come to represent the oppression of the Greek people and are now a symbol of the country’s debt servitude.

Although an absurd attempt was made to rebrand the dreaded “troika” earlier this year, the new and rather amorphous moniker – “the institutions” – never really stuck and perhaps because everyone involved felt the need to put a new name to the group that Greeks regard as the scourge of the Aegean in order to make negotiators feel safer on their trips to Athens, creditors have now added the ESM to their collective and rebranded themselves “The Quadriga.” 

Apparently (and unfortunately), this is not a joke. Here’s MNI: Continue reading »

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Jul 21

Greek Prime Minister Asked Putin For $10 Billion To “Print Drachmas”, Greek Media Reports (ZeroHedge, July 21, 2015):

Back in January, when we reported what the very first official act of open European defiance by the then-brand new Greek prime minister Tsipras was (as a reminder it was his visit of a local rifle range where Nazis executed 200 Greeks on May 1, 1944) we noted that this was the start of a clear Greek pivot away from Europe and toward Russia.

We further commented on many of the things that have since come to pass:

Europe, for one, will be most displeased that Greece has decided to put its people first in the chain of priority over offshore bidders of Greek assets. Most displeased, especially since the liquidation sale of Greece is part of the Greek bailout agreement: an agreement which as the Troika has repeatedly stated, is not up for renegotiation Continue reading »

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Jul 18

Bilderberg-2011

Flashback:

Germany’s Former Chancellor And Bilderberg Member Helmut Kohl Admits: I Acted Like A Dictator To Bring In The Euro


Euro

Little-Known History of the Euro: Crisis Was Baked In from the Start (Washington’s Blog, July 17, 2015):

You’ve heard that the Euro was created to provide two benefits for Europe:

1. Unite Germany, France and other countries in a peaceful political situation, to prevent repeats of World War I and II

2. Create a macro-zone to compete against the economic strength of the U.S.

So how did we get to this … austerity and meanness of spirit, as typified by the grim expressions sported by German Finance Minister Wolfgang Schäuble in talks with Greece? Continue reading »

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Jul 17

FYI.

More smoke and mirrors …


Ex-IMF Chief: Germany Should Leave The Euro, Not Greece (ZeroHedge, July 17, 2015)

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Jul 14

FYI.

“The dramatic deterioration in debt sustainability points to the need for debt relief on a scale that would need to go well beyond what has been under consideration to date – and what has been proposed by the ESM. European countries would have to give Greece a 30-year grace period on servicing all its European debt, including new loans, and a very dramatic maturity extension, or else make explicit annual fiscal transfers to the Greek budget or accept ‘deep upfront haircuts’.”

Or, more simply: “Mark it zero.”


IMF Declares War On Germany: In “Secret” Report Lagarde Says Greece Will Need Massive Debt Relief (ZeroHedge, July 14, 2015):

Update: Europe now looks to be in damage control mode. Here’s Reuters:

  • EU SOURCE SAYS EURO ZONE LEADERS KNEW OF LATEST IMF DEBT ANALYSIS FOR GREECE BEOFRE AGREEING ON THIRD BAILOUT TERMS

A divide between the IMF and Europe (read: Germany), regarding writedowns on Greece’s debt to the EU has been brewing for quite some time and recently returned to the international spotlight when, a few months back, the Fund indicated debt relief was a precondition for its participation in any further aid for Athens. Continue reading »

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Jul 14

RIP-Democracy

Everything You Need to Know About the Greek Crisis and ECB Fascism in Two Paragraphs (Liberty Blitzkrieg, July 13, 2015):

Yanis Varoufakis just sat down for his first interview since resigning as Finance Minister of Greece. He talked frankly with Harry Lambert of the New Statesman. Here are the two most important paragraphs from the transcript.

There is no democracy in Europe. None.

Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the programme – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.

 “So at that point I said ‘Well perhaps we should simply not hold elections anymore for indebted countries’, and there was no answer. The only interpretation I can give [of their view] is, ‘Yes, that would be a good idea, but it would be difficult. So you either sign on the dotted line or you are out.’”

Any questions? Continue reading »

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Jul 13

schauble-hand-sign-2

EU Exit Will Now Be “Threat To Those Who Don’t Behave The German Way,” BofA Says (ZeroHedge, July 13, 2015):

While the Greek “compromise” deal may have averted an outright economic collapse in Greece in the short-term (although one would be hard pressed to describe the current situation on the ground as anything other than a depression) and may for the time being allow EU officials to cling to the notion that the euro is “indissoluble,” the fraught negotiations that took place over the weekend in Brussels laid bare for all to see the unbridgeable gap between EMU nations.  Continue reading »

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Jul 13

Evil-Schaeuble

New Government Likely In Greece, Depositor Bail-In Still Possible, Deutsche Bank Says (ZeroHedge, July 13, 2015):

Over the weekend, the entire world looked on in horror as Alexis Tsipras – who just days earlier secured a crucial referendum victory which by all accounts empowered him to ride into Brussels a conquering hero – was eviscerated by German FinMin Wolfgang Schaeuble and several like-minded EU finance ministers who smelled blood last Thursday after Greece submitted a proposal that betrayed the Greek PM’s lack of conviction. Continue reading »

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Jul 12

Germany’s Most Noted Euroskeptic Is Now In Control (ZeroHedge, July 12, 2015):

This weekend’s events in Europe have clarified who is really running the show across the ‘union’. Hans-Werner Sinn, Chairman of the Ifo Institute for Economic Research, vehemnt euroskeptic, and head of the so-called ‘five wise men’ advising the German government and specifically Angela Merkel, confirmed his call from 2012 for a “temporary grexit from the euro.” The right wing economist previously explained “Greece and Portugal have to become 30-40% less expensive to be competitive again. This is being attempted through excessive austerity measures within the euro zone, but it won’t work. It will drive these countries to the brink of civil war before it succeeds. Temporary exits would very quickly stabilize these countries, create new jobs and free the population from the yoke of the euro.” Anyone positioning for more centrist union-supporting rhetoric, hope is no longer a strategy as the hardest conservatives are now in charge.

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Jul 11

eurozone in flames_0

Finland Echoes Germany, Wants Greece Out; Five Other Nations Back Grexit (ZeroHedge, July 11, 2015):

Initially it was just an unconfirmed report circulating in the German FAS media that the local FinMin had proposed a “temporary Grexit” option. Then it got some more traction when a ZDF journalist reported that it was much more than just speculation…

It now appears that this was not only not a rumor, but Schauble’s sentiment is contagious: moments ago Finnish broadcaster MTV reported that first Finland, and then the Eurozone’s smaller, if somewhat more solvent nations, Estonia, Lithuania, Slovakia, Slovenia and even the Netherlands, support the German position on temporarily suspending Greece’ Euro membership. Continue reading »

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Jul 11

schäuble-hand-signschauble-hand-sign-2


German FinMin Blasts Greek Proposal: Debt Restructuring Impossible, “Everyone Knows They Can’t Be Believed” (ZeroHedge, July 11, 2015):

In the face of Latvia’s outgoing President’s comments, that debt writedowns for Greece will only come after the bankruptcy of the state…

“this [Greek] debt is so big that everyone understands that it won’t be repaid. Loans to Greece have just bought time so that those in power don’t have to take decisions. This is like a game: who can hold out longer by not  showing that this money has been lost?  This burden has become bigger and there obviously is no possibility to repay. The debt writedown of Greek debt will come after bankruptcy of state.”

German finance minister Schaeuble has once again gone on the offensive this morning saying that “we know from the Treaties that debt relief is not possible,” yet noting that “the need for help for Greece is obvious.” However, his concluding, seemingly ad hominem, remarks are the most troubling for those expecting smooth passage of Greek proposals and a renewed rally to record stock market highs… “Greeks won’t pay their bills… everyone knows they can’t be believed.” Continue reading »

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Jul 11

The Greek Job - Varoufakis-car

Varoufakis’ Stunning Accusation: Schauble Wants A Grexit “To Put The Fear Of God” Into The French (ZeroHedge, July 10, 2015):

Earlier we reported that Yanis Varoufakis, seemingly detained by “family reasons” would be unable to join his fellow parliamentarians and personally vote in what is likely the most important vote of Syriza’s administration: the one in which he and his party capitulate to the Troika and vote “Yes” to the proposal he and Tsipras urged everyone to reject just one week ago.

Subsequently, it was made clear what these family reasons are: Continue reading »

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