EUROPE | WHAT REALLY HAPPENED

EUROPE

Sep 15 04:43

De-Dollarization: Europe Joins The Party

Authored by Ronald-Peter Stoferle via The Mises Institute,

The ongoing “World War of Currencies”, as the German journalist Daniel D. Eckert called it, the battle for the future of the world monetary system is not a shallow action film but more like Game of Thrones – a complex series with hundreds of actors and locations, stretching over decades and demanding full concentration from the viewer.

Sep 13 08:21

De-Dollarization: Europe Joins the Party

By Ronald-Peter Stöferle

The ongoing “World War of Currencies”, as the German journalist Daniel D. Eckert called it, the battle for the future of the world monetary system is not a shallow action film but more like Game of Thrones – a complex series with hundreds of actors and locations, stretching over decades and demanding full concentration from the viewer.

The bottom line is that what has been true for decades still applies. The US dollar continues to enjoy the confidence of markets, governments, and central banks. But faith in the US dollar weakens a little every year. Europe, China, Russia and many small countries set new initiatives every year to make themselves independent. And gold, too, plays a major role in this slow departure from the US dollar. But for the world financial system, none of their currencies offer a viable, fully-fledged alternative to the US dollar yet, which is why any news of the death of the US dollar is definitely exaggerated...

Sep 13 04:41

Draghi's New ECB QE4EVA Is A Mistake. Here Is What He Should Have Done...

Authored by Daniel Lacalle via DLacalle.com,

The ECB is creating a dangerous bubble and should not have cut rates by 10bps nor added a new purchase program of €20 billion per month.

1) Eurozone states are already financing themselves at negative rates. There is no need for lower rates and this disguises real risk.

This has saved governments more than 1 trillion euro in interest expenses (handelsblatt.com/today/finance/…)

2) The ECB has not abandoned its stimulus. It repurchases all maturities, launched a liquidity injection (TLTRO) in March 2019 and balance sheet stands at almost 40% of eurozone GDP.

3) Excess liquidity is 1.7 trillion euro. More liquidity does not lead agents to spend/invest more.

There is no higher solvent credit demand because monetary policy perpetuates overcapacity and zombifies the economy. Share of zombie companies has soared c30% since 2013. (BIS)

Webmaster's Commentary: 

To all those investors with intense exposure to the Euro right now, you may want to rethink your options.

Sep 12 11:20

Eurasian Politics On The Cusp Of Change

Authored by M.K. Bhadrakumar via IndianPunchline.com,

The meeting of the foreign and defense ministers of Russia and France in the 2+2 format in Moscow on September 9 signified not only a warming up of relations between the two countries but a reset in Russia’s ties with the West.

The last time a Franco-Russian event in the 2+2 format took place was in October 2012 in Paris. A year later, the conflict erupted in Ukraine and the European Union imposed sanctions against Russia. The trajectory since then appears to be reversing its course.

The first signs appeared during the G7 summit in Biarritz on 24-26 August where the schism between the West and Russia significantly narrowed. The US President Donald Trump announced that he intended to invite Russian President Vladimir Putin to next year’s G7 at Miami.

Webmaster's Commentary: 

Any possible thaw in European and US relations with Russia, is a very positive thing right now; Macron should be applauded for taking these steps.

Sep 12 11:20

Eurasian Politics On The Cusp Of Change

Authored by M.K. Bhadrakumar via IndianPunchline.com,

The meeting of the foreign and defense ministers of Russia and France in the 2+2 format in Moscow on September 9 signified not only a warming up of relations between the two countries but a reset in Russia’s ties with the West.

The last time a Franco-Russian event in the 2+2 format took place was in October 2012 in Paris. A year later, the conflict erupted in Ukraine and the European Union imposed sanctions against Russia. The trajectory since then appears to be reversing its course.

The first signs appeared during the G7 summit in Biarritz on 24-26 August where the schism between the West and Russia significantly narrowed. The US President Donald Trump announced that he intended to invite Russian President Vladimir Putin to next year’s G7 at Miami.

Webmaster's Commentary: 

Any possible thaw in European and US relations with Russia, is a very positive thing right now; Macron should be applauded for taking these steps.

Sep 12 10:02

Eurozone gets fresh help to bolster flagging growth

The European Central Bank has unveiled fresh stimulus measures to bolster the eurozone, including cutting a key interest rate.

The deposit facility rate, paid by banks on reserves parked at the ECB, was already negative, but has now been cut from minus 0.4% to minus 0.5%.

The ECB also said it was re-starting quantitative easing. It will buy €20bn of debt a month from 1 November.

The eurozone's main interest rate has remained unchanged at zero.

Sep 12 06:57

Recessions in the eurozone.

Sep 12 05:47

EU reacts to Netanyahu's plans to annex Jordan Valley, calls any settlement 'illegal'

Israeli Prime Minister Benjamin Netanyahu announced on Tuesday his plans to annex the Jordan Valley in the West Bank as an election promise if he wins next time.

"Today, I announce my intention, after the establishment of a new government, to apply Israeli sovereignty to the Jordan Valley and the northern Dead Sea," Netanyahu said in a speech broadcast live on Israeli TV channels.

The prime minister said, however, that the move would be done after publication of a long-awaited US peace plan and consultations with US President Donald Trump.

Around 65,000 Palestinians and 11,000 Israeli settlers live in the Jordan Valley, according to the Israeli human rights group B'Tselem. The main Palestinian city is Jericho, with around 28 villages and smaller Bedouin communities.

For their part, the EU said they did not recognise any changes made to the pre-1967 borders and called any settlement plans "illegal under international law".

Sep 12 05:13

EU Accused Of Fascism After "Protecting Our European Way Of Life" Commissioner Announced

The creation of a UN "Commissioner for Protecting our European Way of Life" has sparked outrage across Europe, after the new role which will oversee immigration policy was announced by incoming EU commission president Ursula von der Leyen.

The new position, to be filled by Greece's EU commissioner, Margaritis Schinas, was unveiled along with the rest of von der Leyen's new cabinet at a Tuesday press conference in Brussels.

While Von der Leyen said the new Commission cabinet was "as diverse as Europe is," critics have noted that all of its members are white, while calling the new commissioner position "fascist," according to The Independent - which couldn't find a single person in support of the new role for a quote.

"This looks like the portfolio to fight back against the rise of the fascists, but only by adopting their divisive rhetoric around ‘strong borders’," British Green MEP Molly Scott Cato told The Independent.

Webmaster's Commentary: 

I'm terribly sorry, but the 21st century people displaced in the Middle East, have been displaced by wars, coupled with a searing lack of economic opportunities in their own countries.

The first intelligent thing to do is stop all the wars of conquest in which the US government is utterly, and painfully, complicit. If people feel they can thrive at home, and do not feel that they, or their families are threatened, they will most likely stay in their home countries.

Why is the concept of "diversity and personal excellence" so hard for the EU to grasp?!? Why have they not developed a "merit system", as Australia has adopted, which would insure that Europe gets "the best of the best", coupled those new citizens having a genuine desire to embrace their adoptive country's laws and cultural norms?!?

Folks, this isn't rocket science; this is how you build countries, and vet immigrants in the 21st century, period, end of discussion.

Sep 12 04:46

Full ECB Preview: Draghi Parting Gift - A Bazooka Or A Water Pistol?

Will outgoing ECB president Mario Draghi's "swan song" decision - the one in which he is widely expected to cut rates deeper into negative territory and resume sovereign and/or corporate QE - be a bazooka or a waster pistol? That's the question.

Markets currently fully price in a 10 bps reduction in the deposit rate to -0.5% with just over a 40% chance of a deeper cut of 20 bps.

Of the 70 economists polled by Reuters, around a quarter look for a 20bps reduction with the remainder looking for 10bps. Elsewhere, the survey noted that almost 90% of respondents expected a resumption of bond purchases as of October with a touted monthly amount of EUR 30bln”. In order to mitigate the impact of deeper negative rates on the Eurozone banking sector, around 90% of those surveyed look for some form of tiering system.

Sep 11 07:42

EU creates defence and space branch 'to complement NATO'

The European Union will create a new defence and space arm to help fund, develop and deploy armed forces, the bloc’s incoming chief executive said on Tuesday, naming an ally of French President Emmanuel Macron for the role.

Sep 11 06:30

Macron's EU army dreams crushed by Von der Leyen - 'EU will never be a military alliance'

EMMANUEL MACRON's dreams of building a common EU army were crushed by incoming European Commission President Ursula von der Leyen yesterday, who ruled out the creation of any such force.

Sep 10 04:36

DENMARK ANNOUNCES INCREASED MILITARY CONTRIBUTIONS AND NATO SUPPORT IN SYRIA AND BEYOND

SOURCE: ALETHO NEWS

BY SARAH ABED | SEPTEMBER 9, 2019
Denmark is recognized as one of the most socially and economically developed countries in the world, which enjoys a high standard of living as well as high metrics in national performance, protection of civil liberties, and the lowest perceived level of corruption in the world, has announced that it will be boosting military contributions to missions around the world, including joining the United States in its illegal and unauthorized deployment in northeastern Syria.

The sovereign and proud nation of Syria has neither invited nor does it accept any foreign invaders on its land and has repeatedly demanded that all foreign forces leave on their own before they are forced out. Syria is highly committed to liberating every inch of its land from terrorist control whether that be domestic or foreign, and protecting its territorial integrity.

Webmaster's Commentary: 

WOW!

The only thing I can think right now is, which high Danish government official got "so badly compromised" that they felt compelled to promise these actions for the US and NATO?!?

Sep 09 09:18

Russia boosts gas supplies to Europe while transit deal with Ukraine in limbo

Russian energy major Gazprom plans to pump twice as much gas into European storage than last year, while Moscow and Kiev have not still agreed on the terms of a new transit contract.

Sep 09 07:36

The Elite Are Blocking BREXIT

Sep 08 08:16

Boris is Broken

Sep 06 10:36

European Gas Prices Plunge To 10-Year Low

Sep 05 07:20

Erdogan: We'll Flood Europe With Syrian Refugees Unless 'Safe Zone' Established

We will be forced to open the gates. We cannot be forced to handle the burden alone," Turkish President Recep Tayyip Erdogan warned on Thursday while demanding that European countries give political support to his controversial 'safe zone' plan in northern Syria.

Ankara is currently in tense negotiations with the United States over Erdogan's plan to militarily carve out a large swathe of territory along the Turkish-Syrian border which would serve as a buffer zone of sorts where US-backed Kurdish militias could not operate.

Erdogan said one million refugees could settle in the new buffer territory, thus alleviating the crisis on Turkish soil, and ultimately for Europe as well.
Turkey sees the YPG core of the Syrian Democratic Forces (SDF) as a terrorist extension of the outlawed PKK. Turkey has of late vowed to carve out the proposed 'safe' territory on a unilateral basis if it can't make progress with Washington.

Webmaster's Commentary: 

And right now, the US government and military are in overwhelm elsewhere, a reality upon which Edrogan is counting heavily to have tipped his hand with this threat.

Sep 03 16:34

'He voted against Maastricht, he voted against Lisbon!' Boris RIPS APART u-turning Corbyn

“He is a man who voted against every single piece of EU legislation.

“He voted against Maastricht, he voted against Lisbon, time and time again.

“He has said that we must uphold the results of the EU referendum.

“Time and time again he has said that he’s on the side of democracy and vindicating the will of the people.

“And what do we see now? He has been converted with his Momentum activists trying to take over the streets.

“Converted into the agent of those who would subvert democracy and overturn the will of the people.”

The brutal response came after Mr Corbyn accused the Prime Minister of failing to put forward proposals to the Brexit impasse before MPs.

Sep 03 15:31

Remainer rebels cheer with glee after hijacking Commons to sabotage no deal

The Government was defeated by a margin of 328 to 301 votes in what was a major victory by Remain rebels over the under-pressure Government. Those MPs will now take control of parliamentary business tomorrow and attempt pass legislation which would prevent a no deal Brexit on October 31. This would see Mr Johnson make a humiliating climbdown by forcing him to return to Brussels and ask the European Union to delay Brexit until January 31, 2020 if no agreement has been reached and MPs have not approved a no deal withdrawal.

The humiliating defeat is a huge blow for Mr Johnson, who may now likely call a snap general election to take place in six weeks time - despite being Prime Minister for less than two months.

Sep 03 15:28

Boris Johnson in crushing no deal Brexit vote defeat - snap general election imminent

BORIS JOHNSON has suffered a crushing defeat after rebels voted in favour of a motion designed to block a no deal Brexit, leaving the Prime Minister’s plans in tatters and making it almost certain he will call a snap general election for October 14.

Sep 03 08:57

Why Portugal’s Tax-Free Crypto Trading Matters for Bitcoin

By Lubomir Tassev

Cryptocurrency enthusiasts and businesses in the industry have had to put up with regulatory uncertainty for quite some time. The strong desire to tap into their incomes and profits goes hand in hand with failure on behalf of authorities and regulators to fully understand the nature of decentralized digital assets. Not to mention how absurd the reluctance to legalize something they want to tax anyway. Cases in Portugal show that it’s hard to positively know what exactly traders, investors and companies owe the state. Luckily, the narrow scope of the local tax legislation means they have to pay less than in other countries...

Sep 03 08:39

What We can Learn from Liechtenstein

Op-Ed by Titus Gebel

If one mentions in a discussion that Liechtenstein’s political system could possibly serve as a model for Germany, one usually reaps scorn and ridicule. If you dig a little deeper to find out what they know about Liechtenstein, the result is usually: little to none.

For example, Liechtenstein is the only country in the world to allow its communities to secede and thus grants self-determination by virtue of the Constitution...

Sep 01 08:49

EU Antitrust Chief: “Google And Facebook Are Sucking Up Data From Every Corner”

By Tyler Durden

This is the full transcript of speech delivered by Margrethe Vestager, the European Union Antitrust Chief, held at the Business Forum of the German Ambassadors’ Conference, Berlin, 27 August 2019:

Ladies and gentlemen,

It’s a great pleasure, and an honour, to be here with you today. I want to thank Heiko Maas for those kind words, and for inviting me to join you.

I’m especially glad to have the chance to meet with you, who represent Germany’s 230 diplomatic missions around the world, as well as German industry. Because all of us here have an important role to play, to prepare Europe’s economy for the challenges of the future.

Aug 25 10:48

Swiss banking collapses says new study

Aug 22 07:20

Is Germany the new sick man of Europe?

Aug 20 11:54

UK plans to end EU freedom of movement immediately in no-deal Brexit

Britain said on Monday it would end European Union freedom of movement rules immediately after it leaves the bloc on Oct. 31 but Prime Minister Boris Johnson said the country would not be hostile to immigration.

Aug 17 16:09

People Already Hurting From 5G in Geneva, Switzerland

By B.N. Frank

In 2017, Swiss doctor Bertrand Buchs launched a petition asking for a moratorium on installation and many doctors and scientists have already signed it.

Worldwide opposition to 5G is growing and includes individuals and organizations concerned about other issues associated with this technology in addition to biological and environmental risks. Regardless, 5G continues to be installed and operated in the U.S. and around the world even though it’s been reported that people and their pets have been getting sick from exposure. This is now also being reported in Geneva, Switzerland...

Aug 15 14:44

Norway election: How 350,000 immigrants can VOTE in elections - ‘Doesn’t make sense’

NORWAY’s local elections are less than a month away and a rule could see up to 350,000 immigrants legally vote in the Scandinavian country.

Aug 15 08:56

Irish Newspaper Calls for Union between Ireland, Wales and Scotland

Writing for the newspaper, Jason O’Toole suggests that a pact of the four nations – Ireland, Northern Ireland, Scotland and Wales – would be similar to the Scandinavians with their Nordic Council.

He says Wales and the rest could mimic the inter-parliamentary co-operation between Sweden, Denmark, Iceland, Finland, Norway, Greenland and other smaller islands.

“There would no doubt be countless benefits if we replicated their model, such as with trade agreements and unrestricted borders, which would solve the Irish backstop,” Jason O’Toole.

“And it would collectively make us a much stronger power within the EU too.

Aug 13 11:00

Sweden's Implementing a 26 Dollar Begging Tax

Aug 13 10:54

Hungary Announces Investigation into Social Media Censorship in Europe

Hungarian Justice Minister Judit Varga has announced that she will be starting an investigation into censorship of political views on social media in Hungary and across Europe.

The Hungarian minister made her announcement on social media platform Facebook over the weekend, saying she would be creating a “working group” within the ministry to “investigate the possibilities for a legal environment to ensure the transparency of social media service providers – both on EU and national level.”

“Originally their job would not be to influence societal processes and elections by censoring comments on an ideological basis, however, if they had done it once they shall accept the necessity of the regulation and follow the rules of democracy,” she added.

Aug 13 10:32

‘EU make peasants vote again!’ Trump adviser sends panic through ‘undemocratic’ Brussels

John Bolton, following his first meeting with Prime Minister Boris Johnson in London, took aim at the EU for prolonging the Brexit process and not respecting the result of the 2016 referendum. Mr Bolton called the EU’s bluff and insisted its refusal to re-negotiate the failed withdrawal agreement was a ploy to “make the peasants vote again and again”. Mr Bolton said: “The fashion in the European Union is when the people vote the wrong way from the way the elites want to go, is to make the peasants vote again and again until they get it right.

Aug 12 08:09

Pope Francis Proposes ‘Europe First’ Against Populist Nationalism

Pope Francis said that citizens of European nations should put the good of Europe before that of their own countries in a remarkably frank interview Friday.

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