Tag Archives: Europe

Austria Repatriates 110 Tons Of Gold From Bank of England

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“Six months ago we warned that Austria was considering it, and now, as Kronen-Zeitung reports, with no rigged Swiss-like referendum required, Austrian Central Bank Governor, and the person many claim is in Mario Draghi’s inner circle of trust (soon to be revised) Edwald Nowotny has committed to repatriating 110 tonnes of gold. This is part of Nowotny’s new ‘gold strategy’ and with his position (on paper) as one of Draghi’s foremost lieutenants, appears to be a big stab in the back for super money printing Mario.  Austrian central bank plans to keep 50% of its gold reserves in Austria vs 17% now, Kronen-Zeitung reports, citing governor Ewald Nowotny’s unpublished new ‘gold strategy.'”

http://www.zerohedge.com/news/2015-05-22/austria-confirms-faith-fiat-fading-repatriates-110-tons-gold-boe

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Centuries-Old Shipwreck Chock-Full Of Gold Found Off Finnish Coast

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“More than $150 million worth of gold treasure has been found in a centuries-old shipwreck discovered recently off the coast of Finland — and it has archaeologists going gaga.  Divers found the ship and its treasure — 10,000 gold coins and jewelry — south of the Finnish island of Jussarö, Discovery News reported. The divers think the sunken vessel, a legendary 15th-century ship named Hanneke Wrome, sank in a storm. According to historic documents, the ship had more than 200 passengers and crew members aboard. In addition to the coins and jewelry, it carried 200 parcels of fabric and 1,200 barrels of honey.”

http://www.huffingtonpost.com/2015/05/08/shipwreck-treasure-finnish-coast_n_7224232.html

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Bank Of England Outs Itself Lying About EU Referendum

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“The Bank blew its cover on Friday when it accidentally emailed details of the project – including how the bank intended to fend off any inquiries about its work – direct to the Guardian. According to the confidential email, the press and most staff in Threadneedle Street must be kept in the dark about the work underway, which has been dubbed Project Bookend. It spells out that if anyone asks about the project, the taskforce must say the investigation has nothing to do with the referendum, saying only that staff are involved in examining ‘a broad range of European economic issues’ that concern the Bank.”

http://www.thedailybell.com/news-analysis/36313/Central-Bank-Caught-Lying/

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ECB Money Printers Tip Hedge Funds In Private Meeting

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“Shortly after 6pm London time yesterday, The ECB’s Benoit Coeure told a non-public audience of hedge funds in London that ‘the central bank would moderately front-load its purchases in its quantitative easing program because of the seasonal lack of market liquidity in the summer.’ The reaction was a 50 pips drop in EURUSD… but this was inside information was not released to the trading public until around 8am London time – and resulted in a 150 pip plunge. Translation: a select private group of head funds in London were leaked ECB front-loading news 14 hours before The ECB deemed it ‘correct’ to publicly release the comments.”

http://davidstockmanscontracorner.com/the-ecb-money-printers-are-dangerous-incompetent-and-corrupt-tip-hedge-fund-in-private-meeting/

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France Moves To Ban Free Drink Refills

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“In a bid to curb the country’s rising obesity rate, the French parliament nearly-unanimously voted on April 1 to ban all free refills on sugary drinks.  The only drink allowed to be served in limitless quantities without charge will be water. ‘It is the role of the law to establish a framework to protect the population against a trade-upmanship that tends to make the ‘free’ surplus of food supply… an argument to attract consumers and encourage them to excessive consumption which can be harmful to health,’ the government’s official nutrition organization said in a statement.”

http://dailycaller.com/2015/04/03/france-moves-to-ban-free-refills/

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Jeffrey Tucker: Is the Liberland Experiment Viable?

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“A three-mile area of land on the Danube river, uninhabited, was not under the control of any nation when Jedlička put up a flag, announced a constitution, and laid out the terms for a truly free society. He and his colleagues have sought international recognition, and the international press has been curious and generous.  Within 30 days following this announcement, governments adjacent to the property blocked access, Jedlička has been detained, and the prospects of a new nation coming into being suddenly look grim.  Absent outside political intervention, is it possible that Liberland can actually be a viable nation with a thriving economy? Absolutely.”

https://tucker.liberty.me/is-the-liberland-experiment-viable/

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Icelanders Demanding Up to 50% Pay Rise Show Crisis Ripples

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“Icelanders representing about one-third of the workforce are demanding pay rises as high as 50 percent in some industries, threatening to cripple the island’s recovery just as policy makers move closer to removing capital controls. The development is unsettling some of the island’s biggest businesses, who say industries will struggle to turn a profit.  Meanwhile, Iceland is struggling to unwind capital controls in place since its biggest banks defaulted on $85 billion in debt almost seven years ago. The central bank on May 13 warned that wage increases could jeopardize the process, which the government had hoped to push forward this year.”

http://www.bloomberg.com/news/articles/2015-05-18/icelanders-demanding-up-to-50-pay-rise-reveal-crisis-ripples

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‘High likelihood’ of Greek capital controls, bank deposit freeze: Moody’s

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“Moody’s Investor Service downgraded its outlook for the Greek banking system to negative from stable, which it said reflected: ‘the significant deterioration in banks’ funding and liquidity since December 2014, with deposit outflows estimated at more than 30 billion euros ($33.3 billion), or 18 percent of total deposits, over the past five months.’  These pressures are unlikely to ease over the next 12-18 months, Moody’s said, ‘and there is a high likelihood that capital controls and a deposit freeze will be imposed.’  The credit ratings agency said the negative outlook also took into account the downward revision of Moody’s 2015-16 GDP (gross domestic product) forecasts for the country.”

http://www.cnbc.com/id/102693901

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Bitcoin trading launches on Nasdaq Stockholm exchange

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“The world’s first bitcoin-based security available on a regulated exchange has launched on Sweden’s Nasdaq.  Bitcoin Tracker One, developed by Stockholm-based firm XBT Provider, is an Exchange Traded Note (ETN) that allows traders to invest in bitcoin and access the returns of the underlying asset in US dollar per bitcoin.  ‘We are proud to offer the world’s first ‘bitcoin tracker’ to be traded on a regulated exchange,’ said Alexander Marsh, CEO of XBT Provider after the tracker was authorised in April 2015.  Nasdaq OMX group announced last week that it will be using bitcoin’s underlying blockchain technology to facilitate the trading of shares on its US stock market.”

http://www.ibtimes.co.uk/bitcoin-trading-launches-nasdaq-stockholm-exchange-1501772

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These free market services show just how inefficient your government is

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“The private postal services that charge a premium to mail postcards for tourists in Venice are not the only examples of businesses helping to ease the pain of such bureaucracy taxes.  In war-torn Detroit, for instance, private police services have cropped up to help homeowners protect their property.  Detroit residents with something to protect can now band together and hire their own police service for the neighborhood, with the companies using that money to provide free services to poorer neighborhoods.  And in the even more bureaucratic France, surprisingly good private train companies have popped up to take people not just within France but to Germany, Austria, and elsewhere.”

http://nomadcapitalist.com/2015/05/11/free-market-inefficient-government/

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