The Latest

Defiant Greeks Contemplate Drastic Actions——Nationalization Of Banks And Printing Euro Notes W/O ECB Approval

Hardliners within the party – though not Mr Varoufakis – are demanding the head of governor Stournaras, a holdover appointee from the past conservative government.

They want a new team installed, one that is willing to draw on the central bank’s secret reserves, and to take the provocative step in extremis of creating euros.

Greece Calls Europe’s Bluff

The analysts streaming across my screen last week all had the same opinion – Greece will vote yes, accept Europe’s terms and stay in the Euro. Well, as I write this, the early polls prove, if nothing else, that one should beware of experts bearing consensus opinions. According to the headlines at all the major…

Demonizing Iran: The Neocon Litany Of Exaggerations, Half-Truths, Innuendoes, Insinuations And Lies

Right after the announcement of the Accord, the opposition went to work. Two days after the announcement Bill Kristol, the Godfather and “little Lenin” of the necons, declared that the best way of defeating the efforts of the Obama administration is creating the conditions that would kill the nuclear accord, forcing the President not to sign any agreement.

Fed’s Full Normalization——It Will Pulverize The Casino

The inflection points in interest rates and money supplies driven by the advent of ZIRP and QE are just massive beyond belief. Short rates totally collapsed near zero, and the Fed’s balance sheet skyrocketed into the stratosphere. The most extreme monetary policies in US history aren’t going to normalize easily. And this process is going to cause great financial pain as stock and bond markets are forced to mean revert lower.

Contra Club

Greece Calls Europe’s Bluff

The analysts streaming across my screen last week all had the same opinion – Greece will vote yes, accept Europe’s terms and stay in the Euro. Well, as I write this, the early polls prove, if nothing else, that one should beware of experts bearing consensus opinions. According to the headlines at all the major…

Contra News & Views

Defiant Greeks Contemplate Drastic Actions——Nationalization Of Banks And Printing Euro Notes W/O ECB Approval

Hardliners within the party – though not Mr Varoufakis – are demanding the head of governor Stournaras, a holdover appointee from the past conservative government.

They want a new team installed, one that is willing to draw on the central bank’s secret reserves, and to take the provocative step in extremis of creating euros.