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CoCo bonds, debt for equity swaps, and now Italy’s Monte Dei Paschi bank is having to sell shares to avoid insolvency

As the new market week begins over in Asia and Europe, Italy's insolvent banking system continues to spiral downward.  And where last week the world's oldest bank was trying to convince 2nd tier debt holders to exchange their bonds for equity in the bank, on Dec. 19 Monte Dei Paschi is preparing to push their share price down even further by issuing and selling new shares to try to completely avoid bankrupt ...

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Is Italian bank Monte Die Paschi issung a voluntary debt to equity swap for their CoCo bonds?

Ever since the 2008 global financial crisis, banks and central banks have implemented several new and some would say insane monetary instruments to try to both keep the system afloat, and also to allow banks from having to stop the financial schemes which helped create the crisis in the first place.  From negative interest rates, direct monetization of debt, and even talk of banning cash, the processes inst ...

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Dollar soars to 14 year high following the Fed’s rate hike as the Euro is now just 400 bps from parity

On Dec. 15 the dollar took another leg up to cross 103 on the index, securing its highest level in 14 years.  And this move comes one day after the Federal Reserve hiked the Fed funds rate by .25 bps for only the second time in the last decade. The dollar had actually been below 101 prior to yesterday's Fed announcement and has risen over 300 bps in less than 24 hours.  And this rapid move has now caused th ...

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Nobel prize winning economist joins Euro architect in declaring the currency a mistake and failure

On Dec. 12, Nobel Prize-winning economist Oliver Hart told European media source Euractiv that the Euro currency, as well as forcing 28 different homogeneous states into a centralized union, was a mistake and that the only real solution was to get rid of the currency and move authority out of Brussels and back to their original sovereigns. The foundation behind Britain's regaining of their sovereign power f ...

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Italy not only seeks to end sanctions with Russia but they are also pursuing economic ties with the EEU

With the Italian Referendum and resignation of Premier Matteo Renzi now a done deal as of last week, the real battle for Italy's future is about to begin.  And besides the potential for a complete ideological shift in who takes over the government in the coming months, one area that remains uncertain is what will Italy do regarding their economy, their use of the Euro currency, and their future standing in ...

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Gold spread between London and Shanghai continues to grow as last night’s difference was $32

Ever since bullion banks and hedge funds dumped the equivalent of the entire 'stated' amount of gold held in the NY Fed (formerly Fort Knox) over the course of three days following the election of Donald Trump, the physical gold market out of Shanghai has begun to diverge from the long-standing spot price set each day in London and the Comex.  And over the course of a month, the spread between the London da ...

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German finance minister Schauble seeks to save EU by demanding Italy and Greece continue austerity or leave EU

Now that the people of Italy have spoken through their rejection of a national referendum to restructure the government on Monday, the rest of the European Union is on high alert for what could be the next Exit event from the coalition.  And while it appears that the European Central Bank (ECB) earlier today followed the Fed's lead in bailing out and backstopping negative markets as was done following the e ...

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Italy votes no: Referendum vote leads to Renzi resignation and the Eurozone on edge regarding the future of the coalition

Just as June 23 went down in history as a red letter day for 2017, so too is Dec. 4 a pivot point for both Italy and the European Union.  This is because the people of the Southern European nation chose to vote against a constitutional restructuring of their government, and it now starts in motion several new events that could lead to a banking collapse, a discarding of the Euro currency, and the beginning ...

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Deutsche Bank settles on gold manipulation case which now opens door for investors to sue other banks for fraud

Despite thousands of hours of investigations, and a mountain of evidence compiled by organizations such as GATA, one major bullion bank has finally been convicted of rigging the precious metal markets. On Dec. 2, Germany's Deutsche Bank finally settled on a $60 million agreement to pay investors financially wronged from their actions in manipulating gold prices in the commodity markets.  This settlement com ...

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It’s beginning to look alot like 2007 as subprime loan defaults, massive consumer debt, and housing sales mirror start of bubble crash

Over the past seven to eight years, interest rates have been a major factor in allowing consumers, investors, and the government to expand credit to historic levels.  In fact, the government had not been above 100% of debt to GDP since the credit expansion that was needed to fight during World War II. But the problem with debt is that a day of reckoning always comes due at some point.  And just like it did ...

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UK’s ‘Warren Buffet’ predicts the end of the euro currency

Billionaire Jim Mellon is considered by some to be the UK's 'Warren Buffet' of finance and investing, and has a pretty good track record of prognostications for economic events.  In 2008 he correctly forecast the Great Recession, and earlier this year he backed voters (Although he thought it would fail) in choosing a YES vote for Britain to leave the Eurozone. And now on Nov. 28 Mellon is forecasting the en ...

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French bank believes dollar will be at par with Euro soon as conversion hits 105 handle on Nov. 23

On Nov. 22, France's third largest bank Societe Generale announced that they believe the dollar will soon be at par with the Euro currency, and quite possibly as early as April of 2017 when French elections are scheduled to take place. Over the past two and a half years the Euro has fallen from 1.38 to the dollar back in April of 2014 to an inter-day low below 1.05 in early 2015.  It then rebounded back ove ...

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