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The destruction of the European banking sector

For some reason, the dire situation of European banks is not causing further alarm. This is strange, as it is the exact place where the new global banking crisis is likely to start.

What makes it even stranger is that recession is approaching the …

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Crisis Preparation II: The Eurozone

The European Monetary Union (EMU) has been a bold, but fundamental flawed experiment. It has sown the seeds of divergence in economic well-being, politics and it has “zombified” the banking sector in Europe. For investors, it has created the possibil…

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Don’t trust the liquidity

There is renewed hope in the markets after central banks, most-recently the ECB and China, have added easing measures. The working narrative is that these will, once again, renew global growth and allow governments, corporations and consumers to go e…

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Will central banks survive?

Almost all economists and the vast majority of the general population erroneously believe that central banks are, basically, indestructible. And most fail to appreciate that central banks are different from normal commercial banks in just two respect…

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