Currently viewing the tag: "EMU debt crisis"

On 7th May, Detlev appeared on RT – the Keiser Report to discuss ECB policy, and the gold battle between Chinese housewives and Wall Street.  

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Under President Obama the debt of the United States government has grown by about 50%, and now stands at close to $16 trillion. Every year, the US government spends between $1.2 and $1.5 trillion more than it takes in. Every day that financial markets are open the US government has to borrow an additional $4 […]

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Excerpt from The Keiser Report (E346) with Max Keiser and Stacy Herbert on which Detlev appeared on September 27th. “Max talks to Detlev Schlichter, author of Paper Money Collapse about quantitative easing to infinity, Central Banking ‘devils’ and the future for the gold standard.”

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In a truly remarkable piece for the Financial Times yesterday, Wolfgang Münchau took another swipe at the Euro-sceptic and ECB-critical community in Germany, which he accuses of inflation-paranoia and of simply not getting ‘modern central banking’. Well, I know of many qualified commentators – many non-German – who swallow a tad harder when reflecting on […]

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Yesterday, the ECB pronounced itself the official lender-of-last resort to all Euro-Zone governments. To assure that the state can always borrow at conveniently low rates has been declared an essential component of ‘maintaining financial stability’ and thus a standard plank of modern central banking. Despite all their professed differences and divergent legal frameworks, all major […]

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On August 15, 1971, President Richard Nixon declared that the United States would no longer honour its promise to exchange US dollars held by foreign central banks for gold at a fixed price of $35 an ounce. The innocuous term ‘Nixon closed the gold window’ that is now widely used to describe this act does […]

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Last week, the Deutsches Institut für Wirtschaftsforschung (DIW), or German Institute for Economic Research, an influential think tank, proposed an ingenious solution to the Euro Zone debt crisis. The German government should issue a Zwangsanleihe, a compulsory bond that every German with savings of EUR250,000 or more should be compelled to underwrite with 10 percent […]

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On page two of today’s Wall Street Journal Europe you will find the result of a readers’ poll from last Friday: Question: Will the ECB’s rate cut help restore confidence in the bloc’s economy? Answer: 81 percent of readers say no, 19 percent yes. Last week’s round of global monetary easing – another ECB rate […]

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On Tuesday, July 3, London business paper City A.M. ran an editorial I wrote on Germany. The text is below. In the present debate on the Euro crisis, Germany is frequently portrayed as a model of economic strength, a beacon of fiscal prudence and a proponent of structural reform. Her resources seem endless and her […]

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In my view, there is no escaping the fact that things are not getting better. If anything, they are getting worse. Following the large swings in financial markets this past week and reading the commentary in the press, it strikes me that there is still a surprisingly strong belief out there that our fate is […]

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