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G0ldfinger

HYPERINFLATION

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NO BACKBONE !

 

 

German court backs eurozone's ESM bailout fund

 

_62841181_judgesafp.jpg

Observers believe the judges may tie the hands of the government in future

==

 

Germany's top court has rejected calls to block the permanent eurozone rescue fund - the European Stability Mechanism (ESM) - and the European fiscal treaty.

But the Constitutional Court imposed conditions including a cap on Germany's contribution, which it said could only be overruled by the German parliament.

The euro rose in value as the markets reacted with relief to the decision.

Critics had argued that the ESM commits Germany to potentially unlimited funding of debt-ridden eurozone states.

Some 37,000 people had signed a petition to the court asking it to block the ESM, and make it subject to a referendum.

 

CAP

 

The court said any future increase in the size of the 500bn-euro (£400bn) fund, or of Germany's contribution, could only be permitted with the express agreement of Germany's parliament.

 

The decision clears the way for Germany's President, Joachim Gauck, to sign the ESM into law.

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Good website. To be honest that looks like the US CPI is a fairly good tracker of prices with admittedly a three to six month lag. Will be interesting to see if it makes up that gap in the next six months.

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"Kyle Bass giving Japan lovers some food for thought. Wouldn't it be ironic, if Japan,

the poster child of the deflationistas, went over the hyperinflation edge first?"

Thanks, GF

Kyle Bass is always interest /

 

Bass talks about:

Lower global growth.

Yield compression... with negative nominal rates possible in the US.

"We own sub-prime bonds, and self-liquidating credit"

 

Japan has "crossed the Rubicon" - deteriorating balance of trade.

And it will get worse: "full current account negative balance in October."

They have to change the way the manage their currency.

They are entering the "checkmate phase."

All the ingredients are there for a massive devaluation in the Yen

 

FXY / Yen etf ... update

 

fxy.gif

 

The support around $115-117 looks very, very important

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Nope. And the pumping is about to begin to get beyond silly. So what next?

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http://www.zerohedge.com/news/2016-01-29/helicopter-money-arrives-switzerland-hand-out-2500-monthly-all-citizens

 

Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens

 

Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month, with authorities insisting that people will still want to find a job.

 

The federal government estimates the cost of the proposal at 208 billion francs ($215 billion) a year.

That is 30% of GDP!!!

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http://www.zerohedge.com/news/2016-01-29/helicopter-money-arrives-switzerland-hand-out-2500-monthly-all-citizens

 

Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens

 

Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month, with authorities insisting that people will still want to find a job.

 

The federal government estimates the cost of the proposal at 208 billion francs ($215 billion) a year.

That is 30% of GDP!!!

 

 

 

The plan, as The Daily Mail reports, proposed by a group of intellectuals, could make the country the first in the world to pay all of its citizens a monthly basic income regardless if they work or not.

 

Pretty sure most of the middle east "oil rich" countries already do this.

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