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Neven said… He INSISTS on straight odds, and got rather testy with me when i suggested that meant he thought there was an even chance of breaking the record. Oh my, that’s very funny! :-D—This is very difficult
Please see Target2 and the ELA (Emergency Liquidity Assistance) program; Reader From Europe Asks "Can You Please Explain Target2?" for a more compete description. There is much misinformation floating around on how Target 2 works, what Germany’s liabilities are, so please click on the above link if you are interested in target 2 balances. The following chart from PIMCO article TARGET2: A Channel for Europe’s Capital Flight shows the capital flight through March
Link: Voters From Both Parties Overwhelmingly Support Big Defense Cuts
The higher the tax rate, the greater the length people will go to avoid it. France is a case in point. An ‘Exodus’ of Wealthy is underway even before French parliament has passed Hollande’s proposed top tax rate of 75%.
The medicine is killing the patient. Increasing the dose is madness. Greece outside the Eurozone may well provide an inspiration for Spain, Portugal, and many other countries.
Updates on Syria conflict + VoltaireNet’s June 2012 warning of vast NATO disinformation campaign now seemingly underway.
What Role Does Government Play in Price Inflation?
