Hard hitting global and local news
Link if video does not play Faber: Gold Isn’t Down as Much as Apple . Marc Faber on Bloomberg TV on the Fall in Gold Prices "I love the markets
ECB President Mario Draghi says Any Cyprus Gold Sale Must Cover Emergency-Loan Loss European Central Bank President Mario Draghi said the profits of any gold sales by the Cypriot central bank must be used to cover losses it may sustain from emergency loans to Cypriot commercial banks. European creditors today left a possible gold sale in the hands of the Cypriot central bank, which manages 13.9 metric tons of the metal, according to the World Gold Council.“The decision is going to be taken by the central bank,†Draghi said after a meeting of euro-area finance officials in Dublin. “What’s important, however, is that what is being transferred to the government budget out of the profits made out of the sales of gold should cover first and foremost any potential loss that the central bank might have from its ELA.†ELA stands for Emergency Liquidity Assistance, a lifeline that can be offered by national central banks in the euro region to commercial banks that can’t get funding.
NYT admits fraudulent Syrian human rights group is UK-based “one-man band” funded by EU and one other “European country.” April 12, 2013 (LD) – In reality, the Syrian Observatory for Human Rights has long ago been exposed as an absurd propaganda front operated by Rami Abdul Rahman out of his house in England’s countryside.
Chicago Natural Resources Expo April 26 Those in the greater Chicago area should plan on attending the Chicago Natural Resources Expo on April 26 for a discussion about gold, silver, hard assets, inflation, currencies (or whatever else is on your mind). You also have the opportunity to meet with various natural resource company executives. Venue change: Previously this was a Friday evening-Saturday Afternoon event.
See the article here: Eurointelligence Founder Wolfgang Münchau, Once a Staunch Euro Supporter, Now Welcomes the Anti-Euro Party "Alternative for…
In another interview from the Wine Country Conference, Chris Martenson says S&P 500 May Fall More Than 40% By Fall . Even though the S&P 500 and Dow Jones Industrial Average are hovering at all-time highs, Chris Martenson, author of PeakProsperity.com and the “Crash Course” Series, is forecasting a major market correction
Whether out of complete stupidity or pressure from the IMF or Brussels (I suspect all three) Cyprus to sell around 400 mln euros worth of gold to partially fund its bailout. Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance its part of its bailout, an assessment of Cypriot financing needs prepared by the European Commission showed.
Slovenia Rules Out Bailout; Translation: "Slovenia Bailout Coming Right Up" An official denial is in: Slovenia Rules Out Bailout . Here is my interpretation: "A bailout is already in the works, only the date of the announcement is uncertain".
View article: Germany’s Net Foreign Assets Exceed €1 Trillion; 10 Compete Failures of the Eurozone
Portugal’s Constitutional Court has ruled several key articles of the 2013 state budget unconstitutional.