German finmin Wolfgang Schaeuble rules out haircuts for eurozone governments that hold Greek...

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Venerability Comments (3051)
 
Ongoing brouhaha about Germany's Gold Reserves being loaned out and fractionalized and no longer where they should be - and trust me, as a scandal, this has LEGS! - is a potential big embarrassment for not only Jens Weidmann, a young (for Germany), "Ryanesque" figure previously at the IMF, but also has potential to embarrass both Schaeuble and Merkel and boost the chances of Peer Steinbrueck and the SPD in Germany's upcoming Election.

Despite what many here and at the Bubblevisions believe, 2013 could be the SPD's year. Coupled with an Obama victory, that could - scratch that, WOULD - mean Coordinated Worldwide Stimulus for several years to come - whether or not it pleases the Uber-Supply Siders.

(Also fabulous for the Monetary Metals, so if you "Austrians" are unhappy about other things, you'll have Gold at $2600 to comfort you - and my side, the "Gold is Growth" contingent, too.)
28 Oct 2012, 08:01 AM Reply Like

winningtrader Comments (2268)
 
No haircuts for Greece ... who cares ... Greece will not pay a penny back with or without haircuts. The whole think is ridiculous. I still think that Greece will be out of the EUR soon. Of course, financially they are finished and will not recover ever. The question is for how long the Germans will be happy to throw good money after bad. Well, before the US elections the talk will be positive - Obama has ordered Europe to behave. We'll see what happens after that. I suspect that things will get uglier then. Keep tuned.
28 Oct 2012, 06:07 PM Reply Like