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Most business owners, employees, the unemployed and even civil servants in this country are wondering how long this crisis will last – this ordeal for the welfare state that is taking such a severe and persistent toll on household and business finances. But I fear that the answer does not match the hopes of the Spanish people. (more…)
Muchos analistas especializados en metales preciosos y otros tipos de activos, están advirtiendo del valor que pueden adquirir en el futuro el oro y sobre todo la plata. Argumentan que en el caso de la plata la escasez mundial de dicho metal hace que tan sólo existan extraídos unos 7 gramos por habitante del planeta. Escasa realmente, si lo contemplamos como un bien al que anclar el dinero en un futuro próximo.

«First and foremost, it is only fair to say that the announcement of unlimited purchases of distressed debt (UNWTO) by the ECB on the secondary market, whilst the ESM It is being implemented at primary level; it is the most decisive, consensual and coordinated measure put into practice to date.
Whether it is because the measures taken to date have been cowardly and futile, or because this time the person taking them is not a politician fearful of the ballot box but a financial technocrat who has been weaned on Goldman Sachs, such as the President of the ECB. The point is that we are facing the most far-reaching decision in years – which, admittedly, is not saying much. But let’s look a little beyond the newspaper headlines and the politically correct arguments.» Read the full article.

It has been easy over the last two or three years to criticise Zapatero’s failings, as these were numerous and impossible to hide: an inability to understand and manage the economic situation, populist demagoguery, erratic financial policy, a refusal to change course and a lack of courage to reform labour policy, and a very long list of other failings that have led us to the critical situation we are all familiar with. (more…)

Below, we’ll share some thoughts taken from and freely translated from a letter published by Eric Sprott, a prestigious asset manager specialising in precious metals, inZerohedge.com. In the letter, he speaks openly about the lies of politics, citing various examples involving Mariano Rajoy. Mr Sprott never minces his words. At the end of the article, you will find some of our own thoughts on the matter:
The President of the Eurogroup, Jean-Claude Juncker, said in April 2011 at a conference in Brussels: “When things get tough, you have to lie“He was presumably referring to situations where one must avoid giving the markets any hints so that the measures taken are effective. This argument is reasonable, but it is nonetheless surprising that such a high-ranking European official would publicly admit to doing so systematically. After all, our leaders are not supposed to lie, especially when things get really serious or ugly. READ MORE
If there is one silver lining to the current extreme market volatility, it is that it will hasten the Eurozone’s demise and put an end to this political and economic agony. This is the moment when Germany must choose whether to take the path of assuming the debts and economic instability of the periphery, or, on the contrary, to jump off the bandwagon. And should it decide not to continue sharing this burden, it could also choose to uncouple carriages rather than jumping off itself. I hope you enjoy the article we’ve published on GurusBlog: «The End of the Countdown«
Following the bailout of Spain, Germany is now approaching the moment it has been desperately trying to avoid since the start of the crisis: making an irreversible decision regarding its future within the Eurozone and/or the future of the Eurozone itself. Don’t miss our latest article published on GurusBlog: «Germany at a crossroads, at last.«
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Torres Sarrià, Carrer de Can Ràbia, 3-5, 4ª Planta BCN 08017
Pº de la Castellana, 93 2nd floor MADRID 28046
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