Austrian Banks May Be Less Stable Than Their Figures Show
on Nov 16, 2009 in CEE crisis banks Austria All cannot be well in the Austrian banking sector despite opposite announcements from the banks themselves. Although Raiffeisen Zentralbank (RZB), Unicredit subsidiary Bank Austria and Erste Group reported operating profits in Q3 2009 only last week...

4 EU Countries Resist US Access on European Transaction Data
on Nov 12, 2009 in usa eu The most highly indebted nation in the world, the USA, is running into a bulwark of resistence in its strive to record European bank transaction data, Austrian daily Kurier reported on Thursday.According to the report the USA wants to access all mone...

Man Tries To Sell 1 Ounce Gold Coin for $50 - NO Takers
on Nov 11, 2009 in gold bull market I am a bit busy this week, attending 2 conferences which I will cover later. One concerned "Covering the Crisis" and the other one is about "Ways to a new financial order" organized by the Vienna Institute for International Dialogue and Cooperation I...

Money Creation Explained in 34 Seconds
on Nov 5, 2009 in fiat money Yeah folks, that's what central banks do.Hat tip goes to Burning Our Money.

EU Commission Asks Those Banksters who Caused Crisis for Solutions, Critics Say
on Nov 5, 2009 in crisis eu banks politics The EU Observer has come up with a very good question: Why are those who caused the financial crisis are now consulted by the EU Commission in order to come up with a solution? I may add the question: Why are the bonus-greedy destroyers of global pro...

ECB Does Nothing, Indicates Monetary Tightening
on Nov 5, 2009 in crisis ecb interest rates Leaving its key interest rate unchanged at 1% on Thursday, the European Central Bank (ECB) appears to remain in standby mode, keeping financial institutions flush with cheap liquidity. The only new twist in President Jean-Claude Trichet's repetitive...

Worldwide Income Tax Survey
on Nov 4, 2009 in tax This is a most useful piece of information for all restless Internationalistas who are looking for a tax friendly residence. KPMG has done a global survey on income taxes.As everybody's tax situation is different I recommend to download the whole PDF...

FOMC Statement: Fed on Autopilot, Will Reduce Buying Agency Paper
on Nov 4, 2009 in gold FRN Fed FOMC The Federal Reserve is set to continue its ZIRP (zero interest rate policy) until spring 2010. According to the statement released after the latest 2-day meeting of the Federal Open Market Committee (FOMC) the Fed kept its key interest rate unchanged...

IMF Sells 200 Tons of Gold to India for $6.7 Billion
on Nov 2, 2009 in India gold imf -- CORRECTED --The gold bull market becomes more interesting with every day. Based on disastrous economic fundamentals it now seems to be able to withstand hits of any size.In a surprising move the IMF announced on Tuesday (CET) that it had sold 200...

Dollar Danger: Iranian Oil Bourse Steps Up Activities
on Oct 30, 2009 in oil iranian oil bourse FRN As Obamacare dominates the American lamestream media, the fundamentallly most important news for oil and the dollar was to be found first in the Tehran News on October 27. The Iranian Oil Bourse was finally inaugurated last Monday, after such a state...