The Amphora Report’s 2010 Topics in Review (4 of 4)

[Introduction below, and then continuing from Part 3.]

In 14 editions of the Amphora Report this year we have covered nearly 30 topics, many of which overlap in some way. What binds them all into a coherent set is our view that the economic policies being implemented in nearly all major countries are not just unsustainable but in some cases outright reckless. These countries include the US, the issuer of the world’s reserve currency. By implication, the dollar is likely to lose its pre-eminent reserve currency status in the coming years. The result is bound to be a period of global economic and financial market turmoil and, for most if not all traditional financial assets, underperformance in real, purchasing-power adjusted terms. What follows below is a list of all topics, including both a brief summary and an update of our thinking for 2011.

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The Amphora Report’s 2010 Topics in Review (3 of 4)

[Introduction below, and then continuing from Part 2.]

In 14 editions of the Amphora Report this year we have covered nearly 30 topics, many of which overlap in some way. What binds them all into a coherent set is our view that the economic policies being implemented in nearly all major countries are not just unsustainable but in some cases outright reckless. These countries include the US, the issuer of the world’s reserve currency. By implication, the dollar is likely to lose its pre-eminent reserve currency status in the coming years. The result is bound to be a period of global economic and financial market turmoil and, for most if not all traditional financial assets, underperformance in real, purchasing-power adjusted terms. What follows below is a list of all topics, including both a brief summary and an update of our thinking for 2011.

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The Amphora Report’s 2010 Topics in Review (2 of 4)

[Continued from Part 1.]

In 14 editions of the Amphora Report this year we have covered nearly 30 topics, many of which overlap in some way. What binds them all into a coherent set is our view that the economic policies being implemented in nearly all major countries are not just unsustainable but in some cases outright reckless. These countries include the US, the issuer of the world’s reserve currency. By implication, the dollar is likely to lose its pre-eminent reserve currency status in the coming years. The result is bound to be a period of global economic and financial market turmoil and, for most if not all traditional financial assets, underperformance in real, purchasing-power adjusted terms. What follows below is a list of all topics, including both a brief summary and an update of our thinking for 2011.

[Read more...]



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The Amphora Report’s 2010 Topics in Review (1 of 4)

In 14 editions of the Amphora Report this year we have covered nearly 30 topics, many of which overlap in some way. What binds them all into a coherent set is our view that the economic policies being implemented in nearly all major countries are not just unsustainable but in some cases outright reckless. These countries include the US, the issuer of the world’s reserve currency. By implication, the dollar is likely to lose its pre-eminent reserve currency status in the coming years. The result is bound to be a period of global economic and financial market turmoil and, for most if not all traditional financial assets, underperformance in real, purchasing-power adjusted terms. What follows below is a list of all topics, including both a brief summary and an update of our thinking for 2011.

[Read more...]



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More Rampant BIS Gold Swap Speculation

Not one to let a sleeping dog lie, today we’ve encountered a new explanation for the mysterious Bank of International Settlements’ 380 tonnes in gold swap operations. Before this week, James Turk, co-author of The Collapse of the Dollar, had yet to voice a theory on the swap. However, after learning Portugal is taking an unusual step (as a sovereign borrower) — of setting aside assets as collateral against derivative transactions in order to bring down its funding costs — Turk couldn’t resist sharing his hunch.

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UK Research Center Tells Greece to Quit the Euro

Despite new austerity measures and a nearly trillion dollar eurozone rescue package, a UK research center is proclaiming that Greece’s days using the euro are numbered. The Centre for Economics and Business Research says it’s only a matter of time before Greece must abandon the euro and default on the roughly €300 billion it has racked up in debt.

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Weakest EU Nations Trying Out a New Look

Greece may have been the first caught out in the cold… and wearing the skimpiest outfit… but a range of countries on the periphery of the European Union are looking more than a little threadbare.

If the rest of the troubled nations find themselves also in need of a new pair of shoes there may be no more handouts left to give. Perhaps the markets will get a chance to sort out the matter.

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Secretary General of OECD: Greek Contagion Already “Like Ebola”

Since Greece’s 2-year debt hit a new record-high yield of 26 percent stock markets around the world have been struggling. Likewise, the euro, now at about $1.3213, recently had its worse one-day decline against the dollar in about 12 months.

How bad is it really? According to Bloomberg:

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How Your US Taxes Could be Bailing out Greece

It sounds far-fetched but, as Dr. Ron Paul highlights in his weekly column, Americans have no insight into the operations of the Federal Reserve. Therefore, the Fed can covertly funnel US funds to wherever it decides. This could include, for example, Greece, as it inches ever closer to default.

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Roubini on the Massive Debts of the Wealthiest Nations

Government debt continues to be one of the most written about topics of 2010… and for good reason. The most developed and wealthy economies can’t seem to refrain from spawning the extraordinary levels of debt that were historically seen only in emerging markets (which for the most part, seem to have improved their balance sheets).

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