Schizophrenia: Bernanke (Stay Calm) vs. ECB (Panic)

Written by Gary North on March 1, 2012

On February 29, Bernanke gave a soothing presentation to a House committee. The stock market dropped a little. Gold and silver dropped like a stone. The media focused on Bernanke’s hint that QE3 will not be necessary, that economic growth is slow. Conclusion: monetary stability. At the same time, the European Central Bank injected $712 […]

Continue reading →

Europe’s Banking Crisis Hammers All Markets, Even Gold

Written by Gary North on December 13, 2011

The London Telegraph ran a story in the imminent collapse of Europe’s banking system. Senior analysts and traders warned of impending bank failures as a summit intended to solve the European crisis failed to deliver a solution that eased concerns over bank funding. The European Central Bank admitted it had held meetings about providing emergency […]

Continue reading →

Europe’s Game of Chicken Will Hit the U.S.

Written by Gary North on November 28, 2011

We know about the game of chicken. Teenage boys in hot rods drive toward each other to see who will swerve first: “Chicken!” It is happening in Europe. There is going to be a crash. That crash will lead to an explosion, which will be felt in the USA. The credit markets are intertwined. This […]

Continue reading →