Gold hits a record price in Euro

Gold has hit a new historical record in Euro. The price of 1380 Euros per ounce marks the accelerating inflation in EU. Officially the price index is at 2,7% level. But Gold has gone more than 10% up for a year that is much more realistic indicator for the inflation. Statistics administrations in all EU are government dependent and obviously are part of the strategy to allow money print in an effort to fight the debt crisis. With 2% inflation limit and 2,7% official inflation, ECB is in break of its own rules. But if the inflation reaches 5% or the measured by Gold price level of over 10%, then the ECB will be simply blocked of ability to react. Inflation fears will end the low-interest era and bond-buying programs. That is why it is incredible to believe that any statistics administration will recognize the real inflation.


A new housing bubble initiated

A new real estate and mortgage bubble is on the way, fueled by the record FED's money print and low interest rates. The steep increase in refinancing operations looks good for home owners as they will pay less in future for their loans. In a short time period this looks as a successful policy. But low interests are not only for refinancing operations, but also for new loans and for money used for other purchases. If you have $1000 for a monthly payment on mortgage, when the interest falls you will be able to buy a more expensive house. This will pump the home prices up. I.e. a new bubble will start.


2400 millionaires with social payments

According to a congressional repost, about 2400 millionaires have received some type of social payments - mostly unemployment benefits. As expected the lawmakers are angry and are trying to pass amendments to stop this funny practice. But it is just the tip of the iceberg. The so called "welfare state" is the real part of the iceberg. The welfare state is a social absurd that is hopelessly and non-recoverably doomed to be robbed. That is just a system that invites the robbers.


Greece is trying to build the fastest way to Hell... :)))

The news that Greece is unblocking nearly 30 million Euros ($40 million) to subsidize the building of a Formula 1 track came just at the time when EU creditors and Government are in hard negotiations where to cut from another 13 billion Euros of budget expenses. While pensioners are crying of their lower and lower pensions and trade unions are striking every day, the Government decided to spend millions on a project that is not only super-expensive, but is also guaranteed as non-profitable.


Will The Wehrmacht follow to guard the German pensioners in Greece... :)))

An army of German pensioners will go to Greece to establish there a working tax-system. The idea comes from the IMF and some such experts are already in Athens.


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