“While gold prices are driven by many factors, investors showed high demand for gold as a safe-haven asset and, at the beginning of 2025, a notable preference for gold futures contracts to be settled physically (…) Should extreme events materialise, there could be adverse effects on financial stability arising from gold markets (…) Margin calls and the unwinding of leveraged positions could lead to liquidity stress among market participants, potentially propagating the shock through the wider financial system. Additionally, disruptions in the physical gold market could increase the risk of a squeeze. In this case, market participants could be subject to significant margin calls and/or have trouble sourcing and transporting appropriate physical gold for delivery in derivatives contracts, leaving themselves exposed to potentially large losses.” ECB, Financial Stability Review, May 2025 [Read more...]
Zitat
“Wirtschaft verlangsamen, um Hyperinflation zu verhindern”, Zitat
“As paradoxical as it may sound, the ongoing economic slowdown of the United States is not the painful yet necessary short-term side effect of Trump’s tariffs, but rather its goal. Collateral damage is the intended outcome (…) It is much less about reshoring manufacturing than feeding the credit addiction of financial capital (…) Real demand must be methodically suppressed, for if even a fraction of the ocean of credit that has been pumped into the financial sphere were allowed to ‘come down to earth’, society would be hit by wave after wave of hyperinflation.” Fabio Vighi, “Trumps tariffs: Everything you wanted to know about them, but were afraid to ask the bond market”, The Philosophical Salon, 26.5.2025 [Read more...]
Über Aufschuldung und das Ende der “Modernität” – Zitat des Tages
“We did not, of course, need to be in this position. There was no absolute necessity to bail out speculative excesses in 2008-09, to create runaway asset price inflation by keeping the cost of capital at low or negative real levels, or to allow the complexification of the financial system to procede to a point at which macroprudential management became, to all intents and purposes, impossible. But a combination of three factors – wilful denial, extreme short-termism and a concentration on the preferences of vocal interest groups – has ensured that we will experience a sudden, rather than a gradual, ending of what currently passes for modernity.” Tim Morgan, #302: At the end of modernity, part one, 5.5.2025 [Read more...]
US-Staatsinsolvenz ‘wahres Motiv’, nicht die Zölle – Zitat des Tages
“Das eigentliche Thema ist, dass Amerika eben doch auch Schwierigkeiten hat, sich überhaupt zu finanzieren (…) Was (Trump-Berater Miran) also erwägt, das kommt einer Insolvenz schon nahe (…) Also das ist jetzt auf dem Tisch, dieses Thema. Und das ist das Thema. Das ist das Thema, nicht die Zölle. Die ganzen Investmentgesellschaften, die Wall Street und so weiter diskutiert das. Das Zolltheater dient nur der Erpressung anderer Länder (…)” Prof. Dr. Hans-Werner Sinn: Trump und die Zerstörung der internationalen Handelsordnung, Mitte April, via YT [Read more...]
Energie, Zölle & die Dämonisierung Trumps – Zitat des Tages
“No one wants to mention that the world has a terrible energy problem. The only solution is to cut back on globalization. The tariffs are a way of doing this. The highest tariffs are on the most distant sources of imports. Also, a 25% tariff on cars will tend to reduce automobile usage. Autos use gasoline, which is a type of oil, leaving more for other uses.° Gail Tverberg in ihrem eigenen Blog (Posting vom 11.4. 2025 um 6.05 pm) [Read more...]
Die “Wiesbadener Partnerschaft” im Ukraine-Krieg – Zitat des Tages
“The passengers were top Ukrainian generals. Their destination was Clay Kaserne, the headquarters of U.S. Army Europe and Africa in Wiesbaden, Germany. Their mission was to help forge what would become one of the most closely guarded secrets of the war in Ukraine (…) Then he (the Ukrainian Lieutenant General Zabrodskyi) was ushered into the office of Lt. Gen. Christopher T. Donahue, commander of the 18th Airborne Corps, who proposed a partnership. Its evolution and inner workings visible to only a small circle of American and allied officials, that partnership of intelligence, strategy, planning and technology would become the secret weapon in what the Biden administration framed as its effort to both rescue Ukraine and protect the threatened post-World War II order.” New York Times, The Partnership: The Secret History of the War in Ukraine, 30.3. 2025 [Read more...]
Energiewende: JPM zu mickrigem Solar-Anteil an Endenergie – Zitat
“As a result, when you boil it all down, solar power accounts for ~2% of global final energy consumption, a figure we expect to reach 4.5% by 2027. Even if these solar trends continue into the 2030’s, human prosperity will be inextricably linked to affordable natural gas and other fossil fuels for many years. Human prosperity, in places where it thrives, relies heavily on steel, cement, ammonia/fertilizer, plastics, glass, chemicals and other industrial products which are energy-intensive to produce.” J.P. Morgan, Michael Cembalest, Heliocentrism.Objects may be further away than they appear, März 2025 [Read more...]
Wir Euros zuerst! Schuldenbremse und Notfälle – Zitat des Tages
“Die im Augenblick noch im (deutschen) Grundgesetz enthaltene Schuldenbremse (…) steht einer neuen Zeit im Wege, von deren Kommen die Parlamentarier des Jahres 2009 nichts ahnen konnten (…) Alle anderen verlieren nichts, denn die Finanzbremse versagte bereits im Jahr ihres Inkrafttretens 2011 zum ersten Mal. Es war Finanzkrise! Notfall! Danach kam Corona. Notfall! Schließlich das Klima und der Klimafonds! Notfall! Richtig durchregieren lässt sich erst (…), wenn Not kein Gebot mehr kennt und der Staat als weißer Ritter einreitet, um Geld auf die Wunden zu streuen. Das größte Verschuldungsprogramm, das sich jemals eine Bundesregierung hat gestatten lassen, hat als Begründung eine Lage vorzubringen, die sich bereits wieder geändert hat. Schneller als Deutschland und Europa zu ihren eiligen Krisengipfeln marschieren können, zieht der böse Mann im Weißen Haus die Daumenschrauben an.” Politplatschquatsch, Das zahlt der Staat: Mit dem Geld von Morgen, 6.3.2025
Dichte Energie und der Untergang des Dollarimperiums, Zitat d. Tages
“Donald Trump and the Department of Government Efficiency seem to be part of the (unfortunately) necessary downshift in the size of the economy. As awful as it is, something of this sort seems to be necessary, if the US government (and governments elsewhere) have greatly overpromised on what goods and services they can provide in the future (…) In any event, these changes cannot take place simply because of the ideas of a particular leader, or group of leaders. There is a physics problem underlying the changes we are experiencing.” Gail Tverberg, Energy limits are forcing the economy to contract, 4.3.2025 [Read more...]
D/USA: “Wahleinmischung” auf zweierlei Art – Zitat des Tages
“So wie das in unfassbarer Weise ja auch der neue US-Vizepräsident JD Vance bei der Sicherheitskonferenz in München (…) empfohlen und den Europäern vorgeworfen hat, sie würden (die) Meinungsfreiheit nicht akzeptieren. Die deutschen Gastgeber haben entrüstet reagiert. Der deutsche Bundeskanzler ließ reflexartig verlauten, er verbitte sich eine Einmischung in die deutsche Wahl.Wie aufrichtig dieses Verbot der Einmischung in die Innenpolitik eines anderen Landes gemeint ist, sieht man an zahlreichen Beispielen in die andere Richtung – etwa an diesem Posting des SPD-Vorsitzenden Lars Klingbeil vom vergangenen Sommer
(Einblendung Screenshot einer Werbung für die ARD-Audiothek vom 20.8.2024: “SPD-Chef Klingbeil: ‘Wir wollen Kamala Harris im Weißen Haus’)” Wer will bitte Frieden? | Der Wegscheider, ServusTV On [Read more...]
UA/EU:’Weder NATO-Mitgliedschaft, noch Grenzen v. 2014 realistisch’
“Ich möchte ganz klar etwas sagen in Bezug auf die NATO Mitgliedschaft (der Ukraine), dass es (diese) nicht realistisch ist (…) Aber Realismus wie z.B dass die Grenzen (der Ukraine) wieder dem Stand von 2014 entsprechen, das ist ja kein Zugeständnis für Wladimir Putin, das ist eine Anerkennung der Realien (Realitäten) vor Ort.” Treffen der NATO-Verteidigungsminister: Pressekonferenz von (US-Verteidigungsminister) Pete Hegseth (in München), 13.02.25, Simultanübersetzung, via YT [Read more...]
USA: Ein Medienskandal um USAID
“It creates a false sense of reality. If you pay every news outlet to say the same thing and that thing is a lie, it’s disinformation. It’s a false sense of reality, because it seems like it’s true.” Daniel McAdams, RonPaulLibertyReport, Is There Any Media That USAID Did NOT Fund?, via YT [Read more...]
Monetäre Illusion – Zitat d. Tages
“The best example of monetary illusion happened in 2024 when all major equity markets in the world recorded positive performance in their local currency while it is clear to anyone who can understand that these returns was only illusions as when measured in gold terms, these performances were negative (…) As January 2025 is now in the history books, media highlights the apparent strength of European equity markets, with the UK FTSE hitting new highs in local currency. However, measuring performance in local currencies is misleading. To accurately gauge market performance, returns should be assessed in a common currency, such as the US dollar or gold, which accounts for global value and strips away distortions like currency fluctuations and inflation. Without this perspective, nominal gains can create an illusion of prosperity, masking the true international value of investments.” The Macro Butler, Monetary Illusion, ZH,1.2.2025
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Erdgas, “die andere Seite”: Der Monopolist wankt – Zitat des Tages
“Russian gas giant Gazprom, squeezed by plunging sales abroad as the Ukraine conflict prompts European buyers to turn away, is seeking to raise regulated prices at home to fund investment, Interfax news agency reported on Thursday (…) At home, Russia’s domestic gas prices are regulated by the government. ‘The current level of regulated wholesale gas prices does not ensure the formation of financial resources in amounts sufficient to make the necessary capital investments in the maintenance and development of gas infrastructure in the interests of Russian consumers,’ (!) Interfax cited Alexei Sakharov, a Gazprom senior manager (…), (s)peaking at a parliamentary panel of experts.” Reuters, Gazprom seeks to raise Russia’s domestic gas prices, Interfax reports, 23.1.2025 NB zu Peak Oil und “Kalter Kriegs-Gambit”.
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