Monday, November 14, 2016

Failed Central Banks

Before the Trump victory people given the PC world many have been forced to live in were smart enough not to come right out and say whom they would vote for, one of the reasons the polls despite all of MSM's attempts to rig things were so far off base.

Trump's victory has changed all that for the good, not just here but globally. Mario Draghi and his fellow Brussel's  monetary bedroom partners have failed. Central banks with all their Goldman Sachs connections have failed, not the system, but more important--the people.
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zerohedge.com/news/2016-11-13/italeave-looms-italian-crisis-indicator-spikes-record-high-after-trump-win

"The US election will help all those who have not had the courage to come out and say 'I will vote No'," proclaimed one of Italian PM Renzi's opponents as The FT reports the centre-left prime minister’s referendum on change is threatened by the global populist wave. Even before the US election, he faced a struggle to secure victory in the referendum, with most polls tilting in favor of voting 'No', albeit with many undecided voters, but opponents claim "many undecided voters in the polling booth will say ‘No No No’, just like Trump voters."
As The FT reports, Mr Renzi has said he will resign if his flagship changes to Italy’s political system are rejected in a referendum on December 4, making him a casualty of the populist insurgency sweeping western democracies and increasing investor concern for the eurozone’s third-largest economy.
That fear is most evident in Italian sovereign bonds which have collapsed dramatically in the last weeks (accelerating in the last few days) with 10Y BTP yields above 2.00% for the first time since July 2015 and the spread to Bunds at its highest in 2 years (despite collossal buying from the ECB)...



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