Fight Club
“I don’t want to belong to any club that will accept me as a member.”-
Groucho Marx
“In another world...”-
Angela Merkel on Vladimir Pun aer a phone call in early March 2014
“This is my last election. After my election I
have more fexibility.”
-
Barack Obama to Dmitry Medvedev (remember him?), March 2012
“The truest wild beasts live in the most populous places.”-
Baltasar Gracian
“Those are my principles, and if you don’t like them ...well, I have others.”-
Groucho Marx
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THINGS THAT MAKE YOU GO
Hmmm...
A walk around the fringes of nance
By Grant Williams
01 April 2014
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THINGS THAT MAKE YOU GO
Hmmm...
01 April 2014
Contents
Jens Weidmann: QE Not “Out of the Question” ..................................................18Media Revolution in Spain as Readers Search for New Voices ..................................19Jeremy Grantham: The Fed Is Killing the Recovery ..............................................21Hong Kong Agrees to Give Financial Data of Americans Working in City to US Tax Authorities ..............................................................................................23Japan Buyers Rush To Snap Up Gold as Tax Rise Looms ..........................................24Jim Rickards: China Is Importing Gold Secretly Using Military Channels .....................26How Rumour Sparked Panic and Three-Day Bank Run in Chinese City ........................27“Guardian” Reporting of Snowden Leaks Threatened with Closure ...........................29Why Obama’s Legacy Hinges on Europe ............................................................30Russia in Audacious Gold for Alaska Swap Bid .....................................................32
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THINGS THAT MAKE YOU GO
Hmmm...
01 April 2014
Things That Make You Go
Hmmm...
Sometimes the sand shifts beneath your feet without your realizing it. Other times you can see it happening.In November 1975, at a summit meeting in the picturesque Château de Rambouillet near Paris, leaders of the six richest industrial powers gathered to form a rather exclusive, though completely informal, little club.Takeo Miki, Prime Minister of Japan; President Gerald Ford of the United States; the United Kingdom’s PM, Harold Wilson; West German Chancellor Helmut Schmidt; and Aldo Moro, Prime Minister of Italy, joined Valéry Giscard d’Estang, the French President, in establishing what was tagged the “Group of Six” or, as it would become known in today’s AOW (abbreviation-obsessed world), the G-6.A year later, upset at being left out of the club, Canada applied for and was granted membership after a month-long pledge drive in which Prime Minister Stephen Harper had to shotgun a six-pack of Molson, ride a moose bareback through the streets of Montreal, and ring the doorbell at the White House and run away.Thus was borne the Group of Seven (G-7 — see how this works? Pretty clever, huh?).The G-7 would meet informally (at enormous taxpayer expense) in a few dive bars like the Dorado Beach Resort in Puerto Rico, the Schaumburg Palace in Bonn, the Akasaka Palace in Tokyo, and the San Giorgio Maggiore in Venice; and at these gatherings the
attendees would eat gourmet meals, quaff the nest
wines, and discuss how to make the world a better, fairer place (right, a tweet of the menu, sent out somewhat ill-advisedly by David Cameron from the latest G-8 gathering, in June 2013).Your tax dollars hard at work.To receive Grant Williams'
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