- Italy is EU's ticking timebomb as debt nears EUR2.4 trillion- Italy's GDP is just EUR1.85 trillion; National debt is 132% of economy- Italy is politically dysfunctional at best of times; Now has populist left / right wing government- National debt owed to other EU nations alone is 25% of its GDP- Italy's debt threatens global GDP; May wipe 0.4% off global GDP
- Default to create contagion in EU including a euro currency crisis- All the focus is on Brexit and trade wars but "Italy is too big to bail and too big to fail"- "Do not have all your eggs in one basket..."- "Don't panic. Diversify, diversify, diversify"
News and Commentary
Stocks Climb Before Earning Season; Dollar Weakens: Markets Wrap (Bloomberg.com)
Asian Stocks Gain; Dollar Steady Near Recent Lows (Bloomberg.com)
Asia shares edge higher, sterling slugged by UK politics, Brexit concerns (Reuters.com)
May's Brexit Plan: The Details, The Overtures and The Meaning (Bloomberg.com)
Russia Joins Global Trade War - Imposes Tariffs On US Energy, Mining Imports (ZeroHedge.com)
Global trade war has kicked off (MoneyWeek.com)
Hallmark of an economic Ponzi scheme - John Hussman (HussManFunds.com)
Govt economic advisor warns British defence planners that growth is ending (Medium.com)
Time to Buy Gold for a Trade (Investopedia.com)
Gold Prices (LBMA AM)
06 Jul: USD 1,254.20, GBP 947.55 & EUR 1,071.09 per ounce05 Jul: USD 1,252.50, GBP 946.89 & EUR 1,071.64 per ounce04 Jul: USD 1,256.90, GBP 951.47 & EUR 1,079.80 per ounce03 Jul: USD 1,245.85, GBP 944.85 & EUR 1,068.81 per ounce02 Jul: USD 1,249.00, GBP 948.87 & EUR 1,072.39 per ounce29 Jun: USD 1,250.55, GBP 950.29 & EUR 1,073.85 per ounce
Silver Prices (LBMA)
06 Jul: USD 16.00, GBP 12.09 & EUR 13.66 per ounce05 Jul: USD 15.95, GBP 12.04 & EUR 13.65 per ounce04 Jul: USD 16.05, GBP 12.15 & EUR 13.78 per ounce03 Jul: USD 15.93, GBP 12.08 & EUR 13.68 per ounce02 Jul: USD 15.98, GBP 12.14 & EUR 13.73 per ounce29 Jun: USD 16.03, GBP 12.20 & EUR 13.77 per ounce