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Alasdair Macleod: Eurozone finances have deteriorated
By Alasdair Macleod
Head of Research
GoldMoney, Toronto
Thursday, August 26, 2021
Despite negative interest rates and money printing by the European Central Bank, which conveniently allowed all Eurozone member governments to fund themselves, having gone nowhere Eurozone nominal GDP is even lower than it was before the Lehman crisis.
Then there is the question of bad debts, which have been mostly shovelled into the TARGET2 settlement system. Otherwise we would have seen some substantial bank failures by now.
... Dispatch continues below ...
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Awakening a Sleeping Giant in Ghana: Asante Gold Acquires Past-Producing Bibiani Mine
From Golden Opportunities / Gold Newsletter
Metairie, Louisiana
Tuesday, August 17, 2021
Asante Gold (ASE.CN; ASGOF.OTC) has just acquired a past-producing gold mine in Ghana that boasts near-term production potential and huge upside.
With the move, Executive Director Malik Easah is seeking to repeat his success with Cardinal Resources, another gold company with a Ghana project that he recently sold for A$600 million.
It’s a deal that came like a bolt from the blue.
Just a few weeks ago Asante Gold catapulted itself from a relatively sleepy gold story into a major development-stage company set to breathe new life into Ghana's huge, past-producing Bibiani mine. ...
... For the remainder of the report:
https://goldnewsletter.com/go081721/
The Eurozone's largest banks are over-leveraged, and their share prices question their survival. Furthermore, these banks will have to contract their balance sheets to comply with the new Basel 4 regulations covering risk weighted assets, due to be introduced in January 2023.
And lastly, we should consider the political and economic consequences of a collapse of the Eurosystem. It is likely to be triggered by U.S. dollar interest rates rising, causing a global bear market in financial assets. The financial position of highly indebted Eurozone members will become rapidly untenable and the very existence of the euro, the glue that holds it all together, will be threatened. ...
... For the remainder of the analysis:
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