Saxo Bank CEO: "The Euro Crisis has turned into a Fatal Disaster"

The eurozone will eventually break up. Cyprus was indeed a template for bail ins and outright confiscatory wealth taxes, disguised as solidarity payments, could be used to raise funds

Lars Seier Christensen, co-CEO and co-founder of Saxo Bank at the Saxo #FXDebates in London

"The governments of Europe need money, and the private sector has it. It is as simple as that. Be very paranoid," he said, warning investors that the mattress may be a safer place to deposit money over the weekend than their bank accounts".

Interview with George Soros: the Fall of Europe

On May 12, George Soros was awarded the Tiziano Terzani Prize for his 2012 book Financial Turmoil in Europe and the United States: Essays. The following interview is adapted from a press conference in Udine, Italy, on that occasion.

Soros is well known for his political and economic influence.

SOROS: I have been very concerned about Europe. The euro is in the process of destroying the European Union. To some extent, this has already happened, in the sense that the EU was meant to be a voluntary association of equal states. The crisis has turned it into something that is radically different: a relationship between creditors and debtors. And, in a financial crisis, the creditors are in charge. It is no longer a relationship between equals. The fate of Italy, for example, is no longer determined by Italian politics – which is in a crisis of its own, I would say – but rather by the creditor/debtor relationship. That is really what dictates policies.

Former ECB member Bini Smaghi: Italy needs a Bailout

Italians in deep trouble. 40% youth unemployement. Political situation chaotic, companies are going bankrupt and interest on debt is becoming unaffordable

Italy's new government should take a bold step and ask for international financial aid to reform its banks and its economy, former European Central Bank board member Lorenzo Bini Smaghi said on Monday on the sidelines of a conference in Milan, Reuters reports. Bini Smaghi left the ECB last year.

German Producer Uwe Boll makes Movie about Shooting Bankers

Millions of people have lost everything in the financial crisis. They've lost their jobs, their homes, their life savings. Movie makers are cashing in on this new reality.



"When greed becomes evil, mass murder is justified." 

Bailout: The Age of Greed. Jim is an average New Yorker living a peaceful life with a well paying job and a loving family. Suddenly, everything changes when the economy crashes causing Jim to lose everything. Filled with anger and rage, Jim snaps and goes to extreme lengths to seek revenge for the life taken from him

US Commission: 10 out of 15 Intolerant Countries are Muslim

New members on the list of shame include Egypt, Pakistan and Iraq

The new leader of Egypt has made his country a new member on the list this year. 

The US Committee on International Religious Freedom has concluded in its annual report that 10 out of 15 of the most intolerant countries are Muslim. It mentions Egypt, Iran, Iraq, Nigeria, Pakistan, Saudi Arabia, Sudan, Tajikistan, Turkmenistan and Uzbekistan and five other countries that are ruled by communist or radical leftist regimes: China, Birma, North Korea, Vietnam and Eritrea.

BAM! Hillary: What a Difference 40 Years Make! [pic]

Bam: Hillary Clinton, from Watergate to Benghazi [pic] bit.ly/100f5Ty
— TwitchyTeam (@TwitchyTeam) May 13, 2013

Female Genital Mutilation Is Here and Now!

A group formed to protest and combat female genital mutilation declared May 6 and May 12 the first-ever International Clitoris Awareness Week. The organization, Clitoraid, released a statement Friday about the campaign:

The Romney Campaign Ad About Benghazi That Never Was

This ad should have run 24/7 for the final two weeks prior to the election. As it was, the Romney campaign spiked it, because they thought the election should be solely about the economy. 

G7: Real Root of the Crisis is Taxation

Amidst the sovereign debt crisis, the financial crisis, the liquidity crisis and the cultural crisis, the G7 group of industrialized nations, meeting this weekend in London, have hit on the solution! At root of it all is the tax crisis! It is in fact so bad, they have agreed that collective action is needed to ensure that firms and individuals finally start paying their taxes! 

Islam Rally: Close GITMO, Re-Open Auschwitz

#Islamic extremist rally in New York: "close Guantanamo Bay, re-open Auschwitz." twitpic.com/cpw894 via @twitpic
— Tuny (@TunyNL) May 12, 2013

Can it be any clearer? What part is so hard to understand?

The psychology of the appeaser is rooted in the fact that he is morally accepting the enemy's premises.