Europe

Gold is better store of value than bitcoin - Goldman Sachs report

European shares are modestly lower as investors monitor tense events in Spain and as focus turns to Thursday’s ECB meeting; US equity futures have rebounded from yesterday's sharp but shallow selloff and are in the green amid rising odds of U.S. tax reform and the imminent unveiling of the next Fed chair while Asian shares rise and Japan extends its winning streak to a record 16 days. The euro edged higher after data showed Europe’s economy is maintaining momentum, while the USDJPY managed to recover all of yesterday's sharp losses.

More evidence revealing the ridiculousness of the centrist position on immigration – namely that refugees can be seamlessly integrated into European society without a spike in crime or terror – has emerged courtesy of the German newspaper Welt Am Sonntag which revealed Sunday that the number of terrorism-related cases investigated by German authorities has quadrupled over the past year.

Prosecutors have opened more than 900 cases so far this year, compared with just 240 throughout 2016, and 80 cases in 2013.

Want to set up a company to trade cryptocurrencies in the City of London. Forget about it.

Lloyd Blankfein tweeted about spending more time in Frankfurt, now London is shunning the fastest growing sector in finance. From the FT

British banks are shunning companies that handle cryptocurrencies, forcing many to open accounts in Gibraltar, Poland and Bulgaria and prompting some to question the UK’s ambitions to be a global hub for the fast-growing fintech sector.

 

By George Friedman of Mauldin Economics

A delegation of executives from major German corporations recently met with Russian President Vladimir Putin.

Such delegations are not unusual. Sometimes it is routine, sometimes a courtesy. But occasionally, it has significance. In the case of Russia-Germany relations, such meetings are always potentially significant.

Germany’s Unsteady Relations

Two relationships are critical to Germany.