Europe

While Europe censors hate-speak (or any 'speak' they don't agree with), Canada enacts anti-free-speech laws, and Britain is ready and willing to shutdown the internet over what some websites say, one former fund manager has had enough of some other words that are thrown around with abandon.

As Bloomberg's Richard Breslow explains, the last thing I want to be doing the day after July 4th is making any kind of assault on free speech. But I’m going to propose a ban on certain words that no longer pass the plain-speaking test.

In the aftermath of recent hawkish jawboning by central bankers around the globe, and especially FOMC members who now appear set to hike even if only to just spite momentum chasing market algos by "shocking" easy liquidity conditions in tightening as Goldman suggested in May, SocGen's Kit Juckes asks a more existential question: channeling the eagles he wonder if we "Are we just prisoners here, of our own QE?" and points out that as a result of the $15 trillion in CB liquidity injections, the US is "sort of" stuck in a 1990s-style Japanese "lost decade" and the impact on the global economy

Authored by Mike Shedlock via MishTalk.com,

In Europe, where it is essentially taboo to publicly discuss anything deemed politically incorrect, some interesting conversations are taking place in the Italian parliament regarding the future of Italy in the eurozone. 

Via email, Eurointelligence asks Is Italy heading for debt restructuring or euro exit?

Buy Gold Near $1,200 “As Insurance” - Swiss Bank 

S&P futures were little changed at 2,425, ignoring the N.Korea tensions of the past two days which will likely be a major topic in the upcoming G-20 summit, as European stocks fluctuate and Asian markets advance. Crude oil fell, snapping the longest winning streak this year, as Russia said it opposed any proposal to deepen OPEC-led production cuts.