Europe

Yesterday we reported that in a dramatic escalation against the lockbox of Europe's cash, a package containing explosives was found at the German finance ministry. It was, however, unclear who had sent it. Today we have an answer: according to Reuters, the militant Greek group Conspiracy of Fire Cells has claimed responsibility for the parcel bomb that was mailed to German Finance Minister Wolfgang Schaeuble, German police said on Thursday.

From Nuisance to Threat: The High Cost of Truth

Paul Craig Roberts

When one gives so much scarce time and energy from one’s life to a large and unknown public, one needs to know that it is sufficiently appreciated to be a worthwhile use of one’s time and energy. This is especially the case when there are large costs associated with the commitment.

Your response to my quarterly request for donations showed me that enough of you value what I am doing to justify its continuation.

Gold Up 1.8%, Silver Up 2.6% After Dovish Fed Signals Slow Rate Rises

While some were worried about an "unexpected outcome" from yesterday's Dutch general election, in the end the country's center-right Prime Minister Mark Rutte managed to fight off the challenge of anti-Islam, anti-EU rival Geert Wilders to score an election victory that was hailed across Europe on Thursday by governments facing a rising wave of nationalism.

World stock indexes soared to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening. European and Asian were broadly higher this morning, with S&P tagging along, driven by two main events: the latest "dovish" Fed rate hike, and the Dutch election results, in which Geert Wilders performed worse than some expected, reducing concerns of Eurozone political risk, and broadly seen as a sign of support for Europe's establishment.