Europe

Via GoldSwitzerland.com,

Lars Schall interviewed Peter Boockvar. Peter is one of those rare and informed people in the investment space who really understands the history and role of Central Banks in general, the Federal Reserve Bank in particular, and their interactions with the financial industry on (government) policy. We are very pleased to have Peter Boockvar on board this month with his first Matterhorn Interview. We recommend a good listen below.

The United States is about to activate its missile systems across Europe, despite Russia warning against increasing US-led arms deployment near its borders. The missile defence shield that cost billions of dollars will go live tomorrow almost a decade after Washington proposed protecting NATO from Iranian rockets. American and NATO officials will declare the shield, which is located at a remote air base in Deveselu, Romania, is operational despite Russian warnings that the West is threatening the peace in central Europe.

Following months of appeasement of Turkey's dictator Recep Erdogan, Europe has found itself surprised that as it yields to every incremental demand, Turkey simply asks for more and more. One such example was chronicled by the FT earlier today in "Turkey demands EU hands over €3bn for refugees" in which we read that "a row has erupted between Turkey and the EU over billions of pounds in aid for Syrian refugees, casting fresh doubt on a fragile deal to halt the flow of people towards Europe."

Refugees escaping war and hardship in the Middle East who risked their lives and paid smugglers 1000’s of dollars to reach the safety of Europe, are now trying to swim their way back to Turkey. They are leaving behind asylum detention centers described by some as unfit for animals. Some migrants weary of deportation back to Turkey and an uncertain welcome by the authorities have pre-empted the process to avoid facing Turkish interrogation and detention.

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