Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
It's Five Nights at Freddy's Again! - 12th Jan 25
Squid Game Stock Market 2025 - 5th Jan 25
Stock Market Bubble Drivers, Crypto Exit Strategy During Musk Presidency - 27th Dec 24
Gold Stocks’ Remain Exceptionally Weak Even as Stocks Rise - 27th Dec 24
Gold’s Remarkable Year - 27th Dec 24
Stock Market Rip the Face Off the Bears Rally! - 22nd Dec 24
STOP LOSSES - 22nd Dec 24
Fed Tests Gold Price Upleg - 22nd Dec 24
Stock Market Sentiment Speaks: Why Do We Rely On News - 22nd Dec 24
Never Buy an IPO - 22nd Dec 24
THEY DON'T RING THE BELL AT THE CRPTO MARKET TOP! - 20th Dec 24
CEREBUS IPO NVIDIA KILLER? - 18th Dec 24
Nvidia Stock 5X to 30X - 18th Dec 24
LRCX Stock Split - 18th Dec 24
Stock Market Expected Trend Forecast - 18th Dec 24
Silver’s Evolving Market: Bright Prospects and Lingering Challenges - 18th Dec 24
Extreme Levels of Work-for-Gold Ratio - 18th Dec 24
Tesla $460, Bitcoin $107k, S&P 6080 - The Pump Continues! - 16th Dec 24
Stock Market Risk to the Upside! S&P 7000 Forecast 2025 - 15th Dec 24
Stock Market 2025 Mid Decade Year - 15th Dec 24
Sheffield Christmas Market 2024 Is a Building Site - 15th Dec 24
Got Copper or Gold Miners? Watch Out - 15th Dec 24
Republican vs Democrat Presidents and the Stock Market - 13th Dec 24
Stock Market Up 8 Out of First 9 months - 13th Dec 24
What Does a Strong Sept Mean for the Stock Market? - 13th Dec 24
Is Trump the Most Pro-Stock Market President Ever? - 13th Dec 24
Interest Rates, Unemployment and the SPX - 13th Dec 24
Fed Balance Sheet Continues To Decline - 13th Dec 24
Trump Stocks and Crypto Mania 2025 Incoming as Bitcoin Breaks Above $100k - 8th Dec 24
Gold Price Multiple Confirmations - Are You Ready? - 8th Dec 24
Gold Price Monster Upleg Lives - 8th Dec 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Ireland “Especially Exposed” To “International Shocks” – Central Bank

Interest-Rates / Financial Crisis 2016 Sep 06, 2016 - 01:59 PM GMT

By: GoldCore

Interest-Rates

Ireland remains especially exposed to another financial shock because of the extremely high levels of public and private debt, the open nature of the economy, and Brexit, Irish Central Bank Governor Philip Lane has warned in a pre-budget letter to Minister for Finance, Michael Noonan.

“Ireland is especially exposed due to the legacy of high public and private debt levels, the sensitivity of small, highly-open economies to international shocks and Brexit-related vulnerabilities,” Ireland’s Central Bank Governor said.


The letter was covered in the Irish Independent, Irish Times and Irish Examiner. The massive debt challenges facing Ireland and the world is something we discussed in our interview with Max Keiser last week – see here.

There are many potential international financial and geopolitical shocks today which have the potential to derail the very fragile economic recovery or indeed contribute to a new global debt crisis.

Geopolitical risk remains very high. ‘Brexit’ has created a whole new set of risks to Ireland, the UK and the Eurozone itself. The Middle East remains a powder keg and tensions with Russia remain very real. There is the real risk of conflict and the consequent effect on oil prices, global markets and the global economy.

The governor’s warnings come in the wake of similar warnings from the former deputy governor of the Central Bank who warned in an op-ed in a leading international financial publication, Project Syndicate, that Ireland is at risk of another housing market crash.

There have also been warnings regarding deposit bail-in risks from the CEO of FDB, one of Ireland’s largest insurance companies. The insurance company has been moving cash out of Irish bank deposits and into bonds. In order to read more about Stefan Gerlach’s warning and Fiona Muldoon’s concerns –   read Deposit Bail-in and Property Crash Warnings In Ireland here.

These risks are set to impact savers and investors in the coming years. Ignoring them and pretending they have no financial implications for people’s personal finances is imprudent.

Today Dr Constantin Gurdgiev, Dr Brian Lucey, Eddie Hobbs, Jim Power, Cormac Lucy, Jill Kerby and others are all advocating diversification into gold again. Diversification remains important and an allocation to physical gold will again protect in the coming crisis.

Interview re Ireland’s Debt Crisis – Starts 12:24 – Watch here 

Gold Prices (LBMA AM)

06 Sep: USD 1,330.05, GBP 997.94 & EUR 1,191.46 per ounce
05 Sep: USD 1,328.30, GBP 996.23 & EUR 1,189.49 per ounce
02 Sep: USD 1,311.50, GBP 987.95 & EUR 1,172.74 per ounce
01 Sep: USD 1,305.70, GBP 985.80 & EUR 1,172.13 per ounce
31 Aug: USD 1,314.45, GBP 1,000.30 & EUR 1,179.19 per ounce
30 Aug: USD 1,318.85, GBP 1,008.39 & EUR 1,180.90 per ounce
26 Aug: USD 1,324.90, GBP 1,002.95 & EUR 1,173.33 per ounce

Silver Prices (LBMA)

06 Sep: USD 19.60, GBP 14.70 & EUR 17.55 per ounce
05 Sep: USD 19.46, GBP 14.60 & EUR 17.43 per ounce
02 Sep: USD 18.75, GBP 14.15 & EUR 16.76 per ounce
01 Sep: USD 18.65, GBP 14.08 & EUR 16.73 per ounce
31 Aug: USD 18.74, GBP 14.27 & EUR 16.82 per ounce
30 Aug: USD 18.78, GBP 14.35 & EUR 16.82 per ounce
26 Aug: USD 18.67, GBP 14.15 & EUR 16.54 per ounce

Mark O'Byrne

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

IRL +353 (0)1 632 5010
UK +44 (0)203 086 9200
US +1 (302)635 1160

W http://www.goldcore.com/uk/

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in