Sunder’s List

Roundup: S&P +0.72%. Dow +0.63%. Nasdaq +0.70%. Gold $1,606.20. London +0.07%. Germany -0.27%. France -0.12%. Nikkei currently +1.42%

Do we have a deal to save the world (again)? Cyprus will close its second largest bank and screw the Russians for $13 billion bailout. (Reuters)

If Cyprus can do it, will Britain have to? There are only three ways out: inflation, taxation or confiscation. (FT) And its not just Britain: in the developed world total debt (including that of the financial sector, consumers and companies, as well as governments) is so high that it is implausible that it can be repaid via the fruits of economic growth. The debt must either be written off (defaulted on) or slowly inflated away. (Economist)

“In money management what sells is the illusion of certainty.” Is your financial advisor be comfortable saying, “I don’t know,” even if that is the real answer? (RP)

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