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The Ghost of Failed Banks Returns
THE GHOST OF FAILED BANKS RETURNS Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, bringing an unwelcome spotlight to the troubled bank and other foreign banks with prime brokerages in America. There are also worrying similarities between Germany’s Deutsche […]
‘Retail Apocalypse’ Continues: Forever 21 Files For Bankruptcy, 30,000 Jobs At Risk
‘Retail Apocalypse’ Continues: Forever 21 Files For Bankruptcy, 30,000 Jobs At Risk Following reports earlier this month that a bankruptcy for the fast-fashion pioneer was imminent, Forever 21 filed for Chapter 11 protection in Delaware Sunday night, becoming the latest brick-and-mortar retailer to succumb to the Amazon-driven ‘retail apocalypse’, Bloomberg reports. In addition to the competition from e-commerce retailers, BBG said […]
Metro Bank Teeters after Bond Sale Fails. Shares Collapsed 95%
Metro Bank Teeters after Bond Sale Fails. Shares Collapsed 95% Hedge-fund manager Steven Cohen and Michael Bloomberg are among those ruing the day they bought the crushed shares of the UK bank touted as a “bargain.” Even by its own recent standards, Metro Bank has had a torrid week. On Monday, shares of the British […]
U.S. Constitutional Crisis? Not According to Gold Bullion
U.S. Constitutional Crisis? Not According to Gold Bullion The system is collapsing, the markets are crashing, and gold and silver bullion are soaring higher, attempting to protect their investors from the impending doom about to befall us. Or not. The Mainstream Media is at it again, beating the war drum and attempting to rile up the […]
Panic In Emerging Markets: South African Stocks On Track For Worst 3Q Since 2011
Panic In Emerging Markets: South African Stocks On Track For Worst 3Q Since 2011 The world is on the cusp of an economic storm, and most global investors haven’t strapped on their rain boots nor deployed their umbrellas for what is coming in 2020. As we note in this piece, the most vulnerable fall first, […]
Canadian industry is ‘addicted to fossil fuels,’ but the Green Party can change that, says Elizabeth May
Canadian industry is ‘addicted to fossil fuels,’ but the Green Party can change that, says Elizabeth May Goal isn’t to come up with something politically palatable, it’s to secure future: May Green Party Leader Elizabeth May says Canadians want action on climate change, but are stymied by living in a society “hardwired to fossil fuel […]
J.M. Keynes: The Time He Had A Point
J.M. Keynes: The Time He Had A Point John Maynard Keynes once said: “Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years […]
Weekly Commentary: No Coincidences
Weekly Commentary: No Coincidences September 20 – Wall Street Journal (Daniel Kruger): “The Federal Reserve Bank of New York will offer to add at least $75 billion daily to the financial system through Oct. 10, prolonging its efforts to relieve funding pressure in money markets. In addition to at least $75 billion in overnight loans, […]
The Ghost of Failed Banks Returns
The Ghost of Failed Banks Returns Last week’s failure in the US repo market might have had something to do with Deutsche Bank’s disposal of its prime brokerage to BNP, bringing an unwelcome spotlight to the troubled bank and other foreign banks with prime brokerages in America. There are also worrying similarities between Germany’s Deutsche […]
Oil Erases All Saudi-Attack Gains After Iran Sanctions Report
Oil Erases All Saudi-Attack Gains After Iran Sanctions Report Already helped by reports of a partial Saudi cease-fire with Yemen, oil prices have legged lower – erasing all the price gains since the Saudi-attack – on the back on a Reuters report saying that US offered to remove all Iranian sanctions in exchange for talks. That’s not […]
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’
Secret Survey: U.S. Shale In A State Of ‘Deep Anxiety’ The financial stress sweeping over the U.S. shale sector has led to a sharp contraction in activity. Oil and gas activity in Texas and parts of New Mexico declined in the third quarter, with the Dallas Fed’s business activity index reporting a reading of -7.4, down […]
How Fractional Reserve Banking Contributes to Increases in Money Supply
HOW FRACTIONAL RESERVE BANKING CONTRIBUTES TO INCREASES IN MONEY SUPPLY Some commentators consider fractional reserve banking as a major vehicle for the expansion in the money supply growth rate. What is the nature of this vehicle? We suggest that fractional reserve banking arises because banks legally are permitted to use money placed with them in […]
The Coup Has Begun – The Empire Strikes Back Everywhere
The Coup Has Begun – The Empire Strikes Back Everywhere “I am altering the deal, pray I don’t alter it any further.” Darth Vader, “The Empire Strikes Back” You know I think there are no coincidences in politics. Everything happens on a particular schedule. So when I see a day as crazy as today I […]
The Fed Created The Everything Bubble And A Liquidity Crisis – What Happens Next?
The Fed Created The Everything Bubble And A Liquidity Crisis – What Happens Next? It’s an interesting dynamic that the Federal Reserve has conjured in the decade after the 2008 credit crash. They spent several years using artificial stimulus measures to inflate perhaps the largest financial bubble in the history of the US, and then […]
Dollar Liquidity Crisis Accelerates As Month-End Nears, Record $92 Billion Demand
Dollar Liquidity Crisis Accelerates As Month-End Nears, Record $92 Billion Demand As month-end looms, demand for dollar liquidity is accelerating dramatically with today’s Fed operation oversubscribed – with around $92 billion of demand for The Fed’s $75 billion offering… This is the heaviest demand yet for this new Fed liquidity spigot… As we noted previously, […]
