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In The Rush Toward A Cashless Society, The Poorest Are At Risk Of Further Exclusion
In The Rush Toward A Cashless Society, The Poorest Are At Risk Of Further Exclusion “Unless you’re poor, it’s hard to understand what it’s like to be poor.” Indian Prime Minister Narendra Modi has a grand ambition to make his country into a cashless society. In 2014, he launched a scheme to provide bank accounts […]
Banks & Builders Want New Property Bubble In Spain, Government Obliges
Banks & Builders Want New Property Bubble In Spain, Government Obliges “This plan, far from solving or alleviating the problem, is likely to make it a whole lot worse.” Spain’s second biggest bank, BBVA, just announced that it’s resurrecting the 100% mortgage, a high-risk loan instrument that notoriously helped fuel Spain’s madcap property boom. For […]
Eurozone Banking Crisis – ECB Delays Rules for Bad Loans until 2021
Eurozone Banking Crisis – ECB Delays Rules for Bad Loans until 2021 The European Central Bank (ECB) has postponed its new guidelines for banks because if it did not, the Italian banking system would simply collapse. The ECB has given Eurozone area banks more time to adapt to new guidelines on how to deal with […]
Russia Mulls Additional Trillion Ruble Bailout For Failing Banks
Russia Mulls Additional Trillion Ruble Bailout For Failing Banks In August 2017 we noted Russia’s largest private lender was in trouble and required a bailout. Then a month later, a second bank hit the wall and was bailed out. And now, five months later, Russia’s central bank is mulling a further capital injection of a […]
Interbank Rates Starting to Rise – Monetary Crisis is Beginning
Interbank Rates Starting to Rise – Monetary Crisis is Beginning Extremely reliable sources from Behind the Curtain in Europe are becoming deeply concerned that Draghi at the ECB has created a monumental economic disaster he is just praying to holding off until he leaves next year. Interest rates are already starting to rise significantly in […]
Interbank Market Collapsing
Interbank Market Collapsing QUESTION: Mr. Armstrong; Has interbank lending collapse due to a lack of confidence concerning counter-party risk? Thank you for being a rare source with experience ER ANSWER: Yes that is a correct statement. The failure of Lehman and Bear Sterns was the result of interbank lending when they could not make good on […]
How the Euro Will Be Killed by Politicians
How the Euro Will Be Killed by Politicians The man who is killing the Euro as a viable currency is none other than Donald Franciszek Tusk who is a Polish politician who has been the President of the European Council since 2014. He is the living example why politicians MUST be prohibited from making any decisions […]
Lativa Banking Crisis Unfolding on Schedule – Will There Be a European Contagion?
Lativa Banking Crisis Unfolding on Schedule – Will There Be a European Contagion? The Latvian Financial Supervisory Authority is concerned announcing a resolution plan for the crisis bank ABLV that is threatening a contagion risk of further closures of financial institutions in the country with a predominantly foreign customer base. There is a serious […]
Daniel Nevins: Economics for Independent Thinkers
Daniel Nevins: Economics for Independent Thinkers It’s time we stop trusting the ‘experts’ Economists are supposed to monitor and analyze the economy, warn us if risks are getting out of hand, and advise us on how to make things runs more effectively — right? Well, even though that’s what most people expect from economists, it’s […]
Will Italy’s Banking Crisis Spawn a New Frankenbank?
Will Italy’s Banking Crisis Spawn a New Frankenbank? “Operation Overlord.” There are rumors currently doing the rounds that Italy’s banking problems have finally been put to rest. The FTSE Italia All-Share Banks Index has soared about 40% over the last 12 months, about double the advance by the Euro Stoxx Banks Index. Six of the […]
A New Cunning Plan to Allay Banking Jitters is Hatched in Spain
A New Cunning Plan to Allay Banking Jitters is Hatched in Spain But there’s a problem with the plan. The Spanish Government has a brand new cunning plan to fortify the country’s banking system, which was rocked last year by the collapse of the sixth biggest bank, Banco Popular. It wants the country’s Deposit Guarantee […]
Here’s How Regulators Are Inadvertently Laying The Groundwork For The Next Housing Crisis
Here’s How Regulators Are Inadvertently Laying The Groundwork For The Next Housing Crisis Only a few weeks ago, we pointed out a remarkable development in the US mortgage market that has significant implications not only for mortgage borrowers, but perhaps the broader economy as a whole: Wells Fargo, formerly America’s foremost mortgage lender, had seen […]
Iran Threatens To Abandon Nuclear Deal If Western Banks Don’t Start Doing Business
Iran Threatens To Abandon Nuclear Deal If Western Banks Don’t Start Doing Business Iran says it will withdraw from the 2015 nuclear deal if big banks continue to avoid doing business with the Islamic republic, deputy foreign minister Abbas Araghchi said on Thursday, speaking from London. The Islamic Republic agreed to restrict its nuclear program in […]
Latvia Bank Crisis: Central Bank In Chaos As ECB Blocks Payments By Third Largest Bank
Latvia Bank Crisis: Central Bank In Chaos As ECB Blocks Payments By Third Largest Bank One day after we reported that the central bank governor and ECB Governing Council member Ilmars Rimsevics was detained by Latvia’s anti-corruption authority on Saturday on suspicion of accepting a bribe of more than €100,000, prompting both Latvia’s Prime Minister […]
