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Tag Archives: banks
China Capitulates: Injects $25 Billion Into Liquidity-Starved Banks To “Appease Investors”
China Capitulates: Injects $25 Billion Into Liquidity-Starved Banks To “Appease Investors” Is China’s push to deleverage its financial system over? That is the question following last night’s dramatic reversal in recent PBOC liquidity moves, when after weeks of mostly draining liquidity, the central bank injected a whopping 170 billion yuan (net of maturities), or $24.7 […]
Bank of China ATMs Go Dark As Ransomware Attack Cripples China
Bank of China ATMs Go Dark As Ransomware Attack Cripples China In the aftermath of the global WannaCry ransomware attack, which has spread around the globe like wildfire, a significant number of corporations and public services have found their infrastructure grinding to a halt, unable to operate with unprotected if mission-critical computers taken offline indefinitely. […]
Just a quick reminder of who’s really in charge
Just a quick reminder of who’s really in charge Today the world of banking and finance waited with baited breath for the Federal Reserve in the United States to hike… or not to hike… interest rates. This happens several times each year as the central bank’s Federal Open Market Committee gathers to set monetary policy […]
So China’s Authorities Crack Down on Housing Speculation?
So China’s Authorities Crack Down on Housing Speculation? Who’s Behind China’s Wild House Price Bubble? State-Owned Property Developers, Funded by State-Owned Banks. Beijing’s municipal government summoned representatives of state-owned property developers on Monday and told them to stop hyping the already overheated housing market, according to the portal, Chinese Real Estate Business (CREB), cited by […]
World Out Of Whack: Iceland, You Won’t Believe It
World Out Of Whack: Iceland, You Won’t Believe It The developed world is going to hell and probably deserves it. Today, I’m going to show you what should have been done both during and post the GFC. That it wasn’t, and now almost certainly won’t, is a problem for us all but that’s a story for another […]
Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks
Gary Cohn Backs Reinstating Glass-Steagal, Breaking Up Big Banks In an unexpected statement made by the former COO of Goldman Sachs and current director of Trump’s National Economic Council, Gary Cohn told a private meeting with lawmakers on the Senate Banking Committee on Wednesday evening that he could support legislation breaking up the largest U.S. […]
Multiple Bubbles Are Going to Bring America to Its Knees: “The Warning Signs Are There”
Multiple Bubbles Are Going to Bring America to Its Knees: “The Warning Signs Are There” If you’ve been paying attention to the ongoing degradation of the American economy since the last financial crisis, you’re probably flabbergasted by the fact that our economy has managed to make it this far without imploding. I know I am. […]
Our Economies Run On Housing Bubbles
Our Economies Run On Housing Bubbles Rene Magritte Memory 1948We are witnessing the demise of the world’s two largest economic power blocks, the US and EU. Given deteriorating economic conditions on both sides of the Atlantic, which have been playing out for many years but were so far largely kept hidden from view by unprecedented […]
Here’s Why Italy’s Banking Crisis Has Gone Off the Radar
Here’s Why Italy’s Banking Crisis Has Gone Off the Radar Just how many banks are insolvent? Turns out, a lot! But elections are coming up. For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down […]
Banks Are Evil
Barandash Karandashich/Shutterstock Banks Are Evil It’s time to get painfully honest about this I don’t talk to my classmates from business school anymore, many of whom went to work in the financial industry. Why? Because, through the lens we use here at PeakProsperity.com to look at the world, I’ve increasingly come to see the financial […]
Why No One’s Going to Drain this Swamp
Why No One’s Going to Drain this Swamp The Financial Sector threw $2 Billion at Congress during the Election. Biggest Spenders? Not the Banks. The Financial Sector – whose products, risk-taking, and shenanigans blew up the sector and everything around it during the Financial Crisis – has finally gotten the memo in a serious way: […]
Is it Safe to Store Gold in a Safe Deposit Box?
Is it Safe to Store Gold in a Safe Deposit Box? QUESTION: Martin, Love your blog, especially your historical perspective. You recently responded to a viewer that we should take precious metals out of safety deposit boxes. Is there a reason for this? To my understanding the bail-in rules for banks in N.america put deposits […]
The Italian Banking Crisis: No Free Lunch – Or Is There?
The Italian Banking Crisis: No Free Lunch – Or Is There? It has been called “a bigger risk than Brexit”– the Italian banking crisis that could take down the eurozone. Handwringing officials say “there is no free lunch” and “no magic bullet.” But UK Prof. Richard Werner says the magic bullet is just being ignored. On […]
UBS Warns: Spain’s “Most Italian Bank” Runs Out of Options
UBS Warns: Spain’s “Most Italian Bank” Runs Out of Options The bank-bailout business rages on. During the first week of 2017, Spain’s “most Italian bank”, Banco Popular, got off to a flying start as its stock outperformed all other major Spanish banks. By Jan 5th its shares had even crossed the €1-line for the first […]
