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Tag Archives: ecb
If You Cannot Tell the Truth, Hide the Truth
If You Cannot Tell the Truth, Hide the Truth The motto of the ECB is plain and simple: why reform when we still have some power? Governments will fight until the last drop of blood is spilled; they assume it will be your blood, not theirs. We will see the opposite of transparency unfold along […]
Currency Wars, Battles, And Hostile Actions
Currency Wars, Battles, And Hostile Actions With its recent miniscule 2% devaluation of the Yuan, media pundits noted that China had now also entered into the global currency war. What this comment implies is that other countries with the ability to issue or print their own currency, including the U.S., have been participating in a […]
Now What?
Now What? September 18 – Reuters: “The world’s leading central banks are facing the risk that their massive efforts to revive economic growth could be dragged down again, with some officials arguing for bold new ideas to counter the threat of slow growth for years to come. A day after the U.S. Federal Reserve kept […]
Is Catalonia About to Go All In?
Is Catalonia About to Go All In? An extremely high-stakes game of political poker, not just for Catalonia and Spain but for Europe. For a nation that doesn’t officially exist, Catalonia sure knows how to throw a national-day party. September 11, approximately 1.4 million people filled the streets of the region’s capital, Barcelona (urban population: […]
Europe’s Biggest Bank Dares To Ask: Is The Fed Preparing For A “Controlled Demolition”
Europe’s Biggest Bank Dares To Ask: Is The Fed Preparing For A “Controlled Demolition” Why did we focus so much attention yesterday on a post in which the IMF confirmed what we had said since last October, namely that the BOJ’s days of ravenous debt monetization are coming to a tapering end as soon as 2017 (as […]
Don’t Forget China’s “Other” Spinning Plate: Trillions In Hidden Bad Debt
Don’t Forget China’s “Other” Spinning Plate: Trillions In Hidden Bad Debt To be sure, there’s every reason to devote nearly incessant media coverage to China’s bursting stock market bubble and currency devaluation. The collapse of the margin fueled equity mania is truly a sight to behold and it’s made all the more entertaining (and tragic) […]
Global Economic Fears Cast Long Dark Shadow On Oil Price Rebound
Global Economic Fears Cast Long Dark Shadow On Oil Price Rebound After bouncing around, oil prices finished off the week with just a bit less volatility than when it started the week. WTI stayed at around $46 per barrel as of midday on September 4, with Brent holding at $50 per barrel. Aside from supply […]
Whitewashing the IMF’s Destructive Role in Greece
Whitewashing the IMF’s Destructive Role in Greece This autumn may see anti-austerity coalitions gain power in Portugal, Spain and Italy, while Marine le Pen’s National Front in France presses for outright withdrawal from the eurozone. These countries face a common problem: how to resist the economic devastation that the European Central Bank (ECB), European Council […]
Meanwhile In Greece, Pension Funds Tap Emergency Loans
Meanwhile In Greece, Pension Funds Tap Emergency Loans This has not been a great year to be a pensioner in Greece. Over the course of the country’s fraught bailout talks, Greece’s pension system was frequently in the troika’s crosshairs. As for PM Alexis Tsipras, pension cuts were generally considered to be a so-called “red line” […]
German Newspaper Accuses Spain’s Central Bank of Hiding Collateral Risks from ECB
German Newspaper Accuses Spain’s Central Bank of Hiding Collateral Risks from ECB Shoddy collateral labeled “ECB-eligible” is a great deal for banks. Since the financial sectors of Southern Europe and Ireland hit the rocks during the height of Europe’s sovereign debt crisis, many of their respective banks have grown dependent on the generosity of the ECB – […]
War Begets War Refugees: The Moral Bankruptcy of Italy and NATO
War Begets War Refugees: The Moral Bankruptcy of Italy and NATO On April 26, 2011, a meeting that can only be described as sinister took place between the then Italian Prime Minister, Silvio Berlusconi, and French President, Nicolas Sarkozy. The most pressing issue discussed at the meeting in Rome was how to deal with African immigrants. Sarkozy, […]
Beware of American econ professors!
Beware of American econ professors! How Krugman, Sachs and Stiglitz led the Greeks astray. ATHENS — Since Alexis Tsipras made the difficult but responsible choice of arriving at a compromise with Greece’s creditors in mid-July, preventing an outcome that would have led his country out of the euro, a number of revelations have highlighted the […]
Euro ministers give blessing to Greek bailout, wooing IMF on debt
Euro ministers give blessing to Greek bailout, wooing IMF on debt Euro zone finance ministers have agreed to lend Greece up to 86 billion euros ($96 billion) after Greek lawmakers accepted their stiff conditions despite a revolt by supporters of leftist Prime Minister Alexis Tsipras. Assuming approval by the German and other parliaments, 13 billion […]
