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China Hit By “Significant Banking Stress” As SHIBOR Plummets To Recession Levels
China Hit By “Significant Banking Stress” As SHIBOR Plummets To Recession Levels It’s probably not a coincidence that just days after we reported that China’s interbank market was freezing up in the aftermath of the Baoshang Bank collapse and subsequent seizure, which led to a surge in interbank repo rates and a spike in Negotiable Certificates of […]
How Central-Bank Interest-Rate Policy Is Destabilizing Banks
How Central-Bank Interest-Rate Policy Is Destabilizing Banks Broadly speaking, banks operate under the concept of maturity transformation. Banks take short-term – less than one year – financing vehicles, such as customer deposits, and use that to finance long-term – more than one year – returns. These returns range from the most commonly understood loans, such […]
The Pivot Point
The Pivot Point The massive economic shock following the banking collapse of 2007–8 is the direct cause of the crisis of confidence which is affecting almost all the institutions of western representative democracy. The banking collapse was not a natural event, like a tsunami. It was a direct result of man-made systems and artifices which […]
When Deutsche Bank’s Crisis Becomes Our Crisis
When Deutsche Bank’s Crisis Becomes Our Crisis Our friends in Europe seem totally incapable of addressing their failing financial sector. And that’s not good for anyone. By anandoart/Shutterstock Americans generally think of Europe first as a wonderful place to visit. They rarely ponder the economic and financial ties between the United States and European Union, but […]
All That’s Missing Is a Black Swan
All That’s Missing Is a Black Swan “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the […]
JPMorgan: We Are Fast Approaching The Point Where Banks Run Out Of Liquidity
JPMorgan: We Are Fast Approaching The Point Where Banks Run Out Of Liquidity Last week we first noted that something unexpected has been going on in overnight funding markets: ever since March 20, the Effective Fed Funds rate has been trading above the IOER. This was unexpected for the simple reason that it is not supposed to happen […]
Here’s why the Federal Reserve rejected the safest bank in America
Here’s why the Federal Reserve rejected the safest bank in America In the spring of 1692, an energetic young Scotsman named John Campbell started a new business in central London. Campbell was a goldsmith, and his business sold jewelry and other crafted metals like plates and silverware. But Campbell’s new company had another business line […]
The Birth of a Monster
The Birth of a Monster The Federal Reserve’s doors have been open for “business” for one hundred years. In explaining the creation of this money-making machine (pun intended — the Fed remits nearly $100 bn. in profits each year to Congress) most people fall into one of two camps. Those inclined to view the Fed as […]
How Do You Beat The Bankers At Their Own Game?
How Do You Beat The Bankers At Their Own Game? Those that have been following events for several years know they are under attack by an enemy that has no face and means to do them great harm. Nothing less than their sovereignty and freedom is at stake. Absolute control over people and resources is the […]
Wall Street, Banks and Angry Citizens
Wall Street, Banks and Angry Citizens A major question remains unanswered when it comes to the state of Main Street, not just here but across the planet. If the global economy really is booming, as many politicians claim, why are leaders and their parties around the world continuing to get booted out of office in […]
Chapter 2: Laws That Make Robbery Legal.
CHAPTER 2: LAWS THAT MAKE ROBBERY LEGAL. A law can be anything from an attempt to establish justice on earth to a device for robbery and murder.[1] Nazi race law was an example of the latter. Most people pay lip service to the idea that laws should be just; but in fact, laws are often made […]
Chapter One: The Money Supply: How It Came to be Created by Banks
CHAPTER ONE: THE MONEY SUPPLY: HOW IT CAME TO BE CREATED BY BANKS. The most important fact in economics today goes unmentioned by most economists and bankers: money is created as debt from banks, and it is cancelled when debts are repaid.[1] I have asked many economists and bankers why this is so seldom mentioned, […]
How California stayed with gold when the rest of the U.S. adopted fiat money
How California stayed with gold when the rest of the U.S. adopted fiat money We are ten years into the age of bitcoin. But people are still using national currencies like yen, dollars, and pounds to buy things. What does history have to say about switches from one type of monetary system to another? In […]
Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way
Turkey’s Debt Crisis Deepens, Erdogan Bails out Banks His Way Shifting bad consumer & business debts from banks to the public, but the way this bank bailout got packaged is pretty nifty. Turkish President Recep Tayyip Erdoğan has launched a raft of measures ostensibly designed to reanimate the economy, including offering direct financial support for […]
