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Tag Archives: central banks
Australia’s Bad Bet on China
Australia’s Bad Bet on China Wolf here: After any bubble, it’s always: “Nobody predicted the crash….” Central bankers don’t see bubbles. They’re not allowed to. At least officially, they don’t see them. And thus they can’t see the implosions coming. They can’t officially see these things because they help create them with their monetary policies. Industry insiders and their financiers don’t […]
ECB Prepares To Sacrifice Greek Banks With 50% Collateral Haircut
ECB Prepares To Sacrifice Greek Banks With 50% Collateral Haircut In what seems like a coincidental retaliation for Greece’s pivot to Russia (and following Greece’s initiation of capital controls), the supposedly independent European Central Bank has decided suddenly that – after dishing out €74 billion of emergency liquidity to the Greek National Bank to fund […]
One Last Look At The Real Economy Before It Implodes – Part 5
One Last Look At The Real Economy Before It Implodes – Part 5 Since I began writing analysis for the liberty movement more than eight years ago, I have always said that we will know when the endgame of the globalists is upon us when the criminals come out into the light of day and […]
Another Shill for Statism and Central Planning Demands a Cash Ban
Another Shill for Statism and Central Planning Demands a Cash Ban Citigroup’s Chief Economist Joins the Cash Ban Bandwagon We have discussed the views of Citigroup’s chief economist Willem Buiter previously in these pages (see “A Dose of Buiternomics” for details), on occasion of his coming out as a supporter of assorted monetary cranks, such […]
Why wobbly world markets are more worrying than oil: Don Pittis
Why wobbly world markets are more worrying than oil: Don Pittis Central bankers are out of bullets if 1929-level markets go bust again Bank of Canada governor Stephen Poloz says the “wobble” in the Canadian economy caused by the shocking fall in the price of oil is just about over. But according to some analysts, a more […]
None Dare Call It Fraud—–Its Just A “Savings Glut”
None Dare Call It Fraud—–Its Just A “Savings Glut” They were jawing again this morning about the low “natural rate” of interest on bubble vision, implying that the workers of the world have succumbed to an atavistic fit of wild-eyed thrift. Gosh, the world is so inundated in a savings glut, averred Wall Street economist Ed McKeon, that the interest rate would […]
Keep Pushing Until Something Really BIG Breaks?
Keep Pushing Until Something Really BIG Breaks? The minutes of the FOMC’s March meeting make clear just how hard it is for the Fed to even think about the possibility of unwinding what they’ve wrought. After six-plus years of interest-rate repression, absurdity has become the established norm. Now they can’t even figure out how to get out of it […]
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance
Eating The Seed Corn—–The Fed’s Horrid Corruption Of Corporate Finance Central bank financial repression results in the systematic and severe mispricing of financial assets. And that has sweeping consequences far beyond the munificent windfalls it bestows on the thin slice of mankind that frequents the casinos of Wall Street, London, Tokyo and Shanghai. The fact is, the […]
The Inevitable Failure of Mechanistic Monetary Policy
The Inevitable Failure of Mechanistic Monetary Policy Our current faith in central banks’ ability to “make the economy all better, all the time” is horrendously misplaced. We are living in the Cargo Cult Era of Central Bankers. The era began in earnest on December 5, 1996, when Federal Reserve chairman Alan Greenspan cautiously wondered aloud if […]
The Committee To Destroy The World
The Committee To Destroy The World Last month, the world mourned the death of beloved actor Leonard Nimoy. Mr. Nimoy, of course, was renowned for his portrayal of the iconic character Mr. Spock on the 1960s television series Star Trek. One of the most memorable Star Trek inventions was the transporter that allowed human beings […]
Why The Mania Is Getting Scary—-Central Bankers Are Running A Doomsday Machine
Why The Mania Is Getting Scary—-Central Bankers Are Running A Doomsday Machine If you need evidence that we are in the midst of a lunatic financial mania, just consider this summary from a Marketwatch commentator as to why markets are ripping higher this morning: “The dovish comments from both Fed Chairwoman Janet Yellen and People’s Bank of China […]
Recovery, Geopolitics and Detergents
Recovery, Geopolitics and Detergents Increasingly over the past year or so, when people ask me what I do, and that happens a lot on a trip like the one I’m currently on in the world of down under, I find myself not just stating the usual ‘I write about finance and energy’, but adding: ‘it […]
Finally The “Very Serious People” Get It: QE Will “Permanently Impair Living Standards For Generations To Come”
Finally The “Very Serious People” Get It: QE Will “Permanently Impair Living Standards For Generations To Come” When “very serious people” (even if it is those who once ran now defunct Bear Steanrs) announce it, with a 6 year delay, they make the Financial Times. On the other hand, when Zero Hedge said precisely this 6 […]
