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Tag Archives: banking
Are We Headed for Another Bust?
Are We Headed for Another Bust? On Wednesday December 16, 2015, Federal Reserve Bank policymakers raised the federal funds rate target by 0.25 percent to 0.5 percent for the first time since December 2008. There is the possibility that the target could be lifted gradually to 1.25 percent by December next year. Fed policymakers have […]
Opinion: The banking system faces an existential threat — and it’s not bitcoin
Opinion: The banking system faces an existential threat — and it’s not bitcoin A movement in Europe would require banks to fully back deposits John Michael WrightIn 1666, King Charles II put control of the money supply into private hands. The privatization of the money-creation process gave birth to the system we use today. Christmas did […]
The Catastrophic Threat of Bail-Ins
The Catastrophic Threat of Bail-Ins It has now been more than two and a half years since the Cyprus Steal , the first “bail-in” perpetrated in the Western world, occurred. Before reviewing the history of this newest financial atrocity, it is necessary to define the terms. The term “bail-in” describes a scenario in which a bank confiscates private property […]
Happy New Year — Bail-In Passed for Europe’s Banks
Happy New Year — Bail-In Passed for Europe’s Banks The mainstream media is not extensively reporting on the “experimental” bail-in that the EU imposed on Cyrus. The bail-in, that they swore would never be applied to Europe, will officially begin in January. This new power will be in the interest of taxpayers as they will no longer […]
Reinventing Banking: From Russia to Iceland to Ecuador
Reinventing Banking: From Russia to Iceland to Ecuador Global developments in finance and geopolitics are prompting a rethinking of the structure of banking and of the nature of money itself. Among other interesting news items: In Russia, vulnerability to Western sanctions has led to proposals for a banking system that is not only independent of the […]
The Trouble With Financial Bubbles
The Trouble With Financial Bubbles Very soon after the magnitude of the 2008 financial crisis became clear, a lively debate began about whether central banks and regulators could – and should – have done more to head it off. The traditional view, notably shared by former US Federal Reserve Chairman Alan Greenspan, is that any […]
Fed Cred is Dead
Fed Cred is Dead The economy is a two-headed monster. One head is the trade in real goods and real services. The other head is the financialized traffic in swindles and frauds that surrounds banking. There is some deception and overlap about which is which. For instance so-called health care might be perceived as a […]
Where Candidates Fear to Tread
Where Candidates Fear to Tread That the snarkier circles of political commentary thrill to the elephantine bellowings of Donald J. Trump only shows the pathetic limitations of the snarkists. They enjoy Trump’s filterless mouth, his harsh goadings of the other presidential wannabes, and his supposed telepathic empathy for the suffering public outside the magic kingdom […]
Financial Shenanigans Should Have Trained Me For This
Financial Shenanigans Should Have Trained Me For This So there I was, caught in a bramble of sharp blackberry thorns coming from every direction. I’d been snagged first by the swooping thorn from high up that caught my hair, then by two more barbed branches that grabbed my pants and arm as I tried to […]
A Lesson From the Greek Crisis: Safe Deposit Boxes Are Not Safe
A Lesson From the Greek Crisis: Safe Deposit Boxes Are Not Safe Last week the Greek government imposed capital controls to prevent cash from escaping from the Greek banking system, which is on the brink of collapse. These repressive financial measures, which were invented by “Hitler’s banker” Hjalmar Schacht in the 1930s, include the closing of banks, limiting cash withdrawals from […]
The 75 Trillion Dollar Shadow Banking System Is In Danger Of Collapsing
The 75 Trillion Dollar Shadow Banking System Is In Danger Of Collapsing Keep an eye on the shadow banking system – it is about to be shaken to the core. According to the Financial Stability Board, the size of the global shadow banking system has reached an astounding 75 trillion dollars. It has approximately tripled in size […]
History in Free Verse
History in Free Verse History might not rhyme, exactly, but it’s not bad for free verse. Greece is this century’s Serbia — a tiny, picturesque backwater nation blundering haplessly into the center stage of geopolitics. And the European Union is, whaddaya know, Germany in drag, on financial steroids. Nobody knows what will happen next in […]
The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’
The Economic Depression In Greece Deepens As Tsipras Prepares To Deliver ‘The Great No’ As Greece plunges even deeper into economic chaos, Greek Prime Minister Alexis Tsipras says that his government is prepared to respond to the demands of the EU and the IMF with “the great no” and that his party will accept responsibility […]
Shots Fired – Jamie Dimon Questions Elizabeth Warren’s “Understanding of the Global Banking System”
Shots Fired – Jamie Dimon Questions Elizabeth Warren’s “Understanding of the Global Banking System” I think the following comments will come back to haunt Jamie Dimon. They represent the perspective of an out of touch, financial oligarch who is so consistently fed bullshit compliments by all those surrounding him, he has no idea how badly this […]
4 Factors Signaling Volatility Will Return With A Vengeance
4 Factors Signaling Volatility Will Return With A Vengeance Buckle up. It’s going to get bumpy. No one could have predicted the sheer scope of global monetary policy bolstering the private banking and trading system. Yet, here we were – ensconced in the seventh year of capital markets being buoyed by coordinated government and central […]
