Category: Global Financial System
The analysis published under this category are as follows.
Saturday, August 10, 2024
U.S. Trilogy: debt-based dollar and economy, stablecoin digital currency, BRICS new world. / Stock-Markets / Global Financial System
By: Raymond_Matison
Debt-based dollar and economy
Over a century ago the United States Congress approved a deceitfully promoted Federal Reserve Central Bank, which then established a new debt-based monetary system. Its concept of creating and introducing ever more currency into a country which had little debt, initially worked well to create economic stimulus at the time, and currency available to participate in WWI and WWII. That stimulus also bought forth the wild market speculation of the 1920s, the necessary precursor for tightening of credit and the Great Depression. Outlawing citizen ownership of real money (Constitutionally designated as gold and silver coins) in 1934, it required citizens to turn in their gold coins to banks, which were complicit with government to steal money from citizens as gold was then revalued by from $20.63 to $35.00 an ounce.
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Thursday, September 21, 2023
Why we won't see a repeat of the 1970's Rate Hikes / Interest-Rates / Global Financial System
By: Nadeem_Walayat
Doom merchants continue to run off to the 1970's rate hikes that culminated in eye watering 15% completely miss what's staring them in the face for why that CANNOT happen this time! It can't happen because Debt to GDP is triple that of the 1970's! 120% vs 40%, Raising the Fed funds rate to 15% again would be akin to a 45% rate today.
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Friday, October 30, 2020
A New World Monetary Order Is Coming / Stock-Markets / Global Financial System
By: MoneyMetals
The global coronavirus pandemic has accelerated several troubling trends already in force. Among them are exponential debt growth, rising dependency on government, and scaled-up central bank interventions into markets and the economy.
Central bankers now appear poised to embark on their biggest power play ever.
Federal Reserve Chairman Jerome Powell, in coordination with the European Central Bank and International Monetary Fund (IMF), is preparing to roll out central bank digital currencies.
The globalist IMF recently called for a new “Bretton Woods Moment” to address the loss of trillions of dollars in global economic output due to the coronavirus.
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Tuesday, September 29, 2020
Fractional-Reserve Banking Is The Elephant In The Room / Interest-Rates / Global Financial System
By: Kelsey_Williams
The expression “elephant in the room“…
“…an important or enormous topic, question, or controversial issue that is obvious or that everyone knows about but no one mentions or wants to discuss because it makes at least some of them uncomfortable or is personally, socially, or politically embarrassing, controversial, inflammatory, or dangerous. (source)
A wordy definition, yes; but it is applicable to our topic of Fractional-Reserve Banking. After reading the rest of this article, you should be able to see just how important and enormous Fractional-Reserve Banking is; as well as how dangerous.
Lets’s start with some history.
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Wednesday, November 13, 2019
What to Do NOW in Case of a Future Banking System Breakdown / Interest-Rates / Global Financial System
By: MoneyMetals
The banking system may not be as sound we’ve been led to believe. It continues to get propped up through central bank interventions, which strongly suggests it wouldn’t be able to stand on its own.
Last Thursday, the Federal Reserve injected another $115 billion into financial markets via “temporary operations.” The Fed is targeting the repo market in particular, through which banks lend to each other on an overnight basis.
For some reason, banks have grown weary of committing liquidity to each other in what should be one of the safest lending markets on the planet.
Monday, July 29, 2019
The Ever-Political IMF Meddlers Give Boris Johnson Unsolicited Advice / Politics / Global Financial System
By: Steve_H_Hanke
No sooner than Boris Johnson put his foot over the threshold of 10 Downing Street, the International Monetary Fund (IMF) offered its unsolicited advice to the newly elected Tory Prime Minister. Johnson won the right to replace the hapless Theresa May by pledging to remove Britain from the EU by October 31, 2019, “deal or no deal.”
Enter the IMF. In a preemptive strike, the Philosopher Kings threw cold water on the idea of a no deal, asserting that it would be a disaster. Talk about entering a domestic quarrel without an invitation.
But, such meddling is nothing new for the IMF. Indeed, a bipartisan Congressional commission (The International Financial Advisory Commission, known as the Meltzer Commission) concluded in 2000 that the IMF interferes too much in the domestic politics of member countries. Just recall the IMF’s involvement in toppling Indonesian President Suharto in 1998. This scandalous episode was confirmed by no less than former U.S. Secretary of State Lawrence Eagleburger. I would add that the IMF propensity to interfere has become much more pronounced since the days of the last great Managing Director of the IMF Jacques de Larosière (1978-1987).
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Monday, July 22, 2019
What the World Doesn’t Need Now is Lower Interest Rates / Interest-Rates / Global Financial System
By: Michael_Pento
The Q2 earnings season is upon us and the risks to the rally that started after the worst December on record at the close of last year is in serious jeopardy. We received a glimpse of this with some of the current companies that have reported. For example, to understand how dangerous this earnings reporting season can be, take a look at what one of the largest US multinational firms had to say recently after it reported earnings. The Minnesota-based Fastenal, which is the largest fastener distributor in North America, reported worse-than-expected second-quarter earnings and revenue. Shares of Fastenal promptly tanked more than 4%. But what the management said about the quarter was very interesting. The company said in its press release that its strategy to raise prices to offset tariffs placed to date on products sourced from China were not sufficient to also counter general inflation in the marketplace. Read full article... Read full article...
Thursday, April 18, 2019
Low New Zealand Inflation Rate Increases Chance of a Rate Cut / Interest-Rates / Global Financial System
By: ElliottWaveForecast
New Zealand CPI (Consumer Price Index) only grew by 0.1% in the three months to March with annual increase of 1.5%. This is well below the 0.3% rate expected by the market. The RBNZ (Reserve Bank of New Zealand) annual inflation target is between 1%-3%. The latest result falls at the lower end of the range. This has raised speculation that the RBNZ may cut official interest rate as early as next month.
Tuesday, February 12, 2019
Trump’s Quest to Undermine Multilateral Development Banks / Economics / Global Financial System
By: Dan_Steinbock
In the postwar era, the multilateral development banks were created to facilitate global trade. Today, they are ‘America First’ targets.Recently, the White House has been pushing its America First stance in the World Trade Organization (WTO) by controversial appeals to a “national security exception.” In response to the Trump tariffs, several WTO members have brought dispute settlement cases against the U.S.
World Bank is next in the firing line. Reportedly, the White House will announce David Malpass as the nominee for President of the World Bank, after Jim Yong Kim's resignation well before the end of his five-year term in 2022.
In the 2016 election, Malpass served as Trump’s economic advisor. A year later he was appointed Undersecretary for International Affairs in the U.S. Department of the Treasury. But he is an odd choice to head the World Bank - a bit like selecting a coal CEO to head the struggle against climate change.
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Thursday, May 03, 2018
Global Currency RESET Challenge: Ultimate Twist / Currencies / Global Financial System
By: Jim_Willie_CB
The Global Currency RESET has 100 steps and the first 10-12 appear complete. This is not a fantasy, but very real and in progress. Its progress is not very visible to most observers. Some important steps are seeing tremendous progress, but they are executed in the East with very little press coverage by the insidious lapdog Western press networks. Review many of the RESET features, but in summary form. These are covered steadily in the Hat Trick Letter reports.
Thursday, August 31, 2017
The Demise Of Libor Is Part Of A Massive Global Trend That Many Overlook / Interest-Rates / Global Financial System
By: John_Mauldin
BY XANDER SNYDER : For decades, the public put its trust in technocrats.
The thinking was that the economy and politics had become too complex for ordinary citizens to understand. And that the best way to handle it was to allow the experts to take over.
They were perceived to be skillful and knowledgeable enough to manage economically and politically important institutions (including banks).
The events of 2008–2009 shattered that belief.
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Friday, December 02, 2016
Is Japan About to Implode the $10T $USD Carry Trade? / Interest-Rates / Global Financial System
By: Graham_Summers
It is said that history has a sense of irony. The latest US election is not an exception.
Consider the following…
- Donald Trump campaigned aggressively on trade… particularly his opposing of the fact that the US gets taken advantage of by foreign nations via bad trade deals.
- Trump wins the Presidency on November 8, 2016.
- US trade gets royally screwed in the currency markets.
Friday, August 26, 2016
The IMF’s Internal Audit Reveals Its Incompetence and Massive Rule Breaking / Politics / Global Financial System
By: John_Mauldin
To understand the sordid tale of the IMF, we need to look back at Greece. We think of Greece as the epicenter of the eurozone debt crisis, but it had company.
As the Fed’s initial QE program pushed US stocks higher, Greece’s growing budget deficit led credit agencies to downgrade its sovereign debt rating in late 2009. So, the government cut spending… but not by enough.
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Thursday, August 25, 2016
The World’s Monetary System Is Broken & Costing Overseas Business / Stock-Markets / Global Financial System
By: Chris_Vermeulen
Low and negative yields mean that no one has the confidence to invest in real capital projects. Investors would much rather lose money over a 10-year horizon than invest in building dams, repairing pipes, creating better grids, starting new businesses, etc. A new monetary order must replace the existing one, and as soon as possible. It will likely be one that China is determined to dominate this time around.
Wednesday, July 13, 2016
Not Too Late For Real Money In A World, Distracted / Stock-Markets / Global Financial System
By: Dr_Jeff_Lewis
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. - Henry Ford
A recent IMF study estimated that the profits of the big banks in the United States are almost entirely due to the government sponsored backstops. It’s not just bailouts, but also cheap credit, and judicial negligence.
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Thursday, May 26, 2016
Bill Gross on the Fed, Short Credit, Japan and more / Interest-Rates / Global Financial System
By: Bloomberg
Janus Capital Management Fund Manager Bill Gross was interviewed by Erik Schatzker at the 2016 Blooomberg Fixed income Event at the Beverly Hills Hotel in California.
Gross shared his thoughts on: whether the Fed will move in June, how much that matters, Janus’ performance, trying to short credit, hedge fund fees, Japan’s fiscal policy and the currency market.
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Wednesday, November 18, 2015
The World's First Cashless Society Is Here - A Totalitarian's Dream Come True / Politics / Global Financial System
By: Casey_Research
By Nick Giambruno
Central planners around the world are waging a War on Cash. In just the last few years:
- Italy made cash transactions over €1,000 illegal;
- Switzerland proposed banning cash payments in excess of 100,000 francs;
- Russia banned cash transactions over $10,000;
- Spain banned cash transactions over €2,500;
- Mexico made cash payments of more than 200,000 pesos illegal;
- Uruguay banned cash transactions over $5,000; and
- France made cash transactions over €1,000 illegal, down from the previous limit of €3,000.
Friday, June 12, 2015
The Banking Game Exposed - Fast-tracking TiSA: Stealth Block to Monetary Reform / Stock-Markets / Global Financial System
By: Ellen_Brown
It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. — Attributed to Henry Ford
In March 2014, the Bank of England let the cat out of the bag: money is just an IOU, and the banks are rolling in it. So wrote David Graeber in The Guardian the same month, referring to a BOE paper called “Money Creation in the Modern Economy.” The paper stated outright that most common assumptions of how banking works are simply wrong. The result, said Graeber, was to throw the entire theoretical basis for austerity out of the window.
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Monday, June 01, 2015
Dangerous Debt Trend And What It Could Do to Your Wealth / Interest-Rates / Global Financial System
By: Investment_U
Andrew Snyder writes: It is a fascinating trend - something every investor must be aware of. It’s yet another reason interest rates are likely to stay lower for far longer than most folks ever expected.
If rates rise, after all, countless governments are in big trouble.
Everywhere we look, return-desperate investors are turning to the debt market and its virtually free money. It’s one thing when companies use borrowed money to buy their own shares. It’s a victimless crime.
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Wednesday, May 20, 2015
Will Interest Rates Ever Rise? / Interest-Rates / Global Financial System
By: BATR
Wrapped in a worldwide currency depression, the intentional zero interest rate strategy has fostered great damage to the practice of saving. Nevertheless, not everyone believes or blames central banksters for enacting a deliberate policy. Reporting on one such denier is UK columnist Jeremy Warner. He writes in the Telegraph article, When will interest rates rise? The way things are going, maybe never.
Monday, May 18, 2015
Interest Rates Spiking Everywhere / Interest-Rates / Global Financial System
By: John_Rubino
Just as ultra-low interest rates start to seem normal, the markets decide otherwise. US 10-year Treasury bonds yielded about 1.9% in April and are now above 2.20%:
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Tuesday, May 05, 2015
The Collapse of Cash / Interest-Rates / Global Financial System
By: Michael_Pento
Despite all of the central bank manipulations over the past seven years, it is finally becoming clear economies will not be able to achieve escape velocity. The U.S. central bank has the longest track record of treading down the path of monetary manipulations. And has achieved anemic average annual growth of 2.2% since 2010. Therefore, to further demonstrate the failure of money printing to engender economic growth, the dismal Q1 GDP read of just 0.2 % displays the failure of this policy once again. Wall Street Shills have been quick to once again blame snow in the winter for the Q1 miss. However, it is becoming evident that Q2 will not produce any such anticipated rebound.
Thursday, April 23, 2015
Distorted Financial System Expect Deflation, Inflation And Hyperinflation / Stock-Markets / Global Financial System
By: GoldSilverWorlds
Which ‘flation will it be? Deflation or inflation or both? Looking at the BIG PICTURE …
CRB: Deflationary pressures are clearly seen in commodities prices, which are currently at 2009 levels, at the depth of the collapse, as evidenced by the CRB (a proxy for commodities).
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Thursday, April 09, 2015
U.S. Hegemony and Dollar Threatened By New Chinese Bank / Stock-Markets / Global Financial System
By: GoldCore
- Chinese Success in Attracting Major Western Countries to New Bank Marks Beginning of New Era
- Diverse members include UK, Israel, Germany, Australia and Russia and Iran
- Demonstrates the degree to which U.S. global influence is declining
- U.S. needs to reform its approach to IMF and World Bank system if it to successfully reassert its influence
- U.S. “Failure of Strategy and Tactics was a Long Time Coming”
- Beijing’s challenge to post-World War II financial and monetary order
- New bank shows continuing decline of U.S. hegemony and dollar as reserve currency
Monday, April 06, 2015
Portrait of the Classical Gold Standard / Economics / Global Financial System
By: MISES
Marcia Christoff-Kurapovna writes: "The world that disappeared in 1914 appeared, in retrospect, something like our picture of Paradise," wrote the economist Cecil Hirsch in his June 1934 review of R.W. Hawtrey’s classic, The Art of Central Banking (1933). Hirsch bemoaned the loss of the far-sighted restraint that had once prevailed among the "bankers' banks" of the West, concluding that modern times "had failed to attain the standard of wisdom and foresight that prevailed in the 19th century."
Wednesday, April 01, 2015
Iceland Ponders Radical Banking Plan to Eliminate Fractional Reserve Lending / Interest-Rates / Global Financial System
By: Mike_Shedlock
I have long railed against fractional reserve lending, duration mismatches (e.g. banks issuing 2-year CDs and lending money for 15-year mortgages), bank's ability to lend money into existence, and deposit insurance.
Fractional reserve lending allows banks to lend out a near infinite amount of credit with essentially no backing. Money inevitable creates asset bubbles, but as long as the bubbles are expanding it appears the system is solvent.
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Tuesday, March 31, 2015
U.S. Isolated in Opposition to Chinese Bank / Politics / Global Financial System
By: John_Browne
Over the past few decades while the economic power of the Chinese has grown exponentially, many observers have been surprised by the relative willingness of China to operate within the financial and economic framework established by the dominant Western order. But it should now be blatantly clear that Beijing prefers to act slowly, deliberately and quietly to advance its agenda. This is the case with the establishment of the Asian Infrastructure Investment Bank (AIIB), a Chinese-led lending institution which could emerge as an international rival to the World Bank and the International Monetary Fund. Such an institution could support Beijing's political interests by controlling the flow of infrastructure financing that is vital for developing economies. As we all know, money can often buy loyalty.
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Monday, March 16, 2015
Margin Call from Hell - Why Strong Dollar Leads to Deflation, Recession and Crisis / Politics / Global Financial System
By: Mike_Whitney
The crisis that began seven years ago with easy lending and subprime mortgages, has entered its final phase, a currency war between the world’s leading economies each employing the same accommodative monetary policies that have intensified market volatility, increased deflationary pressures, and set the stage for another tumultuous crack-up. The rising dollar, which has soared to a twelve year high against the euro, has sent US stock indices plunging as investors expect leaner corporate earnings, tighter credit, and weaker exports in the year ahead. The stronger buck is also wreaking havoc on emerging markets that are on the hook for $5.7 trillion in dollar-backed liabilities. While most of this debt is held by the private sector in the form of corporate bonds, the stronger dollar means that debt servicing will increase, defaults will spike, and capital flight will accelerate. Author’s Michele Brand and Remy Herrera summed it up in a recent article on Counterpunch titled “Dollar Imperialism, 2015 edition”. Here’s an excerpt from the article:
Wednesday, February 25, 2015
Lowest Interest Rates For 3000 Years! / Interest-Rates / Global Financial System
By: John_Rubino
Business Insider's Myles Udland just posted a chart, drawn from research by the Bank of England, showing interest rates for the past 3,000 years. And for all those who've been feeling like today's "new normal" is actually profoundly abnormal, here's your proof. It turns out that interest rates, both long and short-term, are lower than they've ever been. Not lower than in this cycle, or post-war or in the past century, but ever, going back to the earliest days of markets.
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Monday, January 26, 2015
How Global Interest Rates Deceive Markets / Interest-Rates / Global Financial System
By: John_Mauldin
“You keep on using that word. I do not think it means what you think it means.”
– Inigo Montoya, The Princess Bride
“In the economic sphere an act, a habit, an institution, a law produces not only one effect, but a series of effects. Of these effects, the first alone is immediate; it appears simultaneously with its cause; it is seen. The other effects emerge only subsequently; they are not seen; we are fortunate if we foresee them.
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Wednesday, December 03, 2014
Lower Interest Rates Forecast for 2015 / Interest-Rates / Global Financial System
By: DailyWealth
Steve Sjuggerud writes: "It seems to me almost unthinkable that U.S. interest rates could rise in any meaningful way," Jeff Gundlach said on CNBC last week.
Jeff Gundlach is "The New Bond King" according to Forbes.
To be crowned King of the bond world, you must know interest rates better than anyone else on the planet. Gundlach has earned his place.
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Saturday, November 22, 2014
Global Economies Will Dictate Interest Rate Hike Timing / Interest-Rates / Global Financial System
By: Sy_Harding
The Federal Reserve spent this year winding down its $85 billion a month QE stimulus program. With that task completed, the hot topic of analysts, and concern of markets, is how soon the Fed will take the next step in moving back toward normal monetary policies. That is, when will it begin raising interest rates from the current near-zero levels back toward normal?
Monday, September 29, 2014
The End of Monetary Policy / Politics / Global Financial System
By: John_Mauldin
We are the hollow men
We are the stuffed men
Leaning together
Headpiece filled with straw. Alas!
Our dried voices, when
We whisper together
Are quiet and meaningless
As wind in dry grass
Or rats’ feet over broken glass
In our dry cellar…
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.
– T. S. Eliot, “The Hollow Men”
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Monday, September 08, 2014
As ISDAFIX Becomes Next LIBOR, Can GOFO Manage To Avoid The Spotlight? / Interest-Rates / Global Financial System
By: GoldCore
In the wake of the recent LIBOR benchmark interest rate rigging scandal and successful prosecution of a number of global investment banks for participating in LIBOR manipulation, a new interest rate rigging scandal is gathering steam.
Allegations surfaced last year that ISDAFIX, a similar global interest rate benchmark, had been rigged by a group of global banks, and these allegations are under investigation by a number of regulators including the US CFTC and the UK FCA. While the regulators have not provided any feedback as of yet, the class action suits by impacted investors are now beginning.
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Wednesday, August 13, 2014
Interest Rate Policy Global Divergence - Really? / Interest-Rates / Global Financial System
By: Axel_Merk
If you own dollars, the euro or gold, you might want to pay attention to this one.
What could possibly be wrong with conventional wisdom? It shouldn't be a surprise that pundits merely regurgitate what others say. But why would Draghi join the fray? It turns out, he has a vested interest in the 'policy divergence' view, as promoting it might help to weaken the euro. If indeed the U.S. interest rate path is upward, while rates in the Eurozone stay lower for longer, it might justify a weaker euro.
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Wednesday, August 06, 2014
Confusing Capitalism with Fractional Reserve Banking / Interest-Rates / Global Financial System
By: Frank_Hollenbeck
Today, capitalism is blamed for our current disastrous economic and financial situation and a history of incessant booms and busts. Support for capitalism is eroding worldwide. In a recent global poll, 25 percent (up 2 percent from 2009) of respondents viewed free enterprise as “fatally flawed and needs to be replaced.” The number of Spaniards who hold this view increased from 29 percent in 2009 to 42 percent, the highest amongst those polled. In Indonesia, the percentage went from 17 percent to 32 percent.
Wednesday, July 09, 2014
Impact of IMF SDRs on Commercial Trade / Politics / Global Financial System
By: BATR
The global corporatist economy works differently from business transactions at your neighborhood convenience store. Ostensibly, the International Monetary Fund was set up to allow the G20 nations to umpire the ground rules to play nice in macro trade. Platitudes about promoting job growth or third world development are the realm of public relations for the central banks. The impact of the IMF on virtually all countries, vividly seen in every crisis whether real or contrived, always has a political objective that underpins the economic functions. As confidence in national currencies falter, the big sugar daddy loves to intervene, provided they pull the strings.
Wednesday, May 28, 2014
Capital Controls Rolling Into High Gear Under FATCA / Politics / Global Financial System
By: Jeff_Berwick
The traditional banking system was already bad enough but now, with banks around the world rushing to comply with the Foreign Account Tax Compliance Act (FATCA) it is beginning to reach extreme levels. And it isn't just affecting the most financially restricted people on Earth: US citizens... it is affecting everyone.
Take myself for example. I operate numerous businesses worldwide. I am a Canadian citizen as well as the citizen of a Caribbean country and our business operations are also operated out of a non-tax jurisdiction in the Caribbean. On top of that we hold no bank accounts, whatsoever, in the US... instead, we have bank accounts all over the world.
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Thursday, April 03, 2014
3 First Steps To Cleanse The Economic System / Politics / Global Financial System
By: Raul_I_Meijer
Since we can all attest to the fact that our financial banking economic system is bust and busted, we should probably look at ways to repair and cure it. And we don’t want to wait for the system to repair itself from the inside with the aid and abetment of its political stooges, revolving door and otherwise, because that will only lead to everyone else paying through the nose for a system they didn’t break to begin with. If we don’t seize control over this ourselves, it will never be cured, and the guys that went for broke and succeeded will make out like bandits and disappear like thieves into the night, leaving us with enough damage to last for multiple and miserable generations.
Wednesday, November 13, 2013
Public Banking in Costa Rica: A Remarkable Little-Known Model / Politics / Global Financial System
By: Ellen_Brown
In Costa Rica, publicly-owned banks have been available for so long and work so well that people take for granted that any country that knows how to run an economy has a public banking option. Costa Ricans are amazed to hear there is only one public depository bank in the United States (the Bank of North Dakota), and few people have private access to it.
Thursday, May 23, 2013
Why The Petrodollar System Is Crippled / Politics / Global Financial System
By: Andrew_McKillop
BRETTON WOODS BREAKDOWN, VIETNAM AND THE GREAT SOCIETY
For Jerry Robinson (http://ftmdaily.com/documents/Preparing-for-the-Collapse-of-the-Petrodollar-System.pdf) the reasons why the so-called Petrodollar System must collapse is ultimately because the political and monetary drivers of the system date back to the fast-fading times of 1945-1971 when the the USA's global hegemony and monetary power was almost unchallenged.
Tuesday, January 29, 2013
Hackers and the Alternatives to the Global Financial System / Politics / Global Financial System
By: Submissions
Keith Hilden writes: We find ourselves as a world currently at a pivotal point where the current maligned global financial system is falling way to multiple alternatives as new global financial system models emerge as solid competitors. Hackers will undoubtedly prove themselves as a disruptor to the alternative new financial system frameworks that emerge, and will sculpt the initial framework into its matured institutional state. Due to the leverage that hackers will possess, emerging alternative global financial system frameworks will be heavily influenced by hackers. Simply said, regardless of which global financial alternative is chosen, hackers will own the day. And investment into cybersecurity firms products and services will absolutely skyrocket.
Wednesday, January 09, 2013
Can Banks Really Just Create Money? / Interest-Rates / Global Financial System
By: Paul_Tustain
It's the banks, not their customers, who actually wind up owing each other money...
OBSERVERS of Fractional Reserve Banking have noticed that your deposit into a bank can cause the bank to offer new loans well above and beyond the size of your deposit.
Those watchers often object on the grounds that this is new money which shouldn't have been created.
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Monday, December 17, 2012
67 Trillion Reasons to be Cheerful, the Shadow Banking System / Stock-Markets / Global Financial System
By: Submissions
David Rose writes: The much-maligned ‘shadow banking’ sector has so far been accused of causing the global financial crisis, restricting access to capital and, probably, global warming too. But maybe the time has come to bring ‘shadow banking’ out of the shadows and into the light, so that the discussion can become a little more constructive.
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Friday, June 15, 2012
Anti-Fragile Banking / Interest-Rates / Global Financial System
By: William_Bancroft
We’ve been big fans of the author and academic, Nasim Nicholas Taleb, for some time. We have enjoyed his best-selling book, ‘The Black Swan’, his media appearances and have used his work to find other interesting works by the likes of Benoit Mandelbrot.
A central theme in Taleb’s writing is that systems should be built not just to withstand 99% of scenarios, but all scenarios. A bit like saying we should build a house that stands for 365 days a year, not one that stands for 364 days only to be toppled by the perfect storm.
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Monday, April 16, 2012
Another Gust of Stench from IMF / Politics / Global Financial System
By: Pravda
International Monetary Fund Senior Resident Representative in Russia, Odd Per Brekk has recently made a surprisingly lucrative suggestion to the international community. According to Mr. Brekk, one should invest their money in the development of national economies rather than saving up the funds on bank accounts. If something happens, the IMF will be there to help the country in trouble. The idea seems to be perfect, but there is a downside to it.
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Tuesday, May 31, 2011
IMF Make or Break Time / Politics / Global Financial System
By: Andrew_McKillop
The IMF's real goal, today, has mutated from supplying rapid aid to countries in balance of payments crisis (BOP crises) and more vague official goals for stabilizing exchange rates, aiding the growth of world trade, fighting poverty and newer elite fear themes, most recently global warming until its sudden fall from grace, after the disastrous and embarrassing Copenhagen "summit" of Dec 2009. Since the collapse of global warming as the underlying theme for generating new underlying financial assets, tied to emissions credits and carbon finance and thought able to generate at least one $ 100-billion-plus new funding vehicle for the IMF, it has shifted to its last and probably make or break role.
Thursday, May 26, 2011
Why the IMF is a Drain on Your Wallet / Politics / Global Financial System
By: Money_Morning
Martin Hutchinson writes: Dominique Strauss-Kahn's forced resignation from the International Monetary Fund - and the search for an IMF successor - is a blessing in disguise. Strauss-Kahn's term in office saw a vast expansion of the IMF's activities, a fact often used to praise his tenure.
Thursday, May 26, 2011
Pro Bank Bailout Christine Lagarde IMF Shoo In Replacement for Strauss-Kahn / Politics / Global Financial System
By: Mike_Whitney
French Finance Minster Christine Lagarde has emerged as the front-runner in the race to replace ex-IMF chief Dominique Strauss-Kahn. She is a champion swimmer, an accomplished attorney, and a competent bureaucrat. She's also a friend of Wall Street who will ferociously defend the interests of big capital. Research assistant for the far-right American Enterprise Institute Jurgen Reinhoudt notes that under "France's free-market oriented economics minister"..."the top income tax rate was cut and, in a frontal assault on the 35-hour workweek, overtime work for hourly workers was made tax-free." (Don't Give Up on Sarkozy Just Yet, AEI)
Sunday, May 22, 2011
After The Sleaze Story : The Complex Wake Of The Strauss-Kahn Affair / Politics / Global Financial System
By: Andrew_McKillop
What can be called the liberal media has gone into high gear on this sex scandal with all the body fluid details needing round-the-clock reporting from drab and repressive prison buildings and crowded court rooms as well as chic downtown high-rent apartment blocks. To be sure, the IMF and what this director was doing at the IMF almost never features, lkely because it is so much complex than anal sex and therefore very boring for average consumers of pap media.
Friday, May 20, 2011
The Battle for New IMF Managing Director Between Emerging and Developed Countries / Politics / Global Financial System
By: Money_Morning
Kerri Shannon writes:
Dominique Strauss-Kahn resigned as leader of the International Monetary Fund (IMF) late Wednesday night, triggering a global battle between developed economies and emerging markets to find a new IMF managing director.
Strauss-Kahn, who was arrested May 14 on sexual assault charges, said in a statement released yesterday (Thursday) morning that he felt "compelled" to resign.
Read full article... Read full article...
Thursday, May 19, 2011
Dominique Strauss-Kahn Was Tying to Torpedo the Dollar / Politics / Global Financial System
By: Mike_Whitney
It's all about perception management. The media is trying to dig up as much dirt as they can on Dominique Strauss-Kahn so they can hang the man before he ever sees the inside of a courthouse. It reminds me of the Terry Schiavo case, where devoted-husband Michael was pegged as an insensitive slimeball for carrying out the explicit wishes of his brain-dead wife. Do you remember how the media conducted their disgraceful 24 hour-a-day Blitzkrieg with the endless coverage of weepy Christian fanatics on the front lawn of the hospital while Hannity, Limbaugh and O' Reilly fired away with their sanctimonious claptrap?Read full article... Read full article...
Thursday, May 19, 2011
The Coming IMF Crisis / Politics / Global Financial System
By: Andrew_McKillop
AFTER STRAUSS-KAHN - Countries pushing for a quick resignation of disgraced IMF chief Strauss-Kahn, and others arguing a slower approach underline by coded messages who stands to gain or lose when a new IMF chief is named by a weighted majority vote at the IMF's 24-person executive board. But whoever wins, we all lose when the IMF-run gold laundering and illicit or 'gray' capital recycling operations get known.
Monday, April 18, 2011
Bretton Woods II - The Final Enslavement of Mankind, Totalitarian Collectivism / Politics / Global Financial System
By: BATR
“The rising powers must be present at the creation of this new system in order to ensure that they will be active supporters.” - George Soros
Friday, February 11, 2011
The Illuminati's Secret 20 Trillion Dollar Bank / Politics / Global Financial System
By: Chris_Kitze
Zen Gardner writes: Of all the scams, the worldwide banking system is one of the most mind-boggling. Never mind the entire false premise of fiat money and the debt system, that vast amounts of this illusory "currency" get shifted every micro-second just begs deceit and piracy.
Tuesday, December 14, 2010
The IMF and the ECB on Perfecting Stupidity / Politics / Global Financial System
By: Richard_Daughty
This week's winner of the coveted Mogambo Bluster And Incompetence Award (MBAIA) goes to Dominique Strauss-Kahn, the Managing Director of the International Monetary Fund.
I will skip the part where I heap disdain on the IMF and say rude things like how I think that the IMF is a worthless bunch of incompetent, self-serving, socialist scumbags.
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Monday, November 22, 2010
Global Monetary Policy - Negligence, Ignorance or Fraud? / Interest-Rates / Global Financial System
By: The_Gold_Report
Recovery? What recovery? With more money in circulation than ever before in history, Midas Letter Editor James West asks, "Where's all the money?" The government would have us believe a "recovery" is underway and that we're all firmly back on the road to prosperity. "A recovery is underway," says James, "but those elements of the global economy that are recovering aren't in the economic interests of most planetary citizens." In this Gold Report exclusive, James looks beyond media talking heads and rosy governmental economic forecasts to ponder the eventual consequences of a regulatory framework that is fractured and impotent.
Monday, November 15, 2010
G20 Summit Fails to Resolve Global Trade and Currency Conflicts / Politics / Global Financial System
By: Barry_Grey
The G20 summit of leading economies held in Seoul, South Korea concluded Friday without any agreement on policies to bridge differences over global currency and trade issues that have grown increasingly bitter in recent weeks.
President Barack Obama failed to obtain a consensus to demand that China allow its currency, the renminbi (also known as the yuan), to appreciate more rapidly. But the US continued to defend its policy of printing hundreds of billions of dollars, dismissing complaints from countries ranging from Germany, Japan and China to Brazil, Thailand and South Africa that Washington is deliberately devaluing the dollar in order to obtain a trade advantage over its competitors.
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Wednesday, November 10, 2010
Will G20 Take a Collective Stand on Capital Controls? / Politics / Global Financial System
By: Global_Research
Kavaljit Singh writes: Leaders of the G20 will meet in Seoul on Nov. 11 and 12 to discuss a myriad of issues concerning global financial stability and economic recovery. In many ways, the G20 Seoul Summit is significant because for the first time it is hosted by a non-G8 nation and one in Asia too.
The two-day Seoul summit covers an expansive agenda, ranging from global safety nets to new rules on bank capital and liquidity requirements to reforming the International Monetary Fund (IMF).
Read full article... Read full article...
Wednesday, November 10, 2010
World Bank Head Calls for Monetary System Linked to Gold / Politics / Global Financial System
By: Barry_Grey
In the run-up to the G20 summit of leading economies, to be held Thursday and Friday in Seoul, the president of the World Bank has published a column in the Financial Times calling for a fundamental revamping of the global currency system involving a lesser role for the US dollar and a modified gold standard. The Financial Times underscored the significance of the column by making it the subject of its front-page lead article on Monday.
Wednesday, November 03, 2010
Global Monetary System in Crisis, Currency War Is Leading to Trade War / Politics / Global Financial System
By: Bob_Chapman
The UK, Europe, the US and Canada are different degrees of welfare states. By way of regulation, government controls via taxation. The states and their inhabitants send taxes to Washington, which takes its cut and sends funds back to the states with strings attached. You either do what we want you to do, or we cut off your funds. The states and the people are subject to extortion with government using their funds to do so. By using regulations, welfare and extortion, the federal government creates dependency.
Saturday, October 30, 2010
The Global Monetary System is in Crisis / Politics / Global Financial System
By: Bob_Chapman
The recognition of currency war, which has been going on for years, reflects the failure of international cooperation and the failure the G-20 to find a solution of the beggar-thy-neighbor policies of almost every nation. The result has been growing geopolitical dislocation, which G-20 has yet to find a solution for. These efforts, until recently, were turned upside down by the failure of the Copenhagen Summit in the summer of 2009, when it was discovered that global warming was a giant scam.
Wednesday, October 27, 2010
Global Banking System, Is There Life After Sudden Death? / Economics / Global Financial System
By: Professor_Emeritus
The debate on the Real Bills Doctrine (RBD) within the sound money movement is important because the international banking system, financing world trade as well as domestic trade, is facing its greatest challenge in all history. Indeed, it may succumb to the sudden death syndrome, and all efforts to resuscitate it may fail. Worse still, banks have by now acquired such a bad name, and they have earned such a universal hatred for their role in the global destruction of capital and of individual savings, that any new financial institution in whose name the word "bank" figures may be rejected out of hand by the people, should anyone try to make a fresh start in the banking business after the collapse.
Saturday, October 23, 2010
China Rejects G20 New Trade Currency Rules and Limits / Politics / Global Financial System
By: Submissions
Tehran writes: China rejects any form of rules on currency policy and exports limits among world’s industrialized nations, Reuters reported from South Korea where the G20 meeting is being held this weekend.
Many observers expect the US treasury secretary Timothy Geithner is going to pressure China to accept a new system of currency valuation in which Beijing would agree to allow its currency fluctuate freely and not be pegged to US dollar like the way it’s currently. The move - if accepted by China - should make Chinese industrial products more expensive and therefore reduce trade imbalance in US favor.
Read full article... Read full article...
Friday, October 15, 2010
Financial Markets Tensions Rise as Global Policymakers Part Ways / Politics / Global Financial System
By: Mike_Larson
The tension out there is so thick you can cut it with a knife. I’m talking about the tension building between central bankers and policymakers in developed nations and their counterparts in so-called emerging market countries.
On the one hand, you have policymakers here, in Japan, and in England promising to print money until the cows come home. Their aim is to boost their faltering domestic economies and combat deflation.
Read full article... Read full article...
Tuesday, October 12, 2010
BCCI Operations. Inside the Global Banking Intelligence Complex / Politics / Global Financial System
By: David_DeGraw
To get a more complete understanding of our current crisis, we need to look at the history of events that led up to it. We need to peer deeply into the inner workings of the Global Banking Intelligence Complex. Without acknowledging and exposing the covert forces that are aligned against us, we will not be able to effectively overcome them.
In the past I have shied away from going too deeply into the details of the intelligence world out of fear of being written off and dismissed as a conspiracy theorist. If I hadn’t spent the majority of the past 20 years investigating global financial intelligence operations, I certainly wouldn’t believe half of this myself. Given the severity of our current crisis and the imminent devastating implications, I now realize that I must go deeper into covert activities than I publicly ever have. The information I am about to report is very well-sourced and documented, and needs to be covered before we can proceed to exposing present operations.
Read full article... Read full article...
Monday, July 05, 2010
The IMF Wants to Take Over the World, Banking Colossus in the Making / Politics / Global Financial System
By: Michael_S_Rozeff
How long did it take to build the Federal Reserve System? Nineteen years. The various interests created and debated banking reform between the years 1894 and 1913. This is documented by Elmus Wicker in his little book The Great Debate on Banking Reform: Nelson Aldrich and the Origins of the Fed.
Wednesday, June 23, 2010
Gold and the Architecture for a New World Financial System / Politics / Global Financial System
By: Professor_Emeritus
The Symposium was held at the historic town of Hall in Tirol, Austria, for a good reason. Hall in Tirol (just east of Innsbruck) had been the “monetary capital” of Europe for centuries.
It all started in 1477 with the moving of the Mint from Meran in South Tirol (now part of Italy) where it had been operating since 1271, to Burg Hasegg in Hall, by Archduke Sigismund of Austria (1427-1496). At the same time the Archduke instituted important monetary reforms. He opened the Mint to silver. As a result, silver mining was revived in the valleys of Tirol, and new mining methods and technology were developed. Ultimately, the much-debased coinage of Medieval Europe was replaced by sound currency that brought heretofore unprecedented prosperity to the people of Renaissance Europe. The currency reform of Archduke Sigismund has laid the foundations for the architecture of a new world financial system.
Read full article... Read full article...
Monday, June 14, 2010
The Fractional Reserve Banking System Explained / InvestorEducation / Global Financial System
By: Robert_Murphy
Austrian economics is superior to Marxism in every respect, and this includes internal, sectarian squabbles. When we Austrians feel the time is ripe for another bloodletting — it keeps us strong by thinning the herd once in a while — we argue over fractional-reserve banking.
If you have never had the pleasure of watching such fireworks, I point you to Joe Salerno's recent blog post; it has enough links to bring you up to speed. In the present article, I want to walk through a simple example to make sure everyone understands exactly why some of us think fractional-reserve banking is just plain weird.
Read full article... Read full article...
Friday, April 30, 2010
Russian Hackers Threaten the World / Politics / Global Financial System
By: Pravda
According to Symantec, the number of cyber crimes last year has increased twofold and continues to grow, while the number of hacker attacks has increased by 71%. Within the last year nearly 3 million viruses were registered. Russia shot significantly ahead and made it to seventh place among top ten countries producing the most cyber threats.
Read full article... Read full article...
Saturday, March 20, 2010
London and New York Tie as Top Global Financial Centres, Asia Catching Up Fast / Politics / Global Financial System
By: Pravda
In the rating of global financial centers created by Z/Yen Group Ltd., Moscow dropped from 67th to 68th place out of 75 available. There were some changes on the top of the list as well. London, despite being a leader, has to share the top place with New York as both cities received 775 points out of 1,000 available.
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Tuesday, February 23, 2010
A Parable About How One Nation Came to Financial Ruin / Politics / Global Financial System
By: Trader_Mark
While Warren Buffet gets all the press and is a media darling, his partner who works in shadows is a person I find much more interesting. Perhaps because Charlie Munger is one blunt son of a gun as we saw a year ago [May 3, 2009: Berkshire Hathaway's Charlie Munger Says 'Venal' Banks May Avoid Needed Reform]
Friday, January 15, 2010
Bilderbergs of the World Unite! / Politics / Global Financial System
By: William_Bowles
Read full article... Read full article...
And just in case you still haven’t got the point, the same Heritage Foundation document, dated 25 September, 2002 went on to tell us,
Wednesday, October 28, 2009
SDR Global Currency Power Shift Underway / Currencies / Global Financial System
By: Doug_Wakefield
On Monday, November 2nd, it will have been seven months since the G20 met in London to expand the international currency known as the Special Drawing Rights. If you want to brush up on the background of this international currency, our November 2008 newsletter, states:
Thursday, October 08, 2009
Bankster's Bait and Switch Fractional Reserve Banking System / Politics / Global Financial System
By: Gary_North
The phrase "bait and switch" refers to a sales practice of advertising a desirable item at a low price to get potential buyers into a showroom. Then the salesman tells the shopper that the firm has run out of the sought-after item. The salesman then uses his sales skills to sell the shopper a more expensive item.
This practice is illegal. It is a form of fraud. It steals time from the shoppers.
Read full article... Read full article...
Sunday, September 06, 2009
Financial and Geopolitical Intelligence, Gain From the Banking Cartel Game Plan / Politics / Global Financial System
By: DeepCaster_LLC
Studying The Cartel* Game Plan, to the (considerable) extent that that Plan can be inferred from Cartel actions and their consequences (see below), can be a significant aid in making profitable investment decisions.
Asking key questions which arise from market or economic developments which appear to be rationally inexplicable, often reveals important aspects of that Game Plan.
Read full article... Read full article...
Thursday, September 03, 2009
American Monetary Institute 2009 Conference: “We Shall Prevail” / Politics / Global Financial System
By: Richard_C_Cook
The world’s most important gathering of monetary reformers takes place each year in Chicago at the American Monetary Institute’s annual conference. This year’s event takes place September 24-27 at Roosevelt University. Chairing the conference is Stephen Zarlenga, AMI director and author of the landmark book “The Lost Science of Money.” For information and the list of speakers, including monetary economist Michael Hudson, see the AMI website at http://www.monetary.org/2009schedule.html. While personal matters will prevent me from appearing on-site, I have sent the following remarks. Segments of my six-part DVD, “Credit as a Public Utility,” will also be shown.
Monday, August 24, 2009
U.S. Dollar the Achilles’ Heel of the Worlds Financial System / Currencies / Global Financial System
By: LewRockwell
Bill Bonner writes: The dollar fell to $1.42 per euro yesterday. Many believe it is the Achilles’ heel of the entire world financial system – and Warren Buffett is among them.
Tuesday, August 04, 2009
Controlling the Global Economy: Bilderberg, the Trilateral Commission and the Federal Reserve / Politics / Global Financial System
By: Global_Research
Andrew Gavin Marshall writes: This essay is Part 3 of "Global Power and Global Government," published by Global Research.
Part 1: Evolution and Revolution of the Central Banking System
Part 2: Origins of the American Empire: Revolution, World Wars and World Order
Wednesday, July 29, 2009
One World Currency is Inevitable / Currencies / Global Financial System
By: Christopher_Laird
I know it sounds impossible, but the world is being forced to a point of having to implement a one world currency. Or at least a one world currency among the major economies – maybe Tunisia might escape.
Thursday, July 23, 2009
Towards Integration of the U.S. Dollar and the Euro into a New Global Currency / Currencies / Global Financial System
By: Global_Research
Michel Chossudovsky writes: With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF's Special Drawing Rights (SDRs).
The media has presented the global currency initiative as a consensus building process, in which BRIC countries (Brazil, Russia, India and China) would participate in the revamping of the international monetary system.
Tuesday, June 23, 2009
BIS Global Big Brother, Trading Financial Stability for National Sovereignty? / Politics / Global Financial System
By: Global_Research
Ellen Brown writes: Buried on page 83 of the 89-page Report on Financial Regulatory Reform issued by the U.S. Administration on June 17 is a recommendation that the new Financial Stability Board strengthen and institutionalize its mandate to promote global financial stability. Financial stability is a worthy goal, but the devil is in the details. The new global Big Brother is based in the Bank for International Settlements, a controversial institution that raises red flags among the wary . . . .
Thursday, June 18, 2009
BRIC's Moving Towards a New Financial World Order / Currencies / Global Financial System
By: Global_Research
Natalia Kovalenko writes: During their summits in the Russian city of Yekaterinburg on Tuesday, SCO and BRIC members urged the creation of a new global financial security system, reiterating their drive to act in concert to weather the economic meltdown.
Read full article... Read full article...
Sunday, June 14, 2009
De-Dollarization, Dismantling America’s Financial-Military Empire / Politics / Global Financial System
By: Global_Research
Michael Hudson writes: The Yekaterinburg Turning Point - The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial order was brought to ground.
Friday, June 05, 2009
Balance of Global Financial Power Shifting to China / Politics / Global Financial System
By: Money_and_Markets
Mike Larson writes: So this is what it’s come to: Our Treasury Secretary, Timothy Geithner, has to jet off to Beijing to beg for mercy from our biggest global creditor.
He has to sit by and be lectured in the ways of finance by Chinese officials.
Read full article... Read full article...
Thursday, June 04, 2009
A Structural Change in the Global Debt Based Financial and Economic System / Economics / Global Financial System
By: Submissions
Brett Jordaan writes: What politicians and central bankers around the world are either neglecting to tell us, or to consider, is that the current economic crisis, now a global recession and fast becoming a depression, is a result of a fundamental structural shift in the very makeup of the world economy. The credit crisis is widely accepted as the trigger for the current economic woes, but those who take a broad view of the world will see that our current predicament was actually years in the making, and ultimately, inevitable. As inevitable as the collapse of a house of cards, or the implosion of a Ponzi scheme. In fact, the global monetary system actually fits the description of a Ponzi scheme.
Monday, June 01, 2009
True Story of the Bilderberg Group and What They May Be Planning Now / Politics / Global Financial System
By: Stephen_Lendman
For over 14 years, Daniel Estulin has investigated and researched the Bilderberg Group's far-reaching influence on business and finance, global politics, war and peace, and control of the world's resources and its money.
His book, "The True Story of the Bilderberg Group," was published in 2005 and is now updated in a new 2009 edition. He states that in 1954, "the most powerful men in the world met for the first time" in Oosterbeek, Netherlands, "debated the future of the world," and decided to meet annually in secret. They called themselves the Bilderberg Group with a membership representing a who's who of world power elites, mostly from America, Canada, and Western Europe.
Tuesday, May 26, 2009
Bilderberg Plan For Remaking the Global Political Economy 2009 / Politics / Global Financial System
By: Global_Research
Andrew G. Marshall writes: From May 14-17, the global elite met in secret in Greece for the yearly Bilderberg conference, amid scattered and limited global media attention. Roughly 130 of the world’s most powerful individuals came together to discuss the pressing issues of today, and to chart a course for the next year. The main topic of discussion at this years meeting was the global financial crisis, which is no surprise, considering the list of conference attendees includes many of the primary architects of the crisis, as well as those poised to “solve” it.
Thursday, May 21, 2009
Government Debt Downgrades vs. Gold / Interest-Rates / Global Financial System
By: Mike_Shedlock
The word for today is "downgrade". Inquiring minds may wish to count the instances of downgrade in the following paragraphs.
UK and US Debt Face Downgrades
Tuesday, May 19, 2009
Russia Dumps the U.S. Dollar for Euro as Reserve Currency / Currencies / Global Financial System
By: Pravda
The US dollar is not Russia’s basic reserve currency anymore. The euro-based share of reserve assets of Russia’s Central Bank increased to the level of 47.5 percent as of January 1, 2009 and exceeded the investments in dollar assets, which made up 41.5 percent, The Vedomosti newspaper wrote.
Read full article... Read full article...
Monday, May 18, 2009
Restoring National Sovereignty with A Truly National Banking System / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Ellen Brown's "Web of Debt:" Part VI -
This is the sixth and final article on Ellen Brown's superb 2007 book titled "Web of Debt," now updated in a December 2008 third edition. It tells "the shocking truth about our money system, (how it) trapped us in debt, and how we can break free." This article focuses on establishing a people-oriented banking system. It's high time we had one and reclaimed what's rightfully ours.
Thursday, May 14, 2009
Countries Should Use their Central Bank Reserves to Tame the Speculators / Politics / Global Financial System
By: Global_Research
Michael Hudson writes: Yevgeny Primakov explains where Russia’s Neoliberal Model Went Wrong - Last week Izvestiya published an interview with former Premier Yevgeny Primakov, now president of the Chamber of Commerce and Industry. (Johnson’s Russia List published a translation on May 8). The discussion centered on a universal problem – what China and other Asian countries, as well as OPEC and Europe should do with the export surpluses and proceeds mounting up in their central banks from mortgaging or selling off their real estate and industry. Or to put matters in retrospect, what should they have done to avoid the neoliberal monetarist ideology that governments should do nothing at all with these surpluses, not even use them to fuel economic growth.
Thursday, May 14, 2009
The Debt Spider Captures America - American Workers Consigned to Debt Serfdom / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Ellen Brown's "Web of Debt:" Part IV - This is the fourth in a series of articles on Ellen Brown's superb 2007 book titled "Web of Debt," now updated in a December 2008 third edition. It tells "the shocking truth about our money system, (how it) trapped us in debt, and how we can break free." This article focuses on America's "web of debt" entrapment.
Tuesday, May 12, 2009
Global Debt Enslavement - From Gold Reserves to Petrodollars / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Ellen Brown's "Web of Debt:" Part III - This is the third in a series of articles on Ellen Brown's superb 2007 book titled "Web of Debt," now updated in a December 2008 third edition. It tells "the shocking truth about our money system, (how it) trapped us in debt, and how we can break free." This article focuses on global debt entrapment.
Monday, May 11, 2009
How Scotland's Unscrupulous Money Men Sought to Control Colonial America / Politics / Global Financial System
By: BBC
Neil Oliver and A History Of Scotland are about to go Stateside to document Scotland's international moneymen, who weren't averse to "playing the markets" for their own ends in the 18th century.
Friday, May 08, 2009
Bankers Capture the Money Machine: Reviewing Ellen Brown's "Web of Debt:" Part 2 / Politics / Global Financial System
By: Stephen_Lendman
This is the second of several articles on Ellen Brown's remarkable book titled "Web of Debt....the shocking truth about our money system, (how it) trapped us in debt, and how we can break free." It's a multi-part snapshot. Reading the entire book is strongly recommended - easily obtainable through Amazon or Brown's webofdebt.com site.
Wednesday, May 06, 2009
Global Monetary & Financial System: Reviewing Ellen Brown's "Web of Debt:" Part I / Politics / Global Financial System
By: Stephen_Lendman
This is the first of several articles on Ellen Brown's superb 2007 book titled "Web of Debt," now updated in a December 2008 third edition. It tells "the shocking truth about our money system, (how it) trapped us in debt, and how we can break free." Given today's global economic crisis, it's an appropriate time to review it and urge readers to digest the entire work, easily gotten through Amazon or Brown's webofdebt.com site. Her book is a remarkable achievement - in its scope, depth, and importance.
Monday, May 04, 2009
G20 Meeting Governmental or Mafia? / Politics / Global Financial System
By: LewRockwell
Do you remember the 1957 meeting of Mafia bosses in Apalachin, New York? About 100 of the Big Bosses met at the home (it must have been large!) of local Mafia chieftain Joe Barbara, and the local police became curious when they noticed numbers of expensive cars with out-of-town license plates at the Barbara home. The cops, acting on the principle of "arrest now, ask questions later," arrested as many of the men as they could catch, and a prosecutor named Milton Wessel subsequently tried them on conspiracy charges.
Friday, April 24, 2009
U.S. ‘Soft Power’, Dollar Standard and the Banks / Politics / Global Financial System
By: Global_Research
Steven Lesh writes: The privilege of supplying the world’s reserve currency, the money nations use to conduct business beyond their borders, is a source of power to the nation that possesses it more valuable than the most powerful military. Since virtually all money is created ‘out of thin air’ by entries in bank ledgers, the nation supplying the world’s reserve currency has the power to create enough money to buy the world. Working in conjunction with its banks, a nation supplying the reserve currency can conquer and control vastly more of the world’s wealth than it could hope to with military force.
Thursday, April 23, 2009
Chinese Global Currency Strategy Challenge to U.S. Dollar and Gold / Currencies / Global Financial System
By: Jim_Willie_CB
In a series of maneuvers, Chinese officials have revealed their strategy implementation in a very broad set of steps. Beijing leaders plan to establish the yuan currency as a global reserve currency. The process will be made more complete after issuance of a large volume of Chinese Govt debt securities, soon in coming. The number of policy actions is impressive. While the USGovt is busy stepping backwards with FASB rules enabling false bank accounting, gearing up Treasury programs to direct colossal elite welfare / confiscation to failed banks responsible for the crisis, covering up Wall Street fraud and regulatory lapses and debt rating agency collusion, and ordering pork like the $9 billion high speed train from Disneyland to Las Vegas, the Chinese are making important meaningful critical strides.
Saturday, April 18, 2009
The Tower of BIS Basel: Secretive Plans for the Issuing of a New Global Currency / Politics / Global Financial System
By: Global_Research
Ellen Brown writes: In an April 7 article in The London Telegraph titled “The G20 Moves the World a Step Closer to a Global Currency,” Ambrose Evans-Pritchard wrote:“A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,’ it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.
Monday, April 13, 2009
China's Proposal for a Super-sovereign Global Reserve Currency System / Currencies / Global Financial System
By: Global_Research
Proposal of the Governor of the People's Bank of China presented to the G20 Meetings - The outbreak of the current crisis and its spillover in the world have confronted us with a long-existing but still unanswered question,i.e., what kind of international reserve currency do we need to secure global financial stability and facilitate world economic growth, which was one of the purposes for establishing the IMF? There were various institutional arrangements in an attempt to find a solution, including the Silver Standard, the Gold Standard, the Gold Exchange Standard and the Bretton Woods system. The above question, however, as the ongoing financial crisis demonstrates, is far from being solved, and has become even more severe due to the inherent weaknesses of the current international monetary system.
Wednesday, April 08, 2009
Towards New Global Currency, New Financial World Order - Part2 / Politics / Global Financial System
By: Global_Research
... Continued from Part 1 Here.
An Emerging Global Government
A recent article in the Financial Post stated that, “The danger in the present course is that if the world moves to a “super sovereign” reserve currency engineered by experts, such as the “UN Commission of Experts” led by Nobel laureate economist Joseph Stiglitz, we would give up the possibility of a spontaneous money order and financial harmony for a centrally planned order and the politicization of money. Such a regime change would endanger not only the future value of money but, more importantly, our freedom and prosperity.”[57]
Read full article... Read full article...
Wednesday, April 08, 2009
Towards New Global Currency, New Financial World Order / Politics / Global Financial System
By: Global_Research
Following the 2009 G20 summit, plans were announced for implementing the creation of a new global currency to replace the US dollar's role as the world reserve currency. Point 19 of the communiqué released by the G20 at the end of the Summit stated, “We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity.” SDRs, or Special Drawing Rights, are “a synthetic paper currency issued by the International Monetary Fund.” As the Telegraph reported, “the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it.”[1] Read full article... Read full article...
Monday, April 06, 2009
The New Real Global Reserve Currency / Currencies / Global Financial System
By: David_Vaughn
Well! Well! Well! China is proposing getting rid of the US dollar to be replaced by a new global currency that would become the new international reserve currency. China wants to see stability in the currency mark ets and the US dollar is not providing this. Actually, China is very concerned about the new dollars being printed and their future impact on inflation. Read full article... Read full article...
Tuesday, March 31, 2009
What Will be the Next World Reserve Currency? / Currencies / Global Financial System
By: Joseph_Toronto
- What exactly is a “reserve currency”?
- Replace the dollar as the world's reserve currency?
- Why the dollar will remain the most important reserve currency.
- What are the Chinese really up to?
Sunday, March 29, 2009
China Zhou Xiaochuan: We Need An International Currency / Currencies / Global Financial System
By: Ronald_R_Cooke
China wants to divorce the dollar. Good move. The dollar is on the brink of considerable depreciation. Premier Wen Jiabao is concerned looming inflationary pressures will sharply decrease the value of American debt held in Chinese banks. In order to encourage create greater monetary stability, Zhou Xiaochuan wants to create an international currency unit that can be used in trade as well as a standard against which other currencies can be pegged.Read full article... Read full article...
Sunday, March 29, 2009
An International Reserve Super Currency? Bretton Woods the Third / Currencies / Global Financial System
By: Oxbury_Research
March 24 (Bloomberg) -- China 's call for a new international reserve currency may signal its concern at the dollar's weakness and ambitions for a leadership role at next week's Group of 20 summit, economists said. Central bank Governor Zhou Xiaochuan yesterday urged the International Monetary Fund to create a “super-sovereign reserve currency.” The dollar weakened after the Federal Reserve said it would buy Treasuries and the U.S. government outlined plans to buy illiquid bank assets. Read full article... Read full article...
Thursday, March 26, 2009
G20 Meeting and Special Drawing Rights Potential Developments / Politics / Global Financial System
By: Robert_Bradshaw
There have been several news reports this past week on the upcoming G20 meeting in London on April 2nd. Perhaps the Chinese and Russians have been the most noteworthy in their plans for a new world reserve currency to replace the dollar. The Russians have had a focus on a basket of currencies or regional currencies which would open the door for the Russian ruble to gain a par status with the dollar and other key currencies. Read full article... Read full article...
Thursday, March 12, 2009
Global Zero Interest Rates Policy Means Spend Now Pay Later / Interest-Rates / Global Financial System
By: Mike_Shedlock
ECB President Trichet has effectively cut its interest rate policy to .5% by agreeing to provide banks an unlimited supply of cash. Let's tune in with a look at ECB Approaches Zero Rates by Stealth With New Weapon .
Read full article... Read full article...
Sunday, February 15, 2009
Understanding Money and War- Part I / Politics / Global Financial System
By: Robert_Bradshaw
In medieval times, the goldsmith business developed in much of Europe (with involvement of people whom had been known earlier as money changers). By the Middle Ages, goldsmithing was an established reality. As gold was physical, heavy and bulky to store, but yet of great value, many people found that they lacked the means to store and safeguard it. Goldsmiths provided this service. When gold was stored with the goldsmith, he would write a receipt for it which was given to the gold owner. Since the gold owner could get his gold upon surrender of the receipt, the receipt was as good as gold. Read full article... Read full article...
Tuesday, January 13, 2009
Breakpoint for the Global Monetary System / Interest-Rates / Global Financial System
By: Dr_Krassimir_Petrov
CHAOS & ORDER - The global monetary system is at a critical juncture. It is fast approaching a breakpoint. We take a philosophical worldview based on chaos theory that considers the evolution of seemingly stable complex systems reaching a bifurcation point, where the whole system rather unpredictably either “explodes” or “implodes” with a lightning speed. The transition is perceived as “chaotic” – the old order collapses and a new order is established. We think that the global monetary system approaches bifurcation – the breakpoint. Read full article... Read full article...
Monday, December 22, 2008
Federal Reserve and Central Banking Responsible for Inflationary Booms and Busts / Economics / Global Financial System
By: Rob_Kirby
Whether Or Not We Like It - In the past, I've written papers where the following quotation was included at the end of the treatise as an “exclamation point”: “We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.” – James Paul Warburg , whose family co-founded the Federal Reserve - while speaking before the United States Senate, February 17, 1950 Read full article... Read full article...
Tuesday, November 25, 2008
Citigroup Collapses! Global Banking System Shutdown Possible / Stock-Markets / Global Financial System
By: Money_and_Markets
It pains me deeply to announce that, despite the massive government rescue, yesterday's collapse of Citigroup could ultimately lead to a shutdown of the global banking system.
For many years, I hoped this would never happen, and I thought we might be able to avoid it.
Read full article... Read full article...
Sunday, November 16, 2008
G20 Economic Summit Changes Nothing / Politics / Global Financial System
By: Richard_C_Cook
The G20 is meeting today in Washington, D.C., to discuss the world financial crisis, its causes, and what can be done about it. But this won't help the people of the U.S. who have been victimized by their own financial system.
The stated objectives are to find ways to stabilize and reduce speculation in the financial markets and make financial transactions more transparent, more efficient, and more international in scope. But this is also a revolt by the nations of the world against over-reliance on the U.S. dollar as the world's reserve currency. What we are likely to see over time is a multi-currency regime that includes the Euro and one or more Asian currencies as well.
Read full article... Read full article...
Friday, November 14, 2008
G7 Banking Systems Continue to Plunge into the Abyss / Stock-Markets / Global Financial System
By: Ty_Andros
As the G7 banking systems continue their plunge into the abyss, so do the world's economies. Public servants, governments and central banks are firing every policy option they have to keep the confidence of consumers and business from collapsing. NOTHING is working as the dominoes of confidence fall faster then they can run ahead of the game. The US and G7 governments are still trying to PICK winners and losers so confusion reigns supreme. Which set of corporate or financial elites will be let into the financial lifeboats and which shall be allowed to fail? That is the question. Read full article... Read full article...
Friday, November 14, 2008
The G-20's Secret Credit Crash Debt Solution / Currencies / Global Financial System
By: Money_and_Markets
Larry Edelson writes: If you think this weekend's G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks … think again.
Behind the scenes, a far more fundamental fix is being discussed — the possible revaluation of gold and the birth of an entirely new monetary system.
Read full article... Read full article...
Tuesday, November 11, 2008
Bretton Woods II- Roadmap Towards a New Financial System / Stock-Markets / Global Financial System
By: Axel_Merk
Following calls by European leaders for a "Bretton Woods II", the Bush administration has invited the " G-20 " countries to come to Washington with the lofty goal to reform the world financial system. Will the way we do business change November 15?
The first Bretton Woods conference, held in 1944, gave birth to the International Monetary Fund (IMF), the World Bank and - albeit with half a century delay - the World Trade Organization.
Read full article... Read full article...
Sunday, November 02, 2008
Time to Bunker Down as the Global Debt Mountain Implodes / Economics / Global Financial System
By: Dr_William_R_Swagell
Global Panic Spreads - The largest debt bubble in the history of mankind is on the verge of deflating and collapsing as world leaders and central bankers fly around the globe to one crisis meeting after another. No sooner is one panic quelled or some hasty band-aid fix slapped into place to stop a financial collapse than another breaks out somewhere else. The bad news just keeps on coming; Read full article... Read full article...
Tuesday, October 21, 2008
The United States, Europe and Bretton Woods II to Avoid Economic Depression / Economics / Global Financial System
By: STRATFOR
French President Nicolas Sarkozy and U.S. President George W. Bush met Oct. 18 to discuss the possibility of a global financial summit. The meeting ended with an American offer to host a global summit in December modeled on the 1944 Bretton Woods system that founded the modern economic system. Read full article... Read full article...
Monday, October 20, 2008
The End of Friedmanite Economics / Economics / Global Financial System
By: Mike_Whitney
Monday last week, the stock market recorded its biggest one day gain in history on news that the G-7 had settled on a plan to recapitalize the banking system. The Federal Reserve, the European Central Bank (ECB) and the Bank of England (BOE) all agreed to make direct capital injections into "systemically important" banks so they could resume lending and reduce stress in the credit markets. They also decided to insure deposits and to guarantee interbank lending. Do you think that these unprecedented steps will be enough to avert a meltdown of the financial system?Read full article... Read full article...
Monday, October 20, 2008
The End Game- Greatest Ponzi Scheme in History Part2 / Politics / Global Financial System
By: David_Chu
deleted
Wednesday, October 08, 2008
Unprecedented Global Coordinated Interest Rate Cut / Interest-Rates / Global Financial System
By: Joseph_Brusuelas
The US Federal Reserve along with the Bank of Canada, Bank of England, the European Central Bank, Sweden Riksbank and the Swiss National Bank acted in concert to reduce short term lending rates in pre-market hours this morning.Read full article... Read full article...
Sunday, October 05, 2008
Fear Grips Stock Markets as Economies Tip Into Recession / Stock-Markets / Global Financial System
By: Prieur_du_Plessis
Whew – what a wild week! Global stock markets and commodities tumbled, whereas government bonds and the US dollar surged amid mounting fears that the ongoing turmoil in financial markets was foreshadowing a hard landing for the US and Europe.
The first-ever trillion-dollar loss (as measured by the Dow Jones Willshire 5000 Index) on Wall Street came on Monday in the wake of the US House of Representatives failing to gather enough votes to pass the $700 billion bank rescue package. Globally, more than $1.7 trillion got wiped off the MSCI World Index.
Read full article... Read full article...
Sunday, September 28, 2008
Mega-Trend: End of the Era of Falling Interest Rates / Interest-Rates / Global Financial System
By: Boris_Chikvashvili
Dear Reader,
In early CAPI(SOPI)TALISATION process of USSR/RUSSIA, they have searched the earth for a nice motto for a newly minted credit card called RUSSIAN EXPRESS. Their search has finally ended when they DISCOVER(ed) the AMERICAN EXPRESS ad with a motto: Do Not Leave Home Without It.
And Bingo. The choice was uncontested. The motto became...
Read full article... Read full article...
Friday, September 05, 2008
Russo-Georgian War Aftermath Impact on Financial Markets / Politics / Global Financial System
By: STRATFOR
A redefinition of Russia has taken place — rather jarringly — following its war with Georgia, and the entire world is reassessing its position and relations with the resurgent power. This reassessment includes financial factors — a much more tender area for today's Russia than for the Soviet Union, because Russia's large economy is tied into the global economy. Read full article... Read full article...
Wednesday, July 23, 2008
The Greatest Transfer of Wealth in History is About to Unfold / Stock-Markets / Global Financial System
By: Ty_Andros
As we look out over the next six months what we see will be extraordinary. The opportunities for prepared investors have never been brighter as the unfolding volatility will be incredible. “Volatility is Opportunity ” for the prepared investor and it will arrive in spades. After a short period of corrective activity I believe explosive moves in almost ALL SECTORS (interest rates, stocks, commodities, natural resources, currencies, and more) lay on the near horizon. Read full article... Read full article...
Wednesday, June 18, 2008
G8 Fail to Address Growing Global Instability / Economics / Global Financial System
By: John_Browne
With market watchers the world over feeling increasingly alarmed by spreading economic problems, much hope and attention was focused on Japan last weekend as finance ministers and central bankers of the G-8 (Group of Eight) nations gathered to apparently map out a coordinated global response. In particular, all hoped that the delegates would conjure a plan to save the dollar from the dustbin and stop the price of oil and food from pushing the world into crisis.Read full article... Read full article...
Tuesday, May 27, 2008
Will We See the End of Empire in Our Time? / Politics / Global Financial System
By: Richard_C_Cook
The following is based on a talk given by the author at the “End of Empire” session of the “Building a New World” Conference of the Prout World Assembly at Radford University, Radford, Virginia, on May 22, 2008.
I believe we have had two Americas. One started with the imperialist state which Alexander Hamilton tried to put into place in the 1790s with the First Bank of the United States. Thomas Jefferson overthrew this early expression of empire in the Civic Revolution of 1800 and created a strong and free America which lasted until 1913 in spite of the convulsion of the Civil War.
Read full article... Read full article...
Sunday, May 04, 2008
Extraordinary Times, Intentional Collapse, and Takedown of the USA - Part 2 / Politics / Global Financial System
By: Richard_C_Cook
Part 1“End Times”
Can it be that the last stage of the U.S. takedown is “The Project for the New American Century”? Is this ambitious plan for “global leadership” through military might that was seemingly invented by the “neocons”—many with dual U.S.-Israeli citizenship—a Trojan Horse?
Read full article... Read full article...
Sunday, May 04, 2008
Extraordinary Times, Intentional Collapse, and Takedown of the USA - Part 1 / Politics / Global Financial System
By: Richard_C_Cook
Much has been written about whether a worldwide plan exists to control events and steer them in the direction profitable to an elite of the rich and powerful. Is this a “conspiracy theory”? While it is difficult to be specific about who exactly may be behind such a conspiracy, if it exists, it is at least clear that the privately-managed system of global financial capitalism gives ample opportunity for the world’s richest people to combine for their mutual benefit. Further, global financial capitalism itself is based on the monopolization of money-creation by a world banking system that is largely privately owned, even while working through the central banks of the largest and most prosperous nations.Read full article... Read full article...
Monday, March 03, 2008
Epic Paradigm Shift Looms Against the Acceptance of Fiat Money / Stock-Markets / Global Financial System
By: Joseph_Russo
Adaptive Trading and Investment Perspectives Since we first began offering our market forecasting and analysis services to the public some two years ago, Elliott Wave Technology has been strident in directing our clients focus and attention to the negative wealth effects that eroding fiat-currency's impose - along with the plausibility of epic consequence, if and when an inevitable paradigm shift against the acceptance of fiat-money were to ever reach critical mass. No matter where we are in a given investment cycle, we must first recognize the inherent nature of that environment, and then adapt our various investment postures with fitting perspective.Read full article... Read full article...
Friday, February 29, 2008
Currencies Crises- Two Days in September / Currencies / Global Financial System
By: Adrian_Ash
"...The US Dollar's hoped-for decline had now become a rout, driving the greenback down to new all-time lows on its trade-weighted index..."
Saturday, 19th Sept. 1931 - Montagu Norman – governor of the Bank of England – is sailing back to London from a vacation in Canada . He'd felt "under the harrow" since February, and one day in late July had gone home early "feeling queer".
Read full article... Read full article...
Friday, February 29, 2008
The Anti-Gold Standard Gospel According to Barron Smith / Commodities / Global Financial System
By: Professor_Emeritus
Barron Young Smith is a financial journalist whose piece What Would Happen If We Adopted the Gold Standard? is appended below. He describes Ron Paul's campaign to restore Constitutional money in the U.S. as being "populist". He adds insult to injury in saying that "Ron Paul... is on a crusade to resurrect a great symbol of Wall Street-Washington dominance over the individual". Read full article... Read full article...
Wednesday, February 06, 2008
The Coming Collapse of International Credit Ratings Agencies - Moody's, Standard & Poor, and Fitch / Stock-Markets / Global Financial System
By: Alex_Wallenwein
So you thought the Ambac/MBIA bond insurers crisis was bad? You ain't seen nothin' yet
The problem, the challenge, the scandal, is not that the bond insurers are about to be downgraded. The real scandal lies in the fact that they haven't been downgraded a long time ago - and much deeper than from "AAA" to "AA". In fact, what needs to be downgraded are the major international credit ratings agencies, Moody's, Standard & Poor, and Fitch.
Read full article... Read full article...
Wednesday, January 30, 2008
Iran's Notice to Crude Oil Importers Results in Monetary Contraction of $500 billion of PetroDollar Reserves / Commodities / Global Financial System
By: Rob_Kirby
Much was made of Iran's announcement back in December, 2007 – that they would no longer be accepting U.S. Dollars as payment for their chief export, crude oil:
Iran stops selling oil in dollars - Tehran moves closer to confrontation with U.S.
Read full article... Read full article...
Wednesday, January 30, 2008
Stock and Financial Market Forecasts 2008 - Currencies - Part 3 / Currencies / Global Financial System
By: Ty_Andros
Introduction
This is the master thread to which all economic analysis must be held up due to the fiat monetary systems practiced UNIVERSALLY around the world. Just like a game of musical chairs, or rearranging the deck chairs on the titanic everyone will go down sooner or later. The central reality is that Currencies don't float, they just sink at different rates .
Currencies are no longer backed by gold or silver and are no one else's liability; they are all now IOU's and are the liability of the central bank and country that issues them. The principle reserves of the world's central banks consist of other country's promises to pay (currency and bonds). As we all know, public servants rarely deliver on their promises, and their “promises to pay” are made of the same timber.
Read full article... Read full article...
Monday, January 28, 2008
Davos, Debt & Systemic Failure - When West Meets East / Stock-Markets / Global Financial System
By: Darryl_R_Schoon
The preferred diet of most Davos attendees is a fusion inspired composition of individual, government, and corporate debt combined with a free-market frisee of lax regulatory oversight held together by a roux of central bank credit that dissolves instantly when paired with matching counter-party risk.
The January 2008 gathering in Davos , Switzerland at the World Economic Forum is similar to the 1957 meeting in Palermo , Sicily of American and Sicilian Cosa Nostra crime families who met to discuss mutual problems and opportunities. The notable difference being that those in the Cosa Nostra live outside the law; while those at the World Economic Forum in Davos make them.
Read full article... Read full article...
Wednesday, January 23, 2008
Expert Views on the Stock Market Credit Crisis and Global Economy / Stock-Markets / Global Financial System
By: John_Mauldin
This week we do something a little different in our Outside the Box. Every weekend I get a very information-filled blog called Investment Postcards from Cape Town ( http://www.investmentpostcards .com ) by Dr. Prieur du Plessis. In it he highlights what he thinks is the most important portion of the writings of 10 to 15 analysts from around the world on the state of the economy and investing, and summarizes the news and data. I find it very useful, as Prieur generally finds a lot of interesting pieces that I miss and go on to read in my effort to stay on top of the markets. You can subscribe on your own if you like by activating the subscription option on the blog.
Tuesday, January 15, 2008
Shadow Banking System Crumbling as Losses Double to $500 Billion / Stock-Markets / Global Financial System
By: John_Mauldin
This week look at a short but very important piece by Bill Gross. He has my same concern about credit default swaps, but he puts a number to it. He thinks the cost to the world economic system could be in the $250 billion dollar range. Add that to the $250 billion in losses due to the subprime markets, and you are starting to talk real money. The Shadow Banking System is at the center of the problem. I trust you will find this of interest.
Bill Gross was just named Fixed Income Manager of the Year by Morningstar. He sits on the largest pile of bonds in the world at PIMCO and is their Managing Director.
Read full article... Read full article...
Thursday, January 10, 2008
The Coming Economic Depression & Christmas On Threadneedle Street / Economics / Global Financial System
By: Darryl_R_Schoon
The address of the Bank of England is Threadneedle Street , EC2 London. Martha and I could not have been closer. On Christmas day, we were at the Threadneedles Hotel at 5 Threadneedle Street . But proximity to the Bank of England is measured not by distance but by influence. Those closest to the Bank of England are the moneylenders.
England 's reign as a world power actually began on Threadneedle Street . Then, no bank had its own building and bankers were but goldsmiths who lent money and rented space to do business. But after the moneylenders cut their bargain (and it was a bargain) with King William of England , things were never to be the same, either for England or the moneylenders—or the world.
Read full article... Read full article...
Monday, January 07, 2008
NO Economic Decoupling Instead Greater Interdependence - 2008: The Year of Reckoning ? / Economics / Global Financial System
By: Brent_Harmes
What lies dead ahead for our economy.- The main stream press is finally waking up to the economic realities that are starting to affect us here and now. The January 7, 2008 Forbes magazine has an article by Ernest Zedillo, (former President of Mexico and current Director of The Yale Center for the study of Globalization) titled, 2008: Year of Reckoning . This article is written by a very studied and intelligent man that has seen first hand the effects of currency and borrowing problems. He sees major problems dead ahead for the global economy and I think he absolutely hits the nail on the head with his analysis. Here are a few quotes from that article along with my comments: Read full article... Read full article...
Thursday, December 20, 2007
Bond Markets Train Wreck Imminent? / Interest-Rates / Global Financial System
By: Paul_Tustain
Next week may hold some unpleasant surprises – you may profit from an early warning.
YESTERDAY WE LEARNED that the British government's guarantee to bail out Northern Rock's creditors is worth a staggering £100 billion. That's £5,000 [$10,000] per British household. This week the European Central Bank made $500 billion available through money market operations. And only last week $110bn of new money was created by central bank loans with artificially low rates and reduced-quality security. This is money creation on an epic scale.
Read full article... Read full article...
Wednesday, December 12, 2007
Global Financial Crisis Consequence of the Biggest Housing Bust in US History / Housing-Market / Global Financial System
By: Mike_Whitney
The wreckage in the housing market just keeps piling up. Sales of existing homes in October dipped 23.5% from last year. Prices on new homes dropped 13% year over year. Third quarter foreclosures skyrocketed to 635,000, a 94% increase over last October and an all-time high on the Misery-Meter. The real estate market is in free-fall and the real trouble hasn't even begun yet.
California, Nevada, Arizona and Florida are mired in a full-blown housing depression. Inventory is off-the-chart. Presently, there's a 10.8 month backlog and the numbers are steadily rising. If foreclosures continue at the current pace, by the end of 2008, there'll be a 14 month inventory. That means that every builder in the country could take off his tool-belt right now and stop working FOR MORE THAN A YEAR before the market would clear. Contractors would be filling out job-applications at Red Lobster or looking for an empty street-corner with a tin cup.
Read full article... Read full article...
Tuesday, December 11, 2007
Subprimes Hit Dervatives Shadow Banking System / Interest-Rates / Global Financial System
By: John_Mauldin
This week in Outside the Box we will look at Bill Gross of Pimco's latest essay, addressing the ever expanding economic repercussions of the poorly understood CDO/CLO market, the off balance sheet structured investment vehicles (SIVs) and the economic abyss Bernanke and Company are attempting to lead the market out of with neither light nor guide. Bill sits on the top of the largest bond firm in the world, so they have some very unique insights into what is happening. I always pay attention to what Bill says, and you should too.Read full article... Read full article...
Tuesday, December 04, 2007
G7 Creating Rolling Asset Bubbles That Implode - Fingers of Instability, Part 14 / Stock-Markets / Global Financial System
By: Ty_Andros
In This Issue- 3 Fingers of Instability
- Moral Hazard, Herding Cats and Shades of Japan !
- Ghosts of Christmas “Future”
- Shocking News!
Introduction
The “fingers of Instability” series will be wrapped up next week (in the months and years ahead we will bring you short vignettes). It's been a fun and enjoyable mental exercise but it has now unfolded pretty much as outlined since it began. It is prelude to the next chapter in the unfolding demise of the G7 and its financial and monetary systems. But it has a long way to run (several decades in my estimation) and the opportunities are generational in scope. Wealth will shift from one group to another and change the face of the Globe.
Monday, December 03, 2007
Catch-22 for US Fed and Global Economy On Interest Rates / Interest-Rates / Global Financial System
By: Captain_Hook
What can I tell you, but I told you so. Finally, Europeans are waking up to the fact cake eaters on Wall Street intend to devalue their way out of their problems, as forecast here on these pages recently. This is because it's really beginning to hurt, and it now appears the US intends to make the currency trade a one way event in postponing any pain like the stock market.
The only problem with this brand of thinking, if you can call what price managers are doing these days thinking, is a good old-fashioned currency crisis , which should go a long ways in waking up slumbering societies around the world in turn, along with keeping gold in the forefront. This should become even more apparent today with Bernanke speaking, where already yesterday a panicky Fed was pandering the mob by hinting at lower rates.
Read full article... Read full article...
Saturday, December 01, 2007
Are We Heading for Hyperinflation or Deflation? - At Philosophical Crossroads / Economics / Global Financial System
By: Brian_Bloom
For some unfathomable reason, the human mind tends to think in terms of extremes. For example: “Death or Glory”, “Success or Failure”, “Accelerating growth or Collapse”.
Thus, the questions being asked in today's financial world seem to be revolving around whether we are facing “hyperinflation or depression”. All of which begs the questions: Why does it have to be at one or the other extreme? Why can't there be something in between? Alternatively, why can't there be a paradigm shift which renders the very question irrelevant?
Read full article... Read full article...
Monday, October 29, 2007
The Bank of the South: An Alternative to IMF and World Bank Dominance / Politics / Global Financial System
By: Stephen_Lendman
In July, 2004, the IMF and World Bank commemorated the 60th anniversary of their founding at Bretton Woods, NH to provide a financial framework of assistance for the postwar world after the expected defeat of Germany and Japan. With breathtaking hypocrisy, an October, 2004 Development Committee Communique stated: "As we celebrate the 60th anniversary of the Bretton Woods Institutions....we recommit ourselves to supporting efforts by developing countries to pursue sustainable growth, sound macroeconomic policies, debt sustainability, open trade, job creation, poverty reduction and good governance." Phew.Read full article... Read full article...
Sunday, October 07, 2007
Losing the Peace Incentive - Israel As Warning - Part 8 / Politics / Global Financial System
By: Stephen_Lendman
Conventional wisdom once thought economic growth and prosperity required peace and stability. No longer. Post-9/11, the terror scare was ignited, wars rage in Iraq and Afghanistan, more war is threatened on Iran, oil prices touched $80 a barrel, the WTO Doha Round trade talks collapsed, and "a golden period of broadly shared growth" prevails (at least until the recent credit crunch). How come?Read full article... Read full article...
Friday, October 05, 2007
Capitalism and Freedom Unmasked / Stock-Markets / Global Financial System
By: Stephen_Lendman
An era ended November 16, 2006 when economist Milton Friedman died. A torrent of eulogies followed. The Wall Street Journal mourned his loss with the same tribute he credulously used when Ronald Reagan died saying "few people in human history have contributed more to the achievement of human freedom." Economist and former Treasury Secretary Lawrence Summers called him a hero and "The Great Liberator" in a New York Times op-ed; the UK Financial Times called him "the last of the great economists;" Terence Corcoran, editor of Canada's National Post, mourned the "free markets" loss of "their last lion;" and Business Week magazine noted the "Death of a Giant" and praised his doctrine that "the best thing government can do is supply the economy with the money it needs and stand aside." Read full article... Read full article...
Tuesday, October 02, 2007
Return of Trade Tariff Wars / Economics / Global Financial System
By: Gerard_Jackson
Kevin Rudd is signalling that a Labor Government would introduce another tariff regime. Rudd’s threat basically rests on two arguments, whether he knows it or not: The main one being that tariffs are needed to protect Australian manufacturing before it disappears. Then there is the subsidiary argument that tariffs are needed to protect jobs and real incomes. It is now time to give some basic economic facts another airing:Read full article... Read full article...
Monday, October 01, 2007
The Rise of the Disaster Capitalism Complex - Shock Therapy in the USA - Part 5 / Politics / Global Financial System
By: Stephen_Lendman
Richard Nixon knew before the rest of us that Donald Rumsfeld is "a ruthless little bastard." He also has a knack for making enemies even inside the Pentagon he ran as Defense Secretary. He planned to "reinvent warfare for the twenty-first century (making it) more psychological than physical, more spectacle than struggle, and far more profitable" than ever before.Read full article... Read full article...
Sunday, September 30, 2007
The Shock Doctrine: Lost in Transition: Slamming the Door on History - Part 4 / Politics / Global Financial System
By: Stephen_Lendman
Before the Berlin Wall fell, Lech Walesa became a labor hero in Poland and the West by defying the Moscow-controlled government and getting away with it. Solidarnosc (Solidarity) spread from its Gdansk roots to the country's mines, shipyards and factories and within a year had 10 million members. They won the right to bargain but wanted more. They aspired to take over the state and institute their own alternative economic and political program. It's radical centerpiece was to transform huge state-run companies into worker-run cooperatives so Solidarity members could be empowered in their own "socialized enterprise."Read full article... Read full article...
Wednesday, September 26, 2007
Macro Musings: Northern Rock Exposure / Stock-Markets / Global Financial System
By: Justice_Litle
BY NOW YOU HAVE probably heard about Northern Rock—the UK mortgage bank that got, er, rocked.
"It was a very British bank run," portfolio manager Tim Price reports. "The queues were orderly, but the emotional impact will scar people for generations."
What's remarkable is how long it's been since the last one. Northern Rock was Britain's first bank run since 1866.
Read full article... Read full article...
Wednesday, September 26, 2007
The Shock Doctrine: Surviving Democracy - Part 3 / Politics / Global Financial System
By: Stephen_Lendman
Chicago School dogma became known as Thatcherism in Britain, but its prime minister wasn't an early adherent. Margaret Thatcher thought Chilean shock therapy wasn't possible in a democracy like the UK because voters wouldn't buy it. Three years into her first term, her approval rating was lower than George Bush's. She was in danger of not being reelected and didn't dare risk imposing bitter economic medicine that would sink her chances. That is, until destiny intervened on April 2, 1982 when Argentina invaded the British-held Falkland Islands off its coast that was unimportant to either country except for the political hay to gain from war.Read full article... Read full article...
Saturday, September 22, 2007
Chile The First Test - The Bloody Birth of the Counterrevolution - Part 2 / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Naomi Klein's "The Shock Doctrine: The Rise of Disaster Capitalism" - Introduction ,
Part 1 - Two Doctor Shocks - Torture and Chicago School Fundamentalism
Counterrevolution began 34 years ago in Chile on another September 11 that should have been unimaginable and had to seem surreal. There were tanks in the streets and fighter jets attacking government buildings in a scene all too real and deadly. It played out in Santiago and around Chile and was just the beginning of a long nightmare.
Read full article... Read full article...
Saturday, September 22, 2007
Two Doctor Shocks - Torture and Chicago School Fundamentalism - Part 1 / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Naomi Klein's "The Shock Doctrine: The Rise of Disaster Capitalism" - IntroductionFollowing a crisis shock, another quickly follows. The corporate piranhas exploit disorientation with economic "shock therapy" along with "police, soldiers and prison interrogators" with torture their method of choice "to build a model country (by) erasing people and then trying to remake them from scratch."
Read full article... Read full article...
Friday, September 21, 2007
The Shock Doctrine: The Rise of Disaster Capitalism / Politics / Global Financial System
By: Stephen_Lendman
Reviewing Naomi Klein's "The Shock Doctrine" - Naomi Klein is an award-winning Canadian journalist, author, documentary filmmaker and activist. She writes a regular column for The Nation magazine and London Guardian that's syndicated internationally by the New York Times Syndicate that gives people worldwide access to her work but not its own readers at home.Read full article... Read full article...
Saturday, September 15, 2007
Gold Bull Market as OECD and IMF Warn of Global Financial Instability / Stock-Markets / Global Financial System
By: Julian_DW_Phillips
Investment Climate Changes - Think back to two months ago. Now think back to today. There have been some big changes in confidence levels, not only in global growth, but the financial structures of the world. Lots of reassuring words are flying around, but few are convinced that all is well. This would not matter so much but some of the statements of concern have come from the leading figures in the globe's main financial institutions. Mr. Ben Benanke has warned that the U.S. Trade deficit is unsustainable, he also warned of a potential waning of foreigner's appetite for U.S. Treasury securities. Read full article... Read full article...
Friday, September 07, 2007
Are The Banks In Trouble? / Stock-Markets / Global Financial System
By: Mike_Whitney
“ The new capitalist gods must love the poor – they are making so many more of them .” Bill Bonner, “The Daily Reckoning”
“ The hope of every central bank is that the real problem can be kept from public view. The truth is that the public---even professionals on Wall Street---have no clue what the real problem is. They know it has something to do with derivatives, but none of them realize that it's more than a $20 trillion mountain of unfunded, unregulated paper that has just been discovered to not have a market and, therefore, no real value… When the dollar realizes the seriousness of the situation---be that now or sometime soon---the bottom will drop out. ” Jim Sinclair, Investment analyst
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Thursday, August 30, 2007
Sovereign Wealth Funds – A Controversial New Power in Global Markets / Forecasts / Global Financial System
By: William_R_Thomson
The imbalanced global economy of recent years, where the US ran huge current accounts deficits of USD 800 billion or so and emerging markets built up huge surpluses of foreign exchange, is passing from a benign period to one that could bring the openness of investment markets into question and engender a lapse back into financial protectionism.
Ten years ago Asia, Russia, Latin America were broke and In crisis having to obey the dictates of the International Monetary Fund to pull themselves out of the hole the markets had dug for them. With the oil price hovering in the teens, OPEC had no spare funds either. In the midst of the tech boom the US was top dog and ruled the roost.
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Monday, August 27, 2007
US Fed - A "Slow Motion Train Wreck" / Interest-Rates / Global Financial System
By: Stephen_Lendman
These days, financial/market punditry seems to follow two opposite lines of thinking. It ranges from the predominant view that world economies are growing and sound, problems in them minor and fixable, and current volatility (aka turmoil) is corrective, normal and a healthy reassessing and repricing of risk. Contrarians, on the other hand, believe the sky is falling. Most often, extreme views like these turn out wrong and are best avoided. Things are never that simple and hindsight usually proves only Cassandra was good at forecasting although calling market tops and bottoms wasn't her specialty. Read full article... Read full article...
Monday, August 20, 2007
The Reserve Bank of Australia gets it Wrong on Financial Markets / Interest-Rates / Global Financial System
By: Gerard_Jackson
Last week the Reserve Bank of Australia raised interest rates. Glenn Stevens, the Reserve's governor, told the house of representatives standing committee on economics, finance and public administration that he did not regret the decision. He said: “It has been a little bit difficult to read what the current trend in inflation is over recent quarters”. Let me see if I can help out here. Inflation, Mr Stevens, is a monetary expansion.Read full article... Read full article...
Thursday, August 16, 2007
Stock Market Investments - Take More Profits Now! / Stock-Markets / Global Financial System
By: Money_and_Markets
Larry Edelson writes: I'm just back from Asia with visits to Thailand, Singapore, Manila and Sydney. And I'll get right to the bottom line: I have no doubt in my mind whatsoever that overseas economies will continue to explode higher.
However, my on-the-ground experience from this trip also tells me that even Asian economies could hit some headwinds over the next few months.
I attribute this to three forces …
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Saturday, August 11, 2007
Making Money vs Creating Wealth - Migrating to New Energy Paradigms Part 5 / Economics / Global Financial System
By: Brian_Bloom
Making money is not the same as creating wealth. The objective of this article is to facilitate an understanding of this deceptively simple statement which, in turn, will facilitate an understanding of the dimensions of the problems now being faced by humanity. Hopefully, this will lead to a realization that these problems – most of them – are soluble within a relatively short space of time.
Perhaps this anecdote will help to set a mental framework:
A long, long time ago I was number two ‘opening bat' for my school's First XI cricket team. I played sport six days a week in those days and had great hand/eye co-ordination. In my mind I can still recall the pleasure of opening my shoulders and smacking a loose ball for six over the bowler's head. The ball would connect with the “sweet spot” of the bat and soar into the bleachers above the sight screen at the far end of the field. It didn't happen often – but when it did, wow!
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Tuesday, August 07, 2007
Making Sense of the Currency Market Turmoil / Currencies / Global Financial System
By: William_R_Thomson
How far will the US$ fall? Will yen 'carry trade' positions unwind swiftly? Experts give their take on these and related concerns
OVERVIEW
The combination of a sliding dollar, an unwinding of yen 'carry trades' (whereby yen are used to finance investment or speculation in higher- yielding currencies) and a credit crunch in US markets has sent financial markets reeling around the world. Volatility is back and global asset valuations are looking shaky.
The Business Times gathered together an impressive array of experts to discuss just how serious the situation is - and where investors should look for refuge in the storm.
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Thursday, July 26, 2007
On the Evolution of Civilizations / Politics / Global Financial System
By: Christopher_Quigley
The essence of the myth of the Western tradition is the ideal of an independent life lived in liberty and dignity through family and community . This liberty and independence promotes enterprise and action. Such a myth engendered the human initiative which gave birth to such epoch-changing developments as paper money, financial credit, steam power, the combustion engine, steel hull shipping, electricity, wireless communication, television, air flight, nuclear power, the micro chip and the Internet.Read full article... Read full article...
Monday, July 16, 2007
Cyclical Stock Market Highs – Secular Trends – And The Sinking Of The USS Titanic / Stock-Markets / Global Financial System
By: Captain_Hook
A great deal has already been written on this subject as it pertains to both stocks and commodities, with Michael Alexander's work a shining example in this regard. Of course if you were to compare how the markets are behaving in relation to how conventional analysis along these lines was foretelling what we should expect back at millennium's turn, one might be quite surprised today.Read full article... Read full article...
Tuesday, July 10, 2007
The Dash for Cash Goes Global / Interest-Rates / Global Financial System
By: Adrian_Ash
"...How much intangible debt now needs to be squeezed into how much real money...?"
IS THIS WHAT a credit crunch feels like on the ground? Way behind the curve of my own domestic finances as ever, I've been trying to raise a fresh mortgage on my house – well, for around half of its outstanding value, at least.
In fact, I'm just one of 750,000 borrowers in the United Kingdom about to come out of a two-year fixed deal to find interest rates have risen from 4.50% to 5.75% since late 2005 – and all of the lenders I've approached just raised their rates.
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Saturday, June 30, 2007
Sovereign Wealth Funds / Economics / Global Financial System
By: Mike_Hewitt
Central banks have traditionally kept their reserves in relatively low-yielding, highly liquid government securities, agency debt, money-market instruments and bank deposits. The most current official IMF figure for official worldwide foreign currency reserves is US$5.89 trillion. At US$1.35 trillion, China holds the world's largest pool of official reserves, followed by Japan with US$911 billion and Russia with US$403 billion.Read full article... Read full article...
Thursday, June 28, 2007
Crack Up Boom Part IV - Gold, Oil and the Dollar / Commodities / Global Financial System
By: Ty_Andros
The Crack-up Boom Series Part IV Introduction
The Crack Up Boom series is exploring the unfolding “Indirect Exchange” (as detailed by Ludvig Von Mises), that dollar holders will be using to exit their holdings now and eventually is will be followed by all holders of fiat currency holdings no matter which country is perpetrating the “fraud” of confiscation of wealth through the printing and credit creation process that all such monetary schemes evolve into. The “Crack Up Boom” will drive an inflationary global expansion to inconceivable heights over the coming years. Asset prices will skyrocket as people do what they always do when threatened, they will modify their behavior and do the things necessary for “SELF PRESERVATION” of their families, countries, economies and their wealth. Let's take a look at Von Mises description of the CRACK UP BOOM once again:
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Monday, June 25, 2007
Banks Fight to Postpone Day of Reckoning on Bad Loans Defaults Crisis / Economics / Global Financial System
By: Axel_Merk
The U.S. trade deficit with the rest of the world leapfrogged in recent days: aside from goods and services, we are now importing “consensus based crisis management” from Japan. Out of fear that a cleanup of bad loans would trigger widespread defaults, Japanese banks got themselves deeper and deeper into trouble by hushing up the problems. We are talking about the crisis at Bear Sterns' subprime hedge fund. The crisis shows that major adjustments on how the market prices risks are overdue; this may have negative implications for stocks, bonds, commodities as well as the dollar.Read full article... Read full article...
Saturday, June 23, 2007
Your Financial Edge - Bubbles, Bubbles Everywhere and What Can Go Wrong - China / Stock-Markets / Global Financial System
By: John_Mauldin
In this issue:
Your Financial Edge
Blame It on Stability
That Day of Reckoning
A Billion Here, A Billion There
Bubbles, Bubbles Everywhere
What Can Go Wrong: China
600 Home Runs, Calgary, and La Jollay
This week we look at length at an outstanding new book just hitting the bookstores by good friend Paul McCulley (of Pimco fame), called Your Financial Edge . The main themes will give me an opportunity to weave in a few thoughts about some recent data, and a lengthy telephone interview with Paul, done just before writing this week's letter, will bring us up to date on his current thinking. I think readers will take away a few good ideas, so let's jump right in.
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Monday, June 18, 2007
Super Heroes of Central Bank Policy / Interest-Rates / Global Financial System
By: Adrian_Ash
"Is it a bird, is it a plane...or is it a central banker wearing his underpants over his trousers...?"
JUST HOW POWERFUL are the world's central bankers? As comic-book super heroes go, these mild-mannered scholars would no doubt confess that they look a bit weedy.
The massed talents of the Federal Reserve or Bank of England, for instance, hardly ever leap over tall buildings in a single bound. Ben Bernanke and Mervyn King don't own a flowing cape between them, not judging by the multi-year wait for long-dated bond yields to catch up with their gently rising overnight base rates.
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Sunday, June 17, 2007
Should Self-Sufficient Countries Trade? / InvestorEducation / Global Financial System
By: Mike_Hewitt
Countries that are self-sufficient have enough resources to meet the demands of their citizens. Such countries do not need to trade, but there is advantage to be gained by trading. These benefits are three-fold: reduced prices, a tradable surplus, and/or reduced work hours for their citizens.Read full article... Read full article...
Thursday, June 14, 2007
The Global Bond Bear Market on the Back of the Inflationary Boom Ahead / Interest-Rates / Global Financial System
By: Ty_Andros
- First Stage in motion, with small signs of wake up!
- Ethanol Blow Back
CRACK-UP BOOM, part II
In this edition of the “Crack-up Boom” series, we will begin to discuss more in depth how the CRACK-UP BOOM is principally dollar-based now and we will show its fingerprints in US-based money flows, both into and out of the United States, as investors begin to take the actions necessary to protect themselves from the ensuing tsunami of inflation which can be expected.
Thursday, June 14, 2007
Economic Growth Theory: Re-Evolution And The Steady State Of M. King Hubbert / InvestorEducation / Global Financial System
By: Christopher_Quigley
Integrity, intellectual honesty, courage, focus, foresight, leadership, belief in the goodness of the American people. These are descriptions that spring to mind when thinking of M. King Hubbert. He was a visionary who believed in the power of ideas and the need to use intellectual rigour to analyse and manage change. As a research geophysicist he understood the problems posed by the reality of peak oil and the cultural catastrophe that lay before humanity unless it realised the non-recurring historical nature of the growth phenomenon.Read full article... Read full article...
Tuesday, June 12, 2007
Money Masters - Documentary on The Federal Reserve Bank and How International Bankers Gained Control of America / InvestorEducation / Global Financial System
By: Submissions
This film is probably the best history movie you will ever see in your life. In total it is about 5 hours of footage but worth every second. You will probably learn more in 5 hours of watching this film than you will learn in any college history class. Fasten your seat belts.Read full article... Read full article...
Tuesday, June 05, 2007
Dangerous Divergences in the Global Bond and Stock markets / Stock-Markets / Global Financial System
By: Gary_Dorsch
Once upon a time, many years ago, the US stock market lived in fear of a violent band of traders known as the “bond market vigilantes”. Whenever the Federal Reserve's money supply measures grew too rapidly, or the US economy grew too strongly threatening to stoke higher inflation, the “bond vigilantes” would take matters into their own hands, by jacking-up 30-year Treasury bond yields as much as 25 basis points or short-term T-bill rates by 50 basis points in a single day.Former US Treasury secretary Robert Rubin convinced his boss, President Bill Clinton that taming the “bond vigilantes” by reducing the budget deficit was the best way to reach long-term economic prosperity. As Clinton political guru James Carville famously put it, “I used to think if there was reincarnation, I wanted to come back as the president or the Pope or a .400 baseball hitter, but now I want to come back as the bond market. You can intimidate everybody,” he once quipped. Read full article... Read full article...
Friday, June 01, 2007
US Politicians Playing with Matches as they Threaten a Mutually Destructive Trade War with China / Economics / Global Financial System
By: Ty_Andros
This week US Treasury Secretary, Hank Paulson, held a summit meeting with Chinese Vice-premier Wu Yi in Washington DC . It was mostly overlooked in the press and media as the fight over funding the war in Iraq consumed the headlines. The impact of this summit sets the table for the future of the United States in a far more meaningful manner as it outlines the coming miscalculations of the Mandarins in Washington DC . And like an exploding cigar, these issues have the potential to blow up in our faces, the unintended consequences of which can create investment opportunities that can be anticipated.
In the last several months the protectionist bombast (soon to be bomb blast) has been spewing forth from the most ignorant of our federal public servants who inhabit the Di strict of Columbia . These elected representatives from both sides of the aisle have decided to try to pin the tail on the Chinese for the failure of US public policy to set the table for wealth creation, and an expanding US economy, in the emerging global economy.
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Friday, May 11, 2007
NGO Dinosaurs such as the IMF and World Bank / Politics / Global Financial System
By: Ty_Andros
Most NGO's (non governmental organizations, funded by groups of nations for common goals) such as the United Nations, OECD, World bank, the International Monetary fund were valuable contributors to world stability after world wars I and II. But for lack a mission now all have sunk into the depths of corrupt bureaucracies. They are comic book characters now slinking around the world serving up self aggrandizing and self serving goals. Just as Government programs everywhere never are ended decades after their usefulness has ended, but never die, these dinosaurs still roam the earth fighting extinction. They are politically correct as their original intentions/missions were so virtuous, so nobody calls a spade a spade in the politically correct press. Now they are big money machines with heavy strings attached, power and control strings.
Anybody that is involved with them are in it for the money and the money they graft off them is enormous. Any nation taking advice from the IMF is doomed to poverty and economic destruction, its prescriptions are recipes for disaster. Ask Russia , Argentina , Thailand and Brazil to name a few.
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Friday, May 11, 2007
Are We Headed for Another Great Depression? / Economics / Global Financial System
By: Mike_Whitney
My talks with Elaine Meinel Supkis
Question: I've been getting more and more e mail from people who are worried that the policies of the Bush administration will bring about a severe economic downturn or, perhaps, even another Great Depression. Do you believe that the problems in the real estate market, the falling dollar, the massive current account deficit, or the shaky hedge fund industry are likely to cause major meltdown?
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Thursday, April 26, 2007
Death of Bretton Woods II / Economics / Global Financial System
By: Jim_Willie_CB
Throughout the entire 2004 and 2005 years, the global financial markets were subjected to utter nonsense and propaganda about a new Macro Economy. Its main pillar was the recycle of vast Asian trade surplus into USTreasurys. The chief carnival barker for the concept was Alan Greenspan, even as its proponents labeled the crutch the name “Bretton Woods II” in pure heretical fashion. The Bretton Woods Accord, linking the USDollar to gold, was real and valid and enforced. It is about as far in function, meaning, and validity as gold (real & tangible) is from the USDollar (paper & counterfeit).
Thus the HERESY. In the last several months, a painfully clear trend is the ABSENCE of Asian recycled funds. On a net basis, led by Japan and China , the Asian group has shown flat USTBond purchases from their central banks, a radical departure from yesteryears. The US exports its inflation to Asia in order to pay for its bill for finished products, but Asia has RESISTED the temptation to put good money after bad into USTBonds. Implications concerning the faulty and stripped mythological premise are huge.
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Tuesday, April 24, 2007
Economic Armageddon Is Coming / Economics / Global Financial System
By: Joel_S_Hirschhorn
Stop being a compliant consumer. Face the ugly truth. Don't get fooled by the stock market. Accept the need for the mistreated middle class to become the revolutionary class. The British military establishment's most prestigious think tank sees what too few over-consuming Americans are willing to anticipate. Unjustified and mounting economic inequality is planting the seeds for global economic conflict.Here is what the new report from the UK Defense Ministry's Development, Concepts and Doctrine Centre warned might happen by 2035. "The middle classes could become a revolutionary class. The growing gap between themselves and a small number of highly visible super-rich individuals might fuel disillusion with meritocracy, while the growing urban under-classes are likely to pose an increasing threat...Faced by these twin challenges, the world's middle-classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest."
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Thursday, March 08, 2007
Will Crude Oil be traded in currencies other than the US Dollar ? / Currencies / Global Financial System
By: Julian_DW_Phillips
Oil is priced in the U.S. $, which makes it one of the vital interests of the U.S. Without this backing to the $ we have no doubt the path of the $ to the global reserve currency would have been impaired and be undergoing a major attack by now. The thought of oil being priced in currencies other than the $ poses a threat to the credibility of the U.S.$ of major proportions. Any talk of a switch to pricing in other currencies [let alone an actual switch] poses a threat to the U.S. $ in its reserve currency role. This threat is now a real one and poses a considerable danger to the $ in time.Read full article... Read full article...
Sunday, January 28, 2007
The New World Order - Bilderbergs a power elite who supposedly rule the world / Politics / Global Financial System
By: Douglas_V_Gnazzo
The Bilderbergs - who are they and what do they do? An aura of mystique surrounds the name, casting shades of reflections of the power elite who supposedly rule the world. Presidents, royalty, prime ministers, global industrialists, and financial leaders from around the world are said to be members of the secrete organization that meets once a year to set the direction and course of international affairs, world events, and global policies.
The first Bilderberg conference was held at the Bilderberg Hotel in Osterbeek Holland in May 1954, from which it derives its name. Created as a secret and supportive adjunct of NATO and the Marshall plan of the 1940s, the raison d'etre behind the group was to promote post war trans-Atlantic cooperation between America and Europe. It has since evolved into much more.
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Friday, January 26, 2007
Secrets of the New World Order / Politics / Global Financial System
By: Douglas_V_Gnazzo
My last article ended with several quotes from Professor Carroll Quigley, a world renowned scholar who had written quite extensively about secret societies and other elite groups, whose sole purpose was to establish a New World Order.
The following part of one such quote reveals important insights into not only Quigley, but the entire subject as well.
"In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other groups, and frequently does so. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960's, to examine its papers and secret records.
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