In These New Times

A new paradigm for a post-imperial world

Archive for the ‘Financial crisis’ Category

The financial system established in England after 1688, based on usurious lending to the state by private bankers, is reaching its final blowout in the form of a series of devastating bubbles and a massive bailout of the financiers with public money. But the issuance of money doesn’t have to be in the hands of a private consortium: another credit system is possible.

BIS calls for market correction

Posted by seumasach on July 16, 2014

Did the “central banks’ central bank” just call for a stock-market collapse?

NotQuant

30th June, 2014

Don’t look now, but the Bank for International Settlements (BIS), which is often referred to as the “central banks’ central bank”, just advised the world’s central banks to stage a market collapse now rather than later.

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Germany gives green light for banking union plans

Posted by seumasach on July 11, 2014

To minimize the expense to euro zone taxpayers, European Union policymakers have drawn up a law under which shareholders, creditors and very large depositors will lose money first in the event of a bank failure.

For some reason many commentators fail to distinguish between bail-in, as is the case here,  and bailout, as we saw in US/UK in 2008. The above makes it clear.

Independent.ie

11th July, 2014

Germany’s cabinet has approved a package of draft laws which effectively give the go-ahead to Europe’s plans for banking union – the main confidence-building response to the crisis in the financial sector, a government source said yesterday.

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UK banks ‘still vulnerable to global shocks’

Posted by seumasach on June 13, 2014

The idea of bailing out the banks in perpetuity is totally devoid of realism. Neither the pound sterling nor the British people would survive such a policy. The only answer is to allow the banks to fail, to put them through bankruptcy.

HITC

Britain’s financial sector remains vulnerable to further global shocks and the Bank of England must be ready to rescue banks that run short of funds, Threadneedle Street warned on Thursday.

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Emerging dynamics of petro-yuan standard

Posted by seumasach on April 4, 2014

Jim Willie

Goldseek

4th April, 2014

The shocks will be many as the USDollar struggles and falls off the global financial stage in full view. The desperate maneuvers like in Syria and Ukraine should be seen as last ditch efforts to save a dying system. For two decades the USDollar has been defended by military means. Worse, for 50 years the USGovt has been a hidden nazi enclave of wicked fascists who have hidden behind their overt disdain for communism, with Kissinger the flag bearer, with Brzezinski the ideologue, with Papa Bush the executor, with narcotics and genetics and gold thefts their principal agenda. The official US support of fascist regimes includes a list of nations as long as your arm. Since 2008 when the Lehman kill was executed in order to rescue Goldman Sachs, when Fannie Mae was hidden under the USGovt roof to prevent its $trillion fraud from being exposed, and when AIG was tucked in the USFed basement closet for ample monetized rescues to patch the derivative black holes, the Anglo-American banking system has indeed been going through trials and tribulations, leading to its death throes. The climax of the banking system death process is upon us finally, the fibrillations of sudden illiquidity against the backdrop of relentless unforgiving insolvency so evident to those with eyes that function. Never before has the USGovt been so plain in its fascist ways, with abuses on domestic soil and installed nazi regimes on foreign soil. They kill economies systematically. They wage war relentlessly, using it as a business initiative. They control bank movements obsessively. They monitor human movement compulsively. In Kiev were seen the swastikas on armbands. The name Neo-Con is derived as a more palatable version of Neo-Nazi. The game is over for their captured gutted violated USDollar kingdom in a veritable killing field of nations.

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Posted in Currency Wars, Financial crisis, Multipolar world | Tagged: , , | Leave a Comment »

China’s poorest beat our best pupils

Posted by seumasach on February 18, 2014

The terrible truth about educational levels  is another aspect of contemporary Britain which we refuse to confront along with the real state of our banks, our infrastructure, our industrial base, our public health and so on.

Telegraph

17th february, 2014

British schoolchildren are lagging so far behind their peers in the Far East that even pupils from wealthy backgrounds are now performing worse in exams than the poorest students in China, an international study shows.

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2014, resumption of the of the global systemic crisis’ « normal » path

Posted by seumasach on February 17, 2014

LEAP 2020

16th February, 2014

The avalanche of liquidity from the Fed’s quantitative easing in 2013, allowed the world before’s tenets to wake up: indebtedness, bubbles, globalization, financialization… But all it took was a slight slowing down in the astronomical amounts injected by the US central bank every month for the rampant crisis, buried under these piles of liquidity, to reassert itself. As anticipated, the method of “resolving” the crisis by accentuating the excesses that caused it is ineffective, causing a crisis squared instead. All the same one can find an actual benefit: time is gained which everyone uses to their best advantage.

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US Fed Chair Janet Yellen reassures Wall Street

Posted by seumasach on February 13, 2014

The Federal Reserve had been purchasing $85 billion in Treasury and mortgage-backed securities per month, but it announced that it would reduce its monthly pace of purchases to $75 billion in January and to $65 billion in February. In her testimony, Yellen reaffirmed that another reduction in the pace of asset purchases is likely to be announced at the next policy meeting in March.

Yellen cannot continue a zero-interest rate policy and continue tapering QE. QE, the systematic devaluation of the dollar, still the world’s reserve currency, has led to rising prices globally and threatens to provoke a global revolt against US finical hegemony. That is why the Fed is tapering and why interest rates will rise at some point in the none too distant future.

US Fed Chair Janet Yellen reassures Wall Street on easy money policy

Andre Damon(WSWS)

RINF

US Federal Reserve Chair Janet Yellen reassured Wall Street in her first congressional testimony Tuesday that the Fed would continue its zero-interest-rate policies into the indefinite future.

Posted in Currency Wars, Financial crisis | Tagged: , , | Leave a Comment »

Trench warfare

Posted by seumasach on February 10, 2014

Doug Noland

Asia Times

Global markets have turned highly unsettled. … Currency markets have turned treacherous. Those short the commodity currencies abruptly found themselves on the wrong side of a squeeze.

Overall, global markets these days convulse between “risk off” and “risk on” – in bloody trench warfare between market bulls and bears. Greed and fear vacillate between the two camps. …

Bill Gross’ February piece, “Most ‘Medieval'”, provides an insightful read. …”The days of getting rich quickly are over, and the days of getting rich slowly may be as well.”

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Jim Willie-US $ implosion and petrodollar demise in 2014

Posted by seumasach on February 8, 2014

Posted in Financial crisis, Multipolar world | Tagged: , , , | Leave a Comment »

Why is the Federal Reserve tapering the gold market?

Posted by seumasach on January 31, 2014

“In other words, perhaps the Fed understands that a dollar crisis is a bigger crisis than a bank crisis and that its bailout of the banks is undermining the dollar. The question is: will the Fed let the banks go in order to save the dollar?”

Paul Craig Roberts

RINF

30th January, 2014

In former times, the rise in the gold price was held down by central banks selling gold or leasing gold to bullion dealers who sold the gold. The supply added in this way to the market absorbed some of the demand, thus holding down the rise in the gold price.

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European court rejects UK challenge against EU short-selling ban

Posted by seumasach on January 29, 2014

Philippe Lamberts, a Belgian Green MEP, said the ruling was “excellent news for those who believe that financial markets need regulation at EU level”.

FT

22nd January, 2014

Britain suffered a serious defeat in its campaign to limit the power of EU financial watchdogs after Europe’s highest court dismissed London’s attempt to prevent Brussels from winning powers to ban short selling.

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Posted in Battle for Europe, Financial crisis | Tagged: | Leave a Comment »

 
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