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.
Posted by seumasach on May 19, 2012
Spiegel
15th May, 2012
Germany has gold reserves of just under 3,400 tons, the second-largest reserves in the world after the United States. Much of that is in the safekeeping of central banks outside Germany, especially in the US Federal Reserve in New York. One would think that with such a valuable stash, worth around €133 billion ($170 billion), the German government would want to keep a close eye on its whereabouts. But now a bizarre dispute has broken out between different German institutions over how closely the reserves should be checked.
Read more
Posted in Battle for Europe, Financial crisis | Tagged: german gold reserves | Leave a Comment »
Posted by seumasach on May 18, 2012
GEAB N°65 is available! Global systemic crisis / Second half of 2012 – Convergence of four explosive factors: Banks-Stock Exchanges-Pensions-Debts
LEAP 2020
16th May, 2012
Whilst waiting for Euroland to equip itself, by the end of 2012, with a medium to long term common political, economic and social project, especially following the election of the new French president François Hollande, anticipated many months ago by LEAP/E2020, players will remain prisoners of the short-term reflexes related to the sudden Greek political tremors, the uncertainties over Euroland governance and to the risks in public debts.
Read more
Posted in Battle for Europe, Financial crisis | Leave a Comment »
Posted by seumasach on May 16, 2012
CNBC
15th May, 2012
The time where investors are no longer willing to accept negative yields on U.S. Treasurys is near, warned Bill Gross, manager of Pimco, the world’s largest bond fund.
Read more
Posted in Financial crisis | Tagged: dollar collapse, End of empire, US treasuries bubble | Leave a Comment »
Posted by seumasach on May 13, 2012
While Fitch saw the size of the loss as manageable, “the magnitude of the loss and ongoing nature of these positions implies a lack of liquidity,” the ratings agency said.
FirstPost
13th May, 2012
New York/London: JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry.
Read the rest of this entry »
Posted in Financial crisis | Tagged: fall of the house of Morgan | Leave a Comment »
Posted by seumasach on May 12, 2012
Guardian
11th May, 2012
The City trader at the centre of a $2bn trading loss at JP Morgan Chase had returned to his home in Paris on Friday as the repercussions of the loss spread across the markets.
Read more
Posted in Financial crisis | Tagged: fall of the house of Morgan | Leave a Comment »
Posted by seumasach on May 11, 2012
JP Morgan chief reveals $2bn trading loss caused by ‘sloppiness’
Guardian
11th May, 2012
JP Morgan Chase, America’s biggest bank, issued a surprise trading update after US markets had shut on Thursday, admitting it had incurred $2bn (£1.2bn) of trading losses in the past six weeks.
Read more
Posted in Financial crisis | Tagged: financial collapse | Leave a Comment »
Posted by seumasach on April 30, 2012
Vijay Prashad
Asia Times
1st May, 2012
Last Thursday. the delegates at the United Nations Conference on Trade and Development (UNCTAD) came to the closing ceremony. It was delayed by a few hours because the final document needed to be translated. A short delay was acceptable. Far worse would have been deadlock on the final declaration. It would have delivered a victory to those who want to see UNCTAD’s ability to continue doing its work curtailed.
Read more
Posted in Financial crisis, Multipolar world | Tagged: BRICS(Brazil-Russia-India-China-South Africa), global north v. global south, global south, United Nations Conference on Trade and Development (UNCTAD) | Leave a Comment »
Posted by seumasach on April 30, 2012
“how we get our banks lending, how we make sure the money goes into infrastructure, how we make it easier for businesses to employ people, how we boost our exports, how we make sure that manufacturing and the rebalancing in our economy takes place”, adding: “All of those things are on the table.”
Cameron continues to raise the same problems without presenting any solutions. Britain is engulfed in a downward spiral, adrift without leadership. In this context, the Eurozone, which we have failed to destroy despite all our efforts, provides a convenient scapegoat.
Guardian
29th April, 2012
David Cameron on Sunday held out the prospect of the UK economy being dragged down for years, as he predicted the euro crisis was “nowhere near half complete” and warned the single currency may yet break up. He also admitted efforts to move the UK economy away from dependence on the City and the public sector were not going fast enough.
Read more
Posted in UK economy | Tagged: bankrupt Britain | Leave a Comment »
Posted by seumasach on April 29, 2012
Telegraph
28th April, 2012
Fears for a slide in property values emerged after new figures revealed last week that the UK has “double-dipped” into a fresh downturn.
Read more
Posted in UK economy | Tagged: bankrupt Britain, housing slump | Leave a Comment »
Posted by seumasach on April 28, 2012
Telegraph
27th April, 2012
The final-salary pensions shortfall of the FTSE 350 companies has swollen from £20bn at the end of March 2011 to £80bn at the end of last month, according to pensions firm Hymans Robertson.
Read more
Posted in UK economy | Tagged: dwindling pensions | Leave a Comment »
Posted by seumasach on April 25, 2012
New York Mag
24th April, 2012
The high-stakes game of lost-and-found for the missing $1.6 billion MF Global funds apparently reached a conclusion on Tuesday.
Read more
Posted in Financial crisis | Tagged: financial fraud, MF Global | Leave a Comment »
