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.

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

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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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British exit from EU may scare off foreign investors

Posted by seumasach on January 19, 2014

British exit from EU may scare off foreign investors, admits Vince Cable

Guardian

18th January, 2014

Vince Cable has admitted that the government is battling to reassure foreign investors who are increasingly worried about a potential British exit from the European Union.

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EU lawmakers reach agreement on bank rescue rules

Posted by seumasach on December 12, 2013

“Shareholders and bondholders would be first in line, with savers last in the queue, while tapping public money to prevent a bank collapse would only be done as a last resort.”

This is an important step towards ending the hegemony of finance capital in Europe.

EU Observer

12th December, 2013

BRUSSELS – MEPs and ministers have agreed new rules to rescue insolvent banks that would target bondholders not savers, following the final round of talks in Strasbourg.

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Li: Britain and China “indispensable and equal partners”

Posted by seumasach on December 3, 2013

Li said Britain and China were indispensable and equal partners, noting the prime minister’s recent approach to Beijing by acknowledging the territorial integrity of China – diplomatic code for accepting Beijing’s rule over Tibet.

Li said: “We have become indispensable partners for each other’s development. China and the UK must treat each other as equals.”

From Guardian, 2nd December, 2013

Posted in Multipolar world, UK economy | Tagged: | Leave a Comment »

UK seeks Chinese investment

Posted by seumasach on December 3, 2013

“We think we have a lot to learn from China because of the success of your high-speed rail. I said to your president and prime minister yesterday that just as we welcome Chinese investment into nuclear power, into other infrastructure so there will be very open competition to provide the infrastructure for our network. We will welcome Chinese investment into that.”

Guardian

3rd December, 2013

UK would welcome Chinese investment in HS2, says David Cameron

David Cameron has told the Chinese leadership that he would welcome investment by Beijing in Britain’s high-speed rail network.

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Jim Willie on GCR(Global Currency Reset)

Posted by seumasach on November 30, 2013

Posted in Financial crisis | Tagged: , , , , | 1 Comment »

PBOC says no longer in China’s interest to increase reserves

Posted by seumasach on November 24, 2013

Bloomberg

21st November, 2013

The People’s Bank of China said the country does not benefit any more from increases in its foreign-currency holdings, adding to signs policy makers will rein in dollar purchases that limit the yuan’s appreciation.

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£1,430,000,000,000 (that’s £1.43 trillion): Britain’s personal debt timebomb

Posted by seumasach on November 22, 2013

Independent

20th November, 2013

Britain faces a timebomb as the cost of living crisis forces more people into crippling debt they will not be able to repay, according to a major study published today.

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