Vast liabilities are being switched quietly from private banks and investment funds onto the shoulders of taxpayers across southern Europe. It is a variant of the tragic episode in Greece, but this time on a far larger scale, and with systemic global implications.… Read More Unpayable Debts and an Existential EU Financial Crisis – Are Eurozone Central Banks Still Solvent?
Check the newswire on any given day and you’ll see any number of government regulators looking to get their regulatory mitts on the cryptocurrency.… Read More The Coming Bitcoin Crackdown
Rarely heard in association with senior central bankers and financial regulators are words or expressions like “accused”, “charged” or “under investigation.” But in Spain this week a court broke with that tradition, in emphatic style.… Read More The Unthinkable Just Happened in Spain
The week that Donald Trump shocked markets around the globe by getting himself elected President of the United States, Wall Street banks like Citigroup, JPMorgan Chase, Bank of America and others traded millions of shares of each other’s stocks – as well as trading millions of shares of their own publicly traded stock.… Read More Wall Street Banks Are Trading in Their Own Company’s Stock: How Is This Legal?
A hot new bail-in-able debt cooked up by France’s elite corps of financial engineers … Read More Biggest EU Banks Embark on the Mother of All Debt Binges
Washington is preparing to launch what James Rickards, sometimes advisor on capital markets to the US intelligence community, refers to as “currency wars.” Aside from the obvious China target, the second and perhaps more important target is to destroy the Euro and its European Monetary System… Read More Will Trump Destroy the Euro?
BlackRock and other big funds have acquired such large shareholdings throughout the U.S. and our increasingly cartelized global economy that they cause the companies they jointly own to compete less vigorously with one another.… Read More It’s Time We Talked About Our Owners
Under Trump, an even smaller group will flourish — in particular, a cadre of former Goldman Sachs executives. To put the matter bluntly, two of them (along with the Federal Reserve) are likely to control our economy and financial system in the years to come.… Read More Trump Hearts Goldman as the Bank Continues Its Washington Conquest
The new inquiry will delve into Draghi’s membership of the Group of Thirty, a secretive forum of influential finance executives, academics, and policy makers that was founded in the late seventies at the initiative of the Rockefeller Foundation.… Read More ECB’s Insider Connections Under Scrutiny Again
Simple logic would suggest that when a bank is a serial recidivist lawbreaker, the fines should be going up, not dramatically shrinking; its top management should be ousted and a new Board appointed. None of that is happening.… Read More Citigroup’s Crime Spree Against Americans Continues With Slaps on the Wrist
The infamous banking company, which was widely implicated in the 2008 economic crash, appears to have come out on top in the most recent U.S. presidential election.… Read More If Anyone ‘Rigged’ the Presidential Election, It Was Goldman Sachs