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Muni Bonds as AAA Bank Capital

Written by Gary North on April 25, 2015

bonds

The Federal Reserve System is planning to issue new rules that will allow banks to buy municipal bonds as credit reserves for banks. Follow the logic: banks will supply capital to cities, which will serve as credit for banks. This is modern banking 101. This new arrangement will help provide a floor for cities’ debt. […]

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My Bank vs. The Biggies

Written by Gary North on April 25, 2015

bank-of-the-ozarks

I bank at the Bank of the Ozarks. I have for almost 16 years. The bank bought out a bankrupt Georgia bank a mile down the road from my home. The Bank of the Ozarks has utterly creamed the big multinational banks over the last ten years. So have a lot of other regional banks. […]

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Banker Says: “Abolish Cash!”

Posted on April 18, 2015

cash

The world’s central banks have a problem. When economic conditions worsen, they react by reducing interest rates in order to stimulate the economy. But, as has happened across the world in recent years, there comes a point where those central banks run out of room to cut — they can bring interest rates to zero, […]

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Big Bank Bust: Layoffs

Posted on April 1, 2015

bank-layoffs

Top European and U.S. banks axed 59,000 jobs last year as they restructured and cut costs, with headcount expected to shrink further in Europe as bosses strive to improve profitability that has been hit hard by tougher regulation. Lenders have also sold or shut businesses to narrow their focus to avoid falling foul of regulators […]

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Free Market Money vs. FED and Greenbacks

Written by Robert Murphy on March 12, 2015

greenbacks-and-gold

For more than a century, skeptics of government power have rightly focused on the damage caused by interventions in money. As the market’s classic commodity monies have been displaced by unbacked State-issued paper, libertarians — particularly those versed in Austrian economics — have disparaged fiat currencies and championed commodity-based money, especially gold and silver. Unfortunately, […]

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Subprime Auto Loans Take a Hit

Posted on March 5, 2015

auto-loans

by Wolf Richter Wells Fargo, which originated $30 billion in auto loans last year, has for the first time put a cap on subprime auto loans, limiting the dollar volume of subprime loan originations to 10% of its total auto loan originations. The New York Times reported that the bank, “according to people briefed on […]

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Russian Central Bank Surrenders: Inflates

Written by Gary North on January 30, 2015

russian-central-bank

Six weeks ago, I ran this headline: Russia: A Depression Draweth Nigh. The central bank of Russia had just hiked the interest rate to 17%. There was no question in my mind what would happen next. Now the economic blind men who make decisions at the Russian central bank have belatedly figured out that my […]

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Goodbye, Euro. Hello, National Sovereignty.

Written by Gary North on January 5, 2015

The leader of Greece’s far Left party says the party will pull the country out of the Eurozone if it comes to power in late January. It is expected to come to power. This will allow Greece to restore its national sovereignty over money. That will lead to more inflation. The Greek central bank will […]

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The FED’s Christmas Present to Big Banks

Posted on December 19, 2014

federal-reserve

WASHINGTON — Christmas came early for Wall Street this year. The Federal Reserve on Thursday granted banks an extra year to comply with a key provision of the Volcker Rule, a move that gives financial lobbyists more time to kill the new regulation before it goes into effect. The Volcker Rule is a key element […]

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