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Senior Banker’s Cancer: It’s Time to Retire

Written by Gary North on October 14, 2014

jamie-dimon

Jamie Dimon is the CEO of the largest U.S. bank, J. P. Morgan Chase.  He has cancer. After three months of absence, he has returned. If a bank can be run by a man getting cancer treatments, then it does not take much to run it. If a senior executive in a major outfit gets […]

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What’s RIGHT With the Euro

Written by Gary North on October 11, 2014

euro

You read that right. Right. I think like an economist. The economist always thinks in terms of alternatives. The economist’s mindset was expressed clearly by the late comedian, Henny Youngman. “How’s your wife?” “Compared to what?” One of the most common complaints against the eurozone is this one: “The eurozone is a central currency, but […]

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76 Million Americans Hacked Through J. P. Morgan Chase

Written by Gary North on October 3, 2014

morgan-chase

It was Matt Drudge’s lead story yesterday. It was the lead story on Google News this morning. Hackers got the records of 76 million Americans: names, addresses, phone numbers. Also stolen were the data on seven million businesses. The bank never admitted this to the public. It merely reported it in a mandatory filing with […]

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Keynes, Lenin, and Hyperinflation

Written by Gary North on September 25, 2014

keynes

In 1919, John Maynard Keynes became an international figure of considerable influence because of his book, The Economic Consequences of the Peace. It was a critique of the Versailles Treaty’s imposition of reparations payments on Germany in the aftermath of World War I. In that book, Keynes made the following observations. Lenin is said to […]

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Walmart Bank: Free Checking — No Overdraft Fees

Written by Gary North on September 24, 2014

walmart-banking

Walmart is about to give traditional banks a run for our money. For a $9.95 a month fee, if you don’t have $500 in the account, you will be able to get free checking — no extra fees. The banks have been cleaning up on overdraft charges and bounced check charges. In 2013, they pulled […]

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So, You Think Bank of America’s $16.5 Billion Settlement Will Go to Defrauded Homeowners

Posted on September 3, 2014

bank of america

Perhaps the biggest winners in the largely tax-deductible $16.5 billion U.S. Department of Justice’s recent settlement against Bank of America were B of A itself, public employee pension funds, state bureaucrats and political hacks. Attorney General Kamala Harris declared the settlement “brings help to hard-pressed homeowners and communities in California.” Analysis suggests that the biggest […]

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Pay for Big Bankers Has Fallen Since 2007

Written by Gary North on August 27, 2014

big-bankers

The free market is not alive and well in central bank-protected banking, but it is at least alive. Big banks are cutting back pay scales to employees. William Wright, who runs New Financial, a think-tank, has crunched the numbers on his website. He calculates that disclosed pay at big investment banks has dropped by more […]

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Europe Is Deflating. Keynesians Are Aghast.

Written by Gary North on August 12, 2014

euro-deflation

This gets little publicity. For two years, the European Central Bank has been shrinking its monetary base. Europe as a whole is close to recession, but prices are not falling. Keynesian analysts are fit to be tied. The ECB is supposed to inflate, like other central banks. It isn’t. This Washington analyst has little good […]

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