Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
The banks of Italy and Spin escalated their borrowing from the European Central Bank in November. Italian banks had to borrow 153.2 billion euros in emergency liquidity from the ECB in November, up from 111.3 billion euros at the end of October, Bank of Italy data showed, another big leap in reliance on the central [...]
Continue reading →Occupy Wall Street has spun off a new movement: Occupy Homes. It is coming to a park in your city. Or maybe an empty house in your neighborhood. Be prepared. These people are not going to pay for motel rooms — not when there is an empty house or abandoned strip mall. Why pay, when [...]
Continue reading →The bank may fight you on this. It can’;t do much, but it can try. First, you may be asked to speak to the manager. You do not have to stand in line. You may be charged a fee to close the account. Leave two cents in it — your “two cents’ worth.” The bank [...]
Continue reading →When a big firm like MF Global goes under, taking investors’ funds with it, the investors will probably not get paid. The people of the other side of derivatives (futures) contracts will. Recently Bank of America transferred a bunch of derivatives into their banking arm. “A bunch” means somewhere around $80 trillion worth. Now pay [...]
Continue reading →Citigroup is the third largest U.S. bank. It plans to lay off 4,500 people. Its CEO said this: “Financial services faces an extremely challenging operating environment with an unprecedented combination of market uncertainty, sustained economic weakness in the developed economies and the most substantial regulatory changes we have seen in our lifetimes,” said Pandit, 54. [...]
Continue reading →There is an unofficial list of problem banks. There are 980 American banks on this list. Is one of them yours? Find out. Here is the unofficial problem bank list for Dec 2, 2011. (table is sortable by assets, state, etc.) Since the publication of the Unofficial Problem Bank List in August 2009, this is [...]
Continue reading →This goes after Obama, Occupy Wall Street, and all but one Republican candidate. Guess who.
Continue reading →The politicians in Europe are planning another summit meeting on December 9. The more summits they have, the more it becomes clear that they have no solution. If they did, they would need only one summit. Matthew Lynn nails it: “Every week we get another big search for a smart-sounding scheme to rescue the project. [...]
Continue reading →The big banks of Europe are facing disaster if Italy defaults. Unless the European Central Bank starts inflating, and soon, Italy will default. Will Europe let the banks go under? I doubt it. The leaders will finally save the system by bailing out the banks. That is the problem. David Weidner explains. If you understand [...]
Continue reading →Bloomberg had to get a Supreme Court ruling to get the Federal Reserve to turn over 29,000documents on the 2008/9 big bank bailouts. Slowly, journalists are finding out what happened. They are also finding out why the FED refused to turn them over, as required by the FOIA law. MarketWatch reports: The Fed didn’t tell [...]
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