Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on August 13, 2012
Bank regulators for the United States government have been working secretly for two years with the five largest U.S. banks, It has required them to draw of “last wills and testaments” in case they go under. This is sensible. O\If one or more go bust in the next crisis, the government wants a fast transition. […]
Continue reading →Written by Gary North on January 4, 2012
The story of the TARP bailout is the story of how the Federal Reserve bailed out the banks a week after the government had bailed out the banks’ shareholders. The FED could have intervened a week earlier. It didn’t. It kept the biggest banks in business, so that their shareholders would avoid losing everything. Let’s […]
Continue reading →Written by Gary North on January 4, 2012
How did bank shares do in 2011? Bad. Incredibly bad, as we read here. BofA: -60.38% Citi: -44.76% Goldman Sachs: -46.41% JPMorgan: -23.03% Morgan Stanley: -45.24% RBS: -50% Barclays: -34.32% Lloyds: -63.02% UBS: -29.33% Deutsche Bank: -28,55% Crédit Agricole: -56.04% BNP Paribas: -37.67% Société Générale: -59.57% Bank of America was the biggest loser among US […]
Continue reading →Written by Gary North on December 14, 2011
The banks are in trouble. They have been the worst-performing sector in 2011. If the economy is strong, why are the banks weak? A Reuters story reveals the problem. The sector is down 20 percent this year, by far the worst performer in the S&P 500. The weakness has been so pervasive that the S&P, […]
Continue reading →Written by Gary North on November 28, 2011
You have to read between the lines of articles relating to the crisis in Europe. The central fact is this: the 60-year experiment of the New World Order to consolidate Europe into the United States of Europe is in deep trouble. This consolidation has been central to all European politics ever since 1951. The attempt […]
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