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 →There is lots of news today about how the newly non-elected leader of Italy is proposing spending cuts. That’s what the headlines say. The New York Times reports: In the process, European leaders will begin to change the fundamental structure of the union, creating a form of centralized oversight of national budgets, with sanctions for [...]
Continue reading →Yesterday’s intervention by six central banks indicates how close to the edge of a financial crisis the world now is. A hard-hitting article in Britain’s Guardian reveals how close to a breakdown banks are in. The stunning move by six central banks to announce emergency measures to push more dollars into the financial system shows [...]
Continue reading →