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German lenders will be among the biggest beneficiaries of a Spanish bank bailout, with rescue funds helping to ensure they get paid back in full for poor lending decisions made in the run-up to the financial crisis, and helping politicians in Berlin avoid a politically sensitive bank bailout of their own. German lenders were among Europe’s most profligate before 2008, channelling the country’s savings to the European periphery in search of [...] kingworldnews.co With gold strengthening this week, today KWN wanted to speak with the firm that is calling for $10,000 gold to get their take on yesterday’s coordinated central bank actions. Paul Brodsky, who co-founded QB Asset Management Company, had some candid and rather scary comments about where the world is today, “This is drawing back the curtain to reveal exactly who is sovereign – the global banking system. There is no German [...] If anyone saw this coming, it was Ambrose. he has been on this scenario for years and yes, he is correct. Ireland will be kreditanstalt. German banks and German taxpayers will have to pay for this mess. The German banking system is holding trillions of worthless liabilities. The black hole will consume Berlin & Frankfurt. By Ambrose Evans-Pritchard Unless the ECB takes fast and dramatic action, it risks destroying the currency it [...] by Martin Hutchinson Brazilian minister of finance Guido Mantega last week accused the major economies of starting “currency wars.†To a large extent he was trying to divert attention from his own overspending misdeeds. However this week’s decision by the Bank of Japan to enter more “quantitative easing†and Chinese premier Wen Jiabao’s aggressive response to the EU/US campaign to force up the renminbi suggest that he’s right. Such a currency [...] |
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