by Eric Janszen
â€¢ China tried to pop its property bubble once before but the global economic catastrophe caused the US financial crisis aborted the effort in 2008
â€¢ This week China re-launched the crash phase of its Greenspan Credit Bubble with Chinese Characteristics
â€¢ Watch out for flying bricks
Why donâ€™t central banks, and the governments they front for, ever learn? The only way to prevent macro-economic [...]
Thanks to successive years of fast economic growth and even faster government revenue growth, the official debt-to-GDP ratio was 17.7% at the end of last year, far lower than almost any other major economy.
The trouble is that excludes local government borrowing, the current surge in loans backstopped by Beijing and bad assets cleared from the banking system but still [...]
-First Credit Default Swaps (CDS) and Collaterized Debt Obligation (CDO) structures created by JPMorgan, led by Blythe Masters.
-JPMorgan leads industry transformation away from relationship banking towards credit trading.Â Goal is higher returns without assuming buy and holdÂ risk.
-Accounting and regulatory arbitrage generates significant revenues.
-Shifting of credit risk off bank balance sheets by pooling credits and remarketing portfolios, and buying default [...]
In 1867, an international monetary conference in Paris included a push for a shift from bimetallism (gold-silver) toward gold as the international standard. This policy was promoted by Britain and France. And by 1910, every major country was on gold — except China. As countries went to a gold standard, silver prices began to depreciate. This devaluation actually gave [...]