Appears that Russia is now messing with the Fed. Somebody just yanked $105 billion dollars worth of US government bonds out of the Federal Reserve, according to the latest data from the US central bank.
Russian companies are pulling billions out of western banks, fearful that any US sanctions over the Crimean crisis could lead to an asset freeze, according to bankers in Moscow.
Sberbank and VTB, […]
According to weekly Fed data, a record amount – some $105 billion – in Treasuries had been sold or simply reallocated from the Fed’s custody accounts, bringing the total amount of US paper held at the Fed to a level not seen since December 2012.. While China was one of the culprits suggested to have withdrawn the near USD-equivalent paper, a far likelier candidate was Russia, which as is […]
In cold war style, US Senators have urged the Obama administration to freeze assets of three major Russian banks, ban their activities in the US, and deny employees’ entry into the country on the suspicion they are doing business with the Assad regime.
Having failed to galvanize allies for military action, and politically trumped by President Putin’s proposal for peaceful intervention in Syria, American congressmen have now turned to soft […]
The FED is not ready to taper. All bank and other financial institutions were making cases that the FED was going to taper and they didn’t. Before the FED tapers the US government needs to continue with the propaganda that the economy is getting better, they will do this until all Americans believe it. Then they need to start the war, confiscate the guns, and control the internet. Once […]
A slim victory for the main conservative party in an election in Greece should relax fears that a country will stop using the euro for the first time and possibly unleash global financial turmoil.
But when it comes to Greek politics – and European economic policy – it’s never that easy. So the bumpy ride for financial markets isn’t over yet.
The conservative New Democracy party, which supports […]
Euro crisis far from over, stock analysts warn
WASHINGTON (AP) — A slim victory for the main conservative party in an election in Greece should relax fears that a country will stop using the euro for the first time and possibly unleash global financial turmoil.
But when it comes to Greek politics – and European economic policy – it’s never that easy. So the bumpy ride for financial markets isn’t […]
Stock markets were topsy-turvy on Friday, reflecting ongoing concern on the euro crisis
Italy’s cost of borrowing has reached a record high, despite the deal reached to contain the eurozone debt crisis.
Italy paid 6.06% to borrow for 10 years at an auction on Friday, the most since the euro was created in 1999.
The rate jumped from 5.86% – the previous record high – at its last […]
1) U.S. dollar could ‘collapse': UN
“The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.
In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.
The report, […]
(Updates with Kostin’s quotes starting in fourth paragraph.)
May 26 (Bloomberg) — Andrei Kostin, chief executive officer of VTB Group, Russia’s second-biggest bank, said global instability and the risk of the U.S. defaulting on its debt continue to roil the financial industry, stifling credit flows.
“The constant threat of a financial crisis, defaults hangs over the financial banking sector, and on the whole, the overall situation on the global […]