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A Streetwise Hercules at the Bank of England by Ben Traynor BullionVault Wednesday 28 November 2012
Mark Carney’s been hired to bang bankers’ heads together…
WHERE have all good men gone
We imagine Britain’s chancellor George Osborne has been humming this tune to [...] Private companies should be able to buy land on The Moon or other planets for tourism, mining or even to sell property, a space policy expert has said. Rand Simberg said that if governments started to provide property rights then entrepreneurs and billionaires might pile in and invest – and added that the ‘time is ripe’. He has proposed a law that would circumvent the 1967 Outer Space Treaty, which states no [...] Uploaded by CapitalAccount on Feb 29, 2012 Follow us @ US regulators are holding roundtable talks today about how to protect customer’s money. To keep it from basically being stolen. This is in the aftermath of the MF Global collapse of course. We’ll speak to a lawyer by the name of James Koutoulas who represents 8000 MF Global customers in the bankruptcy. He says new US regulations won’t stop firms from going the [...] by ZH When at first you don’t succeed… At this point they aren’t even trying: the main upward moving rumor yesterday, for those who have an HFT algo’s memory span, was that somehow the ECB would circumvent its charter, something which was expressly denied by every German involved, and lend directly to the IMF which in turn would lend to troubled countries. Because nobody would see through that particular ruse. Well the rumor [...] Telegraph.co.uk Mr Wen said he had spoken to José Manuel Barroso, the president of the European Commission, laying the conditions for Chinese intervention. Photo: Reuters Premier Wen Jiabao said his country and will play its part to “prevent the further spread of the sovereign debt crisis,” but warned that China will not sign a blank cheque for states that have failed to carry out full [...] by ZH And while the developed world wonders whether or not Greece will default (it will), the real news continues to come from the new “White Knight” and IMF replacement, China, which according to the China Securities Journal is about to see an unprecedented surge in inflation, making life for the schizophrenic PBoC (on one hand handing out liquidity, on the other reeling it back in with [...] by ZH Like clockwork, hours before the US market reopens, we get another Greece bailout. Since last week’s Chinese white knight “rescue” of Portugal helped the EUR for about 18 hours, it is now time to get the biggest guns possible out: the WSJ reports that Germany, contrary to populist demand which has indicated that another German bailout of Greece would mean the end of Angela [...] by ZH After watching these three clips we fail to see how even the most optimistic of individuals see the situation as resolving with anything but entombment, which however judging by the urgency in Japan’s actions will be the first even on the agenda…in 2015.
In other Fukushima news, we learn that after declining for a few days, the seawater around the reactor has once again [...] by chindit They are the sacrificial lamb. They are out of towners, without cache, without prestige, and without a White Knight (even WFC has Warren). BAC will be the Lehman of the big banks. Unlike Dick Fuld, however, Ken Lewis will do time. The markets will undergo some turmoil, albeit less than when LEH went down. There will be feigned panic on Capitol Hill and just east of the East Wing, [...] Oh goody we have sent in the savior, the IMF! Time to crack open the champagne because there is NO need to worry. This is the entire problem with the GLOBAL ECONOMY. The world has spent like drunken sailors, the world has spent all they can spend, bought above their means, lived off credit, lied about liabilities, lied about spending, say they have sound financial book for years, covered everything [...] |
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