The Canadian Government Offers "Bail-In" Regime, Prepares For The Confiscation Of Bank Deposits To Bail Out BanksSubmitted by Reggie Middleton on 03/30/2013 10:12 -0500
It's not just Cyprus, and no - it's not just Canada either. I'm preparing a list of specific banks that I have 1st hand knowledge that would prevent me from keeping my money in them. Get "Cyprus'd"!!!
This is precisely what I feared would happen: that any basic rules or laws would be tossed out the window during times of extreme crisis. This has unfortunately proven to be the case.
Mainstream Media Says Cyprus Salvaged By EU Deal, I Say Cyprus Is Sacrificed By Said Deal - Thrown Into DepressionSubmitted by Reggie Middleton on 03/25/2013 10:29 -0500
The IMF offered Cyprus a bailout with no specific amount or even range and no time period while in the process gutting confidence in the banking system by robbing depositors and imposing losses on bondholders. A Damn good plan if I ever heard one!!
Liar, Liar Banking System On Fire! Watch As I Spit Fact That Burns Down The Sham Formerly Know As The EU Banking SystemSubmitted by Reggie Middleton on 03/23/2013 07:21 -0500
Choice excerpts: "Have we forgotten what a bank is & what they are used for?" "The rules haven't been changed, they've been revealed!" Liar... Liar... Ass on Fire!!!
I was a little early, but just as I promised, those European bank runs are coming as expected. Wait until I release my newest EU crash analysis, Lehman x 3, nearly guaranteed!!!
You could even make a case that QE is part of TBTF. Chew on that for a while Shirley.
As is now confirmed, at least one of many JPMorgan margin calls directed at Lehman in the days before the world's biggest bankruptcy became fact, were based on glaringly erroneous information and an error so profound one wonders if this was not a premeditated "hit" on one bank by another bank. Yet a purposeful "hit" orchestrated by one bank, even JPMorgan, would require the involvement of the highest echelons of the US government. So was the US government complicit and give its blessing in this historic liquidation? The Abu Dhabi Investment Council would like to know.
No, American Banks DON'T Need to Be Big to Compete with Bigger Foreign Rivals
The 2011 changes by the FDIC to the safe harbor for "true sales" may have been the end of "Too Big To Fail."
From the "Bear Stearns is fine" man himself, circa 7 hours ago: "It is a monster move. A lot of people being left behind. A lot of shorts. This thing won't die. There is a show, again, very good ratings, The walking dead. You know, you can't shoot this thing. Shoot it in the head and nobody's been able to do it. This thing has legs.... Can't talk enough about it"
How many trillions of Dollars are we going to let the Fed spend? The Fed balance sheet is now over $3 trillion… making it larger than the GDP of France, the UK, or Brazil. Indeed, if the Fed’s balance sheet were a country, it’d be the FIFTH LARGEST COUNTRY IN THE WORLD.
Read on as the MSM pick up on what I've been ranting about for 2 years. Virtually every penny of the big banks' profits consists of taxpayer bailout money. This doesn't include the ~60% of revenue paid out as bonuses, of course!
If it ain't broke, how do you fix it? Here are a variety of solutions from practictioners, academics and investors.
Just watch markets lately and one realizes rather fast that more job cuts are on the way, and in a major way all across the spectrum from financial analysts, stock analysts, traders in most products, back office support staff, and management.
- Obama Paints Wider Role for Government in Middle Class Revival (BBG)
- Obama to Seek a New Trade Deal With EU (WSJ)... or this is strawman why 2016 GDP will be higher
- Mobile phone sales fall for the first time since 2009 (Telegraph)
- Sequester Looms, No Deal in Sight (WSJ)
- Neither US party swallows a compromise (FT)
- Embattled Economies Cling to Euro (WSJ)
- For China, Spending Is Harder Than It Looks (WSJ)
- Bank of England's Sir Mervyn King says recovery in sight (BBC) - just a little more inflation first
- G7 fails to defuse currency tensions (FT)
- Japanese Leader Urges Firms to Boost Wages (WSJ) - so does the US one
- Fed Bank Chiefs Back Money-Fund Overhaul (WSJ), or force everyone out of MMFs and into stocks