• GoldCore
    08/01/2014 - 02:42
    The stealth phenomenon that is silver stackers or long term store of value buyers of silver coins and bars continues and is seen in the record levels of demand for silver eagles from the U.S. Mint....

Federal Deposit Insurance Corporation

Tyler Durden's picture

The (Other) Truth About The Financial Crisis: 10 "Geithner-Sized" Myths Exposed





After the crisis, many expected that the blameworthy would be punished or at the least be required to return their ill-gotten gains—but they weren’t, and they didn’t. Many thought that those who were injured would be made whole, but most weren’t. And many hoped that there would be a restoration of the financial safety rules to ensure that industry leaders could no longer gamble the equity of their firms to the point of ruin. This didn’t happen, but it’s not too late. It is useful, then, to identify the persistent myths about the causes of the financial crisis and the resulting Dodd-Frank reform legislation and related implementation...."Plenty of people saw it coming, and said so. The problem wasn’t seeing, it was listening."

 
GoldCore's picture

Interview: Bailins May Cause Bank Runs and Capital Controls In Western World - Russia, China Opt Out





And in Cyprus when it happened, the authorities said it was a once-off, because of all of the hot Russian money that is in Cyprus, and this will not happen anywhere else...but meanwhile they are planning for that scenario in most of our countries. People need to be aware of that and they need to prepare.

 
testosteronepit's picture

When $1.2 Trillion In Foreign ‘Hot Money’ Parked At The Fed Dissipates





Fits the pattern of gratuitous bank enrichment perfectly. But this time, the beneficiaries of the Fed are foreign banks.

 
Tyler Durden's picture

Re: Bank Of America. Remember The Lessons From Cyprus





Last month, Bank of America made a lot of noise about how they were going to buy back up to $5 billion worth of common shares. As CEO Brian Moynihan stated, “We have simplified our company and we have more than adequate capital to support our strategic plans. We are well positioned to return excess capital to our shareholders.” Needless to say, investors cheered the announcement, and BofA’s stock price rose nicely as a result. Fast forward 45 days… and boy what a difference reality makes.  Remember the lessons from Cyprus: last March, people went to bed on a Friday night thinking everything was just fine. The next morning they woke up to find that their entire banking system was insolvent and that the government had frozen their accounts.  Bottom line, just because they tell you the money’s there doesn’t mean the money’s there. Just because they tell you they’re well capitalized doesn’t mean they’re well capitalized.

 
testosteronepit's picture

Biggest Credit Bubble in History Runs Out Of Time





 “On the way in, there’s insatiable demand.” Alas, “it’s going to be a disaster on the way out.”

 
Tyler Durden's picture

Depositor In Failed Russian Bank Loses It, Takes Hostages, Demands $700,000 Ransom





Earlier today, the Central Bank of Russia announced that starting April 21, it would revoke the license of Moscow’s Bank Zapadny. According to reports, "the bank had cooked its books and failed to comply with regulations on the amount of assets a financial organization must maintain to ensure its stability, the central bank said." In other words, your typical FDIC Failure Friday only on Monday morning. Hardly notable. It is what happened next that was shocking. Shortly after the bank shutdown announcement, an armed man took three hostages at a Belgorod branch of precisely this failed Bank Zapadny. Tt appears this may simply be the latest case of a disgruntled bank client taking matters into his own hands.  As RT reports, "he may be a client of the bank wishing to withdraw his deposit despite the bank losing its license.....Life News tabloid says it has identified one of the attackers as 46-year-old Aleksandr Vdovin, a client who holds the bank’s promissory notes for a large sum, and who decided to reimburse them at gunpoint."

 
Tyler Durden's picture

A Year Later, Cyprus Still Has "An Emergency Situation" And Capital Controls





Just over a year ago, people across Cyprus went to bed thinking everything was just fine. They woke up the next morning to a brand new reality: their government AND their banking system were flat broke. Cash withdrawal limits were imposed. Funds transfers were curtailed. Cypriots were even forbidden from doing something as simple as cashing a check. These destructive tactics are called capital controls. And one year later they’re still in place. Naturally, since this is an “emergency situation” in their view, they have to impose these “restrictive measures” in order to safeguard “public order and public security”. In other words, capital controls are for your own good.

 
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Equity Futures Languish Unchanged Ahead Of FOMC Minutes





The positive sentiment stemming from a positive close on Wall Street and saw Shanghai Comp (+0.33%), Hang Seng (+1.09%) trade higher, failed to support the Nikkei 225 (-2.10%), which underperformed its peers and finished in the red amid JPY strength as BoJ's Kuroda failed to hint on more easing. Stocks in Europe (Eurostoxx50 +0.32%) traded higher since the open, with Bunds also under pressure amid the reversal in sentiment.
Alcoa kicked off earnings season yesterday, with shares up 3% in after-market hours. Focus now turns to the release of the FOMC meeting minutes.

 
Tyler Durden's picture

Guest Post: 2016 Wishes - A President Who Doesn't Kiss Wall Street's Rear-End





Is there any hope that we might actually elect a president with the mandate and courage to take down Wall Street instead of kissing its rear end in humiliating obeisance? The 2016 presidential election may be far away to those obsessed with the news cycle, but it's not too early to express one single hope: that we finally elect a president who doesn't kiss Wall Street's rear end every single day for four/eight years running. Either the next president issues an executive order (or whatever it takes) to enact these four administrative rules, or he/she is kissing Wall Street's rear end every single day of his/her administration.

 
Tyler Durden's picture

Live Hearing On Financial Stability And Data Security





Moments ago, the Senate Banking Committee started a hearing on the topic of "Financial Stability And Data Security." We assume the topic discussed will be financial stability, the highly diluted final version of the Volcker Rule, Dodd Drank, the London Whale, and other things legislators have no understanding of. As such it will be a complete waste of time, and the only thing that can possibly force anyone to fix the broken system is the next systemic crash, one which the central banks, already all in with their bailout efforts, will be unable to resolve.

 
Tyler Durden's picture

Frontrunning: January 28





  • Emerging markets pray for Wall Street tumble (Reuters)
  • Yellen Faces Test Bernanke Failed: Ease Bubbles (BBG)
  • Samsung sets new smartphone sales record in fourth quarter, widens lead over Apple (Reuters)
  • China’s Foreign-Reserves Investment Chief Said to Depart Agency (BBG)
  • China’s Rescue of Troubled Trust May Stoke Risk-Taking (BBG)
  • Ukraine PM Azarov offers to resign 'to help end conflict' (Reuters) ... And Russia says may reconsider aid if this happens
  • But... but... it was all gold's fault: India Unexpectedly Raises Rate as Rupee Risks Inflation Goal (BBG)
  • Former Belgian king 'boycotting' public events after complaining £760,000 is not enough to live on (Telegraph)
  • Greek disposable income tumbles 8% in Q3 (Kathimerini)
 
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