Transparency

Tyler Durden's picture

Redlined Comparison Of The Eurogroup Draft Varoufakis Was Ready To Sign, And The Draft He Rejected





What exactly was the reason for the Greek disagreement? Now that both the acceptable, pre-revision (source), and rejected, post-revision (source) texts are available, we can find precisely which inserted and deleted words infuriated the Greeks so much. Presenting: the red-line (or rahter blue-line) comparison between the two drafts, none of which was ultimately signed by anyone.

 
Tyler Durden's picture

Will China's Currency Peg Be The Next To Fall?





A pegged currency rises and falls against other currencies along with the underlying currency. Now that the USD has gained 16% in less than a year, that rise is dragging the RMB higher with it, making China's goods less competitive in markets outside the U.S. (and countries which use the USD as their currency). This major move has prompted Chinese authorities to widen the peg's range to allow the RMB to weaken slightly against the dollar. Japan's stunning devaluation of the yen has prompted much speculation that China will be forced to either end the peg to the USD or loosen the peg to match the depreciation of the yen.
 
Tyler Durden's picture

Second Thoughts On US Official Gold Reserves Audits





What is not often covered in the media are the audits of the US official gold reserves stored at the US Mint, which is the custodian for 95 % (7716 tonnes) of the stash – nowadays also referred to as custodial deep storage, and at the Federal Reserve Bank Of New York that safeguards the remaining 5 % (418 tonnes). The lawful owner of the US official gold reserves is the US TreasuryPart one covered the most recent records I could find published by the US government, in this post we’ll examine more historical records and approach this matter from a more critical angle.

 
Tyler Durden's picture

"Independent" Fed Lobbies GOP Against Audit





Because nothing says "independence" like snuggling up to the newly Republican-controlled Congress. Having, in recent years, been accused of being too closely aligned with Democrats, WSJ reports that the Fed's "Liaison Office" - which lobbies for the bank's interest on Capitol Hill - has begun cultivatinmg relationships with the GOP in a desperate bid to evade Rand Paul's "Audit The Fed" Bill.

 
Tyler Durden's picture

From Small 'Grexit' Dominoes, Global Crises Grow





Greece has the potential to be the small domino that ends up toppling much larger dominoes.

 
Tyler Durden's picture

Elizabeth Warren Opposes "Congressional Meddling" 'Audit The Fed' Bill





It would appear the powers that be are getting nervous. Yesterday, Fed Governor Jerome Powell (and Fisher and Plosser) stepped up the central bank’s push against what he termed congressional efforts to extend political influence over monetary policy, calling them "misguided" and "in violent conflict with the facts." Today we have Senator Elizabeth Warren trying to sound supportive of transparency but proclaiming that she opposes Rand Paul's "Audit The Fed" Bill because it promotes "congressional meddling in the Fed’s monetary policy decisions," and has "dangerous implications for financial stability and the health of the global economy."

 
Tyler Durden's picture

The Singularity Is Already Here - It's Name Is Big Data





It seems like everyone and his brother today are wringing their hands about AI and some impending “Singularity”, a moment of future doom where non-human intelligence achieves some human-esque sentience and decides in Matrix-like fashion to turn us into batteries or some such. Please. The Singularity is already here. Its name is Big Data. Big Data is magic, in exactly the sense that Arthur C. Clarke wrote of sufficiently advanced technology. But here’s the magic trick that we're worried about for investors...

 
Tyler Durden's picture

The NYT Exposes The Criminal Money-Laundering Underworld Supporting Manhattan's Luxury Housing Bubble





“We like the money,” said Raymond Baker, the president of Global Financial Integrity, a Washington nonprofit that tracks the illicit flow of money. “It’s that simple. We like the money that comes into our accounts, and we are not nearly as judgmental about it as we should be”... Mayor Michael R. Bloomberg said on his weekly radio program in 2013, shortly before leaving office: “If we could get every billionaire around the world to move here, it would be a godsend.”

 
Tyler Durden's picture

Greece: Are You Finally Ready To Do The Right Thing And Leave The Euro?





The era of living off borrowed money is over in Greece, and the Greek people now have a choice: they can continue down the path of poverty by leaving their culture of corruption unchanged, or they can grasp the nettle and support a new culture based on transparency, fiscal prudence and strict adherence to the basic rules of monetary management.

 
Tyler Durden's picture

Time For #GreekLivesMatter





If you are not part of the solution, you are part of the problem an accomplice. The Troika’s willingness to turn Greece into a failed state first, as a side effect of its “rescue the French and German banks” operation, and now, as part of its German hegemony protection racket, is killing people and in the longer term will only accelerate the rise of extreme right wing elements in the Eurozone. Readers in the US know that the #BlackLivesMatter campaign has succeeded in bringing people of all races together to protest police brutality against African Americans. Given The ECB, IMF, and Germany's moves, perhaps it's time for #GreekLivesMatter to get as much attention.

 
GoldCore's picture

Meet The New Gold Fix - Same As The Old Gold Fix





New Gold Fix To Be Run By Western and Chinese Banks - Still Not Transparent -- Replacement for the near-century-old London gold fix will start in March -- London gold fix to Shanghai gold fix - still not transparent --Stealth run on the London bullion market continuing?

 
Tyler Durden's picture

White House Considers Sending Antitank Missiles, Small Arms And Ammo To Ukraine "To Deter Russia"





While the US government has yet to opine on the recently leaked information during Joe Biden's November trip to Ukraine that, contrary to conventional wisdom, the US is already providing lethal aid to Kiev, and certainly has said absolutely nothing about the presence of US soldiers - either taxpayer funded or mercenary - on Ukraine soil, the topic of legitimizing lethal weapons is once again on the front of the White House agenda. According to the WSJ, "The U.S. government is considering providing Javelin antitank missiles, small arms and ammunition to Ukraine, part of an effort to try to deter further aggression by Russia-backed rebels there, according to U.S. officials."

 
Tyler Durden's picture

The Future of Medicine? Forget Private Doctor Appointments, Group Medical Visits are Coming





"According to the American Academy of Family Physicians, around 10 percent of family doctors already offer shared medical appointments, sessions that bring together a dozen or more patients with similar medical conditions to meet with a doctor for 90 minutes. With pressure from the government and insurers to bring down the cost of care while treating the increasing number of people with health insurance, patients can expect group visits to become more common. “It’s efficient. It’s economical.""

 
Marc To Market's picture

Preview of January FOMC Meeting and Beyond





Straight forward look at the Federal Reserve and what to expect.  

 
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