Category: Financial System
Financial System
EC fines bank record 1.7 Billion Euro
Today, the European Commission has fined six financial institutions for a total fine of $2.3 Billion USD, a record fine. This takes the total tally to $6 Billion in fines. It makes one wonder, at what point do the fines get so high that the activities they are being fined for are not net profitable? […]
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What keeps Bill Gross up at night: Winged Eagles
When the “Bond King” who manages the world’s largest bond fund at Pimco loses sleep, we should ask why. Bill Gross is famous (or infamous) for writing self-certified philosophical pontifications of the markets. In his latest, he agrees with his partner Mohamed, but that the “T” the markets might experience might resemble more a “winged […]
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Auction System Failure Forces US Treasury To Postpone 3, 6-Month Bill Auctions
It’s hard to believe that the computer systems running multi-billion dollar markets are crashing, like the Nasdaq has been doing on a near weekly basis. But now it’s happening to the US Treasury market. It makes one wonder about the real stability of our markets, when the systems that run them are constantly breaking. While […]
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Chart: The Fed Now Owns One Third Of The Entire US Bond Market
So called “Fed Speak” is really just another word for “Doublespeak” presented differently. When JPMorgan Chase imposed capital controls on certain account types, the next day they explained there are no capital controls this is ‘derisking’. The Fed is ‘monetizing’ debt, or in other words, buying the government. However the language reads, the Fed now […]
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Bitcoin crashes 31%
In a roller coaster ride of a high of $1242 and current price near $868, Bitcoin is volatile like the markets during the credit crisis. From Zero hedge: From it’s gold-matching highs at $1242 on Thursday night, the price of Bitcoin has collapsed 31% to $868 on heavy volume. Of course, this is only a one-week low […]
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Bitcoin Worth More Than Gold
Bitcoin is continually being driven higher by a number of forces, such as gaining credibility by now being legally accepted by merchants, being discussed as currency in front of the US Senate, and a general fear of paper currencies collapsing. From Zero Hedge: UPDATE: … And then Bitcoin collapses 13% minutes later… [5] It […]
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The 10 Corporations That Control Almost Everything You Buy – Illusion of Choice
We are presented choices; Coke vs. Pepsi, KitKat vs. Snickers, etc. Tracing back 99% of products we are offered as choices leads back to 10 main corporations. While these represent the retail market, the same is true for most components of society, politics, defense, computing, healthcare. Also interesting is how although even the 10 corporations […]
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Banks warn Fed of possible charges to depositors, negative interest rate
Banks have warned that if the Fed lowers the deposit rate on deposits they hold at the Fed (currently .25%) they would need to pass on the cost to the end user (depositor) to cover costs of Federal Insurance (FDIC) and other overhead costs associated with holding deposits. Passing on fees to customers would likely […]
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