Category: Global Financial System
The news items published under this category are as follows.
Sunday, November 16, 2008
G20 Economic Summit Changes Nothing / Politics / Global Financial System
By: Richard_C_Cook
The G20 is meeting today in Washington, D.C., to discuss the world financial crisis, its causes, and what can be done about it. But this won't help the people of the U.S. who have been victimized by their own financial system.
The stated objectives are to find ways to stabilize and reduce speculation in the financial markets and make financial transactions more transparent, more efficient, and more international in scope. But this is also a revolt by the nations of the world against over-reliance on the U.S. dollar as the world's reserve currency. What we are likely to see over time is a multi-currency regime that includes the Euro and one or more Asian currencies as well.
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Friday, November 14, 2008
G7 Banking Systems Continue to Plunge into the Abyss / Stock-Markets / Global Financial System
By: Ty_Andros
As the G7 banking systems continue their plunge into the abyss, so do the world's economies. Public servants, governments and central banks are firing every policy option they have to keep the confidence of consumers and business from collapsing. NOTHING is working as the dominoes of confidence fall faster then they can run ahead of the game. The US and G7 governments are still trying to PICK winners and losers so confusion reigns supreme. Which set of corporate or financial elites will be let into the financial lifeboats and which shall be allowed to fail? That is the question. Read full article... Read full article...
Friday, November 14, 2008
The G-20's Secret Credit Crash Debt Solution / Currencies / Global Financial System
By: Money_and_Markets
Larry Edelson writes: If you think this weekend's G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks … think again.
Behind the scenes, a far more fundamental fix is being discussed — the possible revaluation of gold and the birth of an entirely new monetary system.
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Tuesday, November 11, 2008
Bretton Woods II- Roadmap Towards a New Financial System / Stock-Markets / Global Financial System
By: Axel_Merk
Following calls by European leaders for a "Bretton Woods II", the Bush administration has invited the " G-20 " countries to come to Washington with the lofty goal to reform the world financial system. Will the way we do business change November 15?
The first Bretton Woods conference, held in 1944, gave birth to the International Monetary Fund (IMF), the World Bank and - albeit with half a century delay - the World Trade Organization.
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Sunday, November 02, 2008
Time to Bunker Down as the Global Debt Mountain Implodes / Economics / Global Financial System
By: Dr_William_R_Swagell
Global Panic Spreads - The largest debt bubble in the history of mankind is on the verge of deflating and collapsing as world leaders and central bankers fly around the globe to one crisis meeting after another. No sooner is one panic quelled or some hasty band-aid fix slapped into place to stop a financial collapse than another breaks out somewhere else. The bad news just keeps on coming; Read full article... Read full article...
Tuesday, October 21, 2008
The United States, Europe and Bretton Woods II to Avoid Economic Depression / Economics / Global Financial System
By: STRATFOR
French President Nicolas Sarkozy and U.S. President George W. Bush met Oct. 18 to discuss the possibility of a global financial summit. The meeting ended with an American offer to host a global summit in December modeled on the 1944 Bretton Woods system that founded the modern economic system. Read full article... Read full article...
Monday, October 20, 2008
The End of Friedmanite Economics / Economics / Global Financial System
By: Mike_Whitney
Monday last week, the stock market recorded its biggest one day gain in history on news that the G-7 had settled on a plan to recapitalize the banking system. The Federal Reserve, the European Central Bank (ECB) and the Bank of England (BOE) all agreed to make direct capital injections into "systemically important" banks so they could resume lending and reduce stress in the credit markets. They also decided to insure deposits and to guarantee interbank lending. Do you think that these unprecedented steps will be enough to avert a meltdown of the financial system?Read full article... Read full article...
Monday, October 20, 2008
The End Game- Greatest Ponzi Scheme in History Part2 / Politics / Global Financial System
By: David_Chu
deleted
Wednesday, October 08, 2008
Unprecedented Global Coordinated Interest Rate Cut / Interest-Rates / Global Financial System
By: Joseph_Brusuelas
The US Federal Reserve along with the Bank of Canada, Bank of England, the European Central Bank, Sweden Riksbank and the Swiss National Bank acted in concert to reduce short term lending rates in pre-market hours this morning.Read full article... Read full article...
Sunday, October 05, 2008
Fear Grips Stock Markets as Economies Tip Into Recession / Stock-Markets / Global Financial System
By: Prieur_du_Plessis
Whew – what a wild week! Global stock markets and commodities tumbled, whereas government bonds and the US dollar surged amid mounting fears that the ongoing turmoil in financial markets was foreshadowing a hard landing for the US and Europe.
The first-ever trillion-dollar loss (as measured by the Dow Jones Willshire 5000 Index) on Wall Street came on Monday in the wake of the US House of Representatives failing to gather enough votes to pass the $700 billion bank rescue package. Globally, more than $1.7 trillion got wiped off the MSCI World Index.
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Sunday, September 28, 2008
Mega-Trend: End of the Era of Falling Interest Rates / Interest-Rates / Global Financial System
By: Boris_Chikvashvili
Dear Reader,
In early CAPI(SOPI)TALISATION process of USSR/RUSSIA, they have searched the earth for a nice motto for a newly minted credit card called RUSSIAN EXPRESS. Their search has finally ended when they DISCOVER(ed) the AMERICAN EXPRESS ad with a motto: Do Not Leave Home Without It.
And Bingo. The choice was uncontested. The motto became...
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Friday, September 05, 2008
Russo-Georgian War Aftermath Impact on Financial Markets / Politics / Global Financial System
By: STRATFOR
A redefinition of Russia has taken place — rather jarringly — following its war with Georgia, and the entire world is reassessing its position and relations with the resurgent power. This reassessment includes financial factors — a much more tender area for today's Russia than for the Soviet Union, because Russia's large economy is tied into the global economy. Read full article... Read full article...
Wednesday, July 23, 2008
The Greatest Transfer of Wealth in History is About to Unfold / Stock-Markets / Global Financial System
By: Ty_Andros
As we look out over the next six months what we see will be extraordinary. The opportunities for prepared investors have never been brighter as the unfolding volatility will be incredible. “Volatility is Opportunity ” for the prepared investor and it will arrive in spades. After a short period of corrective activity I believe explosive moves in almost ALL SECTORS (interest rates, stocks, commodities, natural resources, currencies, and more) lay on the near horizon. Read full article... Read full article...
Wednesday, June 18, 2008
G8 Fail to Address Growing Global Instability / Economics / Global Financial System
By: John_Browne
With market watchers the world over feeling increasingly alarmed by spreading economic problems, much hope and attention was focused on Japan last weekend as finance ministers and central bankers of the G-8 (Group of Eight) nations gathered to apparently map out a coordinated global response. In particular, all hoped that the delegates would conjure a plan to save the dollar from the dustbin and stop the price of oil and food from pushing the world into crisis.Read full article... Read full article...
Tuesday, May 27, 2008
Will We See the End of Empire in Our Time? / Politics / Global Financial System
By: Richard_C_Cook
The following is based on a talk given by the author at the “End of Empire” session of the “Building a New World” Conference of the Prout World Assembly at Radford University, Radford, Virginia, on May 22, 2008.
I believe we have had two Americas. One started with the imperialist state which Alexander Hamilton tried to put into place in the 1790s with the First Bank of the United States. Thomas Jefferson overthrew this early expression of empire in the Civic Revolution of 1800 and created a strong and free America which lasted until 1913 in spite of the convulsion of the Civil War.
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Sunday, May 04, 2008
Extraordinary Times, Intentional Collapse, and Takedown of the USA - Part 2 / Politics / Global Financial System
By: Richard_C_Cook
Part 1“End Times”
Can it be that the last stage of the U.S. takedown is “The Project for the New American Century”? Is this ambitious plan for “global leadership” through military might that was seemingly invented by the “neocons”—many with dual U.S.-Israeli citizenship—a Trojan Horse?
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Sunday, May 04, 2008
Extraordinary Times, Intentional Collapse, and Takedown of the USA - Part 1 / Politics / Global Financial System
By: Richard_C_Cook
Much has been written about whether a worldwide plan exists to control events and steer them in the direction profitable to an elite of the rich and powerful. Is this a “conspiracy theory”? While it is difficult to be specific about who exactly may be behind such a conspiracy, if it exists, it is at least clear that the privately-managed system of global financial capitalism gives ample opportunity for the world’s richest people to combine for their mutual benefit. Further, global financial capitalism itself is based on the monopolization of money-creation by a world banking system that is largely privately owned, even while working through the central banks of the largest and most prosperous nations.Read full article... Read full article...
Monday, March 03, 2008
Epic Paradigm Shift Looms Against the Acceptance of Fiat Money / Stock-Markets / Global Financial System
By: Joseph_Russo
Adaptive Trading and Investment Perspectives Since we first began offering our market forecasting and analysis services to the public some two years ago, Elliott Wave Technology has been strident in directing our clients focus and attention to the negative wealth effects that eroding fiat-currency's impose - along with the plausibility of epic consequence, if and when an inevitable paradigm shift against the acceptance of fiat-money were to ever reach critical mass. No matter where we are in a given investment cycle, we must first recognize the inherent nature of that environment, and then adapt our various investment postures with fitting perspective.Read full article... Read full article...
Friday, February 29, 2008
Currencies Crises- Two Days in September / Currencies / Global Financial System
By: Adrian_Ash
"...The US Dollar's hoped-for decline had now become a rout, driving the greenback down to new all-time lows on its trade-weighted index..."
Saturday, 19th Sept. 1931 - Montagu Norman – governor of the Bank of England – is sailing back to London from a vacation in Canada . He'd felt "under the harrow" since February, and one day in late July had gone home early "feeling queer".
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Friday, February 29, 2008
The Anti-Gold Standard Gospel According to Barron Smith / Commodities / Global Financial System
By: Professor_Emeritus
Barron Young Smith is a financial journalist whose piece What Would Happen If We Adopted the Gold Standard? is appended below. He describes Ron Paul's campaign to restore Constitutional money in the U.S. as being "populist". He adds insult to injury in saying that "Ron Paul... is on a crusade to resurrect a great symbol of Wall Street-Washington dominance over the individual". Read full article... Read full article...
Wednesday, February 06, 2008
The Coming Collapse of International Credit Ratings Agencies - Moody's, Standard & Poor, and Fitch / Stock-Markets / Global Financial System
By: Alex_Wallenwein
So you thought the Ambac/MBIA bond insurers crisis was bad? You ain't seen nothin' yet
The problem, the challenge, the scandal, is not that the bond insurers are about to be downgraded. The real scandal lies in the fact that they haven't been downgraded a long time ago - and much deeper than from "AAA" to "AA". In fact, what needs to be downgraded are the major international credit ratings agencies, Moody's, Standard & Poor, and Fitch.
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Wednesday, January 30, 2008
Iran's Notice to Crude Oil Importers Results in Monetary Contraction of $500 billion of PetroDollar Reserves / Commodities / Global Financial System
By: Rob_Kirby
Much was made of Iran's announcement back in December, 2007 – that they would no longer be accepting U.S. Dollars as payment for their chief export, crude oil:
Iran stops selling oil in dollars - Tehran moves closer to confrontation with U.S.
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Wednesday, January 30, 2008
Stock and Financial Market Forecasts 2008 - Currencies - Part 3 / Currencies / Global Financial System
By: Ty_Andros
Introduction
This is the master thread to which all economic analysis must be held up due to the fiat monetary systems practiced UNIVERSALLY around the world. Just like a game of musical chairs, or rearranging the deck chairs on the titanic everyone will go down sooner or later. The central reality is that Currencies don't float, they just sink at different rates .
Currencies are no longer backed by gold or silver and are no one else's liability; they are all now IOU's and are the liability of the central bank and country that issues them. The principle reserves of the world's central banks consist of other country's promises to pay (currency and bonds). As we all know, public servants rarely deliver on their promises, and their “promises to pay” are made of the same timber.
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Monday, January 28, 2008
Davos, Debt & Systemic Failure - When West Meets East / Stock-Markets / Global Financial System
By: Darryl_R_Schoon
The preferred diet of most Davos attendees is a fusion inspired composition of individual, government, and corporate debt combined with a free-market frisee of lax regulatory oversight held together by a roux of central bank credit that dissolves instantly when paired with matching counter-party risk.
The January 2008 gathering in Davos , Switzerland at the World Economic Forum is similar to the 1957 meeting in Palermo , Sicily of American and Sicilian Cosa Nostra crime families who met to discuss mutual problems and opportunities. The notable difference being that those in the Cosa Nostra live outside the law; while those at the World Economic Forum in Davos make them.
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Wednesday, January 23, 2008
Expert Views on the Stock Market Credit Crisis and Global Economy / Stock-Markets / Global Financial System
By: John_Mauldin
This week we do something a little different in our Outside the Box. Every weekend I get a very information-filled blog called Investment Postcards from Cape Town ( http://www.investmentpostcards .com ) by Dr. Prieur du Plessis. In it he highlights what he thinks is the most important portion of the writings of 10 to 15 analysts from around the world on the state of the economy and investing, and summarizes the news and data. I find it very useful, as Prieur generally finds a lot of interesting pieces that I miss and go on to read in my effort to stay on top of the markets. You can subscribe on your own if you like by activating the subscription option on the blog.
Tuesday, January 15, 2008
Shadow Banking System Crumbling as Losses Double to $500 Billion / Stock-Markets / Global Financial System
By: John_Mauldin
This week look at a short but very important piece by Bill Gross. He has my same concern about credit default swaps, but he puts a number to it. He thinks the cost to the world economic system could be in the $250 billion dollar range. Add that to the $250 billion in losses due to the subprime markets, and you are starting to talk real money. The Shadow Banking System is at the center of the problem. I trust you will find this of interest.
Bill Gross was just named Fixed Income Manager of the Year by Morningstar. He sits on the largest pile of bonds in the world at PIMCO and is their Managing Director.
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Thursday, January 10, 2008
The Coming Economic Depression & Christmas On Threadneedle Street / Economics / Global Financial System
By: Darryl_R_Schoon
The address of the Bank of England is Threadneedle Street , EC2 London. Martha and I could not have been closer. On Christmas day, we were at the Threadneedles Hotel at 5 Threadneedle Street . But proximity to the Bank of England is measured not by distance but by influence. Those closest to the Bank of England are the moneylenders.
England 's reign as a world power actually began on Threadneedle Street . Then, no bank had its own building and bankers were but goldsmiths who lent money and rented space to do business. But after the moneylenders cut their bargain (and it was a bargain) with King William of England , things were never to be the same, either for England or the moneylenders—or the world.
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Monday, January 07, 2008
NO Economic Decoupling Instead Greater Interdependence - 2008: The Year of Reckoning ? / Economics / Global Financial System
By: Brent_Harmes
What lies dead ahead for our economy.- The main stream press is finally waking up to the economic realities that are starting to affect us here and now. The January 7, 2008 Forbes magazine has an article by Ernest Zedillo, (former President of Mexico and current Director of The Yale Center for the study of Globalization) titled, 2008: Year of Reckoning . This article is written by a very studied and intelligent man that has seen first hand the effects of currency and borrowing problems. He sees major problems dead ahead for the global economy and I think he absolutely hits the nail on the head with his analysis. Here are a few quotes from that article along with my comments: Read full article... Read full article...
Thursday, December 20, 2007
Bond Markets Train Wreck Imminent? / Interest-Rates / Global Financial System
By: Paul_Tustain
Next week may hold some unpleasant surprises – you may profit from an early warning.
YESTERDAY WE LEARNED that the British government's guarantee to bail out Northern Rock's creditors is worth a staggering £100 billion. That's £5,000 [$10,000] per British household. This week the European Central Bank made $500 billion available through money market operations. And only last week $110bn of new money was created by central bank loans with artificially low rates and reduced-quality security. This is money creation on an epic scale.
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Wednesday, December 12, 2007
Global Financial Crisis Consequence of the Biggest Housing Bust in US History / Housing-Market / Global Financial System
By: Mike_Whitney
The wreckage in the housing market just keeps piling up. Sales of existing homes in October dipped 23.5% from last year. Prices on new homes dropped 13% year over year. Third quarter foreclosures skyrocketed to 635,000, a 94% increase over last October and an all-time high on the Misery-Meter. The real estate market is in free-fall and the real trouble hasn't even begun yet.
California, Nevada, Arizona and Florida are mired in a full-blown housing depression. Inventory is off-the-chart. Presently, there's a 10.8 month backlog and the numbers are steadily rising. If foreclosures continue at the current pace, by the end of 2008, there'll be a 14 month inventory. That means that every builder in the country could take off his tool-belt right now and stop working FOR MORE THAN A YEAR before the market would clear. Contractors would be filling out job-applications at Red Lobster or looking for an empty street-corner with a tin cup.
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Tuesday, December 11, 2007
Subprimes Hit Dervatives Shadow Banking System / Interest-Rates / Global Financial System
By: John_Mauldin
This week in Outside the Box we will look at Bill Gross of Pimco's latest essay, addressing the ever expanding economic repercussions of the poorly understood CDO/CLO market, the off balance sheet structured investment vehicles (SIVs) and the economic abyss Bernanke and Company are attempting to lead the market out of with neither light nor guide. Bill sits on the top of the largest bond firm in the world, so they have some very unique insights into what is happening. I always pay attention to what Bill says, and you should too.Read full article... Read full article...
Tuesday, December 04, 2007
G7 Creating Rolling Asset Bubbles That Implode - Fingers of Instability, Part 14 / Stock-Markets / Global Financial System
By: Ty_Andros
In This Issue- 3 Fingers of Instability
- Moral Hazard, Herding Cats and Shades of Japan !
- Ghosts of Christmas “Future”
- Shocking News!
Introduction
The “fingers of Instability” series will be wrapped up next week (in the months and years ahead we will bring you short vignettes). It's been a fun and enjoyable mental exercise but it has now unfolded pretty much as outlined since it began. It is prelude to the next chapter in the unfolding demise of the G7 and its financial and monetary systems. But it has a long way to run (several decades in my estimation) and the opportunities are generational in scope. Wealth will shift from one group to another and change the face of the Globe.
Monday, December 03, 2007
Catch-22 for US Fed and Global Economy On Interest Rates / Interest-Rates / Global Financial System
By: Captain_Hook
What can I tell you, but I told you so. Finally, Europeans are waking up to the fact cake eaters on Wall Street intend to devalue their way out of their problems, as forecast here on these pages recently. This is because it's really beginning to hurt, and it now appears the US intends to make the currency trade a one way event in postponing any pain like the stock market.
The only problem with this brand of thinking, if you can call what price managers are doing these days thinking, is a good old-fashioned currency crisis , which should go a long ways in waking up slumbering societies around the world in turn, along with keeping gold in the forefront. This should become even more apparent today with Bernanke speaking, where already yesterday a panicky Fed was pandering the mob by hinting at lower rates.
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Saturday, December 01, 2007
Are We Heading for Hyperinflation or Deflation? - At Philosophical Crossroads / Economics / Global Financial System
By: Brian_Bloom
For some unfathomable reason, the human mind tends to think in terms of extremes. For example: “Death or Glory”, “Success or Failure”, “Accelerating growth or Collapse”.
Thus, the questions being asked in today's financial world seem to be revolving around whether we are facing “hyperinflation or depression”. All of which begs the questions: Why does it have to be at one or the other extreme? Why can't there be something in between? Alternatively, why can't there be a paradigm shift which renders the very question irrelevant?
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Monday, October 29, 2007
The Bank of the South: An Alternative to IMF and World Bank Dominance / Politics / Global Financial System
By: Stephen_Lendman
In July, 2004, the IMF and World Bank commemorated the 60th anniversary of their founding at Bretton Woods, NH to provide a financial framework of assistance for the postwar world after the expected defeat of Germany and Japan. With breathtaking hypocrisy, an October, 2004 Development Committee Communique stated: "As we celebrate the 60th anniversary of the Bretton Woods Institutions....we recommit ourselves to supporting efforts by developing countries to pursue sustainable growth, sound macroeconomic policies, debt sustainability, open trade, job creation, poverty reduction and good governance." Phew.Read full article... Read full article...
Sunday, October 07, 2007
Losing the Peace Incentive - Israel As Warning - Part 8 / Politics / Global Financial System
By: Stephen_Lendman
Conventional wisdom once thought economic growth and prosperity required peace and stability. No longer. Post-9/11, the terror scare was ignited, wars rage in Iraq and Afghanistan, more war is threatened on Iran, oil prices touched $80 a barrel, the WTO Doha Round trade talks collapsed, and "a golden period of broadly shared growth" prevails (at least until the recent credit crunch). How come?Read full article... Read full article...
Friday, October 05, 2007
Capitalism and Freedom Unmasked / Stock-Markets / Global Financial System
By: Stephen_Lendman
An era ended November 16, 2006 when economist Milton Friedman died. A torrent of eulogies followed. The Wall Street Journal mourned his loss with the same tribute he credulously used when Ronald Reagan died saying "few people in human history have contributed more to the achievement of human freedom." Economist and former Treasury Secretary Lawrence Summers called him a hero and "The Great Liberator" in a New York Times op-ed; the UK Financial Times called him "the last of the great economists;" Terence Corcoran, editor of Canada's National Post, mourned the "free markets" loss of "their last lion;" and Business Week magazine noted the "Death of a Giant" and praised his doctrine that "the best thing government can do is supply the economy with the money it needs and stand aside." Read full article... Read full article...
Tuesday, October 02, 2007
Return of Trade Tariff Wars / Economics / Global Financial System
By: Gerard_Jackson
Kevin Rudd is signalling that a Labor Government would introduce another tariff regime. Rudd’s threat basically rests on two arguments, whether he knows it or not: The main one being that tariffs are needed to protect Australian manufacturing before it disappears. Then there is the subsidiary argument that tariffs are needed to protect jobs and real incomes. It is now time to give some basic economic facts another airing:Read full article... Read full article...
Monday, October 01, 2007
The Rise of the Disaster Capitalism Complex - Shock Therapy in the USA - Part 5 / Politics / Global Financial System
By: Stephen_Lendman
Richard Nixon knew before the rest of us that Donald Rumsfeld is "a ruthless little bastard." He also has a knack for making enemies even inside the Pentagon he ran as Defense Secretary. He planned to "reinvent warfare for the twenty-first century (making it) more psychological than physical, more spectacle than struggle, and far more profitable" than ever before.Read full article... Read full article...
Sunday, September 30, 2007
The Shock Doctrine: Lost in Transition: Slamming the Door on History - Part 4 / Politics / Global Financial System
By: Stephen_Lendman
Before the Berlin Wall fell, Lech Walesa became a labor hero in Poland and the West by defying the Moscow-controlled government and getting away with it. Solidarnosc (Solidarity) spread from its Gdansk roots to the country's mines, shipyards and factories and within a year had 10 million members. They won the right to bargain but wanted more. They aspired to take over the state and institute their own alternative economic and political program. It's radical centerpiece was to transform huge state-run companies into worker-run cooperatives so Solidarity members could be empowered in their own "socialized enterprise."Read full article... Read full article...
Wednesday, September 26, 2007
Macro Musings: Northern Rock Exposure / Stock-Markets / Global Financial System
By: Justice_Litle
BY NOW YOU HAVE probably heard about Northern Rock—the UK mortgage bank that got, er, rocked.
"It was a very British bank run," portfolio manager Tim Price reports. "The queues were orderly, but the emotional impact will scar people for generations."
What's remarkable is how long it's been since the last one. Northern Rock was Britain's first bank run since 1866.
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Wednesday, September 26, 2007
The Shock Doctrine: Surviving Democracy - Part 3 / Politics / Global Financial System
By: Stephen_Lendman
Chicago School dogma became known as Thatcherism in Britain, but its prime minister wasn't an early adherent. Margaret Thatcher thought Chilean shock therapy wasn't possible in a democracy like the UK because voters wouldn't buy it. Three years into her first term, her approval rating was lower than George Bush's. She was in danger of not being reelected and didn't dare risk imposing bitter economic medicine that would sink her chances. That is, until destiny intervened on April 2, 1982 when Argentina invaded the British-held Falkland Islands off its coast that was unimportant to either country except for the political hay to gain from war.Read full article... Read full article...