Princes of the Yen

In this outstanding documentary, loosely based on Professor Richard Werner's book with the same title, we can not only better understand the post WWII japanese economic history, but also comprehend how "independent" central banks were introduced in Asia, first in Japan with the legal modifications induced by the 1989-1990 japanese stock market crash and, later, … Continue reading Princes of the Yen

Aberrant Central Banks

In a report to be presented on Wednesday June 17 in London, the Official Monetary and Financial Institutions Forum (OMFIF) will reveal that central banks are increasingly investing in the stock market and that they will most likely continue to do it in the future. "A cluster of central banking investors has become major players on world equity … Continue reading Aberrant Central Banks

Ultra Vires ECB

Ultra vires is a latin phrase meaning literally "beyond powers". If an act requires legal authority and it is done with such authority, it is characterised in law as intra vires. If it is done without such authority, it is ultra vires. Acts that are intra vires may equivalently be termed "valid" and those that are ultra vires "invalid". The verdict of the German … Continue reading Ultra Vires ECB

A United Europe? Think twice

In a revealing article published today by Die Welt, some of the elements of this year’s wish list of the representatives of the global elite, meeting this week in Davos for their yearly fest, are, if indirectly, mentioned. As expressed by Axel Weber, president of UBS, in this year's list there is the desire that … Continue reading A United Europe? Think twice

Mr. Draghi & the “european banking union”

ECB on collision course with Germany on banking union @ Financial Times Financial Times publishes this article about the reluctance of Germany to the intent of the ECB to get total supervisory and resolution control over all banks in the eurozone. The so-called "european banking union" plans seek to place eurozone banks under the overarching supervision … Continue reading Mr. Draghi & the “european banking union”

4 April 2013 TYR reads

Helicopter QE will never be reversed @ The Telegraph Ambrose Evans-Pritchard hints at what the nature of the end-game of this monetary era might be...and it is printing money...forever. With an apparently neutral style and quoting potentially apocalyptic outcomes if permanent money printing by Central Banks is not considered ( "A breakdown of the global trading … Continue reading 4 April 2013 TYR reads

Bitcoin a virtual currency that defies the NWO

Bitcoin the emerging monetary phenomenon created by a pseudonymous Satoshi Nakamoto in 2009 is no longer a joke, but a potential real threat to the neofeudal NWO whose visible components are the western Central Banks, from the Federal Reserve (FED) , to the European Central Bank (ECB), to the Bank of Japan (BoJ), to the … Continue reading Bitcoin a virtual currency that defies the NWO

Make nominal spending the new target? We hope not.

In the January 2 2013 edition of the Financial Times Mr. Scott Summer, economics professor at Bentley University, publishes an article titled Make nominal spending the new target, where he argues for the revolutionary, and increasingly MSM-pushed idea of making Nominal GDP Targeting (NGDPT) the official policy of central banks in most western countries. This policy … Continue reading Make nominal spending the new target? We hope not.

TYR 4 October 2012 reads

Spanish Prisoners @ NYT The catalan secessionist movement has sound economic, cultural and historical roots. It should be respected. In all aspects but name, Catalonia is a colony of Spain. Chart Of The Day: The Rise Of Global Central Planning @ Zerohedge It starts like this..."there was a time when the world had (somewhat) free markets.". The … Continue reading TYR 4 October 2012 reads

“How so? Breaking the law has now become a sort of routine”

In an interview with Die Presse, the former chief economist of the European Central Bank (ECB) discusses the latest decisions taken by this institution and asserts that from 2010 on, the ECB has given in to pressure from the outside ("Sie hat dem Druck von außen nachgegeben"). Asked about whether this pressure originated in the USA, … Continue reading “How so? Breaking the law has now become a sort of routine”