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
Category: Finance
Is the SNB on New York’s leash?
“Is the SNB on New York’s leash?” this is the question once rethorically asked by well known Swiss banker, financial adviser and author of ‘Gold Wars’ Ferdinand Lips, who believed that Switzerland had been put under enormous foreign pressure and duress to sell half of its gold reserves, saying that “In my opinion, the once … Continue reading Is the SNB on New York’s leash?
Sovereign Default History
Today Argentina defaulted on its external debt for the 8th. time since 1800 AD. The Economist publishes this chart ranking countries on the criteria of how many times they have defaulted on their external debt in the last 214 years. Curiously both Germany and Portugal have defaulted 4 times. Nothing seems to last (or … Continue reading Sovereign Default History
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
Dark Belgian Chocolate
In his article, Who Is The New Secret Buyer Of U.S. Debt?, Brandon Smith tries to solve one of the mysteries of recent events in financial markets: the enormous increase in US Treasury Bonds reserves held by Belgium. As you can appreciate in the chart above, Belgium has, in a few months, increased its reserves of … Continue reading Dark Belgian Chocolate
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
The Spirit of Davos
Jon Stewart, of The Daily Show fame, glimpses and parses, assisted by an "All Access Badge" , the Spirit of Davos. Enjoy and do not miss the end of the clip, where Samantha Bee reports right from the "Panel of Emerging Economies" where "the leaders at the World Economic Forum are laser focused on making … Continue reading The Spirit of Davos
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
Reverse Robin Hood explained
In this article published by Zerohedge we can find a cogent explanation of the present process of wealth redistribution from poor to rich, a phenomenon felt everywhere. Whether this process is an intended one, a sort of conspiracy, or just "collateral damage" of unsound monetary and economic policies, is for the reader to decide. This … Continue reading Reverse Robin Hood explained
TYReads “One hundred years is long enough. End the Fed”
On the 100th anniversary of the creation of the Federal Reserve (FED), designed in secrecy by a group of Wall Street bankers and voted into existence by the American Congress on december 23 1913, Ron Paul publishes this article arguing that its creators have succeeded beyond their wildest dreams, and that the FED has taken … Continue reading TYReads “One hundred years is long enough. End the Fed”
The Yogi Rock 