Monthly Archives: March 2013

Fears of Return of Euro Crisis Plague Central Bankers and IMF

"Last year, the ECB supported ailing Greece for months, because the EU couldn't agree on a bailout package for so long. It recently looked the other way when the Irish central bank came to the aid of a bank, and the prohibition on directly funding public budgets was cunningly circumvented. If the ECB were now forced to help an Italian government that is unwilling to institute reforms, its credibility would be destroyed once and for all. Many central bankers are no longer willing to cooperate with the lawmakers behind Europe's rescue programs." Continue reading →

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Why Is JPMorgan’s Gold Vault, The Largest In The World, Located Next To The New York Fed’s?

"The world's largest private, and commercial, gold vault, that belonging once upon a time to Chase Manhattan, and now to JPMorgan Chase, is located, right across the street, and at the same level underground, resting just on top of the Manhattan bedrock, as the vault belonging to the New York Federal Reserve, which according to folklore is the official location of the biggest collection of sovereign, public gold in the world. We will let readers make up their own mind why the the thousands of tons of sovereign gold in the possession of the New York Fed, have to be literally inches across, if not directly connected, to the largest private gold vault in the world." Continue reading →

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Bank of Japan governor nominee Kuroda sets out aggressive policy ideas

"The Japan government's nominee to be the next central bank governor outlined more forceful policy prescriptions on Monday to finally defeat deflation, saying he would not set any limits on the amount of cash the Bank of Japan pumps into the economy. Haruhiko Kuroda told lawmakers the BOJ's current policies were not powerful enough to boost inflation to 2 percent, a target he said the central bank should strive to achieve in two years. Kuroda suggested the most natural central bank stimulus for the economy would be through huge purchases of longer-dated government bonds. The BOJ should also consider kicking off its open-ended asset purchases early." Continue reading →

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New York Fed Agreed To Testify For Bank Of America In Exchange For $43 Million

"The previously confidential agreement spells out the terms of a deal in which the New York Fed received $43 million from Bank of America’s Countrywide unit. The money changed hands to settle a narrow dispute involving cash flows on several mortgage securities held by an investment vehicle, known as Maiden Lane II. That vehicle was created by the New York Fed as part of the rescue of A.I.G., which had held the Countrywide securities. But in exchange for that $43 million, the New York Fed did something else for Bank of America. It agreed to testify on behalf of the bank in its legal battle against A.I.G. over fraud claims." Continue reading →

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Boycott Bitcoin!

"Well, Fellow Reckoner, it’s been something of a sad week for proponents of Bitcoin… Would-be buyers of the fringy cyber experiment have had to watch as the price of their beloved currency shot to within (as of this writing) a few cents shy of $35 per coin. No buyer wants to see that kind of action…unless they are also an 'already boughter.'" Continue reading →

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Bitcoin Ready To Go Mainstream With First U.S. Exchange

"Recently armed with $500,000 in seed funding and a partnership with Silicon Valley Bank, Coinlab, a startup based out of Seattle, is bringing its innovative Bitcoin project closer to the U.S. market. The deal brings over the North America-based book of Mt. Gox, one of the largest and most widely used bitcoin to currency exchanges. According to Coinlab CEO, Peter Vessenes, the book is worth nearly $500 million in annualized trade volumes, which he expects to grow nearly ten times over the next year. Silicon Valley Bank, a company that provides financial services to emerging growth companies, will be holding deposits of bitcoin and dollars for Coinlab." Continue reading →

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Economic Fascism and the Power Elite

"The state—the organization of the political means—is the institution that allows an idle, unproductive class of parasites to live at the expense of ordinary, working people, whose means are industrious activity and consensual exchange in the marketplace. We ought not assume, however, that the indigent segment of society, those who receive social welfare aid from the state, are necessarily foremost among the parasites of the political means. Rather, free-market libertarians have demonstrated that in the statist economy of theft and wealth redistribution, it is the elite—powerful, entrenched commercial players—who most benefit." Continue reading →

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Google Says the FBI Is Secretly Spying on Some of Its Customers

"It is unlawful for any record-keeper to disclose it has received a so-called National Security Letter. But under a deal brokered with the President Barack Obama administration, Google on Tuesday published a 'range' of times it received National Security Letters demanding it divulge account information to the authorities without warrants. It was the first time a company has ever released data chronicling the volume of National Security Letter requests. National Security Letters allow the government to get detailed information on Americans’ finances and communications without oversight from a judge. The FBI has issued hundreds of thousands of NSLs." Continue reading →

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Senator Nordquist Admits His Associations Appear Improper — Sorta

Last week I decided to have a conversation with the Counsel for the Accountability and Disclosure Commission about concerns I first disclosed in an editorial published in the Lincoln Journal-Star and reprinted here that I titled “Senator Jeremy Nordquist Listens to His Master’s Voice . . . But Who’s His [...]

This article Senator Nordquist Admits His Associations Appear Improper — Sorta appeared first on Grassroots in Nebraska.

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Riot Alert: Look Out Argentina, South Africa, Turkey and India

"If history teaches us anything, it is that inflation usually ends in violence. The Johannesburg-based economic research house ETM Analytics (www.etmstrategy.com), which has a strong Austrian bias, puts out a monthly 'riot alert' based on the speed with which countries are debasing their currencies. It has been scarily accurate in predicting where trouble is most likely to erupt. For all the press acreage given to the political causes of violence in countries like Syria and Egypt, it is difficult to side-step the obvious common denominator: inflation. A 10% rise in food prices can transform a hungry man into an angry man." Continue reading →

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