Network Archives

Banks Warn Fed They May Have To Start Charging Depositors

"A less discussed issue was the Fed's comment that it would consider lowering the Interest on Excess Reserves to zero as a means to offset the implied tightening that would result from the reduction in the monthly flow once QE entered its terminal phase (for however briefly before the plunge in the S&P led to the Untaper). After all, the Fed's policy book goes, if IOER is raised to tighten conditions, easing it to zero, or negative, should offset 'tightening financial conditions', right? Wrong. As the FT reports leading US banks have warned the Fed that should it lower IOER, they would be forced to start charging depositors." Continue reading →

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Bitcoin: Experts clash over the crypto-currency

"Bitcoin is reaching new heights thanks to a combination of speculation on future value and genuine, undeniable usefulness. Think about it: Why can it take days or weeks for banks to send money around the world, when an email travels in seconds? Does the money travel by steamboat? Are they loading gold bars onto the side of a camel and sending it over the mountains of Mongolia? Of course not. The real answer is depressing - banking is a stagnant market running on long-obsolete infrastructure, which improves only when forced to by government. [..] When Metro Bank opened in 2010, it received the first new UK banking licence issued in 150 years." Continue reading →

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Angola says no to Obama’s Islam BS, destroys Mosques.

Angola bans Islam and shuts down all mosques across the country because it ‘clashes with state religion of Christianity’ Minister of culture described Islam as a ‘sect’ which is banned as counter to Angolan customs and culture Nation’s president said: ‘This is the final end of Islamic influence in our country’ By William Turvill PUBLISHED: […]

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American Military, What is wrong with this posting??? The Dumbing down of the Military. UCMJ anyone?

I received this today, and it set me on fire, I like to hear from you vets on this. Bruce BEEN HEARING ABOUT THIS FOR SOME TIME WHO KNOWS > When I asked a friend of mine a very high ranking military retired person why he thinks Obama is doing this, the reply I received […]

Continue ReadingAmerican Military, What is wrong with this posting??? The Dumbing down of the Military. UCMJ anyone?

Americans fail to understand why we have no control over government. Here’s just another example.

It is unprecedented that the Department of Justice, in league with the Council on American Islamic Relations (CAIR), an unindicted co-conspirator in the largest terrorism funding trial in history (Hamas – Holy Land Foundation trial – Texas) has cancelled a local school board meeting. Think about it: federal involvement in local affairs! The ostensible reason: […]

Continue ReadingAmericans fail to understand why we have no control over government. Here’s just another example.

Monetary Madness, Part II

"Like today, the Fed helped create a bond market bubble in the 1970s … but then began a panicky retreat in 1979 that helped drive T-bond yields to 13%, T-bill rates to 17% and the prime rate to 21%. Like today, the Fed kept the lid on short-term interest rates in the early 1990s … but then was forced to unleash them in 1994, causing the largest calendar-year decline in bond prices in modern history. And like today, in the first half of the 2000s, the Fed papered over every financial disaster it ran into — only to beat a sudden retreat by letting Lehman Brothers fail. They will do the same thing again — not because of any particular plan, but because they will have no other choice." Continue reading →

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Most Bizarre Hedging Statement Ever?

"This last blow-off is going to be a merciless one that will precede perhaps a movement toward a more global currency or a diminishment of the dollar reserve standard itself. Many may be tempted to sit out this latest – promulgated – rally based on the obvious and evident macro-manipulations. And I will continue to point out the various machinations that are setting up the Party. They are a long ways away from snatching the punch bowl on this one and fortunes will be made because one thing this sort of vast manipulation portends is volatility and plenty of it. Is the market a kind of Titanic heading toward an iceberg? Of course it is. But it's going to be a helluva ride." Continue reading →

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How a wire transfer stuck in OFAC almost cost me $140K

"My wire transfer for $600,000 got stuck for more than a week in two banks and I almost lost my $140,000 deposit on a house as a result. If the funds transfer had been done with bitcoin, I would have had the funds there within an hour of sending them, and nobody could have stopped it. The escrow part could also have been done with bitcoin. One this becomes the norm, bitcoin is going to revolutionize the process of closing a house purchase, making it safer, cheaper, and faster for everyone. Here is the OFAC SDN list. If your first and last names match any of the names in this list, don't do any large wire transfers!" Continue reading →

Continue ReadingHow a wire transfer stuck in OFAC almost cost me $140K