From a BBC film to be shown tonight called “Britain’s Banks: Too Big To Save?” 9pm on BBC2. “… the deputy governor of the Bank of England, Paul Tucker, said the serious flaw in the current banking system was that the bankers had got rich in the boom years while the cost of their failures …
I’ve been tol that the interview on the Max Keiser Show will go out on Thursday. In case you don’t know, Max Keiser goes out on RT (Russia Today) which is on Freeview. The show is then put up on YouTube fairly quickly thereafter.
Is China going to become more like the West or are we going to become more like China? It has been our arrogant assumption that China will, of course, become more like us. Western politicians and pundits seem to be constantly telling China how it needs to open its markets in order to be more …
Hello, Mark Tanner here. We are in the process of planning an ebook version of The Debt Generation. We would like to do this properly and make use of the different possibilities that the ebook offers. We will be doing an Epub version and a Kindle version. For those of you who read ebooks are …
A friend of mine had an interesting conversation with a Swiss banker last week in The Cafe Metropol in Zurich. The cafe happens to be just across the road from the Swiss National bank and is a favourite watering hole. The Swiss banker suggested that the big Swiss banks and the Swiss National bank are beginning …
Remember what I was saying in Dominoes falling from the East about the debt train coming from Eastern Europe and the Balkans? Well I thought these two reports form Bloomberg this week were interesting hints that I might not be all that far from the mark. In Italy Italian borrowing costs increased to 3.67 percent …
I won’t be able to write anything today. I’m down in London for an interview on the Max Keiser Report. I don’t know when it will be broadcast but I’ll let you know for anyone interested to see how it went.
Well the Commission’s ‘tough talking’ to the Bond holders didn’t last long did it? Yesterday they were trying to sound like Clint Eastwood, “Do you feel lucky punk? Well do ya?” Today all that was corrected by Olli Rehn, Commissioner for Economic and Monetary Affairs, or I prefer to call him, Commissioner for Treason and …
Reuters headline is that the yield on Portugal’s ten year debt dropped due to high demand at this auction. Which as the article goes on to suggest, averts bond disaster and lowers the pressure on Portugal. I see this as the now customary Pravda style “all news must be good news”. What the facts tell …
Portugal’s bond auction – behind the ‘Pravda’ headlines Read More »
Revealing news this today – According to Frankfurter Allgemeine Credit Default Swaps for many of Europe’s biggest banks shot up yesterday. And what is most interesting is which banks fared worst: the big two in Spain, BBVA and Santander and in Germany, Commerzbank. Why should CDS costs shoot up yesterday? Well yesterday was, as I noted in …
Bond holders hint at the real state of Europe’s banks Read More »
