Here’s a question for you. How do toxic assets keep making money? Another way of asking the same thing is why do banks want to keep some toxic assets on their books rather than get rid of them? Now first-off, some assets are so toxic the banks have written them off (though sadly very few) …
So now we wait of the dust to settle as the IMF inquisitors prepare their salvation and the EU prepares to learn how its done. One thing to bear in mind. The banks that would loose many tens of billions if Greece defaulted on its debts are French (€75B), German (€45B) and Swiss banks. Germany …
France and Germany are forced to help. But help who? Read More »
Researchers in Japan have recently revealed something unpleasant. Something the previous Japanese government had kept purposefully hidden. Something our western governments might also wish had stayed secret. What the previous government knew but never published, is that Japan’s POVERTY rate has DOUBLED since the nation’s real estate and stock markets collapsed in the early 1990s. …
I GOT THIS ONE (Could Greece have stepped on a trip wire today. Titlos again.) WRONG! The down grade on that day was, I now realise, to National Bank of Greece’s debt, the country’s biggest private bank and most of its other big banks as well. I’m afraid I read National Bank of Greece and …
A correction to an earlier post I got wrong. Very Sorry!! Read More »
I am still trying to check this one. The news comes from a Polish web site. So far it seems authentic. The story is that the man who got the crash site first and filmed it was stabbed 3 times by assailants unknown. He was rushed to hospital where he was put on life support. …
Man who filmed Polish government plane crash murdered Read More »
Well the news this morning out of Greece is that its debt has been revised UP AGAIN. Up from 12.7% to 13.6% and the advice from Eurostat that this will probably be revised UP yet again because and this I love – the Goldman Sach’s currency swaps deal and any other not yet discovered are …
The sovereign-default domino-effect – what does it mean? Read More »
So the IMF proposes a FAT tax on banks. It offers this as its idea of how to regulate banks and avoid another banking crisis. I would be more willing to accept this proposal at face value if it was likely to work but it won’t. And because it won’t I think this proposal isn’t …
Today, 20th April Athens had to sell €1.5 billion in debt. Experts said it was another test of Greece’s ability to continue borrowing. So the fact that they sold €1.9B has been reported as a triumph. But it wasn’t. Here’s why. This debt does not give Greece more money. This debt sale only replaces previous …
Greece now pays DOUBLE to fund its short term debts. Read More »
For the last year maybe longer I have been suggesting that the reason the central banks have been able to keep selling such vast debts without apparent buyers is because they are selling it to each other. 18th February I wrote in “Chinas sells US debt. WHO BUYS?” about how we here in the UK …
UK buys $231 Billion of US debt in last five months Read More »
Yesterday the SEC announced it had compiled a detailed complaint against Goldman Sachs. Shares across the world tumbled. Today the SEC today voted on whether or not to proceed with the case. The chairman and two democratic commissioners voted for prosecuting Goldman Sachs. The two Republican commissioners, however, voted AGAINST. Did the Republican commissioners feel …
