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Keyword: centralbanks

Brevity: Headers | « Text »
  • Any doubts over about December Fed hike may be swept away

    11/14/2015 7:59:42 AM PST · by BenLurkin · 23 replies
    in.reuters.com ^ | Jonathan Cable
    While most U.S. data has been relatively upbeat, retail sales rose less than expected in October, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth. In the meantime, Britain's Bank of England was once pegged as likely to be the first major central bank to tighten policy but prices fell again last month, data will probably show on Tuesday. With inflation so far below its 2 percent target the BoE's Monetary Policy Committee won't be raising its benchmark rate from a record low 0.5 percent until at least April, a Reuters...
  • Doubters question 'strange' stock market rebound

    11/06/2015 11:05:02 AM PST · by SkyPilot · 18 replies
    Reuters and Yahoo News ^ | 6 Nov 15 | Alistair Smout and Danilo Masoni
    The double-digit stock-market rebound after a bruising summer has put European shares back into positive territory for the year, but sentiment around the central-bank-fueled rally remains fragile. Weak trading volumes, a so-far disappointing earnings season and a focus on reliable dividend payouts rather than blockbuster growth have all contributed to the view that investors are being sucked into a market updraft rather than enthusiastically betting on a cyclical upturn. Even with European shares getting a fresh lift from a weaker euro on Friday - after U.S. data smashed expectations and fueled bets on tighter U.S. rate policy in contrast with...
  • Central bank cavalry can no longer save the world

    10/12/2015 12:14:19 PM PDT · by Lorianne · 8 replies
    Reuters ^ | 10 October 2015 | David Chance
    In 2008 central banks, led by the Federal Reserve, rode to the rescue of the global financial system. Seven years on and trillions of dollars later they no longer have the answers and may even represent a major risk for the global economy. A report by the Group of Thirty, an international body led by former European Central Bank chief Jean-Claude Trichet, warned on Saturday that zero rates and money printing were not sufficient to revive economic growth and risked becoming semi-permanent measures. "Central banks have described their actions as 'buying time' for governments to finally resolve the crisis... But...
  • US interest rate rise could trigger global debt crisis

    09/14/2015 7:50:38 AM PDT · by SkyPilot · 10 replies
    The Telegraph ^ | 13 Sep 15 | Telegraph Staff
    Global debt levels are dangerously high and central banks cannot keep the game going indefinitely, warns the high priest of orthodoxy Debt ratios have reached extreme levels across all major regions of the global economy, leaving the financial system acutely vulnerable to monetary tightening by the US Federal Reserve, the world's top financial watchdog has warned. The Bank for International Settlements said the wild market ructions of recent weeks and capital outflows from China are warning signs that the massive build-up in credit is coming back to haunt, compounded by worries that policymakers may be struggling to control events. "We...
  • Central banks can do nothing more to insulate us from an Asian winter

    09/06/2015 9:22:22 AM PDT · by Lorianne · 4 replies
    Guardian UK ^ | 06 September 2015
    The European Central Bank proudly announced on Friday that it is erecting a 17-metre-high bronze and granite tree outside its Frankfurt headquarters – an artwork intended to “convey a sense of stability and growth” – and, with its gilded leaves and massive trunk, presumably also wealth and power. But when Mario Draghi, the ECB’s president, appeared before the world’s media on Thursday at his regular press conference, it was the limit to central bankers’ power that was on display. Draghi was forced to admit that the outlook for eurozone growth and inflation had darkened considerably as a result of the...
  • Second Largest US Pension Fund To Sell 12% Of Stocks Holdings In Advance Of "Another Downturn"

    09/05/2015 8:03:02 PM PDT · by SkyPilot · 9 replies
    Zero Hedge ^ | Submitted by Tyler Durden on 09/02/2015 17:49 -0400 | Tyler Durden
    While many continue to debate if what with every passing day increasingly looks like a global recession, one from which the US will not decouple no matter how many "virtual portfolio" asset managers claim the contrary, there are those who without much fanfare are already taking proactive steps to avoid the kind of fallout that the markets have hinted in the past month of trading, is inevitable. Some such as Calstrs: the nation's second largest pension fund with $191 billion in assets (smaller only than Calpers), which as the WSJ reports is "considering a significant shift away from some stocks...
  • Central banks can’t save the markets from a crash. They shouldn’t even try

    08/30/2015 10:06:32 AM PDT · by Lorianne · 10 replies
    Guardian UK ^ | 30 August 2015
    Like children clinging to their parents, stock market traders turned to their central banks last week as they sought protection from the frightening economic figures coming out of China. Surely, they asked, the central banks would ward off the approaching bogeymen, as they had so many times since the 2008 crash. The US Federal Reserve came up with the goods. William Dudley, president of the bank’s New York branch, hinted that the interest rate rise many had expected next month was likely to be delayed. A signal that borrowing costs would remain at rock bottom was all it took. After...
  • The Central Bankers’ Malodorous War On Savers

    08/28/2015 8:23:19 AM PDT · by PGR88 · 10 replies
    David Stockman's Contra Corner ^ | August 28, 2015 | David Stockman
    To wit, artificial suppression of free market interest rates by the central bank is designed to cause households to borrow more money than they otherwise would in order to spend more than they earn, pure and simple. Its nothing more than a modernized version of the original, crude Keynesian pump-priming theory—–except it dispenses with the inconvenience of getting politicians to approve spending increases and tax cuts in favor of the writ of a small posse of unelected monetary mandarins who run the FOMC and peg money market interest rates at will. But the whole enterprise is a crock. The consumer...
  • Global Finance Grades The World’s Best and Worst Central Bankers 2015

    08/25/2015 7:48:21 PM PDT · by SeekAndFind · 2 replies
    Global Finance ^ | 08/24/2015
    NEW YORK, August 24, 2015 — Global Finance magazine has named the heads of the Central Banks of the Czech Republic, the European Union, India, Israel, Malaysia, Paraguay, Peru, the Philippines, and Taiwan as the World’s Best Central Bankers over the past year, in recognition of their achievement of a prestigious “A” grade on Global Finance’s Central Banker Report Cards. August 24, 2015 In addition, the Central Bankers of Colombia, Saudi Arabia and the United States earned “A-” grades. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 75 key...
  • As Central Banks Lose Control, Doomsday Clock For Global Market Crash Strikes One Minute To Midnight

    08/17/2015 4:33:35 AM PDT · by SkyPilot · 15 replies
    Now The End Begins ^ | 16 Aug 15 | Geoffrey Grider
    China currency devaluation signals endgame leaving equity markets free to collapse under the weight of impossible expectations“Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.” Luke 21:26 (KJV) When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, the central banks have lost...
  • The Fate of the Fed's Exit Strategy Is In Foreign Hands

    05/22/2015 5:46:26 AM PDT · by expat_panama · 14 replies
    Real Clear Markets ^ | May 22, 2015 | Jeffrey Snider
    In all this talk about whether the economy will be strong enough to support the first policy change of this cycle, and how utterly sad it is to even have to argue about it, the larger issues about the exact operational framework remain largely unexamined. The intent of the FOMC is to undergo an orderly transition from extraordinary policy positions toward a setting more like normal. To go from A to B is not as simple as plugging in a new number, a fact that Federal Reserve officials are very quietly dealing with. The Fed has a repo problem, one...
  • Swedish central bank cuts key rate further below zero

    03/18/2015 10:15:40 AM PDT · by C19fan · 18 replies
    AFP ^ | March 18, 2015 | Tom Sullivan
    Sweden's central bank took its key interest rate further into negative territory Wednesday in a surprise move aimed at supporting a return to inflation. Related Stories Sweden cuts key rate again to record minus 0.25 pct Associated Press India's central bank cuts key interest rate Associated Press German central bank: ECB stimulus means less reform pressure Associated Press European Central Bank leaves rates unchanged; await QE details MarketWatch The currency wars have begun MarketWatch The Riksbank cut its repo rate by 0.15 percentage points to -0.25 percent and said it was buying government bonds worth 30 billion kronor ($3.4 billion,...
  • Bank of Israel cuts rate to historic low

    02/23/2015 9:29:28 AM PST · by Olog-hai · 2 replies
    Yedioth Ahronoth News ^ | 02.23.15, 18:10 | Amnon Atad
    The Bank of Israel lowered its benchmark interest rate on Monday to an all-time low of 0.1 percent on Monday. The move came as a surprise, after 11 of 12 economists polled by Reuters had expected the central bank to stand pat. The central bank cut the rate to signal its determination to push back against the negative inflation holding down the market towards its intended annual target of one to three percent. Lowering the interest rate theoretically leads to an increase in demand within the market and helps increase prices towards the inflation target which the Bank of Israel...
  • Europe could have a new problem on its hands: Pro

    09/05/2014 5:49:01 PM PDT · by Lorianne · 6 replies
    CNBC ^ | 04 September 2014 | Europe could have a new problem on its hands: Pro
    On Thursday morning, the European Central Bank surprised markets with a raft of stimulative measures including cuts in interest rates and the commencement of asset purchases. The news sent the euro currency much lower, but currency expert Boris Schlossberg of BK Asset Management identifies another reason why the euro could call even further: fresh concerns over a European Union breakup. ECB president Mario Draghi, in announcing the measures, mentioned that the vote was not unanimous. The strongest economy in the eurozone, Germany, is widely expected to have dissented. "It's a very, very tenuous union in many ways, and we see...
  • The Madness Of Crowds And The Great Insanity (the coming economic collapse)

    06/08/2014 6:42:22 PM PDT · by Perseverando · 139 replies
    Zerohedge ^ | June 8, 2014 | Ty Andros
    Never in my 30+ year career as a market observer have I seen so many out on a limb which is about to be SAWED OFF. Those who live within the matrix are fully loaded for a recovery which is not and will not appear. Nominally the Main stream media can proclaim ECONOMIC recovery has arrived, point to the rising developed world stock markets, seemingly benign bond markets of all categories: sovereign, investment grade and Junk, Private equity, corporate buy backs and more have priced in “Happy Days are here again”. HFT, unrestrained leverage in a financially repressed world and...
  • St. Louis Fed Research Director: Bitcoin Could Be A Good Threat To Central Banks

    04/07/2014 7:28:18 AM PDT · by Errant · 8 replies
    Business Inisider ^ | 6 April 2014 | Rob Wile
    Last week, St. Louis Fed Director of Research David Andolfatto released a presentation on Bitcoin, becoming one of the most prominent central bank officials to study the cryptocurrency. We caught up with Andolfatto to ask him about why he put this deck together, where he thinks Bitcoin is going, and whether he personally has anything invested in it. Business Insider: What was the genesis for this presentation? David Andolfatto: Its genesis was a blog post I'd started, addressing arguments that gold bugs frequently put forth, that gold is superior money. Of course, Bitcoin was in the news — I read...
  • What Kind of Fools Are Buying Gold?

    06/23/2013 1:05:52 PM PDT · by blam · 35 replies
    The Market Oracle ^ | 6-23-2013 | Jesse's Café Américain
    What Kind of Fools Are Buying Gold? Commodities / Gold and Silver 2013 June 23, 2013 - 08:55 PM GMT By: Jesse On the whole, the world's central banks are now net buyers of gold, and have been for some time, after being net sellers for over twenty years. Russia is one example. Why do you think they are buying it? They don't understand money? They don't know what they, and some of their associated central banks, are planning to do to recapitalize the deteriorating global financial system and dollar reserve trade regime? Did they forget to watch CNBC to...
  • Japan Stock Market Crash Leads To Global Sell Off

    05/23/2013 4:24:43 AM PDT · by SatinDoll · 18 replies
    Zero Hedge ^ | May 23, 2013 | Tyler Durden
    Yesterday afternoon, following the rout in the US stock market, we made a spurious preview (TWITTER) of the true main event: SO SELL OFF IN JGBS TONIGHT? We had no idea how right we would be because the second Japan opened, its bond futures market was halted on a circuit breaker as the 10 Year bond plunged to their lowest level since early 2012, hitting 1% and leading to massive Mark to Market losses for Japanese banks, as we also warned would happen. That was just the beginning, and suddenly the realization crept in that the plunging yen at this...
  • Central Banks Buy Most Gold in 50 Years

    02/16/2013 4:52:14 AM PST · by Diana in Wisconsin · 18 replies
    ETF Report ^ | February 16, 2013 | Sumit Roy
    It was a year of many records for the gold market. No, gold prices didn’t reach an absolute record high in 2012 as some had forecasted, but it was still a year of many records for the gold market, according to the World Gold Council’s latest Demand Trends report. In fact, gold prices averaged $1722 during the last three months of the year, the WGC said. That’s a record quarterly price. Unfortunately for bulls, gold demand on a volume basis didn’t reach a record. Indeed, it fell by 4 percent to 4,406 metric tons. However, on a value basis, annual...
  • Do Western Central Banks Have Any Gold Left???

    11/26/2012 2:13:19 PM PST · by Renfield · 15 replies
    Sprott.com ^ | Eric Sprott & David Baker
    Somewhere deep in the bowels of the world’s Western central banks lie vaults holding gargantuan piles of physical gold bars… or at least that’s what they all claim. The gold bars are part of their respective foreign currency reserves, which include all the usual fiat currencies like the dollar, the pound, the yen and the euro. Collectively, the governments/central banks of the United States, United Kingdom, Japan, Switzerland, Eurozone and the International Monetary Fund (IMF) are believed to hold an impressive 23,349 tonnes of gold in their respective reserves, representing more than $1.3 trillion at today’s gold price. Beyond the...
  • 10 Countries Sitting On Gigantic Piles Of Gold

    10/08/2012 6:47:47 AM PDT · by blam · 21 replies
    TBI ^ | 10-8-2012 | Mamta Badkar
    10 Countries Sitting On Gigantic Piles Of Gold Mamta BadkarOct. 8, 2012, 6:44 AMAP Images Gold prices have been supported by central bank gold purchases. According to the World Gold Council (WGC), global central banks bought 157.5 tonnes of gold in the second quarter, up 63 percent quarter-over-quarter and up 137.9 percent year-over-year. In fact, there is a school of thought that suggests euro zone members use gold as collateral for sovereign debt issuance to keep bond yields. We put together a list of the countries with the biggest official gold holdings as reported by the WGC last week. We...
  • China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar

    09/12/2012 9:19:48 PM PDT · by Tolerance Sucks Rocks · 33 replies
    The Economic Collapse ^ | September 11, 2012 | The Economic Collapse
    The mainstream media in the United States is almost totally ignoring one of the most important trends in global economics. This trend is going to cause the value of the U.S. dollar to fall dramatically and it is going to cause the cost of living in the United States to go way up. Right now, the U.S. dollar is the primary reserve currency of the world. Even though that status has been chipped away at in recent years, U.S. dollars still make up more than 60 percent of all foreign currency reserves in the world. Most international trade (including the...
  • South Korea buys gold; central bank purchases set to rise

    08/05/2012 5:00:03 PM PDT · by DeaconBenjamin · 2 replies
    Reuters ^ | Thu Aug 2, 2012 5:55am EDT | By Christine Kim and Rujun Shen
    South Korea boosted its gold holdings by nearly a third in July, buying 16 tonnes to diversify its massive foreign exchange reserves. South Korea's central bank said it now holds 70.4 tonnes of gold, after paying $810 million last month for the purchase. The increase supported expectations that central banks will remain gold's key buyer as increased volatility in global markets and waning confidence in the U.S. dollar fuel a global drive to divest from the U.S. currency and government debt securities. The Bank of Korea paid about $1,582 per ounce on average, slightly lower than the average spot gold...

    08/02/2012 1:43:05 PM PDT · by blam · 14 replies
    TBI ^ | 8-2-2012 | Joe Weisenthal
    WORLD CENTRAL BANKS ON 'RED ALERT' Joe Weisenthal Aug. 2, 2012, 4:15 PM Jon Hilsenrath, the world's best central bank reporter, says that the conclusion from this week is that the world's big central banks (the Fed and the ECB, natch) are on 'red alert' over the state of the US economy. From WSJ: Ben Bernanke and Mario Draghi, with words but not yet actions, demonstrated this week that they are on red alert about the global economy. Expectations are now high that Mr. Bernanke's Federal Reserve and Mr. Draghi's European Central Bank will act soon to address those worries....
  • Spanish Activists Seek Arrest of Banksters

    06/22/2012 11:03:19 AM PDT · by freedommom · 4 replies
    wideshut ^ | 06/20/12 | Keelan Balderson
    As Spanish protesters continue to rally outside the headquarters of financial institution Bankia in Madrid, a proactive group within the movement have taken their point further and filed an official criminal complaint against the former management of the bank [1]. Like many other nations around the world the Spanish people face crippling austerity due to the bailing out of the corrupt global financial system, which collectively crashed the world’s economy due to reckless lending and fraudulent investments. Bankia, which was bailed out and partially nationalised like Britain’s RBS, was a causative factor in Spain’s spiraling debt crisis, and in order...
  • STOCKS STAGE GINORMOUS RALLY: Here's What You Need To Know (+287 - QE-3?)

    06/06/2012 1:16:54 PM PDT · by blam · 17 replies
    TBI ^ | 6-6-2012 | Simone Foxman
    STOCKS STAGE GINORMOUS RALLY: Here's What You Need To Know Simone Foxman June 6, 2012Markets across the world staged a major rally today, and central banks are at the center of the chatter. But first, your scoreboard: Dow: 12,398; +271 pts S&P 500: 1,312; +27 pts NASDAQ: 2,841; +63 pts Now for the day's top stories: * Markets began rallying in the pre-market after WSJ's star Federal Reserve reporter John Hilsenrath wrote last night that euro woes, disappointing economic data, and strains in financial markets "have prompted a shift at the Federal Reserve, putting back on the table the possibility...
  • Audio: In A Broken System, You Must Be Your Own Central Bank, Sinclair Tells King World News

    12/09/2011 3:58:22 PM PST · by Razzz42 · 3 replies
    kingworldnews.com ^ | December 9, 2011 | Jim Sinclair Interviewed at KWN
    Entire Audio interview of Jim Sinclair. (No transcript as of yet)
  • Martin Armstrong Speaks About The Collapsing Euro and Monetary System and the Impact of MF Global

    12/09/2011 5:20:56 PM PST · by appeal2 · 1 replies
    www.KerryLutz.com ^ | 12/9/2011 | Kerry Lutz
    Martin Armstrong is back on the show to talk about what's really happening to the world financial markets. He explains how flimsy the entire Euro structure was from the get-go. He advised the leaders to unify Europe both monetarily and fiscally, but they rejected that advice, rightly believing that theexpanded European Union would never have been approved. His only surprise is that the entire structure held together as long as it has. He believes that Germany will be forced to inflate, because no one is willing to accept the consequences of massive deflation, complete with bank failures and widespread unemployment....
  • Gary Wagner of www.TheGoldForecast.com speaks with Kerry Lutz

    12/02/2011 1:56:52 PM PST · by appeal2
    www.KerryLutz.com ^ | 12-2-11 | Kerry Lutz
    Gary Wagner has been a trader and a market technician for over 25 years. In early in 2009 he began to focus his attention on one market: Gold. The yellow metal, gold, began to rally in 2008, but Gary knew the best was yet to come. He believed that gold was poised for an incredible and explosive upside move. Thus the GoldForecast was born. Gary’s daily video newsletter is always interesting and often profitable. He uses a combination of fundamental and technical analysis. We talked about the invention of paper money by the Chinese in the 10th century and their...
  • What Have The Central Banks Of The World Done Now?

    12/01/2011 12:17:50 PM PST · by blam · 12 replies
    TEC ^ | 12-1-2011
    What Have The Central Banks Of The World Done Now?December 1, 2011 The central banks of the world are acting as if it is 2008 all over again. Desperate times call for desperate measures, and right now the central bankers are pulling out all the stops. The Federal Reserve, the European Central Bank, the Bank of England, the Bank of Canada, the Bank of Japan and the Swiss National Bank have announced a coordinated plan to provide liquidity support to the global financial system. According to the plan, the Federal Reserve is going to substantially reduce the interest rate that...
  • Central Banks Net Buyers of Gold for 1st Time in 20 Years (me so love barbarous relic)

    09/19/2011 4:29:23 AM PDT · by TigerLikesRooster · 13 replies
    CNBC ^ | 09/19/11 | Jack Farchy
    Central Banks Net Buyers of Gold for 1st Time in 20 Years Published: Monday, 19 Sep 2011 | 2:55 AM ET By: Jack Farchy, Financial Times European central banks have become net buyers of gold for the first time in more than two decades, the latest sign of how the turbulence in the currency and debt markets has revolutionized the bullion market. The purchases are minuscule compared with the size of the global gold market, but highlight a remarkable turnaround from a wave of heavy selling by European central banks. The role of central banks in the gold market will...
  • Obama and Bernanke: Double-Whammy Disaster

    08/12/2011 9:57:29 AM PDT · by radioone
    American Thinker ^ | August 12, 2011 | C. Edmund Wright
    Interest rate historian and contrarian guru James Grant put the double-whammy actions of Ben Bernanke and President Obama into perfect perspective Thursday when he noted that the Fed had moved past "central banking into central planning." Bingo! Grant went on to say that the Fed was "trying to impose prosperity through manipulation." Bingo again! Think about that phrase -- "to impose prosperity through manipulation." It is brilliantly succinct and accurate in describing what is going on in our nation's economy.
  • Libya: All About Oil, Or All About Banking?

    07/19/2011 4:40:46 PM PDT · by w4women · 8 replies
    Reader Supported News ^ | April 15, 2011 | Ellen Brown
    Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank - this before they even had a government. Robert Wenzel wrote in the Economic Policy Journal: I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences.
  • Why the power of the mighty Federal Reserve is finally on the wane

    04/29/2011 2:34:22 AM PDT · by Scanian · 29 replies
    The Telegraph. UK ^ | April 29, 2011 | Jeremy Warner
    An unprecedented press conference was held in Washington on Wednesday – one that should have been convened a long time ago. And no, it wasn't the one to announce publication of Barack Obama's birth certificate, but rather the first of its kind by the US Federal Reserve. Believe it or not, the Fed has never before made itself directly answerable to the fourth estate for its monetary policy decisions. Accountability and explanation have instead been pursued through official statements, speech-giving, congressional committees and selective background briefings. After nearly 100 years at the helm of the US economy, the Fed has...
  • Morning Note: Gold Replacing Dollar as World’s Reserve Currency?

    03/28/2011 8:20:26 PM PDT · by Tolerance Sucks Rocks · 4 replies
    CNBC ^ | March 24, 2011 | Catherine Holahan
    $105 per barrel oil. Cotton prices at record levels. Food prices at 2008 highs. Typically, such commodity price increases would send central banks running to the U.S. Dollar to secure the value of their savings. After all, the dollar has been the reserve currency since World War I. But not this time. Central banks are shedding dollars [DXC1 76.48 0.105 (+0.14%) ], reducing their holdings by about $9 billion in previous quarter, according to Nomura Securities’ Jens Nordvig, global head of G10 FX Strategy. What are they buying instead? Gold [GCCV1 1417.40 -2.50 (-0.18%) ]. The yellow metal hit a...
  • Ambrose Evans-Pritchard Apologises for Being Wrong on QE and Stimulus Spending

    09/28/2010 10:46:51 AM PDT · by Errant · 22 replies
    The Oracle ^ | 28 September, 2010 | Nadeem Walayat
    Ambrose Evans-Pritchard the head economic poncho at the Telegraph now nearly 2 years from starting his mantra of deficit spending stimulus to prevent a debt deleveraging deflationary depression turns around and says that he has been wrong all along, that central banks such as the US Fed are focused on creating inflation rather than preventing deflation..."I apologise to readers around the world for having defended the emergency stimulus policies of the US Federal Reserve, and for arguing like an imbecile naif that the Fed would not succumb to drug addiction, political abuse, and mad intoxicated debauchery, once it began taking...
  • Basel III Gutted, Delayed As Even Existing Regulatory Regime Too Burdensome.....

    07/27/2010 4:46:41 AM PDT · by TigerLikesRooster · 1 replies
    Zero Hedge ^ | 07/27/10 | Tyler Durden
    Basel III Gutted, Delayed As Even Existing Regulatory Regime Too Burdensome For An Insolvent Banking Industry Tyler Durden on 07/27/2010 03:56 -0500 In light of recent bombastic statements by priests of Keynesian fundamentalism that European banking is one big, non-dysfunctional, even healthy family, it would have been the logical thing that the Basel Committee on Banking Supervision would if not tighten terms on proposed Basel III implementation, then at least keep them as is. Why is why news that the recently proposed adjustments to Basel III which not only delayed implementation of the "regulatory" framework by many years, allowing banks...
  • Central banks join gold rush (as gold hits a new record again !)

    06/19/2010 1:44:27 PM PDT · by SeekAndFind · 7 replies · 407+ views
    CNN MONEY ^ | 06/19/2010 | Annalyn Censky
    Foreign governments have been getting in on the recent gold rush, driven by continued fears about Europe's debt crisis and the pace of the global economic recovery. Those concerns have been propelling the precious metal to record highs over the past 18 months. In fact, gold posted a new intra-day high Friday, when it reached $1,260.90 an ounce. A day earlier, it reached a fresh record high closing price of $1,248.70 an ounce. Last year, foreign central banks were net buyers of gold for the first time since 1997. India, China and Russia have been the biggest buyers. And more...
  • Central banks to restore currency swaps

    05/09/2010 9:37:10 PM PDT · by bruinbirdman · 15 replies · 516+ views
    The Financial Times ^ | 5/10/2010 | James Politi
    Central banks around the world on Sunday night announced they would restore currency swap agreements that were introduced during the financial crisis, in an attempt to ease the strain on banks caused by the European sovereign debt crisis. The move by the Federal Reserve, the European Central Bank, the Bank of England, the Bank of Canada, and the Swiss National Bank was part of an audacious coordinated package by global authorities to combat escalating financial market tensions, including an emergency funding facility worth as much as €720bn in loan guarantees and credits. The Bank of Japan was meeting on Monday...
  • PBOC(China) may hike interest rates in second quarter: report

    04/06/2010 10:23:12 PM PDT · by Cheap_Hessian · 204+ views
    MarketWatch ^ | April 7, 2010 | Chris Oliver
    HONG KONG (MarketWatch) -- China's central bank could raise interest rates in the current quarter, according to a local media report. The rate hike is being considered as economic growth in the first quarter may exceed 11%, according to reports which cited People's Bank of China adviser Li Daokui in comments made to the China Securities News.
  • Australia rate decision still a mystery

    04/05/2010 6:32:12 PM PDT · by Cheap_Hessian · 1 replies · 173+ views
    MarketWatch ^ | April 5, 2010
    LOS ANGELES (MarketWatch) -- Markets and economists remain uncertain if and how much the Reserve Bank of Australia will raise its policy interest rate at its meeting later Tuesday. Reuters reported that its poll of 19 economists showed a 60% chance the RBA will hike rates by a quarter point, while interbank futures as of April 1 show a 54% chance, down from an implied probability of 60% early last week. The RBA, whose decision is expected at 12:30 a.m. U.S. Eastern time, raised its policy cash rate by a quarter point at each of its meetings in October-December of...
  • Race to the bottom with G4 currency rhetoric

    03/10/2010 6:38:48 AM PST · by Cheap_Hessian · 181+ views
    Reuters ^ | March 10, 2010 | Mike Dolan
    (Reuters) - With economic policy stimuli already at full tilt, no government wants an overvalued exchange rate to slay recovery, and the rival "soft currency" needs are producing some elaborate rhetorical jousting. The problem is that major exchange rates -- at least those between the developed G4 economies of the United States, euro zone, Japan and Britain -- are largely market determined and difficult to control. There's no magic wand to conjure up devaluation and the monetary and fiscal levers that could possibly engineer a free-floating depreciation are near exhausted. G4 interest rates remain near zero. New money and liquidity...
  • Australia raises interest rates to 4%

    03/02/2010 4:10:36 AM PST · by Cheap_Hessian · 4 replies · 350+ views
    BBC News (UK) ^ | March 2, 2010
    Australia's central bank has raised interest rates, for the fourth time since October, as it seeks to cool its growing economy. The increase, to 4% from 3.75%, was widely expected by economists. Australia was the only major economy to avoid recession, and the first to raise rates from 50-year lows as the economic crisis eased.
  • Another Australia rate hike likely, though timing uncertain

    02/16/2010 11:52:55 AM PST · by Cheap_Hessian · 1 replies · 131+ views
    MarketWatch ^ | February 15, 2010 | Michael Kitchen
    LOS ANGELES (MarketWatch) - The surprise decision by Australia's central bank to leave its policy interest rate unchanged earlier this month doesn't preclude another hike in the near future, according to policy-meeting minutes released Tuesday. The minutes from the Feb. 2 meeting of the Reserve Bank of Australia indicated further increases for the benchmark cash rate are likely, though not necessarily at the next meeting on March 2. "Members expected that, if economic conditions continued to improve as expected, further increases in the cash rate were likely to be necessary. But they did not regard that outlook as requiring an...
  • Investment Outlook, Let's Get Fiscal

    02/07/2010 1:47:05 PM PST · by Comrade Brother Abu Bubba · 11 replies · 354+ views
    PIMCO (Pacific Investment Management Group) ^ | January 2010 | William Gross
    Investment Outlook, Let's Get Fiscal If 2008 was the year of financial crisis and 2009 the year of healing via monetary and fiscal stimulus packages, then 2010 appears to be the year of “exit strategies,” during which investors should consider economic fundamentals and asset markets that will soon be priced in a world less dominated by the government sector. The problem that the U.S. Fed’s “exit” poses: Fiscal 2009 deficit totaled nearly 12% of GDP, requiring over $1.5 trillion of new debt to finance. The Chinese bought a little ($100 billion), but as shown in Chart 2, foreign investors as...
  • Eric Sprott On How Central Banks Are Setting The Stage For The Next Big Move In Gold

    01/31/2010 8:05:51 AM PST · by FromLori · 19 replies · 1,049+ views
    ZeroHedge ^ | 1/30/10 | Tyler Durden
    A brief look at the contentious gold/central bank history as it is about to rhyme all over again: The Federal Reserve System was created in 1913 on a promise of stabilizing the banking system. What followed instead was an unprecedented growth in fractional reserve banking, as well as the money supply, which helped fuel the roaring 20’s. The aggressive money printing created inflated values in bonds and stocks, which peaked in 1929. When the market began its precipitous slide, and the public began to realize that stock and bond values were artificially high, the populace began to convert its cash...
  • Fed Publishing Mathematical Gibberish To Hide Balance Sheet Secrets

    01/13/2010 4:15:19 PM PST · by blam · 2 replies · 265+ views
    The Market Oracle ^ | 1-13-2010 | Mike Shedlock
    Fed Publishing Mathematical Gibberish To Hide Balance Sheet Secrets Politics / Central Banks Jan 13, 2010 - 11:17 AM By: Mike Shedlock The Fed is pulling out all stops to defend its secrets, including publishing self-serving mathematical gibberish. Please consider the St. Louis Fed article on the Social Cost of Transparency. Unless you are an academic wonk, you will be stymied by pages that look like this ... There are 24 pages of such nonsense with titles like 2.2 Private Information and Full Commitment 2.3 Private Information and Limited Commitment 3.2.1 Decision Making in the Day 3.2.2 Decision Making at...
  • The Gang that Couldn't Shoot Straight: Central Bankers and Gold

    12/03/2009 7:01:36 AM PST · by danielmryan · 6 replies · 450+ views
    Seeking Alpha ^ | December 3, 2009 | Joseph L. Shaefer
    Numerous articles on SA have talked about the “cabal” that has kept gold from rising over the years. If it is a cabal, it is truly the equivalent of The Gang That Couldn’t Shoot Straight, The Italian Marching Band, and the US Post Office and Treasury Department all rolled into one. Why seek conspiracy when simple stupidity will suffice? These guys just couldn't get it right...
  • Panicked Gold Buying Forces Vietnam To Devalue Currency

    11/25/2009 6:31:45 AM PST · by danielmryan · 32 replies · 933+ views
    The Business Insider ^ | November 25, 2009 | Vincent Fernando
    Vietnam has been forced to devalue its currency, the dong, for the third time since June 2008. The country's pegged exchange rate will shift to 17,961 dong per dollar vs. 17,034 previously. The Vietnamese central bank will also hiking interest rates to 8% from 7% in an attempt to control inflation.
  • The Fed Is Bailing Out Every Bank In The World

    11/21/2009 6:21:04 AM PST · by FromLori · 19 replies · 758+ views
    The Business Insider ^ | 11/21/09 | John Mauldin
    And setting us up for a massive stock-market crash, to boot. Where the Wild Things Are is a beloved children's book and now a beautiful movie. But in the investment world there are really scary wild things lurking about in the hidden recesses of the economic landscape. Today we look at one of the unintended consequences of the Federal Reserve's low interest rate policy. For quite some time, I have been arguing that we are faced with no good choices, not just in the US but in the entire "developed" world. I see a low-growth, Muddle Through world over the...