STAFF NEWS & ANALYSIS Showing 4701 - 4750 of 4877
Soros Warns of Global Depression if G20 Fails
April 02, 2009
He is one of the best free-market traders of all time. And again, with this downturn, he has made literally billions, betting against various currencies. Sooner or later we think he will bet against the US dollar and go out in a blaze of glory having made billi ...
Chavez Wants Arab Backing for Petro-Currency?
April 01, 2009
We are not sure if a new monetary standard will be announced following the upcoming G20 meeting. But maybe the meeting's communique might hint at such thing. In any event, we are sure that anything that comes out of such meeting will not be market-based. How co ...
Russia Backs Return to Gold Standard?
March 31, 2009
It is not easy to say with any certainty what is going on in the halls of global leadership. But it would seem that the groundswell of support for gold-as-currency has proven so powerful that it must be acknowledged at the highest levels. It is not yet being ac ...
Germans Wreck 'Global New Deal'
March 30, 2009
If one concludes that the upcoming, tripartite formulation for increased global controls is the main aim of the G20 summit, then the controversy over additional funds to combat the current fiscal crisis may be seen as something of a sideshow. The by-now worldwi ...
UN Panel Touts New Global Currency Reserve System
March 27, 2009
Yes, it is fairly obvious that the monetary elite – central bankers and others – have decided for one reason or another that now is a good time to plump for a global currency. Like everything else in this modern day and age, the promotion is not especially ...
Geithner 'Open' to China's Proposed IMF Global Currency?
March 26, 2009
You could see them popping like metaphorical popcorn kernels yesterday, all over America and probably in Canada and the EU as well. So called conspiracy "nuts" jumping into the sky as if they'd been fried in oil and propelled heavenward. What likely bounced the ...
U.S. Seeks Expanded Power to Seize Firms
March 25, 2009
There is some difference yet between what Obama is trying to do and what Roosevelt attempted. But the difference is only one of method, not motive. Obama is a go-slow kind of fellow, at least compared to Roosevelt. But he has no problem with wage and price cont ...
China Wants IMF to Manage New One-World Reserve Currency
March 24, 2009
We were all set to believe that Zhou came to his conclusions by himself, from rigorous study of the way the world works. But now we are not so sure. And here is a question that gives us a bit of a headache: Where does all this enthusiasm for the IMF come from i ...
Barack Obama Will Back a Federal Europe
March 23, 2009
The American and EU perspectives could not be farther apart. The American experiment was conceived as one in which each individual was sovereign and the state was the subservient entity. The EU is conceived of in exactly the opposite way. It was put together by ...
Is This the End of America?
March 21, 2009
The farther away from the American Constitution – which still embodies bedrock principles to many -- that the federal leadership drifts, the worse the confusion and corruption becomes. The trouble is, when a country's founding mythos cannot be supported, even ...
AIG World of $1.6 Trillion Derivatives Trouble
March 20, 2009
Here's our question. If AIG has a potential US$1.6 trillion exposure, and it is JUST ONE COMPANY, how much more exposure is out there of this nature? Journos in business pubs throw around the figure US$400 trillion and it seems perfectly likely if, indeed, AIG' ...
Obama Calls for More Financial Regulation
March 19, 2009
The mythos - like preparations to entomb a mummy - is being painstakingly prepared. The wrappings are steeped in preservation fluids. The body is hollowed out. Certainly, the Federal Reserve could print all the money the "bailout" needs, but that would interfer ...
Banks Pop on Talk of Accounting Rule Relief
March 18, 2009
The argument over mark-to-market perpetuates the idea that better regulation can rationalize markets and prevent what just happened from happening again. But the whole stock market, from the definition of "public companies" to the regulatory apparatus that has ...
Geithner Told to Stop AIG Bonuses
March 17, 2009
To fulminate about AIG bonuses is to miss the point. There is no way that America's largest insurer could have or would have taken such risks were not the entire system corrupt from bottom to top. AIG's top people were not foolish, anymore than the rest of Wall ...
Cheney: Obama Wants 'Expansion'
March 16, 2009
That the mainstream media continued to portray the administration as "conservative" – and that even the conservative mainstream press remained quiet while the Bush administration expanded federal power in every conceivable way – remains an astonishing pheno ...
45 Percent of World's Wealth Destroyed
March 14, 2009
It is no wonder that history never seems to sort out the full truth. Those living through the Great Depression probably saw the problem full on, but to peer backward in time is to look through a very foggy glass. Will the same thing happen today? Will our child ...
Geithner Calls for Tripling of IMF Firepower
March 13, 2009
Couldn't one conclude that the purpose of such commentary is to serve the interests of a centralized power? Couldn't one also assume that the monetary elite is increasingly uncomfortable with the growing audience of free-market thinkers that exists outside the ...
America's Congress Hard at Work: Your Bill – $1 Billion an Hour
March 12, 2009
People are waiting nervously to see if President Obama's $3.2 trillion stimulus-budget will work (if passed). But it will not work because it does not put money into the hands of individual entrepreneurs and consumers who are necessary to the basic health of th ...
Bernanke Calls for Powerful Regulator
March 11, 2009
Again comes the drum roll of potential cures for the economic crisis. Over in Britain, Gordon Brown has his own ideas about what constitutes a cure for the current financial maelstrom. Brown wants an over-arching global regulator and a regulatory regime adminis ...
Is Obama a Socialist?
March 10, 2009
Very recently uber-investor Warren Buffet gave an interview saying that the economy was falling off a cliff and American's could see inflation that surpasses that seen in the late 1970s. The major liberal US newsweeklies, Newsweek especially, are starting to ta ...
IMF Gives Itself an F in Spotting Financial Crisis
March 09, 2009
There seems to be an obvious pattern. Brown calls for an institution like the IMF to receive a far greater and more cohesive international role – meanwhile the IMF releases a report that shows how incompetent it is. The IMF report is self-damning no doubt, bu ...
Citigroup Stock Below $1 as Investor Faith Erodes
March 06, 2009
It is indeed puzzling to see the fluctuating value of marketplaces and major financial players. Bank of America and even venerable Wells Fargo are plunging toward the penny stock range (BOA is already there.) Of course, people don't get it. Capitalism has faile ...
Senator Levin: UBS Declared War Against American Taxpayers?
March 05, 2009
It will be both fascinating and worrisome to see how this plays out. America is still the most powerful and, in some ways, most prosperous country in the world. The Obama regime so far has shown little compunction in moving quickly to leverage staggering sums o ...
Bernanke Says U.S. May Need to Expand Bank Rescue
March 04, 2009
Unfortunately, Bernanke is not party to political solutions. It is his job to "stabilize" the world's largest economy using the tools of fiat money. But since the entire system of fiat money has now pretty much collapsed, that is a tall order indeed. It cannot ...
Obama Fights Presidential Eligibility Claims
March 03, 2009
Forget where Barack Obama was born. That the issue is still alive at all is the important part. It sure isn't alive because of the mainstream press – there's hardly been mention of it. But it's still all over the Internet. The article goes on to state that on ...
Gordon Brown Aims for 'Global New Deal' With Barack Obama
March 02, 2009
How are they going to perform this feat? You would think they'd figure out a way to slash government expenses through efficiencies of scale. Then they'd make a joint declaration about cutting taxes and finally they would pledge to reexamine the role that fiat m ...
Obama Budget: A Staggering $1.75 Trillion Deficit
February 27, 2009
Obama's curatives are truly radical in size and scope, justified supposedly by the dire predicament of the American economy. George Bush's egregious spending was justified by a supposed war on terror. Either camp has its reasons to spend trillions of dollars, b ...
Obama's Plan: Keep Pumping in Dollars Until 'Change' Is All That's Left
February 26, 2009
So much money being spent means that the public sector will inevitably continue to choke off the private sector to some degree. Government is notoriously inefficient at creating jobs, except of the make-work variety. In order for the American economy and the wo ...
Hold on a Minute: Gold Is Just Another Commodity – Bet on Equities Long Term?
February 25, 2009
Really? Is this truly any reason not to buy gold? Is this any reason not to hold gold? With regularity, gold goes up when turbulence hits the fiat marketplace. Had you purchased gold in 2001 when it was hovering near US$250 and held it you would have quadrupled ...
Germany's Precarious Predicament: Continue to Stand on the EU Gallows or Walk Away
February 24, 2009
Poor Germans, they have been through a lot. Do they really want to take on the de facto responsibilities of running an empire? Do they want to deal with the Basques, the Irish and the Italians all at once? There has never been any sort of buy-in for this rag-ta ...
Sarkozy to Lead European Crackdown on Tax Havens
February 23, 2009
The suspicion always is that the monetary elite itself jealously guards its privilege and that the current crisis is one more way to create a command and control economy that lessens opportunities at the same time as it ratchets up regulatory pressure. The solu ...
Swiss Bank Secrecy Gets a Black Eye After UBS Settlement With US
February 20, 2009
There are actually two kinds of banks in Switzerland these days. There are a few big banks like UBS and Credit Suisse that can rightly be called international - "public" - banks and then there are Swiss private banks. It is the public, international kind of Swi ...
NY Fed: Tax Cuts May Heighten Deflation Risks
February 19, 2009
There are numerous ways to combat a depressive economy, but printing more money and providing massive government outlays for make-work programs will only aggravate the problem. What works are tax cuts and reducing government spending. What would work even bette ...
Top Republicans Cheer for Nationalization of Banks?
February 18, 2009
You could hear a lot of talk about nationalization over the next weeks and months, we would think - whether or not it occurs. And yes, after a while you may grow inured to the concept. But in fact nationalization is not shorthand for "government taking over ban ...
NY Governor's Secret Pay Raises Draw Criticism
February 17, 2009
We are not suggesting that citizens of Western economies will be reduced to eating grass, only that the inevitable race downhill will never be won by government types. They will lag behind, raising taxes and salaries where they can, reducing benefits, compensat ...
U.S. Stimulus Verdict: A $3.27 Trillion Porker
February 16, 2009
The current spending packages are not actually intended to "stimulate." They are more likely a way of buying off civil discontent and buying time to prop up the system. Meanwhile, there is an ongoing mainstream media campaign to confuse the Western middle class ...
IMF Confirms Plan to Sell 403 Tonnes Gold
February 13, 2009
We're not sure these two articles add up to a trend. But decades of gold-watching gives us the idea that while the monetary elite may be resigned to higher gold prices, they are not likely to give up "input." Slow or fast, the ascent of gold and silver will arr ...
European Commission Report Says $25 Trillion in Toxic EU Bank Holdings
February 12, 2009
As long as we are patting ourselves on the back, we shall go ahead and risk a cramp by pointing out that we also made the following prediction: The total bailout, over time, including central bank monetization, may well be somewhere in the area of US$100 trilli ...
Geithner: The Man With No Plan
February 11, 2009
We're sure Geithner et. al. will keep tinkering until they come up with a formula that gets at least a bit of a better reception on Wall Street. The market will rise up at least temporarily, and the mainstream media will make a big deal about it. The implicatio ...
Geithner Says G7 Should Act 'Promptly' on Economy
February 10, 2009
Timothy Geithner, one of at least four Barack Obama nominees that did not pay all his taxes – (and apt to be an even more aggressive leveler to make up for it) – is scheduled to attend a meeting of the G7 industrial countries on Friday. It's all very hush, ...
Official Figures Obscure China's Decline
February 09, 2009
What does China need to do now? The answer apparently is that it will provide goods and services at a faster rate to its own population. Whether this is feasible is yet another question, but China's aging leaders have decided to try. They need to do something a ...
Saving Banks From Themselves
February 06, 2009
Yesterday we analyzed a Herald article that indicated the citizens of Iceland were irritated that the central bank hadn't properly reined in their commercial banks. We pointed out that it was rather more likely that those in Iceland were annoyed with the centra ...
Russia Takes the 'Monetary' Road Less Travelled
February 05, 2009
OK, we know how hideous the Russians are. Vladimir Putin has been nationalizing everything in sight, and what he doesn't nationalize the KGB (or whatever it is called now) beats into a pulp, especially reporters. But nonetheless, the above article excerpt makes ...
Global Crisis Has Wiped Out 40% of World Wealth
February 04, 2009
Are you a confused denizen of the West – or East for that matter? You can hardly be blamed if you are puzzled by headlines and stories such as these. Normal people go to work, make a living and try to save what they can. They may own a house, a car and have s ...
Australian Prime Minister Calls for New World Order
February 03, 2009
The SMH article, excerpted above, in its entirety is filled with one odd factoid after another. But we find it interesting because we've been waiting for a statement about how the center-left leaders that run most of the world's Western governments these days a ...
No Answer at Davos Forum to Global Meltdown
February 02, 2009
For regular readers of the Bell, such difficulty is hard to fathom. Here is what even such great minds as those that blessed Davos ought to consider: Cut taxes drastically; cut government spending drastically; reduce central banking activities as much as possib ...
U.S.-China Currency War Threatens the World
January 30, 2009
The salient point of this article is that "tempers flair," and that if the United States pushes China too hard, the Chinese leaders will dump Treasuries on the market and in doing so break the fiscal back of the free world. Of course maybe it isn't so simple as ...
Putin Calls for End of Dollar Stranglehold
January 29, 2009
What the heck are multiple reserve currencies? In fact, what's a reserve currency anyway? It's actually a post World War II development, courtesy of Bretton Woods that made the dollar the world's most accepted money. At the time, countries were still gasping al ...
U.S. Raises Stakes in Showdown With UBS Over Swiss Bank Secrecy
January 28, 2009
We can't shake the feeling that there is more at work here than irritation with the Swiss - or a need for additional US taxpayer funds, or even a determination to punish miscreants. We can't prove it, but it strikes us that the financial crisis is being used to ...
Alan Blinder: Six Errors on the Path to the Financial Crisis
January 27, 2009
One of the illuminating experiences of living through a fiat-money crash is to see how the system perpetuates itself, even though the system itself may be at least partially at fault. This article, excerpted above, is a beautiful example, our estimation, of pro ...
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