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UK Bail-Ins begin

20 Jun


As reported by the silver doctors, via the Daily Telegraph, bail-ins have now transmuted from Cyprus to Britain.

Expect much more of this kind of thing, as the banksters trouser your pension, savings, and income, to keep themselves nice and wealthy under the privileged system of government-run fractional reserve banking.

HT to AH

Bail-ins for everyone

17 Jun

Satan TrappedIt could only happen in Cyprus?

Think again. The latest thinking coming out of the Federal Reserve is that the entire world is going to be subject to ‘bail-ins’ to save all of the banks which own the Fed:

Here’s a quote:

“Perhaps more to the point for TBTF, if a SIFI does fail I have little doubt that private investors will in fact bear the losses.”

You have been warned.

And note the inability to call TBTFs (Too-Big-To-Fails) and SIFIs (Systemically-Important-Financial-Institutions) what they are, which is ZBs (Zombie-Banks), and the use of these obfuscatory acronyms perhaps designed by neurolinguistic programming gurus to make their unfailability ‘inevitable’ in our minds.

Perhaps, Jeremy, we might let the free market work? It’s an idea which gave us western civilisation. It’s a shame we started letting go of this idea in 1913, when the Federal Reserve was created by the big banks of New York to eventually get us into this mess.

G20: Global Finance in Transition conference takes place in Istanbul

8 May

Hosts of the event

Interesting news emerges from within the bowels of the G20 organisation, the nascent world-government-in-waiting:

“On May 7-8, 2013, Istanbul (Turkey) will host the Global Finance in Transition conference. The event is organized by the Central Bank of the Republic of Turkey jointly with the Reinventing Bretton Woods Committee and the Russian Ministry of Finance.

Representatives of G20 finance ministries and central banks, international organizations, research institutions and businesses will take part in the conference. Head of Turkey’s Central Bank Erdem Basci, Deputy Minister of Finance of Russia Sergei Storchak and Executive Director for the Reinventing Bretton Woods Committee Marc Uzan will give the opening remarks at the conference.

Five panel discussions are planned as part of the event. They will cover the international financial architecture, in particular, changes in the flow of global investments, local bond markets and growth in emerging economies, incentives and determinants of investment and other issues. In addition it is expected that new instruments and incentives for making the global financial system safer will be suggested during the forum.”

It’s strange, of course, why the complete re-architecturing of the global financial system has been entirely missed by the mainstream media, despite being right in front of them. Alas, they have more important stories to cover, such as retiring soccer managers,  boys with pet cheetahs, and Britney Spears finding dieting tough.

Well, I suppose such frothy bubbles keeps us proles happy, but investigative journalism certainly is a lot less challenging these days than it once aspired to be.

If we see any more emerge from this apparent non-story, we’ll be sure to let you know.

Sibileau: Governments will be forced to resort directly to basic asset confiscation

7 May


Stop all the clocks, cut off the telephone, prevent the dog from barking with a juicy bone, silence the pianos, and let the aeroplanes circle moaning overhead. Then read this article by Martin Sibileau:

(Here’s the PDF version.)

Yes, it is an exceedingly technical article, and I would point-blank refuse to sit a 2-hour examination paper based upon it. However, if you wrap a wet towel around you’re head long enough the article makes sense, particularly its last paragraph, and especially its last line:

“Over almost a century, we have witnessed the slow and progressive destruction of the best global mechanism available to cooperate in the creation and allocation of resources. This process began with the loss of the ability to address flow imbalances (i.e. savings, trade). After the World Wars, it became clear that we had also lost the ability to address stock imbalances, and by 1971 we ensured that any price flexibility left to reset the system in the face of an adjustment would be wiped out too. This occurred in two steps: First at a global level, with the irredeemability of gold: The world could no longer devalue. Second, at a local and inter-temporal level, with zero interest rates: Countries can no longer produce consumption adjustments. From this moment, adjustments can only make way through a growing series of global systemic risk events with increasingly relevant consequences. Swaps, as a tool, will no longer be able to face the upcoming challenges. When this fact finally sets in, governments will be forced to resort directly to basic asset confiscation.

As they say in cheap novels, you have been warned.

Ben Bernanke is the Mao of Central Banking

6 May


Another great Max Keiser show, as he details the continuing failures of the western world’s central banking central planners. Look out for the great shot of a truck backing up, to metaphorically fill itself up with gold.

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Great Leap Forward in central banks’ central planning which has driven the Housewives of China to buy 300 tons of gold, an act of disloyalty to the central bank revolution. Max notices that Mrs. Wang has displaced Mrs Watanabe as the most important buyer in global financial markets. In the second half, Max talks to Alasdair MacLeod of about everything to do with the physical and paper gold markets – from open interest to naked short selling by bullion banks.

Everything is in a bubble and it’s going to be pricked

4 May

Eagle Above

Another excellent CBC documentary from Canada, detailing how the  shibbolethic technocrat disciples of Keynes are sleepwalking the western world into Doug Casey’s greater depression, one round of quantitative easing at a time.

At the end of the documentary, Neil Macdonald states that it’s impossible to know whether this will end in a recovery or a reckoning. He’s playing with his audience of course, because Mr Macdonald knows there will be a reckoning, just as all Austrians know there will be a reckoning.

The central bankers are trying to keep the stagnating western economic balloon floating through the air. They are preventing the downward adjustment of prices that want to fall under the compelling force of free market gravity by pumping in gargantuan amounts of uplifting fiat currency helium:

  1. If the Basel Cabal stops pumping in the helium – as they briefly experimented with in Cyprus – this western economic balloon will implode and its basket underneath will plummet towards the Earth in a hyperdeflation to end all hyperdeflations.
  2. If the Basel Cabal keeps pumping in the helium, the balloon will swell to a point where its seams will rip apart and explode, in a global hyperinflation to end all hyperinflations. In this explosive case, nobody at all knows where the basket underneath will land. (The relatively small and isolated Weimar hyperinflation gave us Hitler. What will a hyperinflation across the entire western world give us?)

And the longer the Basel Cabal keep trying to push away this malinvestment-correcting monetary implosive/explosive event, the worse the crack-up boom will be and the longer it will last when its chaotic trigger is finally pulled by some Cyprus-style event.

As one of the documentary’s speakers says, everything is in a bubble and this bubble is going to be pricked by some random black swan event.

Just make sure you’re positioned appropriately, perhaps by using TEV’s services, when this random black swan eventually pricks the Basel Cabal’s fiat currency bubble:

CBCNational: The world’s central banks have printed unimaginable amounts of money in recent years. Neil Macdonald explores what this means for the global economy and for your financial well-being.

New $100 dollar bill just released!

26 Apr

According to the St. Louis Fed, the U.S. adjusted monetary base has just exceeded 3.0 trillion for the first time. That happened on April 17th:

St Louis Fed US Money Supply

Please see below the appropriately and newly designed $100 Bill:

New Ben Bernanke 100 dollar bill