Daily Archive: Monday, June 8, 2009

BRICs Add $60 Billion Reserves as Zhou Derides Dollar

[Skip to the end] They don’t like to buy dollars but they don’t want their currencies to appreciate and risk export market share. And Bernanke, Geithner, and Obama want them to let their currencies appreciate to help our exports and ALSO want them to buy dollars and treasury securities because they think ...Read More

WestLB Was Close To Being Shut Down Over Weekend

[Skip to the end] What seems to be happening is bank ‘funding needs’ are become funding needs of Germany itself. While this adds to Germany’s funding pressures, this process can go on indefinitely unless/until germany cannot somehow fund itself. Not long ago the finance ministers announced they had a contingency plan for ...Read More