Misrepresents what I say a bit, but they do have my picture next to JFK! ;) The IMF: sovereign currency, no longer the monopoly of the banks Eliminate the public debt of the United States at once, and do the same with Great Britain, Italy, Germany, Japan, Greece. At the same time revive the ‘ […]
Tag Archives: Treasury
Comments on Senator Sanders article on the Fed
Dear Senator Sanders, Thank you for your attention to this matter! My comments appear below: The Veil of Secrecy at the Fed Has Been Lifted, Now It’s Time for Change By Senator Bernie Sanders November 2 (Huffington Post) — As a result of the greed, recklessness, and illegal behavior on Wall Street, the American people […]
News recap comments
The news flow from last week was so voluminous it was nearly impossible to process. For good measure I want to start today’s commentary with a simple recap of what happened. On the negative side – · Greece called a referendum and threw bailout plans up in the air taking Greek 2yrs from 70% to […]
President Obama entering the fray
More of the blind leading the blind. The one thing they all agree on, at great expense to global well being, is the budget deficits are all too large and the need for shared sacrifice and all that. No chance for anything constructive to come out of any of this. And these masters of their […]
CBO Congressional Report- U.S. Could Face European-Style Debt Crisis
How about the accounts sticking to accounting. Just in case you thought there was any hope: But most ominously, the CBO report warns of a “sudden fiscal crisis” in which investors would lose faith in the U.S. government’s ability to manage its fiscal affairs. In such a fiscal panic, investors might abandon U.S. bonds and […]
Major Banks Likely to Get Reprieve on New Capital Rules
The real problem is if you understand what a bank is, you wouldn’t be trying to use capital ratios to protect taxpayer money. First, notice that the many of the same people clamoring for higher capital ratios have also supported ‘nationalization’ of banks, which means there is no private capital. So it should be obvious […]
The latest from our Treasury
[Skip to the end] TREASURY AIMING TO NOT HAVE BANK STRESS TEST RESULTS REVEALED UNTIL END OF APRIL AT EARLIEST–SOURCE FAMILIAR WITH TREASURY TALKS TREASURY WANTS TO DELAY ANY PUBLIC RESULTS OF COMPLETED TESTS SO AS NOT TO COMPLICATE MARKET’S REACTION TO BANKS’ Q1 EARNINGS–SOURCE This is most peculiar. This administration continues to make one […]
Reverse auction proposed
[Skip to the end] Under this proposal from treasury, they would ask for offerings from the banks and then take the lowest prices for up to $50 billion at a time. This means they will be paying more and more for each round of purchases, driving up the prices from current market value. And if […]
U.S. Treasury announces plan to insure money-market holdings
[Skip to the end] On Fri, Sep 19, 2008 at 9:44 AM, Scott asks: These moves HAVE to be bad for the dollar, no? Not much effect per se. Immediate effect is higher interest rates/stronger stocks which very near term helps the USD. But it seems saudis are hiking price which, if it continues, will […]
Equity prices dropping to takeover levels
[Skip to the end] A while back I wrote about how shareholders were at risk of management selling them up the river with dilutive converts and the like. But if a someone buys all the shares in a takeover they don’t have that risk. Therefore, I concluded, equities would get cheap enough for a massive […]