Silver as an investment

Category Archives: Bad Bank

This Is How A “Bail-Out” Becomes A “Bail-In”

Authored by Simon Black via SovereignMan.com, Here’s the perfect example of how insane our financial system has become. It was announced yesterday that, after a 24-hour white-knuckled ride, Spanish banking giant Banco Popular had been sold to Banco Santander for the price of just 1 euro. Note- that’s 1 euro in TOTAL. Not 1 euro […]

Global Stocks Hit All Time High As Fed Meeting Begins

With the Fed set to begin its latest 2-day meeting (no rate hike is expected), S&P futures are little changed with European and Asian stocks higher after the VIX dropped to a 10 year low and the Nasdaq rose to record highs, sending the MSCI All-Country Index back to all time highs, as global markets […]

Seven Impossible Things Before Breakfast

Submitted by InternationalMan's Jeff Thomas, via The Burning Platform blog, Alice laughed. “There’s no use trying,” she said. “One can’t believe impossible things.”   “I dare say you haven’t had much practice,” said the queen. “When I was your age, I always did it for half an hour a day. Why, sometimes I’ve believed as […]

Revisiting the Breakdown of the Macro Drivers Behind Bitcoin’s Price Spike, Exactly As I Foretold 30 Day Ago

One month ago I walked through the macro influences behind Bitcoin’s price pop and drop in “The Macro Truth About The Big Bitcoin Pop and Drop: The Mainstream Media Doesn’t Have A Clue“. Well, we’re close to the peak again at $1,157.77 per coin, and the macro scene still holds a lot of explanation…. The […]

Wells CEO To Tell American People He Is “Deeply Sorry” And “Accepts Full Responsibility”, But Won’t Resign

Today at 10am, the US public will be treated to the latest Congressional kangaroo court, when Wells Fargo CEO John Stumpf will tell the Senate Banking Committee that he is “deeply sorry”, and accepts “full responsibility” for unethical sales practices in its retail banking business while apologizing for “not doing more sooner” to address the […]

Global Stocks Rebound, US Futures Jump On Expectation Of “Coordinated Intervention By Central Banks”

After a historic two-day selloff, which as shown yesterday slammed European banks by the most on record… … the wildly oversold conditions, coupled with hopes for yet another global, coordinated central bank intervention, coupled with modest hope that David Cameron’s trip to Brussels today may resolve some of the Article 50 gridlock, have been sufficient […]

The First Casualty Of Brexit: Italy Prepares €40 Billion Bank Bailout

Barely has the market had time to digest last week’s Brexit vote by the UK, a vote which may never actually be implemented if the “sturm und drang” campaign unleashed by the EU and the ECB on UK capital markets succeeds in changing the mind of enough “Leavers” to the point that the entire referendum […]

Next Banking Scandal Explodes in Spain

By Don Quijones, Spain & Mexico, editor at Wolf Street. Next Banking Scandal Explodes in Spain The last five years have been a bumper period for banking scams and scandals in crisis-ridden Spain. From Bankia’s doomed IPO in 2012 to the “misselling” of complex preferentes shares to “unsophisticated” retail bank customers, including children and Alzheimers sufferers, […]

Frontrunning: June 1

Japan PM delays sales tax hike, puts fiscal reform on back burner (Reuters) Japanese Shoppers Keep Wallets Shut Despite Sales-Tax Delay (BBG) Global stocks limp into June on oil and data slips (Reuters) Euro zone factory growth remained tepid in May – PMI (Reuters) China’s factories steadying but weak, hopes for quick recovery fade (Reuters) […]

Is China A “House Of Cards”?

Authored by Pepe Escobar, originally posted Op-Ed at SputnikNews.com, Let’s start by examining what the Dragon himself – President Xi Jinping – has to say about China being largely derided in influential Beltway circles as a House of Cards. Xi has forcefully dismissed the notion that a House of Cards power struggle has been raging at the […]