Thursday, 31 May 2012
Eighty percent of the Greek population want both: to remain in the euro currency zone; and to amend the debt agreement with creditors, according to a recent poll prior to the June 17 election.
Buyers of foreclosed US property may not own that property, according to Dr Lan T Pham in Capital Account's interview. Doubt is cast upon which collateral exactly backs mortgaged back securities. The important aspects of this issue have not been reported fully in the mainstream press, despite awareness.
Wednesday, 30 May 2012
Monday, 28 May 2012
Sunday, 27 May 2012
Friday, 25 May 2012
Thursday, 24 May 2012
The German Central Bank has issued long term bonds with a zero percent coupon rate. Lenders are effectively paying to lend to Germany, again. This reflects the real market: investors are reallocating their funds away from risk to safer, non yielding assets.
Wednesday, 23 May 2012
"With austerity, Greece will need a third bail-out"- Tsipras. Without austerity, Greece will need a third bail-out. See Der Spiegel's article "Tsipras says Berlin must back down on austerity" and the earlier posting "third Greek bail-out". Tsipras' position echoes that foreshadowed in "Greece likely to receive permanent bail-out, relieved of all obligations for financial prudence".
Wednesday, 16 May 2012
The influence of large financial institutions over derivatives pricing has loosened the relationship between derivatives prices, their underlying assets, and their mathematical models, according to Chris Sheridan. JP Morgan's recent loss suggests that theoretical pricing models of derivatives may no longer work properly.
Tuesday, 15 May 2012
Saturday, 12 May 2012
JP Morgan's derivatives loss amplifies deep concerns about the financial safety of the big banks. Financial backstops designed to protect those banks privileged to be "too big to fail", along with very low interest rates and now declining profits, create incentives for those big banks to further increase their gigantic financial risks.
Friday, 11 May 2012
See "China's ban on Vale's iron ore carriers costs Chinese firms", courtesy of MineWeb, and "China bans Brazil's iron ore ships".
Wednesday, 9 May 2012
Saturday, 5 May 2012
Tuesday, 1 May 2012
I found this interview "GATA's Bill Murphy exposes how the gold cartel is bombing the market for precious metals" interesting. GATA's* Bill Murphy claims that certain gold ETFs (exchange traded funds) are the major shorts in the gold market, including GLD whose gold custodian is HSBC.