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Tag: banking

Money as Debt

Money as Debt

This is coming full-circle to how I began my blog in 2012 Neil Oliver: ‘By taking back control of the money we can begin regaining control of our world’ Neil Oliver: ‘Now is the time to take back control of money – Its creation, its value and its flow. By so doing, we can begin the task of regaining control of our world.’ Money as Debt I – Revised Edition 2009

After Liz Truss nearly wiped out the UK pension system.

After Liz Truss nearly wiped out the UK pension system.

UK’s Truss Pushed Into “Humiliating” U-Turn, Scraps Tax Cuts For Top Earners To “Restore Credibility” UK Prime Minister Liz Truss was pushed into what the FT called a “humiliating” U-turn forced by growing discontent from members of her own Conservative Party, when she ditched her plan to slash taxes for the highest earners just over a week after announcing her shocking “mini-budget”  which set off an avalanche of selling in the sterling and gilts and nearly wiped out the UK…

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The next Lehman Bros?

The next Lehman Bros?

There are some serious rumours doing the rounds about a major bank failure October about to start with a disaster? ABC Australia is reporting that a major investment bank is on the brink, citing ‘a credible source’. Most are pointing towards Credit Suisse. It was caught out in the Archegos disaster and since then (Feb 2021) its share price has spiralled to $3.90 from $14.90. Moreover, the credit default swaps are at distressed levels. A memo from the CEO to…

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Emergency action by Bank of England amid UK economic turmoil

Emergency action by Bank of England amid UK economic turmoil

Kwasi Kwarteng WON’T rethink tax-cutting Budget: Ministers deny blame for ‘global’ market chaos after Bank of England is forced to launch £60billion government debt buy-up to stop soaring interest rates causing ‘mass’ collapse of pension funds Bank of England has stepped in to buy long-term government debt to stop ‘material risk’ of financial chaos The BoE will buy gilts for the next two weeks after interest rates soared in the wake of the Emergency Budget   IMF has criticised the package,…

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Australia’s Central Bank Says It Is Bust

Australia’s Central Bank Says It Is Bust

Australian Central Bank Goes Bust Australia’s Central Bank Says It Is Bust After the Australian fiscal year ended in June, the Reserve Bank of Australia marked its bond holdings to market – wiping out all its reserves. The central bank has had to mark the value of its holdings to market, resulting in a A$44.9 billion (US$30.0 billion) valuation loss. Offset by A$8.2 billion (US$5.5 billion) in underlying earnings from the central bank’s holdings, and it is posting a net…

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Economic collapse news: Bank bail-ins and giant homeless encampments

Economic collapse news: Bank bail-ins and giant homeless encampments

This video has been removed from social media, sometimes within 30 minutes. Perhaps there is an important message? Woman robs Beirut bank and walks out with $13,000 of her own money to pay for her sister’s cancer treatment after withdrawal was blocked Sali Hafiz, a 28-year-old activist, said she managed to free around $13,000 Cancer treatment for her sister costs $50,000, she said, after her bank raid She said ‘I did not come to kill anyone or to start a…

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An apocalyptic vision

An apocalyptic vision

Last night Hal Turner posted the following story. I am Back in the New York City area. I had to have a sort of Luca Brasi moment with a couple Banker/Financial types. Monday night, I will tell YOU the “What’s What” about Economic collapse, the Stock / Bond Markets, and World War 3 On the strength of that I decided to listen to his show for tonight. Being somewhat on edge I persevered while it took almost an hour for…

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Pope Francis instructs Vatican entities to move all funds to Vatican bank by Sept. 30

Pope Francis instructs Vatican entities to move all funds to Vatican bank by Sept. 30

Pope Francis has ordered that the Holy See and connected entities move all financial assets to the Institute for Works of Religion (IOR), commonly known as the Vatican bank. The pope’s rescript, issued Aug. 23, clarifies the interpretation of a paragraph in the new constitution of the Roman Curia, Praedicate Evangelium, promulgated in March. According to Francis’ rescript, financial and liquid assets held in banks other than the IOR must be moved to the Vatican bank within 30 days of Sept. 1,…

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A bank run in China

A bank run in China

Chinese Bank Run Turns Violent After Angry Crowd Storms Bank of China Branch Over Frozen Deposits While the world of high, and not so high finance, is obsessing over the volatility of cryptos and recent painful losses for overlevered players who – much to the amazement of plain vanilla equity investors – were not bailed out by a magnanimous Fed (which however only rescues stock markets, not cryptos), things in China with its $54 trillion financial system, or more than…

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Chinese Banks Freeze Billions In Deposits

Chinese Banks Freeze Billions In Deposits

Chinese Banks Freeze Billions In Deposits: Officials Use Health QR Code To Bar Protestors Chinese local banks are freezing deposits. Protestors cannot go near banks as their health app for COVID-19 turns red. Authorities provided no explanation… As The Epoch Times’ Dorothy Li reports, several depositors told The Epoch Times on June 14 that the health code on their COVID-19 app turned red as soon as they scanned venue barcodes at Zhengzhou, the provincial capital city of central China’s Henan Province. A…

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