Archives for: ECB

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Mitch Feierstein Warns of Coming Financial Collapse

by Mitch Feierstein about 2 months 3 days ago

Chris Menon interviews the author of the best-selling Planet Ponzi on the housing bubble, market manipulation, gold and the subversion of democracy Monday, 16 June 2014 at 09:49 Chris Menon: In Planet Ponzi you’ve written about the huge debt bubble that was created over the past 30 years. For those who haven’t read your book, how [...]

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We must take a stand against lies, damned lies and statistical data

by Mitch Feierstein about 8 months 1 week ago

Last week, a brave police constable told a startled Parliamentary select committee that crime statistics were being artificially manipulated to keep recorded crime on its downward path. In one remarkable exchange, the committee’s chair, Bernard Jenkin, asked: “This [the police process] would finish up with trying to persuade a victim that they weren’t raped, for [...]

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We put out one fire but now Mark Carney wants to start another

by Mitch Feierstein about 9 months 2 weeks ago

Mervyn King’s decade at the Bank of England was a disaster. The Bank was too slack during the long and indisciplined boom, under prepared for the crash and playing catch-up thereafter. The legacy of Lord King’s (and Gordon Brown’s) career has been an economy still limping along far below peak output, real wages caught in [...]

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The dual mandate of the Federal Reserve is a good one. It is charged with ensuring stable prices and maximum employment. That’s a good basic recipe, one which served the country well. And notice what isn’t there. The Fed is not charged with distorting natural market pricing mechanisms to the point of perverting risk. It [...]

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Obama’s an accomplished individual. Smart, cool, in control. But his standout quality is probably his ability to create euphoria. Create it, sustain it, ride it. Watch the people celebrating with him at his victory rally in Chicago and you could easily believe that the USA had just won a war or beaten a recession. Unfortunately for [...]

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WE ARE A NATION OF LIONS LED BY DONKEYS IN THIS ECONOMIC TRENCH WARFARE

by Mitch Feierstein about 1 year 10 months ago

A hundred years ago, a generation of men – many of them volunteers – fought an unprecedently bloody war for almost invisible gains. The men were heroes, but the generals commanding them were too often blunderers, too little conscious of the ever-mounting casualties. David Cameron is right to demand that our schoolchildren are reminded of [...]

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  Last week, the Bank of England declared its intention to print another £50 billion. Hardly anyone noticed. That £50 billion will bring the Bank’s total money printing to around £425 billion, or about one quarter of British GDP. No one cares. This evening, the U.S. Federal Reserve will announce its own plans for another [...]

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Solution? Business secretary Vince Cable has said he wants to nationalise the 18pc of RBS that isn’t already owned by the taxpayer Vince Cable wants to nationalise RBS. You can see his logic. The taxpayer owns 82% of the firm already. Nationalisation is hardly such a radical idea; it’s more the logical completion of a [...]

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Another day, another banking scandal. Barclays’ LIBOR cheats exploited an arcane and out-dated rate-setting mechanism to fix rates in their favour – which means to your detriment. But just ripping off ordinary people and ordinary investors doesn’t win many points in the Bankster’s Cheat Olympics. If you really want to shoot for those medal places, [...]

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Those financial forecasters, like myself, who take a generally dark view of world affairs are known by a number of monikers: prophets of doom, killjoys, pessimists, Cassandras. And that last one is interesting. Cassandra, in ancient Greek myth, was the daughter of King Priam of Troy. After Helen, she was considered the most beautiful woman [...]

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