Monty Pelerin's World

Economic, Financial and Political Analysis

Tag archives for Bank

What A Brilliant Idea: Confiscate 10% of Bank Accounts

Reuters reported the following: In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece. The decision, announced on Saturday morning, [...]

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How Europe Ends

The economic crisis around the world is worsening. The US economy shows no signs of recovering. With the fiscal cliff of tax increases coming in January, why should anyone expect it to. The imposition of a tax increase is not when the deleterious effects occur. They occur with the expectation of the increase. People alter [...]

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Unemployment, Real vs. “Official”

pinnochio

The true level of unemployment is being understated, just as other government statistics are being manipulated to present a more favorable picture for the political class. Matters appear to be getting so disgraceful that even financial wards of the State feel compelled to criticize the practice. Here is Doug Ross’ article on Bank of America’s [...]

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European Bank Situation

Rick Moran at American Thinker places the European condition in perspective: Euro zone banks near collapse Rick Moran The recently completed summit of EU leaders came up with a solution of sorts to deal with the sovereign debt crisis. But what it didn’t address was the growing crisis over credit access for european banks. The Telegraph: The European [...]

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The Outrageous Federal Reserve

This article from Unelected.Org should get your blood pressure up. If you have a problem in this area, perhaps you should not read it. Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts unelected.org The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months [...]

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