Tag Archives: White Shoe Boys

Israel Names Chairman of JPMorgan Chase International the New Central Bank Chief

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“Jacob Frenkel, 70, also serves as Chairman and CEO of the Group of Thirty (G-30).  He is also  a member of the Trilateral Commission, a member of the board of the Council for the United States and Italy, a member of the Investment Advisory Council of the Prime Minister of Turkey, and a member of the International Advisory Council of the China Development Bank.  Between 1973 and 1987 he was on the faculty of the University of Chicago where he held the position of the David Rockefeller Professor of International Economics. Frenkel served from 2004 to 2009 as vice chairman of US bailed out American International Group (AIG).”

http://www.economicpolicyjournal.com/2013/06/israel-names-chairman-of-jpmorgan-chase.html

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Conference Board Fears Front Running Ahead of Its Economic Data; 250 Millisecond Edge

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“The Conference Board will no longer provide its economic reports in advance to news organizations because it suspects the data is being diverted early to computer-driven trading systems, reports AP.  The private research group has provided its monthly data to reporters 30 minutes before the information is publicly released. The early access to the data has allowed journalists to prepare news reports ahead of the information’s public release at 10 a.m. Eastern time.  Starting Tuesday, the Conference Board’s data will be released to everyone simultaneously.”

http://www.economicpolicyjournal.com/2013/06/conference-board-fears-front-running.html

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CME Hikes Gold Margins By 25%

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“How very unexpected. And how, judging by today’s massive selloff, it is almost as if someone knew in advance this would happen. Can JPMorgan just restock its vault with whatever gold it needs to meet its massive delivery demands (at three year low prices) so some normalcy can return to the market?”

http://www.zerohedge.com/news/2013-06-20/cme-hikes-gold-margins-25

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Former ‘Plunge Protection Team’ Official: Expect More Government Theft

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“Look, we are in a world where every major industrialized government doesn’t have the funds to deliver on the promises they’ve made to the public.  So they are going to reach for the public’s cash in different ways….Some of it is through higher taxes.  Some of it is what I would call ‘expropriation,’ although taxation and even inflation are a version of that.  I think what we saw in Cyprus, a really overt expropriation, we are going to see that come in lots of different forms (going forward).  Some of it will be obvious like Cyprus.  Some of it will be subtle like Portugal, but what’s sure is that it’s happening.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/8_Former_White_House_Official_-_Expect_More_Government_Theft.html

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/6/8_Dr._Philippa_Malmgren_files/Phillipa%20Malmgren%206%3A8%3A2013.mp3

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Margin Debt Hits Record High

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“Investors ramped up their borrowing against brokerage accounts in April, taking margin debt to its highest-ever level. Investors borrowed $384.4 billion against their investments in April, a 1.3% gain from the previous month, and a 29% rise from the same month last year, according to the New York Stock Exchange. The rising level of debt is seen as a measure of investor confidence, as investors are more willing to take out debt against investments when shares are rising and they have more value in their portfolios to borrow against. The latest rise has been fueled by low interest rates and a 15% year-to-date stock-market rally.”

http://blogs.wsj.com/moneybeat/2013/05/24/margin-debt-hits-record-high/

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World Bank Insider Blows Whistle on Corruption, Federal Reserve

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“A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview withThe New American, Hudes said that when she tried to blow the whistle on multiple problems at the World Bank, she was fired for her efforts. Now, along with a network of fellow whistleblowers, Hudes is determined to expose and end the corruption. And she is confident of success.”

http://thenewamerican.com/economy/economics/item/15473-world-bank-insider-blows-whistle-on-corruption-federal-reserve

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Understanding Gold Market Dynamics

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“While the big institutions are driven by momentum into gold, they also relied on fears related to inflation and economic uncertainty. However, many have now abandoned these concerns. In reaching its bearish conclusion on gold, Goldman Sachs cited low global inflation, and surging equity markets in the U.S. and Japan as reasons to believe that the bull run in gold had come and gone. However, their conclusions are hasty.”

http://www.europac.net/commentaries/understanding_gold_market_dynamics

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Europe Opens $80 Trillion Shadow Banking Pandora’s Box: Will Seek To Collapse Repo “Collateral Chains”

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“Banks and brokers face a clampdown on using assets they hold for clients as collateral for their own trades as part of European Union moves to bolster market stability and rein in shadow banking.  The handing over of collateral is an integral part of repurchase agreements, or repos — one of the activities under review by global regulators as part of their efforts to regulate shadow banking. The reuse of clients’ assets poses a potential threat to financial stability should one of a chain of firms that handled the securities go bankrupt, according to the document prepared by commission officials and dated May 15.”

http://www.zerohedge.com/news/2013-05-24/europe-opens-80-trillion-shadow-banking-pandoras-box-will-seek-collapse-collateral-c

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Schizophrenic investors expect slump, bet on boom

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“Some 57pc think there will be no escape from the ‘twilight’ conditions afflicting the western world, and 20pc expect an full-blown global recession. That is a remarkably bearish set of views. Yet the same investors are overwhelmingly bullish on stocks and property. This schizophrenic exuberance seems entirely based on the assumption that QE and central bank largesse will keep the game going, flooding asset markets with liquidity. Indeed, 80pc think the ECB will cut rates again, and half think it will have to swallow its pride and join the QE club in the end. Four fifths think equities will gallop on upwards over the next year. Complacency is rife.”

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100024618/schizophrenic-investors-expect-slump-bet-on-boom/

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What If Stocks, Bonds and Housing All Go Down Together?

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“In the past, central banks were pleased to inflate one bubble at a time, enabling money both smart and dumb to flee one smoking ruin and get busy inflating the next bubble-ready asset class.  But now, thanks to essentially unlimited liquidity and credit, the central banks have inflated three bubbles at the same time: stocks, bonds and housing. That raises an interesting question: what if all these bubbles pop in unison? Will the central banks be able to place a bid under all three markets simultaneously? If so, where will all that freed-up cash go next?”

http://charleshughsmith.blogspot.com/2013/05/what-if-stocks-bonds-and-housing-all-go.html

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