Loading ...Montana Rail Link’s ‘Silver Sky’
rolling through big sky country.
http://www.railpictures.net/viewphoto.php?id=505586
Silver Train
Academics are now waking up to fact that QE is causing, not fighting ‘deflation’
So QE-infinity is done. Many and long will be the arguments about whether quantitative easing helped the U.S. economy, and what the costs were — or will be. Most of those arguments will be between those who think quantitative easing just doesn’t get much traction in the economy and those who think that it has a big effect.
But what if QE had the opposite of the intended effect? That is the claim of a small but well-credentialed group of macroeconomists that I once labeled the “Neo-Fisherites,” after the famous monetary economist Irving Fisher. These economists wonder if quantitative easing reduced inflation, instead of increasing it as many feared it would. The Neo-Fisherites go even further than that — they wonder if low interest rates, which we usually think of as being inflationary, are actually deflationary!
It sounds crazy. How could creating money lower the value of money in the long run? read more
UBS Precious Metals Misconduct Found by Finma in FX Probe
Switzerland’s regulator found “serious misconduct” by UBS AG (UBSN)employees in precious metals trading, particularly with silver, as part of its review of the bank’s foreign-exchange business.
Electronic chats played a “key” role in the improper conduct in foreign exchange and precious metals trading, the Swiss Financial Market Supervisory Authority, or Finma, said in a statement today. It found front running, when traders profit from advance knowledge about a transaction expected to influence prices, over client orders for silver.
The Swiss regulator and those in the U.S. and U.K. ordered UBS and four other banks to pay about $3.3 billion to settle a probe into the rigging of foreign-exchange rates. Precious metals fixings, price-setting rituals dating back a century for gold and silver, were overhauled this year as scrutiny increased on how market benchmarks are set. Barclays Plc was fined in May after a trader sought to influence the gold fix in 2012. read more
again why should regulators get to keep the cash….eff them sleeping on the job
kick people’s arses who set on the governing boards. Time to put people against a wall and fire away
Five banks have agreed to pay $3.38 billion in fines to global regulators to resolve allegations that they attempted to manipulate foreign exchange rates.
Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS)and UBS (UBS) will collectively pay $1.4 billion to the U.S. Commodity Futures Trading Commission and about £1.1 billion ($1.75 billion) to the U.K.’s Financial Conduct Authority. UBS will also make a payment in Switzerland. Read more
Macmonroe
Try done GOOD under the circumstances many times impossible to the faint of heart. Always remember never forget. It wasn’t these cowardly politicians watching your Ask it was them.
To all those veterans past and present, sorry that you were part of Humanity’s Paradox.
Good people done bad.
To finish off, something recent, complete with Chinese falling knives…
Be careful what you wish for..
Then there is the soon to be extinct Cars..
Notice the wanker banker dead after jumping from the JPM building by the pool, ressurected by the dancing FSA…oh and Uncle Sam the reaching dufus
edit; it appears Ric Ocasek will be your next Prez, he can walk on water too…
Does Billary know?