Europe

By Chris at www.CapitalistExploits.at

Today we discuss the largest wholesale funding market in the world, the eurodollar market, and how its "normal" form of functioning has dramatically changed, causing all manner of problems in the global economy. 

In last week's post we discussed shadow banking at its finest: the eurodollar market. It was the precursor to this article and so if you've not read it then it'll be useful to do so here before reading this article.

Source: Japantimes

15 Billion Euro. That’s the magical (and real) number the Italian bank Banca de Monte Paschi has to be worried about. 15 Billion Euro is the approximate amount its customers have withdrawn from their bank accounts since January.

Submitted by Giulio Meotti via The Gatestone Institute,

With the ECB snubbing Italy on Friday, and refusing to grant insolvent bank Monte Paschi more time to find a financial rescue, it was of paramount urgency for Italy to announce a replacement government that of outgoing prime minister Matteo Renzi, in order to mitigate concerns about the ongoing political chaos.  As a result, on Sunday, Italy’s President Sergio Mattarella asked departing Foreign Minister Paolo Gentiloni - a loyalist from Renzi's Democratic Party - to form a new government, in the process hopefully bringing to a close a political crisis triggered by a ‘no vote’ in a referendu

One of the largest child sex abuse cases in modern history uncovered by Norwegian police has been shamelessly ignored and covered up by Western media outlets. The year-long investigation named “Operation Darkroom,” has so far resulted in the seizure of 150 terabytes of child porn involving young children and babies, with top politicians, lawyers and authorities implicated in the scandal. Amid the rush to cover-up the pizzagate scandal in the West, media outlets have conducted a co-ordinated coverup of the Norwegian case by refusing to publish any details of it in their newspapers.