As the world is now fully aware, The BOJ surprised markets in January when it set a –0.1% rate on some deposits that banks place at the central bank, effective from mid-February. Its move was designed to encourage banks to lend more, spurring higher spending and inflation. Things are not working so well...
And now, as The Wall Street Journal reports, some are already doubting the policy...
Submitted by Claire Bernish via TheAntiMedia.org,
Paralleling the increasingly draconian policies marking a worldwide descent into fascism, are massive protests — born in the Arab Spring, but arguably an angrier, more potent extension of the Occupy movement — indicative of an unprecedented tipping point.
We, the people of this planet, now stand together, gazing over the precipice whose murky depths of State repression demand we ask one imperative question: have we finally had enough?
Banks have been lobbying intensively against Brexit. Among those leading the charge is Goldman Sachs. For three years, the bank’s executives have publicly warned about the downsides of leaving the EU... and now we know why (hint - it's not concern for the common man).
As The Wall Street Journal reports, about a decade ago, Goldman launched project “Armada,” a plan for a hulking European headquarters on the site of an old telephone exchange in London.
In another quiet overnight session, the biggest - and unexpected - macro news was the surprise monetary easing by Singapore which as previously reported moved to a 2008 crisis policy response when it adopted a "zero currency appreciation" stance as a result of its trade-based economy grinding to a halt.