Two weeks ago Bank of America caused a stir when it calculated that central banks (mostly the ECB & BoJ) have bought $1 trillion of financial assets just in the first four months of 2017, which amounts to $3.6 trillion annualized, "the largest CB buying on record."
The following is an excerpt from David Enrich's nonfiction financial and legal thriller The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History. (Read part of the prologue here; another excerpt can be found here) This excerpt takes place shortly after the accused mastermind of the Libor scandal, Tom Hayes, is fired from his job at Citigroup, kicking government investigations into interest-rate-rigging into a higher gear.
Authored by Chris Rossini via The Mises Institute,
Ever since the US government began to sink its claws into the medical industry a good 50 or so years ago, attempts at reducing costs have failed again and again. This is par for the course whenever government invades an industry.
Trying to reform this Frankenstein with either Obamacare, or Trumpcare, will solve nothing.
The problem is structural. Tinkering with this or that will just waste more time.
Authored by Simon Black via SovereignMan.com,
This week, the world of banking and finance waited with baited breath for the Federal Reserve in the United States to hike… or not to hike… interest rates.
This happens several times each year as the central bank’s Federal Open Market Committee gathers to set monetary policy in the Land of the Free.
To be clear, there is no greater power over a nation than having control of its money supply and interest rates.
After 9 gigabytes of Macron-linked documents and emails were released on an anonymous pastebin website on Friday afternoon in what Macron's campaign said was a "massive and coordinated" hacking attack, France - fearing a similar response to what happened with Hillary Clinton after 35,000 John Podesta emails were released one month before the US presidential election - cracked down on the distribution of the files, warning on Saturday it would be a "criminal offense" to republish the data, and warning the French media not to publish content from any of the hacked emails "to prevent the outco