Eurozone Crisis: ECB’s ‘Back Door Quantitative Easing’ Lifts Markets

European Central Bank

European Central Bank (Photo credit: kumbarov)

With borrowing comes responsibi­lity or so the story goes because this story gets more like a pantomime everyday. You can make your own mind up to which one and who plays certain characters but now we have a benefactor good olde ECB and what have they offered this Christmast­ide well money of course, well they are a bank. But not just any bank but the bank of last resort and what does the one in [drag-hi] do but buy up all the debt of other countries.

Now we should all be saying well done but instead we are saying he`s behind you and his name is not Abanazar, but something much worse the ” Ghost of Christmas Of Yet To Come ” namely a huge ” Debt Mountain ” but in the meantime people will still dress up and act out the pantomime until the very last act.

The it will be CURTAIN`S
Read the Article at HuffingtonPost

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Bank Of England May Print More Money In 2012


OK now we want or may borrow ourselves out of debt, sorry wrong statement we borrow ourselves into debt by borrowing our own debt. But first we have to pretty it up and like a Christmas present on Christmas morning and present it to the people, funny how present as in giving and present as in providing are the same spelling. They have different meanings but are used in different ways to shows us the error of our ways.

As in this government gives us a present of quantitati­ve easing and then convinces us to keep on buying more this Christmas to keep the wolf of debt away from their door and by presenting it in a very special way,by covering up the true facts.
It then leads us into more debt,in this misguided belief that they know what they are doing.

Revelation Number 2 – They do not and it is your taxes that will eventually rise to pay for them not knowing what they are doing.
Read the Article at HuffingtonPost

The New Blue Collar: Temporary Work, Lasting Poverty And The American Warehouse


When one door closes another opens they say, but not such a good thing for these people. This is the case of massive retailers keeping their profits high whilst the people that provide their sweated labor get less. Then the bigger they become the more services they can grab for themselves by adding to their retail, warehousin­g, logistics, credit provision and other similar services.
If you complain there are plenty more fish in the sea of the ever increasing labor force and so they become unable to speak out and caught up between the devil and the very deep blue sea, of no home and unable to pay their bills.
Read the Article at HuffingtonPost

Bank Of America To Lose Most From Overdraft Fee Rules: Report


A new rule that requires banks get consent before charging customers overdraft fees will cost BofA $3.3 billion per year, compared to the $1.4 billion that Wells Fargo will lose per year and the $1.077 billion JPMorgan Chase stands to lose, the research note finds.

This is the best bit of the post and the statement by Brian Moynihan that banks are entitled to make a profit is the iceing on the cake. My reply is and the public are entitled too receiving from banks, good honest investment advice geared to them making money first and the bank last.

Revelation is is THEIR MONEY not your`s BOFA and others.
Read the Article at HuffingtonPost

Public Sector Borrowing In Surprise Fall To Â£18.1bn


Many years ago when l first joined the finance industry with expectatio­ns of my future being assured by providing well balance products aimed at providing the family man with protection for his future, little did l know that in the year 2011 we would be edging ever closer to ruin.
This comment based on figures that have been manipulate­d ,adjusted and renamed shows just how far this country has NOT come. The mere fact that Osborne is congratula­ting himself for achieving a small and far from insignific­ant reduction in the public sector borrowing confirms this fear.
But then to state that the government­s debt rose to a fresh figure of £977.1 billion which is 62.8% of GDP what does the Treasury spokesman say ” today`s figures show that the government is making good progress on deficit reduction”­. What! reduction? DEBT`s rose we borrowed MORE and by my calculatio­n debt rising is not good progress.
This is not good this is bad really bad and one day very very soon these so-called chancellor­s will stop playing politics and wake up the real world of this nation and many others are seriously in debt and we are drowning and nobody is even aware we need a life jacket.
Read the Article at HuffingtonPost

Vince Cable, Business Secretary, Tells Bankers To Stop Whingeing


The problem with trying to get bankers to fall into line is that throughout the financial services industry ,exists systemic greed. It is not that only a few have become corrupt it is the whole of the system of economics in its present form. To eradicate corruption we need a systemic weed killer and someone brave enough to use it, take a look at the structure of people in charge and l cannot hand on my heart see anyone l would choose that cannot be corrupted.

But my question is what is the price of all this corruption in the end ?
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Eurozone Crisis: Bank Of England Prepares To Support UK Banks In Event Of Collapse


This is still the blind leading the blind as we edge ever closer to the precipice of greater debt. I understand that Charlie Bean must provide reassuranc­e. Also try to get us to believe that we should spend and support all the companies, that have sponsored the Olympics to get their money back and make huge profits ,this is standard rhetoric.
But to claim that they will support British Banks and then to add insult to injury apply another round of quantitati­ve easing is both foolhardy and cavalier to say the least, as previous efforts have not worked and neither will they. As they are designed to create a vehicle [namely a bond] to provide a way to buy back their own money, this just putting off the fateful day when Britain has to pay the piper [ namely its debts ] and not keeping playing the same old tune of [ borrowing and lending more] to banks.
Read the Article at HuffingtonPost