17 July, 2015 by The TZ Newswire Staff Comments Off on China breaks 6-year silence on gold reserves
China breaks 6-year silence on gold reserves
China ended years of speculation about its gold holdings by revealing an almost 60 percent jump in its reserves since 2009, as the FT reports.
17 July, 2015 by The TZ Newswire Staff Comments Off on A Ratio Worth Respecting
A Ratio Worth Respecting
From the Slope of Hope: Two months ago, I did a piece called A Fascinating Ratio, which suggested that a major reversal was coming once the ratio reached about 2.0. At the time I did the post in mid-May, the ratio was a little under 1.8, but thanks to the unflagging strength of equities, as well as the unwavering suckiness of precious metals, this ratio is up to 1.95.
17 July, 2015 by The TZ Newswire Staff Comments Off on JPMorgan reaches $388 million settlement in mortgage securities case
JPMorgan reaches $388 million settlement in mortgage securities case
The lawsuit, brought by Fort Worth Employees’ Retirement Fund and other investors in offerings made before the 2008 financial crisis, accused JPMorgan of misleading them about the underwriting, appraisals and credit quality of the home loans underlying the certificates. The lawsuit said that after Lehman Brothers Holdings Inc failed, the certificates were worth at most 62 cents on the dollar.
17 July, 2015 by The TZ Newswire Staff Comments Off on Regulators to seek penalty on Toshiba for false accounting: Nikkei
Regulators to seek penalty on Toshiba for false accounting: Nikkei
Japan’s financial watchdog plans to seek a financial penalty on Toshiba Corp , currently being investigated by an independent committee over accounting irregularities, the Nikkei reported on Saturday. The Securities and Exchange Surveillance Commission (SESC) believes the company falsified financial statements and will recommend as early as September that the Financial Services Agency impose a fine, the business daily said, citing sources. An SESC spokesman declined to comment, while Toshiba officials were not immediately available for comment.
17 July, 2015 by The TZ Newswire Staff Comments Off on An "Austrian" Economist’s Advice For Greece & The EU
An "Austrian" Economist’s Advice For Greece & The EU
Submitted by Dr. Richard Ebeling via The Cobden Centre,
For months, now, the mass media and the financial markets have anxiously watched and waited to see the outcome of a war of words, accusations, and threats that have been fought between Greece and its Eurozone and European Union partners.
17 July, 2015 by The TZ Newswire Staff Comments Off on Blankfein Joins The Billionaire Bankers’ Club
Blankfein Joins The Billionaire Bankers’ Club
One thing that has become abundantly clear after seven years of global QE is that the trickle-down “wealth effect” is a myth.
At the macro level, lackluster global demand betrays the failure of central bank policy to engineer a robust recovery. At the micro level, the growing wealth divide is proof of what should have been self evident even to a PhD economist: policies explicitly designed to inflate the assets most likely to be held by the wealthy will likely serve to exacerbate the disparity been the haves and the have nots.
17 July, 2015 by The TZ Newswire Staff Comments Off on Donald Trump The Demagogue
Donald Trump The Demagogue
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
It’s not too interesting to say that Donald Trump is a nationalist and aspiring despot who is manipulating bourgeois resentment, nativism, and ignorance to feed his power lust. It’s uninteresting because it is obviously true. It’s so true that stating it sounds more like an observation than a criticism.