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quote:
This week's biggest news is not the Nonfarm Payrolls, or the European Central Bank or even Portugal's government falling. No - this week's big deal is the openness with which the Federal Reserve is preparing a major margin call on the too-big-to-fail banks in the US.
I think the banks will be ready for it. They shorted gold and with the "mysterious" plunge in gold they can now cover their shorts and rake in lots of profit.
Plus you can bet the Fed will have a window open just for them to borrow at low interest rates "just in case".
Sorry. I think this comment is too funny and also very telling. From OP link. Unfortunately, the cyprus method appears to have come to Canada, soon to be coming to larger EU and here, as well. That doesn't bode well.
commenter quote: flacon
They could confiscate depositor's accounts... you know... the undersevedly "rich" people like small businesses who have cash on hand to pay their employees. "They don't need that cash."
"The Fed unanimously approved the 792-page set of standards" ~ ****, that's like reading the Lord of The Rings novel. Did anyone of importance actually read all seven hundred and ninty two pages, plus the cover and the back page? There is a full colur naked spread of Lindsey Graham in the centerfold page 396 - POSTER.
Oh, Lindsey is a man. Your milage may vary with that photo.
I do not think this report will mean anything to Barnanke after all he has his legend of being the wizard of getting the U S out of recession to uphold. We are in trouble in the long run because Uncle Ben leaves in 2014 and Obama will pick Yellen as his replacement, You know to make history as the first woman to head up the FR. And she will keep the party going.
It is not by accident that the model is adjusting. The fact that the entire western world is basically going from bail-out to bail-in is worth taking note of. Looks to be more sacrificial lambs on the way.
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