“The financial system is complex and it’s convoluted, it’s designed to keep you from understanding the truth, and why is it this way? because it was built like that. If you read “The Creature from Jekyll Island” you’re gonna know some of the parts and the pieces of this puzzle. If you look at what happened back in 1929 and what led up into the 30s you’re going to get another piece of the puzzle. If you look back even further back at the development of the financial system as it is today, you’re going to get more pieces of the puzzle, and all of that will explain what we are seeing today. The most recent example of that puzzle is highlighted by Frank Partnoy in his book “Infectuous Greed” who I have talked about many times before, (I believe the link is in the description of this video). But regardless you see it over and over and over again, they enrich themselves and they keep it from ever ending up in the hands of you and I.
Right now today as I talked about with Italy it happened with Spain, the assets of the people are being sold off for pennies on the dollar. You might think it’s okay, you might not realize the depth of this but understand that what we are seeing right now, is definitely worrisome.”
German Inflation Further Below Zero Bolsters Stimulus Case – Bloomberg
Germany Says EU’s Massive Stimulus Package at Risk of Stalling – Bloomberg
Bailey Says BOE Hasn’t Yet Reached a Judgment on Negative Rates – Bloomberg
Property investment – Britain’s coming commercial property slump | Britain | The Economist
A MONG THE assets that adorn the queen’s property portfolio are 17 provincial shopping and leisure centres. On September 18th Crown Estates, which manages the monarch’s portfolio, wrote down their value by 17%, cutting Her Majesty’s net worth by £552.5m ($700m).
Policy Makers Should Be Able to Lift Rates: Dallas Fed President Robert Kaplan – Bloomberg
Federal Reserve Bank of San Francisco | Commercial Banks under Persistent Negative Rates
Do extended periods of negative policy interest rates continue to encourage commercial bank lending? A large panel of European and Japanese banks provides evidence on the impact of negative rates over different lengths of time.
Queen to receive government ‘bailout’ to top up income after Crown Estate hit by economic slump | The Independent
Boris Johnson’s government has confirmed it will top up the Queen’s income following a significant slump in the Crown Estate ‘s revenue during the coronavirus crisis. The royal family takes in rental receipts from shops in London’s Regent Street, alongside malls and retail parks around the country – but the value of its portfolio has fallen by more than £500m since the pandemic hit.
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Where does money come from? Where does it go? Who makes it? The money magicians’ secrets are unveiled. We get a close look at their mirrors and smoke machines, their pulleys, cogs, and wheels that create the grand illusion called money. A dry and boring subject? Just wait! You’ll be hooked in five minutes. Reads like a detective story – which it really is. But it’s all true. This book is about the most blatant scam of all history. It’s all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Creature from Jekyll Island is a “must read.” Your world view will definitely change. You’ll never trust a politician again – or a banker.
As the global financial crisis unfolds people everywhere are seeking to understand how markets devolved to this perilous, volatile state. In this dazzling and meticulously researched work of financial history, first published in 2003, and now thoroughly revised and updated, law professor and financial expert Frank Partnoy tells the story of how “classical” Wall Street securities like stocks and bonds were quietly eclipsed by ever more “quantum” products like derivatives. He documents how, starting in the mid-1980s, each new level of financial risk and complexity obscured the sickness of corporate America, and how Wall Street’s evolving paradigm moved farther and farther beyond the understanding—and regulation—of ordinary investors and government overseers, leading inevitably to disaster.
The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.
Interest rates have been very low for years and now the discussion has been about reducing them even further as many have decided to go into the negative. Many banks and financial companies find it difficult to operate in this environment. Other companies are able to borrow massive quantities of debt.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.