white_goodman
BOC
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Ze Germans aren't happy it would seem - article quoting Germany's Finance Minister Peer Steinbrueck.
http://www.marketwatch.com/news/sto...-BC7E-4178-9BFE-F9A8C897D209&dist=SecMostRead
Two things that struck me about the article -
1. Herr Steinbrueck believes that the US will lose it's status as 'superpower of the global financial system' via the death by a 1000 cuts it is enduring at the moment (presumably to be replaced by those sensible Germans -oh the irony); and
2. I know how senstive the shorters are to any overt criticism of their trading system, so I note that I am quoting the journo who has paraphrased the good minister; here it is-
' The finance minister said he would push for a global ban on speculative short selling and would use next month's meeting of the Group of Seven finance ministers and central bankers in Washington to press for new rules that would prevent banks from fully securitizing loans and selling them to third parties. '
So it would seem that ze Germans ain't that keen anymore on 'speculative' short selling (I'm guessing this is directed at hedge funds) and securitisation! Would have thought you just need to temper securitisation of leveraged mortgages to get the desired effect but then again my name is not Herr Steinbrueck.
Ze Germans aren't happy it would seem - article quoting Germany's Finance Minister Peer Steinbrueck.
http://www.marketwatch.com/news/sto...-BC7E-4178-9BFE-F9A8C897D209&dist=SecMostRead
Two things that struck me about the article -
1. Herr Steinbrueck believes that the US will lose it's status as 'superpower of the global financial system' via the death by a 1000 cuts it is enduring at the moment (presumably to be replaced by those sensible Germans -oh the irony); and
2. I know how sensitive the shorters are to any overt criticism of their trading system, so I note that I am quoting the journo who has paraphrased the good minister; here it is-
' The finance minister said he would push for a global ban on speculative short selling and would use next month's meeting of the Group of Seven finance ministers and central bankers in Washington to press for new rules that would prevent banks from fully securitizing loans and selling them to third parties. '
So it would seem that ze Germans ain't that keen anymore on 'speculative' short selling (I'm guessing this is directed at hedge funds) and securitisation! Would have thought you just need to temper securitisation of leveraged mortgages to get the desired effect but then again my name is not Herr Steinbrueck.
How much do you think the push to 'get the deal done' because of the election?
WaMU, just gone bust. Biggest bank so far.
Bought by JPM who are the Feds consolidator, and who have had more money from the Fed under the table than anyone else, already 100s of billions.
Art imitates life...?Ron Paul was great ... bernanke was like something out of a scary NWO movie.
Ron Paul always stands up and give's Bernanke a serve. He even mentions the constitution, maybe the guys that wrote it might have known something back then.
I note that he often gives Mises and the Austrian school a plug in his speeches. This will not endear him to the current batch of economists who have been indoctrinated to disregard the Austrian school... even though the modern schools are a load of bollox and failing us.I think it's a tragedy that you have someone like Ron Paul, who understands economics, understands the problems with the Federal Reserve and can see where they are headed, yet you know, that 99% of the other elected officals in the room have little to no understanding to what he's on about and are probably saying to themsleves, not that nutjob Ron Paul prattling on about the constitution and the Federal Reserve again. Sad really.
I note that he often gives Mises and the Austrian school a plug in his speeches. This will not endear him to the current batch of economists who have been indoctrinated to disregard the Austrian school... even though the modern schools are a load of bollox and failing us.
Infuriating really.
Ron Paul always stands up and give's Bernanke a serve. He even mentions the constitution, maybe the guys that wrote it might have known something back then.
I think it's a tragedy that you have someone like Ron Paul, who understands economics, understands the problems with the Federal Reserve and can see where they are headed, yet you know, that 99% of the other elected officals in the room have little to no understanding to what he's on about and are probably saying to themsleves, not that nutjob Ron Paul prattling on about the constitution and the Federal Reserve again. Sad really.
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