Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount

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Italian bank stocks are crashing (with BMPS down 40% year-to-date) as Reuters reports that investors are growing increasingly nervous about how the sector will cope with lower interest rates and a 200 billion euro ($218 billion) pile of loans that are unlikely to be repaid. The broad banking sector is down 4% with stocks suspended, and in light of this bloodbath, Italian regulators have decided in their wisdom, to ban short-selling of some bank stocks (which has driven hedgers into the CDS market, spking BMPS credit risk). Continue reading

BIS Warns of ‘Major Faultlines’ In Global Debt Bubble

– BIS warns “unrealistic and dangerous to expect that monetary policy can cure all the global economy’s ills”

– Bank of International Settlements warns that recent turmoil is not caused by isolated incidents

– Debt levels are now so extreme they threaten the financial system

– Ultra low rates have led to mal-investment and bigger boom/bust cycles

– Emerging markets vulnerable to deeper crises

– ECB easy money may juice markets for a while but reckoning is coming

– BIS acknowledge that central banks rig markets

– Gold and silver protect against crises in financial system

In a stark warning, the Bank for International Settlements (BIS), the central bank of central banks, has said in its quarterly report that the turmoil that has shaken global stock markets in recent weeks showed how developed and emerging markets were exposed to the unwinding of financial vulnerabilities built up since the 2008 crisis. Continue reading

Setting the Stage for the One World Currency

We can start to see how the one-world currency comes into play with BIG BANG. The more these governments try to manipulate the outcome of the free markets, the worse everything becomes. I met with members of the board in charge of the Swiss/Euro Peg just before the Berlin Conference. I explained that no peg has ever lasted and Bretton Woods stands as witness to that in recent memory no less the Pound/DMark Peg that made George Soros famous. Pegs only suppress the free market, they cannot prevent the eventual outcome. Continue reading

How Financial Warfare Could Bring America to Its Knees

As was mentioned here over a week ago, businessmen carry on as if tomorrow will always be the same as today and that nothing bad can happen, yet it is not necessarily their fault because their of their chosen profession — one that is different from those that specialize in espionage or financial warfare. Either way, a complete lack of awareness is a huge national security issue.

One country, Russia or the United States, is de-linking itself from vulnerabilities and going into war prepared while the other is not and exposing its Achilles heel with a ‘kick me’ sign taped to its back. Can you guess which is which?

You only need to follow this site or other similar ones keeping atop of developments like this for a week to draw your own conclusions.

Please see the source link for the video.

 

Financial warfare is coming to the fore. It’s something that’s been talked about for some years, but now it’s actually being played out and practiced. Since 2012 the United States has been in a financial war with Iran. It’s not a shooting war, we’re not invading Iran, but because of their nuclear ambitions, the U.S. has tried to isolate Iran. We kicked them out of the dollar payment system so Iran could not transact in dollars. They said, well who cares, we’ll just transact in Euros or Yen or other currencies.

There’s another financial war brewing right now, which is with Russia around Crimea. Russia of course invaded Crimea. No one – left, right or center thinks the U.S. should use military force in Crimea. We’re not sending the 82nd Airborne into Sevastopol anytime soon, but the U.S. doesn’t want to be seen to be doing nothing, and so we’re engaging in economic sanctions, which is a form of financial warfare.

There’s a big difference, however, between confronting Russia and confronting Iran. Russia has a much greater ability to strike back — and just to show how this could escalate, so we put sanctions on, you know, some mid level bureaucrats, who cares, that’s no big deal.

Continue reading