Reuters.com – Cyprus readies capital controls to avert bank run Cyprus is finalising capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders.Cypriots have taken to the streets of Nicosia in their thousands to protest against… Continue reading Cyprus
Spiegel (Germany) – Suspicious Transactions: Cypriot Parliament Investigating Capital Flight Banks have been closed and accounts frozen in Cyprus recently. Nevertheless, large amounts were moved out of the country’s crippled financial institutions on the eve of the bailout package. Lawmakers are suspicious and are investigating both the government and the Cypriot central bank. Most of… Continue reading More On Russian Money Getting Out Of Cyprus Last Week
<Click on chart for larger image> Bloomberg.com – Home Value Highest Since ’07 as U.S. Houses Make Cash More American homeowners will be able to use their properties as cash machines again after real estate equity jumped last year by the most in 65 years. About $6.5 trillion of residential real estate value evaporated after… Continue reading Home Prices Continue To Rise
Comment Around 8 minutes into this video is a segment titled “super-bearish on bonds.”
MarketWatch.com – Is market timing dead? Commentary: What the market timing popularity cycle is telling us Be on your guard in coming weeks for declarations that market timing is dead. That would be a warning sign that a market top may be imminent. That’s because market timing goes in and out of popularity according to… Continue reading Where Are The Market Timers?
The New York Times – JPMorgan Chase Faces Full-Court Press of Federal Investigations As the nation’s strongest bank, JPMorgan Chase used to be known for carrying special sway with regulators. Now it increasingly finds itself in the cross hairs of federal authorities. At least two board members are worried about the mounting problems, and some… Continue reading Regulators vs. Banks
The Financial Times – Global pool of triple A status shrinks 60% The global pool of government bonds with triple A status from the three main rating agencies, the bedrock of the financial system, has shrunk more than 60 per cent since the financial crisis triggered a wave of downgrades across the advanced economies. The… Continue reading Disappearing Triple A Bonds
The Telegraph – Mr Yen cautions on Japan’s ‘unsafe’ debt trajectory “A debt ratio of 245pc of GDP is not really safe, and it is not happening because we are investing,” said Takehiko Nakao, Japan’s ‘Mr Yen’ or vice finance minister in charge of the exchange rate. Mr Nakao said the scope for further fiscal… Continue reading Japan
Bloomberg.com – A Gary Shilling: The Five Ways Deflation Has Already Taken Hold Of the seven varieties of deflation, five are already at work in the U.S. economy. Commodity Deflation: In 2009 and 2010, the increases in commodity prices revived memories of the 1970s inflation spiral that resulted from the earlier mushrooming costs of the… Continue reading Deflation Talk
The New York Sun – A Run on the Fed The Federal Reserve itself is fighting against a plan of the House of Representatives to require an audit of the central bank. After a decade of resistance, an audit bill passed the House last year by an overwhelming, bi-partisan vote — only to get stalled… Continue reading A Run On The Federal Reserve?
None Today
Comment Jim Bianco was on CNBC on Monday discussing Cyprus and the markets. To view the interview click on the image above. To view any of our recent interviews click here. In the interview Jim noted the crisis in Cyprus is not over until the banks reopen and depositors are not rushing to get their… Continue reading Is Cyprus Fixed?