IEHI Feed: The Bank Implode-o-Meter http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54831 Fri, 29 Aug 2014 17:40:26 GMT Falling Housing Prices Are Causing Violent Protests In China http://bankimplode.com/viewnews/2014-08-29_FallingHousingPricesAreCausingViolentProtestsInChina.html iehi-feed-54830 Fri, 29 Aug 2014 17:39:01 GMT Japan economy stalls as incomes, spending languish http://bankimplode.com/viewnews/2014-08-29_Japaneconomystallsasincomesspendinglanguish.html iehi-feed-54829 Fri, 29 Aug 2014 17:33:32 GMT JPMorgan and Other Banks Struck by Hackers http://bankimplode.com/viewnews/2014-08-29_JPMorganandOtherBanksStruckbyHackers.html iehi-feed-54828 Fri, 29 Aug 2014 17:32:07 GMT The Buyback Party Is Over; Market Running on Fumes - Albert Edwards http://bankimplode.com/viewnews/2014-08-29_TheBuybackPartyIsOverMarketRunningonFumesAlbertEdwards.html iehi-feed-54825 Fri, 29 Aug 2014 01:25:22 GMT ​From Minsk to Wales, Germany is the key on Ukraine Conflict - Pepe Escobar http://bankimplode.com/viewnews/2014-08-28_FromMinsktoWalesGermanyisthekeyonUkraineConflictPepeEscobar.html iehi-feed-54824 Thu, 28 Aug 2014 17:09:13 GMT How The Coming Silver Bubble Will Develop - Ted Butler http://bankimplode.com/viewnews/2014-08-28_HowTheComingSilverBubbleWillDevelopTedButler.html iehi-feed-54823 Thu, 28 Aug 2014 17:06:43 GMT British Columbia, Ontario to Cooperate on Yuan Trading Hub http://bankimplode.com/viewnews/2014-08-28_BritishColumbiaOntariotoCooperateonYuanTradingHub.html iehi-feed-54822 Thu, 28 Aug 2014 15:36:42 GMT One World, One Bank, One Currency - Rickards http://bankimplode.com/viewnews/2014-08-28_OneWorldOneBankOneCurrencyRickards.html Leading the way, says Rickards, will be the International Monetary Fund. "The task of re-liquefying the world will fall to the IMF because the IMF will have the only clean balance sheet left among official institutions. The IMF will rise to the occasion with a towering issuance of SDRs, and this monetary operation will effectively end the dollar's role as the leading reserve currency."

...

A 42-page IMF paper published in January 2011 with the innocuous-sounding title "Enhancing International Monetary Stability -- A Role for the SDR?" -- lays out what Rickards describes. "A multiyear, multistep plan to position the SDR as the leading global reserve asset. The study recommends increasing the SDR supply to make them liquid and more attractive to potential private-sector market participants such as Goldman Sachs and Citigroup... The IMF study recommends that the SDR bond market replicate the infrastructure of the U.S. Treasury market, with hedging, financing, settlement and clearance mechanisms substantially similar to those used to support trading in Treasury securities today."

...

The genius of the scheme is that the SDRs would create inflation... but ordinary people wouldn't know SDRs were causing it. "Any inflation caused by massive SDR issuance would not be immediately apparent to citizens. The inflation would show up eventually in dollars, yen and euros at the gas pump or the grocery, but national central banks could deny responsibility with ease and point a finger at the IMF."

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iehi-feed-54821 Thu, 28 Aug 2014 13:09:59 GMT Europe will be Russia's hostage over gas supplies for at least another decade http://bankimplode.com/viewnews/2014-08-28_EuropewillbeRussiashostageovergassuppliesforatleastanotherdecade.html iehi-feed-54820 Thu, 28 Aug 2014 13:01:17 GMT Lars Schall - Interview With Ambrose Evans-Pritchard http://bankimplode.com/viewnews/2014-08-28_LarsSchallInterviewWithAmbroseEvansPritchard.html iehi-feed-54819 Thu, 28 Aug 2014 12:57:51 GMT Russian Central Bank prepares bill to create SWIFT analog in Russia http://bankimplode.com/viewnews/2014-08-28_RussianCentralBankpreparesbilltocreateSWIFTanaloginRussia.html iehi-feed-54818 Thu, 28 Aug 2014 12:55:45 GMT The DSKing Of Christine Lagarde: IMF Head Formally Charged In Fraud Probe http://bankimplode.com/viewnews/2014-08-28_TheDSKingOfChristineLagardeIMFHeadFormallyChargedInFraudProbe.html iehi-feed-54816 Wed, 27 Aug 2014 17:13:37 GMT U.S. economy forecast to grow by only 1.5 percent in 2014 http://bankimplode.com/viewnews/2014-08-27_USeconomyforecasttogrowbyonly15percentin2014.html iehi-feed-54813 Wed, 27 Aug 2014 16:43:30 GMT Clive Maund: Will the US succeed in breaking Russia to maintain dollar hegemony? http://bankimplode.com/viewnews/2014-08-27_CliveMaundWilltheUSsucceedinbreakingRussiatomaintaindollarhegemo.html The US wants to "deal with Russia" which has made substantial moves to operate outside the confines of the dollar based trading system. If it could attack it militarily and bomb it into submission, as it has done with various smaller states, it would, but because Russia is a big powerful country with a sizeable military of its own, and nukes, that is not an option.''

The US searched for a geographic doorway through which to attack Russia -- the North and east routes don't work because they are either ocean or China, countries like Poland in Europe wouldn't do either, because they are firmly in the Western camp now, but the Ukraine was perfect for the job because of its being a large country on the SW flank of Russia that is torn in two directions, having old loyalties and blood ties to Russia, and aspirations to a closer union with Europe -- the perfect place to foment a pro-Western revolution and perhaps a civil war that would draw Russia in and could then be used as an excuse to implement sanctions. That is exactly what has happened.

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iehi-feed-54812 Wed, 27 Aug 2014 15:56:20 GMT It Begins: Council On Foreign Relations Proposes That "Central Banks Should Hand Consumers Cash Directly" http://bankimplode.com/viewnews/2014-08-27_ItBeginsCouncilOnForeignRelationsProposesThatCentralBanksShouldH.html iehi-feed-54810 Wed, 27 Aug 2014 15:26:29 GMT Talks optimism fades as Ukraine says Russia makes new incursion http://bankimplode.com/viewnews/2014-08-27_TalksoptimismfadesasUkrainesaysRussiamakesnewincursion.html iehi-feed-54809 Wed, 27 Aug 2014 15:24:37 GMT James McShirley - The MOAMOPE (Silver Being Manipulated at 6pm, Too) http://bankimplode.com/viewnews/2014-08-27_JamesMcShirleyTheMOAMOPESilverBeingManipulatedat6pmToo.html iehi-feed-54808 Wed, 27 Aug 2014 15:14:41 GMT Lost in America - Frank Bruni http://bankimplode.com/viewnews/2014-08-27_LostinAmericaFrankBruni.html Conventional wisdom has seldom been so useless, because pessimism in this country isn't usually this durable or profound... Much of this was chillingly captured by a Wall Street Journal/NBC News poll from early August that got lost somewhat amid the recent deluge of awful news but deserved closer attention. It included the jolting finding that 76 percent of Americans ages 18 and older weren't confident that their children's generation would fare better than their own. That's a blunt repudiation of the very idea of America, of what the "land of opportunity" is supposed to be about. For most voters, the national narrative is no longer plausible.

The poll also showed that 71 percent thought that the country was on the wrong track. While that represents a spike, it also affirms a negative mind-set that's been fixed for a scarily long time. As the Democratic strategist Doug Sosnik has repeatedly noted, more Americans have been saying "wrong track" than "right track" for at least a decade now, and something's got to give.

...

The new jobs don't feel as sturdy as the old ones. It takes more hours to make the same money or support the same lifestyle. Students amass debt. Upward mobility increasingly seems a mirage, a myth.

... this isn't just about the economy. It's about fear. It's about impotence. We can't calm the world in the way we'd like to, can't find common ground and peace at home, can't pass needed laws, can't build necessary infrastructure, can't, can't, can't.

In the Journal/NBC poll, 60 percent of Americans said that we were a nation in decline. How sad. Sadder still was this: Nowhere in the survey was there any indication that they saw a method or a messenger poised to arrest it.

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iehi-feed-54805 Tue, 26 Aug 2014 13:00:35 GMT Russia Prepares 2nd Humanitarian Convoy http://bankimplode.com/viewnews/2014-08-26_RussiaPrepares2ndHumanitarianConvoy.html iehi-feed-54804 Tue, 26 Aug 2014 12:57:55 GMT France In "Political Turmoil" After Hollande Unexpectedly Dissolves Government http://bankimplode.com/viewnews/2014-08-26_FranceInPoliticalTurmoilAfterHollandeUnexpectedlyDissolvesGovern.html