The Netherlands is the latest in Europe to move away from the center. A relatively new political party in Holland, formed in 2016 it stunned convention this week. Dutch voters were electing provincial parliamentary representatives who then determine seats in the country’s Senate. The Forum for Democracy (FfD) party will go from two to twelve campaigning on a “Dutch first” [...]
Since rumors of a much lower DOJ settlement went viral last week, Deutsche Bank stock has rebounded. From a low of $11.48 last Friday, the stock was trading today above $13. This isn’t, of course, indicative of an end to all woes for the German bank, merely the latest is a long line of temporary reprieves. The problem for Deutsche [...]
Part 1 is HERE. In March 1969, while Buba was busy in the quicksand of its swaps and forward dollar interventions, Netherlands Bank (the Dutch central bank) had instructed commercial banks in Holland to pull back funds from the eurodollar market in order to bring up their liquidity positions which had dwindled dangerously during this increasing currency chaos. At the [...]
The finance ministers and representatives of central banks from the world’s ten largest “capitalist” economies gathered in Bonn, West Germany on November 20, 1968. The global financial system was then enthralled by a third major currency crisis of the past year or so and there was great angst and disagreement as to what to do about it. While sterling had [...]
In yesterday’s post on the price of gold and its direct relation to collateralized liquidity I linked the shortage of collateral to QE. For the sake of space I omitted the demand for liquidity part of the equation. This post aims to fill in that variable, particularly in the context of the gold price shamble. We should not forget that [...]
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