Just three days after China quietly cut rates by 20bps when it ordered banks to switch from the traditional Benchmark 1 year rate to the new Loan Prime Rate (aka China's LIBOR) as the reference rate for new short-term loans, effectively lowering the
Last week we reported that something strange was going on at the same time that central banks are injecting $100 billion each month in electronic money to crush volatility and ramp markets: a similar amount in physical currency and precious metals wa
Tesla, which supposedly has lots of cash in the bank and tons of working capital (just ask David Einhorn), is tapping a group of Chinese banks for a relatively small $1.4 billion USD, five year loan, for the company's Shanghai plant.
Rarely has failure been celebrated so much. But it is of little wonder, after all as all asset classes rose in 2019 in spite of slowing growth and flat to declining earnings.
Watch the head of Russia's largest bank by far, owned by the government, report to Putin like a schoolboy taking a pop quiz. The body language of the two tell you everything you need to know about who is in charge.
Actions always speak louder than words. The word is that it's sunshine and rainbows for the U.S. economy. The actions of The Fed and central banks around the world say otherwise. They're all acting as if a global financial crisis is approaching. Ron
Earlier this week, ECB vice president Luis De Guindos, speaking in an interview with El Mundo, offered a surprisingly candid take on how the ECB is distorting capital market, saying that while "we can still increase bond purchases or lower interest r
If data is the new oil of the 21st century, then banks have more than anyone… on your purchases, travels, habits, etc. Now they are figuring out ways to sell your data to the highest bidder, paying you nothing in return. ? TN Editor
Christine Lagarde, having switched from the IMF to heading the ECB, has shocked analysts by demanding a 'key role' in climate change matters. This is a tectonic shift in the mission of central banks.
Iran's top leader on Wednesday denounced an outbreak of deadly unrest as a "very dangerous conspiracy" as authorities reported about 731 banks and 140 government sites had been torched in the disturbances.
Three weeks ago we reported that China's Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, was the latest small-to-medium Chinese bank to suffer a vicious bank run as long lines of depositors filled out its branch
The legal formalisation of the creation of bank credit commenced with England's 1844 Bank Charter Act. It has led to a regular cycle of expansion and collapse of outstanding bank credit.
Before a technological concept is introduced to the wider public, it is common for it to first undergo beta testing to iron out any deficiencies that may not be immediately obvious to the developers.
As capital controls and banking restrictions continue to affect various populations worldwide, standing in the way of individuals and their hard-earned savings, some are looking to safer options and even cryptocurrencies.
Josh Sigurdson talks with author and economic analyst John Sneisen about the breaking news out of Iran as protesters burn down Iran's central bank branch in Behbahan following large protests over the hike of the price of fuel in the country.