Last week we were intrigued when the Ukraine Central Bank announced its FX market intervention plans not via 'trader sources" or Bloomberg but through its Facebook account (which later failed as the Hryvnia pushed on to record lows).
According to the 1990s Japan script, European QE is just what the doctor ordered to raise growth and inflation expectations... oh wait...
A "Yes" vote for Scottish independence represents a "high risk" event according to Citi's Michael Saunders.
First came the default, then a proposed debt swap aimed at circumventing a U.S. court ruling that could normalize Argentina's relations with foreign investors.
Here is the statement from the Johannesburg Stock Exchange:
The pattern should be seared in your memory by now. If you fail to recognize it, you could be struck with a huge financial blow.
Five nations are coming together to set up a global bank. Brazil, Russia, India, China and South Africa are all coming together using the first letter of their country?s names to spell out the BRICS bank. It?s headquarted in Shanghai and they already
Much of the manual labour in these countries, and much of the domestic work, is performed by people who in the 19th century were known as indentured bond-slaves or coolies. The British Empire abolished slavery in the 1830s, the U.S. in the 1860s, but
The "recovery" news in Spain keeps piling up. Via translation from El Economista, Government has already taken 37% of the total 'pensions piggy bank'. If extractions continue at the current rate, the fund would be exhausted in 4 years.
Iran's crude oil exports to its largest client China grew 40.6 percent in July year-on-year, Chinese customs data show.
Congratulations go to Forbes columnist John Tamny and editor of Real Clear Markets for producing the "Idiot's Guide to Austrian Economics'.
Hedge-fund manager Hans Hume, experienced with national debt and Argentina's default, argues that the country needs to make a fresh start and fire the law firm that advised default was a good idea
Or, as some would call it, a "scorched earth" transaction that burns all bridges, and goodwill, with the international creditor community and likely leaves Argentina unable to access global capital markets for the foreseeable future.
It's crystal clear Ukraine has no interest in a ceasefire under any terms.
Ukraine's next crisis will be a devastatingly economic one, as violent conflict destroys critical infrastructure in the east and brings key industry to a halt, furthering weakening the energy sector by crippling coal-based electricity production.
Brent crude is rising this morning up from an earlier dip to $101.75. That is not the case for WTI crude which has been in freefall since this morning's CPI data print. Brent-WTI has soared from below $5 to over $6.50 in the last few....
Silver Spot Chart
Much of the supposedly godlike power of central banks is participants' faith in their powers to control not just finance but the real world that can be leveraged by finance.
Property prices in the U.K. can't go on rising forever ? and now they're not.
Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles and then sold to retail customers of Portugal's Banco Espirito Santo SA , the Wall Street Journal reported Sunday.
It seemed like Argentina's best hope for getting out of default ? a group of banks willing to buy over $1.3 billion of sovereign debt from the hedge fund creditors that sued The Republic for a decade and won.
London-traded Brent crude prices were down more than 2.5% Thursday as investors came to grips with more abysmal Europe economic data.
Despite global geopolitical crises exploding among the world's biggest producers of oil, WTI (and Brent) crude oil prices have tumbled to 5-month lows (WTI At $96).
German Economy Contracts, France Stagnates, Italy in Recession; Time for a Rethink
President Vladimir Putin said on Thursday Russia should aim to sell its oil and gas for roubles globally because the dollar monopoly in energy trade was damaging Russia's economy.
Nick Hanauer is a rich guy, an unrepentant capitalist ? and he has something to say to his fellow plutocrats: Wake up! Growing inequality is about to push our societies into conditions resembling pre-revolutionary France.
With all eyes firmly focused on Ukraine's borders and the bloodshed in the East as fighting rages, it appears few are paying attention to the ongoing collapse of the nation's currency.
Meet the new, slimmed down, less complex, more manageable Citigroup. Or not.
Throughout history there has always been a dominant currency. As each empire became the new financial capital of the world, their currency became the most prized and tended to circulate around the globe into even the fringe economies that they may ha