Tag Archive: UK

Mar 27

Bank of England undermines the Classic Money Creation Theory

“In exceptional circumstances, when interest rates are at their effective lower bound, money creation and spending in the economy may still be too low to be consistent with the central bank’s monetary policy objectives. One possible response is to undertake a series of asset purchases, or ‘quantitative easing’ (QE)… As a by-product of QE, new …

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Permanent link to this article: http://www.opusnet.org/archives/3531

Jul 01

Rogue States

The so called “Datagate”, recently boosted by a Glenn Greenwald’s investigation published by  the Guardian, early June, unveils an uncomfortable truth on the UK-USA espionage over world’s communications, and in particular over ‘allied’ European Countries. Since the first allegations moved to USA Embassy in Bruxelles over phone tapping, computer hacking and bugs at the European Commision’s …

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Permanent link to this article: http://www.opusnet.org/archives/2681

Sep 12

Commodities markets: food price rush

In 2012 the price of soy grew over 30%, and this summer wheat and corn hit respectively +30% and +38%. In the last six months of 2010 alone, more than 44 million people were driven into extreme poverty as a result of rising food prices. At the same time, banks and financial investors are making …

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Permanent link to this article: http://www.opusnet.org/archives/935

Sep 12

BBA warned banks on LIBOR-EURIBOR rate-rigging

The British Bankers’ Association (BBA) issued a warning to banks in April 2008 to “submit honest rates” to its Libor setting panel. One email, dated 21 May 2008, appears to show that Angela Knight, the chief executive of the BBA, was aware of the potential for banks to submit rates not reflecting the price at …

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Permanent link to this article: http://www.opusnet.org/archives/931

Jul 19

HSBC to find a settlement

One of the biggest financial scandals (see an old but dedicated database in our Weblist), a criminal probe into laundering of drug-cartel and other money , according to a WSJ note. Again, unsolved questions present their burden on business making and daily life conditions. How regulators perform their tasks, when such enormous mass of money can …

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Permanent link to this article: http://www.opusnet.org/archives/489

Jul 18

Everybody knew: the LIBOR scandal

New York FED knew about possible ‘problems’ of LIBOR fixing process since 2007, as in its answer to Congressional Request for informationon Barclays-LIBOR matter. Just while Mr. B. Benenke says that Libor is ‘structurally flawed’ (LA Times) and the Fed had pushed for reform of the rate setting process in 2008 when it became concerned …

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Permanent link to this article: http://www.opusnet.org/archives/451