Re: Financial topics
Posted: Sun Jul 07, 2013 6:13 pm
Vin, no accidents on politics.....
Thursday, 17 May 2012 -----Federal Reserve Bank of St. Louis President James Bullard said economic reports this year have been stronger than forecast and he expects the central bank to raise its target rate by 2013. “Generally speaking, the U.S. economy has done better than expected in the first part of 2012,” Bullard said in Louisville, Kentucky. “My own forecast has rates going up a little sooner” than other central bankers, or “late 2013.”
http://www.federalreserve.gov/boarddocs ... efault.htm
Remember the target peg of china is the inflation rate here. I am not talking the cpi or bls statistics since we know better.
I love the smell of napalm in the morning.
In 1994, Canadian economist Rodney Schmidt noted that in two-thirds of all the outright forward and [currency] swap transactions, the money moved into another currency for fewer than seven days. In only 1 per cent did the money stay for as long as one year. While the volatile exchange rates caused by all this rapid movement posed problems for national economies, it was the bread and butter of those playing the currency markets. Without constant fluctuations in the currency markets, Schmidt noted, there was little opportunity for profit. This certainly seemed to suggest the interests of currency traders and the interests of ordinary citizens [in national economies] were operating at cross-purposes. Schmidt also noted another interesting aspect of the foreign- exchange market: The dominant players were the private banks, which had huge pools of capital and access to information about currency values. Since much of the market involved moving large sums of money (typically in the tens of millions of dollars) for very short periods of time (often less than a day), banks were perfectly positioned to participate. Among swap transactions, which represented a major chunk of the foreign exchange market, 86 per cent of the transactions were actually between banks.
Tony Barber (2009-12-11). "EU leaders urge IMF to consider global Tobin tax". The Financial Times.
Keynes' concept stems from 1936 when he proposed that a transaction tax should be levied on dealings on Wall Street, where he argued that excessive speculation by uninformed financial traders increased volatility. For Keynes (who was himself a speculator) the key issue was the proportion of 'speculators' in the market, and his concern that, if left unchecked, these types of players would become too dominant. Keynes writes: Speculators may do no harm as bubbles on a steady stream of enterprise. But the situation is serious when enterprise becomes the bubble on a whirlpool of speculation.
The introduction of a substantial government transfer tax on all transactions might prove the most serviceable reform available, with a view to mitigating the predominance of speculation over enterprise in the United States.
The General Theory of Employment, Interest and Money
Lobby will never allow it.
As the story goes the Chinese, who were the First to use paper currency 1000 years ago, dumped 40 Tons of Gold onto the market as their populace became less and less enamoured with the Value of their paper. Why did they put 40 tons onto the market? To keep the price of Gold down. HMMM, sure sounds like history rhyming.
Take the time to take a modest delivery.
Renewed Push to Use the C-CPI for COLA, Inflation Indexing.
Thursday, 17 May 2012 -----Federal Reserve Bank of St. Louis President James Bullard said economic reports this year have been stronger than forecast and he expects the central bank to raise its target rate by 2013. “Generally speaking, the U.S. economy has done better than expected in the first part of 2012,” Bullard said in Louisville, Kentucky. “My own forecast has rates going up a little sooner” than other central bankers, or “late 2013.”
http://www.federalreserve.gov/boarddocs ... efault.htm
Remember the target peg of china is the inflation rate here. I am not talking the cpi or bls statistics since we know better.
I love the smell of napalm in the morning.
In 1994, Canadian economist Rodney Schmidt noted that in two-thirds of all the outright forward and [currency] swap transactions, the money moved into another currency for fewer than seven days. In only 1 per cent did the money stay for as long as one year. While the volatile exchange rates caused by all this rapid movement posed problems for national economies, it was the bread and butter of those playing the currency markets. Without constant fluctuations in the currency markets, Schmidt noted, there was little opportunity for profit. This certainly seemed to suggest the interests of currency traders and the interests of ordinary citizens [in national economies] were operating at cross-purposes. Schmidt also noted another interesting aspect of the foreign- exchange market: The dominant players were the private banks, which had huge pools of capital and access to information about currency values. Since much of the market involved moving large sums of money (typically in the tens of millions of dollars) for very short periods of time (often less than a day), banks were perfectly positioned to participate. Among swap transactions, which represented a major chunk of the foreign exchange market, 86 per cent of the transactions were actually between banks.
Tony Barber (2009-12-11). "EU leaders urge IMF to consider global Tobin tax". The Financial Times.
Keynes' concept stems from 1936 when he proposed that a transaction tax should be levied on dealings on Wall Street, where he argued that excessive speculation by uninformed financial traders increased volatility. For Keynes (who was himself a speculator) the key issue was the proportion of 'speculators' in the market, and his concern that, if left unchecked, these types of players would become too dominant. Keynes writes: Speculators may do no harm as bubbles on a steady stream of enterprise. But the situation is serious when enterprise becomes the bubble on a whirlpool of speculation.
The introduction of a substantial government transfer tax on all transactions might prove the most serviceable reform available, with a view to mitigating the predominance of speculation over enterprise in the United States.
The General Theory of Employment, Interest and Money
Lobby will never allow it.
As the story goes the Chinese, who were the First to use paper currency 1000 years ago, dumped 40 Tons of Gold onto the market as their populace became less and less enamoured with the Value of their paper. Why did they put 40 tons onto the market? To keep the price of Gold down. HMMM, sure sounds like history rhyming.
Take the time to take a modest delivery.
Renewed Push to Use the C-CPI for COLA, Inflation Indexing.
