Owning Fiat Just Got More Expensive – NIRP Strikes Again

Owning Fiat Just Got More Expensive - NIRP Strikes AgainWith the recent Union Bank of Switzerland (UBS) announcement that even more customers will be charged to hold money in their banks, people are scrambling to find ways to preserve their wealth, while USB and others scramble to dam the losses resulting from national negative interest rate policy (NIRP). The relatively recent experiments with NIRP […]

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Liquidity Difficulties in China: Second Bank Bail-Out Now Reality

Another Troubled Chinese Bank Bailed Out by BeijingAlthough it has its peculiarities, the Chinese banking sector now faces similar challenges to the west’s financial system. Dozens of small banks have been experiencing liquidity difficulties in the past few months. Observers believe the expanding problem has the potential to trigger a financial crisis that could grow into a new global meltdown. Chinese state-owned […]

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Unbanked for Buying Bitcoin: How the Financial System Criminalizes Crypto

Unbanked for Buying Bitcoin: How the Financial System Criminalizes CryptoWhen we think of the unbanked, we envisage citizens of developing nations who lack the means and documentation to obtain access. But you don’t have to be a Mongolian goat herder to find yourself financially excluded. In the West, relatively affluent citizens are having their banking services withdrawn suddenly and without warning. Their ‘crime’? Buying […]

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Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels

Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant LabelsThe recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean […]

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