Monetary System

Back on the 16th, I posted a link to a Wall Street Journal article by James Hagerty which detailed how the Federal Home Loan Banks were able to prevent asset writedowns because of guideline changes to mark-to-market accounting.  I…

I'm back after a brief hiatus.  I would like to present you with some data on jobless claims, an economic data series that will become increasingly important in the weeks and months ahead.  The data suggest that a recovery is imminent.…

If you were operating under the illusion that the financial services industry was going to receive less in political favors from the Obama Administration, then you should take a look at this Tech Ticker video. Yesterday, the insurance…

Marc Faber participated in a roundtable discussion on CNBC this morning about the dreadful figures coming out of Europe (see articles here and here). At one point, the German CNBC correspondent made a very good comment about Eastern Europe…

For the time being, I am more worried abut the potential inflationary effects of quantitative easing than about the deflationary impact of deleveraging.  But, the latest news from Ireland shows us that deflation is alive and well. This…

The Bear here is Meredith Whitney, who says that bank stocks will return to negative earnings in the second quarter.  That’s a big and very specific call that is very much out of line with the consensus.  In an interview with…

Last night I received an advance copy of a new book by Wall Street Journal reporter Kate Kelly that gives us a peek inside the last seventy-two hours at Bear Stearns in March 2008.  If you are interested in finance, “Street Fighters” is…

Below is a video of Meredith Whitney talking to Maria Bartiromo earlier today on CNBC (hat tip Calculated Risk).  In the video she suggests that banks might be able to beat earnings estimates for another one or two quarters before the…

The following is an excerpt from Murray Rothbard’s excellent book, “A History of Money and Banking in the United States.”  The passage outlines how the gold standard prevented governments from using inflation as a device to manipulate…

I forgot to add this to my links.  Very funny Saturday Night Live clip spoofing Timothy Geithner.