Fed manipulation of the housing market.
"Calvo predicts, “The Fed balance sheet will likely be $5 trillion in toxic assets by the end of 2014.” Calvo thinks what is going on behind the scenes will one day come to light, and it won’t be pretty. Calvo thinks the mortgage rate forecast will eventually go up, but the Fed will suppress rates as long as it can. Calvo says, “It’s kind of like Enron. When it falls apart, then you realize what level of corruption and deceit was really taking place. . . . It’s a trillion times worse than Enron.”"Legalized corruption.
Cyprus rejects bank bailout tax.
"The Cypriot Parliament on Tuesday overwhelmingly repudiated a €10 billion international bailout package that would have set an extraordinary precedent by taxing ordinary depositors to pay part of the bill. "This means banks will fail. The ECB will keep Cyprus banks liquid.
No comments:
Post a Comment