Euro collapse & foreign exchange reserves Mickey Bozinovich Marginal Evolution With an increasing talk of a possible Euro collapse, central banks across the world may feel little nervous about their foreign exchange reserve holdings. According to the IMF data as of September 2011, there is about 1.454 trillion Euros in foreign exchange reserves slouching in [...]
Japanese money fleeing Europe Mickey Bozinovich Marginal Evolution As Europe today threatened Greece with their own financial suicide, Annaly CEO says that Japanese banks are moving their money out of Europe and into the US. “They [Japanese] are shutting down European operations and they are moving more of that capital and resources into the [...]
The negatives of global steel Mickey Bozinovich Marginal Evolution Iron ore, one of the few non-financialized commodities, is not doing so well. Prices have dropped 11% in a week and Chinese steel makers, considered the last of the drivers for the iron ore demand, are signaling a major slowdown in output. While copper is [...]
Some doubts of the latest Euro-rescue plan Mickey Bozinovich Marginal Evolution Eurozone banks are parking the cash they borrow from the European Central Bank (ECB) back with the ECB, latest reports say. Bank borrowing from ECB is said to be very high but the borrowed money is deposited back with the ECB even though [...]
Speculators seen pushing aluminum prices higher Mickey Bozinovich Marginal Evolution Aluminum stocks held by banks in warehouses are expected to remain intact which will inflate prices and make banks big winners, say analysts. Banks and trading houses are seen as big winners in aluminum as low interest rates and probability of a recession [...]
Euro crisis heading for Lehman levels, EU official Mickey Bozinovich Marginal Evolution Governing Council member at the European Central Bank (ECB) emphasized that Europe has a liquidity and confidence problem and that, although not at Lehman levels, these problems are heading towards 2008 crisis levels. “The chief problem in Europe is that of [...]
Is Greek default inevitability sinking in? Mickey Bozinovich Marginal Evolution It makes for good TV entertainment to watch mafia loan sharks but what often escapes the fun is the way loan-sharks price their credit so that the borrower fails to pay – interest rate on short term borrowing is way higher [...]
More Eurobank trouble fanning from the East Mickey Bozinovich Marginal Evolution As though Eurobanks did not already have enough problems with the sovereign debt, now comes the possibility of consumer debt defaults on loans denominated in Swiss Franc and lent out to Eastern European consumers. West European banks control 75% of [...]
Fed “concerned” about Eurobanks Mickey Bozinovich Marginal Evolution Reality catching up with the Fed: New York Fed officials “are very concerned” about European banks facing funding difficulties in the United States… Regulators are seeking to avoid a repeat of the 2008 financial crisis, when the global financial system began to seize up. This [...]
Japan eyes reconstruction boom Mickey Bozinovich Marginal Evolution Japan’s chairman of the Reconstruction Design Council said that the country’s reconstruction plans will spark an economic boom in the country that will repay the reconstruction debt and make the country less reliable on long term debt. The government is set to spend $250 billion rebuilding the [...]
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