1/12/14
...Considering monetary policy, (click here) money's sole purpose is to facilitate the exchange of goods. In that case, the only good money is money that is unchanging in value. With the fed staffed with individuals trained in the fraudulent discipline that is economics, it is broadly true that the very few inside our central banks walls believe in stable money values. Because they don't our economy would be much better off if we had a monetary authority possessing one mandate: maintain the integrity of the unit account (the dollar) by stabilizing it's value...
Get the feeling someone got caught and now wants to run away from the reality of their own greed?
Metals, Currency Rigging is Worse than Libor, Bafin Says (click here)
By Karin Matussek and Oliver Suess
January 17, 2014
...Considering monetary policy, (click here) money's sole purpose is to facilitate the exchange of goods. In that case, the only good money is money that is unchanging in value. With the fed staffed with individuals trained in the fraudulent discipline that is economics, it is broadly true that the very few inside our central banks walls believe in stable money values. Because they don't our economy would be much better off if we had a monetary authority possessing one mandate: maintain the integrity of the unit account (the dollar) by stabilizing it's value...
Get the feeling someone got caught and now wants to run away from the reality of their own greed?
By Karin Matussek and Oliver Suess
January 17, 2014
Germany’s top financial regulator said possible manipulation of currency rates and prices for precious metals is worse than the Libor-rigging scandal, which has already led to fines of about $6 billion.
The allegations about the currency and precious metals markets are “particularly serious because such reference values are based -- unlike Libor and Euribor -- typically on transactions in liquid markets and not on estimates of the banks,” Elke Koenig, the president of Bonn-based Bafin, said in a speech in Frankfurt yesterday.
Koenig is the first global finance regulator to comment publicly on the investigations as probes into the London interbank offered rate, or Libor, expand into other benchmarks. Joaquin Almunia, the European Union’s antitrust chief, said this week that its preliminary probe into possible foreign-exchange manipulation covers similar practices as in the regulator’s probe into Libor-rigging....
