The blue-chip Dow was lower by 519 points, or 1.3%. The S&P 500 lost 1.1% and the Nasdaq Composite fell by 1%.
Archiv: Kapital / capital
What the Israel-Hamas war means for defense stocks
(18.10.2023)
When war breaks out, defense companies tend to make money. That means aerospace and defense stocks tend to rise during geopolitical unrest.
I tell @DrMercola that when I‘m President, I will get the Federal Reserve under control and make sure we restore sovereignty in the American people over our money supply. #Kennedy24
(03.02.2024)
Federal Reserve leaves interest rates unchanged at 22-year high, signals one more hike in ‘23
The Federal Reserve held interest rates steady at a 22-year high on Wednesday while signaling another rate hike will be needed later this year to bring inflation back to its 2% target.
Der Putsch in Chile als Grundlage für die „neoliberale Konterrevolution“ und die Chicago Boys
Durch die aufgezählten Maßnahmen sind bis heute die Lebenshaltungskosten in Chile fast so hoch wie in Deutschland, bei weit geringeren Löhnen. Rund die Hälfte der arbeitenden Bevölkerung Chiles verdient weniger als umgerechnet 500 Euro im Monat. Allein für den Weg zur Arbeit mit öffentlichen Verkehrsmitteln, ausnahmslos in privater Hand, geben die Menschen durchschnittlich 20 Prozent ihres Einkommens aus, für Lebensmittel zwischen 30 bis 40 Prozent. Ein Großteil des monatlichen Konsums der „Mittelschicht“ beruht auf Kredit. Chile ist infolge der neoliberalen Schocktherapie der OECD-Staat mit der mit Abstand größten sozialen Ungleichheit: Ein Prozent der Bevölkerung verfügt über weit mehr als ein Drittel des Reichtums.
Notenbank-Konferenz in USA – Inflation: EZB setzt auf straffe Zinspolitik
Der Kampf gegen die hohe Inflation ist nach den Worten der Präsidentin der Europäischen Zentralbank (EZB), Christine Lagarde, noch nicht gewonnen. Das bedeute, dass die EZB so lange an einer strikten Geldpolitik festhalten müsse, bis eine mittelfristige Teuerungsrate von zwei Prozent erreicht werde, sagte Lagarde am Freitag auf der Notenbank-Konferenz in Jackson Hole in den USA.
Bank-of-England-Vize: Wohl „einige Zeit“ weiter hohe Zinsen
Die Folgen des Preisanstiegs würden wahrscheinlich nicht so schnell verschwinden, wie sie entstanden seien, sagte der Vizegouverneur der Bank of England (BoE), Ben Broadbent, laut Redetext gestern auf dem Treffen von Zentralbankern und Ökonominnen in Jackson Hole im US-Staat Wyoming.
„Vor diesem Hintergrund könnte die Geldpolitik noch einige Zeit restriktiv bleiben.“
Bank of England warns UK rates need to remain high for some time
(Sat 26-08-2023)
“It’s unlikely that these second-round effects will unwind as rapidly as they emerged,” Broadbent said at the Federal Reserve’s annual gathering of central bankers in Jackson Hole, Wyoming. “As such, monetary policy may well have to remain in restrictive territory for some time yet.”
The BOE has raised rates 14 times in a row to 5.25%, the highest level in almost 16 years, to tame inflation.
Dollar steady as Fed‘s Powell says higher rates may be needed
(August 25, 2023)
Powell, in a speech at an economic summit in Jackson Hole, Wyoming, said policymakers would „proceed carefully as we decide whether to tighten further,“ but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2% target.
How Jackson Hole Became an Economic Obsession
(Aug. 24, 2023)
The most hotly anticipated event is a speech by the Fed chair that typically takes place on Friday morning and is often used as a chance for the central bank to send a signal about policy. Jerome H. Powell, the current Fed head, has made headlines with each and every one of his Jackson Hole speeches, which has investors waiting anxiously for this year’s. It is the only part of the closed-door conference that is broadcast to the public.
Taxpayer to hand over £150bn to Bank of England to cover QE losses
According to a quarterly report by the Bank on its asset purchase facility – the vehicle it uses to hoover up UK debt on financial markets – losses from bond purchases are poised to balloon by the early 2030s.
After the 2008 financial crisis, the Bank of England started purchasing UK government and corporate debt from financial institutions in an effort to stimulate the economy by pushing down yields.
UK government faces £150bn bill to cover Bank of England’s QE losses
(25.07.2023)
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Bank of England set to raise base rate to 5.25 per cent
(today)
This will push interest rates to their highest since early 2008 and further hikes are expected this year.
If the rise goes ahead on Thursday, 3 August, it will be the 14th successive rise to the base rate and will pile more pressure on borrowers.
EZB erhöht Leitzins auf 4,25 Prozent
(today)
Zu diesem Zinssatz können sich Geschäftsbanken Geld bei der EZB leihen. Am sogenannten Hauptrefinanzierungssatz orientieren sich Banken bei der Kreditvergabe, etwa für private Baukredite.
Der sogenannte Einlagensatz, den Banken für das „Parken“ von Geldern bei der EZB erhalten, steigt somit von 3,50 auf 3,75 Prozent.
Fed Raises Interest Rates to 22-Year High, Leaves Door Open for More
(26.07.2023)
The quarter percentage-point hike, a unanimous decision, boosted the target range for the Fed’s benchmark federal funds rate to 5.25% to 5.5%, the highest level in 22 years.
IMF board signs off on $1 bln in funds for Kenya
(17.07.2023)
IMF Deputy Managing Directory Antoinette Sayeh said Monday‘s actions would allow Kenyan authorities to continue to address such challenges, sustain market confidence, promote growth, and advance ongoing reforms.
She said approval of Kenya‘s fiscal 2023-2024 budget and the 2023 Finance Act were „crucial steps“ needed to support ongoing consolidation efforts and reduce debt vulnerabilities while protecting social and development expenditures.
Google‘s troubles mount, as EU joins US‘ breakup call
Both the governments seemingly agree on one thing: The era of Google’s dominance in advertising technology must end. The European Commission recently joined the Department of Justice in touting a breakup as a viable remedy for the California-based tech giant’s alleged monopoly abuses. In its probe, the EU said a divestment is needed because a behavioral remedy wouldn’t stop Google from “self-preferencing.”
Google’s Ad Tech in Peril as EU Joins US’s Breakup Bandwagon
The European Commission last week joined the Department of Justice in touting a breakup as a viable remedy for the California-based tech giant’s alleged monopoly abuses.
Plattform der Notrechtsbetroffenen
Was ist passiert?
Am Wochenende vom 18./19. März 2023 beschloss der Bundesrat, gemeinsam mit der FINMA, der Nationalbank und den Entscheidungsträgern der Banken Credit Suisse und UBS die Fusion der beiden Grossbanken.
Dabei wendete der Bundesrat Notrecht an um diverse gesetzliche Vorgaben, die bei einer Transaktion wie der vorliegenden allenfalls zu beachten wären (sei es u.a. aus dem Fusionsgesetz, Obligationenrecht, Bankengesetz oder dem Wettbewerbsrecht) via «Notverordnung» ausser Kraft zu setzen.
Statt Notrecht: Bundesrat will Bankenrettung gesetzlich absichern
(25.05.2023)
Der PLB soll das Instrumentarium der bestehenden «Too big to fail»-Regulierung ergänzen. Die CS mitgezählt, hat die Schweiz fünf systemrelevante Banken: UBS, CS, Zürcher Kantonalbank, Raiffeisen und Postfinance.
Der PLB gehört laut Finanzdepartement international zum Standard-Kriseninstrumentarium. Zum Tragen kommt er, wenn eine systemrelevante Bank nicht mehr genügend flüssige Mittel hat, um ihre finanziellen Verpflichtungen zu erfüllen.
Damit hat die EZB durch ihre Zinserhöhung doch erreicht was sie wollte. Auf die Bundesregierung zu zeigen, wenn doch die EZB das Ziel hatte, die Wirtschaft abzuwürgen, ist irgendwie komisch
(25.05.2023)
EZB und Zinsen: Lagarde -„kein Beweis“ für Rückgang der Kern-Inflation Zinsen sollen weiter steigen
“Die Linke”: (Euro-) Kapitalismus-Rettung um jeden Preis
(25.November 2013)
Die seit Jahren von den Funktionären dieser sehr alten Partei organisiert gestreuten Propaganda über D-Mark-Nationalisten-Kapitalisten als vermeintlich einzigen Gegnern des Euro-Finanz- und Währungssystems, können alle selbst widerlegen, wenn sie sich ausnahmsweise 10 Sekunden Zeit zum Nachdenken nehmen.
Noch nie wurde in der gesamten Geschichte der Menschheit ein Finanzsystem durch das vorhergehende ersetzt. Ein neues Finanzsystem wäre neu.
Haben wir das jetzt alle verstanden?
Die EZB hebt Zinsen weiter an. Das Resultat weiter steigender Zinsen aber könnte die Wirtschaft in Deutschland noch stärker unter Druck bringen. Vor allem für die deutsche Industrie weisen alle Indikatoren weiter nach unten.
(…)
Bank of England raises UK interest rates to 4.5%
(11 May 2023)
The Bank of England has raised interest rates by a quarter of a point to 4.5% as it forecast inflation would stay higher for longer than previously expected and the economy would perform more strongly.
Congressional Democrats beg Biden to nullify their existence
At one event, Sen. Bernie Sanders (I-Vt.) released a letter to Biden on behalf of himself and nine Democratic senators “to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution.” He was joined in this by Sens. Elizabeth Warren (D-Mass.), Jeff Merkley (D-Ore.) and Sheldon Whitehouse (D-R.I.), among others.
Obviously, these are not Nike-wearing cultists, but that only makes their actions all the more inexplicable. These are rational leaders whose desire to nullify their own existence would have seemed entirely implausible to the Framers.
Democrats Urge Biden To Evade GOP’s Debt Ceiling Demands Using Civil War-Era Amendment
Sen. Bernie Sanders (I-Vt.) led a letter co-signed by 10 other senators that asked the president to use the Civil War-era amendment, which states “the validity of the public debt of the United States . . . shall not be questioned,” to continue issuing debt without congressional approval.
Epstein Accusers Win $75 Million Settlement Against Deutsche Bank
(May. 18, 2023)
Despite the eye-watering sum, Deutsche Bank did not admit any wrongdoing as a result of the settlement, sources told the WSJ. “This groundbreaking settlement is the culmination of two law firms conducting more than a decade-long investigation to hold one of Epstein’s financial banking partners responsible for the role it played in facilitating his trafficking organization,” lawyers for the plaintiffs said in a statement.
Zehntes Mal in Folge: US-Notenbank Fed erhöht Leitzins erneut
Mit einem erneuten Zinssprung um 0,25 Prozentpunkte liegt dieser nun in der Spanne von 5,0 bis 5,25 Prozent, wie die Federal Reserve am Mittwoch mitteilte. Das ist der höchste Wert seit 2007 – also vor Beginn der weltweiten Finanzkrise.
Damit hat der jüngste Bankenkollaps in den USA – der Zusammenbruch der First Republic Bank – die Fed nicht davon abgehalten, weiter leicht an der Zinsschraube zu drehen.
It’s time to worry about a US default. For real this time
There’s a banking crisis, which regulatory officials and big American banks very much want you to believe is ending after decisive action over the weekend to take over and swallow up another failing bank.
And there’s a debt crisis, which is becoming more urgent as the US approaches the “X-date” – when it would default – and on which opposing lawmakers aren’t currently talking to each other.
First Republic fallout: Democrats fume as regulators bail out yet another failed bank
Sen. Elizabeth Warren (D-Mass.), a fierce critic of big banks, emphasized that the FDIC bailout of First Republic once again puts taxpayer money on the line. That’s after $25 billion was used from the Treasury’s Exchange Stabilization Fund to backstop a loan for the rescue of depositors at Silicon Valley Bank in March.
First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase
(May 1, 2023)
The government’s takeover and sale of First Republic comes roughly eight weeks after the government took control of Silicon Valley Bank and Signature Bank, whose failures sent a shock wave through the industry and raised fears that other regional banks were at risk of similar runs on deposits.
FDIC prepares to place First Republic under receivership
(April 29, 2023)
Separately, the Wall Street Journal reported on Friday that JPMorgan and PNC are vying to buy First Republic following its seizure by the government, which could come as soon as this weekend.
If the San Francisco-based lender falls into receivership, it would be the third U.S. bank to collapse since March. First Republic said this week its deposits had slumped by more than $100 billion in the first quarter.
Silvergate has collapsed
(Mar 8, 2023)
In January, its earnings report revealed that it lost a billion dollars in one quarter after its customers withdrew $8.1 billion. Then, on March 1st, it filed a document saying its financials were even worse than the quarterly report had shown.
The Federal Government Bailing Out Crypto’s Biggest Bank? Silvergate Taps the Federal Home Loan Bank as its Lender of Last Resort
(January 19, 2023)
The FHLB system was created under Herbert Hoover in 1932 with the primary goal of making homeownership more affordable for the average American. (…)
While FHLBs are privately capitalized, they enjoy a special statutory lien priority which can place them ahead of other parties, including the FDIC, in bankruptcy proceedings. Thus, if Silvergate were to join the spate of major crypto industry entities that filed bankruptcy recently, it could leave the FDIC holding the (empty) bag, responsible for paying out deposit insurance on Silvergate’s FDIC insured accounts while the FHLB is first in line for any assets remaining.
Signature execs sold $100 million in stock in three years pre-bailout
(April 4, 2023)
The insider sales went largely unnoticed because Signature Bank, unlike most other S&P 500 companies, filed documents with the Federal Deposit Insurance Corporation instead of the Securities and Exchange Commission. (…)
The bank collapsed and was taken over by federal regulators last month, in the wake of Silicon Valley Bank’s collapse.
The Silicon Valley Bank Bailout: The Purpose of Government Is to Make the Rich Richer
(April 2, 2023)
The idea that conservatives like the market and not the government is unadulterated crap. It is a myth that they use to conceal the ways they have rigged the market to make income flow upward. Unfortunately, virtually the entire left has agreed to go along with this absurd myth. Moments like the bailout of the rich depositors at SVB make the truth about conservatives and the market apparent to all. (And yes, this is the point of Rigged [it’s free].)
Silicon Valley Bank seized by FDIC after largest failure since the Great Recession
(Mar 10, 2023)
Silicon Valley’s failure came with incredible speed, with some industry analysts on Friday suggesting it was a good company and still likely a wise investment. Silicon Valley executives were looking to raise capital early Friday or find additional investors in the company. But trading in its shares had been halted before the opening bell due to extreme volatility.
Shortly before noon eastern time, the Federal Deposit Insurance Corporation announced it was shuttering the bank. Notably, the FDIC did not wait until the close of business to seize the bank, as is typical in an orderly wind down of a financial institution.
Sudan fighting prompts fears oil supply could be affected
Concerns were rising April 17 over oil production and exports in Sudan and its bigger-producing southern neighbor as fighting related to a vicious power struggle between military leaders rolled into a third day.