With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
Bernie and TVP. There has to be a distinction between the traditional banking (recent additions) functions to these banks and their investment banking functions (their legacy functions).
Yes large corporations need large financial institutions to provide banking functions to global enterprises, but small individuals do not need JPM to establish branch banking and credit card functions. And real-estate owners do not need JPM or Goldman or MS in the residential real estate market.
With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
Bank failures by year" 2012 - 23 2011 - 89 2010 - 157 2009 - 140
With the 0.88% yield on its 10-year paper apparently not doing the trick, Japan signs up super-popular all-girl band AKB48 to help hawk JGBs to the citizenry. The group will headline a summer campaign composed of a number of other Japanese celebrities. [View news story]
How can you grow an economy when all the citizens are saving and investing in JGB's. Stop this. Do not sell JGB's to Japanese citizens. This is just a stealth tax sucking all the consumable funds out of it citizens to fund government spending. It's insane.
Wall Street Breakfast: Must-Know News [View article]
Japan needs to stop selling debt to Japanese citizens. Those citizens will take their last Yen to support their government. Japan will never be able to create any inflation if they continue their current approach.
With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
Wow....brilliant. Seems like someone finally has the guts to call them out. Way to go Sheila !
You don't have to shave....all you have to do is mint various sizes. They do that now with gold - 1 oz, 1/2 oz, 1/4 oz and 1/10 oz. They do not make 1/2 "dollars" or 1/4 "dollars" or 1/10 "dollars" in silver.
Your statement of my belief is actually not true. I do touch it and I do buy and sell it. I give physical away as gifts. Sometimes, I consider, but have not pulled the trigger on trading some of this asset class for other asset classes. Sometimes I just sell some to buy other things. That's exactly what I would do if it were legal tender at 'market' value.
People don't circulate Eagles because it is illegal....well, not technically, you can use them as legal tender at a $1 and $50 respectively for silver and gold, but who would do that? Presumably, if the legal tender "face" value were consistent with the market value of 1 ounce of gold, then anyone would be able to use them in everyday commerce. As it is, if I bought one for $500 and sold it for $1500, I would theoretically have to pay a tax on the gain, whereas if it were tradable at "market value" of 1 ounce, then there would be no reason to have a gain. You buy an ounce, you sell an ounce and that's all there is to it.
Sorry....my point was there is now no need for a fixed exchange rate. It can be a floating exchange rate determined by market forces, just like currency exchange rates are. With computer/internet technology, anyone in any business could tell you what the exchange rate was between FRN's, Gold, Silver, EU, Yuan, etc.
Wow....not a single comment on these results all day long. Ho hum.....I guess we're just plodding along for now and things are not getting much better. Barely creating enough new jobs to handle growth in population at the civilian workforce level. But wait.....I'm sure we'll see unemployment numbers fall as the workforce keep shrinking.
Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
Well let's just say this. If you have to power to create a bubble and then explode it, or if you have the power to create inflation or hyperinflation, then you have the power to create cycles and if you know the intent in advance, they you have the power to profit from that knowledge.
Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
Article 1 Sec 8 Para 5 gave the power to Congress to "coin money and regulate the value thereof". The Coinage Act of 1792 identified the nature, weights, amounts etc of gold and silver coins. It originally identified $10 of gold as the equivalent of 16 grams of pure gold.
I would be happy if the cashier would accept the WMW IOU's. They are high quality and traded quite extensively within my family.
On the other hand, regarding gold or silver coins. I am more than happy to have the US mint stamp and certify weight and fineness. That's their job and they do it today with Gold Eagles and Silver Eagles. When they produce those, anyone with cash is capable of exchanging cash for coins. If I happen to have a good period in the market and make $250,000, then I can determine whether to hold FRN's or Gold or Silver or any combination. I could just as easily take my FRN's down to the store, but in some circumstances I might find myself short of FRN's. I may decide I want to take Gold when I go on my trip to Europe or Asia and having a few ounces that I could use for walking around money would be easier than converting USD to Yuan to EU's to HKD, etc. I could lose 40% just in converting back and forth in a couple weeks.
With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
Yes large corporations need large financial institutions to provide banking functions to global enterprises, but small individuals do not need JPM to establish branch banking and credit card functions. And real-estate owners do not need JPM or Goldman or MS in the residential real estate market.
With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
2012 - 23
2011 - 89
2010 - 157
2009 - 140
1994 - 15
1993 - 50
1992 - 181
1991 - 271
1990 - 382
1989 - 534
1988 - 470
1987 - 262
1986 - 204
1985 - 180
1984 - 106
I don't think 2009-2011 were all that bad. Aren't there something like 8000 banks in the US?
With the 0.88% yield on its 10-year paper apparently not doing the trick, Japan signs up super-popular all-girl band AKB48 to help hawk JGBs to the citizenry. The group will headline a summer campaign composed of a number of other Japanese celebrities. [View news story]
Wall Street Breakfast: Must-Know News [View article]
At the top of Goldman Sachs' VIP List of 50 stocks most important to hedge funds is Apple (AAPL), followed by GOOG, ESRX, MSFT, QCOM, C, GM, PCLN, JPM and LMCA. Leading the list of the firm's top 50 short positions is JNJ, XOM, INTC, IBM, AMZN, T, CVX, VZ, DUK and DIS. [View news story]
With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces. [View news story]
Gold: A Seismic Move Is Coming [View article]
Why I Am Short Gold: 5 Reasons [View article]
Why I Am Short Gold: 5 Reasons [View article]
Your statement of my belief is actually not true. I do touch it and I do buy and sell it. I give physical away as gifts. Sometimes, I consider, but have not pulled the trigger on trading some of this asset class for other asset classes. Sometimes I just sell some to buy other things. That's exactly what I would do if it were legal tender at 'market' value.
Why I Am Short Gold: 5 Reasons [View article]
Why I Am Short Gold: 5 Reasons [View article]
Initial Jobless Claims: 370K vs. 371K consensus (prior week revised to 372K from 370K). Continuing claims -29K to 3.26M. [View news story]
Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
Why I Am Short Gold: 5 Reasons [View article]
On the other hand, regarding gold or silver coins. I am more than happy to have the US mint stamp and certify weight and fineness. That's their job and they do it today with Gold Eagles and Silver Eagles. When they produce those, anyone with cash is capable of exchanging cash for coins. If I happen to have a good period in the market and make $250,000, then I can determine whether to hold FRN's or Gold or Silver or any combination. I could just as easily take my FRN's down to the store, but in some circumstances I might find myself short of FRN's. I may decide I want to take Gold when I go on my trip to Europe or Asia and having a few ounces that I could use for walking around money would be easier than converting USD to Yuan to EU's to HKD, etc. I could lose 40% just in converting back and forth in a couple weeks.