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View the original here: Brussels Pushes for Another "All Powerful" Banking Committee, Headed by ECB, In Spite of Objections by…
Inquiring minds note China, Germany Plan to Settle More Trade in Yuan, Euros . Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday
See original article: Bad News For Super-Models: Computer-Generated Fashion Models Better Than Real Thing; Fashion Questions of the Day
Jeff Harding at the Daily Capitalist asks Why Does Hyperinflation Occur? In every modern case of hyperinflation the decision to inflate was a political one, not an economic one
Link: Governor Brown Admits the Obvious "We Have Lived Beyond Our Means"; Brown Agrees to Vast Overhaul of the California’s…
For a short, yet thorough trashing of Bernanke’s defense of his policies, please see Mish Translation of Bernanke’s Statements on the Treasury Carry Trade and the Tax on Savers . The only way to fix the problem is to end fractional reserve lending and return to sound money. On this point the Austrians are 100% correct.
Continue Reading: Investment Conference Featuring John Hussman, Michael Pettis, Jim Chanos, John Mauldin, Mike "Mish" Shedlock, Chris Martenson
View article: GM Seeks Bigger Credit Line To Shrink Pension Obligations; Déjà Vu Pension Woes
Let’s review what I said in ECB Considers Interest Rate Caps; Can Such a Scheme Possibly Work? Theory vs. Practice The ECB can "in theory" defend a price target on bonds, but only at the risk of owning every bond.