Grant Williams looks at the inevitable math of a Greece exit from the Euro and the comical responses from European Leaders.
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Grant Williams looks at the inevitable math of a Greece exit from the Euro and the comical responses from European Leaders.
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Central bankers worldwide are going to provide emergency liquidity to European financial institutions. This keeps the banks from collapsing because of insufficient liquidity, it does not solve the issue of insolvency. In fact, let us remember the hapless Dick Fuld in March of 2008:"The Federal Reserve's decision to create a lending facility for primary...
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Yves Smith hits a theme I have been harping on, the Federal Reserve, and central banks in general, are making things worse in may ways by destroying the incentive for banks to lend or borrow from one another. She quotes James Bianco of Arbor Research: The Fed’s massive and numerous liquidity facilities are making...
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