In a bid to tame prices that has seen annual food inflation soar to double digits, India’s central bank Tuesday hiked its short-term lending and borrowing rates by 25 basis points that could make commercial, housing and auto loans dearer. Reserve Bank of India (RBI) Governor Duvvuri Subbarao hiked the repurchase or repo rate to [...]
Posts Tagged ‘Reserve’
India’s Reserve Bank hikes key rates to tame inflation
January 25th, 2011 |
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Data out on central bank reserve, public debt
January 18th, 2011 |
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The National Bank of Serbia (NBS) foreign exchange reserve increased by EUR 340.5mn in December to reach EUR 10bn at the end of 2010. The net reserve, which is the total reserve minus the required reserve for the banks and the funds received from the International Monetary Fund, stood at EUR 5.1 billion on December 31.
Malaysian Man Accused of Hacking Federal Reserve
November 18th, 2010 |
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A Malaysian has been hit with federal charges for hacking financial institutions and possessing thousands of stolen credit card numbers. – A Malaysian man was charged today by a federal grand jury with hacking into
a Federal Reserve Bank computer network and possessing more than 400,000 credit
and debit card numbers.
Lin Mun Poo, 32, was arrested shortly after his arrival in the United
States Oct. 21 and has been in custody
sinc…
Has the Dollar ALREADY Lost Its Status As World Reserve Currency?
November 9th, 2010 |
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These are headlines from the past 2 days:Is China’s Renminbi Already The New Reserve Currency?World Bank chief calls for new gold standardChina Downgrades US Again, From AA To A+, Outlook Negative, Sees “Long-Term Recession”, Blasts QE2, Expects Credit…
Federal Reserve Policy IS Working … Just Not For America
November 3rd, 2010 |
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Richard W. Fisher, president of the Fed bank of Dallas, said last month: In my darkest moments I have begun to wonder if the monetary accommodation we have already engineered might even be working in the wrong places. Far too many of the large …
Bank of England Chief Mervyn King Proposes Eliminating Fractional Reserve Banking
October 31st, 2010 |
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Mervyn King – the governor of the Bank of England – has proposed abolishing fractional reserve banking.As the BBC noted last week:Mervyn King, the governor of the Bank of England, has tonight made a big intervention into the debate on banking reform. …
Straits Asia flat; Reserve upgrade below view: Goldman Sachs
August 20th, 2010 |
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Straits Asia Resources (AJ1.SG) last flat at $2.13, off $2.16 earlier high, failing to build on initial momentum fuelled by news of Indonesia-based coal miner’s increased coal reserves at its Jembayan mine, says Dow Jones.
While latest coal reserves +21% from end December, Goldman Sachs, which has Sell call with $1.90 target, says increase smaller than expected given substantial rise in drilling activity.
The Giant Banks, Federal Reserve and Treasury Have All Blackmailed America
May 22nd, 2010 |
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As I wrote last October: Congressmen Brad Sherman and Paul Kanjorski and Senator James Inhofe all say that the government warned of martial law if Tarp wasn’t passed. And Rahm Emanuel famously said: Never let a serious crisis go to waste. What I…
Should a Stock Market Decline Stop Us From Breaking Up the Giant Banks or Fully Auditing the Federal Reserve?
May 7th, 2010 |
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As of 2007, the bottom 50% of the U.S. population owned only one-half of one percent of all stocks, bonds and mutual funds in the U.S. On the other hand, the top 1% owned owned 50.9%.From the San Francisco Chronicle:Half of America has only 0.5% …
The Fed Must Be Audited: The Fraudulent Practices of the Federal Reserve
May 4th, 2010 |
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In March 2004, when Alan Greenspan was Fed chairman, he suppressed the opinions of those Fed officials who knew that there was a housing bubble.Congressman Alan Grayson points out that – because the Fed unilaterally decided to hand out half a trillion …
Land sale reserve price is necessary, government says
March 25th, 2010 |
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A reserve price that sets a minimum level for sales of government land is necessary to ensure that tracts are sold at fair market rates, the National Development Ministry said in a statement, according to Bloomberg.
“The reserve price has not deterred the successful sale of sites under the Government Land Sales program,” the Ministry said today. “It is the government’s duty as the custodian of state land to ensure it obtains a fair market price for a site.”
Balkan donkey, and “world’s priciest cheese”
March 8th, 2010 |
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A nature reserve north of Belgrade is home to a herd of some 100 Balkan donkeys, while their milk is used to make “the world’s most expensive cheese”. This is according to reports from the Zasavica reserve, near the town of Sremska Mitrovica.
Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy
March 4th, 2010 |
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Joseph Stiglitz – former head economist at the World Bank and a nobel-prize winner – said yesterday that the very structure of the Federal Reserve system is so fraught with conflicts that it is “corrupt” and undermines democracy.Stiglitz said:If we [i….
Glencore sells bonds to BlackRock, GIC, First Reserve
December 23rd, 2009 |
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Glencore International AG, the biggest commodity trader, sold as much as US$2.2 billion ($3.1 billion) of convertible bonds to investors including BlackRock Inc. in what may be the first step toward an initial public offering.
The bonds, which are due December 2014, are convertible into Glencore shares upon an IPO or “other pre-determined qualifying events,” the Baar, Switzerland-based trader said today in an e-mailed statement.
The Fed’s “Independence” Argument Is False
December 14th, 2009 |
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The House has passed a bill to audit the Federal Reserve. 79% of the American people support a full audit.In response, the Fed says that an audit would interfere with its “independence”. However, the Constitution does not empower a central bank. And C…
Wells Fargo Says It Doesn’t Have to Reserve Against Its Off-Balance Sheet Residential Exposure Because the FHA (Meaning the Taxpayers) Will Pay For It
November 22nd, 2009 |
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Chris Whalen has a must-read essay at Zero Hedge:In the case of WFC [Wells Fargo], the bank has taken the position that NONE of its conforming residential exposures should be brought on balance sheet despite the FASB rule change. As we discussed in Th…