Loose End Chronicles: August 8, 2017


Corporate Media Mourns the Loss of the TPP
If other countries remove barriers between them, this could make some of their goods better positioned relative to U.S. exports, but it can also lead to more rapid growth in these countries, which will increase demand for U.S. exports… (Continue to full article)

The Volcker Rule and the London Whale
In the end, the London Whale disaster reflected the mis-marking of generic Index CDS trades, which then-CFO Doug Braunstein ignored. The problem was not complex risk modeling or market risk measurement. The quants tried to re-jigger VaR measurement of the trades, to avoid breaching risk limits… (Continue to full article)

Federal Bank Regulator Drops a Bombshell as Corporate Media Snoozes
Last Monday, Thomas Hoenig, the Vice Chairman of the Federal Deposit Insurance Corporation (FDIC), sent a stunning letter to the Chair and Ranking Member of the U.S. Senate Banking Committee. The letter contained information that should have become front page news at every business wire service and the leading business newspapers. But… (Continue to full article)

No Recovery, The Great Recession Continues
The dramatic nature of the current output trend (post-2007) departure from the past historical trend is highlighted by the fact that pre-crisis models for forecasting growth have produced massive misses compared to actual outrun and that over time, as new trend establishes more firmly in the data, the models are slowly catching up with the reality… (Continue to full article)

State and Local Pension Funds Big Miss On Returns
…then we have the underfunded pension funds of American, both private and public. Public pension funds earned a dismal 0.6% in 2016t… (Continue to full article)

Utah Mayor Suffers “Shocking Experience” After Going Undercover As Homeless Man
Back in March, just days before he was due by state law to select a third site for a new homeless resource center – a decision he knew would anger thousands of his constituents, regardless of his choice – McAdams left work on a Friday with no money or ID and walked to Salt Lake City’s most troubled neighborhood… (Continue to full article)

Should you sell all of your gold and silver to go “All-In” on Bitcoin and Ethereum?
Like gold and silver, crypto-currencies offer a store of value, anonymity, and portability across borders – or do they… (Continue to full article)

The Crime Against Silver
The Republican Party was against Free Silver, the party’s position being that the best way to national prosperity was “sound money.” Republicans favored a continued strong dollar, which rewarded savers and creditors… (Continue to full article)

August 8, 1893: The Repeal of the Silver Act
This law provides that in payment for the 4,500,000 ounces of silver bullion which the Secretary of the Treasury is commanded to purchase monthly there shall be issued Treasury notes redeemable on demand in gold or silver coin, at the discretion of the Secretary of the Treasury, and that said notes may be reissued. It is, however, declared in the act to be… (Continue to full article)

Silver Prices – The Rise and Fall of the Specs With No Clothes
The mainstream financial media, as well as some retail investors, have awakened to the surge in the price of silver, relative to just about everything else in 2016… (Continue to full article)

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