Friday, September 11, 2009
Volcker: Banks Should Not Trade
Banks should not be allowed to own hedge funds or equity funds and their trading activity should be limited, former Federal Reserve Chairman Paul Volcker said in an interview with Il Sole 24 Ore on Thursday.
"A bank that generates the major part of its income from trading should not be allowed to have a banking license," Volcker, an economic adviser to the Obama administration, said.
Asked about introducing caps for bankers' pay, Volcker said bankers would find a way around that.
"We're seeing it already; it's obscene what they're earning," he said. (more)
Thursday, September 10, 2009
McAlvany Weekly Commentary: Sept 9, 2009
ECOSPASM: Inflation, Deflation, & Stagflation in One!
September 9th, 2009The Gods of the Copybook Headings by Rudyard Kipling
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool’s bandaged finger goes wabbling back to the Fire;
(To read the entire poem, go to: http://www.kipling.org.uk/poems_copybook.htm )
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John Embry - Gold Outlook: Explosion in the Price of Gold Imminent
John Embry and Andrew Mickey
Andrew Mickey: Thanks for joining us today John. A lot has happened since we last talked in February. Basically, it looks like almost everything we looked at last time - gold, silver, agriculture, and other hard assets – continue to be out of favor. There have been “gold shoots,” but nothing really sustainable.
That’s why, today, I want to get into a few more specific topics with you. And one thing that's really hot right now is what's going on in