Debt Rattle May 12 2015
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May 12, 2015 at 10:03 am #21030Raúl Ilargi MeijerKeymaster
G. G. Bain Temporary footpath, Manhattan Bridge 1908 • Fed Said To Have Emergency Plan To Intervene If US Defaulted On Debt (Reuters) • 5 Major Banks
[See the full post at: Debt Rattle May 12 2015]May 12, 2015 at 2:56 pm #21031jalParticipantI don’t believe everything that I read.
• US Companies Hoarding $1.7 Trillion In Cash (FT)
• Some Eurozone Banks ‘Just As Likely To Fail’ As Before 2008 Crisis (Guardian)Which banks do those US companies use?
I would think that all those saving are not into any banks. The banks probably gave the money, (long time ago ), to Greece etc.
May 12, 2015 at 6:39 pm #21032Dr. DiabloParticipantNonsense that they’re “hoarding” cash. In aggregate, they do have cash in the bank (which means it can be confiscated at any hiccup with a bail-in). However, that cash was raised by issuing unprecedented debt. So what companies have REALLY done is dramatically increase their debt position in a bum economy, bought back stock at the worst time, and put a little residue from their stock-pump initiative into the bank, thereby paying 5% on larger debt, receiving 1% in interest, while adding the risk of a bail-in.
Brilliant!
May 12, 2015 at 7:05 pm #21034ProfessorlocknloadParticipantEver wonder how much of that $1.7 trillion in cash hoard is derived from $4 trillion + in Fed QE injections?
That we know about, that is. Indirectly, given Fractional Reserve amplification, the effective injections of “Free” money are probably somewhere well into the double digit range of $ trillions, maybe?
May 12, 2015 at 7:09 pm #21035ProfessorlocknloadParticipantOh, but Churning = Tax Revenues,,,so churn it will be. Only a matter of time to the grand reset. When Velocity takes off, there won’t be much visible but the vapor trail, to most non club members.
May 13, 2015 at 11:04 am #21045Dr. DiabloParticipantInteresting on velocity, because at the moment velocity is collapsing, not rising. Retail traffic and sales too, down 15% in a MONTH. That’s close to “game over.” That doesn’t mean it can’t rise, but it’s hard to anticipate or predict reversals.
A similar thing could happen non-organically if the world refuses the Dollar in trade, thus revaluing it. Then you’d have a forced-“inflation” via currency re-set, down 30-70%, like all good 3rd world countries that run out of rope. But it’s not internal and not inflation in the sense of the domestic economy dumping currency for goods.
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