betekenis van het woord CURRENCY

Onderzoek naar witwaspratijken bij JPMorgan

JPMorgan Chase & Co's compliance with U.S. anti-money laundering laws is being reviewed by a banking regulator, a source said, making the largest U.S. bank the latest target of a wide investigation of how banks prevent transactions involving drug money and sanctioned countries.

JPMorgan Chase & Co's compliance with U.S. anti-money laundering laws is being reviewed by a banking regulator, a source said, making the largest U.S. bank the latest target of a wide investigation of how banks prevent transactions involving drug money and sanctioned countries.

The Office of the Comptroller of the CURRENCY, an independent branch within the Treasury Department, is examining JPMorgan's systems that are designed to monitor and filter such transactions, said the source, who is familiar with the situation.

The exact scope of the inquiry and the size of potential liabilities for the bank could not be learned.

Egan Jones downgrades VS: van AA naar AA-

From Egan Jones, who downgraded the US for the first time ever last July, two weeks ahead of S&P:

From Egan Jones, who downgraded the US for the first time ever last July, two weeks ahead of S&P:

Up, up, and away - the FED's QE3 will stoke the stock market and commodity prices, but in our opinion will hurt the US economy and, by extension, credit quality. Issuing additional CURRENCY and depressing interest rates via the purchasing of MBS does little to raise the real GDP of the US, but does reduce the value of the dollar (because of the increase in money supply), and in turn increase the cost of commodities (see the recent rise in the prices of energy, gold, and other commodities). The increased cost of commodities will pressure profitability of businesses, and increase the costs of consumers thereby reducing consumer purchasing power. Hence, in our opinion QE3 will be detrimental to credit quality for the US.

Bulgarije zegt voorlopig 'Ne Mersi' tegen de euro

Bulgarije tegen de Euro: "nee bedankt!".

Bulgarije tegen de Euro: "nee bedankt!".

If one needs a shining example of why the days of Europe's artificial CURRENCY are numbered, look no further than the EU's poorest country which moments ago said "Ne Mersi" to the Eurozone and the European CURRENCY. From the WSJ: "Bulgaria, the European Union's poorest member state and a rare fiscal bright spot for the bloc, has indefinitely frozen long-held plans to adopt the single CURRENCY, marking the latest fiscally prudent country to cool its enthusiasm for the embattled CURRENCY.

JPMorgan opent bankrekeningen in drachme

We kwamen een opmerkelijke passage tegen in onze rondje ‘lezen’ ieder ochtend. Volgens The New York Times bereiden vele Amerikaanse financiële partijen zich nu voor op een daadwerkelijke exit van Griekenland uit de eurozone.

We kwamen een opmerkelijke passage tegen in onze rondje ‘lezen’ ieder ochtend. Volgens The New York Times bereiden vele Amerikaanse financiële partijen zich nu voor op een daadwerkelijke exit van Griekenland uit de eurozone.

JPMorgan Chase, though, is taking no chances. It has already created new accounts for a handful of American giants that are reserved for a new drachma in Greece or whatever CURRENCY might succeed the euro in other countries.

Blijkbaar wordt er ook door Bank of America nagedacht om trucks volgeladen met cash klaar te zetten aan de Griekse grenzen, zodat men de werknemers en leveranciers kan doorbetalen.

Nu is het voor ons geen geheim dat bepaalde firma’s in voorbereiding zijn van een mogelijke terugkeer van de drachme (waaronder reisorganisatie TUI, handelsplatform ICAP en nog meer grote Europese bedrijven).

Maar dat de Amerikanen nu ook de hoop voor de Grieken opgeven, is wel een bevestiging van de rampzalige gang van zaken in Griekenland.

Stagflatie: Werkloosheid Eurozone Bereikt Recordhoogte terwijl Inflatie Stijgt

Spot the divergence in the chart below, which compares the unemployment rate in the Eurozone and in the US.

Spot the divergence in the chart below, which compares the unemployment rate in the Eurozone and in the US.

In July European unemployment rose to 11.3% - a record post-Euro rate, and the highest since 1990 for the constituent countries. While this was in line with estimates, what surprised the market, and has sent the EUR paradoxically higher (paradoxically, because all a continent in stagflation, which Europe by now most certainly is, is to have its CURRENCY rise just when it needs to export more goods, in the process entrenching its economic plight even further) is that inflation in August picked up from 2.4% to 2.6%, beating expectations of a 2.5% increase, allowing the European misery index to stand head and shoulders above the rest of the world.