Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-54485 Fri, 25 Jul 2014 14:31:07 GMT A Chinese Gold Standard? - Kwasi Kwarteng iehi-feed-54483 Fri, 25 Jul 2014 13:52:01 GMT Stalled recovery leaves Europe defenceless against economic shock from Russia iehi-feed-54482 Fri, 25 Jul 2014 13:47:22 GMT $200 per barrel oil if Russia sanctions escalate iehi-feed-54481 Fri, 25 Jul 2014 13:46:24 GMT Meanwhile, Ukraine's Government Collapses, PM Yatsenyuk Resigns iehi-feed-54479 Fri, 25 Jul 2014 13:38:03 GMT Did PIMCO Push Cyprus Over The Edge? Over the last year, the island has been swept up by Watergate-style hearings with many of the principal actors in the economy's collapse and subsequent rescue. Beyond the calumny and conspiracy theories, one question has persisted: Did Pimco succumb to pressure from the central bank and the three bodies lending money to Cyprus -- the International Monetary Fund, the European Central Bank and European Commission -- to punish the banks by inflating their cash needs?... Some economists believe that the country's depositors, many of whom lost their life savings, suffered needlessly.


The basis for the criticism comes from an unusual source: a separate BlackRock study commissioned by the Cypriot central bank shortly before Pimco issued its report. The central bank chief, voicing concerns over Pimco's models and its approach, asked BlackRock, the world's largest investor, to dissect the work of its rival.

The BlackRock study, which has never been publicly released and was reviewed by The New York Times, suggests that the banks' needs were €1 billion less than Pimco's estimate of €8.8 billion; central bank officials did not brief the new Cypriot government on the report's existence at the time of bailout negotiations in March 2013. Government investigators, who have continued to delve into the matter, say capital requirements were even lower, just over €6 billion.

iehi-feed-54478 Fri, 25 Jul 2014 13:35:07 GMT Slower Japan Inflation Highlights BOJ's Reflation Task iehi-feed-54475 Fri, 25 Jul 2014 13:15:39 GMT The Muddled Case of Argentine Bonds iehi-feed-54474 Fri, 25 Jul 2014 13:05:47 GMT US Intelligence on Malaysian Flight MH17: Russia Didn't Do It iehi-feed-54469 Thu, 24 Jul 2014 13:55:28 GMT "The most pathetic case of backpedaling I have seen in my life" (US "Case" Against Russia on MH17) Crashed MH17 flight 'was 300 miles off typical course' .]]> iehi-feed-54466 Thu, 24 Jul 2014 13:45:04 GMT China's terrifying debt ratios poised to breeze past US levels iehi-feed-54465 Thu, 24 Jul 2014 13:43:44 GMT Defying UK, France to proceed with warships sale to Russia iehi-feed-54464 Wed, 23 Jul 2014 21:49:03 GMT American-Born Gangs Helping Drive Immigrant Crisis at U.S. Border iehi-feed-54462 Wed, 23 Jul 2014 21:24:27 GMT Pepe Escobar: A chessboard drenched in blood iehi-feed-54461 Wed, 23 Jul 2014 21:14:42 GMT reek sovereign debt at 174.1 percent of GDP in first quarter iehi-feed-54459 Wed, 23 Jul 2014 18:59:54 GMT Putin's Ukraine Woes Compounded by $103 Billion Yukos Claim Russia will discover next week how much it may be asked to pay for the confiscation a decade ago of Mikhail Khodorkovsky's Yukos Oil Co., then the country's biggest oil producer.

The Permanent Court of Arbitration in The Hague will rule on July 28 on a $103 billion damages claim the company's former owners filed against Russia in 2007. There's "very limited room" for appeal and Russia will resist paying, so any amount awarded would trigger a global legal battle to seize state property, including assets of OAO Rosneft (ROSN), which acquired most of Yukos in a series of forced auctions, Van Harten said.''

iehi-feed-54456 Wed, 23 Jul 2014 15:05:39 GMT China Warns Against Politicizing Malaysian Boeing Crash Until Investigation is Over iehi-feed-54455 Wed, 23 Jul 2014 15:05:11 GMT Venezuela admits its ever growing dependency with China iehi-feed-54454 Wed, 23 Jul 2014 15:03:32 GMT Argentine default in balance as government refuses to capitulate iehi-feed-54453 Wed, 23 Jul 2014 14:59:49 GMT Draghi Cedes Euro Control to Yellen on Fed Rate Wagers iehi-feed-54450 Tue, 22 Jul 2014 14:42:01 GMT Saudi Stocks Soar as Kingdom Opens to Foreigners Next Year