Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54521 Tue, 29 Jul 2014 14:02:43 GMT Moody's cuts bank outlook to 'negative' on Ottawa's bail-in rule http://implode-explode.com/viewnews/2014-07-29_MoodyscutsbankoutlooktonegativeonOttawasbailinrule.html iehi-feed-54520 Tue, 29 Jul 2014 14:01:41 GMT The Typical Household, Now Worth a Third Less http://implode-explode.com/viewnews/2014-07-29_TheTypicalHouseholdNowWorthaThirdLess.html The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution -- the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

...

"The housing bubble basically hid a trend of declining financial wealth at the median that began in 2001," said Fabian T. Pfeffer, the University of Michigan professor who is lead author of the Russell Sage Foundation study.

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iehi-feed-54519 Tue, 29 Jul 2014 13:59:11 GMT Financial Times deleted gold manipulation story because it was too 'sensitive' http://implode-explode.com/viewnews/2014-07-29_FinancialTimesdeletedgoldmanipulationstorybecauseitwastoosensiti.html iehi-feed-54517 Tue, 29 Jul 2014 00:42:40 GMT THE TRUTH ABOUT THE FED'S RELATIONSHIP WITH BUBBLES http://implode-explode.com/viewnews/2014-07-28_THETRUTHABOUTTHEFEDSRELATIONSHIPWITHBUBBLES.html Many commentators have previously argued that the Fed is too dumb or too inept to identify of categorize asset bubbles.

By focusing on the Fed's mental acuity, these commentators are overlooking a key factor: the Fed WANTS to asset bubbles.

The reason for this?

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iehi-feed-54516 Mon, 28 Jul 2014 14:43:57 GMT "Reprehensible" Lloyds Bank Agrees To $105 Million Wristslap For Manipulating LIBOR http://implode-explode.com/viewnews/2014-07-28_ReprehensibleLloydsBankAgreesTo105MillionWristslapForManipulatin.html iehi-feed-54515 Mon, 28 Jul 2014 14:43:07 GMT Argentine Default Drama Nears Critical Stage http://implode-explode.com/viewnews/2014-07-28_ArgentineDefaultDramaNearsCriticalStage.html iehi-feed-54514 Mon, 28 Jul 2014 14:40:11 GMT The BRICS Bank Is Born Out of Politics - Forbes http://implode-explode.com/viewnews/2014-07-28_TheBRICSBankIsBornOutofPoliticsForbes.html iehi-feed-54512 Mon, 28 Jul 2014 14:31:24 GMT Yellen "Watching What She Eats" Would Help Track Prices http://implode-explode.com/viewnews/2014-07-28_YellenWatchingWhatSheEatsWouldHelpTrackPrices.html iehi-feed-54511 Mon, 28 Jul 2014 14:28:45 GMT Pending Home Sales Unexpectedly Fall http://implode-explode.com/viewnews/2014-07-28_PendingHomeSalesUnexpectedlyFall.html iehi-feed-54510 Mon, 28 Jul 2014 14:13:24 GMT Yukos Owners Win $50 Billion in 10-Year Fight With Russia http://implode-explode.com/viewnews/2014-07-28_YukosOwnersWin50Billionin10YearFightWithRussia.html iehi-feed-54509 Mon, 28 Jul 2014 14:07:16 GMT Hussman: Yes, This Is An Equity Bubble http://implode-explode.com/viewnews/2014-07-28_HussmanYesThisIsAnEquityBubble.html iehi-feed-54508 Mon, 28 Jul 2014 13:54:15 GMT Meet the man who's driving Argentina to the brink http://implode-explode.com/viewnews/2014-07-28_MeetthemanwhosdrivingArgentinatothebrink.html iehi-feed-54507 Sun, 27 Jul 2014 23:29:42 GMT The Italian Government Owes Over $100 Billion To Private Suppliers http://implode-explode.com/viewnews/2014-07-27_TheItalianGovernmentOwesOver100BillionToPrivateSuppliers.html iehi-feed-54506 Sun, 27 Jul 2014 23:22:31 GMT Luxembourg Pursues Offshore Trade in China's Yuan http://implode-explode.com/viewnews/2014-07-27_LuxembourgPursuesOffshoreTradeinChinasYuan.html "The internationalization of the renminbi is one of the major events, if not the major event, since the creation of the euro in terms of monetary events. It's potentially huge, so we want to be positioned for that market," Luxembourg Finance Minister Pierre Gramegna said in an interview... Even Crown Prince Guillaume, the 32- year-old heir to the Grand Duchy, has joined in, accompanying a December delegation to China.

Officials at the Luxembourg Stock Exchange keep enamel pins pairing the Luxembourg and Chinese flags to wear at events celebrating yuan-denominated bond listings, which hit 30.6 billion yuan in volume when Bank of China Ltd. 601988.SH +0.77% raised 1.5 billion yuan in May. At the Association of the Luxembourg Fund Industry, information packs and wall posters have been translated into Mandarin. Local legal and accounting firms and even the financial regulator, the CSSF, say they are hiring Chinese speakers.

...

At the end of [recent Luxembourg delegation meetings to China], China signed a clutch of agreements that should lead to the establishment in Luxembourg of a yuan clearing bank and bring more China-related funds, bonds and stocks to the country. Meanwhile, three of China's six biggest banks have set up European headquarters in the area locals call Luxembourg city's "mini Wall Street," and two more announced plans in the past few weeks.

At China Construction Bank Corp., which got its Luxembourg banking license last year, European chief Suosheng Li can look out from the bank's glass-and-steel headquarters building onto the three round towers of Fort Thungen, an 18th century citadel that is one of the city's main landmarks. CCB's nine-story office block is mostly empty right now, but the bank aims to fill it with staff who will help bring Chinese companies to Europe and serve China-focused European customers, Mr. Li said.

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iehi-feed-54505 Sun, 27 Jul 2014 23:18:07 GMT Generational Shift: The Daughter of Mortgage Bankers Association President David Stevens Doesn't Want a Mortgage http://implode-explode.com/viewnews/2014-07-27_GenerationalShiftTheDaughterofMortgageBankersAssociationPresiden.html iehi-feed-54504 Sun, 27 Jul 2014 23:16:10 GMT Sign of Top? Banana Republic Trots out ‘Startup Guy' Look http://implode-explode.com/viewnews/2014-07-27_SignofTopBananaRepublicTrotsoutStartupGuyLook.html iehi-feed-54503 Sun, 27 Jul 2014 23:14:25 GMT France's Relentlessly Deteriorating Unemployment Fiasco http://implode-explode.com/viewnews/2014-07-27_FrancesRelentlesslyDeterioratingUnemploymentFiasco.html iehi-feed-54502 Sun, 27 Jul 2014 22:52:39 GMT Singapore's drive to become gold hub continues, As Refinery Gets LBMA Approval http://implode-explode.com/viewnews/2014-07-27_SingaporesdrivetobecomegoldhubcontinuesAsRefineryGetsLBMAApprova.html iehi-feed-54500 Sun, 27 Jul 2014 14:02:43 GMT Boehringer: German Gold Repatriation Still "On"; But Gold Probably Rehypothecated http://implode-explode.com/viewnews/2014-07-27_BoehringerGermanGoldRepatriationStillOnButGoldProbablyRehypothec.html iehi-feed-54499 Sun, 27 Jul 2014 13:56:13 GMT Russia Media Allege Flight MH17 Shot Down by Ukraine Missile Unit. Political Disarray Following Collapse of Kiev Government http://implode-explode.com/viewnews/2014-07-27_RussiaMediaAllegeFlightMH17ShotDownbyUkraineMissileUnitPolitical.html