At the beginning of the Great Depression, world trade dropped by an “astounding 65 per cent in gold-dollar terms”.
Let’s start with being provocative: The utterly corrupt path leading to the Greek debt default theater is filled with faux EU pressures, chicanery and bribes, overt and implied, by all 11 sides.
To some degree capital regulation has become synonymous with prudential regulation. At its most basic level, capital, in the form of shareholder equity, provides a cushion to cover unexpected increases in liabilities or decreases in asset values.
Detlev Schlichter says that “Today’s mainstream view on money is logically incoherent because it is in fundamental conflict with essential aspects of money and money’s role in a market economy.”
At the same time as David Cameron was extolling the virtues of “tax transparency” and putting in place intergovernmental agreements for the automatic exchange of tax information between the U.K. and its Crown Dependencies and British Overseas Territories, such as the Cayman Islands...
Since debt enjoys priority of payment in insolvency proceedings, demoting a debt claim to the lower rank of an equity interest likely means a total loss for the distressed investor.
As the U.S. unemployment rate dropped below 6 percent in September 2014, The Federal Reserve began to acknowledge that the Great Recession might finally be over and that it would end its program of Large Scale Asset Purchases, commonly known as QE3.