Thursday, 4 July 2013

Portugal's stocks plunge following resignation of foreign and finance ministers...The Federal Reserve Is Paying Banks NOT To Lend 1.8 Trillion Dollars To The American People.....'Bank of England policy is transferring wealth from savers to fund the banks': How Funding for Lending and QE continue to erode rates....


Portugal's stocks plunge following resignation of foreign and finance ministers

Thursday, 04 July 2013 06:20
'The Lisbon stock exchange's key index plunged 5.99 percent in early trading on Wednesday to 5,199.01 points at 0730 GMT.

Additionally, the resignation of Portuguese Finance Minister Vitor Gaspar on Monday, followed by the announced departure of the nation’s Foreign Minister Paulo Portas on Tuesday, further threw the government’s survival into question.

The latest instance of apprehension was triggered by the resignation of the two ministers which was reportedly prompted by major budget cuts that have drastically reduced living standards in the nation, which is one of the poorest European states that uses euro as its currency.'
 

The Federal Reserve Is Paying Banks NOT To Lend 1.8 Trillion Dollars To The American People

Wednesday, 03 July 2013 11:09
'Did you know that U.S. banks have more than 1.8 trillion dollars parked at the Federal Reserve and that the Fed is actually paying them not to lend that money to us? We were always told that the goal of quantitative easing was to “help the economy”, but the truth is that the vast majority of the money that the Fed has created through quantitative easing has not even gotten into the system. Instead, most of it is sitting at the Fed slowly earning interest for the bankers.'
 

'Bank of England policy is transferring wealth from savers to fund the banks': How Funding for Lending and QE continue to erode rates

Wednesday, 03 July 2013 09:53
'Savers are losing more than £17billion a year as inflation continues to wipe out the low interest earned by their savings and current accounts, according to research.
A combination of paltry rates and inflation of 2.7 per cent in May means savers' pots are swiftly declining in value, according to UHY Hacker Young.
The accountancy group says £114billion is currently deposited in accounts yielding no interest at all – and higher interest savings accounts now offer rates far lower than inflation. A typical tax-free cash Isa rate, for example, sits at just 1.7 per cent. Any money deposited into accounts offering interest rates below inflation will decline in value on a monthly basis.'
 
 

Posted by Britannia Radio at 09:31