bankdecay

timetravelingg:

Groot 😊

Reblogged from fiend-for-nicotine

timetravelingg:

Groot 😊

(Source: memewhore)

"The issuance will be the third step in a co-ordinated series of measures, announced on 29 April 2013, to further strengthen the Bank’s capital structure and follows a EUR 3 billion equity capital raise in April 2013 and the issuance of USD 1.5 billion CRD4 compliant Tier 2 securities in May 2013. Today’s announced transaction is the first step towards reaching the overall targeted volume of approximately EUR 5 billion of CRD4 compliant Additional Tier 1 capital which the Bank plans to issue by the end of 2015"

The Elephant In The Room: Deutsche Bank’s $75 Trillion In Derivatives Is 20 Times Greater Than German GDP | Zero Hedge

Ukraine’s IMF Deal Means Greece-Like Depression

Reblogged from proletarianinstinct

fuckyeahmarxismleninism:

On Thursday, the IMF released the broad outlines of its terms and conditions for loans and other measures for the Ukrainian economy. What those terms and conditions mean is less a rescue of the Ukrainian economy than the onset of a Greece-like economic depression for the Ukrainian populace.

Ukraine’s economy had clearly entered a recession, its third since 2008, sometime in the latter half of 2013.  Some recent estimates of the likely contraction of the economy in 2014-15 have ranged from 5%-15% in GDP decline.

The ‘IMF Standby Agreement with Ukraine’ text released March 27, acknowledges the current severe economic instability of the Ukrainian economy. What it fails to acknowledge, however, is how the IMF package will further adversely impact that economy.

Reblogged from kayfabe

jeffrubinjeffrubin:

As far as I can tell I’m the first sane person on YouTube to produce a video about the symbology of dollar bills. Here’s Dollar Bill Secrets.

Billionaires Compare Economic Populism to Nazi Germany

Reblogged from beerburritowhiskey

Debt: The first 5,000 years

Reblogged from azspot

In the end, Graber suggests, debt– and economic theorists– blind us to how human societies really operate. There are at least three types of human economy, which he calls communism, exchange, and hierarchy. ‘Communism’ is the helpful, altruistic systems that underlie all human society– it’s how families work, and entire villages in many cultures, and even how corporations work internally. Hierarchical exchanges are largely exactions by the rich and powerful, and their salient feature is precedent: a particular tax or tribute, once levied, becomes customary, which is one reason you should be wary of offering a gift to the king. (On the other hand, it’s rare that an elite simply does nothing but take; usually it needs to attract supporters by giving things away.)

To Graeber, economists go terribly wrong in ignoring or underestimating the non-exchange portions of the world. The whole attitude of looking at the world in terms of rational, egoistic calculation is a vast misapplication of what was originally a very narrow part of the economy– associated with debt, war, and slavery.

All of this is fascinating and eye-opening, and can be used to deepen (and darken) your view of history, or your conworld.

At the same time… well, for Graeber history is full of villains, and he’s often so busy flinging mud at them that he loses track of who’s worse and who we should be rooting for. E.g. he talks about the rise of coinage as something of a disaster, destroying the credit economy and ultimately turning the Roman citizens into slaves. Yet he’s already shown that debt slavery functioned with its full horribleness in pre-coinage societies, and turned the Mesopotamians into slaves. Later he provocatively suggest that the Dark Ages weren’t so dark, as the Europeans ended slavery, resisted usury, and ended the militarism of the Roman Empire. But the Middle Ages, as he well knows, replaced slavery with serfdom, and threw out the political and technological advances of the ancients.

The U.S. Economy Might Be Doomed

Reblogged from un

un:

Oh, well that’s good, shouldn’t create any overthrows of government of social upheaval, right?

Bitcoin Anonymity Upgrade Zerocoin To Become An Independent Cryptocurrency

Reblogged from seanbonner

Reblogged from coccyodynia

(Source: kingjaffejoffer)