Central Banks are buying stocks

The FT reports that “a cluster of central banking investors has become major players on world equity markets.”

The report, to be published this week by the Official Monetary and Financial Institutions Forum (OMFIF), confirms $29.1tn in market investments, held … Read the rest

Greenpeace employee loses millions in failed currency gamble

The know-it-alls, don’t know much about handling their own money.

Greenpeace has fired an employee who lost the environmental charity $5.47 million in a failed gamble on international currency markets, reports ABC Australia.

Greenpeace communications director Mike Townsley said the … Read the rest

Detroit bankruptcy: a cocktail of white flight and black corruption

by Tom Krishner and Dee-Ann Durbin

The city of Detroit, which for years paid its bills with borrowed money, is the largest city in U.S. history to file for bankruptcy protection. Here’s a look at how the city spiraled into … Read the rest

Max Keiser: The end of Britain

A serf in the days of King John, Max Keiser argues, was in many ways better off than some US voters in 2012.

“Because in the age of Robin Hood,” Keiser says, “at least the process of theft was transparent.

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