Today’s most shared: Every currency can’t be weak… Wall Street’s chat rooms a hive of villainy? … German hard-money faction displeased with ECB rate cut… When you’re cryin’ you should be buyin’ – the investors who bought on fear reaped huge rewards… When you’re yellin’ you should be sellin’ – Blodget, Merkel, Zweig on the increasing risks of soaring stocks… Bitcoin on a tear… Summers’s swaps cost Harvard $1.4b to unwind… Bernanke on the panic…China’s peasants move from rural poverty to urban squalor.
The global currency wars are heating up again as central banks embark on a new round of easing to combat a slowdown in growth.
shared by @DanielAlpert, Naked Capitalism, reddit/Economics, @JamesGRickards
Wall Street Journal
J.P. Morgan and Credit Suisse are considering blocking employees from computer chat rooms that have become pervasive tools of the modern trading floor, but which face mounting scrutiny from regulators.
shared by NYT Dealbook, @MattGoldstein26, @fiatcurrency, Naked Capitalism
Divisions at the heart of the European Central Bank over last week’s rate cut have revived fears in Frankfurt of a German popular backlash against the bank’s policy making, even as the ECB faces decisions critical to the eurozone’s future.
shared by @mhewson_CMC, Business Insider, Naked Capitalism, @ObsoleteDogma
New York Times
In 2008, a year when the global financial system was falling apart and markets panicked, these investors didn’t. How three big risks, taken by three firms, turned to gold.
shared by Reformed Broker, @howardlindzon, @MattGoldstein26
Wall Street Journal
So have you considered keeping more of your assets in cash?
shared by Abnormal Returns, @vitaliyk, @counterparties, @ReformedBroker, Reformed Broker
A former senior executive at Moody’s has warned that credit rating agencies are using “deluded” processes to calculate the risks of asset-backed securities. He fears this could trigger another financial meltdown.
shared by @JacobWolinsky, Naked Capitalism, @retheauditors, @Ian_Fraser, @Dvolatility
New York Times
China’s government-led urbanization, meant to solve one problem, may be creating a new set of troubles that could plague Chinese cities for generations.
shared by @joshchin, @MParekh, Marginal Revolution, @larsonchristina
The Reformed Broker
As one of the original wise men of the financial blogosphere, David Merkel has always been a crucial read for me. All of the fundamental signs of a top that David identifies can be observed in the markets today.
shared by @finansakrobat, @JacobWolinsky, @1AnthonyLabelle
Bitcoin’s price climbed to a record at $330.01 on the BitStamp online exchange, as U.S. senators scheduled a hearing to discuss the future of the digital money and other virtual currencies.
shared by @ReformedBroker, reddit/Economics, @JohnLothian
The higher we go, the less surprised I will be to see the stock market crash. How big a crash could we get? According to valuation measures, and the work of fund manager John Hussman of the Hussman Funds, 40%-55%.
shared by @TheBOSSofStress, @pkedrosky, reddit/Economics, @ReformedBroker, @Dvolatility
Harvard University, the world’s richest college, lost $345.3 million terminating interest-rate swaps last year, bringing its cost of unwinding debt derivatives since 2008 to more than $1.25 billion.
shared by @LaurenLaCapra, @retheauditors, @louisestory, @mccarthyryanj
shared by @MarkThoma, @FGoria, Naked Capitalism, The Big Picture, Calculated Risk
See the data on why employment is increasing, but prosperity is not.
shared by @iSharesETFs, @ritholtz, reddit/Economics, The Big Picture
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