By Ambrose Evans-Pritchard
8:04PM BST 02 Jun 2013
Foreign bank loans fell by $472bn (£311bn) in rich countries in the fourth quarter of last year, contracting at an 8pc annual rate. The retrenchment was led by a collapse of interbank loans in the eurozone, where lenders in the creditor states continue to pull back from periphery countries.
Volumes fell by $284bn across the eurozone, a 20pc rate of contraction. Belt-tightening by banks is a key reason why the region remains stuck in recession for the seventh quarter in a row.
The BIS said in its quarterly report that the markets are “under the spell of monetary easing”, convinced that central banks will keep the asset boom going despite signs of “broad deceleration” in the US economy and fatigue in China.
Jaime Caruana, the BIS’s managing director, said last month that the authorities should refrain from further stimulus to keep growth alive, warning that excessive liquidity is distorting the financial system without achieving much. “If a medicine does not work as expected, it’s not necessarily because the dosage was too low,” he said.
The BIS was the only major watchdog to warn of a bubble before the Lehman crisis, and it has once again begun to fret over junk bonds and frothy asset prices.
BIS records startling collapse of eurozone interbank loans
Cross-border lending is falling drastically across the western world as banks slash exposure to Europe and bend to tougher capital rules, according to data from the Bank for International Settlements.
There are solutions. We can have all the food and energy we need to feed 7 or 9 billion people.
(1) What is the source of food
Photosynthesis of the plants convert water and carbondioxid into sugar with the presence of photons, which is an organic storage of energy. That is the essence of our food sources. What if we can do it synthetically?
(2) New energy sources have been discovered to generate electricity from "unexplained" sources, which is enough to provide for the energy need of our daily life and transportation. Those technologies are yet to be widely adopted, probably due to the resistance from the carbon energy industries.
So the point is that the Universe has provided us everything we need to live meaningful life on this Earth. It will continue to.
from long time ago the creation of a city was result of a political and economical batle, but i believe to built a city needs mental work and economical worth of that mental work the city must face political downtorns, to built a metropolis of 16 million citizans what it needs?
I belive that the most important is cofidence (political, social, geografical, eduacational , productive, etc) of who is living in the city give to them selfs and for foreign citizans. Its hard to explain what is this cofidence in the city, its have so worth that many have it and lose it, but the worth stil there.
this is why the USA needs to keep its nose out of everyones affairs. Who asigned this country to be the new world order policeman? and who says the American system is superior? because we have more materialism?
these problems were known 30+ yrs. ago. It is all part of a plan. as to economic growth will solve our problems, that also is naive. Our whole economic system is flawed. Mankind cannot continue to pull more and more natural resources from the ground at ever increasing withdrawl rates and think this will solve the economic and social problems. the only realistic solution is for a massive dieoff of entire populations which will allow for society to restart itself on a worldwide scale. perhaps a massive pandemic of plagues will help solve the problem
If BRICS did not present an alternative, then Fed can continue to print with impunity. But BRICS are gradually introducing alternative currency basket to settle trade and financial transactions. China has also sign bilateral currency exchange agreement with many trading partner to prevent the disruption to international trade in case of a USD meltdown.
US/UK/France axis no longer dominate the world, as you can clearly observe. The breaking point is approaching. The US ruling elite knew this, that is why the NDAA 2012/2013 have been passed to prepare for such eventuality. Why not read about the NDAA 2012/13 during the weekend.
The Federal Reserve has proven that deficits AND debt do not matter when you simply print both away, and additionally buy worthless assets with even more newly printed money from your shareholders (the TBTF banks) at Fantasy prices to place on a meaningless balance sheet. The key is that the Fed's "balance sheet" is imaginary...they could call it Donald Duck's Lockbox...their balance sheet is fiction just like their Maiden Lane Fantasy books.
Many countries, such as US, China, Russia, Israel, and Iran, etc, have possessed such tech. So for Hitler like figure, the scalar wave could be employed to dematerialize it. Hiding in a cave or under thick lead wall will not help much.
Maybe that is the final solution to the never ending world wars.
Looks like MISM is about to take off. With all of the recent developments I am going to start accumulating some MISMIf you haven’t checked out MISM what are you waiting for
If you want to learn about this technology, there are low-powered experiment units sold on the Internet. The power is less than 1w so it is safe. The weapon system usually requires millions of watts or more.
Scalar Wave can instantaneously dematerialize any object, biological or not. Even those hiding behind think concrete or lead wall.
A Scalar Wave Weapon system hooked up to a GPS network will be able to attack any target within the Earth atmosphere, since it can penetrate cloud and the Earth itself without losing much energy.