banking – DEMAGAGA

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Venezuela Eliminates 100 Bolivar Banknote

Cash crunch worsens as Venezuela weathers one of the worst economic crises in its history Venezuela pulls most popular banknote – BBC News Venezuela’s widely-circulated, oft-used 100-bolivar banknote will not be legal tender beginning December 16, 2016. Venezuelan citizens received notice of this move by the central government only a few days ago and the […]

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British Man Discusses How He Spent Millions Loaned Him by Bank

Booze, cars, and women sums it up “The bank lent me $2m so I spent it on strippers and cars” from BBC News [Tweet “How one British man spent 2 million dollars #bank loaned him in error #highlife “] For more of the latest news on DEMAGAGA, click here. [ad name=”DMGG In-Content Responsive Ad”] [ad […]

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Fed Raises Interests Rates for First Time in 10 Years

Move is a boon for the US banking sector Federal Reserve Hikes Interest Rates By A Quarter Point | MSNBC Move will be a profit windfall for the US banking sector which has not seen an interest raise in ten years. [Tweet “#Federal Hikes Interest Rates By A Quarter Point #banking #finance”] For more of […]

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With Astronomical Debt Burdens and a Housing Bubble, Sweden Scraps Reform Plans for Mortgage Financing

Sweden’s recovery from Financial Times Sweden’s economic recovery threatened by potentially volatile housing debt market Unlike other countries in its Nordic neighborhood, the vast majority of Swedes do not pay off the mortgages on their homes – dying in debt and many having only paid the interest on the loan itself rather than the principal. […]

Netherlands Bank SNS Reaal Nationalized

After receiving a bailout of €750 million in 2008, SNS Reaal was thought to be profitable but its capital limits left it below legal solvency amounts, forcing the Dutch state to take a stake in the troubled financial concern. The Netherlands’ Finance Minister Jeroen Dijsselbloem said the move was to insure financial stability, especially after […]

HSBC Bank Implicated in Drug Money Laundering Scheme

Already under fire for previous allegations of money laundering for terrorist and drug trafficking organizations, a new scandal has emerged for beleaguered HSBC Bank, a firm founded long ago by British opium merchants during the British imperial era in Hong Kong. [Global Research]

Is the European Union Going to Fail?

The bailout of Greece and the sovereign debt crisis in Spain has called into question the long-held notion that a federal Europe was all but an inevitability. Will problems of collective action ultimately doom one of history’s most ambitious political experiments? Will the affluence of the North and the dereliction of South sunder apart a […]