Will there be another big monetary crisis? As Hamlet stated of the fall of a sparrow: If it be now, tis not to come. If it be not to come, it will be now. If it be not now, yet it will come the readiness is all. It is with banks. They are designed to fall. Fall they definitely will.
What makes interest to this tip even more justified is that its author was at the heart of the financial establishment before and throughout the crisis. He is Lord Mervyn King, previous guv of the Bank of England. Feel free to visit ultimatemerchantproviders.com for reason about financial crisis.
The title is suitable: alchemy lies at the heart of the financial system; furthermore, banking was, like alchemy, a middle ages idea, however one we have not as yet disposed of. We must, argues Lord King, now do so.
Monday June 13
No corporate reporting arranged
No economics scheduled
Tuesday June 14
Style chain Ted Baker will offer a photo of the luxury clothes market today when it publishes its outcomes for the 19 weeks to June 11 and holds its yearly investor meeting.
Recently, the federal government finished an inquiry into how we manage the monetary system. One of the question’s proposals was that we need a board of oversight over ASIC the customer defense regulator and APRA the bank regulator.
That proposal was ultimately dropped, doubtless with some push-back from the regulators. Developing a Financial Regulator Assessment Board was the query's only recommendation that the Abbott federal government rejected.
Our two financial regulators are like a clown automobile with 2 drivers, speeding down the highway.
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