Toney

Deleveraging Pushes the Dollar Up

How long will it take to deleverage the international shadow banking system (read: casino) the old fashioned way?

Royal Bank of Scotland was effectively nationalized this morning, a growing trend: Black Rock, HBOS, etc.

"When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done." - Keynes