When you hear people talking about the Fed tapering QE next year, you know they are behind the proverbial curve.
Once this release of reserves is finished, however, the run rate revenue and income for large banks is likely to decline.
The big banks in Boston, New York and London did not support “Lincoln’s War”
While the progress in machine learning is impressive, horsepower in terms of computational capacity does not translate into intelligence.
The BIS is essentially saying to the banking industry that bitcoin is not a permitted asset for depositories. Adios bitcoin!
Fed Chairman Jay Powell effectively is short an equity put option to the world…