Corporate Governance:
By John Schroy, on July 7th, 2010 | 
M. A. Gumport of MG Holdings has published the July 2010 edition of the Buyback Monitor, showing corporate stock profits for 275 firms over the period 2000-2010. Without buybacks, share prices for the group now would be at least 5.3% higher (nearly 10% higher after adjustment for foregone interest income).
The lack of attention to protecting long-term investors against the massive fraud of stock buybacks is just one more sign that it will be some considerable time before the US works its way out of the present financial morass.
Euros versus the dollar
By John Schroy, on July 2nd, 2010 | 
The multiplicity of independent central banks is the Achilles heel of the eurosystem. A bank, controlled by the government, in a fiat money environment, that acts as the paying agent for that government, has — in effect — the capability to print money (although not necessarily banknotes).
Imagine, tomorrow the headlines in the Wall Street Journal read “$100 billion is inflationary euros issued without the knowledge of the European Central Bank”. What would be the effect of the news on the value of the euro as a reserve currency?
Faked Reform
By John Schroy, on June 27th, 2010 | 
The immediate cause of the worldwide financial Crash of 2008 was the extensive granting of sub-prime mortgages.
The Dodd-Frank financial reform bill introduced in Title XII, “IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS”, a new, fraud-prone solution to a non-existent problem, the granting of $2,500 loans to middle and low income borrowers.
In combination with other political funds, this program could be an extremely powerful tool for voter fraud. In fact, it is difficult to imagine why else it would be inserted into the Dodd-Frank Act.
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