Kim left a Beverly Hills gym on Thursday holding a black Birkin, which costs about $150k
Why Do Real Things keep getting more and more expensive?
Because the banks keep getting trillions of dollars of free money from the central banks that they keep pumping into their own pockets and into the risk markets and commodity markets.
Then they award themselves huge bonuses and salaries (for being so smart and talented) that they use to buy up Real Things - as they know the paper money is fast becoming worthless.
Every cent of that printed money dilutes all of your personal wealth. If it were just taken from you through taxes you'd scream bloody murder. But when it's confiscated through inflation induced printing nobody even notices. And when Ron Paul points this out everybody just laughs at him.
And none of it has gone into the productive economy - by the admission of the central banks. That's how they justify each new round of money pumping.
And all of this is happening right out in the open:
Bloomberg, Feb 29:
"European Bank Stocks May Double on ECB Lending Program, Fund Managers Say"
(In Other Words: "Central Banks give money to the Banks so that the Banks' Fund Managers will buy Bank Stocks with Money Given to them by Central Banks." )
By
Kevin Crowley
-
Feb 29, 2012 5:59 AM ET
Italian lenders such as Banca Monte dei Paschi di Siena SpA and Banca Popolare di Milano Scarl will benefit the most from the ECB initiative aimed at helping banks borrow during Europe’s debt crisis, according to Nicolas Walewski, who manages 2 billion euros ($2.7 billion) in European equities at Alken Asset Management LLP. Other top managers from Mandarine Gestion SA and MainFirst Bank AG are betting lenders including BNP Paribas SA (BNP), France’s biggest bank, may rise by as much as 50 percent.
Italian lenders such as Banca
Monte dei Paschi di Siena SpA and Banca Popolare di Milano Scarl will
benefit the most from the ECB initiative aimed at helping banks borrow
during Europe’s debt crisis, according to Nicolas Walewski, who manages 2
billion euros in European equities at Alken Asset Management LLP.
ECB President Mario Draghi “has shown he’s willing to pump
in as much money as needed into the European bank sector,”
Meanwhile:
Bloomberg, Feb 10: "Bernanke Says Credit Still ‘Too Tight’ for Housing, Economy."
(In other words: Banks still not using all this printed money to do anything other than pump up the prices of bank stocks.)
By
Craig Torres
-
Feb 10, 2012 1:41 PM ET
Federal Reserve Chairman Ben S. Bernanke said credit is “too tight” for the U.S. housing market, impeding economic growth.
“Tight credit remains a problem for our economy as well as for the construction industry,” the Fed chairman said in response to an audience question after a speech today to the National Association of Home Builders in Orlando, Florida.
Also in Europe: Date 27.02.2012
European Central Bank data for January have shown that there's
only been a slightly higher willingness of banks in the eurozone to lend
to the private sector. Mistrust among the financial institutions is
still strong.
Eurozone banks are still rather reluctant to lend money to the private
sector, The European Central Bank's monthly data showed on Monday.
Growth in loans to private entrepreneurs picked up only marginally to
just 1.1 percent in January, up from 1.1 percent in the previous month.
U.K. Outlook: QE Extended but Credit Still Tight
 |
By Melanie Bowler in London
February 15, 2012      |
View the Moody's Analytics U.K. Forecast.
- The Bank of England extended quantitative easing in February and will do so again in May.
- Weak growth and spare capacity threaten to drag consumer price growth below the BoE target.
- Despite the bank's aggressive monetary easing, credit markets remain tight, hindering growth.
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