Money laundering & Bitcoin, Macroeconomics w/ Mr. Axel Merk, and Abby Martin talks banker suicide
Money laundering in the age of bitcoin. When HSBC was found guilty in 2012 of laundering billions for terrorist organizations, no one spent time in jail. But Charlie Shrem, the CEO of BitInstant, was arrested by federal authorities last week for allegedly laundering more than one million dollars’ worth of Bitcoin and today, he's sitting in jail. Erin asks does this make sense?
Axel Merk, the president and CIO of Merk Investments and manager of Merk Funds, joins us to talk about Europe, currencies, and emerging markets. Merk argues that the weak euro helps German exports dramatically, despite having to prop up peripheral countries. He also explains why he thinks that currencies are the least volatile assets when compared to equities and bonds.
Then, Polly Boiko reports on why so many houses are sitting empty on The Bishops Avenue, one of London’s most expensive streets. In the midst of a housing shortage in Britain, this has become a symbol of the brick and mortar crisis.
This week’s best clips bring a range of opinions about growth, the Fed, and inflation. Warren Mosler looks at how personal income growth has slipped and what effect that has on growth in general. David Stockman criticizes the money-printing policies of Larry Summers and argues that the Fed needs to get out of financial markets. Finally, Keith McCullough tells us to get rid of the Keynesian economic textbook and gives us his view on inflation in the US economy.
Finally, the Big Deal looks at a string of recent suicides by financial professionals around the globe and explores the possible reasons why financial professionals might take their lives. Erin sits down with Breaking the Set host Abby Martin to discuss.
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