Author: Capitalist

Chicago Mayor Emanuel Pushes Moody’s To Rescind Junk Rating Ahead Of $1.2 Billion New Issue

One week before Chicago is set to sale $ 1.2 billion in new debt, it has been revealed that Mayor Rahm Emanuel has been putting pressure on Moody’s, the only rating agency to have a junk-rating on the city’s general obligation debt, to rescind their rating.  According to a letter Emanuel sent to the CEO of Moody’s, the Chicago Mayor has grown concerned that the “Moody’s rating methodology and agenda are far from objective and independent.”  Per Bloomberg: Mayor Rahm Emanuel, a Democrat who pushed through a record tax increase to shore up the city’s finances, asked the company...

Read More

To “Prevent Public Panic”, Beijing Orders Banks To Keep Capital Outflow Curbs Secret

China is so concerned about the ongoing surge in capital outflows that its forex regulator, SAFE, has taken the unprecedented step of ordering banks to keep its instructions about curbing capital outflows secret and also to ensure that research analysts do not publish any negative views about the yuan according to Reuters.  According to bankers from local and foreign banks, both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines in the yuan.  With the yuan devaluaing by 6% against the dollar last year as a result of hundreds of billions...

Read More

Soros Group Vows To Stay In Hungry Despite Plans For Government Crackdown On NGOs

Submitted by Joseph Jankowski via, The Open Society Foundations has vowed to continue operations inside of Hungary despite plans from the country’s ruling party to crackdown on NGOs funded by the Hungarian-born George Soros. Hungary plans to use “all the tools at its disposal” to “sweep out” NGOs funded by Soros, which “serve global capitalists and back political correctness over national governments,” Szilard Nemeth, a vice president of the country’s ruling Fidesz party, told reporters on Tuesday. “I feel that there is an opportunity for this, internationally,” because of Trump’s election victory, state news service MTI reported Nemeth as saying....

Read More