AIIB: US allies pile into starting gate

As the deadline approaches for joining China’s Asian Infrastructure Investment Bank by March 31st, American allies appear to be flocking to sign up for membership. France, Germany, Italy and the United Kingdom — Are confirmed to join the AIIB as founder members. Austria, Luxembourg and Switzerland have agreed  to become non-regional members. In the Asian […]

China’s conciliatory power play on AIIB

As talks continue on the Chinese-backed Asian Infrastructure Investment Bank, China has promised other signers that they will not exercise its veto power on funding projects. This appears to be an attempt by China to placate EU countries fears of joining an Asian version of the World Bank, where their voices are not heard. The […]

China’s push into World Bank/IMF turf

China wants to grab a chunk of the World Bank’s business, and Washington can’t do anything to stop them from muscling in on DC’s Shylock operation. China’s  Asian Infrastructure Investment Bank is looking to put the government’s large Treasury positions to work on large second and third world projects. The new institution has already line […]

Pump up the bubble

As I wrote yesterday, Fed chief Janet Yellen was walking a razors edge. The fed chief needed to lose the word patient, but cannot raise rates anytime soon. So she said the Fed was data dependent — again something I said — but what I did not see coming was when she threw some of […]

How “patient” is Yellen?

Rioting at the ECB’s new Frankfurt headquarters broke out Wednesday morning. I’m not surprised. The Federal Reserve will conclude its two-day meeting this afternoon and will release its statement at 2pm EDT Wednesday. Yellen and company are teetering on the edge of the knife. If the Fed leaves the word “patient” in its statement — […]