Posts Tagged ‘bank’

It’s Only Your Money Until The Globalists Say It’s Theirs

July 29, 2017

The EU (Euronazi) bureaucrats have come up with a splendid new scheme to fill the hole in the EU budget that is already threatening the future of the bloc and will go critical after Brexit which will leave Germany as the only net contributor to the budget. They are going to claim that all the money in the EU belongs to the EU. If there is the slightest hint that a government has a problem servicing its debts or a bank, any bank in the EU, does not have enough capital to meet its obligations, you had better get your money out yesterday.

In fact it might be a good idea to get your money out and put it in offshore investment trusts anyway.

Although it’s your money, the EU have decided they have the right to freeze Personal Accounts to prevent financial problems blossoming into crisesfreeze Personal Accounts to prevent financial problems blossoming into crises. And one they have taken control of your accounts, they will also have the right to do what they like with your money.

Or to put it in the anodyne, non scary language bureaucrats prefer:

European Union states are considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs, an EU document reviewed by Reuters revealed.

The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumors of a bank being in trouble.

The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender.

Giving supervisors the power to temporarily block bank accounts at ailing lenders is “a feasible option,” a paper prepared by the Estonian presidency of the EU said, acknowledging that member states were divided on the issue.

EU countries which already allow a moratorium on bank payouts in insolvency procedures at national level, like Germany, support the measure, officials said.

“The desire is to prevent a bank run, so that when a bank is in a critical situation it is not pushed over the edge,” a person familiar with German government’s thinking said.

The Estonian proposal was discussed by EU envoys on July 13 but no decision was made, an EU official said. Discussions were due to continue in September. Approval of EU lawmakers would be required for any final decision.

Under the plan discussed by EU states, pay-outs could be suspended for five working days and the block could be extended to a maximum of 20 days in exceptional circumstances, the Estonian document said.

Spooking Customers

Charlie Bannister of the Association for Financial Markets in Europe (AFME) says “We strongly believe that this would incentivize depositors to run from a bank at an early stage.” Why Might Customers Want to Run?

Here are a trillion reasons: There are over €1 trillion nonperforming loans (both government and private debt) held by EU commercial and central banks right now and the figure is growing every month. Non performing loans are those on which no interests or less that the contracted rate of interest is being paid.

Non-Performing Loans
Italy, Greece, Spain, Portugal, and Ireland have a combined €606 billion in non-performing loans.

The entire European banking system is over-leveraged, under-capitalized, and propped up by QE from the ECB. Simply put, the EU banking system is insolvent.

That the EU has to consider such drastic measures proves the point.

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Europe’s Bank Crisis Arrives In Germany: €29 Billion Bremen Landesbank On The Verge Of Failure

… yesterday we observed a surprising development involving Deutsche Bank, namely the bank’s decision to quietly liquidate some of its shipping loans. Reuters reported, “Deutsche Bank is looking to sell at least $1 billion of shipping loans [a market sector] whose lenders face closer scrutiny from the European Central Bank.

If You Look At How Fast Global Trade Is Unravelling, You’ll Get Dizzy

Governments constantly make positive noises about the health of their economies although most people who are in work have felt no improvement on the position they were in after the crash of 2008. Wagest are stangnant, employment has reduced somewhat (see below) and while the banks are printing money and the super rich are widening the gap between themselves and ordinary people faster than ever, the real situation is frightening.

All Gone” – The Gold Scandal That Goes To The Very Top

Best known known for luxury shopping, over-the-top architecture including the world’s tallest building, a lively social scene, and a facade of secular open – mundedness, Dubai ought to be even better known for the underbelly of corruption and unrestricted criminality among the billionaires and oligarchs who quietly dominate dominate the global power and financial structure and have set up bases there because the Dubai has very few laws covering offshore activities of financial traders.

A Song Of Servitude (poem)

This poem (sort of) was inspired by a news story about increasing personal debt in the developed nations

De-Dollarization Accelerates As More Washington “Allies” Follow Australia To China-Led Bank

For many years the dollar has been the currency in which the world’s nations settled cross-border transactions and the so called petrodollar became the only currency in which oil could be traded. In recent years however, as other nations, particularly the BRICS group, Brazil, Russia, India, China and South Africa, the leading nations outside the dominant US / European group, have been making moves to end the domination of the US dollar.

Why Iceland Recovery Is Being Ignored In Mainstream News
Iceland is a small country with less that half a million people so is not a good comparison with Britain. It’s recovery from near bankruptcy in the wake of the 2008 financial crisis however is due to the rejection of politically correct, globalist politics so in that light it serves to illustrate that to suggest Britain (60 million people) cannot survive outside the EU is just globalist scaremongering.

It’s Staring To Dawn On Economists That The Developed World’s Economic Problems Are Structural.

When we look back from 2025, it will be painfully obvious that central bank policies exacerbated the systemic crises that brought down the global financialization machine. After all, “saving” the world from financial collapse 0f 2008 was relatively quick work; so what problems beyond imminent implosion have the central banks policies solved in the past 6 years

New World Order IMF Advocates Taking Pensions & Deferring Redemption of Gov’t Debt.

Global Capitalism my arse, the dominant economic system is Naziism pure and simple. Who but Nazis or Communists (and they are truly different faces of George Orwell’s Oligarchic Collectivism) whould propose stealing the pension funds we poor punters have worked all our lives to accumilate to pay for the stupidity, selfishness and irresponsibility of our masters?

Financial Crisis? The Dow Has Already Fallen More Than 1000 Points From The Peak Of The Market

The dramatic falls in world wide stock markets over the past week hows that the Daily Stirrer finance expert was correct in predicting this, such recovery in the global economy as has happened since 2008 has been the result of printing money and manipulating the markets. This latest action is part of a massive heist by the bankers to drain the value from our savings and pensions

Corporate Banker’s $1.5 Quadrillion Conspiracy: EU Accuses 13 Banks Of Operating A Derivative Trading Cartel

Debt, how much of a threat to ordinary people is it? The truth might frighten you which is why bank bosses, government leaders and media pundits are not eager to tell the truth. What can we do? Not much in the short term, in the long term, reclaim the sovereignty of our nations and our individual sovereignty and tell the world view thinkers their crazy ideas have maxed out their credit

Was The Banks’ Cypriot Smash And Grab A Rehersal

When I started here at Bubblews back in early March the big story was the financial meltdown in Cyprus and the international response that shocked the world. The political leaders and international bankers whose incompetence and irresponsibility caused …

Now We Know What Those Naughty Bilderbergers Were Plotting

Left behind after the Bilderberg group check out of The Grove Country House Hotel was the remnant of a presentation promoting the Thompson Reuters Online Trading Platform. What was that about? Well we know now, read the article below

The Planned Green Holocaust, Depopulation Needed To Save The Planet

The science tits, The Watermelons (green on the outside, red on the inside) and even the raffia mafia are happy to talk about Carbon Dioxide but nobody wants to talk about the biggest threat to human civilization, overpopulation. Some hope the surplus billions will go away, others have a much more brutal final solution in mind.

War On Cash Begins, It Is Not About Keeping You Or Your Money Safe From Muggers

Government and big busin.ess has been nudging us towards abandoning cash for electronic money for a long time. Now the Frech government has become the first to move towards making cash illegal (because government can’t keep tabs on what you do with your money when cash passes from hand to hand …

Holy City (poem)
Chasing Bubbles

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Did The Bank Of England Just Admit Financial Markets Aren’t "Real"?

August 24, 2015

On a day that has seen global financial markets take a roller coaster ride, which is not the fault of greedy bankers but is the latest move in the currency war being fought between the USA led developed world and the eastern bloc and emerging powers led by Russia and China, we spotted a story that reveals the truth about ‘markets which is that they are all rigged and the eastern bloc are better tat playiong the system than the west..

The Bank of England has announced an “Open Forum” to be held on November 11, with the title: Building Real Markets for the Good of the People. No, I’m not making this up. Here’s a screenshot from the BOE website:

This might be good news for people with pensions and savings, but don’t depend on it – the corruption in the financial system is very deep. At best we can hope to see curbs on the algorithm driven high frequency trading that has served investment bankers and financial traders so well and the public so poorly.

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"We Are Not At War With ISIS Or Russia, We Are At War With The ECB": says Grillo

November 14, 2014

People sometimes ask me why we gave up making this blog funny or satirical most of the time. The answer is simple: While the world situation is highly dangerous at the moment our western leaders are such inept clowns it is hard to make fun of them as they do increasingly accurate impressions of The Three Stooges.

Beppe Gillo, leader of Italy’s Five Star movement (the Italian UKIP) is a comedian and he agrees that there is no point slapping a pie in the faces of Obama, cameron and Hollande (the FUKUS axis leaders) when left to their own devices they will do a Norman Wisdom style stumble and fall face first into a cowpat whenever a situation that requires a modicum of intelligence is required.

Beppe Grillo (Source)

Grillo also feels, as this blog does, that wile our leaders beat the drum for war in Ukraine, war in Syria, war everywhere, the real war we are involved in right now is with our own elites.

Italy’s Grillo Rages “We Are Not At War With ISIS Or Russia, We Are At War With The ECB”

Next week, Italy’s Beppe Grillo – the leader of the Italian Five Star Movement – will start collecting signatures with the aim of getting a referendum in Italy on leaving the euro “as soon as possible,” just as was done in 1989. As Grillo tells The BBC in this brief but stunning clip, “we will leave the Euro and bring down this system of bankers, of scum.” With two-thirds of Parliament apparently behind the plan, Grillo exclaims “we are dying, we need a Plan B to this Europe that has become a nightmare – and we are implementing it,” raging that “we are not at war with ISIS or Russia! We are at war with the European Central Bank,” that has stripped us of our sovereignty. (from Zero Hedge)

Beppe Grillo said yesterday:

It is high time for me and for the Italian people, to do something that should have been done a long time ago: to put an end to your sitting in this place, you who have dishonoured and substituted the governments and the democracies without any right. Ye are a factious crew, and enemies to all good government; ye are a pack of mercenary wretches, and would like Esau sell your country for a mess of pottage, and like Judas betray your God for a few pieces of money. Is there a single virtue now remaining amongst you? A crumb of humanity? Is there one vice you do not possess? Gold and the “spread” are your gods. GDP is you golden calf.

We’ll send you packing at the same time as Italy leaves the Euro. It can be done! You well know that the M5S will collect the signatures for the popular initiative law – and then – thanks to our presence in parliament, we will set up an advisory referendum as happened for the entry into the Euro in 1989. It can be done! I know that you are terrified about this. You will collapse like a house of cards. You will smash into tiny fragments like a crystal vase. Without Italy in the Euro, there’ll be an end to this expropriation of national sovereignty all over Europe. Sovereignty belongs to the people not to the ECB and nor does it belong to the Troika or the Bundesbank. National budgets and currencies have to be returned to State control. They should not be controlled by commercial banks. We will not allow our economy to be strangled and Italian workers to become slaves to pay exorbitant interest rates to European banks.

The Euro is destroying the Italian economy. Since 1997, when Italy adjusted the value of the lira to connect it to the ECU (a condition imposed on us so that we could come into the euro), Italian industrial production has gone down by 25%. Hundreds of Italian companies have been sold abroad. These are the companies that have made our history and the image of “Made in Italy”.

An Avalanche Of Upshitcreekness

July 31, 2014

argentina default

We are kind to our readers here at Boggart Blog, we give you lots of new and very amusing words like upshitcreekness to play with when you are trying to describe the state of the world. Upshitcreekness describes no only how far up shit creek we really are, the depth of the shit beneath our canoe, the conspicuous lack of a paddle and the stinkyness of our surroundings.

The reason we invented upshitcreekness today is to adequately describe the situation in high finance following the debt default by Argentina and the collapse of Portugal’s Banco Espirito Santo this week. “But do those affect us, Ian?” You might well ask.

Not directly or immediately, but they demonstrate that in spite of all the blether from mainstream media, the debt crisis and the fragility of banks’ balance sheets has not gone away. There is no recovery.

“But haven’t Whitehall and Washington been pumping out data that shows a strong economic recovery is underway, everybody now has fourteen jobs, wages are rising and prices are falling and everything is hunky dory because that nice Mr. Rothschild lent us the money to sort it all out.

Well the numbers that they crank out to make everybody feel good are almost as phony as the numbers that the Argentine government has been cranking out for the past few years. Cristina Fernández the government finance chief says well, we only have 10% inflation. But everybody knows that a broad snapshot shows for necessary purchases it’s 30 to 40%. And here they say we have 2% inflation. I would say that based on a household budget (which excludes luxury goods that are being heavily discounted because nobody is buying) inflation is realistically in the 8-10% range here, and in the USA it’s going much higher because the US$ has been dropped by many trading and oil producing nations as the currency of bilateral trade. This has been going on for a while but contracts are made eighteen months to two years in advance so the effect does not kick in at once.

If we observe the actual economy rather than the fiat money and quantitative easing economy it has been obvious for a while that the upshitcreekness was being masked by printing money and statistical prestadigitation.

The growth is all a fantasy. It’s all a result of the assumption that there is no inflation, when there really is because what we have is inflation masquerading as economic growth. But the bottom line is the economy is really contracting, although jobless figures are massaged by simply not counting the long term unemployed and counting those in part time jobs as having a whole job and not a fraction of a job, the labour force is actually shrinking. GDP may be growing but that’s only because the government keeps printing money and handing it out in benefits, there is actually less economic activity. That’s why we’re using less energy, that’s why the people’s standard of living is going down, and real incomes are falling and job opportunities are disappearing. It’s because we’re in a recession, a depression even, and no one wants to admit it.

And as in 1939 the leading economic powers see war as a way out, which is why the USA and its allies are madly angling for war in Ukraine.

And if there’s a war we’re fucked, I’m fucked, you’re fucked, we’re all fucking fucked. That’s what is meant by Upshitcreekness.

Well that’s the external threats dealt with, noe we need to deal with the enemy within (the EU)

If The Government Does Not Keep Junkhead Junckers Hands Off The City, we can say gooodbye to nationhood.

Yes, thanks to economic mismanagement by Conservative and Labour governments since the 1960s we are far too dependent on our financial services business. And the money hungry bureaucrats of the EU have coveted the revenue that brings in for many years.

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Mass Immigration Means Failing Hospitals, Schools And Overcrowded Cities

America’s Dumbest Move Yet: Hijacking A Foreign Bank

July 25, 2014

Has Quentin Tarentino been given a role in the US Government. Ten dark suited men strolled into the headquarters of FBME bank in Cyprus last Friday (18 July) afternoon and took it hostage. It must have looked like a scene from a Tarentino movie. And given the surrealism of how the east / west or to be precise USA / Russia conflict is escalating, maybe it was.

The Reservoir Dogs lookalikes were from the Central Bank of Cyprus (CBC). And they took control of FBME because an obscure agency within the US government recently issued a report accusing the bank of laundering money. On what grounds? You might well ask. It just so happens that FBME, and Cyprus in general, is where a lot of wealthy Russians hold their vast fortunes.

Bear in mind, there has been no proof that any crime was committed by FBME nor have reasonable grounds for suspicion been demonstrated. There was no court hearing. It wasn’t even the government of Cyprus who accused them of anything. No charges were read, no evidence produced ( although the men in suits might have said, “The American government says you’re guilty and we have to believe them because they’re not Russian,” as they did in connection with another of last week’s big news stories.

There was just a generic report penned by some bureaucrat 10,000 miles away.

Funny thing—when HSBC got caught red-handed laundering funds for a Mexican drug cartel last year, the US government gave them a slap on the wrist. HSBC got off with a fine.

Yet when the US government merely hints that FBME could be laundering money, the bank gets taken over at gunpoint.

Welcome to warfare in the 21st century. It’s not about battleships and ground troops anymore but bank accounts and bond yields.

How big an error is this compared with all Obama’s other recent fuckups such as Syria, Ukraine, Iraq, Afghanistan, Yemen and the rest. Massive. By terrorizing Russian interests, the Obama administration is begging the rest of the world to reconsider their misplaced trust in the United States.

All these foreign countries really have to do if they want to retaliate is start dumping their US Treasuries (which they are doing). Or simply stop letting the debt roll over when the notes mature. That will cause catastrophic consequences in the United States. Interest rates will soar, inflation will kick in, and the government will be even closer to default than it already is.

Inexplicably, Emperor Obama is practically begging the world to do this by reiterating his attitude filled pledge, “I was elected, I can do what I like.” It’s gobsmackingly arrogant. The US Republican’s response is tremendously stupid, they seem to think letting Obama screw up will make them popular. They will learn they world has not forgotten the Bush administration.

What Obama is doing is like the economic warfare equivalent of Napoleon and Hitler pompously throwing their already overstretched forces into a third front in Russia.

And neither Napoleon nor Obama gave the slightest consideration to the big picture consequences.

Here’s a funny thing about this story. My link to Yahoo News (above) is reliable enough but the original news report published in Cyprus News of Nicosia has been taken off line.

Shite To You Barclays

July 3, 2014

Tabloid and many online news sites today carry a report of a man who walked into Barclays Bank, Andover, made several non monetary deposits and calmly walked out.

Staff were as mystified as they were disgusted by the middle aged mans antics, we we must assume had been on laxatives as he managed to lay Richards in several places around the branch. Described by staff as “looking well to do” although he was wearing shorts and sandals, said nothing by way of explanation for his protest nor did he carry any placards, he just sidled in, shat and shimmied out wearing a smug grid.

Staff said the bank stank so badly they had to close so that the mess could be cleaned up.

A police spokesman, appealing for witnesses said the force suspect the phantom plopper is involved in the brown economy.

Russia today

Obama’ s Xenophobic Administration Targets British Banks Again

August 8, 2012

Once is happenstance, twice is coincidence, three times is enemy action – James Bond

It sounds like something from a conspiracy thriller novel; an obscure but ambitious bureaucrat tries to catch the attention of his xenophobic and anti – british bosses in the regime by pinning a sanction – busting terrorist money laundering wrap on a mighty global bank. Will he succeed thus destabilising the global banking system and ensuring the corrupt and self serving bankers who have his own nation’s political establishment in their pockets emerge stronger and more untouchable?

Benjamin Lawsky is the superintendent of the New York States Department of Financial Services. He was once chief of staff to New York state governor Andrew Cuomo, so he knows his way around politics and is well connected. He has taken on Standard Chartered, making as yet unsubstantiated allegations that the bank was involved in laundering $250 billion in oil revenues (nice round number that) for the ayatollahs of Tehran.

Lawsky branded the globally respected British bank a “rogue institution” and insisted that it explain “these apparent violations of law” (interesting that he doesn’t seem sure whether they were violations or not) between 2001 to 2010. The bank has hit back hard, insisting that Lawsky not only based these charges on its own voluntary disclosures to the US authorities but also that he has got the law wrong.

We can safely leave that one to the lawyers but what is intriguing about this business is – as Citybriefing has pointed out – Superintendent Lawsky’s job description includes “keeping New York on the cutting edge as the financial capital of the world.” Could there be an agenda at play here? Could Lawsky be not just battling for truth and justice – that goes without saying – but also for Wall Street?

A bit of a pattern seems to be developing here. Three major British banks – Barclays, HSBC and now Standard Chartered – have fallen foul of US regulators in the space of a month. Coincidence? See above.
Some people have a very rose tinted view of how capitalism works. So what kind of bank thinks Tehran is more important than Wall Street?

Well, probably one that is seeking to maximise profit? What kind of bank launders money for Mexican drug dealers? What kind of bank illegally manipulates interest rates? What kind of bank bets small savers nest eggs on dodgy bundles of sub prime mortgage debt. And it is not just banks. What kind of company dumps contaminated waste into the sea or into the local river? What kind of company pays dairy fasrmers less than the production cost for their milk and gioves itself a 300% mark up?

What kind of company takes shortcuts that risk environmental catastrophe if things go wrong? What kind of company hacks into the mobile phones of murdered school girls? What kind of company stashes billions in tax havens to avoid having to pay a contribution to the society from which it benefits? What about arms manufacturers selling murderous weapons to brutal dictators?

Both the US and UK governments have done deals with the likes of Gaddafi, Saddam, the Saudis, the Israeli’s etc. They have backed military coups against democratically elected governments and provided them with the weapons and expertise to use against their own populations. The American’s are in no position to lecture anyone on breaking sanctions and dealing with dictators.

And we notice that no American regulator has so far tried to punish China for continuing to buy Iranian oil in contravention of American sanctions.