Financial Crisis

[Orac]

Well, well, well, what is this?

Is he just a deluded old twit, which possibly applies to most of the member of the House of Lords, the place should really be disbanded.

!

Transcript here

http://www.publicati...#12021643000172

Or is there something behind it?

I'm guessing he's a deluded old twit, but surely the Peers of the Realm can get to the bottom of it?

A quick google of the name he quotes, Yohannes Riyadi, comes up with this scam warning on the NY Federal Reserve website

Scam Involving Yohannes Riyadi and/or Wilfredo Saurin

November 2007

The Federal Reserve is aware of a fraudulent scam involving individuals using the names Yohannes Riyadi and/or Wilfredo Saurin, or persons claiming to be representatives of these two men. In a typical version of this scam, Mr. Riyadi and/or his delegates falsely claim that they have on deposit with the Federal Reserve Bank of New York several U.S. Treasury Checks issued to Mr. Riyadi amounting to billions of dollars.

The Federal Reserve Bank of New York has been contacted by several brokers and financial institutions worldwide inquiring about the validity of this fraudulent account documentation, which is being offered as collateral for lines of credit or other types of asset based financing. The fraudulent scheme includes multiple documents which purport to have the signatures of various Federal Reserve officials, including Chairman Ben Bernanke.

http://www.ny.frb.or...ng/frscams.html

[Wrong Turn]

Flying,

I also review books on Amazon and order paperback/hardbacks and kindle editions. I've reiewed over 400 books.

Good on your free copy. I am in South East Asia so perhaps that was a reason for the "prime" membership.

[churchill]

Fake Bonds .. Now ..

! Edited February 26, 2012 by churchill

[churchill]

Art Cashin - Bank Run May Accelerate & Short Squeeze in Euro

http://kingworldnews...ze_in_Euro.html

Bank Deposit Flows Show Money Leaking to Germany From Spain: Euro Credit

http://www.bloomberg.com/news/2012-02-24/bank-deposit-flows-show-money-leaking-to-germany-from-spain-euro-credit.html

Edited February 26, 2012 by churchill

[midas]

Just for 12D

! Edited February 26, 2012 by midas

[flying]

Just for 12D

Dang that was good Midas.... It is funny to also hear it from that side of the pond & hear how

exactly the same it is.

You know you watch & realize he is just one.....That is why there will not need to be a bank holiday

Some day guys like this are just going to get together & go down to the bank & do as he said.

Then Martial Law/ FEMA starts in earnest

[midas]

Just for 12D

You know you watch & realize he is just one.....That is why there will not need to be a bank holiday

Some day guys like this are just going to get together & go down to the bank & do as he said.

Then Martial Law/ FEMA starts in earnest

i am not dure anymore flying. I used to think it would happen the way

you describe it but now i think the majority of people are not angry enough

to take radical steps.

I will reserve judgment - for example if the Greeks allow these foreign tax collectors

onto their soveregn territory ( as described in this article ) and then allow them to

take money and leave i think it will prove that the majority will let anything happen.

Yes they maybe angry but not angry enough........?

German tax collectors in Athens

http://www.athensnew...portal/11/53583

Edited February 26, 2012 by midas

[Naam]

I will reserve judgment - for example if the Greeks allow these foreign tax collectors onto their soveregn territory ( as described in this article ) and then allow them to take money and leave i think it will prove that the majority will let anything happen.

goodness gracious Midas! have you finally lost all your marbles? foreign tax collectors will take money and leave? fàcking billions and billions (most of it from Germany) are poured into this tax cheating godforsaken fraudulent beggar country and many more billions will be poured into it till (it's only a matter of time) the country defaults again and the new billions of debt will have vanished like the 360 billions which have vanished already into thin air.

[churchill]

Only billions .. just another zero or two ..... easily done

[churchill]

temperature rising ....

Iran denies Greece oil shipment of 500,000 barrels

http://www.reuters.com/article/2012/02/26/iran-greece-oil-idUSL5E8DQ0GE20120226?feedType=RSS&feedName=marketsNews&utm_medium=twitter&utm_source=twitterfeed

[midas]

I will reserve judgment - for example if the Greeks allow these foreign tax collectors onto their soveregn territory ( as described in this article ) and then allow them to take money and leave i think it will prove that the majority will let anything happen.

goodness gracious Midas! have you finally lost all your marbles? foreign tax collectors will take money and leave? fàcking billions and billions (most of it from Germany) are poured into this tax cheating godforsaken fraudulent beggar country and many more billions will be poured into it till (it's only a matter of time) the country defaults again and the new billions of debt will have vanished like the 360 billions which have vanished already into thin air.

with the same regularity you would expect from eating a bowl of All Bran

every day.... Goldman Sucks are behid that issue as exposed by the BBC

! Edited February 26, 2012 by midas

[churchill]

I will reserve judgment - for example if the Greeks allow these foreign tax collectors onto their soveregn territory ( as described in this article ) and then allow them to take money and leave i think it will prove that the majority will let anything happen.

goodness gracious Midas! have you finally lost all your marbles? foreign tax collectors will take money and leave? fàcking billions and billions (most of it from Germany) are poured into this tax cheating godforsaken fraudulent beggar country and many more billions will be poured into it till (it's only a matter of time) the country defaults again and the new billions of debt will have vanished like the 360 billions which have vanished already into thin air.

with the same regularity you would expect from eating a bowl of All Bran

every day.... Goldman Sucks are behid that issue as exposed by the BBC

!

So Greece is ONE among other European Countries that have been scRewed by GS

[Naam]

temperature rising ....

Iran denies Greece oil shipment of 500,000 barrels

http://www.reuters.c...rce=twitterfeed

should Iran deliver crude for free? what about the announced EU sanctions blocking all Iranian financial transfers? they can be invoked any time.

[Naam]

So Greece is ONE among other European Countries that have been scRewed by GS

NO! Greece is a European country that screwed other European countries with the kind assistance of Goldman Sucks.

[lannarebirth]

I will reserve judgment - for example if the Greeks allow these foreign tax collectors onto their soveregn territory ( as described in this article ) and then allow them to take money and leave i think it will prove that the majority will let anything happen.

goodness gracious Midas! have you finally lost all your marbles? foreign tax collectors will take money and leave? fàcking billions and billions (most of it from Germany) are poured into this tax cheating godforsaken fraudulent beggar country and many more billions will be poured into it till (it's only a matter of time) the country defaults again and the new billions of debt will have vanished like the 360 billions which have vanished already into thin air.

Pretty simple really. If they default, just foreclose on the collateral. Don't have any collateral? Then maybe the debt was mispriced to begin with given the expectations of ability to service same debt. Live and learn. Maybe smarter next time, but that doesn't seem to be the trend I'm observing., No one seems to do their due diligence anymore and why should they if they can pass the pain onto someone else and still collect a bonus?

Edited February 26, 2012 by lannarebirth

[lannarebirth]

temperature rising ....

Iran denies Greece oil shipment of 500,000 barrels

http://www.reuters.c...rce=twitterfeed

Now there's two countries made for each other. Iran can't officially sell oil to some countries due to sanctions it's imposed. Other countries can't officially sell goods to Iran, due to sanctions imposed by the UN and others. Then you've got Greece shippers that will break any sanction just so long as there's a deep enough trench in the sea they can scuttle their ship into afterwards. Collectiong the insurance money afterwards naturally. " We were never there, we weren't carrying any cargo". It is by such means the Baltic Dry Index will come back into meaningfulness over the course of time.

Edited February 26, 2012 by lannarebirth

[churchill]

So Greece is ONE among other European Countries that have been scRewed by GS

NO! Greece is a European country that screwed other European countries with the kind assistance of Goldman Sucks.

Not' a ' but one of a few so the report says ... Which Few ?? Sounds like many of the EU Countries are screwing each other ( or Germany ) with the help of GS

[Naam]

So Greece is ONE among other European Countries that have been scRewed by GS

NO! Greece is a European country that screwed other European countries with the kind assistance of Goldman Sucks.

Not' a ' but one of a few so the report says ... Which Few ?? Sounds like many of the EU Countries are screwing each other ( or Germany ) with the help of GS

"a" country does not exclude that there are others too. but whatever, it's actually none of my business because any bail-out €URos are neither taken from my pocket nor from the pockets of my descendants. initially i was a bit worried. but it turned out that the train is wrecked so slowly that even a small investor like me is able to pick not only a few crumbs of the cake which fall from the table but a few raisins too.

keep up the good job of procrastinating EU! i started to like it.

[lannarebirth]

keep up the good job of procrastinating EU! i started to like it.

Clearly, that's the plan. Give everyone enough notice so that they may hopefully unwind their positions in an orderly fashion. If that continues to be the plan, and investors remain patient, it may well go on another 10 years. That is unless it all comes unravelled one Sunday afternoon. Nah, probably won't happen.

[ronz28]

Meanwhile the economy continues to decelerate in the US as indicated in the latest velocity of money chart from our FED despite other headlines.

https://research.stlouisfed.org/fred2/series/M2V

Lots of money being put into assets or just stuffed into a mattress for a rainy day. Per ECRI, US is heading into recession as indicated by the consumption slowdown, etc.

http://media.bloomberg.com/bb/avfile/News/Surveillance/v3UFCi6Oq.FE.mp3

[Naam]

keep up the good job of procrastinating EU! i started to like it.

Clearly, that's the plan. Give everyone enough notice so that they may hopefully unwind their positions in an orderly fashion. If that continues to be the plan, and investors remain patient, it may well go on another 10 years. That is unless it all comes unravelled one Sunday afternoon. Nah, probably won't happen.

it will take another two months till we know where we stand!

[flying]

US is heading into recession as indicated by the consumption slowdown, etc.

Many of us here in the USA have been saying so for awhile now....

Yet it is an election year so folks who watch TV may have a different view

I dont watch TV

[midas]

when you don't punish people for doing the wrong thing... its too much of a temptation for others to try the same crime-

another MF Global

Tokyo Based Hedge Fund AIJ May Have Lost/Stolen All Customer Pension Fund Money

http://ajw.asahi.com.../AJ201202250037

Edited February 27, 2012 by midas

[Naam]

when you don't punish people for doing the wrong thing... its too much of a temptation for others to try the same crime-

another MF Global

Tokyo Based Hedge Fund AIJ May Have Lost/Stolen All Customer Pension Fund Money

http://ajw.asahi.com.../AJ201202250037

AIJ Investment Advisors Co. transferred huge sums in corporate pension assets it manages to a fund in the Cayman Islands and then moved the money to the Hong Kong account of a major European bank, sources said.

The Securities and Exchange Surveillance Commission has not been able to trace where the money went after reaching Hong Kong.

= pure refined journàsslistic bullshit.

[midas]

= pure refined journàsslistic bullshit.

oh why do you say that ?

Ok how about the New York Times which is even more interesting ...

Money Fund in Japan Told to Halt Operations

At a news conference in Tokyo, Shozaburo Jimi, the financial services minister, said he had ordered a sweeping investigation into the finances of 260 other money management companies in Japan.

and

The suspension comes on the heels of a $1.7 billion accounting scandal at the Japanese camera maker Olympus, which has raised questions about the prevalence of white-collar crime in Japan and the ability of Japanese financial regulators to monitor offenders.

http://www.nytimes.com/2012/02/25/business/global/japan-orders-aij-investment-advisors-to-suspend-operations.html

[Naam]

= pure refined journàsslistic bullshit.

oh why do you say that ?

because of "has not been able to trace where the money went"

the journàsslistic bullshit starts already with "transferred huge sums of assets" and "then moved the money".

how does one transfer "sums of assets"? how does one get "money to move" after "transferring assets" without selling them? these "huge sums" of money disappeared in Hong Kong and "can't be traced"?

GIMME A BREAK! you can't let go a financial fart in Hong Kong or Singapore that can't be traced.

the article (or the translation from Asahi Shimbun) was either compiled by an apprentice or by a totally ignorant person as far as financial transactions are concerned.

[midas]

= pure refined journàsslistic bullshit.

oh why do you say that ?

because of "has not been able to trace where the money went"

the journàsslistic bullshit starts already with "transferred huge sums of assets" and "then moved the money".

how does one transfer "sums of assets"? how does one get "money to move" after "transferring assets" without selling them? these "huge sums" of money disappeared in Hong Kong and "can't be traced"?

GIMME A BREAK! you can't let go a financial fart in Hong Kong or Singapore that can't be traced.

the article (or the translation from Asahi Shimbun) was either compiled by an apprentice or by a totally ignorant person as far as financial transactions are concerned.

well even Nikkei refers to the money " vanishing " !

" The total amount of pension money that apparently vanished under AIJ's watch is still unclear at this time."

http://www.nikkei.asia/e-index.php

[Naam]

well even Nikkei refers to the money " vanishing " !

there's a difference between "vanished" and "apparently vanished".

[Wrong Turn]

A report came out from the ECRI yesterday, forecasting another recession. The ECRI does have a consisten track record. It's calling for a US recession by Fall. On another note, American consumer CC debt is on the rise again.

Credit Card Debt Nears Toxic Levels

Updated: Sunday, 26 Feb 2012, 4:19 PM EST

Published : Sunday, 26 Feb 2012, 4:19 PM EST

(New York Post) - More American households are falling back into the debt hole, this time without the safety net of home values to help bail them out, the New York Post reported Sunday.

Last year, total US consumer debt reached its highest point in a decade, according to a credit card industry observer.

"Now more than ever, families need to work at saving and paying off any outstanding debts," said Howard Dvorkin, a certified public accountant and founder of the credit counseling service Consolidated Credit.

After a few months of reducing credit card debt levels, Dvorkin said, Americans are starting to return to their reliance on debt.

"People made some progress in reducing card debt earlier in the year, but in the last few months, as the stock market started to rise, they started to return to their old ways of charging things," he explained.

In December 2011, the total consumer debt -- which is the combination of non-revolving and revolving debt -- rose by some 9.3 percent to $2.498 trillion, according to the latest Federal Reserve Board numbers.

Read more: http://www.myfoxdc.com/dpps/news/credit-card-debt-nears-toxic-levels-dpgonc-km-20120226_18232559#ixzz1ndATjPne

[churchill]

@lindayueh

'EC President Barroso: EU was unprepared for scale, depth of crisis'

Edited February 28, 2012 by churchill