Financial Crisis

[BlackJack]

interesting graph:

yes i said that here http://www.thaivisa.com/forum/index.php?showtopic=238057&view=findpost&p=4879536

[Naam]

interesting graph:

yes i said that here http://www.thaivisa.com/forum/index.php?showtopic=238057&view=findpost&p=4879536

what you said does not apply neither as far as the figures are concerned nor is capitalisation of banks necessarily considered to be debt. fact is that a number of banks in various countries have paid back injected government capital and in quite some cases profits (for the governments) were realised.

BlackJack, on 2011-11-27 11:20:53, said:

but it now seems that if Germany caps their banks their debt will be worse than USA

[churchill]

It’s All Connected: An Overview of the Euro Crisis

http://www.nytimes.com/interactive/2011/10/23/sunday-review/an-overview-of-the-euro-crisis.html?src=tp

[midas]

The REAL Risk of " Clawback " in the MF Global fiasco and the implications regarding customers of other " institutions ".....

" If a major bank blows up this very same claim, supported in existing Bankruptcy Law with the changes signed by George Bush in 2005, will be used to steal the entirety of your bank account, and if you detect the impending blowup shortly before it happens -- say, 90 days before -- you're still exposed to the risk through clawback! "

http://market-ticker.org/akcs-www?post=198650

Edited December 8, 2011 by midas

[Naam]

" If a major bank blows up this very same claim, supported in existing Bankruptcy Law with the changes signed by George Bush in 2005, will be used to steal the entirety of your bank account, and if you detect the impending blowup shortly before it happens -- say, 90 days before -- you're still exposed to the risk through clawback! "

tough luck for people who keep cash in the U.S. of A. and rely on FDIC cover. but even in "proper" jurisdictions it is not advisable to keep heaps of cash in one bank for an extended period of time. there are ample possibilities to protect cash and still have liquidity immediately available when needed.

[midas]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

Edited December 8, 2011 by midas

[BlackJack]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

[churchill]

What is Germany's vision for Europe?

http://www.bbc.co.uk/news/business-16030374

What about the UK ?

Britain Suffers as a Bystander to Europe’s Crisis

http://www.nytimes.com/2011/12/08/world/europe/britain-suffers-as-a-bystander-to-europes-crisis.html?partner=rss&emc=rss

[midas]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

but honestly BlackJack at the end of the day does it really surprise you? because it doesn't surprise me...

Since 2008 the way the stock market was pumped up totally artificially and they manipulated

so many definitions regarding asset values we should have known what these scumbags were really up to

[Naam]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsight.thomsonreuters.com/Securities/Insight/2011/12_-_December/MF_Global_and_the_great_Wall_St_re-hypothecation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

without any doubt... the Brits are clever. they know that a financial transaction tax of 0.1% would make it rather easy for banksters et al to cheat even more. rumour has it that the Right Honourable Mr. Cameron, Esq. will try hard to abolish U.K. value added tax on sales and services, which is 200 times the proposed "EU financial tax", in order to avoid fraud and cheating.

whereas the stupid German and French...

Edited December 8, 2011 by Naam

[churchill]

What Would Happen If Greece Left The Euro?

http://www.huffingtonpost.co.uk/2011/12/07/eurozone-crisis-how-greece-can-leave-euro_n_1134384.html?ref=tw

[lannarebirth]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsigh...cation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

without any doubt... the Brits are clever. they know that a financial transaction tax of 0.1% would make it rather easy for banksters et al to cheat even more. rumour has it that the Right Honourable Mr. Cameron, Esq. will try hard to abolish U.K. value added tax on sales and services, which is 200 times the proposed "EU financial tax", in order to avoid fraud and cheating.

whereas the stupid German and French...

While I'm not particularly keen on taxes of most sorts I like the idea of this one. I imagine those "Investment Banks" with the computer generated millisecond trades don't particularly like it though, and they've been calling the tune of late, at least on the American side of the pond.

[Naam]

What Would Happen If Greece Left The Euro?

more EURos will leave Greece.

[churchill]

What Would Happen If Greece Left The Euro?

more EURos will leave Greece.

try to leave ...

[Naam]

What Would Happen If Greece Left The Euro?

more EURos will leave Greece.

try to leave ...

if any left by then.

[lannarebirth]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsigh...cation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

It's just too easy....

http://finance.yahoo.com/news/corzine-dont-know-where-firms-122722077.html

[lannarebirth]

"I simply do not know where the money is, or why the accounts have not been reconciled to date,"

I wonder if anyone checked to see if it may have slipped down between the sofa cushions.

[fletchsmile]

" When one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions "

MF Global and the great Wall St re-hypothecation scandal

Securities Law

http://newsandinsigh...cation_scandal/

an absolute scandal -

and now we can see why the UK is not keen financial transaction tax whereas the German and French are.

lets see what happens on Friday

without any doubt... the Brits are clever. they know that a financial transaction tax of 0.1% would make it rather easy for banksters et al to cheat even more. rumour has it that the Right Honourable Mr. Cameron, Esq. will try hard to abolish U.K. value added tax on sales and services, which is 200 times the proposed "EU financial tax", in order to avoid fraud and cheating.

whereas the stupid German and French...

While I'm not particularly keen on taxes of most sorts I like the idea of this one. I imagine those "Investment Banks" with the computer generated millisecond trades don't particularly like it though, and they've been calling the tune of late, at least on the American side of the pond.

Needs to be adjusted for various products. UK for example already charges 0.5% stamp duty on most main board equities. US charges 0.00x% on sales of equities only - don't know why the US govt has never really tapped this for more.

While 0.5% may be palatable on say equities. (Personally I think a bit high). 50bp is more than the spreads or profits on some trades, so it would need a lot more thought and I'm not sure the politicians realise that, nor understand the implications. But in principal not a bad idea, and if consistent across global markets, so say a derivative in US is same as UK, Europe etc.

Costs would inevitably be passed on to clients and customers tho

[midas]

The Global Crisis Reaches China

Unrest Spreads as Growth Stalls

http://www.spiegel.de/international/europe/0,1518,802308,00.html

[Naam]

The new global crisis has reached China.

a worker named Liu* is marching back and forth... with about 300 colleagues

Some factories are laying off workers

Debt problems in Europeare starting to dim prospects

We haven't received a single new order in nine days... salesman Porsche dealership.

In October, people in China bought roughly 7 percent fewer cars than in September

outraged apartment owners... Shanghai, protesting the decline in the value of their property

Wang feels he was deceived about his apartment's resale value. "What are they thinking?" he demands. "Surely they can't just erase a portion of my assets?" :lol:

furious apartment owners went to the real estate company's salesroom to protest the drop in value. :lol:

The economic situation now is far more complicated than it was after the 2008 global financial crisis, says economist Lin Jiang.

[ajarnpot]

What Would Happen If Greece Left The Euro?

http://www.huffingto...384.html?ref=tw

more interesting what if the germans left the Euro

[BlackJack]

interesting graph:

yes i said that here http://www.thaivisa.com/forum/index.php?showtopic=238057&view=findpost&p=4879536

what you said does not apply neither as far as the figures are concerned nor is capitalisation of banks necessarily considered to be debt. fact is that a number of banks in various countries have paid back injected government capital and in quite some cases profits (for the governments) were realised.

BlackJack, on 2011-11-27 11:20:53, said:

but it now seems that if Germany caps their banks their debt will be worse than USA

debt is debt is debt is debt

and then paid for by fiat or worthless currencies

like i said if Germany capped their banks their debt would top the list

if you believe the figures of the lying cheating bankster then you are easily led

[churchill]

Merkosy .. sign on the dotted line or else ..

titanic about to set sail ...

Anyone else want to get off

Nigel Farage: Escape Euro Prison!

German Coast guard trainee

sounds QE'ish to me ..

'In a sign of rising concern over the debt crisis, however, the ECB also announced a cut in the base interest rate to 1 percent, as well as several other measures to bolster Europe's economy and financial system. Banks can now borrow unlimited amounts of ultra-cheap money for up to 36 months and rules on collateral for these loans will be loosened by making lower rates on mortgages and bank loans acceptable. Rules on how much capital banks must hold in reserve with the ECB were also relaxed, which will free up the banks to lend and invest more.'

http://www.spiegel.de/international/europe/0,1518,802688,00.html

Edited December 9, 2011 by churchill

[churchill]

Insularity Cuts 2 Ways for Britain

http://www.nytimes.com/2011/12/10/world/europe/10iht-letter10.html?ref=europe

Edited December 9, 2011 by churchill

[ronz28]

Here is what happens when new technologies like fracking meet an escalating commodity price like natural gas http://chart.ly/c7j6qm2 even while Gold prices escalated. Some day people will recognize this and lower their energy costs by switching to natural gas or take advantage of a newer technology that may be even cheaper because they they need to spend less due to losses during the financial crisis.

Now, if silver or gold can only be produced cheaply like the claims for copper from Nickel-hydrogen cold fusion http://www.journal-of-nuclear-physics.com/?p=473 An alchemists dream but a gold bug's nightmare.....

[Naam]

Anyone else want to get off

good riddance for those who are getting off. too many cooks spoil the food... especially those who think they can replace cooking skills with a big mouth

[Naam]

debt is debt is debt is debt

and then paid for by fiat or worthless currencies

like i said if Germany capped their banks their debt would top the list

if you believe the figures of the lying cheating bankster then you are easily led

there's that story of a blind man who tried to describe the colours of a sundown to his deaf friend...

[GMoney]

Kyle Bass: Japan beyond the point of return?

[ronz28]

Customers create jobs not the fat cats. http://www.businessinsider.com/rich-people-do-not-create-jobs-2011-12

Based on a fat cats position to take $10 million from the economy per year and the Bush tax cuts a fat cat can take home more than $10 million a year of income. On this income, he says, he pays an 11% tax rate. (Presumably, most of the income is dividends and long-term capital gains, which carry a tax rate of 15%. And then he probably has some tax shelters that knock the rate down the rest of the way).

If the fat cat wouldn't take so much for his pay check, bonuses, sweetheart deals with other companies he owns, golden parachutes from multiple companies, etc. and paid more out to employees and taxes, then his employees would be able to afford to purchase more and expand the economy ultimately increasing the wealth of the fat cat without killing off the golden goose= its customers.

Even Henry Ford practiced that and he was an engine for growth in the US economy and a legacy for future generations.

[Jingthing]

Enough with the wild conspiracy theories. Finally, some straight talk about the FED.

http://www.washingtonpost.com/opinions/fed-bashing-gone-wild/2011/12/09/gIQA6sMDoO_story.html

Fed bashing gone wild

The further we get from 2008, when the American economy flirted with another Great Depression, the more people forget what happened and create stories that satisfy some political, ideological or journalistic urge. Among the biggest losers in this revisionism is the Federal Reserve.