Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Tue Apr 05, 2011 10:45 pm Post subject:
US Military Industrial Complex's big gun is being held to Obama's head tonight.
What exactly is written above the signature they are extracting from him I wonder?
A HOT new TV reality show brought to you by the US Federal Reserve Banking System and your friendly Wall Street Investment Banks - [by Leesa Stanion /STANION STUDIOS] Bait and Switch TV: Investigative Satire (Episode/Show 2) WHO'S AFRAID OF THE BIG BAD BANK? - AN INVESTIGATION OF THE FEDERAL RESERVE & BANKING IN AMERICA. A new internet TV channel about CONTROVERSY
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Mon Apr 11, 2011 10:26 pm Post subject:
Why Iceland Voted ‘No” to the Diktats of the Creditor Banks
by Prof. Michael Hudson - Global Research, April 11, 2011
About 75% of Iceland’s voters turned out on Saturday to reject the Social Democratic-Green government’s proposal to pay $5.2 billion to the British and Dutch bank insurance agencies for the Landsbanki-Icesave collapse. Every one of Iceland’s six electoral districts voted in the “No” column – by a national margin of 60% (down from 93% in January 2010).
The vote reflected widespread belief that government negotiators had not been vigorous in pleading Iceland’s legal case. The situation is reminiscent of World War I’s Inter-Ally war debt tangle. Lloyd George described the negotiations between U.S. Treasury Secretary Andrew Mellon and Stanley Baldwin regarding Britain’s arms debt as “a negotiation between a weasel and its quarry. The result was a bargain which has brought international debt collection into disrepute … the Treasury officials were not exactly bluffing, but they put forward their full demand as a start in the conversations, and to their surprise Dr. Baldwin said he thought the terms were fair, and accepted them. … this crude job, jocularly called a ‘settlement,’ was to have a disastrous effect upon the whole further course of negotiations …”
And so it was with Iceland’s negotiation with Britain. True, they got a longer payment period for the Icesave payout. But how is Iceland to obtain the pounds sterling and Euros in the face of its shrinking economy. This is the major payment risk that is still unaddressed. It threatens to plunge the krona’s exchange rate........
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sat May 21, 2011 10:59 pm Post subject:
The vulture funds of death
May 21, 2011 - South China Morning Post
Goldman Sachs, Deutsche Bank and JPMorgan Chase, which bundled and sold billions of dollars of mortgage loans, now want to help investors bet on people's deaths.
Pension funds sitting on more than US$23 trillion of assets are buying insurance against the risk their members live longer than expected.
Investment banks see this as an opportunity to package that risk into bonds and other securities and create a new market for those willing to bet on life-expectancy rates. If pensioners die sooner than expected, investors profit. If they live longer, investors must compensate the pension fund for the additional costs it faces.
The hard part: finding buyers willing to take on the bets that may take 20 years or more to play out.
"Banks are increasingly looking to offer derivative solutions," said Nardeep Sangha, 43, chief executive officer of Abbey Life Assurance, a London-based Deutsche Bank unit that helps pension funds manage the risk of retirees living longer than expected. "Making the long maturity of the risks palatable for investors, including sovereign wealth funds, private-equity firms and specialist funds, is the challenge."
As insurers reach the limit of how much pension-fund liability they are willing to shoulder, companies such as JPMorgan and Prudential last year set up a group aimed at establishing and standardising a secondary market for so-called longevity risks.
They are also developing indexes that measure mortality rates and securities to let pension funds pay fixed premiums to investors in return for coverage against major deviations from projections.
Swiss Re, the world's second-biggest reinsurer, sold the world's first longevity bond in December in what it called a "test case" to sell risk to the capital markets.
Goldman Sachs and Deutsche Bank have set up insurance companies that promise to pay pensions if retirees live beyond a certain age. They typically receive a portion of the pension plan's assets in return. The banks, along with Morgan Stanley, Credit Suisse and UBS, are looking for ways to offer this risk to investors.
"Ultimately, reinsurance capacity for longevity risks will run dry, and that's why it's imperative that as the market grows and develops it is able to bring in new types of risk-takers," Sangha said.
"The obvious channel is the capital markets."
Medical advances and healthier lifestyles have made predicting life spans more difficult for pension funds. Life expectancy in the United Kingdom is increasing by one to three months every year, according to Dutch insurer Aegon. Every year of additional life expectancy typically adds as much as 4 per cent to future pension requirements, Aegon said in a report in March.
Pension funds can hedge against life-expectancy risk by transferring assets to an insurer or other counterparty that promises to pay some or all of the future liabilities.
Last year, GlaxoSmithKline, the UK's biggest drug maker, became the 10th FTSE 100 firm to buy insurance on about £900 million (HK$11.3 billion), or 15 per cent, of its UK pension obligations. That means Prudential, the UK's largest insurer, rather than the pension fund, will pay some GlaxoSmithKline pensioners should they live longer than expected.
"We're seeing more and more sophisticated mechanisms being offered," said Bill Galvin, CEO of the UK's Pensions Regulator. "From a regulatory perspective, we are concerned to ensure that trustees understand the extent to which longevity risk has been passed from their scheme, and the precise shape of any residual risk."
The UK is the world's biggest market for insuring pension liabilities after a change in accounting rules in 2004 forced companies to include pension plans on their balance sheets, increasing the volatility of earnings.
Since then, £30 billion of liabilities have been insured, about 3 per cent of the total outstanding, according to estimates by Hymans Robertson, a London-based pension consultant.
Banks and insurers completed a record £8.2 billion in longevity-risk transfers last year. Goldman Sachs-owned Rothesay Life sold the most pension-plan insurance in 2010, while Deutsche Bank's Abbey Life completed the biggest swaps deal.
Investors may be attracted to betting on life-expectancy rates because longevity trends are not linked to movements in equities, bonds or commodity markets, said David Blake, director of the pensions institute at Cass Business School in London, who has worked with JPMorgan on the derivatives.
The complexity and risk involved in longevity assets with timelines of more than 20 years means banks are looking to create bonds that offer 5 per cent to 9 per cent in annual returns, according to Guy Coughlan, former head of longevity structuring at JPMorgan. Returns as high as the "mid-teens" are possible, he said.
But not knowing whether a bet on a group of pensioners' life spans is correct for decades prevents some hedge funds, such as London-based Leadenhall Capital Partners, from entering the marketplace. Luca Albertini, CEO of Leadenhall, said the longevity market simply was not liquid enough.
Subprime mortgages sold in the past decade were the genesis of the biggest financial meltdown since the Great Depression. Investment banks passed the risk of borrowers defaulting to the capital markets by packaging, or securitising, the loans into bonds and selling them to investors and one another.
Collateralised debt obligations were sold in such volume that when mortgage holders defaulted, governments in the US and Europe had to bail out the financial system. In much the same way, banks are now looking to securitise the risk of pensioners living longer than expected.
Securities based on life expectancy do not hold the same risks as those linked to subprime mortgages because they are "fully collateralised", minimising the risk from a counterparty failing to meet its obligations, Coughlan said.
However, David McCourt, senior policy adviser at the UK's National Association of Pension Funds, said: "There's a massive counterparty risk. People say insurance companies don't go bust, but they do. We've seen AIG and investment banks going under like Lehman.
"There's a lot of pressure on the trustees to make sure they're comfortable the deal is right because there's no going back."
Rothesay Life, the biggest pension liability insurer in the UK last year, has not joined JPMorgan and Prudential in the new London-based Life & Longevity Markets Association. Managing Director Tom Pearce said it preferred to develop the market alone and did not expect it to be easy.
"Clearly, if there was a capital market solution that would be helpful for the market generally, but there are some challenges," he said. "The biggest is selling these very long-term risks to shorter-dated investors."
http://www.blacklistednews.com/The_vulture_funds_of_death/13990/0/38/3 8/Y/M.html _________________ www.lawyerscommitteefor9-11inquiry.org www.rethink911.org www.patriotsquestion911.com www.actorsandartistsfor911truth.org www.mediafor911truth.org www.pilotsfor911truth.org www.mp911truth.org www.ae911truth.org www.rl911truth.org www.stj911.org www.v911t.org www.thisweek.org.uk www.abolishwar.org.uk www.elementary.org.uk www.radio4all.net/index.php/contributor/2149 http://utangente.free.fr/2003/media2003.pdf
"The maintenance of secrets acts like a psychic poison which alienates the possessor from the community" Carl Jung
https://37.220.108.147/members/www.bilderberg.org/phpBB2/
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Wed May 25, 2011 9:24 pm Post subject:
Nothing stops bankers from ripping off population again – http://rt.com/news/2008-crisis-bankers-responsibility/ http://rt.com/files/news/2008-crisis-bankers-responsibility/rip-off.fl v
The fact that those responsible for the recent economic crisis have not been held accountable is setting a very dangerous trend, believes investigative journalist Matt Taibbi, author and contributing editor to Rolling Stone magazine.
“The number one thing that came out of this whole period is that there are absolutely no consequences for any of the people who committed this wide-scale fraud,” Taibbi said. “We had these massive bailouts and there is enormous amount of the public anger about that. If you couple bailouts with the lack of law-enforcement, the lack of prosecutions, there is really no incentive going forward for people on Wall Street not to commit crimes, especially if they are incredibly profitable.”
“If people on Wall Street look at that and they say ‘Hey, if I rip off a pension fund or insurance company, or a foreign bank, or a foreign hedge fund, there will be absolutely no consequences. Even if it all blows up, even if we bet completely wrong, the worst-case scenario is that the government is going to come in and bail us out with tax payer money’,” he added.
The reason politicians are procrastinating is that they are completely unaware of people’s needs and sufferings, Matt Taibbi believes.
“What used to be the middle class in this country is now facing foreclosure in huge numbers. I mean, millions of people at a time are going into foreclosure, they are losing their houses, they are losing their life savings, but I think the people who are running this country do not really see that,” he said. “Their entire experience is limited to a very small circle of people who see a very different America, one that is very affluent.” _________________ www.lawyerscommitteefor9-11inquiry.org www.rethink911.org www.patriotsquestion911.com www.actorsandartistsfor911truth.org www.mediafor911truth.org www.pilotsfor911truth.org www.mp911truth.org www.ae911truth.org www.rl911truth.org www.stj911.org www.v911t.org www.thisweek.org.uk www.abolishwar.org.uk www.elementary.org.uk www.radio4all.net/index.php/contributor/2149 http://utangente.free.fr/2003/media2003.pdf
"The maintenance of secrets acts like a psychic poison which alienates the possessor from the community" Carl Jung
https://37.220.108.147/members/www.bilderberg.org/phpBB2/
83 graduates fighting for each job
uk.news.yahoo.com
Read '83 graduates fighting for each job' on Yahoo! News. University leavers are facing record levels of competition for jobs, with more than 80 fighting for every position, research suggests.
Uploaded by NewAmericaNow on 26 Jun 2011
The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money. Our wealth,our work,our food,our government,even our relationships are affected by money.
No money in human history has had as much reach in both breadth and depth as the dollar. It is the de facto world currency. All other currency collapses will pale in comparison to this big one. All other currency crises have been regional and there were other currencies for people to grasp on to.
This collapse will be global and it will bring down not only the dollar but all other fiat currencies,as they are fundamentally no different. The collapse of currencies will lead to the collapse of ALL paper assets. The repercussions to this will have incredible results worldwide. _________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Tue Jun 28, 2011 6:02 pm Post subject:
In trying to help the eurozone, China is not driven by altruism, but is pursuing its own interests, believes Jean-Francois Di Meglio, president of the Asia Center think tank in Paris.
“China has always done things gradually pursuing its own interests. Its premier is once again touring Europe and trying […] to diversify the assets of China,” the economist told RT.
“China has the capacity [to pull the eurozone out of the crisis]. Now, does it have the real will and can China really do it in a short amount of time? The answer is probably no,” he also stressed.
Quite unexpectedly China has announced its plans to step in to help prop up the euro. The Asian giant is offering to open up its mammoth US$3 trillion in foreign reserves to buy up European debt. Premier Wen Jiabao made the offer during his tour of Europe.
It is widely believed Beijing, which has been accumulating cash faster than it can spend it, has decided to diversify away from US debt.
But the move has prompted fears the economic sovereignty of the EU could be compromised.
Meanwhile, some critics even suggest the ongoing currency war between the US and China is the real motivation behind the offer.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Tue Jun 28, 2011 11:36 pm Post subject:
In this issue, we discuss the two most dangerous aspects of the Autumn 2011 shock, namely:
. the detonating mechanism of European government debt
. the explosion process of the US bomb in terms of government debts
GEAB N°56-Special Summer 2011 is available! Global systemic crisis – Last warning before the Autumn 2011 shock, when $15 trillion of financial assets go up in smoke
On December 15, 2010, in the GEAB N°50, LEAP/E2020 anticipated the explosion of Western government debt (1) in the second half of 2011. We were then describing a process that would start with the European government debt crisis and then set fire to the heart of the global financial system, namely US federal debt (2). And here we are with this issue at the start of the second half of 2011, with a global economy in complete disarray (3), an increasingly unstable global monetary system (4) and financial centres in desperate straits (5), all this despite the thousands of billions of public money invested to avoid precisely this type of situation. The insolvency of the global financial system, and of the Western financial system in the first place, returns again to the front of the stage after just over a year of political cosmetics aimed at burying this fundamental problem under truckloads of cash.
We estimated in 2009 that the world had about 30 trillion USD in ghost assets. Almost half went up in smoke in the six months between September 2008 and March 2009. For our team, it's now the other half’s turn, the 15 trillion USD of ghost assets remaining, purely and simply vanishing between July 2011 and January 2012. And this time, it will also involve government debt, unlike 2008/2009 where it was mostly private players who were affected. To gauge the extent of the coming shock, it is worth knowing that even US banks are starting to reduce their use of US Treasury Bonds to guarantee their transactions for fear of the increasing risks weighing on US government debt (6).
Fury at BBC for offering jobs as prizes to unemployed in 'cruel' gameshow www.dailymail.co.uk
The show, Up For Hire, plans to quiz out-of-work youngsters before telling them if they have got a job live on air
BBC bosses were condemned today for a gameshow-style reality series which offers jobs as prizes to the unemployed.
The programme, Up For Hire, plans to quiz out-of-work youngsters before telling them if they have got a job live on air.
BBC3 is scheduled to give the series - branded 'inappropriate and cruel' - a prime time evening spot.
The series, which was commissioned earlier this year, will film school, college and university leavers on four-week work placements at top British companies.
The youngsters will start with menial tasks like making tea before graduating to executive decisions. Bosses will then question them ahead of making their 'You've hired' decision.
Love Productions, the makers of the show, are looking for 16 jobseekers aged between 18 and 24. Footage will be seen in four programmes broadcast live on consecutive nights later in the year.
But employment experts have rapped the BBC, accusing the Corporation of exploiting the jobless for entertainment.
Tanya de Grunwald, founder of the respected job-hunting website GraduateFog.co.uk, told the Sunday Express: “This show feels inappropriate and cruel.
'It has been designed by someone who has no empathy for how it feels to be young and unemployed in 2011. Turning their struggle into entertainment for a TV audience seems crass and humiliating.'
She warned that those who fail to get a job might take the rejection on national Television 'very hard.'
Career coach Denise Taylor, author of How To Get A Job In A Recession, accused the BBC of an 'element of sensationalism.'
She said those youngsters turned down for jobs might have problems finding work because prospective employers may be influenced by their performance on the show.
The BBC denied they were taking advantage of jobless youngsters and described Up For Hire as a documentary rather than a gameshow.
A spokesman said: 'Candidates will not be competing against each other. They will be learning the essential skills and confidence to succeed in the job market.
'No job interviews will be shown live' and unsuccessful candidates will be given constructive feedback.' _________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sat Jul 30, 2011 1:07 am Post subject:
Senate quickly acts to block House debt-ceiling plan http://www.latimes.com/news/politics/la-pn-senate-debt-vote-20110729,0 ,1040563.story
Sen. Chuck Schumer (D-N.Y.) speaks to reporters with Senate Majority Leader Harry Reid (D-Nev.) before votes on the House Republicans' debt-ceiling plan Friday, July 29. (Nicholas Kamm, AFP/Getty Images)
By Michael A. Memoli - LA Times - July 29, 2011, 5:29 p.m.
The Senate voted Friday evening to reject Speaker John A. Boehner's debt-ceiling plan just hours after it moved through the House, setting up a dramatic weekend of negotiations as Congress works to stave off a potential federal default.
The Senate tally was 59-41 on the motion to table the House plan, including some Republican votes.
Even as leaders from both parties engage in frenetic talks on the way forward, the House will hold yet another symbolic vote. House Majority Leader Eric Cantor announced the chamber plans to hold a vote on legislation that closely mirrors Reid's plan, planning to kill it even before the Senate can adopt it.
In a statement on the earlier House vote, White House press secretary Jay Carney called Reid's plan the basis for final compromise and called for an end to "political exercise[s]."
"The president urges Democrats and Republicans in the Senate to find common ground on a plan that can get support from both parties in the House – a plan the president can sign by Tuesday," he said.
The likely compromise would be similar to major elements of Boehner's plan, but would drop his requirement that Congress go through another potentially protracted debate over the debt ceiling late this year.
Instead, it would include a complex mechanism that would attempt to guarantee that Congress will approve further reductions in the long-term federal deficit early in 2012.
The overall goal would be to cut the long-term deficit by more than $2 trillion over the next 10 years, in part by empowering a special congressional committee to propose spending cuts and possibly revenue increases later this year.
Congressional officials hope to develop a compromise that could pass the Senate early next week as the clock ticks down and then go back to the House and pass with a coalition of Democratic and Republican votes.
Kathleen Hennessey and Lisa Mascaro contributed to this report.
Pentagon Deploying 20,000 Troops Within The United States To Prepare For Civil Unrest In Event Of Economic Collapse http://blog.alexanderhiggins.com/2011/07/24/pentagon-deploying-20000-t roops-united-states-prepare-civil-unrest-event-economic-collapse-41241 /
Posted by Alexander Higgins - July 24, 2011 at 4:51 pm - Permalink - Source via Alexander Higgins Blog
http://www.youtube.com/watch?v=lXHmBYkNHQg
The pentagon has announced plans to deploy a 20,000 strong internal troop force within the united states over the next two years civil unrest in the even of a catastrophic even such as a massive large scale terror attacks or economic collapse — thus, dovetailing into the current troop and equipment movements reported around the country reported by truckers and many more sightings by others.
This has raised fears that the United States is moving ever closer to a total militarized police state, and some wonder if people will become desensitized to the implementation of martial law if once they become conditioned to seeing the military roaming the American streets on a daily basis. Others suggest the announcement of the troop deployment is part of some unknown larger plan being implement and due to the coincidental timing with the now apparently related pre-positioning of troops equipment and (NOTAM) No-Fly Zones in the Continental United States (CONUS).
Other speculation this may correlate with the debt ceiling talks which now seem to haven fallen apart and entered into the point of no return or if the announcement is related to recently reported nuclear threats from reactors in danger within the US.
The Russia today video attached below covers the many of the questions fears and shows a wide range of reactions from U.S. citizens about the Pentagon’s announcement of stationing 20,000 troops within the United States.
The deployment may also be part of the beginning phases of REX84 (Readiness Exercise 1984) being activated due to a catastrophic event that is yet to take place.
A NASA video recently released alludes to this possibility and issues a warning to all employees regarding living near large
bodies of water. Watch the NASA video yourself.
Another possibility reason for the deployment may stem from reports that White House was prompted by NASA late last year that there was threat from outer space now facing the nation and a deflection campaign will need to be implemented – this document was signed by Eric P. Holdren.
Then you have the FEMA/FCC Take over drill happening on September 26, 2011 — the very same day asteroid 2005 YU55 threatens to hit earth and/or the moon.
Alternatively, another catastrophic threat from space would be the detonation of the super nuclear EMP bomb a just released defense intelligence report reveals China has been building and testing.
According to a report in The Asia Times, the EMP bomb could be detonated in outer space and would destroy all electronic equipment in the U.S. effectively sending America back to the middle ages in less than one second.
Casualty estimates project that 9 out of 10 Americans would die within a year as a result of the blast. _________________ www.lawyerscommitteefor9-11inquiry.org www.rethink911.org www.patriotsquestion911.com www.actorsandartistsfor911truth.org www.mediafor911truth.org www.pilotsfor911truth.org www.mp911truth.org www.ae911truth.org www.rl911truth.org www.stj911.org www.v911t.org www.thisweek.org.uk www.abolishwar.org.uk www.elementary.org.uk www.radio4all.net/index.php/contributor/2149 http://utangente.free.fr/2003/media2003.pdf
"The maintenance of secrets acts like a psychic poison which alienates the possessor from the community" Carl Jung
https://37.220.108.147/members/www.bilderberg.org/phpBB2/
Must Watch: Incredible Speech On Why We Need To Fight The Unconstitutional Super Congress And Take Back Our Government From the Politicians, The Media, The Rich And The Corporations.
In this incredible special comment Keith Olbermann touches base on the raging corruption of the rich and the powerful who rule over America's corporations and politicians while making a call to the public to stand up in outrage over the unconstitutional "Super Congress" enacted into law under the premise a manufactured debt ceiling crisis.
_________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Uploaded by RussiaToday on 6 Aug 2011
The United States' prized top AAA credit rating has been cut for the first time ever. Standard & Poor's has dropped America's ranking to AA+. The destructive force is the crippling debt which Congress has struggled to agree on how to tackle, with only an 11th-hour deal to raise the amount allowed. S&P says that's not enough - and falls far short of what's needed to stabilize the government's runaway borrowing. But the Obama administration says the analysis is way off, and will damage any recovery.
Recession Now? Stock market hysteria amid big debt fears
Uploaded by RussiaToday on 5 Aug 2011
World markets are clawing back their losses but remain unstable after the sharpest fall since 2008. That decline raised fears of another wave of the global recession amid the slowing U.S. economy and EU debt crisis.
_________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Uploaded by RussiaToday on Aug 9, 2011
European shares have plunged, as the EU Central Bank chief warns the region's financial system is in the worst crisis since World War Two. That despite the Bank starting to buy government bonds from Spain and Italy to prop up their struggling economies.
Uploaded by RTAmerica on Aug 16, 2011
The world is now seeing the economic uncertainty of the U.S. but for many Americans, it has been apparent for quite some time. Economic despair has been spreading across our nation and it can be seen by the rising number of middle class Americans losing their homes. In some cases, joblessness and inability to pay rent has forced people to live in their cars, shelters, or on the sidewalk.
_________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Thousands Camp Out for Job Fair as Jobless Rate Rises
video @ site _________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
From bank collapses to sovereign debt crises, we are now going to have government defaults.
Stock market collapses so far as reported on the BBC in August:
FTSE-13%
Frankfurt-18%
Paris-24%
Maybe a cash injection (printing of billions of dollars euros or sterling) can create hyperinflation in our lifetime?
Gold hit another high again today.
Now some Osborne-omics. He could have sold the banks we bought (under the previous joker Brown) as taxpayers when he had the opportunity now we are stuffed.
Quote:
French lenders Société Générale and BNP were among the biggest fallers, along with Unicredit of Italy. Citigroup estimates that Soc-Gen’s short-term borrowings are $56billion and BNP’s $94billion, making them very vulnerable to a freeze in credit markets.
The sell-off in Italian banks was so severe in Milan that dealings had to be temporarily suspended. The eurozone banks are now really paying the price for flawed stress tests which took no account of holdings of sovereign debt.
Among the biggest losers from the bank sell-off is the British Treasury. It had a brief period earlier this year when it could have exited Lloyds and RBS at a profit for the taxpayer.
Whilst the BBC had on its front page before they pulled it this piece which also has a changed title now when you click on it
Quote:
End of the world as we know it?
As the turmoil gripping the markets continues, economist Chris Williams looks at whether we are witnessing fundamental changes in the global financial and economic system.
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Wed Aug 24, 2011 12:24 pm Post subject: Challenge the Market God
Criminal Ruling Class: Financial Oligarchy & How To Stop Them
The US & European Financial Oligarchy Backed By The Military Industrial Complex & How To Stop Them The Time Has Come
Challenge the Market God - Martin Summers - mp3 3.4M
http://www.indymedia.org.uk/en/2011/08/483706.html
HOW TO STOP THEM
Nationalise Banks
Break The Military Industrial Complex
Withdraw From Afghanistan & Elsewhere
Rebuild Infrastructure
The US & European Financial Oligarchy & How To Stop Them
Friday Drivetime crew -
http://www.thisweek.org.uk
Europe Roundtable: ECB in crisis?
This month we take an indepth look at Europe’s financial woes
Joined: 25 Jul 2005 Posts: 18335 Location: St. Pauls, Bristol, England
Posted: Sun Aug 28, 2011 8:41 pm Post subject:
LATEST POST ON GLOBAL VISION 2000. IS THIS ON THE HORIZON?????????? THINKING THE UNTHINKABLE
http://globalvision2000.com/
This may not be as far-fetched as you might think. I am surprised, though, at his expecting it to happen so soon. And why just S. California, NY and Washington in USA? Why just UK in Europe?
Anyway, may be safer to keep one's savings in India and in gold!
Wishing it won't come true,
Economic Collapse a Mathematical Certainty - Top 5 Places Where Not To Be
With Italy second only to Greece in the Eurozone in terms of its debt-to-GDP ratio, the Italian government is eyeing China as a possible source of cash to alleviate its budget deficit.
According to Italian officials, Lou Jiwei, chairman of China Investment Corp, one of the world's largest sovereign wealth funds, led a delegation to Rome last week. He met with finance minister Giulio Tremonti, and Italy's Cassa Depositi e Prestiti, a state-controlled entity that has established an Italian Strategic Fund open to foreign investors, reports the Financial Times.
Italian officials were in Beijing two weeks ago to meet CIC and China's State Administration of Foreign Exchange (Safe), which manages the bulk of China's $3,200bn foreign exchange reserves. Vittorio Grilli, head of the treasury, met Chinese investors in Beijing in August. Italian officials said further negotiations were expected to take place soon.
How much of Italy's 1,900 billion euro of debt is already in China’s possession is not immediately clear. The Financial Times cites Italian officials as saying that Beijing holds about four per cent.
Uploaded by Signalxfmdublin on Dec 7, 2010
THIS MAN IS AN IRISH NATIONAL HERO !!
We at xfm Dublin, Ireland, WANT this man to return home and run the country Even if this man was in a * coma, he could do a better job than Fianna Fail and their * banker and developer mates. It will be a cold day in Hell, when another Banker / Builder / Property Developer / Speculator or 'Fianna Failure Lizard' wipes the eye of the Irish People. They should stick to shovelling * ! That is what they are used to, that's what they are good at.
_________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
Amidst all the doom and gloom another positive response to the financial implosion which is now reaching massive proportions are we are on the verge of founding out who is going to go bankrupt first,
the Euro, Sterling or the Dollar.
We build another pointless mall to destroy hundreds of local jobs in one of the poorest areas of London.
At the same time as taxpayers money has funded the Olympics and around 90% of all the constructions jobs have gone to everyone else BUT the British taxpayer, much like the products imported into the Malls all arrive to be sold and they call it ...growth, or was it stagnation?
Published on 17 Sep 2011 by AssociatedPress
Tens of thousands of trade union activists from around Europe marched in Poland on Saturday to protest low wages and layoffs. The march coincided with an informal meeting of European finance ministers to discuss the eurozone debt crisis. (Sept. 17)
_________________ 'Come and see the violence inherent in the system.
Help, help, I'm being repressed!'
“The more you tighten your grip, the more Star Systems will slip through your fingers.”
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