breezy

BANKERS BANKERS BANKERS !!!

1,434 posts in this topic

http://www.rollingstone.com/politics/blogs/taibblog/accidentally-released-and-incredibly-embarrassing-documents-show-how-goldman-et-al-engaged-in-naked-short-selling-20120515#ixzz1v5YL0wb0

Accidentally Released - and Incredibly Embarrassing - Documents Show How Goldman et al Engaged in 'Naked Short Selling'

.... “exhibit 96,” ... refers to “an email from [Goldman executive] John Masterson that sends nonpublic data concerning customer short positions in Overstock and four other hard-to-borrow stocks to Maverick Capital, a large hedge fund that sells stocks short.”

.... Among the more compelling is the specter of executives from numerous companies admitting openly to engaging in naked short selling, a practice that, again, was often dismissed as mythical or unimportant.

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JPM’s CIO Loss Widens to $5 Billion

jp%20morgan%20police.jpgsilvergoldsilverimg

Guess this picture kinda tells the story, doesnt it??

May 18, 2012

"Last weekend we advised SD readers that our sources had informed us that JPMorgan’s derivatives losses sustained by their CIO desk were actually $100 Billion, not the $2 Billion admitted by Jamie Dimon to investors.

Well, one week later, the MSM (WSJ) is now reporting that JPM’s CIO has now lost $5 billion." 

http://www.silverdoctors.com/jpms-cio-loss-widens-to-5-billion/

JPMorgan admits billions of losses from flawed trading strategy with derivatives

"The US mega-bank JPMorgan Chase & Co loss from derivatives trading may widen to 5 billion dollars, the Wall Street Journal reported on Friday. CEO Jamie Dimon personally approved the strategy that led to the trades, without monitoring how they were executed, the newspaper said."

"Damion failure to closely regulate that activity caused resentment among executives whose departments face tighter oversight, according to the WSJ."

snip

"The largest US lender by assets didn’t have a treasurer during the five months when the trades took place, the Journal reported in a separate article."

read the story at...

http://en.mercopress.com/2012/05/18/jpmorgan-admits-billions-of-losses-from-flawed-trading-strategy-with-derivatives?utm_source=feed&utm_medium=rss&utm_content=economy&utm_campaign=rss

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JIM CRAMER: I'm Predicting Bank Runs In Spain And Italy In The Next Few Weeks

May 20, 2012

Joe Weisenthal

"Jim Cramer was a guest on Meet The Press this morning.

This clip, wherein he's asked by host David Gregory about the ramifications of Europe certainly got people's attentions.

His response on what's going on: "I'm predicting bank runs in Spain and Italy in the next few weeks. Without coordinated policy there will be financial anarchy."

Read more: http://www.businessinsider.com/jim-cramer-im-predicting-bank-runs-in-spain-and-italy-in-the-next-few-weeks-2012-5#ixzz1vRw3mIGz

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His response on what's going on: "I'm predicting bank runs in Spain and Italy in the next few weeks. Without coordinated policy there will be financial anarchy."

A few weeks...Mmmm interesting spin on what is happening NOW.

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IMF warns Britain needs Plan B in case of eurozone collapse

Cheryl Mullin

May 22 2012

"THE Government should prepare a Plan B to support the UK economy in the case of a collapse in the eurozone or the failure of recovery to take off, the International Monetary Fund (IMF) has said.

The Fund said further easing of monetary policy, by printing money or even cutting the 0.5% base interest rate, was “required” now to inject some vigour into a flat economy.

And it said the Government should consider an immediate increase in spending on infrastructure to boost growth and employment.

The IMF said possible candidates for temporary tax reductions in any Plan B would be VAT or payroll contributions, as these could credibly be presented as short-term measures which could swiftly be reversed once economic conditions improve."

Read More http://www.walesonline.co.uk/news/uk-news/2012/05/22/imf-warns-britain-needs-plan-b-in-case-of-eurozone-collapse-100252-31022408/#ixzz1vdgwBg10

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Spain's Bankia shares suspended

May 25, 2012

"The main event in Europe on Friday was the news that trading in shares in Spanish bank Bankia was suspended in Madrid.

It asked for them to be suspended ahead of a board meeting later on Friday to reformulate its accounts for 2011 and submit a plan to shore up its finances.

The bank is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn).

Bankia, which is Spain's fourth-largest bank, was part-nationalised two weeks ago because of its problems with bad property debt."

http://www.bbc.co.uk/news/business-18206977

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Time for Spain to let the "COMMERCIAL " Banks FALL as happens with all bad business and NOT bail out the banks by going into SOVEREIGN DEBT...

Spain unlike many countries is carrying NO Sovereign debt as such , so all the debts of the country are business based... let market forces determine the viability of the businesses and the country will be fine.

Everytime a Government bails out a business it borrows against it people (Sovereigns) and puts the people into servitude until the debt is paid back and when you enter a variable contract with groups such as the IMF you never end up being able to pay the debt off... so enslave your people eternally...

Let them fall it will make the other businesses stronger and the country stable...

We will see if the tricksters win this one.... lets hope not.

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>:(Biggest Greek bank warns of dire euro exit fallout

May 29, 2012

Karolina Tagaris

ATHENS

"(Reuters) - If Greece left the euro, living standards would plummet, incomes would be slashed by more than half, and inflation and unemployment would skyrocket, the National Bank of Greece warned on Tuesday.

In a report released ahead of an election on June 17 that may determine whether the country stays in the single currency, the country's biggest bank said the risk of Athens exiting the euro was no longer just a theoretical possibility, warning that the fallout from such a move would be dramatic.

"An exit from the euro would lead to a significant decline in the living standards of Greek citizens," the NBG wrote ahead of a vote which parties opposed to austerity measures that have kept Greece in the euro so far have a chance of winning."

snip

"Greece's conservatives have regained a tentative opinion poll lead that suggests they may be able to form a pro-bailout government committed to keeping the country in the euro. But the vote is still deemed too close to call."

http://www.reuters.com/article/2012/05/29/greece-euro-idUSL5E8GTI5320120529

Seems to me that Greece is going to have another election soon....gee...these guys wouldn't be trying to influence the outcome, outright and in your face would they???  NO NOT MUCH... >:(  BE AFRAID BE AFRAID!!! >:(

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It will only be all the things stated above if Greece does not abandon the EURO... diss-info at its best..

Humans prevail and improve every situation they are not hindered in....

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Time for Spain to let the "COMMERCIAL " Banks FALL as happens with all bad business and NOT bail out the banks by going into SOVEREIGN DEBT...

Spain unlike many countries is carrying NO Sovereign debt as such , so all the debts of the country are business based... let market forces determine the viability of the businesses and the country will be fine.

Everytime a Government bails out a business it borrows against it people (Sovereigns) and puts the people into servitude until the debt is paid back and when you enter a variable contract with groups such as the IMF you never end up being able to pay the debt off... so enslave your people eternally...

Let them fall it will make the other businesses stronger and the country stable...

We will see if the tricksters win this one.... lets hope not.

Excellent Phillip! My trepidation is political or royal (hint)betrayal, i think it is in the works. Watch as someone important steps down this month (educated guess). Moreover, the new incoming guv. is set up.

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The Bad Jobs Report Is Just A Very Small Taste Of The Nightmare That Is Coming

"Another month, another bad jobs report.  For the month of May, the U.S. economy only added 69,000 jobs and the unemployment rate rose to 8.2%.  Many are calling this a total "disaster" and are worried that the U.S. economy could be headed back into another recession.  Economists had been expecting 150,000 payroll jobs would be added, so the 69,000 number really shocked a lot of people.  The truth is that the economy needs to add approximately 125,000 new jobs every single month just to keep the unemployment rate steady.  So yes, this bad jobs report is not welcome news at all - especially for the Obama administration.  When Barack Obama first took office the unemployment rate was sitting at 7.6 percent and now it is sitting at 8.2 percent.  Some "recovery", eh?  But the reality is that this jobs report was really not that "devastating" even though the stock market had its worst day of the year.  Unemployment in America is still about at the same level as it was back at the beginning of 2012.  The tough stretch that we are going through right now is only a very small taste of the economic nightmare that is on the horizon.  If you think that things are a "disaster" right now, just wait until you see what is coming.

At the moment, 53 percent of all Americans with a bachelor's degree under the age of 25 are either unemployed or underemployed, and there are more than 100 million working age Americans that do not currently have jobs.

But this is only just the beginning."

Read this sordid story here......

http://theeconomiccollapseblog.com/archives/the-bad-jobs-report-is-just-a-very-small-taste-of-the-economic-nightmare-that-is-coming

tx Redd...

Other financial headlines...

Spain faces 'total emergency' as fear grips markets

May 30, 2012

http://www.telegraph.co.uk/finance/financialcrisis/9301270/Spain-faces-total-emergency-as-fear-grips-markets.html

MOODY'S has downgraded the credit rating of nine Danish banks

From May 31, 2012

http://www.heraldsun.com.au/business/breaking-news/moodys-downgrades-nine-danish-banks/story-e6frf7ko-1226376101009

Eurozone is 'unsustainable' warns Mario Draghi

http://www.telegraph.co.uk/finance/financialcrisis/9304027/Eurozone-is-unsustainable-warns-Mario-Draghi.html

Euro zone unemployment hits record high, seen rising

June 1, 2012

http://www.reuters.com/article/2012/06/01/us-eurozone-unemployment-idUSBRE8500EY20120601

647,762,000,000,000 Reasons to Worry: The Derivatives Time Bomb

by John Galt  June 3, 2012

http://johngaltfla.com/wordpress/2012/06/03/647762000000000-reasons-to-worry-the-derivatives-time-bomb/

Europe mulls major step towards "fiscal union

June 3, 2012

http://www.reuters.com/article/2012/06/03/us-eurozone-union-idUSBRE85207J20120603

Spanish government credit denied as country’s fiscal woes worsen

June 5, 2012

http://online.wsj.com/article/SB10001424052702303830204577448023082690142.html

read more here

http://theextinctionprotocol.wordpress.com/

HOW ABOUT ONE HAPPY STORY??

Estonia Uses the Euro, and the Economy is Booming

By: Paul Ames

Globalpost

June 5, 2012

"It’s the euro zone Jim, but not as we know it.

It all seems a long way from the gloom elsewhere in Europe.

http://www.cnbc.com/id/47691090

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Eh, the economy has been craptastic for a while now, it's just that people are finally seeing through the lies.

TV viewership has been declining (http://www.nytimes.com/2012/04/23/business/media/tv-viewers-are-missing-in-action.html)- I'd say that's the big reason why the economy has all of a sudden become crappy - people are finally paying attention to something other than the TV.

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BNI depositors unable to make withdrawals / payments, payments of utility bills, mortgage payments, taxes

Pietro Giordano, Adiconsum: “Grave l'atteggiamento di Banca d'Italia che assume provvedimenti senza valutare le ricadute sui correntisti, ed in special modo, sulle famiglie monoreddito e sui pensionati” Peter Giordano, Adiconsum: "Grave of the Bank of Italy's attitude that takes action without considering the impact on depositors, and especially on single-income families and pensioners"

Adiconsum chiede a Bankitalia un incontro urgente e la revoca del provvedimento Adiconsum Bank of Italy asks for an urgent meeting and the lifting of the

La Banca d'Italia ha autorizzato la sospensione dei pagamenti della Banca Network Investimenti SpA (BNI) senza comunicare alcunché ai correntisti. The Bank of Italy authorized the suspension of payments by Bank Network Investments SpA (BNI) without communicating anything to the depositors.

Molto grave e inaccettabile – dichiara Pietro Giordano, Segretario Generale Adiconsum – l'atteggiamento di Banca d'Italia nella vicenda BNI SpA, perché altamente lesivo degli interessi della clientela. Very serious and unacceptable - says Peter Jordan, Secretary General Adiconsum - the attitude of the Bank of Italy SpA in each BNI, because highly prejudicial to the interests of customers.

Bankitalia, infatti, dopo aver prorogato il commissariamento dell'istituto di credito, dando quindi l'impressione di un imminente salvataggio, ha poi dato il via libera alla liquidazione coatta, senza fornire alcuna preventiva comunicazione ai correntisti, lasciandoli in condizione di non poter effettuare alcun tipo di operazione, neanche quelle di base per la sopravvivenza quotidiana, quali prelievi/ versamenti, pagamenti di utenze, rate, tasse. Bank of Italy, in fact, after extending the receivership of the bank, thus giving the impression of an imminent rescue, then gave the green light for compulsory winding up, without giving any prior notice to the depositors, leaving them in no condition to perform any type of operation, even basic ones for daily survival, such as withdrawals / payments, utilities payments, rates, taxes.

Dobbiamo purtroppo segnalare che provvedimenti lesivi come quelli adottati nei confronti della clientela BNI – denuncia Giordano – non rappresentano un caso isolato. We must unfortunately note that offensive measures as those adopted to customers BNI - Giordano complaint - not an isolated case. Decisioni prese senza tener conto delle pesanti ricadute, in particolare sui risparmiatori in possesso di un unico conto corrente su cui accreditano stipendio o pensione, non sono nuove a Bankitalia, ed hanno interessato anche i correntisti di Banca MB. Decisions without taking into account the heavy impact, particularly on savers in possession of a single bank account on which accrediting salary or pension, are not new to Bank of Italy, and also affected depositors of Banca MB.

L'atteggiamento di Banca d'Italia – prosegue Giordano – è burocratico e notarile e come Adiconsum abbiamo chiesto in una lettera inviata a Banca d'Italia ea BNI la revoca del provvedimento e un incontro urgente per definire le modalità con cui i clienti, specie famiglie a reddito fisso e pensionati, possano svolgere le normali operazioni quotidiane. The attitude of the Bank of Italy - Jordan continues - is bureaucratic and deed and as Adiconsum we asked in a letter sent to the Bank of Italy and the lifting of the BNI and an urgent meeting to define the way in which customers, especially Fixed-income families and pensioners, can perform normal daily operations.

http://translate.google.com/translate?sl=auto&tl=en&js=n&prev=_t&hl=en&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fwww.adiconsum.it%2FPages%2FNews.aspx%3Fn%3D1675%26AspxAutoDetectCookieSupport%3D1

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EU discuss 'limiting ATM withdrawals'

June 12, 2012

"European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

EU officials said the ideas are part of a range of contingency plans. They emphasised that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen.

But with increased political uncertainty in Greece following the inconclusive election on May 6th and ahead of a second election on June 17th, there is now an increased need to have contingencies in place, the EU sources said.

The European Commission said today it was helping with legal advice in discussions of contingency scenarios regarding Greece by the Eurogroup working group.

"I've not said that I'm not aware of any discussions, I've said I'm not aware about any plans, which is a slight difference," Commission spokesman Olivier Bailly told a regular news briefing, when asked about Commission involvement in discussions about the contingencies were Greece to leave the euro."

snip

"As well as limiting cash withdrawals and imposing capital controls, they have discussed the possibility of suspending the Schengen agreement, which allows for visa-free travel among 26 countries, including most of the European Union.

"Contingency planning is underway for a scenario under which Greece leaves," one of the sources, who has been involved in the conference calls, said. "Limited cash withdrawals from ATMs and limited movement of capital have been considered and analysed."

Another source confirmed the discussions, including that the suspension of Schengen was among the options raised.

http://www.irishtimes.com/newspaper/breaking/2012/0612/breaking24.html

Wonder how many in the Eurozone are aware of these discussions and what all they involve..I kinda got the impression that the people enjoyed the ability to move freely among countries..and maybe won't take too kindly to not be allowed to do so...

Other headlines ....

This latest euro fix will come apart in less than a month

Jeremy Warner

June 11, 2012

"Another day, another sticking plaster solution from beleaguered eurozone policymakers."

"Like all the others, the latest fix seems to create as many problems as it solves. The euphoria in markets at Spain's rescue lasted all of a few hours; having bounded away at the opening, they ended broadly flat."

Read story here..

http://www.telegraph.co.uk/finance/comment/jeremy-warner/

Spain borrowing cost crisis: Rate at euro-era high

June 12, 2012

By ALAN CLENDENNING and HAROLD HECKLE, Associated Press

MADRID (AP) — "Spain's benchmark borrowing rate hit its highest level Tuesday since the country adopted the euro currency, after ratings agency Fitch downgraded 18 banks on Tuesday and investors continued to find more questions than answers in the country's decision to seek help for its ailing bank sector by tapping a €100 billion ($125 billion) eurozone bailout fund."

snip

"The idea of the Spanish bailout was to calm the market in case the Greek elections do not turn out as the EU would like," said Gary Jenkins, director of Swordfish Research Ltd.

"However the end result was to create more volatility and create more concern."

Read the story here

http://www.usnews.com/news/world/articles/2012/06/12/lack-of-detail-on-spain-rescue-spooks-investors

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For those of you who have not prepared because you think these arrests and taking down of the cabal is BS. Think again, I have a source that reluctantly contacted a Major at the pentagon (friend of hers)and recieved confirmation this WILL happen.

Stating many strange things were about to happen and those following Drake are not crazy, keep listening. No time frame given, but when pressed for more, implied it will NOT be 2 more weeks, but sooner.

So if you have not taken excess cash out of the bank and prepared some supplies, expecting the unexpected, I suggest you get on it quickly!! OF course time is fluid but because of those statements, I would not delay any longer.

It's been stated this will be done with least amount of confusions and chaos but again, lots of variables. Better to be on the side of caution than be caught with your chin on the floor, lol.

Many blessings

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Thanks for the heads up Shining.  I think many have been discouraged by nothing 'obvious' happening during the first part of this year.  I have always said that the first indication of change for me will be when the current finanical system crashes completely.  When that occurs then I believe things will escalate quite quickly.  I have no views on whether members of the Cabal will be arrested or not or what will actually happen when the fiat system collapses, I just know it has to collapse for things to get better.

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The way they're delaying and buffering, the most likely scenario will be everything closes on a Friday, some poo-bomb goes off over the weekend and on Monday, none of the paper markets are relevant anymore.

As to which weekend it'll all happen - who knows? This is one of those perverse cases where it's better to be years early on than even one day late.

The only real debt indicator I pay attention to these days, is the gross debt to GDP ratio. Currently, it's increasing at a rate of about 1 basis point per day. Every 100 days, that's one whole percentage point. 100 days is 3-4 months. But I expect that at some point it will double. And then double again. 2 basis points a day. 4 a day. At some point, it'll be going at 1% a day.

Sometime before 1% a day, the world will drop the dollar.

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I can also tell you the worlds gold (8700 bunkers full) has been returned the the control of Neil Keenan. I can also tell you, last week the cabal began negotiations, as some wish to surrender and hope for lesser sentence, some have said they will fight to death.

There was a deadline set for surrender, June 21.

There are new leins filed on May 15 2012 that locked down the BIS so, pretty much ALL monies are now locked down, all 12 federal reserves, G7 banks, and now BIS.

What you see is manipulation of numbers on a screen that dont exist in reality,,lol.

Freecookies, I suspect you are right, this will unfold on a friday likely, so that people are at home to watch all unfold..They continue to hope this can be done with least disruption to everyone, but expect the unexpected!!

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Thanks Shining for your posts

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Will throw this up here for consideration..

BBC Reports UK Bank Downgrade To Hit In 15 Minutes

Submitted by Tyler Durden on 06/21/2012 13:17 -0400

From the BBC's Robert Peston

"Am hearing the Moody's downgrades of UK banks likely to be at 6.30 our time, with US banks downgraded later tonight."

http://www.zerohedge.com/news/bbc-reports-uk-bank-downgrade-hit-15-minutes

So then I went looking...and found this...from June 19, 2012

Downgraded UK banks, bonuses and Bank of England support

Robert Peston

"Most British banks deny that it is an especially "stressful" time for them - in the technical sense that, all but one to whom I've spoken in the past 24 hours insist they have the cash or liquidity they need right now."

"The one bank that was a bit more frank that access to liquidity is an issue insists that the Bank of England's new and unconventional scheme to provide cash - the Extended Collateral Term Repo - will rectify things."

snip

"All that said, the reasons for the downgrades in the UK are a bit different from what is transpiring in the eurozone."

"In Spain, for example, part of the recent downgrades of its banks was because the Spanish government, with its overstretched finances, is perceived to be less able to bail out its banks in a crisis than it used to be.

By contrast, in the UK it is Treasury policy to be less willing to bail out banks in those ghastly circumstances (the whole point of the Treasury's recent white paper on banking reform is to restructure banking so that in future crises more of the losses will fall on creditors and less on taxpayers).

snip

"All that said, the banks that regard themselves as strongest have a particular incentive to resist pressure from the Bank of England and the Treasury not to take too much of the money on offer in tomorrow's auction and in the so-called Funding for Lending scheme that will be launched next month."/b]

snip

"Or to put it another way, the banks are acutely aware that the more they are perceived to be dependent on special cheap credit from the Bank of England, from the state, the more criticism they will face if they continue to pay substantial bonuses.

Conflicts of interest in commercial banking? Um yes, there are a few."

Read whole story at...

http://www.bbc.co.uk/news/business-18502003

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