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Friday Humor: World's Safest Banks In 2008
In September of 2008, Global Finance magazine published its 'World's Safest Banks 2008' list with this comment: "These 10 banks have demonstrated an appropriately prudent approach to risk in providing international financial services; More than ever customers are viewing strong credit quality as an important feature of the banks with which they do business." Things didn't work out quote as they expected...
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I choose the Bank of Sealy Posturepedic.
No! No! No! Dexia is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Dexia.
http://www.global100.org/annual-lists/2011-global-100-list.html
#17, not bad!
Why don't the inflation alarmists on this site simply invest their hard earned savings in inflation linked bonds? The bond is indexed to the official CPI inflation figure, so investors are entirely hedged against the apocalyptic "Weimar" scenarios that zerohedgers have nightmares about. But I'm sure that's far too reasonable for doomer goons.
MF*n Global
Because intelligent doomers do not invest where there is no rule of law.
I'm guessing that Wells was "safe" as soon as Uncle Warren unloaded all of his silver before he really wanted to.
The only bank that will never go out of business will be the Sperm bank...trust me, I think when shit hits the fan, there will be a lineup to donate.
No thanks, I'll just keep making deposits into the end-users. :>D
Because the CPI is a crock of Bernanke...
a very much larger crock that you're told...... like unemployment (close to 24% in reality)
Who wants an 'inflation protected' bond that offsets inflation by a quarter of what it really is?
You answered your own question.
"Son, fat, drunk and stupid is no way to go through life."
MDB is an overweight teenager posting from the school library, who has an emission every time he gets five people to take the troll bait.
...and any long-term bond won't pay the principal anyway. If we could really trust government, we wouldn't have such problems.
My fucking caffe latte at Second Cup was just marked up by 3% last week, I used to pay 56cents a litter of fuel in 2002 and today I pay $1.30, less than a decade ago, $100 afforded our family food in a decent supermarket for a week, my MBA tuition cost me $25,000 over two years at a top school only ten years ago, I used to be able to fly to another country in another hemisphere for only $700 and now I am lucky if I can buy the ticket for $1,200, shall I go on??? And, I am sorry, where is that CPI you'r talking about? At 2%? Perhaps I am different than the rest. Perhaps the rest do not need food, vacations, education, fuel, a car, etc. I would not be surprised if that was the case...after all,that's why I am called a gold bug!
"Perhaps the rest do not need food, vacations, education, fuel, a car, etc."
Food, sure. But the rest actually no. Including probably "etc".
People have been convinced they need a lot more crap than they do. If they ever wake up to reality the global economy will implode within 72 hours.
Heating oil was under a dollar and my local property taxes under $10,000 when we bought 20 yeas ago. Today heating oil is over $4.50 and property taxes are approching $35,000........
gag.
property tax $35 000!?
where the fuck do you live?
we have 450+acres, 2 5 bedroom houses, 10 barns and indoor arena,... and we pay under 12 all said and done
you should move
my god, 35 g's just so the man doesn't come and kill you and take it
i hope you get garbage pick up EVERY DAY
By themselves high fuel costs are not inflation(ary). For there to be inflation, wages must increase to meet the high prices of other goods.
Fuel costs more, the good ol' days of Spindletop and Cantarell are gone forever.
Soon enough, gasoline will cost $15 per liter and there will be no flights to any other continent that you will be able to afford.
I hope you have some photos of your trip(s) overseas you can share with your kids!
Such doom and gloom. At one time, they used to sail across the ocean. I gues steamships are out because coal is bad. Or did we forget how to accomplish these ancient wonders?
NYC burbs are EXPENSIVE places to live. Even now a starter house in one of the not-the-best towns is almost a half million - with taxres in the $20,000 range.
A good number of the 1%ers - those just over the line - are very middle class living in expensive places. You're paid good money but the reality is you can live a better lifestyle for a lot less elsewhere. The problem is getting work. If you've got a good job you're not going to give it up in these times.
We bought at the market low after Gulf I when you couldn't give a house away. 20% down over 8% mortgage. Doesn't matter if I've put thousands of hours in renovating the place - no credit for my labor against 'capital gains' - and inflation means my assessed value has tripled (though taxes have gone up even faster than that). Reality is that living ANYWHER near NYC is going to cost you - in up front costs or commuting costs. Two stops and 30 minutes out of Grand Central is preferable to over an hour. Too many people buy a nice place and are NEVER home to enjoy it, NEVER see their kids.....
Would LOVE to retire early and move out to ..... could probably even afford to do so except for health care costs. Paying for that on your own until 65 is prohibitive.
+1 for use of "doomer goons"...polite golf clap for you MDB.
MillionDollarLoser "Why don't the inflation alarmists on this site simply invest their hard earned savings in inflation linked bonds"
Perhaps because government statitstics are messaged so that inflation can be easily manipulated downward.
Ya know, I keep thinking people will start ignoring you, but no, they keep right on hooking themselves.
Must be the direct insults that puts them over the line.
Good Jorb.
MillionDollarBonus_ , Why do you read and comment on zerohedge? Is it because you like to be the only opposing voice in the room? When I read your comments i always sense your tone in my head to be like Napolean Dynomite. GAAAW!!!
Hey, why didn't I think of that? Us doomer goons could dredge all of our gold up off the bottom of Lake Erie and convert it into the empty promises of an insolvent government that is currently borrowing nearly half of EVERY DOLLAR it spends, and we can sleep like babies because Millard Doggie Boner assures us that those TIPS are indexed to the price of gasol---uh, cost of grocer---uh, I mean, the waterboarded inflation statistics from the Brigades of Lying Statisticians whose paychecks depend on said government being able to continue to borrow, lie and inflate.
MDB Because they aren't IDIOT! Maybe you have notive that housing, fuel and food have already increaded 2-10 times....but somehow inflation is 1%... please explain who ILB help in the BIG LIE! Next you will tell us deficit and don't matter!
The CPI??? You mean the I don't like this set of data it makes us look bad so lets throw it out CPI
Much better MDB, your getting back to normal.
El Banco Cilindrico de Juan Valdez
<== +1 Long live - El Banco Cilindrico de Juan Valdez
<== -1 Invest in Inflation Linked Bonds
DaddyO
A fire proof safe is much better. But I get your drift and agree with you. The safest bank is one that no one knows about.
LOL... Well played, sir. I doff my chapeau to thee...
OxyMORON?
still no sighting of the former CFO of wells fargo
Alas, I had a boating accident and my bank is at the bottom or the river.
Sorry all...just one question. I see these "boating accident" references all the time. Other than the obvious....my boat sank with monster boxes on board....from where do these comments originate?
Sorry!
D
first rule of fight club...never talk about fight club (or explain boating accidents/incidents)
Read "Where Are the Customers' Yachts?" by Fred Schwed Jr.
Thank you!
in Canada we have ice fishing accidents during the other half of the year
fish like shiny stuff too
That's okay, since we know you had a boat, which most American's don't, we'll tax you at an extra high rate. Thanks in advance.
Remember kids, if you can't pronounce the name, it references the Wild West, or inlcudes a mysterious acronym, don't park your savings there.
Dexia... LOL! Eye watering...
Mirror mirror on the wall who's the ugliest bailout queen of them all.
And the editor, was of course, the far sighted chairSATAN
Dexia bitchez. A Bernie Madoff approved institution.
I'm a Patriot and only use Team Greek America.
AAAAnd it's gone.
Those good old times. I deeply miss them.
What is there 2013 Top Ten?
World Savings isn't on the list?
What? Bankia and Monte dei Paschi di Siena didn't make the list?
Wait until CANADA's BANKS hit the "low 10"..Propaganda at its finest in CANADA
Friday humor may 16, 2014: the world's safest CENTRAL banks.
... followed by a GW post titled "My Favorite Recipies for Squirrel."
Both carved in stone tablets.
Served by mrs. Watanabe's daughter.
Lehman Bros umbrellas anyone? Spiderman towles?
Tyler(s),
given the frequency of F bombs is accelerating by ZH posters, I take this as a sign ZH readers frustration is ramping and that Friday humor may need to become a more regular feature...just my two fucking cents.
hahaha FUNNY! -
NRW BANK?---after WEST LB the next to fall in GERMANY...running the provincial state of Northrhine-Westphalia into Bancrupcy.
http://www.wdr.de/tv/westpol/sendungsbeitraege/2012/0325/nrwbank.jsp
(english translation more or less " next billion $ grave")
And HVB ? Depfa ? NordLB ?
Now, now, no sour grapes or schadenfreude -- take your medicine and listen to your betters :)
Noe of those banks went bust, so what is the issue here ?
Lloyds TSB nearly went bust in 2008. It is now partly state owned after a heap of taxpayers's money was poured down is throat.
It did go bust. It had no equity after HBOS. Banks are ALL Bust simply living on Government Guarantee. There is no other purpose today that Taxpayers propping up Banks which are basically insolvent
It did go bust. It had no equity after HBOS. Banks are ALL Bust simply living on Government Guarantee. There is no other purpose today that Taxpayers propping up Banks which are basically insolvent
You are clearly one that has examined the Balance Sheets of these Banks and checked their loan book. So explain to me why I have lost 90%+ of my capital in the No6 bank on that list. Why it is dependent on Government Bond trading for subsidy; why it expanded its shares in issue to 69,431,144,289 having issued 36,000,000,000 Shares in 2009. A Bank founded in 1765 ehich was rock solid until it was forced into merger with HBOS by a Government which excluded details of a £60 Billion loan to HBOS propping up the bank from the Prpspectus in breach of the Financial Services & Markets Act. They created a false market. The £60 billion was secretly repaid to the Government in September 2008. It was never mentioned to Shareholdrs.
godzila must be a perfect stooge for the political class which has sold out the future to prop up banks and EXPROPRIATED Savers and Shareholders.
How could there be any "safe" bank when the whole system is privatized and globalized electronic fiat money frauds, backed up by governments with weapons of mass destruction. Only a very well-developed macabre sense of humour can laugh at the magnitude of those evils!
glad i still have my
Bear Sterns account..
I thought it was content from the Onion before doing a double take and reading the date.
Americans have it much easier. Banks are a smaller proportion of GDP than in Europe. US business is not as dependent on bank finance as in Europe. The US Stock Market is not limited to Oils and Banks as in the UK making investment diversification hard. Britain has been destroyed by Banks and will probably implode