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We are entering the warp speed phase of the Ponzi.
Beam me up Scotty. I am more than ready to relocate to Alpha Centauri.
Good! The EU is doomed sooner or later, so let's get it over with.
All the kicking the can down the road is getting boring.
It's not just the EU... it's ALL western fractionalized ponzi banks.
Greed turned them inside out. Now we'll see more of them enter politics to funnell taxpayer bailout funds.
Notice that Monti (an ex GS crony) is now naming "himself" as Italy's finance minister? And the sheeple sleep.
don't fret, the NWO will save them with a brand new bigger world government and digitized currency... then everything will be just fine. /s
It's easier to think in terms of first principles. For example, the very first 'governments' were larger/smarter proto-humans promising 'protection' (intra/extra-tribe/clan) in exchange for pussy & food. The offer was, of course, made with underlying implied/explicit threats, so the weaker/less clever had no position in which to negotiate.
Now, let's turn this kind of analysis to banking. The first fractional loan (ie the very first loan lent against nothing) required two things: 1) collateral value must stay constant/increase ie it can NOT decrease or it renders the lender insolvent; 2) another loan must be issued in order to pay the principle+interest of the first loan. Both #1 & 2 are absolutely imperative, otherwise the gig is up.
When we reduce the problem to bare essentials, it is quite simple to realize that this game must always expand - no ands, ifs or buts. So, rather than complain, criticize, etc, one merely needs to identify the next sector(s) targeted for inflation. Law, morality, all that soft stuff is good for generating outrage & page impressions, but it has no bearing whatsoever on the interests of the fascists. They understand what is at stake (for themselves), therefore, all energies/resources are directed towards continuing the Ponzi.
However, there are those, both insiders trained in a 5,000 yo tradition, and outsiders who happen to be students of history, who realize that the end eventually comes - elementary mathematic principles of exponents makes this an iron-clad law. So, the trick for insiders (aka power hungry thrill seekers) is to not get out too early in order to maximize gains, whereas the task for outsiders is to get out earlier in order to prepare.
But either way, it all eventually comes crashing down. Knowing that should serve to keep one's blood pressure down - nothing is worse than emotion.
"The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power. Not wealth or luxury or long life or happiness: only power, pure power. What pure power means you will understand presently. We are different from all the oligarchies of the past, in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just round the corner there lay a paradise where human beings would be free and equal. We are not like that. We know that no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power."
-- Orwell, 1984
Don't forget "Markus Canary", also ex-Golden Slacker, and presently serving as the Centralized Bankster of Canada - also co-incidentally, just recently elected to serve as Head of the FSB (Financial Stability Board).
This posting was well earned after mandating $300B in over-priced private Cdn. mortgage pools be immediately (2007/8) transferred, at 100 cents on the dollar, from the Big 5 Cdn. Banks (... to free up their balance sheets) and stuffed into the Government's housing agency (CHMC) for a 100% socialized public guarantee on a third of a trillion of mortgage backed securities.
Not me. I have my sights set on a little lakefront cottage on Betelgeuse.
I hear it's lovely there this time of the year.
You're gonna get an X-factor sunburn when it goes supernova. I suspect it already has and we are just waiting for the speed of light effect to reach us.
You are falling into a trap! The correct spelling is Beetlejuice and the only thing waiting on you there is this.
Day-O! Day-ay-ay-O! The daylight come & we won go home...
Sugarman *snicker *snicker
"100 per cent certain that Unicredit broke the law while he was working there".
He's turning himself in then? No?
Fucking Aussies... offspring of criminals.
but that's exactly what he did when he went to the Regulators...
But they did nothing...
Excuse me but who enforces the law? Regulators?
He should be cuffed faster than Corzine.
you nailed it +10'000
I have the impression he is bragging
I hope that's not a Hawthorn guernsey he's wearing...
Read it again. He did turn himself in! Sugarman not meant to be a banker, not sociopathic enough.
Apparently, you didn't even read the article, let alone watch the video, before you simply felt compelled to blobifet nonsense out of your pestilential, putrescent, pustulous arse, MORON!
Wait...this sounds familiar...
"...It gets worse. Over the last decade, Citi has repeatedly been caught committing a variety of offenses, and time after time the bank has been dragged into court and slapped with injunctions demanding that they refrain from ever engaging the same practices ever again. Over and over again, they’ve completely blown off the injunctions, with no consequences from the state – which does nothing except issue new (soon-to-be-ignored-again) injunctions..."
The banksters must go! They are destroying the economy. I guess they only thing left to do is hedge with commodities and precious metals.
I am afraid that they have their fingers in those pies, right up to the elbows, nothing is safe.
Banksters are just lying, cheating, and stealing? No WAY!
huh? it's not just wall street? someone tell Crowley...
Life in a fucked up world circa 2011: Nick Leeson talking about risk management.
Regulation in a fucked up world circa 2011: Leave us alone, we're busy watching porn. Please, just don't do it again, OK?
Move along, no story here. BTW, Jon Corzine for Treasury Secretary.
hey, at this rate we should promote kerviel for sarkozy's replacement.
I don't understand. The swap lines are open, US banks have been slopping at the trough for years now. Yet the zero percent financing sits there unused?
The rates are there, but real money is not being offered to anyone. Go ahead and apply for a business loan. Unless you have an "in" with someone in the industry, you will get NOTHING.
I have a friend who is about to lose her husband's business because Wells Fargo is exercising the "payment in full" clauses of nearly all of their lines of credit that carry large balances. No, they never missed a payment.
They are battening down the hatches because they know it is about to get really bumpy for all the banks. Keynesian stimulus only works when an economy is experiencing a recession, but the fundamentals are strong. We are decades away from claiming ANY fundamental economic health.
However, this problem only ends with the Banksters. It began in Washington DC, the fix will need to begins there as well. As long as we continue down the road of entitletments, social engineering and central planning, we will continue to flounder.
hey more euro bashing by the people who invented warped derivative banking; are you seeing your own sad face in the euro banking farce? Who invented this system gone global...the GS disease is now world wide. Thank you very very much Wall Street.
but euro bashing is cool and makes you lots of friends
it's the "seasonal sell" of our beloved MegaBanks
Un fucking believable. Soon all trust in the Western Financial System will be lost. The Banksters will be all standing around with their dicks in their hand waiting for the next rube to come along........and nobody will come.
If you have any money at all in this "Financial System" you are an idiot. I'm looking at you Robo.
Buy "Stuff" and Gold and hold on.
Thats how I see it all, theres no one left to fool, all the zero interest trillions are just getting churned around banks, no ones playing their game anymore so they can pretend all they like I guess but really theyre just standing there playing with their dicks. So now what?
Yep just buy stuff youll need, forget the bankers and stocks and all this nonsense.
Crowley: if this gets out, who will deal with us?
Oh, the word's out alright, all around the world, and it aint just wallstreet. Our western markets are going ignored/hurting for generations, thanks to these greedy dickheads.
Congress exempts themselves from insider trading laws. How corrupt and evil are the USA lawmakers? Focus on the Pan Canadian pipeline...20,000 shovel ready jobs, reduced imports, secure source of crude from oil sands. Obama kills the project so Canada will move oil through existing pipeline to West coast of Canada and Oil will now be sold to China and USA will go begging for more imports from the middle east. Insanity reigns!!
What? An ex-government official with a brain. Get rid of him STAT!
The anarchist phrase
"We come to the point in time where it is too late to save the system..... AND TOO EARLY TO START HANGING THE BASTARDS!"
Comes to mind..
My favorite is 'replace the economy, ignore the government'.
One wonders how much risk JPM and Goldman have taken with this small disclosure:
JPMorgan Chase & Co. and Goldman Sachs Group Inc., among the world’s biggest traders of credit derivatives, disclosed to shareholders that they have sold protection on more than $5 trillion of debt globally. Just don’t ask them how much of that was issued by Greece, Italy, Ireland, Portugal and Spain.
I can hardly waith until either or both of those entites start telling us what the "NET" number is. Because as well all know there must not be a material amount of counterparty risk in hedging the sale of $5 Trillion fucking dollars of risk.
it doesn't matter what size of the problem because the gold market is big enough to absorb all money, and thus even $5 trillion of derivatives losses. What is important is that both these banks have access to gold which they do as Authorised Participants in Street Tracks ETF.
When the shit finally hits the fan they take the gold out by taking the long side of short trades with their clients and then cash in the shares in GLD et voila, everybody else loses everything and these banks remain solvent regardless of the extent of their losses. It all depends on the ultimate settlement value of gold.
Which should be significant...
Nobody will willingly pull the trigger, it WILL take an exogenous event to crash it.
Something like a tsunami into NY from the Azores or some such.
Otherwise this crap can go on forever, as long they dont print large denominations or allow unions to drive wage inflation, at least till oil prices blow everything the hell up.
an EMP over NY would be easier, more likely
Iranian long range missiles presently parked in Venezuella. Just sayin'.
I just hope that people start to see banking for what it is.
I know, I am an eternal optimist. You guys will hate me in the FEMA camp.
Newt tapped Freddie for $1.6M. Let it burn.
“If only they enforced bank regulations like they do park rules, we wouldn’t be in this mess.”
Make me one million t-shirts of this, no, make it a billion. Send the bill to (spins wheel) the Queen of frickin' England.
so mary schapiro runs the australian sec too
WHY are you rabbiting on about the 'Australia SEC' (no such body)?
And if you meant to say the 'Australian ASIC' (Australian Securities & Investments Commission) ... what has ASIC got to do with the article in question, which is about the IRISH (as in IRELAND) branch of an ITALIAN (as in ITALY) bank?
The only thing 'Australian' is the Foreign Correspondent of the (Australian) ABC (Australian Broadcasting Commission)
Another MORON -- they're out in force today, TD.
Private banks loaning currency to government is a criminal conspiracy. Start there and work your way out.
Saw this at the Starbucks the other day...
"It's the nutcracker!" Uh huh. Sure it is.
So is that why the market jumped 75 points in a couple minutes? Confirmation of complete disregard for the law means everyone is free to break the rules.
Really what happenned at 10:45 to give the market a nice boost?
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