Want To Trade FX On Inside Information? Here Is How To Do It, Straight From Kashya Hildebrand

Tyler Durden's picture

Wondering how wives of (ex) central bankers would engage in insider trading if that was their intent (forgetting for a second that if one is the wife of a central banker one probably should not be engaging in any FX transaction to begin with)? Now we know, courtesy of this first interview with the wife of the former SNB head following his departure in which she tell us how a former Moore Capital currency trader would engage in FX insider trading "if one wanted to..."

 

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kato's picture

it was pretty bad. she invoked God on her side, to which, among other things, it is very easy to call BULLSHIT

Azannoth's picture

"I will tell the Truth and only the Truth, so help me God" hmmm just maybe the whole legal and much of the social  system is BS(hint. yes it is)

Alien Invader's picture

GUILTY! 

Also someone should check and find out how much she actually made on her numbered swiss bank accounts where she performed the direct trade of Euro vs. SF.

Pegasus Muse's picture

Call me gullible but she impressed as sincere.  Did she screw up?  No doubt.  Who among us hasn't.  There probably is much more cunning conniving BS to this story than has surfaced so far. 

LawsofPhysics's picture

"Did she screw up?  No doubt."

 

Totally irrelevant, the REAL question is will she be held accountable (as 99.9999999% of us would be).  Prosecute the fucking fraud already, at ALL levels.

Pegasus Muse's picture

By all means.  Let's start with Jaime Dimon, Lloyd Blankfein, Hanky Panky Paulson, TaxCheat Timmy, and last but not least Jon "I may be a Thieving Bankster but, more importantly, I'm Barry Soetoro's bestest campaign fund raising buddy" Corzine. 

Hober Mallow's picture

She smiles because she knows she just pocketed 1M bucks. I would smile too.

If she sells in dollars and lives (spends) in Switzerland, wouldn't the natural trade be reverse?

sell usd and buy chf?

what a load of bull sit.

ajax's picture

 

If she sells in dollars and lives (spends) in Switzerland, wouldn't the natural trade be reverse?

sell usd and buy chf?

Not in July and August 2011

Just let me point out a simple fact of life: here in Suisse during July and August 2011 everyone and their parrot and their cat and dog was trading in CHF either for Euro or USD (or both) and all of them for different reasons. Some for shopping in the EU, some for a future holiday in the US, some for their business margins...we ALL knew that the rise of the CHF couldn't go on forever. Get off this woman's case.

Ghordius's picture

and her story makes sense: sold a vacation apartment for CHF, CHF/USD balanced portfolio skewed vs. CHF, changed some to USD (you don't think she has a portfolio of 500k only, do you?) found a new house , bought it with CHF, CHF/USD balanced portfolio skewed vs. USD, meanwhile husband has devalued CHF, so she rebalances the portfolion...

but of course, the wife of Caesar has to appear virtuous, too

-------

"pocketed 1M bucks"? I understood 70k

sqz's picture

Spot on, on both counts.

There is nothing even remotely newsworthy about this whole issue (not a poke at ZH at all, just in general). It is Swiss domestic politics wrapped up in financial language and then stoked by world media.

All this controversy is merely for keeping up appearances on what would otherwise be perfectly normal private financial transactions for a rich Swiss multinational.

The irony of it all is that now all central bankers everywhere will go out of their way to hide or chain deep buffers around any and all transactions that would otherwise give a mere appearance of controversy!

Thus, the real democractic goals of transparency and compliance for high level servants of the state just got further abused.

I mean, seriously, just think about it: if a central bankers family had been trying to make gains based on non-public information, there are a lot easier and much more effective ways to do so!

I can only conclude the guy resigned for two reasons:

  1. his perceived lack of judgement on public transparency in not reversing the transaction(s) or perhaps for not seeking advice or even receiving incorrect advice from his institution about them
  2. his wife insisted that these kind of transactions will continue in future because she has as much right to her run her business as anyone else, even if it risked affecting his reputation. A sort of "further Swiss central bank career or our marriage: your choice!"

Guess with such a strong-willed partner, Hildebrand decided he had had good run anyway already and it was time to leave.

Either way, it has zero impact in finance or economics in the greater scheme of things.

rcintc's picture

The lady doth protest too much, methinks.

Popo's picture

She seems awfully surprised that there was a media-bloodlust to see her husband de-throned.

She's going to be even more surprised when real blood starts flowing.  She clearly has absolutely no idea what public sentiment is right now.

Was there anything you wanted to say about the public being allowed to eat cake, Kashya?

 

(Has no one advised this idiot to stop speaking to cameras?  Her media-savvy is about a 3, on a 1-100 scale.   So much for being multi-cultural,  intellectual, worldly and savvy.   Dear Kashya -- for your own sake,  keep your man-mouth shut.

chumbawamba's picture

Check out her eyebrows.  The bitch has major bush.

I am Chumbawamba.

Mr Lennon Hendrix's picture

And since she has everything done for her I bet she doesn't shave.

ajax's picture

 

And since she has everything done for her I bet she doesn't shave.

 

God I hope not.

ElvisDog's picture

Don't be silly, all fashionable young or wanna-be-young women shave these days.

ajax's picture

 

Yeah? Well Mme. Hildebrand is no wannabe.

CuriousPasserby's picture

So you also noticed that eyebrows indicate bush size! So the Muzzies who cover their heads and only show their eyes and eyebrows don't realize we can imagine their bushs. The ones who know wear the full body burka.

Blank Reg's picture

It's nice to see this story has taken and intellectual turn.

TheGardener's picture

I only look at their eyes. The bush is so much eighties , no need to look at eyebrows anymore, and it only mattered for blondes who shaved off that yellow filthy hair long before all got shaved. And for who is really watching the Muzzies :
they tend to have bare feet under the whole lot of burkareske clothing, and those limbs are more than telling too !

Miss Expectations's picture

You disappear for months at a time and that's all you've got?

Tim White's picture

Look at her eyes. The right one is dead to this world, and the left one is cold.

Bicycle Repairman's picture

We can start anywhere.  Like this bitch, for example.

ElvisDog's picture

will she be held accountable

Hah, you're cute when you try to apply "what should be done" to bankers or bankers' wives.

Mercury's picture

Yeah but what an absolute cunt. 

Surely, she pleads, anyone can understand how one would want to hedge against one's own domestic currency (which one's husband controls) after one's chalet has been liquidated?  I mean, what would you do?

Also gotta love how she describes her "very good looking (that is clear) husband" as being a member of the G30 - "the most prominent, academic and intellectual institution in the world" -pa-leeze.

Oh, and the assumption that her "multicultural and ethnically diverse" family makeup places her above any ethical censure as she is seated firmly on both shoulders of God.

Can't wait until you're abandoned to your schlock boutique  there sweetheart...spilling your troubles to a bunch of mincing flunkies while your husband sets up house with the au pair you once hired.

ConfederateH's picture

The most pathetic part is that she thinks that anyone cares when flashes her multi-culti street creds.  In this she is just like Michele Obama, so stupid that she doesn't even realize her own reverse racism.  She is just as blind to her racism as an ante-bellum plantation owner.

Mercury's picture

How many PC points is a marriage between a Western European and a U.S citizen with an American mother worth these days anyway?

ConfederateH's picture

You will have to ask the neauveau aristocracy that question.  Does she have the pakistanti blood lines to back up her elitist arrogance, or is the art gallery her means to grovel to her betters and seek their favor?

Popo's picture

How is being American and Swiss even remotely multicultural?  Banking culture is homogenous the world over.  She's pure, unadulterated Wonder Bread.

When they start dragging bankers behind pickup trucks and hanging them from bridges,  I hope no one forgets dear Mrs. Hildebrand.    

 

ajax's picture

 

Surely, she pleads, anyone can understand how one would want to hedge against one's own domestic currency

 

Do us all a favour mate.

ElvisDog's picture

Couldn't agree more. My God, what a bitch. The very epitome of a wealthy cunt with an incredible ego and sense of entitlement. Her "I wouldn't be so stupid" defense is really her saying "I'm above any law, so why are you bothering me and my good-looking husband with these trivialities". Of course she's guilty. She did it because it was easy with all the information she had access to from her husband and his friends and because she knew that even if she got caught nothing would happen to her. That is why she didn't bother with the protections and cover-ups that she mentioned.

ajax's picture

 

Stay in Memphis Elvis

Popo's picture

The two lines that really got me were:

 

1)  "Yes, he's very good looking"     (Where the fuck did that come from?)

 

2)   He's a member of the G3..  Probably the most prestigious and intellectual organization in history.

 

LOL?????

 

AgShaman's picture

To each his/her own I guess...

The line that got me:

"If you're a Central Banker....and if you are working as hard as my husband was working"

hahahaha....I can imagine it's really hard work...being a central banker...manipulating currency exchange rates...and keeping it all secret from their wives.

Ugh....well she loves and deals in art....

the art of selling the fantasy of bankers working hard could be added to the list I suppose

PontifexMaximus's picture

It was not a numbered account, it was the account of her gallery and her daughter's account, all trades done by KH and PH via Bank Sarasin in Zürich, account executive Felix Scheuber. She cashed in some 70 grans CHF . Trades were done in the pair USD/CHF not against EUR.

ajax's picture

 

Who are these ZHers who are trading in their pathetic dollars for silver and gold paper and physical while at the same time coming down on someone who did a smart trade that it didn't take insider information to know was a smart move. If you weren't here in mid-summer 2011 then shut the fuck up about the whole thing.

Urban Redneck's picture

Why would the proceeds of a home sale be deposited in a business account, commingling of funds is a whole separate legal and ethical minefield?

Cognitive Dissonance's picture

Invoking "God" is the ultimate self righteous justification for various nefarious actions and this rationalization has been eagerly used by pricks (and princess pricks) big and small throughout history.

But it's not just the big guys who do so. Anyone remember "Praise the Lord and Pass the Ammunition"?

http://en.wikipedia.org/wiki/Praise_the_Lord_and_Pass_the_Ammunition

My present day favorite is players on both sides of the (foot)ball praying to "God" to win the game. "Tiny" Tim Tebow comes to mind in this case, but the world of sports has a long (and bloody) tradition of invoking God and country. 

Azannoth's picture

Sport is just an euphemism and substitute for armed conflict, just a way to tame the desire to kill

DaveyJones's picture

I once pricked a princess on a prickly pear plateau

she told me i was her best then mistook my name as joe 

ReactionToClosedMinds's picture

surprised it took this long for some Tebow hater to surface.

 

Hate'em high ..... you'll live longer off the positive life force energy .....

 

Tebow and the wife of the former SNB head ....... of course there is a connection ,,,, it is obvious .....(not ....)

5880's picture

I have friends who have gone into public service and been forced to cash (basically). Cash removes the perception of influence. I don't see how they thought they were above this perception?

AbelCatalyst's picture

Um, did I see an Adams Apple?

orangedrinkandchips's picture

Baby jesus defense?

 

fucking cunt

Deadpool's picture

Did she read O.J. Simpson's book "If I Did It"?

hidingfromhelis's picture

For some narcissicists, it's not enough to get away with it, they have to gloat.  Sometimes the line between self-delusion and rubbing it in everyone elses' faces is blurred; it seems.