Posts Tagged ‘DEBT CRISIS’

ΑΡΤΕΜΗΣ-ΣΩΡΡΑΣ-ΣΤΟ-ΚΑΝΑΛΙ-ΕΝΑ-1-ΚΑΒΑΛΑΣ-16-5-2899

Artemis Sorras: I’ll tell you a fact that,… I live for the moment,….
that while seeing you all on your knees….

And although I could have showed up and have all kneeling in front of me…. “such ability-possibility I possess”…
and that is in fact exactly what “the others” wanted me to do with all their proposals and so called DEALS…
I have made my decisions and the fact “EXCITES” me…
That all “those” who you consider as “big and important”… I’ll prove to you that they’re nothing more than….”bip”…..”bip”… And all those you think are sitting in so called “high places”… they’ll come to kneel in frond of your feet.!!!
So my fellow brother and fellow ELLIN… I’ve come to pull you up from you’re kneeling position “which you are in”, and you should “NEVER” allow your self to be there….
The Ellenic genus never kneeled not even to GODs… We always stared all directly in the eyes… As a matter of fact we the Ellines even opposed the GODs (on many occasions) to find-understand our Godly strength we always bear incite us….
…so I’ll make you stand up straight and I’ll have those animals kneeling before you.!!
This fact “excites” me greatly,… I’ve made my choises… simply because it’s what I have to do.!!!
If yoy don’t realize that yet…. well it’s your FREE WILL… so it’s basically up to you… But with your right for causalıty of how you want your self to be.
If my fellow Ellines don’t want that, let them tell me just that.!!
on the other hand… I call them all to come to the “E.SY NGOs” and all together as one, decide to order me to constract their Body-Entity… and from there we’ll get-take our “freedom”…. And I’ll finance everything… And I’ll finance everything, even though my fellow Ellines have their own money but their so called managers purposely ignore it.!!
Who’ll be your tomorrows director of these assets-amounts?? How will you (the people) “tomorrow” run all this intelligently??
I have it already set up for you… come and check it with your own intellect…
[Mr Sorra thank you for….]…
I – we all want a complete change… the “ELLINON STATE”.!! That’s a fact which I-we all will complete (no matter what and no matter the cost) so let’s do it and….
At least even though there’s no chance of failure… It’ll be our own responsibility, our own choice.!! …Basically EVERYTHING else has failed, everywhere-anyhow.!!
ALL HAVE FAILED… dogmas – political parties – ideologies…

THE WHOLE PLANET HAS FAILED and is BANK ROBBED and all Countries on it are dying..!!
So tell me which Country is in good state?? Which one has a good prosperous system?? Which Country has good policy?? Which Country has good economy?? “NONE”.!!!
Well then… gentlemen (PLANET Managers), you’ve all FAILED.!!
[Mr Sorra… thank you very much…]

Artemis Sorras: My regards to all Ellines & People Fighters.!!

Looking back at the Lehman Brothers collapse of 2008, it’s amazing how quickly it all happened.  In hindsight there were a few early-warning signs,  but the true scale of the disaster publicly unfolded only in the final moments before it became apparent that Lehman was doomed.

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First, for purposes of drawing a parallel, let’s re-cap the events of 2007-2008:

There were few early indicators of Lehman’s plight.   Insiders however, were well aware:   In late 2007, Goldman Sachs placed a massive proprietary bet against Lehman which would be known internally as the “Big Short”.  (It’s a bet they would later profit from during the crisis).

In the summer 2007 subprime loans were beginning to perform poorly in the marketplace.  By August of 2007, the commercial paper market saw liquidity evaporating quickly and funding for all types of asset-backed securities was drying up.

But still — even in late 2007,  there was little public indication that Lehman was circling the drain.

Probably the first public indication that things were heading downhill for Lehman wasn’t until June 9th, 2008,  when Fitch Ratings cut Lehman’s rating to AA-minus, outlook negative.   (ironically, 7 years to the day before S&P would cut DB)

The “negative outlook” indicates that another further downgrade is likely.   In this particular case, it was the understatement of all time.

A mere 3 months later, in the course of just one week,  Lehman would announce a major loss and file for bankruptcy.

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And the rest is history.

 

Could this happen to Deutsche Bank?

First, we must state the obvious:  If Deutsche Bank is the next Lehman, we will not know until events are moving at an uncontrollable and accelerating speed.   The nature of all fractional-reserve banks — who are by definition bankrupt at all times – is to project an aura of stability until that illusion has already begun to implode.

By the time we are aware of a crisis – if one is in the offing — it will already be a roaring blaze by the time it is known publicly.   It is by now well-established that truth is the first casualty of all banking crises.  There will be little in the way of early warnings.   To that end, we begin connecting the dots:

Here’s a re-cap of what’s happened at Deutsche Bank over the past 15 months:

  • In April of 2014,  Deutsche Bank was forced to raise an additional 1.5 Billion of Tier 1 capital to support its capital structure.  Why?
  • 1 month later in May of 2014, the scramble for liquidity continued as DB announced the selling of 8 billion euros worth of stock – at up to a 30% discount.   Why again?  It was a move which raised eyebrows across the financial media.  The calm outward image of Deutsche Bank did not seem to reflect their rushed efforts to raise liquidity.  Something was decidedly rotten behind the curtain.
  • Fast forwarding to March of this year:   Deutsche Bank fails the banking industry’s “stress tests” and is given a stern warning to shore up it’s capital structure.
  • In April,  Deutsche Bank confirms its agreement to a joint settlement with the US and UK regarding the manipulation of LIBOR.   The bank is saddled with a massive $2.1 billion payment to the DOJ.  (Still, a small fraction of their winnings from the crime). 
  • In May,  one of Deutsche Bank’s CEOs, Anshu Jain is given an enormous amount of new authority by the board of directors.  We guess that this is a “crisis move”.  In times of crisis the power of the executive is often increased.
  • June 5:  Greece misses its payment to the IMF.   The risk of default across all of its debt is now considered acute.   This has massive implications for Deutsche Bank.
  • June 6/7:  (A Saturday/Sunday, and immediately following Greece’s missed payment to the IMF) Deutsche Bank’s two CEO’s announce their surprise departure from the company.  (Just one month after Jain is given his new expanded powers).   Anshu Jain will step down first at the end of June.  Jürgen Fitschen will step down next May.
  • June 9: S&P lowers the rating of Deutsche Bank to BBB+  Just three notches above “junk”.  (Incidentally,  BBB+ is even lower than Lehman’s downgrade – which preceded its collapse by just 3 months)

And that’s where we are now.  How bad is it?  We don’t know because we won’t be permitted to know.  But these are not the moves of a healthy company.

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How exposed is Deutsche Bank?

The trouble for Deutsche Bank is that its conventional retail banking operations are not a significant profit center.  To maintain margins, Deutsche Bank has been forced into riskier asset classes than its peers.

Deutsche Bank is sitting on more than $75 Trillion in derivatives bets — an amount that is twenty times greater than German GDP.    Their derivatives exposure dwarfs even JP Morgan’s exposure – by a staggering $5 trillion.

With that kind of exposure, relatively small moves can precipitate catastrophic losses.   Again, we must note that Greece just missed its payment to the IMF – and further defaults are most certainly not beyond the realm of possibility.

 

Not good.

And if the dominos were not adequately stacked already, there is one final domino which perfects the setup.

Meet Tom Humphrey.  He heads up Deutsche Bank’s Investment Banking operations on Wall Street.

He was also head of fixed income at Lehman.

Prior history.

History never repeats.   But it does rhyme.    In market terms, it tends to rhyme just about every 7 years.

-NQ

 

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Loukanikos was often pictured at front line of protests

Thursday 09 October 2014

Loukanikos, the much-loved Greek riot dog who became internationally famous for appearing on the front line of anti-austerity protests in Greece, has sadly passed away.

Greek media reports that Loukanikos, or ‘Sausage’ in English, died two years after he retired from protests in Athens.

The canine became a symbol of resistance in Greece after he was pictured facing off with riot police and surrounded by tear gas during various demonstrations.

Protesters said he would often stand with them during bouts of unrest and protect people by grabbing tear gas canisters and pushing them away.

Loukanikos caused particular delight when he was seen holding his own with a policeman before running up and down the city’s main boulevard and relieving himself.

However, his health was said to have been severely affected by the tear gas and he eventually retired as the Eurozone protests began to ease, where he was cared for by an Athens man.Athen’s-based journalist Damian Mac Con Uladh said Loukanikos died peacefully. He was believed to have been aged about ten-years-old.

News of his death prompted an outpouring of tributes to Loukanikos on Twitter. One user wrote: RIP Loukanikos – you’ll always be remembered little comrade!

What Is the “American Dream”?

The term “American dream” is used in many ways, but it essentially is an idea that suggests that anyone in the US can succeed through hard work and has the potential to lead a happy, successful life. Many people have expanded upon or refined the definition to include things such as freedom, fulfillment and meaningful relationships. Someone who manages to achieve his or her version of the American dream is often said to be “living the dream.” This concept has been subject to criticism, because some people believe that the structure of society in the US prevents such an idealistic goal for everyone. Critics often point to examples of inequality rooted in class, race, religion and ethnicity that suggest that the American dream is not attainable for everyone.

History

The idea of an American dream is older than the US, dating to the 1600s, when people began to have all sorts of hopes and aspirations for what was a new and largely unexplored continent to European immigrants. Many of these dreams focused on owning land and establishing a prosperous business that — theoretically, at least — would increase one’s happiness. During the Great Depression of the 1930s, authors often wrote about the idealistic American dream, somewhat codifying the concept and entrenching it in American society.

Stereotypical Dream

The dream for Americans is often portrayed as being perfectly average. For example, some people might say that it is being married, having two children and living in a three-bedroom home with a white picket fence. Rather than being based on great wealth or success, this version of the dream might be based more on avoiding things such as poverty and loneliness.

Improving Upon the Past

Some people say that the American dream represents the desire to live a better life than the previous generation did — and that there is a legitimate opportunity for this to happen. The desire among many parents is for their children to lead happy lives. This is especially true among immigrants, because many of them fled extremely difficult circumstances in their native countries.

Criticisms

The idealistic vision of the American dream often disregards discrimination based on a person’s race, religion, gender and national origin, which might inhibit his or her ability to achieve specific goals. Critics also point out that many versions of the dream equate prosperity with happiness, and that happiness is possible without wealth or even in poverty. To some people, the American dream might be more about personal fulfillment than about economic success or owning property.

by John Galt

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The distrust of central banksters continues to expand as now Austria follows Germany by sending a delegation to the United Kingdom to verify that their gold holdings are in fact even there and on deposit at the Bank of England. From the GoldReporter.de:

(translated via Google)

Austria can check the gold reserves at the Bank of England

The Court of Austria is sending  a delegation to the Bank of England. It is to examine the existence and condition of an estimated 150 tons of Austrian monetary gold.

The  gold is stored at the Bank of England’s gold reserves Austria to be subjected to an inventory. According to business magazine Trend of the Austrian Court of Audit is planning to send a delegation to London to inspect the gold bars on site.

There are no official figures on how much gold is stored exactly in London. In the Press is talk of about 150 tons of gold. The total gold reserves are estimated at 280 tons of Austria. Only 17 percent (47.6 tons) of gold should be located in their own country.

The decision to an examination of the Austrian gold reserves is ultimately the result of rising public Drucks. After the federal bench with her ​​last year repatriation program was active, and political forces tried in Austria for more transparency and a proof that the gold bars abroad actually exist are. Among other things, the FPÖ’s initiative, “Save our Austrian Gold” mood.

“I understand the suggestion. Every grocer must take inventory once a year. Just as the absurd rumors can be removed from the world, “said Ewald Nowotny, Governor of the Austrian National Bank.

If Austria and Germany can not trust the Federal Reserve and Bank of England, why should any citizen in the United Kingdom or United States have faith in the activities of these den of thieves and their activities? Of course the Fed would never lie about how much gold it has, after all, why should they?

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SHOCK! U.S. Federal Reserve secretly gave $ 7.7 trillion. U.S. banks before the crisis of 2008

Published on Jun 22, 2013
While in the U.S. Congress considered every dollar the Fed just printed $ 7.7 trillion. and gave the banks in the form of loan bezprotsentnogo.
Thereby the Fed once again showed who really controls the U.S..
taken on channel Novosti novostey http://www.youtube.com/watch?v=w0MPnX

Why silent Nemtsov?

Where angry voice A.Navalnogo?

Why not clams L.Ponomarev, A.Podrabinek and L.Alekseeva?

What “Seated Russian” lurking? Where, finally, of protest against the persecutors Snowden from the “Helsinki Group”, “Amnesty International”, “Transparency International-Russia” and other “Doctors Without Borders”?

Yes, and “World Wildlife Fund”, “Greenpeace” and forgive me, the LGBT community could also speak. Cho they are silent, then?

http://www.youtube.com/watch?v=AqPo4TSi_1w