TARGET-2 Imbalances – “The Debt Crisis Is Eating Its Way Ever Further Into Europe’s Core”
A Glimpse At Deutsche’s Riskless EUR68 Million DV01 Libor “Bet”
“At the height of the financial crisis in 2008, Deutsche Bank made some extraordinarily large bets. As the WSJ reports, documents uncovered from the Libor rate manipulation investigation show huge outsized bets that would swing EUR68 million on a 1bps shift in the Libor rate that they have since been charged with manipulating. Sure enough, with regards the risk (which was large enough to be brought to management’s attention), officials “dismissed those concerns because the bank could influence the rates they were betting on.””
“The bets (which made the bank at least $654 million) were a series of steepening trades (as opposed to outright positions) which were implicitly highly leveraged to provide the most bang for their manipulated and un-capitalized buck (and perhaps explains the fact that Deutsche had to hide a $12 billion loss during this period in order to avoid a government bailout) in what was a remarkably volatile time for these rates.”
California Cities Sue Banks Over Libor Rates, Law Firm Says
“Eight California counties and public entities sued UBS AG (UBSN), Barclays Plc (BARC) and 20 other banks alleging they lost millions of dollars because the financial institutions manipulated the benchmark Libor rate.”
“The plaintiffs claim they were cheated out of higher interest payments on investments such as interest-rate swaps and corporate bonds tied to Libor.”
The dreaded interest-rate swaps.
LIBOR rigging is the insider trading scandal with the largest illegal profits in financial history and all we are seeing are civil actions not criminal custodial sentences.
Greek Unemployment Soars To New Record, 56.6% Of 15-24 Year Olds Without Job (from 56.4%)
“the broad unemployment rate soar to a fresh record high of 26.8% in October (24.1% males, 30.4% females – that’s nearly one in three), up from a pre-revision 26.0% in September, and up from 19.7% a year ago”
Oh yeah, the euro currency is working just fine for the Greeks, NOT.
It’s Official: It’s A Broken Market And “Hundreds Of Thousands” of Orders Affected
“*BATS SAYS ‘SYSTEM ISSUE’ CAUSED PRICING PROBLEMS OVER 4 YRS:WSJ”
Trillion Dollar Coin Reveals the Monetary System in Death Throes
Trillion-dollar platinum coin, no crazier than the other debt ceiling ‘solutions’?
“PPCS calls for the minting of proof platinum coins with arbitrarily high face values”
The valuation from metal content would take more platinum than exists – very, very scary. In other words, our monetary overlords are out of options with this debt based ponzi scheme monetary system after it has made the owners of the private central banks fabulously wealthy.
Chinese November Gold Imports Soar To 91 Tons; 2012 Total 720 Tons
This Is About To Rock The Financial World
“Today the man that has been meeting for the last two years with key foreign governments and sovereign wealth funds told King World News that many of these entities have “…reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).” He also warned, “I think that is really going to rock the financial world at some point in the near future.””
MF Global judge nixes customer group’s bid to depose Corzine
“A bankruptcy judge on Tuesday rejected a bid by former MF Global customers to depose the collapsed brokerage’s former chief, Jon Corzine.”
“In a written ruling in U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn said the Commodity Customer Coalition, which had sought permission to question Corzine and other former MF Global insiders, lacked standing because it is not a direct creditor in the case.”
MF Global had custody of these people’s property – namely $1.6 billion.
KPMG expects bigger payouts to MF Global UK clients
“As a result of money changing hands during MF Global’s chaotic collapse, various company affiliates have been fighting over who owes whom.”
The coming collapse is going to be a counterparty firestorm.
Court Filing: Cops Seized Prescription Meds Belonging to ‘Batman’ Shooter
“However, the documents are heavily redacted and the exact identity of the drug has been withheld.”
How do you like that ? Which pharmaceutical company should be getting the blame for frying this guy’s brain ?
Beware The Taxman Cometh
“Starting in 2014, ALL banks in Britain will report directly to the IRS and vice versa.”
Since when are Britons subject to the IRS of the USA ?
Over 40 Plant-Based Compounds Halt the Spread of Cancer
“What they found was that things like amino acids, ginseng extract, vitamin D, curcumin (found in turmeric), and pomegranate juice all affected metastasis suppressor genes in one way or another.”
Cancer is mostly due to dietary deficiencies.
MIT takes Cold Fusion seriously.
Avoid the Pharmacy: Fight the Flu with Remedies from the Kitchen
“Garlic and Onions”
Reality Check: Piers Morgan vs Alex Jones, and the Truth About Gun Homicide Rates
Chris Hedges on Gun Rights, Obama’s Empire, and Serious Revolt
“Abby Martin interviews Pulitzer Prize winning journalist, Chris Hedges, about activism and journalism, Obama’s presidency, the death of the liberal class and the second amendment.”
Piers Morgan vs Larry Pratt 01/09/2013
Larry Pratt: British Gun Crime Stats are a “Sham”
“The report that Pratt was referring to was discussed in a March 26, 2001 article by Dave Kopel, Dr. Paul Gallant and Dr. Joanne Eisen, entitled “Britain: From Bad to Worse“.”
“In this article, the authors explained that “the violent crime rate has risen dramatically and steadily since gun bans have been instituted,” and that Britain had accordingly lost its reputation as an “unusually safe and crime-free nation”.”
“For example, where a series of homes were burgled, they were regularly recorded as one crime. If a burglar hit 15 or 20 flats, only one crime was added to the statistics.”
“But that’s only through 2000. Has this problem gone away in recent years? No. An article published by the Telegraph in 2008 explained how “the true level of gun crime” is (still) “far higher than the Government admits in official statistics”:”
“Data provided to The Sunday Telegraph by nearly every police force in England and Wales, under freedom of information laws, show that the number of firearms incidents dealt with by officers annually is 60 per cent higher than figures stated by the Home Office.”
“Last year 5,600 firearms offences were excluded from the official figures. It means that, whereas the Home Office said there were only 9,800 offences in 2007/8, the real total was around 15,400. The latest quarterly figures, due to be released on Thursday, will again exclude a significant number of incidents.”
“Similarly, The Independent has reported on a 2007 study which found that around TWO MILLION (2,000,000) violent crimes are excluded from the yearly British Crime Survey totals due to a “misleading” and “bizarre distortion in the Government’s flagship crime figures.””
Americans never give up your guns
“This well armed population was what allowed the various White factions to rise up, no matter how disorganized politically and militarily they were in 1918 and wage a savage civil war against the Reds. It should be noted that many of these armies were armed peasants, villagers, farmers and merchants, protecting their own. If it had not been for Washington’s clandestine support of and for the Reds, history would have gone quite differently.”
Evidence: Sandy Hook School Shooting Staged by Factions of US Government and Mainstream Media?
“Newtown Police: ‘Two Occupants with Ski Masks, One May be Wearing a Nun Outfit’”
More incorrect date stamping ?
The Face of the Killer Who Is Your President
“Last Friday, I met a boy, just before he was assassinated by the CIA. Tariq Aziz was 16, a quiet young man from North Waziristan, who, like most teenagers, enjoyed soccer. Seventy-two hours later, a Hellfire missile is believed to have killed him as he was travelling in a car to meet his aunt in Miran Shah, to take her home after her wedding. Killed with him was his 12-year-old cousin, Waheed Khan.”
WHY … DID … THIS … 12 … YEAR … OLD … BOY … AND … 16 … YEAR … OLD … BOY … HAVE … TO … DIE ?
We are way beyond the atrocities during the Vietnam war.
Mexico’s Most Feared Drug Cartel has Entered the Coal Mining Business
“In the past few years they have taken control of Mexico’s Coahuila region in the north, along the border of Texas, and are now starting to thrive like never before. Los Zetas covertly entered the region, and under the threat of extreme violence for those who didn’t cooperate they swiftly brought every aspect of commerce, politics, and business under their control in less than three years.”
Saudi Arabia mulling over changing approach to Syria
“A recent report released by the Lebanese As-Safir daily has suggested a likely withdrawal of Saudi Arabia from among the list of foreign states that are funding and supporting the Syrian opposition.”
One of many dominoes I hope will fall.
India Signs Mandatory GMO Labeling into Law
One of many dominoes I hope will fall.
What price the new democracy? Goldman Sachs conquers Europe (18 November 2011)
“By imposing rule by unelected technocrats, it has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic.”
I recommend that everyone secede from the ponzi scheme bankocracy.
PsyWar – The Real Battlefield is the Mind
Why US Prisons Are So Overcrowded
“fully 24 percent of inmates in U.S. prisons are non-violent drug offenders.”
Shortage: Australian Grocery Stores Forced to Ration Baby Food
Using the Theater of Fear to Pass Unjust Laws
“In fact, the current gun “debate” bears a stark resemblance to the debate surrounding the passage of the PATRIOT ACT shortly after 9/11. Then, as now, a sizable portion of the population had been terrified by an event of a questionable nature into enthusiastically surrendering their freedom for a perception of security.”
To anyone who has been terrified by the Sandy Hook shooting, I would say grow the hell up because gun deaths is superseded by 9 other top causes of deaths – 1,082,755 for the other 9 vs 11,493 for firearm homicides or 1%
The Authoritarians March: Cuomo Vows to ‘Enact the Toughest Assault Weapon in the Nation, Period!’
Cuomo says ‘hunters and sportsmen’, I say ‘security of a free state’. How secure was 1930s Germany after Adolf Hitler took the guns from the German people ?
Firearms in the hands of a free people of a nation is the Sword of Damocles above it’s government should it ever wish to become a lawless government.
Ron Paul Warns of 2nd American Revolution if Obama Bans Guns with EO