Dec 18

I do not believe anything a Rothschild puppet bankster tells me, and that includes Societe Generale, especially if they are telling us vague, unsubstantiated BS like …

It appears possible that the Central Bank of Russia has started to sell off some of its gold reserves in December, with some sources reporting that official gold reserves dropped by $4.3 billion in the first week of the month.”

“It appears possible …” Yeah, right!

Why not sell those soon to be worthless U.S. Trashury (sic) holdings instead …

- China, Russia Dump US Treasurys In October As Foreigners Sell Most US Stocks Since 2007 (ZeroHedge, Dec 15, 2014):

As for Russia, after selling $9.7 billion in October (a process which certainly continued in November) its latest total is just $108 billion, or just modestly higher than the $100 billion hit in March after the Ukraine conflict first broke out, and the second lowest total Russian Treasury holdings since 2008.

… and BUY gold and ask China to do the same.

Selling Russia’s gold? Putin might as well shoot himself in the foot (unless he too is an elite puppet).

Related info:

- Is Ruble Collapse Act of War-Paul Craig Roberts

- Grandmaster Putin’s Golden Trap:

Putin chess

Very few people understand what Putin is doing at the moment. And almost no one understands what he will do in the future.

No matter how strange it may seem, but right now, Putin is selling Russian oil and gas only for physical gold.

Putin is not shouting about it all over the world. And of course, he still accepts US dollars as an intermediate means of payment. But he immediately exchanges all these dollars obtained from the sale of oil and gas for physical gold!

How long will the West be able to buy oil and gas from Russia in exchange for physical gold?

– And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?

No one in the west today can answer these seemingly simple questions.

And this is called “Checkmate”, ladies and gentlemen. The game is over.

********

The above article was translated buy Kristina Rus – which originally appeared in Russian  at http://investcafe.ru/blogs/mbcy/posts/46245#


Putin-Gold

- Russia Has Begun Selling Its Gold, According To SocGen (ZeroHedge, Dec 18, 2014):

A few days ago, we first reported a rumor that was floating around Wall Street desks, and which, according to some, was the “reason” that gold was being kept lower even as sovereign risk was exploding around the globe. The rumor was that Russia was selling its gold holdings:

This led to Bloomberg speculating, and us rhetorically asking, if “Putin’s next step will be to sell gold

“Russia is at a critical juncture and given the sanctions placed upon them and the rapid decline in oil prices, they may be forced to dip into their gold reserves, if it happens it will push gold lower.” That is what, according to some people Bloomberg has quoted, is in the cards.

While some suggest the accumulation was “tradition” it is still nonetheless an impressive aggregation of the barbarous relic:

Russian Gold Reserve

So given the efforts to build this gold-backing for their nation’s currency, do we really expect Putin to now dump his physical: or perhaps more strategically suggest a true gold-backed currency and jawbone the currency that way?

So what is the truth? Well, we won’t for sure until the next official report by the Central Bank of Russia hits the IMF database,  but in the menatime, SocGen just reported that the selling may have started: Continue reading »

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Dec 18

Switzerland

- Swiss Central Bank Plunges Into NIRP, Sends Deposit Rates Negative, Scrambles Against Safe-Haven Capital Flight (ZeroHedge, Dec 18, 2014):

Everyone thought that any major monetary policy surprises and/or capital controls today would come from Putin during his annual press conference. Boy were they wrong: just after 2 am Eastern, none other than the Swiss National Bank joined the ranks of the ECB in scrambling to stem the wave of capital flight, not to mention the cost of money, when it announced it too would start charging customers for the privilege of holding cash in its banks, when it revealed a negative, -0.25% interest rate on sight deposits: a step which according to the SNB was critical in maintaining the 1.20 EURCHF floor.

From the SNB:

The Swiss National Bank (SNB) is imposing an interest rate of –0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month Libor into negative territory. It is thus expanding the target range for the three-month Libor to –0.75% to 0.25% and extending it to its usual width of 1 percentage point. Negative interest will be levied on balances exceeding a given exemption threshold. Continue reading »

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Dec 18

Fly in Venus flytrap

- IMF Now Ready To Slam The Door On The U.S. And The Dollar (ALT-MARKET, Dec 17, 2014):

As I write this, the news is saturated with stories of a hostage situation possibly involving Islamic militants in Sydney, Australia. Like many, I am concerned about the shockwave such an event will create through our sociopolitical structures. However, while most of the world will be distracted by the outcome of this crisis (for good or bad) for at least the week, I find I must concern myself with a far more important and dangerous situation.

Up to 40 people may be held by a supposed extremist in Sydney,but the entire world is currently being held hostage economically by international banks. This is the crisis no one in the mainstream is talking about, so alternative analysts must.

As I predicted last month in “We Have Just Witnessed The Last Gasp Of The Global Economy,” severe volatility is now returning to global markets after the pre-game 10 percent drop in equities in October hinted at what was to come. Continue reading »

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Dec 17

20141217_RUB2

- Russian Central Bank Releases 7 Measures It Will Take To Stabilize The Financial Sector (ZeroHedge, Dec 17, 2014):

In its latest effort to counter financial instability – and show its commitment to maintaining order and support for the economy – Russia’s Central Bank (CBR) has unveiled 7 new measures… Ranging from bank recaps to measures aimed at helping manage interest-rate and credit risks, the reaction in the Ruble is positive for now… as perhaps, taking a lesson from the US, The CBR removes Mark-to-Market accounting for various credit instruments. Continue reading »

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Dec 17

Shitibank

More here:

- THe CRoMNiBuS OF LiBeRTY… (ZeroHedge, Dec 16, 2014)

 

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Dec 17

Vladimir-Putin

- A Full-Blown Economic Crisis Has Erupted In Russia (Economic Collapse, Dec 16, 2014):

The 8th largest economy on the entire planet is in a state of turmoil right now.  The shocking collapse of the price of oil has hit a lot of countries really hard, but very few nations are as dependent on energy production as Russia is.  Sales of oil and natural gas account for approximately two-thirds of all Russian exports and approximately 50 percent of all government revenue. So it should be no surprise that the fact that the price of oil has declined by almost 50 percent since June is absolutely catastrophic for the Russian economy.  And when you throw in international sanctions, wild money printing by the Central Bank of Russia and unprecedented capital flight, you get the ingredients for an almost perfect storm.  But those of us living in the western world should not be too smug about what is happening in Russia, because the nightmare that is unfolding over there is just a preview of the economic chaos that will soon envelop the whole world.

So far this year, the Russian ruble has fallen nearly 50 percent against the U.S. dollar.  That is a monumental shift.  And as the collapse of the ruble has accelerated in recent days, we are seeing scenes in Russia that are reminiscent of the Weimar Republic.  For example, just consider the following excerpt from an article that just appeared in the New York TimesContinue reading »

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Dec 17

RUB back teaser

- “Ruble Trading To Resume” (ZeroHedge, Dec 17, 2014):

As already noted, yesterday one after another FX broker scrambled to disconnected the Russian currency from the system due to “western banks stopping quoting pricing” and as a result of epic volatility (and as everyone knows, brokers prefer to only trade those pairs where they know with near certainty they can pick 1 pip or so from every trade which is why they prefer stability and orderly markets). However, in the aftermath of today’s announcement that the Russia finance ministry will join the central bank in selling reserves, the RUB has found a bid. And sure enough, here come the FX brokers barging back, advising that Ruble trading is set to resume this afternoon. Continue reading »

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Dec 16

- Western Banks Cut Off Liquidity To Russian Entities (ZeroHedge, Dec 16, 2014):

As Zero Hedge first reported today, shortly before noon one (and subsequently more) FX brokers advised clients that any existing Ruble positions would be forcibly closed out because “western banks have stopped pricing USDRUB“, over concerns of Russian capital controls. Ironically, it was this forced liquidation of mostly short RUB positions that pushed the RUB higher, which in turn had a briefly favorably impact on energy commodities and risk assets, as the market had by then perceived the Ruble selloff as excessive. Of course, since nothing had actually changed aside from a temporary market technical, the selloff promptly resumed into the close of trading once the market finally understood what we had explained hours previously.

And unfortunately for the bulls, various falling knife-catchers, and those who hope the Russian situation will stabilize imminently with or without capital controls, it appears things in Russia are about to get a whole lot worse because as the WSJ reports, the next driver of the Russian crisis is likely to come from within the banking system itself because global banks are curtailing the flow of cash to Russian entities, a response to the ruble’s sharpest selloff since the 1998 financial crisis.”

Presenting Russia’s banks: now cut off from the outside world as the second cold war goes nuclear, at least when it comes to the financial system:
Continue reading »

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Dec 16

- Ruble plummets losing more than 20% in a day, hitting new dollar and euro lows (RT, Dec 16, 2014):

No end seems to be in sight for the plight of the Russian ruble, which slumped to new record lows against hard currencies Tuesday. The EUR traded at 93.5 against the ruble, and the USD at 75.

The Russian stock market also went haywire, dropping more than 15 percent as of 2:30pm Moscow time, after it dropped 11 percent the day before. Sberbank, the country’s largest lender, lost 17.77 percent, and VTB, the second biggest bank, fell by 14.29 percent. State-owned oil and gas companies Gazprom, Rosneft, and Surgut also saw shares plummet.

The emergency interest rate hike to 17 percent has failed to halt the ruble’s landslide tumble against hard currencies. The rate increase only calmed the ruble temporarily. Continue reading »

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Dec 15

20141215_RUB1m

- Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17% (ZeroHedge, Dec 15, 2014):

Following the biggest rout to the Ruble in ages, Russia – unlike Mario Draghi – instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning) from the recently raised interest rate of 10.50% to… hold on to your hats… 17.00%, a 650 bps increase!

From the press release:

The Board of Directors of the Bank of Russia has decided to increase from December 16, 2014 the key rate to 17.00% per annum. This decision was driven by the need to limit significantly increased in recent devaluation and inflation risks. Continue reading »

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Dec 13

Take a ‘wild guess’ what his next incarnation will be! :-)


Too Big To Jail

- “What’s Up, You F—ing N—-r?” – What a Debt Collector Hired by Bank of America Said to a Customer (Liberty Blitzkrieg, Dec 13, 2014):

I can’t believe I missed this one. Although the following happened back in 2010, given how captured our entire society remains by the “too big to fail and jail” banks, it’s worth putting this in front of readers. Here’s the disturbing encounter. From ABC News:

Back in 2010, an ABC News investigation found that a Texas-based company Bank of America had contracted to make debt collection calls were using racist and obscene language to try to coax debts from customers.

“What’s up, you f—ing n—-r?” said one of the collection agents in a message to 32-year-old Allen Jones of Dallas, who at the time owed $81 on his Bank of America credit card.

“This is your f—ing wake up call, man,” the debt collector said in a message left at Jones’ home at 6:30 a.m. Then another call: “You little, lazy ass bitch, get your mother f—ing ass up and go pick some mother f—ing cotton fields, bitch.” Continue reading »

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Dec 13

change-we-can-believe-in

- Democrats Who Voted For The Cromnibus Received Double The Money From Wall Street Than “No” Voters (ZeroHedge, Dec 13, 2014):

It should come as no surprise that Republicans would be willing to vote for a bill that seeks to indemnify Wall Street from future failure. After all, Wall Street’s proximity to the GOP, and vice versa, is hardly a contentious issue. And yet, it was “only” 162 republicans who voted for the Cromnibus – some 67 voted against. Which means that whipping the 57 democrats who also voted for the Bill to get the crucial 218 passing votes was far more critical to assure passage of the swaps push out provision.  What exactly motivated those 57 Democrats to break ranks with the rest of their party – the 139 democrats voted against the spending bill – and to be not only on the receiving end of Elizabeth Warren’s ire, but also accountable for dumping a few hundred trillions of derivatives into the laps of US taxpayers. The answer, what else: money.

 

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Dec 12

What could possibly go wrong?

From the article:

“The only question is when the next multi-trillion (or perhaps quadrillion now that all global central banks are all in?) bailout takes place.”

The elitists will blow up the entire financial system and you better have water, food, gold, silver, guns, a remote farm, friends and a getaway plan.


- Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For (ZeroHedge, Dec 12, 2014):

Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street’s blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall:

Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:

Screen-Shot-2014-12-05-at-3.32.12-PM-1024x755

Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services.

We say explicitly, of course, because taxpayers have always been on the hook implicitly for the next Wall Street meltdown.

Why? Continue reading »

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Dec 12

$43.5 Million? Champagne for everybody!

elite-puppet-president-and-wall-street-banksters


- Ten major US banks fined $43.5mn over IPO scandal (RT, Dec 12, 2014):

The US Financial Industry Regulatory Authority (FINRA) has fined 10 major banks, including Goldman Sachs and Morgan Stanley, $43.5 million for letting analysts fake research on Toys “R” Us in return for investment banking deals.

FINRA, the largest independent regulator of securities firms doing business in the US, fined Barclays Capital, Citigroup Global Markets, Goldman Sachs among others “for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage”, says the report. Continue reading »

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Dec 10

- Why Is The US Treasury Quietly Ordering “Surival Kits” For US Bankers? (ZeroHedge, Dec 10, 2014):

The Department of Treasury is spending $200,000 on survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. As FreeBeacon reports, survival kits will be delivered to every major bank in the United States and includes a solar blanket, food bar, water-purification tablets, and dust mask (among other things). The question, obviously, is just what do they know that the rest of us don’t?

As Free Beacon reports,

The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation.

The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets. Continue reading »

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Dec 10

- RBS Abandons Japanese Bond Trading, Cuts 200 Jobs; Stocks, USDJPY, JGB Yields Are Re-Plunging (ZeroHedge, Dec 10, 2014):

The Nikkei 225 has fallen over 300 points from the v-shaped recovery close at the end of the US day session and is now trading below the lows of the day at 2-week lows. USDJPY has plunged over 100 pips having briefly neared 120.00, now back below 119.00. JGB Futures are trading near record highs prices as yields collapse to near-record lows (30Y -23bps since QQE, 20Y -15bps) only seen during last year’s yield-crash. No surprise then with the bond market “dead” according to market participants and yields negligible, that RBS has decided to exit the Japanese fixed-income business, slashing 200 jobs, and surrendering its primary bond dealership.

What an epic farce the largest bond market in the world has become…

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Dec 09

greece

- Greece Post Mortem: Worst Day Since 1987 Crash, Banks Destroyed, Bond Yields At Post-Bailout Highs

As the sun sets in Athens, we thought a moment of reflection was worthwhile. Greek stocks are now down 13% – the biggest single-day drop since (drum roll please) the crash of 1987… led by total carnage in Greek banks (down 15-25% on the day). Greek bond yields exploded, 3YR +183bps to a new post-bailout high at 8.32% (and inverted to 10Y).

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Dec 09

Banksters - Get Out Of Jail Free Card


- Citi Pays $3.5 Billion To Keep Its Employees Out Of Jail For Yet Another Quarter (ZeroHedge, Dec 9, 2014):

Alongside the just announced revenue warning, Citi’s CEO Corbat also announced yet another $2.7 billion in legal, related charges in 4Q, as well as another $800 million in repositioning expenses. This simply means that for yet another quarter Citi will be charged with billions in recurring, non-one time “one-time, non-recurring” charges which will be dutifully added back to non-GAAP EPS by analysts at all the other banks (whose criminal employers are now engaged in the same racket with the US government). But what it really means is that it cost Citi some $3.5 billion to keep its employees out of jail for yet another 3 months.

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Dec 09

custodians

- 55 Trillion Reasons Why Bank Of New York And State Street Better Not Get Any Ideas From China (ZeroHedge, Dec 9, 2014):

While everyone knows the direct consequence of China’s tinkering with collateral rules last night led to the biggest Chinese stock market crash in years, not many understand what caused this. In a nutshell, what China did was severely curb its shadow banking industry, when China’s securities clearing house said it raised the quality threshold for corporate bonds qualifying as collateral for repurchase agreements, or repos, which are short-term loans with maturities spanning from overnight to 182 days. And since the  proceeds of such repo deals are usually used to purchase stocks, suddenly a major source of “dry powder” for Chinese stock buying was violently and unexpectedly yanked away.

As those who are familiar with the US shadow banking industry are aware, this is precisely the very much unregulated lending pathway that froze up in the aftermath of the Lehman collapse, and which the Fed has been warning for years, is the most likely locus of the next financial crisis. Putting China’s action into numbers, Shenyin Wanguo Securities analyst Kang Chen calculated this collateral adjustment would disqualify some 1.25 trillion yuan (or $202 billion) in corporate bonds as repo collateral, or 60% of all outstanding corporate bonds listed on China’s two stock exchanges.

This may sound huge but it actually is quite tiny, especially if one looks at it in the context of the market cap loss on the Shanghai Composite overnight. What is far more curious is that China would proactively pursue the same kind of action that the US and all western banks are terrified of: clogging up a key shadow banking conduit in the form of well-functioning repos. Continue reading »

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Dec 08

- NIRP Arrives In The US: TBTF Banks Tell Customers To Move Their Cash Or Be Charged Fees (ZeroHedge, Dec 8, 2014):

Back in June, the world was speechless when Goldman’s head of the ECB, Mario Draghi, stunned the world when he took Bernanke’s ZIRP and raised him one better by announcing the ECB would send deposit rates into negative territory, in the process launching the Neutron bomb known as N(egative)IRP and pushing European monetary policy into the “twilight zone”, forcing savers to pay (!) for the privilege of keeping the product of their labor in the form of fiat currency instead of invested in a global ponzi scheme built on capital market so broken even the BIS can no longer contain its shocked amazement.

Well, the US economy may be “decoupling” (just as it did right before Lehman) and one pundit after another are once again (incorrectly) predicting that the Fed may raise rates, but when it comes to the true “value” of money, US banks have just shown that when it comes to spread between reality and the economic outlook, the schism has never been deeper.

Enter US NIRP.

As the WSJ reports, far from paying for the privilege of holding other people’s cash (and why would they with nearly $3 trillion in positive carry excess reserves sloshing around) US banks – primarily of the TBTF variety – “are urging some of their largest customers in the U.S. to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits.” Continue reading »

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