- Depositor In Failed Russian Bank Loses It, Takes Hostages, Demands $700,000 Ransom (ZeroHedge, April 20, 2014):
Earlier today, the Central Bank of Russia announced that starting April 21, it would revoke the license of Moscow’s Bank Zapadny. According to reports, “the bank had cooked its books and failed to comply with regulations on the amount of assets a financial organization must maintain to ensure its stability, the central bank said.” In other words, your typical FDIC Failure Friday only on Monday morning. Hardly notable. It is what happened next that was shocking. Shortly after the bank shutdown announcement, an armed man took three hostages at a Belgorod branch of precisely this failed Bank Zapadny.
Considering the bank is located in a Russian city in proximity to Ukraine some early speculation suggested the two may be related, however it appears
this may simply be the latest case of a disgruntled bank client taking matters into his own hands. As RT reports, “he may be a client of the bank wishing to withdraw his deposit despite the bank losing its license…..Life News tabloid says it has identified one of the attackers as 46-year-old Aleksandr Vdovin, a client who holds the bank’s promissory notes for a large sum, and who decided to reimburse them at gunpoint.”
Well, that’s one way of dealing with bail-ins…
RT reports more: Continue reading »
Tags: Banking, Crime, Economy, Global News, Society
Modern interpretation of Christ driving the money changers from the temple by Anthony Freda/Daniel Zollinger
- Why Jesus Was REALLY Killed: Challenging the Money Changers (Washington’s Blog, April 20, 2014):
Why Jesus Was Killed
Preface: If you are an atheist and believe that religion is crazy, please remember that some 85% of the American population identifies itself as Christian and millions more identify themselves as Jewish. Very few Americans are atheists … and the majority don’t trust atheists. Therefore, knowing a few bible verses might be helpful for atheists speaking to people of faith.
Reverend Howard Bess notes:
Continue reading »
Tags: Banking, Global News, Jesus, Religion, Society
- Barclays Latest To Exit Commodity Trading, Layoff Several Thousand Staff (ZeroHedge, April 20, 2014):
and Deutsche Bank
having exited the commodities business (and numerous other banks discussing it ahead of the Fed and regulators’ decisions over banking rules of ownership), it appears a few short months of regulatory scrutiny is enough to warrant more broad-based cuts across bulge-bracket banks historically most manipulated and profitable business units. As The FT reports
, Barclays, one of the world’s biggest commodities traders, is planning to exit large parts of its metals, agricultural and energy business
in a move expected to be announced this week. This comes on the heels of Barclays shuttering its power-trading operations (after refusing to pay $470mm in fines) with CEO Jenkins expected to announce several thousand layoffs
Continue reading »
Tags: Banking, Barclays, Commodities, Economy, Global News
- BNP Banker, His Wife And Nephew Murdered In Belgium (ZeroHedge, April 20, 2014):
In the beginning it was banker suicides. Then about two weeks ago, suicides were replaced by outright murders after the execution-style killing of the CEO of a bank in otherwise sleepy (and tax evasive) Lichtenstein by a disgruntled client. Then on Friday news hit of another execution-type murder in just as sleepy, if not so tax evasive, Belgium, where in the city of Vise, a 37-year-old Director at BNP Paribas Fortis was murdered alongside his wife and a 9 year old nephew in a premeditated and orchestrated drive-by shooting.
According to Marcel Neven, Mayor of Vise, nothing can yet explain what caused the violent shooting that rocked the neighborhood sports hall of his town this Friday, April 18, late at night. A man of 37 years, Benedict Philippens, bank manager Ans-Saint-Nicolas, was shot. A little 9 year old boy, living in Dolhain, was also killed. A lady, the wife of the man and the boy aunt and godmother, Carol Haid, 37 also died of his injuries on Saturday, in the morning. She was hit by three bullets in the back, said a judicial source.
According to information from the survey and some witnesses, a car waiting outside their house Berneau street near the sports hall Visé. When the victims’ car is back in the driveway, shots were fired from the car that waited patiently. The author of the shots is actively sought. Continue reading »
Tags: Assassination, Banking, Belgium, BNP Paribas, Crime, Economy, Global News
Despite complex trade rules against doing business with Iran, a corporate jet with a small American flag turned up in Tehran.
- Iran Gets an Unlikely Visitor, an American Plane, but No One Seems to Know Why (New York Times, Aprill 18, 2014):
President Obama has warned that Iran is not open for business, even as the United States has loosened some of its punishing economic sanctions as part of an interim nuclear pact.
Yet on Tuesday morning, Iran had an unlikely visitor: a plane, owned by the Bank of Utah, a community bank in Ogden that has 13 branches throughout the state. Bearing a small American flag on its tail, the aircraft was parked in a highly visible section of Mehrabad Airport in Tehran.
But from there, the story surrounding the plane, and why it was in Iran — where all but a few United States and European business activities are prohibited — grows more mysterious.
Continue reading »
Tags: Banking, Global News, Government, Iran, Obama administration, U.S.
Image by Terry Robinson
- Bankers are Behind the Wars (Washington’s Blog, April 18, 2014):
All Wars Are Bankers’ Wars
Former managing director of Goldman Sachs – and head of the international analytics group at Bear Stearns in London (Nomi Prins) - notes:
Throughout the century that I examined, which began with the Panic of 1907 … what I found by accessing the archives of each president is that through many events and periods, particular bankers were in constant communication [with the White House] — not just about financial and economic policy, and by extension trade policy, but also about aspects of World War I, or World War II, or the Cold War, in terms of the expansion that America was undergoing as a superpower in the world, politically, buoyed by the financial expansion of the banking community. Continue reading »
Tags: Banking, Economy, Global News, Government, Politics, War
- WTF Moment Of The Week: No One Bought Japanese Bonds For 36 Hours This Week (Dollar Collapse, April 17, 2014):
Here’s something you don’t see very often: For a day and a half this week, the Japanese government’s benchmark 10-year bonds attracted not a single successful private sector bid. At today’s artificially-depressed yields, no one wants this paper — except of course the Bank of Japan, which is buying up the bonds with newly-created yen. As the Gulf Times noted: Continue reading »
Tags: Banking, Economy, Global News, Japan
- HFT Purge Begins: SEC Prepares To “Remove” Some High Frequency Trading Firms (ZeroHedge, April 13, 2014):
Ever since Goldman’s anti-HFT Op-Ed less than a month ago, and since the even more recent full-hearted support by Goldman of Michael Lewis’ most recent entry into the anti-HFT crusade (one promoting the Goldman-supported IEX exchange), one thing has been clear: the days of market structure in its current format are numbered. This was further confirmed after Goldman exited both its legacy Spear Leeds & Kellogg designated market making post at the NYSE, and is said to be winding down its market-dominating dark pool, Sigma X.
It also means that our 5 year crusade against HFT – not because we want it replaced with a different, Goldman-backed exchange but because HFTs inherently destabilize the market (see May 2010 and the now daily flash crash in individual stocks and/or exchanges) – and specifically those most profitable but also most parasitic and predatory HFT strategies… Continue reading »
Tags: Banking, Economy, Global News, Government, High Frequency Trading, Politics, SEC, Stock Market
- 31-Year-Old Hedge Fund Trader Made More Than The CEOs Of The Six Biggest Banks Combined (ZeroHedge, April 13, 2014):
Over the weekend, there has been some consternation over the report that the CEOs of the 6 largest US banks: JPM, BAC, GS, MS, C and WFC, collectively made $96.1 million in 2013, more than $86.3 million the year before and the most since the financial crisis.
However, we are confident those same people would have an aneurism if they were to learn that James “Jimmy” Levin, a 31-year-old hedge fund trader – head of global credit and an executive managing director at Och-Ziff – last year made a whopping $119 million, or more than all of the CEOs of the six largest firms combined.
Continue reading »
Tags: Banking, Environment, Global News
Reader squodgy reminded me of the following video.
I have posted this video two times before and both uploads have been removed from YouTube.
For those that still haven’t seen this video yet:
This is a MUST-SEE!
A simple animated explanation of HOW the private Federal Reserve steals your money and WHY it must be stopped
Subtitles now available;
The AMERICAN DREAM is a 30 minute animated film that shows you how you’ve been scammed by the most basic elements of our government system. All of us Americans strive for the American Dream, and this film shows you why your dream is getting farther and farther away. Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? Do you really know what the Federal Reserve System is and how it affects you every single day? THE AMERICAN DREAM takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in America today. You will be challenged to investigate some very entrenched and powerful institutions in this nation, and hopefully encouraged to help get our nation back on track.
Tags: Banking, Economy, Fed, Federal Reserve, Global News, Government, Politics, Rothschild, Society, U.S.
From the article:
“In retrospect we can understand why the inventor of the Credit Default Swap would only dare go out in public with a couple of armed gorillas covering her back.”
- JPMorgan Employee Who Invented Credit Default Swaps is One of the Key Architects of Carbon Derivatives, Which Would Be at the Very CENTER of Cap and Trade
- Blythe Masters Under Investigation By Federal Prosecutors (ZeroHedge, April 10, 2014):
There is much new info in the just released Bloomberg profile on the infamous ex-JPMorganite Blythe Masters, among which the disclosure that she had made it clear that she had wanted to go along with the disposable JPM physical commodities unit (which as was reported recently, was sold to Swiss commodities giant Mercuria) and “and continue as the group’s chief”, a plan which did not work out as she had planned since she has no plans to “join the unit’s purchaser” (although joining Glencore is another matter entirely, and one which looks increasingly plausible) but what we find most striking is the following revelation: “Masters is under investigation by federal prosecutors in Manhattan, according to two people with knowledge of the matter. That probe was opened following a settlement with regulators that alleged JPMorgan manipulated power markets in the Midwest and California.”
This is somewhat ironic because it was none other than Zero Hedge which asked nearly a year ago if “JPMorgan’s “Enron” Will Be The End Of Blythe Masters?” Suddenly, the answer appears to be yes.
More from Bloomberg:
Continue reading »
Tags: Banking, Blythe Masters, Economy, Global News, JPMorgan
- 40 Central Banks Are Betting This Will Be The Next Reserve Currency (ZeroHedge, April 8, 2014):
As we have discussed numerous times, nothing lasts forever – especially reserve currencies – no matter how much one hopes that the status-quo remains so, in the end the exuberant previlege is extorted just one too many times. Headline after headlines shows nations declaring ‘interest’ or direct discussions in diversifying away from the US dollar… and as SCMP reports, Standard Chartered notes that at least 40 central banks have invested in the Yuan and several more are preparing to do so. The trend is occurring across both emerging markets and developed nation central banks diversifiying into ‘other currencies’ and “a great number of central banks are in the process of adding yuan to their portfolios.” Perhaps most ominously, for king dollar, is the former-IMF manager’s warning that “The Yuan may become a de facto reserve currency before it is fully convertible.”
The infamous chart that shows nothing lasts forever…
Nothing lasts forever… (especially in light of China’s recent comments)
As The South China Morning Post reports, Jukka Pihlman, Standard Chartered’s Singapore-based global head of central banks and sovereign wealth funds (who formerly worked at the International Monetary Fund advising central banks on asset-management issues), notes that:
At least 40 central banks have invested in the yuan and several others are preparing to do so, putting the mainland currency on the path to reserve status even before full convertibility
The US dollar remains in charge (for now)…but Continue reading »
Tags: Banking, China, Collapse, Dollar, Economy, Global News, Yuan
- Retiring SEC Lawyer Crucifies His Employer: “It’s A Cancer” Working On Behalf Of The “Bankster Turnpike” (ZeroHedge, April 8, 2014):
We wonder: why does the truth about the broken system, as witnessed and experienced by individual employees, always wait until said employee is about to depart their employer or just after? Obviously that is rhetorical. However, it is worth mentioning, because in the latest such revelation, a retiring SEC trail attorney veteran, James Kidney, who had been with the agency since 1986 and retired this month, just crucified his now former employer for doing precisely all those thing that outside critics – notably Zero Hedge – have accused the most co-opted, clueless, corrupt and criminal regulators of doing. Only he said it in a way that not even we could have phrased.
The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,” Kidney said, according to a copy of his remarks obtained by Bloomberg News. “On the rare occasions when enforcement does go to the penthouse, good manners are paramount. Tough enforcement, risky enforcement, is subject to extensive negotiation and weakening.”
Kidney said his superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties, Kidney said, have become “at most a tollbooth on the bankster turnpike.”
Wow: another “erudite” former cog in the systemic wheel goes off the reservation and gets all tinfoil bloggy on us. He goes on: Continue reading »
Tags: Banking, Economy, Global News, Government, Politics, SEC, U.S.
The headquarters of Bank Frick & Co. AG stands in Balzers near Vaduz, Liechtenstein
- Murdered Liechtenstein Bank Chief Had Sued Suspect for Extortion (Bloomberg, April 8, 2014):
The murdered chief executive officer of Bank Frick & Co. AG had sued his alleged killer for extortion three years ago, according to the Liechtenstein private bank.
Juergen Frick, 48, was shot yesterday in the firm’s underground garage in the town of Balzers. The suspect, Juergen Hermann, fled the scene and appears to have later committed suicide, according to a police statement.
Continue reading »
Tags: Banking, Crime, Global News, Juergen Frick, Liechtenstein
- The Father Of High Speed Trading Speaks: “The Market We Created Is A Casino; A Complete Mess; A Rigged Game” (Zerohedge, April 7, 2014):
While simplistic economist hacks and conflicted industry practitioners who stand to lose their entire revenue stream should HFT be liquidated, not to mention pagreview trolling journos, are suddenly not only experts in HFT, but are convinced allegations that high frequency trading rigs markets are blown out of proportion, here is what one of the actual pioneers of, and erstwhile legends in, computerized trading – the billionaire founder of Timber Hill and Interactive Brokers Thomas Peterffy – the man NPR dubbed the “father of high-speed trading” has to say.
The following excerpt is courtesy of Scott Patterson’s book Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market, which largely covers the same subject matter as Michael Lewis (and well before), and which has been profiled here previously. Continue reading »
Tags: Banking, Economy, Global News, High Frequency Trading, Thomas Peterffy
- Ex-ABN Amro CEO Killed Family Before Hanging Himself (ZeroHedge, April 7, 2014):
Sadly, as suspected – and in line with his CFO in 2009 – the reported death of Jan Peter Schmittmann was indeed suicide. The ex-CEO of ABN Amro hanged himself, but only after murdering his wife, Nally, and 22 year-ol daughter Babette. As Bloomberg reports, a farewell letter was found in the house, but authorities declined further comment on its contents. Schmittmann’s family was cited as saying in the statement that “we knew Jan Peter struggled with severe depression,” and added that their “first concern now is supporting the remaining daughter in coping with this indescribable grief.” Aweful…
As Bloomberg reports,
De Telegraaf reported today that Schmittmann hanged himself, citing two people it didn’t identify.
Bloomberg explains Schmittmann’s history:
Schmittmann joined ABN Amro Holding NV, once among Europe’s biggest banks, in 1983 as an assistant relationship manager and was named head of the lender’s Dutch unit in 2003. As a member of the bank’s executive board, he was responsible for restructuring it along the lines agreed by Royal Bank of Scotland Group Plc, Fortis and Banco Santander SA in their three-way takeover of the lender in 2007.
A year after the biggest financial-services takeover in history, the credit crunch drove Fortis to the verge of collapse, forcing the Netherlands to take over its Dutch banking and insurance units, including assets of the former ABN Amro in 2008. The Dutch asked Gerrit Zalm to lead the company now called ABN Amro Group NV.
Continue reading »
Tags: ABN Amro, Banking, Economy, Fortis, Global News, Jan Peter Schmittmann, JPMorgan
- CEO Of Liechtenstein Bank Frick Murdered In Broad Daylight (ZeroHedge, April 7, 2014):
Over the weekend the world was gripped by the drama surrounding the mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and all too quiet Principality of Lichtenstein, where moments ago the CEO of local financial institution Bank Frick & Co. AG, Juergen Frick, was shot dead in the underground garage of the bank located in the city of Balzers.
View Larger Map
Based on preliminary reports, the murder is the result of a disgruntled fund manager, Juergen Germann, who had previously been embroiled in a “bitter dispute” with the government and the bank.
Bloomberg has more:
A 48-year-old man was shot dead in the underground garage of a financial institution in Balzers at 7:30 a.m. local time, the principality’s police said on its website. The suspect, Juergen Hermann, fled the scene in a Smart car with Liechtenstein number plates, according to police. Neither the victim nor the institution were identified in the statement.
The deceased was Juergen Frick, CEO of Bank Frick & Co. AG, Switzerland’s Radio 1 said in an e-mailed statement, citing employees of the bank. Calls to Bank Frick were answered by a voice-mail message saying the company is closed because of “a death.” It gave no further details.
Continue reading »
Tags: Banking, Economy, EU, Europe, Global News, Juergen Frick, Jürgen Frick, Liechtenstein
- All The Presidents’ Bankers: The Hidden Alliances That Drive American Power (ZeroHedge, April 5, 2014):
The following is an excerpt from ALL THE PRESIDENTS’ BANKERS: The Hidden Alliances that Drive American Power by Nomi Prins (on sale April 8, 2014). Reprinted with permission from Nation Books. Nomi Prins is a former managing director at Goldman Sachs.
NIXON’S BANKERS: When What Was Good for Wall Street Was Good for the President
Wall Street’s War
While the protests against the Vietnam War intensified in the first years of the Nixon administration, the financial elite was fighting its own war—over the future of banking and against Glass-Steagall regulations. National City Bank chairman Walter Wriston was a steadfast warrior in related battles, as he fought with Chase chairman David Rockefeller for supremacy over the US banker community and for dominance over global finance.
Rockefeller’s sights were set on a grander prize, one with worldwide implications: ending the financial cold war. He made his mark in that regard by opening the first US bank in Moscow since the 1920s, and the first in Beijing since the 1949 revolution.
Continue reading »
Tags: Bank of America, Banking, Economy, Fed, Federal Reserve, Global News, Goldman Sachs, Government, Henry Kissinger, Merrill Lynch, Politics, Rockefeller, U.S.
- European Central Bank “models” €1 trillion in money printing (ZeroHedge, April 4, 2014):
Update: in direct flashback from the summer of 2011 when the ECB leaked news only to retract it within minutes, this just happened:
- CONSTANCIO: DOESN’T KNOW ABOUT 1 TLN-EURO QE MODEL REPORT
For those who have forgotten, here is the ECB playbook: leak “false” rumor, gauge market reaction, then promptly deny said rumor knowing quite well how the market will respond when the real news hits. Rinse repeat.
* * *
When in desperate need to crush your currency (being bought hand over fist by the Chinese), so urgently need to boost German exports, since you are unable to actually do QE as per your charter, what do you do if you are Mario Draghi? Well, you leak, leak, leak that you are contemplating QE, and then you leak some more. Such as today.
From Bloomberg: Continue reading »
Tags: Banking, ECB, Economy, EU, Europe, Global News, Quantitative Easing
And yes, they do want your retirement money:
- 12 Largest Banks Sued By Public Retirement Funds For “Conspiring To Rig Global FX Markets” (ZeroHedge, April 1, 2014):
Yesterday, we read with some amusement that Goldman has moved Guy Saidenberg, reportedly one of the greater profit centers at the firm – and how could he not be when he always traded against Tom Stolper’s recommendations which led to tens of thousands of pips in losses to those who listened to him over the past five years – from head of global foreign-exchange trading to a new role, as co-head of commodities. Why did Goldman decide to scrap its once uber-profitable FX vertical and redo it from scratch? Simple – the ability to rig and manipulate FX markets, which are now under every global regulator’s microscope after the “Cartel” members so foolishly let themselves be exposed to the entire world, is no longer there, as confirmed last night by news that a dozen large investors have filed a joint lawsuit against 12 banks for “allegedly conspiring to rig global foreign-exchange prices.” Allegedly? Hasn’t everyone read the Cartel chatroom transcripts yet?
The class-action lawsuit, filed in U.S. District Court in the Southern District of New York late Monday, was from a group of investors across the U.S. and Caribbean, including city and state pension plans.
Continue reading »
Tags: Banking, Economy, Global News, Pension, Retirement
- How To End TBTF? Do What Vietnam Does: Sentence Bankers To Death By Firing Squad (Zerohedge, April 4, 2014):
For the past five years, one of the most theatrical topics of superficially deep debate by both regulators and legislators has been a simple one: how to end the abuse of power and relentless gambling with zero fear of consequences by systemically important, Too Big To Fail banks, which led to the unprecedented 2008 spectacle of Goldman’s Treasury Secretary Hank Paulson demanding that Congress give him a blank check to bail out anyone and anything (mostly his former employers) he deems fit.
Continue reading »
Tags: Banking, Economy, Global News, Government, Politics, Vietnam
- The Importance Of Owning Your Own Bullion And Storing It Outside The Banking System
- States Seize Citizens’ Safe Deposit Boxes To Balance Their Budgets (ABC News Video)
- US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SEIZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!
- James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System
- Roosevelt Gold Confiscation In 1933: ‘No American Could Visit A Safe Deposit Box For Some Time Without A Government Agent Accompanying Him’
Original article in German down below.
- EU wants to deposit crack (MMNews, March 31, 2014):
Secret paper: Brussels plans this summer to allow EU-wide open all the boxes by force. . Reason: In addition to cash tax evasion investigators also search for precious metals – EU Finance Commissioner. “He who has nothing to hide, you need fear nothing.” Green: “An important step toward tax fairness and social justice.”
Holders of safe deposit boxes in banks threatens Affliction. According to a secret document Brussels wants to still be in this year Open all lockers EU-wide force. Preparations are already in full swing. By the summer of the action should be carried out with the name “lockbox2014″. Background: The EU Commission suspected there billions in black money and other valuables that were probably acquired illegally. In addition to cash it have apart on precious metals like gold and silver to the authorities.
Continue reading »
Tags: Banking, Economy, EU, Europe, Global News, Gold, Government, New World Order, Politics, Silver, Society
- BATS Admits CEO Lied About HFT On CNBC (ZeroHedge, April 4, 2014):
It is now quite clear why BATS CEO Bill O’Brien was so agitated during the Tuesday’s screamfest on CNBC. As The Wall Street Journal’s Scott Patterson reports, under pressure from the NYAG, BATS has hurriedly issued a statement correcting the CEO’s false comments during the exchange with IEX’s Brad Katsuyama. After Katsuyama said “you wanna do this, let’s do this” clearly giving him an out, O’Brien stated that BATS priced its trades off ‘high-speed’ data feeds when in fact they price their trades off a much slower feed (and therefore ‘enable’ the exact HFT-front-running that is in question).
Here is the clip in particular where O’Brien lies following Katsuyama’s question… that BATS uses the high-speed feed to price its trades…
The exchange in question…
“What do you use to price trades in your matching engine on Direct Edge?” Mr. Katsuyama asked Mr. O’Brien.
“We use the direct feeds,” Mr. O’Brien said.
Mr. Katsuyama, whose IEX dark pool markets itself as a haven for investors against high-speed traders, later brought up the issue again. “You use the SIP to price trades on Direct Edge,” he said.
“That is not true,” Mr. O’Brien said.
But as The Wall Street Journal reports, it was true
Continue reading »
Tags: Banking, Economy, Global News, High Frequency Trading
- Suicide Banker’s Widow Blasts Alleged “Cover-Up”, Asks “Unbecoming Questions” (ZeroHedge, April 3, 2014):
Having changed her Facebook profile picture to a “V…for Vendetta” face mask, the widow of former Zurich Insurance CFO Pierre Wauthier said she and her family cannot accept Zurich’s claim that his death wasn’t brought on by undue stress. As Bloomberg reports, Switzerland’s biggest insurer said in November that no “undue pressure” was put on Wauthier, who said in a suicide note that then-Chairman Josef Ackermann had created an unbearable working environment. But, his wife is demanding to know why her husband’s former boss resigned if he had not accepted blame for the death, and why details of tensions at work were not made public. Her anger is clear, as she blasted “I am not worth talking to… or is it that I would raise unbecoming questions????”
Continue reading »
Tags: Banking, Economy, Josef Ackermann, Pierre Wauthier
- Putin 1 – Dimon 0: JPMorgan Unhalts Russian Money Transfer (ZeroHedge, April 3, 2014):
Yesterday when we reported that a “Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan“, in which we explained that unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious, we said that “we certainly can not be the only ones looking forward to the epic battle prospect that is Vlad “Shootin” Putin vs JP “Fail Whale” Morgan.” Alas the title fight lasted for just about a day, and was won, with a technical knock out in the first round, by none other than the former KGB spy who can now add the whale which manipulates all markets to its trophy case which includes about 100 statues of a crushed and beaten John Kerry.
Because after shocking the world with its unilateral decision to halt Russian money transfers without a direct order from the administration, Reuters reports that JPM has folded and will process said payment from Russia’s embassy in Kazakhstan to insurance agency Sogaz, easing tension after Moscow accused the U.S. bank of illegally blocking the transaction under the pretext of sanctions.
In other words, Putin 1 – Jamie Dimon 0.
More from Reuters:
Continue reading »
Tags: Banking, Economy, Global News, Government, JPMorgan, Politics, Russia, Vladimir Putin
- Furious Russia Will Retaliate Over “Illegal And Absurd” Payment Block By “Hostile” JPMorgan (ZeroHedge, April 2, 2014):
While everyone was gushing over the spectacle on TV of a pro-HFT guy and anti-HFT guy go at it, yesterday afternoon we reported what was by far the most important news of the day, one which was lost on virtually everyone if only until this morning, when we reported that “Monetary Blockade Of Russia Begins: JPMorgan Blocks Russian Money Transfer “Under Pretext” Of Sanctions.” This morning the story has finally blown up to front page status, which it deserves, where it currently graces the FT with “Russian threat to retaliate over JPMorgan block.” And unlike previous responses to Russian sanctions by the West, which were largely taken as a joke by the Russian establishment, this time Russia is furious: according to Bloomberg, the Russian foreign ministry described the JPM decision as “illegal and absurd.” And as Ukraine found out last month, you don’t want Russia angry.
The biggest U.S. bank thwarted a remittance from the Russian embassy in Astana, Kazakhstan, to Sogaz Insurance Group “under the pretext of anti-Russian sanctions imposed by the United States,” the ministry said yesterday in a statement on its website. Sogaz lists OAO Bank Rossiya, a St. Petersburg-based lender facing U.S. sanctions over the Ukrainian crisis, as a strategic partner on its website.
Interfering with the transaction was an “absolutely unacceptable, illegal and absurd decision,” Alexander Lukashevich, a ministry spokesman, said in the statement.
Continue reading »
Tags: Banking, Barack Obama, Economy, Global News, Government, JPMorgan, Obama administration, Politics, Russia, U.S.
- Jon Stewart On HFT: “It’s Not American; It’s Not Even Capitalism. It’s Cheating” (ZeroHedge, April 2, 2014):
Jon Stewart is stunned by the world of HFT (where “stock exchanges sell the right to advance information to high frequency traders [by locating their computers closest to the exchange]“) and the mainstream media’s immediate jump to defend it “as good for us”, but as Michael Lewis explains “anyone whose livelihood is dependent on Wall Street [from CNBC, FOX and even the SEC] is invested in this… it sounds like a conspiracy.”
In this excellent interview, The Daily Show doubter asks “we have set a standard for share buying (you can’t but 1/100th of a share) so why not set a standard for frequency of trading?” Lewis stoic response sums up our world perfectly, “in a sane world, we would… but the money is too big,” and adds that indeed that is what IEX is doing. The HFTs “function on volume and volatility” alone and “they know the prices before you do… which is illegal if it’s a person, but as a computer, meh?” Continue reading »
Tags: Banking, Economy, Global News, Jon Stewart, Stock Market, Wall Street
- Russian Retaliation #1: Russia Largest Bank Halts Foreign Currency Loans (ZeroHedge, April 2, 2014):
It didn’t take long for Russia to launch the first retaliatory salvo against the unexpected JPMorgan “act of aggression.” Moments ago Bloomberg just reported that Sberbank, the largest bank in Russia and all of Eastern Europe, just halted the issuance of consumer loans in foreign currency. Bloomberg adds that “Sberbank, Russia’s biggest lender, holds 43.3% of nation’s consumer deposits, 32.7% of consumer loans and 32.1% of corporate loans.”
Why is this important? Well, it is possible that the biggest Russian bank is running low on foreign reserves with which to issue non-ruble loans, which is rather unlikely for a bank which is defacto part of the Russian financial system. Still, it would be problematic if Russia is indeed telegraphing its commodity-export driven economy is suddenly low on Dollars and/or Europe’s artificial, life-supported currency.
Continue reading »
Tags: Banking, Economy, Global News, Government, JPMorgan, Society, U.S.
Added: Apr 21, 2013
9/11 Conspiracy Solved: Watch this documentary and look for the evidence and then make up your own mind whether or not 9/11 was an inside job.
Special thanks to Michael C. Ruppert, Mark H. Gaffney, and Kevin Ryan for their amazing research, as they tried to solve the crimes of 9/11. This video is a compilation of evidence they have uncovered.
Tags: 9/11, AIG, Banking, Bush administration, CFR, CIA, Council on Foreign Relations, Dick Cheney, Documentary, Economy, False flag, FBI, George Bush, Global News, Government, Inside job, Pentagon, Politics, Terrorism, Terrorists, U.S., WTC
Prepare for collapse.
- High Frequency Trading: Why Now And What Happens Next (ZeroHedge, March 31, 2014):
For all the talk about how High Frequency Trading has rigged markets, most seem to be ignoring the two most obvious questions: why now and what happens next?
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Tags: Banking, Collapse, Economy, Fed, Federal Reserve, Global News, Goldman Sachs, High Frequency Trading, U.S.