Feb 17

1bn online bank heist

- Remote ATM control: Kaspersky Lab details $1bn online bank heist (EXCLUSIVE) (RT, Feb 16, 2015):

Internet security company Kaspersky Lab says the banking industry could be experiencing “a new era in cybercrime.” The company has been investigating a $1 billion attack on financial institutions by a sophisticated hacking group.

The IT security firm says the hackers from the Carabanak group used a complex virus system which was later named after them. It is not like the simple Trojan horse malware used to by-pass security systems, but something much more complex and unique, according to documents exclusively seen by RT.

Russian cyber-security company Kaspersky Lab was invited to look into the matter, after an ATM in the Ukrainian capital Kiev started giving out cash randomly without anyone inserting a card or touching any buttons in late 2013. Continue reading »

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Feb 16

 

HSBC-megabank-cartel-drug-money-laundering

- HSBC Bank: Secret Origins To Laundering The World’s Drug Money (ZeroHedge, Feb 16, 2015):

HSBC Bank : Secret Origins To 26/11 Mumbai Attacks

#SwissLeaks what the media has termed it is a trove of secret documents from HSBC’s Swiss private banking arm that reveals names of account holders and their balances for the year 2006-07. They come from over 200 countries, the total balance over $100 billion. But nowhere has the HSBC Swiss list touched off a more raging political debate than in India.

That’s why to obtain and investigate the Indian names, The Indian Express partnered in a three-month-long global project with the Washington-based International Consortium of Investigative Journalists (ICIJ) and the Paris-based Le Monde newspaper. The investigation revealed 1,195 Indian HSBC clients, roughly double the 628 names that French authorities gave to the Government in 2011. The new revelation— published as part of a global agreement — is expected to significantly widen the scale and scope of the ongoing probe by the Special Investigation Team (SIT) appointed by the Supreme Court.

For years, when banks have been caught laundering drug money, they have claimed that they did not know, that they were but victims of sneaky drug dealers and a few corrupt employees. Nothing could be further from the truth. The truth is that a considerable portion of the global banking system is explicitly dedicated to handling the enormous volume of cash produced daily by dope traffickers. Continue reading »

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Feb 16

- “The World’s Most Sophisticated Cyber Attack” – How Hackers Infiltrated The Banks & Stole Millions (ZeroHedge, Feb 15, 2015):

Since late 2013, The NY Times reports that an unknown group of hackers has reportedly stolen $300 million ­- possibly as much as triple that amount – from banks across the world, with the majority of the victims in Russia. The attacks continue, all using roughly the same modus operandi

Hackers send email containing a malware program called Carbanak to hundreds of bank employees, hoping to infect a bank’s administrative computer. Continue reading »

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Feb 15

- The Only Question About The So-Called “Recovery” (ZeroHedge, Feb 15, 2015):

We were almost eager to swallow the blue pill and admit that the “recovery” is an actual recovery this time (non-GAAP that is, one where all the economic data is first excluded)… and then we happened to glance at this chart, courtesy of Citigroup’s Matt King.

central bank interventions

Ignoring for a second the direct implication of what the chart highlights, namely that due to central bank intervention there is no more net supply of debt left in the world, now that for the first time ever, central banks are set to monetize all global government debt, something we showed previously… Continue reading »

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Feb 13

From the article:

“In other words, the deposit outflows will continue until Greek government morale is crushed.”


varr8

- Dijsselbloem Says “Very Pessimistic” About A Deal On Monday As Greek Deposit Flight Hits €1 Billion Per Day (ZeroHedge, Feb 13, 2015):

The game of words continues, and following reports both yesterday and today that first Germany, and then Greece would compromise, and in the case of the latter even do “whatever it can” to reach a deal, it is time for Europe’s bad cop, Eurogroup President Jeroen Dijsselbloem, to pour cold water on the party and crush Greek enthusiasm even more when he said moments ago that he was “very pessimistic” about the chances that a meeting he will chair on Monday of euro zone finance ministers would reach a final debt deal with Greece. Continue reading »

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Feb 13

From the article:

“In other words, despite all the posturing, all the harsh words, all the rhetoric, money once again walks. And it is precisely the threat of the money walking away that appears to have ended the Tsipras goverment’s will to continue pushing hard on its hard-line stance, leading to a government that is now willing to do “whatever we can.”

Which is music to the ears of Merkel and the ECB, as the can appears to have been kicked at least until the next Greek election after which nothing much will change either.”


tsipras merkel

- Greece Willing To Do “Whatever It Can” To Reach Deal After Greek Liquidity Situation Deteriorates Rapidly (ZeroHedge, Feb 13, 2015):

Three days ago we observed that after surging in January, Greek deposits had slowed to a trickle in February, with just €1 billion in outflows, following the €12 billion redeemed in January. At least that was the case according to Reuters which cited a “senior banker who declined to be named.” The news appeared a little too good to be true, and as we suspected was merely an attempt at boosting “Greek leverage” ahead of the Euromeeting which ended in a spectacular, chaotic fashion, and no decision being made. Remember: the greater the bank outflows, the weaker the Greek negotiating stance when debating the Eurozone (whose leverage in turn is calculated by the level of the Eurostoxx 50). Continue reading »

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Feb 13

- Stealth Greek Bank Run Continues: ECB Hikes Emergency Lending To EUR 65 Billion (ZeroHedge, Feb 12, 2015):

It would appear the un-sourced rumors of Greek banks having used up their Emergency line of credit with the ECB are true. Following a hastily put together conference calls this morning:

  • *ECB RAISES GREECE ELA ALLOWANCE TO EU65BN: FAZ

Up from the previous EUR59.5 Billion. It appears the stealth bank run in Greece is showing no signs of slowing.

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Feb 13

- Sweden Central Joins The NIRP Club: Lowers Interest Rate To -0.1%, Launches QE (ZeroHedge, Feb 12, 2015):

“There are signs that underlying inflation has bottomed out, but the situation abroad is now more uncertain and this increases the risk that inflation will not rise sufficiently fast. The Executive Board of the Riksbank has therefore decided to cut the repo rate by 0.10 percentage points, to -0.10 per cent, and to adjust the repo-rate path down somewhat. At the same time, the interest rates on the fine-tuning transactions in the Riksbank’s operational framework for the implementation of monetary policy are being restored to the repo rate +/- 0.10 percentage point. Moreover, the Riksbank will buy government bonds for the sum of SEK 10 billion. These measures and the readiness to do more at short notice underline that the Riksbank’ is safeguarding the role of the inflation target as a nominal anchor for price setting and wage formation.”

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Feb 13


Feb 10, 2015

Description:

In this episode of the Keiser Report, Max Keiser and Stacy Herbert shout, “Je Suis Bill Black,” as free speech is not allowed if the conversation turns to banking crimes and financial system insolvency. In the second half, Max interviews Green party candidate for Vauxhall, Gulnar Hasnain. We discuss crowdfunding and cryptocurrency.

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Feb 13


Feb 7, 2015

Description:

In this Keiser Report, Max Keiser and Stacy Herbert warn Greece to beware bureaucrats and bankers bearing bailouts. In the second half, Max continues with the second part of his interview with Kerry-Anne Mendoza about her new best selling book, “Austerity: The demolition of the welfare state and the rise of the zombie economy.”

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Feb 13


Feb 5, 2015

Description:

Every week Max Keiser looks at all the scandal behind the financial news headlines.
In this episode of the Keiser Report back in London, Max Keiser and Stacy Herbert discuss negative savings rates on the way for retail savers in Europe because banks no longer need deposits nor do they need to make loans – in other words, they are no longer really banks. In the second half, Max interviews filmmaker, blogger and author, Kerry-anne Mendoza, about her new top selling book, “Austerity: The demolition of the welfare state and the rise of the zombie economy.”

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Feb 13


Feb 3, 2015

Description:

In this episode of the Keiser Report back in London, Max Keiser and Stacy Herbert discuss the Greek situation and that a nation is not what it thinks it is but what others attempt to hide about that nation – like the fact that it is bankrupt. They discuss the role Goldman Sachs played in helping Greece hide its debts and, thus, strapping it to the euro and the mispricing of real risk by well-compensated bond investors lending to Greece at ultra low interest rates. They also discuss that, while deflated footballs was the main headline on the nightly news in America, a memo was delivered to Obama outlining the various ways that brokers defraud American investors of years worth of retirement income.

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Feb 12

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Feb 12


Feb 28, 2014

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Feb 10

bank run

- How Fast Would Contagion Spread If Greece Exits The Eurozone (ZeroHedge, Feb 10, 2015):

Perhaps the most curious aspect of this, third, Greece “”exit crisis, is just how completely unnoticed it has gone by the capital “markets”, or rather non-Greek capital markets. Which, considering the changed dynamics of the negotiations, was to be expected. As explained again earlier, this time around it is imperative on the central planning regime to keep stocks and bonds as stable as possible heading into tomorrow’s negotiations with Greece, because should global risk not bat an eyelid, it will mean that Greek leverage is non-existent as the “market” (which courtesy of central banks no longer really exists) does not anticipate any contagion, and is why the S&P has actually been surging in the past week. Continue reading »

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Feb 10

Greek Bank Bonds & Stocks Crumble To Record Lows (ZeroHedge, Feb 9, 2015):

Just 3 short months ago, Greek bank bonds were trading near par and every over-leveraged, over-confident, over-full-of-propaganda hedge fund was buying them “for the yield” – well, S&P had upgraded Greece and implied ‘all-clear’. Today, Greek bank bonds are trading at 60% of face-value, having dead-cat-bounced last week before re-collapsing today. Greek bank stocks are also careening lower with most at record lows (below the lows reached during the peak of the crisis). The reason to focus on these instruments is that, while somewhat illiquid, they are the most sensitive to the day-to-day headlines and overall sentiment on Greece (and Grexit) as a pure reflection (redenomination risk aside) of trouble ahead

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Feb 09

Government Debt Net Issuance 2015

- Stunning Chart Of The Day: For The First Time Ever, Central Banks Will Monetize More Than 100% Of Global Sovereign Debt (ZeroHedge, Feb 9, 2015):

Over the past two years we explained how in a time of ubiquitous central bank debt monetization, the amount of global sovereign bonds available for purchase – when taking into account CB purchases – has been declining at an ever faster pace, leading to a collapse in liquidity (something the TBAC warned about in the summer of 2013, leading to the Fed’s taper and subsequent temporary halt of QE3), and – naturally – to soaring bond prices (and plunging yields). The latter has reached epic proportions recently, and resulted in $3.6 trillion in global government debt, 16% of total, that is now trading at negative yields.

But not even we had any idea just how bad it really would get. Continue reading »

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Feb 09

Another JPMorgan Banker Dies After Murder-Suicide: Chokes Wife, Stabs Himself To Death (ZeroHedge, Feb 9, 2015):

By now, there have been so many banker-related suicides that it has become a moot point of i) tracking them all or ii) trying to find a pattern. And yet, one name continues to stand out: JPMorgan. The bank which has been most prominent among the list of “suicided” bankers notched one more casualty over the weekend when “a JPMorgan Chase & Co. employee strangled and stabbed his wife to death before turning the knife on himself, according to police who are treating the couple’s death in Bergen County, New Jersey as a murder-suicide.”

Bloomberg reports the gruesome details according to which Michael A. Tabacchi, 27, and his wife, Iran Pars Tabacchi, 41, were found dead Friday about 11:30 p.m. in the bedroom of their Closter home after a 911 call placed by the husband’s father, Bergen County Prosecutor John Molinelli said in an interview. Closter is located in northern New Jersey, about 20 miles (32 kilometers) from midtown Manhattan.

Michael Tabacchi

It wasn’t a nail-gun this time. It was a knife:

Autopsy results on Sunday showed the wife died of strangulation and a stab wound to the chest while Michael Tabacchi died from a single self-inflicted stab to the chest, he said. Continue reading »

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Feb 09

Flashback:

Here Is What Happens After Greece Defaults (ZeroHedge, May 21, 2011):

What happens when Greece defaults. Here are a few things:

  • Every bank in Greece will instantly go insolvent.
  • The Greek government will nationalise every bank in Greece.
  • The Greek government will forbid withdrawals from Greek banks.

- Greek Euro Exit: 60% Currency Devaluation, Default, Banking Sector Collapse (Forbes, Sep. 06, 2011)

How can the Greek people protect themselves?

- Belarus Devalues Its Currency By 56% Overnight, Against Every Currency Out There (ZeroHedge, May 23, 2011):

Luckily for those who held their “money” in the form of gold and silver, they just got an instantaneous 56% value preservation and a relative boost in their purchasing power with just one central bank announcement.


grexit-3

- If Greece Exits, Here Is What Happens (Redux) (ZeroHedge, Feb 8, 2015):

Now that the possibility of a Greek exit from the euro is back to being topic #1 of discussion, just as it was back in the summer of 2012 and the fall of 2011, and investors are propagandized by groundless speculation posited by journalists who have never used excel in their lives and are merely paid mouthpieces of bigger bank interests, it is time to rewind to a step by step analysis of precisely what will happen in the moments before Greece announces the EMU exit, how the transition from pre- to post- occurs, and the aftermath of what said transition would entail, courtesy of one of the smarter minds out there at the time (before his transition to a more status quo supportive tone), Citi’s Willem Buiter, who pontificated precisely on this topic previously. Three words: “not unequivocally good.” Continue reading »

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Feb 09

FYI.


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