Mar 30

- Office Of Outgoing JPMorgan Asia CEO Raided By Hong Kong’s Commission Against Corruption (ZeroHedge, March 29, 2014):

It just hasn’t been JPMorgan’s year. Or several years for that matter. The bank which has been on a steady downward slope when it comes to paying billions in quarterly “non-recurring, one-time” legal settlements and charges, and for which engaging in criminal behavior which is neither admitted nor denied, yet which has cost JPM nearly $30 billion in the past several years, has just had its latest “wristslapping” incident, one which involves none other than the recently departed CEO of JPM Asia, Fang Fang, whose office was raided on March 26 by Hong Kong’s anti-corruption agency amid a U.S. investigation into the bank’s hiring practices as reported by Bloomberg.

fang fang

From Bloomberg:

The Independent Commission Against Corruption seized computer records and documents after searching the office of Fang Fang, the company’s outgoing chief executive officer for China investment banking, said the people, who asked not to be identified because the investigation is confidential.

Continue reading »

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Mar 30

Related info:

- DNA Results For The Famous Paracas Skulls In Peru Are In And The Results Are Absolutely Shocking

- DNA Analysis Of Paracas Elongated Skulls Released. The Results Prove They Were Not Human

Flashback:

- World Bank Whistleblower Karen Hudes: The Real Powers Behind President Barack Obama

- World Bank Whistleblower Reveals How The Global Elite Rule The World (Video):

Karen Hudes: We’re Running Out of Time! We’re Dealing with Whether We Can Continue as Humanity

- Former Governor Jesse Ventura – Secret Underground Base at Denver Airport

- Deep Underground Military Bases (D.U.M.B.S.) – US Has Been Building Large Scale Underground Cities:

According to former government engineer Phil Schneider, at least 129 of these underground cities have been built over the last 50 to 60 years.

In this video Mr. Schneider describes construction of the deep underground military bases which are located across the United States. He also recounts how he was one of only three people to survive the 1979 shootout between subterranean aliens and U.S. military and intelligence forces at the deep underground military base in Dulce, NM.

This May 1995 lecture is one of only a few given by Mr. Schneider before his untimely death. Openly acknowledging that the dissemination of this information constituted both a breach of his security oaths and a major violation of federal law, he speculated as to how long he might be allowed to continue speaking out in this manner.

The unfortunate answer to his speculation came seven months after the taping of this video. Phil Schneider was found dead in his apartment with piano wire still wrapped around his neck in January of 1996. Some sources report that he had been brutally tortured before being killed.


- Shocking! Former World Banker Says “Second Species” Controls Earth (Before It’s News, March 29, 2014):

World Bank Whistleblower Karen Hudes-1

“The group that’s behind the network of control, one of these groups are hominids, they’re not human beings. They are very smart, they are not creative, they are mathematical. They had a much stronger force in the earlier ice-age. They have elongated skulls, they may produce offspring in mating with female humans, but that offspring is not fertile. We live in a world of secret societies, and secrets, and the information that ought to be public is not public.”

These are some of the shocking statements that came from Karen Hudes shortly after gaining attention for being a credible world bank whistleblower, stating that the world is in a “currency war,” that the Federal Reserve continues to print money and if they keep going at the pace they are on, other countries will no longer accept this currency.Much of what she has to say corroborates with ancient historical and archeological evidence, as well as modern day disclosures of other strange phenomenon, like UFOs, secret societies and more. For someone like this to gain credibility as a World Bank whistle-blower and then all of a sudden make a comment like this is quite shocking.

There is an enormous amount of growing evidence out there to suggest we are not alone, and that we have indeed been visited.  In the above interview with Red Ice Radio, Karen goes on to say:

Continue reading »

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Mar 29

- THE U.S. IS LIKE A SHIP WITH NO LIFEBOATS (The Burning Platform, March 29, 2014):

Excellent article from Hugo Salinas Price

about the debased dollar, gold and the suicidal bankers who will destroy the world.

The Dollar Cannot Be Devalued and Suicidal Bankers

Hugo Salinas Price

“If the U.S. inflates and devalues the dollar, gold will go much higher in price”  Jim Rickards. (See here).

The last dollar devaluation took place under President Roosevelt in 1934, when from being worth 1/20.67th of an ounce of gold in 1933, the dollar was devalued to 1/35th of an ounce of gold.

Continue reading »

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Mar 29

- “Nail Gun Suicide” Banker’s Firm Probed Over Missing Millions (ZeroHedge, March 29, 2014):

Just a few short weeks ago we reported on the unusual suicide, due to self-inflicted nail-gun wounds, of Richard Talley, CEO of Denver-based American Title Services. The death of the 57-year-old banker was accompanied by the fact that his firm was under investigation by the insurance regulators, and now, as The Denver Post reports, state prosecutors launched a criminal investigation and a grand jury over more than $2 million missing from escrow accounts. As part of that inquiry, investigators have seized about 100 boxes of documents and about 60 computers as records suggest the seemingly successful title business had serious financial problems. Talley’s wife, Cheryl, who owns the other 60% of the firm has not commented. Continue reading »

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Mar 28

JPMorgans-European-Headquarters-at-25-Bank-Street-in-the-Canary-Wharf-Section-of-London

- Document: JPMorgan Chase Bets $10.4 Billion on the Early Death of Workers (Wall Stret On Parade, March 24, 2014)

Families of young JPMorgan Chase workers who have experienced tragic deaths over the past four months, have been kept in the dark on many details, including the fact that the bank most likely held a life insurance policy on their loved one – payable to itself. Banks in the U.S., as well as other corporations, are allowed to make multi-billion dollar wagers that their profits from life insurance policies on employees will outstrip the cost of paying premiums and other fees. Early deaths help those wagers pay off.

According to the December 31, 2013 financial filing known as the Call Report that JPMorgan made with Federal regulators, it has tied up $10.4 billion in illiquid, long term bets on the death of a large segment of its employees.

Continue reading »

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Mar 27

Greece-01

- Greek Supreme Court Rules “Bank Deposit Confiscation” Against The Constitution (ZeroHedge, March 27, 2014):

While we are sure the governments and their IMF handlers will find a way around such annoyances as the rule of law, the Greek Supreme Court just ruled that the seizure of bank deposits due to debts to the state without previous notice was against the Constitution. We humbly suggest the Ukrainian courts be rapidly brought to a decision on the same ruling, before IMF hands start dipping into pockets.

As Keep Talking Greece explains,

Greece’s Supreme Court ruled that the seizure of bank deposits due to debts to the state without previous notice was against the Constitution. The judges had taken up a debtor’s complaint filed in 2006. The debtor had seen his pension being grabbed from his bank account due to debts to the tax office.

Continue reading »

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Mar 26

Deutsche-Bank-0

- Deutsche Bank-er Explains Why He Committed Suicide (ZeroHedge, March 25, 2014):

The dismal list of financial executive deaths has recently increased to 11 in the last few months. Speculation has surrounded many of these deaths (and suicides) as to the reasoning; none more than the first – William Broeksmit, an executive who worked in Deutsche Bank’s risk function and advised senior leadership who hanged himself in his South Kensington home in late January. However, as the WSJ reports, we now know why this poor man felt compelled to take his own life: he was “anxious about various authorities investigating areas of the bank where he worked” (and yes, we are well aware of the grammatical and temporal impossibilities suggested by this article’s title). Continue reading »

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Mar 26

Lloyds-TSB

- Lloyds caught in new PPI storm: Taxpayer-backed bank saved tens of millions of pounds by wrongly cutting compensation to it’s customers (Independent; March 24, 2014):

One of Britain’s biggest banks has cost victims of the payment protection insurance (PPI) scandal tens of millions of pounds by wrongly cutting their compensation awards, a new investigation claims.

Lloyds Banking Group, which is 33 per cent owned by the taxpayer after a £20bn bailout, has been unilaterally reducing payouts to people who were mis-sold the notorious policies. The bank’s behaviour has been described by one expert as “a scandal coming out of a scandal”.

Continue reading »

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Mar 25

People gather in front of a branch of Jiangsu Sheyang Rural Commercial Bank, in Yancheng

- Hundreds rush to rural Chinese banks after solvency rumors (Reuters, March 25, 2014):

Hundreds of people rushed on Tuesday to withdraw money from branches of two small Chinese banks after rumors spread about solvency at one of them, reflecting growing anxiety among investors as regulators signal greater tolerance for credit defaults.

The case highlights the urgency of plans to put in place a deposit insurance system to protect investors against bank insolvency, as Chinese grow increasingly nervous about the impact of slowing economic growth on financial institutions.

Continue reading »

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Mar 23

- Russia Returns Favor, Sees Chinese Yuan As World Reserve Currency (ZeroHedge, March 23, 2014):

Following China’s unwillingness to vote against Russia at the UN and yesterday’s news that China will sue Ukraine for $3bn loan repayment, it seems Russia is returning the favor. Speaking at the Chinese Economic Development Forum, ITAR-TASS reports, the Chief Economist of Russia’s largest bank stated that “China’s Yuan may become the third reserve currency in the in the future.”

Managing Director and Chief Economist of investment company Sberbank Yevgeny Gavrilenkov said at the 15th governmental Chinese economic development forum in the Chinese capital on Sunday (via ITAR-TASS): Continue reading »

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Mar 22

- Will China Choose Russia or America in the Coming War? (The Common Sense Show, March 22, 2014):

As the reader progresses to the end of this article, it is clear that the banksters are in total control and are pushing Putin, Hu and Obama towards the inevitable WW III.

The Chinese are clearly in support of the Russians and this alliance has been fermented by the banksters who want the reorganizing that will follow WW III. For those naive people who view Putin as a hero against the New World Order, your misguided faith in this former Colonel of the KGB/Russian mafia operative, has been exposed.

{I’ve warned you about Putin before:

king-abdullah-putin-handsign
Take a close look at the handsign. Hopefully this time nobody will tell me that King Abdullah II ibn al-Hussein is flashing here the sign for ‘LOVE’ in sign language!
More pictures and explanation HERE.
And Putin? He is obviously smiling.
All the world’s a stage, and most politcians merely puppets.}

I must admit that when I sit back and marvel at the cleverness of how the bankers have set the world on a collision course with WW III, I am impressed with their collective intelligence and aghast at their evil in starting a war that will kill millions/billions. The world will never be the same. This country will never be the same.

It now makes sense as to why Obama has felt the need to fire 260+ senior command military officers, particularly in the nuclear weapons program, since his tenure in office began. The DHS purchasing 2.2 billion rounds of ammunition now makes more sense. All the FEMA Camp types of legislation makes complete sense as do DHS documents such as the MIAC report which vilifies veterans, gun owners and Constitutionalists as well as Christians. The international agreements to bring in foreign troops, under treaty, in times of national emergency, or rebellion of the American people, now make more sense as well.

I’ve warned you many times before that the elitists, who planned the financial crisis, have also planned the coming greatest financial/economic collapse & WW III.

They also want to depopulate the planet and get rid of about 6 billion people.

Meanwhile in China:

- Beijing hotel workers already ‘fed up’ with Obama entourage in 3400-square-foot, $8,350-per-night suite inconveniencing ‘pretty much everyone’ – and the first lady’s mother is ‘barking at the staff’ (Daily Mail, March 22, 2014)

In other news:

- Putin puts fear of God in New World Order: Barrett:

Putin is stopping New World Order “creative destruction” in Syria and Ukraine. He is part of a growing coalition opposing the NWO – not just religious traditionalists, but also progressive anti-globalization forces, including Hugo Chavez inspired anti-imperialists in Latin America.

We are facing an epic struggle between those who espouse sacred values such as justice and decency versus those who wish to destroy all values.

God bless President Putin, who is putting the fear of God into the New World Order.

So I am just saying: Be careful about Putin.

Compare the rise of Putin to the rise of Obama and you’ll find astonishing parallels.


- Obama will meet Xi Jinping of China in attempt to isolate Russia over Ukraine (Guardian, March 21, 2014):

The White House has added meetings with the leaders of China and Japan to Barack Obama’s visit to Europe and Saudi Arabia next week, as it seeks to use the six-day trip to build an international coalition and isolate Russia over its annexation of Crimea.

Amid criticism that Washington has sent weak signals about international resolve over the crisis, national security adviser Susan Rice announced on Friday that the flurry of diplomatic action – including hastily-arranged G7 and Nato meetings – was an opportunity to prove the US can continue to provide global leadership on a host of vexed issues.

Continue reading »

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Mar 22

Mastercard-Visa

- ​Visa, Mastercard block US-sanctioned Russian banks (RT, March 21, 2014):

International payment system Mastercard has stopped serving clients of seven Russian lenders, after the US issued sanctions against it regarding Russia’s position over the Ukrainian turmoil.

Rossiya Bank was blocked by both – Master Card and Visa, and with the latter also cutting ties with Sobinbank, SMP Bank and Investcapitalbank.

Seven Russian banks are involved in the suspension, according to Timur Batyrev, the head of the national payment system department at the Central Bank of Russia.

The blockade came without warning, Rossiya bank said. Continue reading »

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Mar 20

cyprus

- Ukraine Goes Cyprus 2.0, To Tax Deposits Over 100,000 Hryvnia (To Appease IMF?) (ZeroHedge, March 20, 2014):

It would appear the IMF’s dirty little fingerprints are all over this latest piece of legislation in Ukraine. The Ukraine Finance Ministry is proposing to take a very-similar-to-Cyprus approach to bailing in its despositors:

  • *UKRAINE PROPOSES NEW TAX ON DEPOSITS EXCEEDING 100,000 HRYVNIA
  • *UKRAINE TAX PROPOSAL WOULD INCLUDE 1.5% OF ALL DEPOSITS

This would appear a measure designed to stabilize the budget for potential IMF negotiations and fits perfectly with what the IMF has consistently hinted as the next steps for many nations.

This is further to the news last week that a 25% deposit “tax” was being considered… Continue reading »

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Mar 18

- 28-Year Old Former JPMorgan Banker Jumps To His Death, Latest In Series Of Recent Suicides (ZeroHedge, March 18, 2014):

Not a week seems to pass without some banker or trader committing suicide. Today we get news of the latest such tragic event with news that 28-year old Kenneth Bellando, a former JPMorgan banker, current employee of Levy Capital, and brother of a top chief investment officer of JPM, jumped to his death from his 6th floor East Side apartment on March 12.

031714realestate4MATT

From the NY Post:

Bellando, a former investment bank analyst at JPMorgan, is the son of John Bellando, chief operating officer and chief financial officer at Condé Nast. His brother, John, a top chief investment officer with JPMorgan, works on risk exposure valuations.

Continue reading »

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Mar 17

ubs-bandits

- UBS Investigated For Gold Manipulation Suggesting Gold Inquiry Goes Beyond London Fix (ZeroHedge, March 17, 2014):

The last time the FT penned an article on the topic of gold manipulation, titled “Gold price rigging fears put investors on alert” it was promptly taken down without much (any) of an explanation. Luckily, we recorded the article for posterity here. Earlier today, another article on the topic appears to have slipped through the cracks of the distinguished editors of the financial journal that enjoys the ad spend of the status quo, when it reported that “Gold pricing scrutiny widens”, hardly an update that will take the world by storm, however it is notable that “even” the FT, where for years goldbugs claiming gold manipulation had been ridiculed, is finally start to admit the glaringly obvious.

In this case, the FT looks at one of the most habitual and recidivist manipulators of practically every asset class that the market has ever known, Swiss bank UBS, better known as the rat that is allegedly perfectly happy to expose all other manipulators in exchange for immunity, and focuses on the Friday’s admission by UBS in its 2013 annual report: “that a review of its foreign exchange operations has been widened to include its precious metals business. In the report, the Swiss bank said: “Following an initial media report in June 2013 of widespread irregularities in the foreign exchange markets, UBS immediately commenced an internal review of its foreign exchange business, which includes our precious metals business.

Continue reading »

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Mar 17

- Russian Sanctioned By White House Responds On Twitter To “Comrade Obama” (ZeroHedge, March 17, 2014):

Moments ago we listed the Russian Putin “advisors” impacted by the latest Obama executive order freezing those assets over which the US has access. Among them was deputy Prime Minister Dmitry Rogozin and Russia’s ambassador to NATO. As a reminder, in 2011 Russian President Dmitry Medvedev appointed Dmitry Rogozin as a Special Representative on anti-missile defence and negotiations with NATO countries on this issue. On 23 December 2011 Dmitry Rogozin was appointed deputy premier of Russian Government in charge of defense and space industry. As responsible for the defense industry he leads the creation of the Russian Foundation for Advanced Research Projects in the Defense Industry (Russian DARPA). Moments ago Rogozin replied to Obama’s “freezing” of his, among other, assets.

Which, as reported on Friday, probably is the case for many Russians oligarchs, who were expecting this move by Obama long ago. Worst case, a whole lot of New York City duplex penthouses are about to hit the market. And then this follow up tweet: Continue reading »

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Mar 15

- International bankers behind crisis in Ukraine: Dean Henderson (PressTV, March 14, 2014):

A political commentator says international bankers and oligarchs are behind the crisis in Ukraine but Western media outlets are keeping mum about their role in the.

Dean Henderson, who has written several books, including Big Oil and Their Bankers in the Persian Gulf: Four Horsemen, Eight Families and Their Global Intelligence, Narcotics and Terror Network, made the remarks on Thursday during a telephone interview with Press TV, commenting on US officials’ repeated threats of sanctions against Russia and Washington’s military buildup in the Baltic region to intimidate Moscow.

“Well, again it’s the case where the mainstream media serve as the mouthpiece for the establishment, for the bankers … According to them, it’s all about the Russians and how the Russians are trying to protect their Black Sea fleet, which is in Crimea — which they have every right to do; they got a 150 years old lease, and they’ve been there forever –, and people in that region do speak Russian,” he said.

Continue reading »

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Mar 14

- Foreigners Sell A Record Amount, Over $100 Billion, Of Treasurys Held By The Fed In Past Week (ZeroHedge, March 14, 2014):

A month ago we reported that according to much delayed TIC data, China had just dumped the second-largest amount of US Treasurys in history. The problem, of course, with this data is that it is stale and very backward looking. For a much better, and up to date, indicator of what foreigners are doing with US Treasurys in near real time, the bond watchers keep track of a less known data series, called “Treasury Securities Held in Custody for Foreign Official and International Accounts” which as the name implies shows what foreigners are doing with their Treasury securities held in custody by the Fed on a weekly basis. So here it goes: in the just reported latest data, for the week ended March 12, Treasurys held in custody by the Fed dropped to $2.855 trillion: a drop of $104.5 billion. This was the biggest drop of Treasurys held by the Fed on record, i.e., foreigners were really busy selling.

Continue reading »

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Mar 13

And Another Trader Commits Suicide, Brings Total Recent Banker Deaths To 10

- Another Trader Commits Suicide, Brings Total Recent Banker Deaths To 10 (ZeroHedge, March 13, 2014):

For a market that is flirting with all time highs on a daily basis, the recent banker and trader suicide epidemic seems oddly out of place. And yet, it continues to claim even more victims, with the latest casuality being Edmund Reilly, 47, a trader at Midtown’s Vertical Group, who as the Post reported, jumped in front of an LIRR train station yesterday at 6 am near the Syosset train station and was pronounced dead at the scene.

More:

A Manhattan trader was killed Tuesday morning by a speeding Long Island Rail Road commuter train, marking at least the seventh suicide of a financial professional this year.

Edmund (Eddie) Reilly, 47, a trader at Midtown’s Vertical Group, jumped in front of an LIRR train at 6 a.m. near the Syosset train station. He was declared dead at the scene.

Continue reading »

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Mar 12

- Wall Street Bonuses Soar 15% To Highest Since 2007 (ZeroHedge, March 12, 2014):

Wall Street bonuses (on average) in 2013 rose 15% to the highest since 2007. As OSC Tom DiNapoli notes, “Securities industry employees took home significantly higher bonuses on average… although profits were lower than the prior year.” In fact, as we noted earlier, profits at the banks fell 30%.

bonus-1

Average compensation for securities industry professionals in New York City ($360,700) were 5.2 times greater than the rest of the private sector ($69,200).

salaries-NYC

Thank You Ben…

But don’t get too excited… The US is not #1 when it comes to bonuses… Continue reading »

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Mar 12

- “Magic” Collateral: A Frank Look At The Sheer Credit Horror About To Be Unleashed In China (ZeroHedge, March 11, 2014):

While the world is terrified about what China – where corporate bond defaults are now permitted – may be about to unleash on the world, most are all too happy to remain in a state of delightful ignorance. We decided to take a peek behind the scenes.

Recall that as we have repeatedly shown in the calendar of coming Chinese bond default, on March 31, a borrower named “Magic” (no comment) is set to default on a CNY196 million Trust.

magic citic

The default may or may not happen, as there is always a high likelihood it will simply be bailed out as has happened frequently in the past, but regardless of the final outcome, here is what is really going on behind the scenes.

From Bank of America: Continue reading »

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Mar 11

Crushed-Car-By-UCFFool

- We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis (Economic Collapse, March 10, 2014):

None of the problems that caused the last financial crisis have been fixed.  In fact, they have all gotten worse.  The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming.  Unfortunately, most people do not know the information that I am about to share with you in this article.  Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis.  But the truth is that we are in far worse shape than we were back then.  When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic. Continue reading »

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Mar 11

- The Holy Grail Of Trading Has Been Found: HFT Firm Reveals 1 Losing Trading Day In 1238 Days Of Trading (ZeroHedge, March 11, 2014):

Think JPM’s zero trading day losses in 2013 was impressive? Prepare to have your mind blown. The chart below shows the chart of daily net trading income by High Frequency Trading titan Virtu, taken from its just filed IPO prospectus. The punchline: in 4 years of trading Virtu has had one, one, day in which it lost money.

From the S-1: “The chart below illustrates our daily Adjusted Net Trading Income from January 1, 2009 through December 31, 2013. As a result of our real-time risk management strategy and technology, we had only one losing trading day during the period depicted, a total of 1,238 trading days. “

VRTU Trading Days

Let that sink in: one trading loss day and 1237 days of profits. And that, ladies and gentlemen, is the Holy Grail of the New Normal broken, manipulated markets.

Continue reading »

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Mar 08

Prepare for collapse.


- China Is Crashing … As Predicted (Washington’s Blog, March 7, 2014):

The head of China’s sovereign wealth fund noted in 2009: “both China and America are addressing bubbles by creating more bubbles”.

He’s right …

Global credit excess is worse than before the 2008 crash.

The U.S. and Japan have been easing like crazy, but – as Zero Hedge notes  [if you missed it when Tyler Durden first posted this] – China has been much worse:

China vs US Bank Assets - Total and Change

 Here is just the change in the past five years:

China vs US Bank Assets_1

You read that right: in the past five years the total assets on US bank books have risen by a paltry $2.1 trillion while over the same period, Chinese bank assets have exploded by an unprecedented $15.4 trillion hitting a gargantuan CNY147 trillion or an epic $24 trillion – some two and a half times the GDP of China!

Continue reading »

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Mar 07

- Obama Signs Executive Order Blocking Certain Russian Assets Due to Ukraine Crisis (Liberty Blitzkrieg, March 6, 2014):

Ok, so this seems like a very big deal and may represent a serious escalation in the soft conflict happening between the U.S. and Russia. As of today, the U.S. seems to be using financial warfare in its response. Not only does this Executive Order issued today appear to block certain Russian assets, it also imposes travel restrictions. The question on my mind now is, does Russia hold some of its treasuries in the custody of the Federal Reserve? If so, are these now frozen?

Here’s the text of the Executive Order (emphasis mine):

Executive Order — Blocking Property of Certain Persons Contributing to the Situation in Ukraine

EXECUTIVE ORDER

- – – – – – -

BLOCKING PROPERTY OF CERTAIN PERSONS CONTRIBUTING TO THE SITUATION IN UKRAINE

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.) (NEA), section 212(f) of the Immigration and Nationality Act of 1952 (8 U.S.C. 1182(f)), and section 301 of title 3, United States Code,

I, BARACK OBAMA, President of the United States of America, find that the actions and policies of persons — including persons who have asserted governmental authority in the Crimean region without the authorization of the Government of Ukraine — that undermine democratic processes and institutions in Ukraine; threaten its peace, security, stability, sovereignty, and territorial integrity; and contribute to the misappropriation of its assets, constitute an unusual and extraordinary threat to the national security and foreign policy of the United States, and I hereby declare a national emergency to deal with that threat. I hereby order:

Section 1. (a) All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person (including any foreign branch) of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in: any person determined by the Secretary of the Treasury, in consultation with the Secretary of State: 

Continue reading »

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Mar 03

You can listen to the full interview here:

Former central banker: “[Bankers] are making it up as they go along. (Sovereign Man, March 3, 2014):

[Editors note: Tim Price, Director of Investment at PFP Wealth Management and frequent Sovereign Man contributor is filling in for Simon today.]

A few weeks ago, William White (former economist at the Bank of England, the Bank of Canada, and Bank of International Settlements) made a frank admission.

And while we search for assets whose prices are less obviously distorted by malign government intervention, it’s refreshing to hear a mea culpa from a member of the economics “profession”.

White said: Continue reading »

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Mar 02

- US Official Claims 6,000 Russian Troops In Complete Control Of Crimea – Crisis Map Update (ZeroHedge, March 2, 2014):

While the images and local news have been suggesting that Russia is in control on the Crimean peninsula, US officials (according to Bloomberg) have confirmed this:

  • *RUSSIAN FORCES IN COMPLETE CONTROL OF CRIMEA: U.S. OFFICIAL
  • *RUSSIA HAS 6,000 TROOPS IN CRIMEA, U.S. OFFICIAL SAYS
  • *KERRY TO REAFFIRM SUPPORT FOR UKRANIAN SOVEREIGNITY, PSAKI SAYS

Obama, Merkel, and Cameron are now on a conference call to discuss this “fact” and officials have just reported that US Secretary of State John Kerry will visit Kiev tomorrow (though we suspect not Sevastopol): Continue reading »

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Mar 02

- Ukraine Capital Control Crunch: Largest Bank Limits Cash Withdrawals To $100 Daily (ZeroHedge, March 2, 2014):

As we warned on Friday, the military escalation in Ukraine has had dire consequences for the financial state of the country, its banks, and ultimately its people. The central bank promised to rescue domestic banks so long as they agreed to its complete control and it appears the first consequences of that “we are here to help you” promise is coming true:

  • UKRAINE’S PRIVATBANK LIMITS ATM WITHDRAWALS TO UAH1,000/DAY ($103/day)

Privatbank is Ukraine’s largest bank and while claiming this move is temporary (just like Cyprus’ capital controls), the bank has also ceased new loans amid what it calls “geopolitical instability”. In summary, you can’t have your money back! Expect long angry lines at Ukrainian banks on Monday morning (and at the pace of collapse in the Hyrvnia, hyperinflation next). Continue reading »

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Mar 01

Ukraine Imposes Capital Controls, Limits Foreign Currency Withdrawals

- Ukraine Imposes Capital Controls, Limits Foreign Currency Withdrawals (ZeroHedge, Feb 28, 2014):

Yesterday we reported that as part of the Ukrainian central bank’s plan to bailout the nation’s largely insolvent private banks, it would provide any needed funding but only “if they will remain under open control of the National Bank of Ukraine.” And since the new CB head Stepan Kubiv’s allegiance to Europe were already well-known, this was merely a quick and efficient way of providing Europe with all the banking details including asset holdings of the local population. Today, the annexation of the country’s banking system by a “benevolent” Europe is complete.

Itar-Tass reports that Ukraine’s national bank has imposed temporary limits to withdraw money from foreign currency deposits to sums equivalent to no more than 15,000 hryvnias (about $1,500) a day, National Bank Chief Stepan Kubiv told a press conference. Or, as the citizens of Cyprus call it – capital controls.

Continue reading »

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Feb 28

State-rescued lender confirms total losses since bailout level with 2008 state bail-out

- RBS has lost all the £46bn pumped in by the taxpayer (Telegeraph, Feb 27, 2014):

Royal Bank of Scotland has lost all the money invested in it by the taxpayer six years ago when the lender came close to collapse.

The bank has confirmed its total losses since its bailout have now drawn level with the £46bn pumped into it in 2008 in return for an 81pc stake.

RBS made a loss last year of £8.2bn, its sixth consecutive annual loss, taking its cumulative losses to £46bn.

The scale of the losses means that all the capital provided by the taxpayer has now been used up dealing with the toxic legacy assets on the bank’s balance sheet.

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