What is truth?

Posts tagged ‘Financial Services’

At $72.8 Trillion, Presenting The Bank With The Biggest Derivative Exposure In The World (Hint: Not JPMorgan)

by Tyler Durden

Moments ago the market jeered the announcement of DB’s 10% equity dilution, promptly followed by cheering its early earnings announcement which was a “beat” on the topline, despite some weakness in sales and trading and an increase in bad debt provisions (which at €354MM on total loans of €399.9 BN net of a tiny €4.863 BN in loan loss allowance will have to go higher. Much higher). Ironically both events are complete noise in the grand scheme of things. Because something far more interesting can be found on page 87 of the company’s 2012 financial report.

The thing in question is the company’s self-reported total gross notional derivative exposure.

And while the vast majority of readers may be left with the impression that JPMorgan’s mindboggling $69.5 trillion in gross notional derivative exposure as of Q4 2012 may be the largest in the world, they would be surprised to learn that that is not the case. In fact, the bank with the single largest derivative exposure is not located in the US at all, but in the heart of Europe, and its name, as some may have guessed by now, is Deutsche Bank.

The amount in question? €55,605,039,000,000. Which, converted into USD at the current EURUSD exchange rate amounts to $72,842,601,090,000….  Or roughly $2 trillion more than JPMorgan’s.

German%20GDP%20vs%20DB%20Derivatives_1

full article at source:http://www.zerohedge.com/news/2013-04-29/728-trillion-presenting-bank-biggest-derivative-exposure-world-hint-not-jpmorgan

Why is it?

Sent in to us to-day by Chris

“How is it that in 1495 the labourer was able to maintain himself in a  standard of living considerably higher, relatively to his generation, than that  of the present time, with only 50 days’ labour a year, whereas now millions are  working in an age of marvellous machinery the whole year round, in an effort to  maintain themselves and their families just above the line of destitution? Why  is it that 150 years ago the percentage of the population which could be  economically classed as of the middle and upper classes was two or three times  that which it is at the present time? Why is it that while production per  man-hour has risen 40 or 50 time at least in the past hundred years, the wages  of the fully employed have risen only about four times, and the average wage of  the unemployable is considerably less than four times that of a hundred years ago,  measured in real commodities? How is it that the nations are given over to the  dictatorship of men of gangster mentality, whose proper place is in a Borstal  institution?……You may be interested to know that no Bill can proceed from  any department of the Government direct. Every Government Bill has to be drafted  by the legal department of the Treasury, which we all know to be in effect a  branch of the Bank of England, thus making it certain that no Bill can come  before Parliament which interferes in any way with the supreme authority of the  Treasury and that private international institution, the Bank of England.”  (The Tragedy of Human Effort by CH. Douglas, 1936).  To read the  complete text:   http://www.bankwatch.info/Library/The%20Tragedy%20of%20Human%20Effort.htm

Psychiatrist targets lenders on behalf of patients feeling strain over increased financial pressures

Dr Ivor Browne, says he has been seeking out the names of bank staff responsible for the pressure his patients are under before issuing them with the formal notice.

Dr Browne, former chief psychiatrist of the Eastern Health Board, said the action is “making waves” in favour of patients who can no longer cope with mounting pressure.

“I am hearing people who are being hassled and who are being threatened that their homes will be repossessed,” Dr Browne said.

“I am writing letters to the banks holding them personally responsible if this man commits suicide.”

“Unless you can make them take personal responsibility, it is very difficult to get at them,” he said.

“I would write to the individual who would seem to be implicated. The name that I can get,” he explained, adding “I think it is making waves in the background”.

In a call to other health professionals who are treating people in similar circumstances, Dr Browne said these exceptional times called for direct action: “I am there to try to help in whatever way I can, and if there is something or someone that is clearly putting unfair pressure on patients, then I think that you have to address that.”

A move by health  professionals who are concerned about the welfare of their patients could lead banks to rethink their debt-collection strategy – for fear of future lawsuits………………

full article at source: http://www.independent.ie/irish-news/top-prof-tells-the-banks-ill-blame-you-for-suicides-29418331.html

 

Comment:

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I completely concur, I have stated that I believe these Bank staff are personally responsible for hundreds of deaths and it is about time the names of these staff be  published. Machholz blog to-day invites all who are been put under  unreasonable pleasure by lackeys from the banks to send in the names and we will publish these servants of the faceless moneymen who have been bailed out themselves and are now expecting to squeeze blood out of the very people who bailed them out! We the people own these toxic cess-pits and we do not have to pay any more blood money. We as a Nation must stand together and support each other and stand together. We the people have allready paid the Banks !I say,  Name and shame these Bank thugs !. Stop paying them! I propose you record every encounter you have with these blood suckers  and we at Machholz blog will post any and every encounter with the banking staff from any distressed citizen in the country !

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These collaborators must be made see their actions are directly responsible for the deaths of real people and this action will not go un noticed ,Once named and shamed Machholz blog will be calling on all citizens to boycott any and all these collaborators !The political elite in this country have thrown is citizens to the wolves’ in the Banks and it is up to every citizen to stand by their neighbours and friends in an act of communal spirit we the Irish were world famous for. So Turn off your TV sets and get you collective backsides  of the couches’ and get out there and lend a hand to a Neighbour in need!

We must stand up to these bullies now!

Why are we in Ireland still paying corrupt bankers who are laughing at us?

sent in to me again to-day (first video)Although I don’t agree with everything this guy is saying I do agree with what he is saying about the home mortgages forgiveness

What has changed ???

Nothing has changed in Ireland ! we now know the the bankers were laughing at us ,the poor smucks who are struggling to pay off their overpriced mortgage for shoe boxed sized homes .We the people should now demand immediate mortgage forgiveness on every home in the country ,I am saying every home (Not commercial mortgages or buy to let mortgages) and yes I have paid off my mortgage but I am in favour of forgiveness of home mortgages. All the politicians with their dirty fingers in this corrupt pie should be brought to book and put on the dole full stop!

We the people have paid already for this as we have bailed out the banks and we the people own these shit holes now so we own this money to ourselves

 

Wake up people of Ireland and see the crap we are putting up with!

Thomás o Cléirigh

How the banking collapse turned into a dramatic hostage crisis

The brilliant English economist John Stuart Mill, writing in the 1860s, noted that “a crash doesn’t destroy wealth, it merely reflects the extent to which wealth has already been destroyed by stupid investments made during the preceding boom”.

Mill’s way of looking at financial crises, examining the period well before the bubble burst, when the boom masked the progressive destruction of wealth, remains the most constructive way to look at any financial crash, including the great Irish banking/property crash.

Let us not forget that every bank in Ireland went bust. It didn’t matter whether the banks were locally or foreign run and owned. They all indulged in reckless lending and they were all bailed out.

To date there hasn’t really been a satisfactory answer as to how exactly this happened deep inside each bank and why there didn’t seem to be even one dissenting bank. Nor is there any real answer as to why the Central Bank and the regulator ignored all the warning signs, or why those few who did warn and publically stressed the dangers of all this reckless lending were scorned and vilified.

full article at source: http://www.davidmcwilliams.ie/2013/06/27/how-the-banking-collapse-turned-into-a-dramatic-hostage-crisis

Ireland the next “Bailout “A LA Cyprus on the way !

By Thomás O Cléirigh

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As I write this I am hearing on the Irish radio that the finance minster is in Talks to formalise the “Cyprus Bank bail in” system for a European wide execution .If you are an Irish depositor get your money out now as these crooks will be taking a hefty slice of you hard earned money to contribute to the next phase of the Irish Bank bailout madness!

The public are been kept in the dark as to the real ramifications of this so called new fiscal measures, now been formalized to secure the European banking system from total collapse. Make no mistake we the citizens are been set up once again for a massive fall and we will have to foot the bill that is sure to come by the autumn. Allied Irish Bank is Bankrupt and the only way for this toxic corrupt zombie bank to survive will be the wholesale robbery of its customers A LA Cyprus!  I just checked again on the RTE website to hear once again the news podcast but the item is no longer to be found!

The public are been kept in the dark!

See also: http://thepressnet.com/2013/05/13/if-i-provide-proof-that-the-entire-irish-banking-system-is-a-sham/

http://youtu.be/7gwCdgmTttU

Where is justice in Ireland?

By Thomás O Cléirigh

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Questions have to be made about Irish Bank practices during the so called housing boom and you don’t have to be a genius to figure out that the banks took shortcuts that are still been hidden from the unfortunate clients/victims of the corrupt banks .Why should the mortgage holder, who is now nursing massive losses, now have to pay for the ( at best )incompetence  and in so many other cases downright fraudulent practices by the banks and their agents???May I remind everyone not one banker has come before the courts and in fact all of the disgraced directors are enjoying lottery pensions  and we the downtrodden taxpayers are footing the bill for their millionaire lifestyles.

 

Where is the justice we are guaranteed by our constitution?? if corrupt politicians, union bosses and bankers can exploit the resources of our country and impose austerity on the rest of us?

Wake up citizens of Ireland! Fight back !

Arrears and the Paradox of Aggregation

By David Mc Williams

So we have arrived at the day when the State has to deal with the consequences of the housing binge on the balance sheet of the ordinary person. A few years ago, people who warned this day would come were dismissed as doom-mongers. Now we see what was clear all along: the real merchants of doom were those who harassed a generation of people into debt, condemning them to negative equity and unpayable mortgages. This problem has to be fixed because the economy, burdened with such huge levels of debt, cannot grow.

It’s a simple equation. If people are paying back debt, they are not spending on other things. The economy runs on the basis that, in the aggregate, my spending is your income and your spending is my income.

Therefore, if people are not spending because they are paying back debt, everyone’s income eventually falls…………………………………………

full article at source: http://www.davidmcwilliams.ie/2013/03/14/arrears-and-the-paradox-of-aggregation

WHAT DOES YOUR HOME MEAN TO YOU?

Your Home, your Emotional Wellbeing and Security, that is what the Courts affect when they facilitate the Banks by ruling in their favour at repossession hearings, in almost 100% of cases the entire merits of the case are decided on three simple questions,

  1. Did the borrower, borrow the money?
  2. Is the Borrower making payments?
  3. If not, when was the last payment made?

That is it in a nutshell, the process is started by the Bank’s with the sole objective of steering the Court proceedings to a point where the Borrower is either not present or stands in the intimidating environment of the Court, alone, unprepared and unrepresented. There is not a snowball’s chance in hell of the outcome being anything other than the Borrower losing their home.

The Judge will not consider any evidence, motion or pleading which is not presented to him in a certain fashion which complies with the Court rules, so hope on the part of a borrower is non-existent.

Now we must consider the Bank, which is applying to the court for an order to take the home from the distressed Borrower, the very Bank which was complicit in creating the conditions which gave rise to the domino effect of degenerating personal finances and eventual inability to pay that culminated in the Borrower being in Court

full article from our friends over at “Awaken Longford” link here http://awakenlongford.wordpress.com/2013/02/04/what-does-your-home-mean-to-you/

 

Is Bigger Banking Better?

Big banks are good for society, says George Osborne … Big banks are good for Britain and must not be broken up, according to George Osborne, as he argued the country’s largest lenders were beneficial to society. George Osborne told the Commission on Banking Standards: ‘If we aggressively broke up all of our big banks, I am not sure that, as a society, we would benefit form it.’ – UK Telegraph

Dominant Social Theme: Big banks are necessary for the progress of civilization.

Free-Market Analysis: So now the truth comes out. Perhaps “big” banks did not evolve out of marketplace necessity after all. Perhaps they are part of what we call directed history.

We’re led to believe that big banks are part of a larger evolution of commerce. But if there is one thing the Internet Reformation has shown us clearly it is that much of what we assumed was an evolution of reality was actually a procession of regulatory impositions.

In other words, the current financial situation in the West and even worldwide is manufactured by regulations and power brokers. In aggregate we call this group the power elite. We believe it gains most of its clout by controlling the trillions and trillions pumped out by central banks, especial in times of crisis.

This elite does NOT necessarily gain its wealth via interest flowing to the top but by CONTROL of numerous corporate and financial entities that create wealth in NUMEROUS ways.

But large banking establishments are certainly part of the larger control that the elites attempt to exercise over society. Some have suggested that the massive nature of these entities illustrates they are nothing more than bookkeeping establishments, designed to keep track of people’s assets on behalf of the uppermost elites.

full article at source: http://www.thedailybell.com/28338/Is-Bigger-Banking-Better

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