At $72.8 Trillion US Deutsche Bank is the bank with the biggest exposure to the pending Derivatives collapse. That is more than 3.5 times more than the entire global GDP. That is also more than $ 2 trillion more than JP Morgan. So it should come as no surprise they want to loot as much […]
Tag Archives: Derivatives
Just in case your wondering why we are being prepared to have all our water tanks and water supplies privatized and exploited by John Key, his international mates and National here is a hint: Nestlé CEO Peter Brabeck thinks we should not have the right to clean water (in fact he thinks that this an […]
On Friday, the New York Times reported that banks are continuing to practice risky behavior as the economy “improves.” While the mainstream media has been quick to discuss the improving economy, not much conversation has been situated around whom exactly the economy is improving for and how millions of Americans still struggle financially. Just one […]
And if you think that is bad wait until they start “financializing” water. Why does it seem like wherever there is human suffering, some giant bank is making money off of it? According to a new report from the World Development Movement, Goldman Sachs made about 400 million dollars betting on food prices last year. […]
If Greece defaults even partially it will trigger the insurance hedges countries have taken to insure their risks against foreign Currencies. This is what will be the result: Late last night S&P placed Greece into “Selective Default” again. This is not the first time that Athens has been placed in the jailhouse and perhaps it […]
A couple of months ago Water Care started to charge incredible sums for water in the Auckland region. Here is a Newspaper article about how derivatives trades can go (no, are programmed to go) terribly wrong. In it Watercare is quoted as having made a $ 60 million loss on its Derivatives gambles. Could it […]
According to Dutch News paper the Telegraaf the The Depository Trust & Clearing Corp of New York just lost $ 36.5 TRILLION in Derivatives in Hurricane Sandy. According to Newsweek the clearing house admits that the cellars have been been flooded but denies that the paper work has been destroyed stating that the real damage […]
Updated with correct link! If you are or know a New Zealand Farmer who lost his/her farm as the result of the Derivatives sold to him you might want to watch this and give the link to your farming colleagues! The first half lays out why the selling of these fraudulent instruments and the subsequent […]
Another fantastic Rant From the Artist Taxi Driver and yes our debt is spiralling out of control too. $112 Billion in Derivatives is only the beginning!
In the coming days I will pay extensive attention to Clearing houses, their role in the Financial world and the fact that since September New Zealand has its own Clearing house and what that might mean for us private citizens.
We have waved goodbye to Bollard who did not see the 2008 crisis coming but do everything the same regardless and we will welcome a brand spanking new Governor (more on him in future posts), we will also see the birth of a brand spanking new Derivatives Clearing house (About which also more in future […]
A fellow blogger pointed me in the direction of the fact that in 2007, 2008 and 2009 Farmers in New Zealand have been sold Derivatives Swaps. In an interesting series the Sunday Star times is shining a light on this practice. In Britain, it’s being called a scandal. In New Zealand, there’s been barely a […]
JP Morgan Chase registered as a bank in New Zealand on the 1th of October 2007 although on their official website they sell them selves as having a 140 year old history with Australia and New Zealand. It was in that same year the alleged LIBOR manipulation started according to the latest revelations. JP […]
Hat tip Mick MC… This from Tehran. Four bankers condemned to hang, two to lifetime Prison and the rest of some 36 bankers to jail time of anywhere from 25 years, 20 years, 10 years, to less severe sentences. For what? The embezzlement of a mere $2.6 Billion. In China two female bankers have been […]
Around the world Pension funds are being exposed as underfunded and unable to cope with demand. In 2002 a Merrill Lynch investment and wealth management banker named Ira Bing took place on the first board of Guardians of a new founded Sovereign Wealth fund we now call “the Cullen fund”. He stayed on the board […]
Very interesting interview with Rob Kirby from Kirby Analytics about LIBOR rigging and its function together with the Derivatives as a price control mechanism. Kirby also touches on a little known treasury group called the Exchange Stabilisation Fund which operates as a kingpin, located conveniently at the nexus between US monetary policy, foreign policy and last […]
Bill Moyers, Matt Taibbi and Yves Smith on why Greece, Spain and all the countries whose financial stability is currently collapsing. When it starts to happen to us here is what National under Wall street banker John Key has been building up even after John Key was “Shocked” to find his old bank to be […]
Last Saturday I was speaking to a group of ratepayers and Gray power members about the toxic derivatives and the $ 112 billion of them off the books of our Government. It turned out that a former CFO of Fonterra was in the audience. Of course Fonterra like any sensible agricultural business offset their risks […]
Sometimes a picture tell a thousand words: And JP Morgan got downgraded today! Source Reggie Middleton BoomBust blog
“Around 2002 in particular, various investment banks offered complex financial products with which governments could push part of their liabilities into the future,”
I was writing an article about the Cullen fund and the superannuation age of 65 and why John Key would want to keep it at 65 while the whole country can see the writing on the wall. While I was doing research for this post I tried to find out who were the financial advisors […]
With all the bad economic news and the Financial disasters I thought I’d bring you some good news! While most Kiwi’s still labour under the illusion that John Key as a hard nosed businessman will see them right, elsewhere in the world people are beginning to wake up to their antics and I’m happy to […]
Just imagine living like this. Your country is experiencing bank runs every day for the last two weeks and you have stocked up on food to help you survive the coming elections and the possible collapse of your currency. Well that is what’s happening in Greece and it will happen here. $ 112 Billion in […]
Here is an excellent interactive timeline of the Derivatives bubble. Note that it was John Key’s bank the Bankers trust bank which is credited with the development of the Collateral Default Swap ( financial weapon of mass destruction in 1991. When John Key was working there.
From Dr. Paul graig Roberts Ever since the beginning of the financial crisis and quantitative easing, the question has been before us: How can the Federal Reserve maintain zero interest rates for banks and negative real interest rates for savers and bond holders when the US government is adding $1.5 trillion to the national debt […]
“Our big problem would be … if Europe goes, China could slow down, Australia would be very badly affected by the China slowdown and that’s the nightmare scenario for us – a slowdown in China, our second-largest market, a slowdown in Australia, our largest market, a weak United States and we’re in a diabolical position.” John Key, London, 7-6-2012.
Let’s assume for a moment that John Key did not earn his fortune with what in 1993 was already recognised as the instrument which would eventually bring down our entire global economy and just realise what he said here in public.
If the whole shebang goes we’re up shit creek without a paddle. No kidding!
Here is why you’d better have your veggies and spuds planted and a couple of chickens in your backyard because the sound of the collapse is deafening!
Dear John, A couple of days ago it was announced you were to travel to Europe. Nice one, meeting important people and travelling around some interesting cities while feasting on good (free) food and quaffing great wine while wearing expensive Paunamu washed suits and with the wife too! One of the reasons you had to […]
I don’t know about you but if we have $ 120 million to pay foreign advisers on how we can sell off our assets, $ 112 billion to gamble in derivatives, and God knows how much to give to rich pricks in tax cuts than why the fucking hell don’t we have money to pay […]
Great, does that mean the US taxpayer will pay us $ 112 Billion when Wall streets crappy Derivatives collapse on us? Nah, didn’t think so! … Which Will Lead to Bailouts and Encourage Even More Fraud The government has been bailing out the giant, insolvent banks for years. (Many of the bailed out banks are […]
And while New Zealand wakes up to arguably one of the worst budgets in the last twenty years (Ruthanasia anyone) and even kids with a holiday job have to pay tax so the rich can continue getting richer while everybody gets poorer here is what is happening in the rest of the world. In a […]
