No, It Really Is That Bad Or Why You Have To Take Forbes 12 point list On The NZ Economy Seriously

Predictably Kiwi economists, which I count amongst the worlds most ignorant, and NZ’s Finance minister Stephen Joyce tried to downplay Jesse Colombo’s list of 12 clear reasons why the “Rockstar” economy is in an unsustainable bubble. I give you an interview with Naomi Prins who just published a book called “All the President’s bankers” about […]

HSBC Says NZ Rockstar Economy. They Should Know They made Maddof Into One Too

A couple of days ago HSBC chief economist for Australia and New Zealand Paul Bloxham told us that NZ’s economy was poised to grow dramatically in 2014 and would be a veritable Economic “Rock star”! Here are some pointers as to why you won’t feel the difference other than that you will feel poorer and […]

On Default Swaps, New Zealand Farmers And Small Businesses And How Banks Have Set them Up For Looting!

Here Max Keiser and Stacey Herbert explain why the  credit default swap was a bad idea and those who were forced to buy them where set up to fail in order to rob them of their businesses and here in New Zealand where it emerged that farmers had been “advised” to buy those same Default […]

Fuck Democracy? Why $ 9 Million On The Referendum Is Money Well Spend Or Remind Me Again Why We Spend $ 115 Million Selling Our Stuff?

John Key thinks that spending $9 million on a National referendum of Asset sales is a waste of money. He thinks that because first of all, it’s all just about sending a signal and all our assets will be sold before the referendum anyway. John Key was elected on the sales pitch that he was […]

On GIABO, Corruption and Bankers Arses Or Why I Love The Irish!

“Just, as Drummer (then-CEO David Drumm) would say, ‘picked it out of my arse’.” Head of Capital Markets, Anglo Irish bank John Bowe. 2008

Yeah and we’ll be saying ‘Yeah , because, a stress because HBOS were fucking sold and Lehmans went bust and fucking Bank of America fucking took over Merrills and other fucking non-normal things happened, you cunt’. David Drumm, the Chief Executive at Anglo Irish bank at the time of the crisis. (2008)

And than all shit hit the fan and I said: “Right, I’m out of here”. John Key, Upon the Bankers trust bank imploding after they were caught selling fraudulent Derivatives to, amongst others, Proctor and Gamble Inc (1995)

Libor Rigging: Bankers’ Attempts To Prevent Identification Fail In High Court

Scores of bankers have failed in a bid to prevent their names being revealed during preliminary hearings of a High Court case centred on the rigging of a lending rate by Barclays staff. More than 100 employees or former employees of Barclays wanted their identities kept secret during pre-trial hearings in London on Monday. But […]

Loss of income caused by banks as bad as a ‘world war’, says BoE’s Andrew Haldane

No Kidding! The financial crisis has been as economically devastating as a world war and may still be a burden on “our grandchildren”, a top Bank of England official has said. Andy Haldane, the Bank’s executive director for financial stability, added that public anger at the banks was fully justified and that pay in the […]

Barclays traders are damned by their own emails which reveal how they bragged about rigging energy prices to make profits

Echo’s of Enron! Emails and phone messages between foul-mouthed Barclays traders in New York reveal how they bragged about rigging energy prices in America to make huge profits. Critics yesterday said the expletive-ridden correspondence provides further evidence of the ‘rotten culture of casino banking’ that built up under disgraced former boss Bob Diamond. The bank […]

Max And Stacey E357: Credit Default Swaps and LIBOR, The Two Make The Biggest Financial Scam Ever Perpetrated!

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 […]

On Watercare, $ 100 a month bills and Aucklands Privatised Water!

Update: received a photo of a bill! News is beginning to reach me that Auckland residents are receiving bills for water of around a $100 a month. They are receiving these from a company called Watercare. I would  like to have a copy of the contract the receiver of these bills has signed with this […]

Did the Too-Big-Too-Fail Banksters Rig LIBOR to Begin the Big Looting in 2008?

Update: As I was writing this I realised that if we accept that some of the big players in the financial world were involved in insider trading just before the events of 9/11 making money of the events of 9/11 and if we accept that LIBOR was manipulated from as early as mid 2004 with […]

Greece, Spanish banks downgraded and Jamie Dimond invited to testify before the Senate!

Update on the developing European banking crisis! Fitch has downgraded Greece again and Moody only downgraded 16 Spanish banks after it had announced it would downgrade 21 banks. And Jamie Dimon the CEO of JP Morgan has been invited (What is wrong with old fashioned arrests and police investigations I wonder) to testify before the […]

Bloomberg Sues The Bucket Shop Known As The ECB, Seeks Disclosure Of Secret Greek Swap Documents

Here is what Bucket shop means for those who don’t know. And so the spirit of Mark Pittman lives on. Bloomberg, which last year sued the Fed in a landmark FOIA case, and won (a decision which is being appealed by the kleptocrats but not the Fed), has decided to go transatlantic, and is now […]

As Greece Deems 66% CAC Bondholder Acceptance Sufficient, Has It Threatened To Scuttle Its Bailout All Over Again?

According to the Wall Street Journal, the Greek threshold for “successful” CAC passage is now expected to be just 66%, far below the 95% discussed yesterday. Says the WSJ: “The Greek government is aiming for a minimum participation of least two-thirds of bond holders in a planned debt exchange, a finance ministry official said Tuesday, […]

PM Key’s radio show referred to police

Too late, too little and after the damage is done! A RadioLive show hosted by the Prime Minister John Key prior to the election has been referred to the police for breaching the Broadcasting Act. The Electoral Commission confirmed this morning that it had referred the broadcaster to police. Key hosted the hour-long show on […]

Behold The New Anschluss: ECB’s Paramo – “Prepare To Give Up Significant Sovereignty”

From Zero hedge: The only quote worth noting from the just delivered speech by ECB executive board member José Manuel González-Páramo is the following: “We cannot completely delegate governance to financial markets. The euro area is the world’s second largest monetary area. It cannot depend solely on the opinions of ratings agencies and markets. It […]

Chinese fund managers sentenced to DEATH for cheating investors out of $1 billion

Now there’s a concept. You rip people off you get the death penalty! That would sort the banks out real quick wouldn’t it? A real estate tycoon in Lishui, Zhejiang Province, has received a death sentence for illegally raising 5.5 billion yuan ($800 million) from the public, reported the Procuratorial Daily on Monday. Ji Wenhua, […]

On tapes, secret scumbaggery and why John Key should have known better!

It’s Nov. 2, 1993, and two employees of Bankers Trust Co. are discussing a leveraged derivative deal the bank had recently sold to Proctor & Gamble Co. “They would never know. They would never be able to know how much money was taken out of that,” says one employee, referring to the huge profits the […]

My two cents on the eviction of OWS encampments.

Here are my two cents on the coordinated evictions of the OWS encampments. I totally support any resistance to the powers that be. I am a pacifist and hate violence but we are facing an enemy who was prepared to kill its own and people from other peaceful Nations living in the US in a […]

Oh shit, John Key is not going to like this: U.S. Is Set to Sue a Dozen Big Banks Over Mortgages

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation. The Federal Housing […]

Registrar: U K L Lee. Ukelele? Give me a break or why I have become a birther.

Yesterday, President Obama released his long form birth certificate. He did so by breaking in on all TV stations throughout the US. A measure of intrusion usually reserved for Calamities like say declaring the state of emergency in the case of 161 tornado’s killing hundreds of people and destroying entire areas of America’s infrastructure. As […]