The financial terrorists who have played fast and loose with the global economy over the last 30 years are facing a shit storm of their own making. It pays to remember that while they will try to make us responsible for their terroristic financial activities it is their crisis and they are losing the trillions […]
Tag Archives: Derivatives
Government: “We want you to give us a lump sum of your hard earned cash now. We will make it easy for you and print it out of thin air and you will pay us back with your tax dollar. We also want you to pay us say about 3% of your wages every month until you retire. We will put this money in a fund. We will call the fund you put this in Kiwi saver. A nice catchy name you can all identify with.
In fact we will make it easy for you. The moment you sign a labour contract your new employer will start the scheme straight away BUT no worries you can always opt out but really, only silly people do that!
We will appoint the financial specialists to invest your money for you. They are all banks or financial institutions of our choice and as you know banks and other big name financial institutions are reliable and will do their very best for you to get the best returns for you; the Kiwi saver!
You will not be told what they invest it in, when they invest it or who is really doing the investing.
These banks and financial institutions will charge a fee of course every time they invest or change from one to the other investment but that is to be expected! Don’t worry about those fees. You will only pay them at the end of your period of investing with Kiwi saver.
Here is the small print: You are the investor. You are responsible for your investments. If you lose money you will have less money in your account. If you lose the lot that is not our problem. You have been given the choice to invest conservatively, medium or high risk. Choose wisely even if we advice those of you under 35 to go high risk.
Theo Spiering should be reading blogs like mine. He would have been warned well in advance!
Remember those $112 Billion in derivatives on the NZ balance sheets I talked about a year or so ago? Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus […]
All we’re waiting for is interest rates to go across the magic threshold of 3% and the entire budget of the country explodes. There are also all types of other tendencies that point in the direction of collapse and systemic failure at all levels.” Dimitri Orlov. I couldn’t put my finger on it. Why would […]
In April 2012 I reported that New Zealand was accumulating Derivative swaps at an alarming rate. When I reported on this the amount of money in Derivatives was already an alarming $ 112 Billion and I have no reason to assume that is anything less as I write this. At the time Dr Sue Newberry […]
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 the 1th of October 2007 a bank opened in New Zealand. It wasn’t open for the general public and would only supply money for big stuff and the big boys. It’s name? JP Morgan Chase! I was announced in the MSM with the smallest of fanfare and I only picked up on it because […]
“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)
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 […]
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 […]