Stacy Summary: Deutsche Bank being investigated for role in alleged credit derivatives manipulation. I don’t think the SFO has ever been able to successfully investigate a single major bank or hedge fund. Let’s see if they can find anything that might jeopardise the City’s role in global derivatives fraud.
  |
 |
 |
Stacy Summary: How long before Cameron and Osborne are following the script, “We will deal mercilessly with the speculators.” And after the UK, it’s France. But with respect to European nations, I mean, come on, Norway is on their list and not Switzerland?
|
|
|
Stacy Summary: Okay, Snoot, confess . . .
|
|
|
Stacy Summary: Arguments for maintaining the current Credit Default Swaps market argue that the ‘markets’ should be free. Strangely, the threat of a real market exchange on which to trade these instruments gets met with howls of rage. If the entire market as it is at present is mired with fraud and betting against what only what a few insiders know is hologram paper based on fictional exchange rates and fake assets, then I say bring in the prosecutors, the exchanges and the light of day.
|
|
|
Stacy Summary: Looks like a whole lot more financial chaos to come to Europe very soon.
|
|
|
Stacy Summary: The debt crisis morphs and grows.
|
|
|
Stacy Summary: More forensic examination of Goldman Sachs’ role during the days that its former Chief Executive, Hank Paulson, was bailing out the financial players. And for these neo-feudal times, here is the Daily Gulag from @adamc
Sophisticated counterparties like AIG are supposed to protect themselves, and have little chance for recovering damages. But now the American taxpayer has stepped in to make payments for AIG. U.S. taxpayers have a right to recover money paid out for derivatives on deals that include phony collateral.
|
|
|
Stacy Summary: Are you surprised? Negotiating privately with the banks?
Beginning late in the week of Nov. 3, the New York Fed, led by President Timothy Geithner, took over negotiations with the banks from AIG, together with the Treasury Department and Chairman Ben S. Bernanke’s Federal Reserve. Geithner’s team circulated a draft term sheet outlining how the New York Fed wanted to deal with the swaps — insurance-like contracts that backed soured collateralized-debt obligations….
Part of a sentence in the document was crossed out. It contained a blank space that was intended to show the amount of the haircut the banks would take, according to people who saw the term sheet. After less than a week of private negotiations with the banks, the New York Fed instructed AIG to pay them par, or 100 cents on the dollar. The content of its deliberations has never been made public.
|
|
|
Stacy Summary: I guess the faster this collapse happens the faster we get to the bottom. If there is a bottom. And it’s not like some black hole of CDS debt that will crush all that it encounters! What’s on your mind this morning? Have you love bombed the newsroom?
|
|
|
Stacy Summary: While the MSM headlines are of the dangerous peasant protestors, in the FT, more evidence emerges of weaponized financial products being deployed against nations. There is one sliver of good news to emerge from the bankers’ derivative and credit crime wave in the reduced carbon emissions as we see car sales and miles driven continue to plunge in the United States.
|
|
|
Posted in Headlines
Tagged cds, derivatives, fatal attraction debt collection, kazakhstan, us auto sales
Stacy Summary: We woke up at 4.45 this morning for this excellent interview with Jason Bermas. Max talked about Credit Default Swaps as a unit of currency collateralized by fraud. Financial Jim Crow laws which put the majority of investors, consumers & citizens at a disadvantage to the banking class. The incestuous relationship in the financial oligarchy has led to inbred and insane financial products.
Max then talks about PirateMyfilm. The divine right of hedge funds. An entire financial system that is a hologram and bankers threatening to pull the pin on the grenade of financial weapons of mass destruction unless we hand them money
Find this show forever at Archive dot org
|
|
|
Posted in Max Keiser Audio
Tagged cds, credit default swaps, financial jim crow, gold, max keiser, PirateMyFilm, us dollar
The Stacy Summary: Banks return to profitability thanks to Obama’s Marie Antoinette moment. Detroit told to ‘pound sand’ and more US taxpayer money went into the bankers black hole of market fraud.
|
|
|
Posted in Headlines
Tagged aig, auto bailout, bank heist, cds, credit default swaps, death of dollar, disinflation, downgrade, financial crisis, fort knox, gm, gold, goldman sachs, ireland, jp morgan, marie antoinette, max keiser, maxkeiser.com, obama, pension investment, racketeering, small business, spain, us auto industry, us dollar, yuan
Rick Ackerman
King World News Mish Karl Denninger – Market Ticker Michael Hudson ZeroHedge The Big Picture![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
Most recent: 
