Forget the hoHAR.... you have my authorization.... sans stipulation... to
use my HAR.... after all, I have taken a definite liking to your
"Banksters".....and use it frequently, in turn.....even swap.....
I've been looking for news on the Cyprus situation.... at this time
(3/24/2013), it appears that the EU has given the Cyprus GVNMT a final
bailout offer, which Cyprus has to agree to by Tuesday, next (or so, I
think). We will see where that goes... as I think I read, the Savings
Account tax is still in the deal.....
The banks investing in phony futures angle has not been reported in the
stories I've read.... that definitely puts a different spin on the mess.....
I like your closing comments and suggestions about criminal investigations
a lot.....Whether it is the Cyprus cops, the EU or even the British GVNMT
(if it gets involved somehow through a "currency" switch back to the
pound).... I definitely would like to see an in-depth investigation....
that has been ("wilfully"?) lacking in the debacle over here in the
U.S...... somebody somewhere should go after the criminals... I'd hope.
On Sunday, March 24, 2013 4:32:15 AM UTC-4, archytas wrote:
>
> Plenty of hoHAR on Cyprus Nom and little evidence as far as I can
> see. The cover story is Russian mafia, banks pumping money into high
> yield Greko-Zimbabwean rocking horse dropping futures (who would buy
> them - especially with Russian mafia money?) and hence big hole in
> bank balance sheets when the fictitious assets turn out to be - er -
> fictional. At least three major EU banks are involved to my
> knowledge. I suspect the Cyprus banks were made into a dead donkey
> graveyard by them. On the other side Cyprus government spending and
> debt is low against the EU average (80 odd v 93%). What sort of
> excuse is it that they invested unwisely in Greek bonds? You and I
> knew this was a piss poor certain loser even in a three-legged donkey
> race. It's the sort of bet we might have made with other people's
> money along with very large sacks of cash and new passports for us
> truly along with plane tickets out on the day we posted such.
> There must be trillions in rocking horse droppings around the world
> being dumped into unwitting banks - no one with half a brain would
> touch same - so it must be packaged like the AAA rated sub-primed
> securitised dead donkey futures of the past. So who has been doing
> the packaging? The old form favourites are the rating agencies and
> the likes of Godforsaken Sachs, HongBong Shanghai Clusterfuck,
> Narcoleys and Deutsche Jackboot - though maybe the Russian mafia
> deposited some sacks of the rocking horse droppings themselves via
> offers not to be refused, insisting on cash at notional value?
>
> My suggestion to Cyprus is to default, re-establish the pound and give
> their cops carte-blanche for a criminal investigation. We have almost
> no facts about this despite and probably because of the media fenzy.
> The thing about rocking horse droppings (apart from not being caught
> with one when the music stops) is that we can trace the origins.
> Evidence from a criminal enquiry could show us points of origination
> and lead to claims on the real assets of those who have profited from
> selling them. These could be used to pay down private household and
> some company and pension debt. hoHAR (patent pending)! I suspect
> the villains who really pulled off the scam that might have tempted us
> are now in Northern Cyprus or Londonistan - somewhere bags of cash get
> you good treatment.
>
> On Mar 19, 8:27 pm, nominal9 <[email protected]> wrote:
> > more eurozone bank news.....
> >
> > http://www.reuters.com/article/2013/03/19/us-eu-bankingunion-idUSBRE9...
>
> >
> > By John O'Donnell and Claire Davenport
> >
> > BRUSSELS | Tue Mar 19, 2013 2:53pm EDT
> >
> > (Reuters) - The European Union agreed on Tuesday to let the ECB police
> euro
> > zone <http://www.reuters.com/subjects/euro-zone> banks, taking its
> first
> > step towards a banking union just as a levy imposed on Cypriot savers
> > showed that the bloc will struggle to respond in a united way to bank
> > problems.
> >
> > The European Parliament and member states' representatives sealed an
> accord
> > reached late last year to give the European Central Bank (ECB) powers to
> > supervise euro zone banks from the middle of next year.
> >
> > That agreement had initially been applauded as a step towards
> integration.
> > But the surprise levy on Cypriot bank deposits agreed as part of the
> > country's bailout deal at the weekend has dented confidence that Europe
> > will be united in tackling bank problems rather than leaving countries
> to
> > struggle alone.
> >
> > "The deeply distressing problems faced by Cyprus show how insufficient
> this
> > step is in itself," said Martin Schulz, the German president of the
> > European Parliament, calling for an EU-wide scheme to close failing
> banks
> > and guarantee deposits.
> >
> > Under the deal, banks that have assets of 30 billion euros or more than
> > one-fifth of their country's economic output will be overseen by the ECB
> > rather than national supervisors.
> >
> > The ECB will also be allowed to intervene if it sees problems in smaller
> > banks as well, giving it the clout to trigger the closure of struggling
> > banks.
> >
> > Although designed chiefly for the 17 countries in the euro zone,
> non-euro
> > countries that sign up for ECB monitoring will be given equal rights of
> > representation in the system.
> >
> > Countries that wish to stay out such as Britain will also be given
> > protection from interference from the ECB through a special voting
> scheme
> > to be used when supervisors across the entire 27-member European Union
> meet.
> >
> > The agreement, which will later be rubber-stamped by all EU countries,
> will
> > also allow the European Banking Authority to conduct and publish annual
> > stress tests on banks, one EU official said.
> >
> > "This is a fundamental step towards a real banking union which must
> restore
> > confidence in the euro zone's banks," said Michel Barnier, the European
> > commissioner in charge of regulation.
> >
> > The next pillar of the banking union will be the creation of a central
> > system to close troubled banks and a fund to cover the costs, ensuring
> that
> > individual countries such as Cyprus or Ireland<
> http://www.reuters.com/places/ireland>are not left to shoulder these
> burdens alone.
> >
> > But the reluctance of Germany <http://www.reuters.com/places/germany>
> and
> > other economically strong countries to underpin such a fund will make it
> > hard to set up.
> >
> > Paul De Grauwe, an economist with the London School of Economics, said
> that
> > the levy to be imposed on Cypriot savers illustrated the lack of support
> > for pooling national resources.
> >
> > "This is almost a fatal blow to banking union," he said. "The one key
> > element of banking union is a system to help each other out and share
> the
> > cost when there is a banking crisis in one country. There is no
> willingness
> > to do that."
> >
> > LESSONS LEARNED
> >
> > Nicolas Veron of the Peterson Institute for International Economics
> think
> > tank in Washington said the Cypriot "default on insured deposits"
> > undermined efforts to establish a common euro zone approach to dealing
> with
> > failing banks.
> >
> > "Clearly we don't have a banking union yet, even if we will have single
> > supervision," he said. "Deposit guarantee is a central plank of that. I
> > hope that lessons will be learned from this episode."
> >
> > Without a fund or backstop to tackle problem banks wherever they arise,
> > there is little chance of breaking the "doom loop" that can drag banks
> and
> > governments down together.
> >
> > A separate pledge by euro zone leaders to enable the bloc's rescue
> > mechanism to directly recapitalize struggling banks once the ECB has
> taken
> > on supervision also appears to be unraveling.
> >
> > Again, euro zone paymaster Germany is worried it could be forced to foot
> > the bill for struggling banks across the region.
> >
> > Finland, the Netherlands and Germany want any banking problems that
> arise
> > before the ECB takes over as supervisor to be disqualified when it comes
> to
> > applying for assistance from the European Stability Mechanism.
> >
> > The new role of bank supervisor for the ECB has worried some at the
> central
> > bank, who fear it will interfere in its work as guardian of monetary
> policy.
> >
> > Such a conflict of interest would arise if the ECB were to keep interest
> > rates low in order to help struggling banks that it is also responsible
> for
> > supervising.
> >
> > Dutch ECB policymaker Klaas Knot expressed his reservations on Tuesday.
> >
> > "Quite frankly, if we have arrived in the European Union in quieter
> waters,
> > let's say 10 years down the road or so, I would clearly be open to
> > re-evaluating this decision, because there continues to be a fundamental
> > tension between monetary policy responsibilities and supervisory
> > responsibilities."
> >
> > (Additional reporting by Robin Emmott in Brussels and Paul Carrel in
> > Frankfurt; editing by Ron Askew and Rex Merrifield)
> >
> >
> >
> >
> >
> >
> >
> > On Tuesday, March 19, 2013 4:18:44 PM UTC-4, nominal9 wrote:
> >
> > > Here's a follow-up on the Cyprus bank situation.... it appears to have
> > > been staunched..... W/O levies on accounts....
> >
> > >http://www.ft.com/cms/s/0/b790219a-909b-11e2-a456-00144feabdc0.html#a...
>
> >
> > > On Monday, March 18, 2013 11:18:48 AM UTC-4, nominal9 wrote:
> >
> > >> Enormous political import... and such.....here's a link to some more
> > >> skulduggery in the U.S. financial system....
> >
> > >>http://www.bloomberg.com/news/2013-03-17/sac-s-plotkin-said-to-have-b...
>
> > >> The more of these "criminals" they catch and put away, the better, I
> > >> think....
> > >> Also heard a breaking story about a run on Cyprus Banks....
> >
> > >>http://www.reuters.com/article/2013/03/18/us-cyprus-parliament-idUSBR...
>
> > >> Taxing bank accounts..... I mean... it isn't all that novel, is it
> > >> Archytas?... happens all the time in the U.S., right?.... maybe you
> can
> > >> explain the actual issue....was a time when folks put their money in
> > >> Switzerland to evade taxes, but I thought those days were over for
> the
> > >> "Euro-zone"... due to new regulations... maybe not?
> >
> > >> On Sunday, March 17, 2013 5:31:44 PM UTC-4, stephenk wrote:
> >
> > >>> Skype is good for me too... Microsoft's pathetic version of
> Hangout...
> > >>> ;-)
> >
> > >>> On 3/17/2013 3:49 PM, archytas wrote:
> > >>> > Suspected you meant something similar Stephen - I use Skype to do
> this
> > >>> > - though mostly for work purposes. I wouldn't be averse.
> > >>> > On matters of enormous political import like whether the UK should
> be
> > >>> > in the EU I note the net cost per capita for being in is �74 -
> about
> > >>> > the same as a decent meal with wine for me and Sue. Nearly all
> this
> > >>> > is spent on farming or 'growth initiatives' (previous area of
> personal
> > >>> > expertise and I know to be entirely useless). I find it
> impossible to
> > >>> > get too excited about the equivalent of one night out. If the
> > >>> > Eurocrats can kick up all the bother some allege at this price
> they
> > >>> > may have a model for world revolution! I should no doubt hangout
> > >>> > more.
> >
> > >>> > On 17 Mar, 06:22, "Stephen P. King" <[email protected]>
> wrote:
> > >>> >> Ummm FYI:http://www.google.com/+/learnmore/hangouts/
> >
> > >>> >> On 3/16/2013 2:37 PM, nominal9 wrote:
> >
> > >>> >>> I'm probably not much younger than Archytas.... I may be
> > >>> >>> older....."Hangout".... I remember the term from my youth in the
> > >>> >>> sixties/seventies.....I take it you mean a face to face
> meeting....
> > >>> >>> kind of hard for me.... I rarely get to London....I may have
> been
> > >>> >>> there once at an airport awaiting a connecting flight.... and
> then I
> > >>> >>> was still a kid.... in the sixties (like I said)....besides,
> > >>> >>> personally, I am not much of a social person, myself....
> Archytas
> > >>> (as
> > >>> >>> a British person).... is probably much more
> "gregarious"...(HAR)....
> > >>> >>> good for him...
> > >>> >> --
> > >>> >> Onward!
> >
> > >>> >> Stephen
> >
> > >>> --
> > >>> Onward!
> >
> > >>> Stephen
>
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