http://www.fraudaid.com/dictionary-of-financial-scam-terms/
Here's a website that caught my fancy.... looks like it could be useful as a primer.... On Friday, April 5, 2013 5:53:31 PM UTC-4, archytas wrote: > > It's simpler than we might suppose Nom. There are a number of cash > systems in which to lose money - the hawala systems - various names - > 'ching' around Hongkong. I put cash in here and can collect (less > commission) more or less anywhere. In the banks I might put the money > in here, send it to Cayman and from there New York - the banks are > bent on such transfers and someone in NY would recode the Cayman money > before sending it to you. One technique is to starburst cash to > hundreds of points. Somewhere the stuff has to go through a blocked > point that can send the cops a 'none of your business' ticket due to > jurisdiction failure. I might buy US property (your estate agents are > not subject to money-laundering legislation) and hen borrow on that > property. I might even set up a false legal claim against you, pay > the fees and call off the case, recollecting the cash from the bent > lawyers. You might buy a load of gizmos from me, but I buy with bent > money, ship to you and then collect the cash you raise - all less > commissions of course. Simple smuggling is still very common. > People with Swiss bank accounts are now running scared. They take out > the cash in Zurich and get it smuggled back to them as gold through > the drug-running monetary system. I doubt you or I would trust > druggies to carry $50 dollars of our money - which rather suggests > these rich are in league with organised crime - otherwise no trust to > do this stuff. > > I could crack any of these schemes as a cop - much as we used to use > test purchase scams to catch drug-dealers - but most of them are legal > or 'protected'. In a typical transfer pricing scam we send our > profits abroad where all the money is "lost" in non-existent > management costs - the cash stays offshore but we claim a tax loss > here (UK or US). This is theft. Given the use of offshore like this > is claimed to reduce costs I doubt any jury would not convict for > theft - but no judge would let them hear the real story - the > management would claim to operate in Delaware. > McKinsey just estimated $32 trillion are held in this system. I > suspect secret services know about all of it and have a vested > interest in not exposing it via criminal trials. This may be about to > change as they erase the tracks to their involvement. > > On shorting I also suspect the simple explanation it is done through > insider knowledge rather than the claimed alpha intelligence. > > On Apr 4, 3:47 pm, nominal9 <[email protected]> wrote: > > http://en.wikipedia.org/wiki/Short_%28finance%29 > > I basically get the notion of "selling short"......but, there too, there > is > > a paper trail (identity of scam and scammers). Ultimately, it gets to a > > question of an outside "third party" being asked to pay the > > difference.....that's the scam....(you know that as well as [better] > than > > I).....If "some" folks care to gamble... they should do it with their > own > > money.... or shares....and pay their own difference... or be "punished" > if > > they renege....I mean, that's the "ideal" form of the deal, isn't > it?.... > > Banks or money reservoirs should be regulated to that effect....Where's > the > > "flaw" in the "ideal", I ask you? > > > > > > > > > > > > > > > > On Thursday, April 4, 2013 10:17:49 AM UTC-4, nominal9 wrote: > > > > > I like your scam scenario explanation.... it sounds "verisimilar" (one > of > > > those big words I like to show off with every now and then... heck, if > I > > > had to learn it, I might as well use it, right?). > > > > > You know that I am "specific naive" when it comes to financial terms > and > > > "instruments"... but can you explain to me why it is that the actual > > > "thieves" and scammers get (identity) lost in the "shell game", > doesn't > > > each piece of debt paper or transaction (is supposed to) have a name > on it? > > > > > On Wednesday, April 3, 2013 5:20:17 PM UTC-4, archytas wrote: > > > > >> That's about the half of it Nom. We might know more about how Cyprus > > >> was looted by the end of next week and who is really paying. I > > >> predict the hot money will turn out to have gone in the months > before, > > >> the take over of Cyprus banks in Greece (done in all haste preventing > > >> due diligence before the crash and leaving bad Greek debt in Cyprus) > > >> may prove to have been an unload of RHD by foreign banks. British > > >> banks have unloaded half their exposure to Greece in the last three > > >> years - raising questions about who bought the magic beans and at > what > > >> price (if they had to sell low - I guess hey must as you and I would > > >> have been smart enough not to buy the RHD - then where are the write- > > >> offs) and whether any investment packages they were in were sold > > >> honestly. I'm inclined to think Cyprus is no accident and the > > >> banksters may be able to manipulate such crashes. Whilst w wouldn't > > >> buy the magic beans from each other (scared of giants as we are), I > > >> suspect the deal runs more like this: > > > > >> Neil: Nom - I have an offer you can't refuse. > > >> Nom. Screw you limey. > > >> Neil. Peace brother, we'll both make a killing. Switch to the > > >> scambler (no typo) phone. Buy as much eu periphery rocking horse > shit > > >> as you can find. You should get it at 10 cents on the dollar. I'll > > >> give you 80 for it all. > > >> Nom. Good deal for me, what's your cut? > > >> Neil. We'll go 50:50 on the net after we pay off Pedro. > > >> Nom. What's Pedro got to do with this? > > >> Neil. He runs the Spanish bank buying the rocking horse shit. When > > >> Spain goes down the toilet holding all the losses he'll throw in the > > >> incompetence joker while we sort him with a new identity and a sack > of > > >> cash to soothe his conscience over the small matter of bankrupting > his > > >> fellow countrymen. > > >> Nom. I love these crimes where no one gets hurt. How much will the > EU > > >> and depositor bail in be on this one? > > >> Neil. $250 billion. We'll go short on Spain. Italy, Luxembourg and > > >> the Netherlands to pick up on the death-throes of the EU > > > > >> The actual fraud network will be a bit more complex and our secret > > >> services will be involved. Do you know where Dr. No's island is? > > > > >> On Mar 27, 5:28 pm, nominal9 <[email protected]> wrote: > > >> >http://www.bbc.co.uk/news/business-21948429 > > > > >> > Major UK banks must raise a total of £25bn in extra capital by the > end > > >> of > > >> > 2013 to guard against potential losses, the Bank of England (BoE) > has > > >> said. > > > > >> > In a statement< > > >>http://www.bankofengland.co.uk/publications/Pages/news/2013/013.aspx>, > > > >> > the BoE's Financial Policy Committee (FPC) said only some banks > need to > > >> > raise the cash, but did not name them. > > > > >> > It said banks could face losses of about £50bn over the next three > > >> years, > > >> > relating to bad loans and fines. > > > > >> > The order is the first from the FPC, the new financial stability > > >> regulator. > > > > >> > It said UK banks and building societies could lose billions of > pounds > > >> over > > >> > the next three years relating to "high-risk" loans in the UK > commercial > > >> > property sector and vulnerable eurozone economies. > > > > >> > They may also lose money through fines, and require extra capital > to > > >> > support a "more prudent approach to risk". > > > > >> > Some banks already have enough capital to cover these costs, the > FPC > > >> said, > > >> > but others are short. > > > > >> > Yet more money may need to be raised after the end of 2013, the FPC > > >> warned, > > >> > so that banks conform to incoming "Basel III" accords on banking > > >> regulation. > > >> > Shares mixed > > > > >> > No new government money will be required. Banks are likely to raise > the > > >> > funds by issuing more bonds or selling shares. > > > > >> > But BBC business editor Robert Peston says in the short term the > need > > >> to > > >> > raise cash will be bad news for investors, including taxpayers who > > >> still > > >> > own big stakes in two banks - Royal Bank of Scotland and Lloyds. > > > > >> > If these banks are among those that need to raise more capital, it > may > > >> > delay plans to sell the stakes back to private investors. > > > > >> > In a statement RBS insisted it had "a strong capital position". > > > > >> > "We will continue to work with our regulators to ensure RBS remains > at > > >> the > > >> > forefront of international capital standards," it said. > > > > >> > However, by midday RBS shares were down 3%. > > > > >> > Other bank shares reflected a mixed response to the FPC's > announcement. > > >> > Shares in Lloyds were up more than 1.6%, while HSBC and Barclays > were > > >> both > > >> > down by about 0.5%. > > > > >> > The British Bankers' Association, the banking trade body, described > the > > >> > FPC's report as "the latest step in an ongoing discussion between > the > > >> UK's > > >> > banks and their regulators" about the levels of capital they should > be > > >> > holding. > > > > >> > It said raising capital levels needed to be done in such a way as > to > > >> > support growth. > > >> > Sustaining lending > > > > >> > The FPC said capital raising measures were also designed to ensure > that > > >> > banks were able to continue lending to businesses and each other, > > >> should > > >> > another banking crisis hit. > > > > >> > The extra capital was needed "to ensure sufficient capacity to > absorb > > >> > losses and sustain lending", the FPC said. > > > > >> > The FPC has overall responsibility for financial regulation in the > UK > > >> and > > >> > is part of a new order of regulation designed to keep the banks > under > > >> > closer scrutiny. > > > > >> > It will oversee two new financial watchdogs: the Prudential > Regulation > > >> > Authority (PRA), which will take over responsibility for > supervising > > >> the > > >> > safety and soundness of individual financial firms, and the > Financial > > >> > Conduct Authority (FCA), which will be tasked with protecting > consumers > > >> and > > >> > making sure that workers in the financial services sector comply > with > > >> rules. > > > > >> > The new watchdogs will replace the Financial Services Authority > (FSA), > > >> > which is set to close next week. > > > > >> > On Tuesday, March 26, 2013 11:18:57 AM UTC-4, nominal9 wrote: > > > > >> > > Bail-Ins instead of Bail-Outs....there you go.... > > > > >> > > somebody's finally thinking.... contrary logic.... > > > > >> > > HAR HAR HAR HAR. > > > > >> > > I like it.... > > > > >> > > the U.S. should go back and "bail in" the Wall Street banks and > > >> trading > > >> > > firms..... > > > > >> > > > http://www.reuters.com/article/2013/03/26/eurozone-banks-bailouts-idU... > > > > >> > > Cyprus rescue marks "game-changer" for Europe's banks > > > > >> > > - > > >> > > - inShare > > >> > > - Share this > > >> > > - > > >> > > - Email > > >> > > - Print > > > > >> > > Related News > > > > >> > > - Global shares, euro checked by Cyprus bailout nerves< > > >> > http://www.reuters.com/article/2013/03/26/us-markets-global-idUSBRE88...> > > > > >> > > 9:17am EDT > > >> > > - WRAPUP 10-Cyprus leader hails bailout, but banks stay > closed< > > >> > http://www.reuters.com/article/2013/03/25/eurozone-cyprus-idUSL5N0CH0...> > > > > >> > > Mon, Mar 25 2013 > > >> > > - Shares, euro retreat as Cyprus deal stirs unease< > > >> > http://www.reuters.com/article/2013/03/25/us-markets-global-idUSBRE88...> > > > > >> > > Mon, Mar 25 2013 > > >> > > - Analysis: Cyprus rescue raises new questions about euro's > > >> long-term > > >> > > survival< > > >> > http://www.reuters.com/article/2013/03/25/us-eurozone-cyprus-contagio...> > > > > >> > > Mon, Mar 25 2013 > > >> > > - Cyprus and EU agree draft proposal to rescue banks< > > >> > http://www.reuters.com/article/2013/03/24/us-cyprus-parliament-idUSBR...> > > > > >> > > Sun, Mar 24 2013 > > > > >> > > Analysis & Opinion > > > > >> > > - One-off or precedent?< > > >>http://blogs.reuters.com/macroscope/2013/03/26/one-off-or-precedent/> > > >> > > - The Dijsselbloem Principle< > > >> > http://blogs.reuters.com/felix-salmon/2013/03/25/the-dijsselbloem-pri...> > > > > >> > > Related Topics > > > > >> > > - Investing and Taxes Simplified »< > > >>http://www.reuters.com/subjects/investing-simplified> > > >> > > - Financials » <http://www.reuters.com/sectors/financials> > > > > >> > > By Steve Slater > > > > >> > > LONDON, March 26 | Tue Mar 26, 2013 10:13am EDT > > > > >> > > (Reuters) - If the bailout of Cyprus is a template for European > > >> rescue > > >> > > deals it marks a "game-changer" for banks that > > > > ... > > > > read more » > -- You received this message because you are subscribed to the Google Groups "Epistemology" group. 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