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BANKING & ECONOMY

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skipman
Member
#1786 | Posted: 27 Jan 2015 17:18
Reply 
Standard and Poors have downgraded Russia's credit rating to junk.

http://rt.com/business/226435-standard-poors-rating-junk/

the same firm who with other ratings agencies,who for a fee,gave triple A gradings to the mortgage backed securities fiasco.

When you ask these financial wizards how they can come up with these ratings, they talk about,product to consumer ratios. Calorific content of meat protein to the co efficient of vegetable dry matter intake. Which makes perfect sense in their world, but not mine.

Lets look at it pre "collateralized debt obligation swap mixed with a currency deferral" era.

You want to borrow some money. The main thing any lender wants to know is,no matter how much you want to borrow is. Do you already have any debts? How much is this in relation to your income and savings? Will the amount asked for effect the your ability to pay if there is an economic upset?

These questions apply to an individual,a company or a country.

When it comes to countries,their earnings is called the GDP(Gross Domestic Product) The amount of money it generates in one year.

If the country has a GDP of 100 billion and a debt of 10 billion,it has a debt to GDP of 10%. The lower the % the better, the higher,the more risky the loan will be and more likely to incur a higher charge for being lent that amount of money.

Just ask the people who go to pay day lenders i.e. Mr. Cameron's friends.

Therefore it would be logical,if you are a credit rating agency to give good scores to the people,companies and countries that have low debt to GDP and low scores to the higher ones. Yes? That is how it used to be.

http://www.tradingeconomics.com/country-list/government-debt-to-gdp

These figures are a year old, Russia is now 11%. Most of the E.U. countries are very high with some of them, including the U.S. in triple digits. Japan is an eye watering 227%

Still believe those credit agencies?
skipman
Member
#1787 | Posted: 29 Jan 2015 00:30
Reply 
skipman
Member
#1788 | Posted: 29 Jan 2015 16:42
Reply 
When, not if, the financial collapse comes. What system will replace it?
Certainly not one recommended by the banks or anyone else tainted by association with them.

Anyone heard of social credit?

http://www.socred.org/
skipman
Member
#1789 | Posted: 1 Feb 2015 19:53
Reply 
skipman
Member
#1790 | Posted: 1 Feb 2015 21:14
Reply 
Russia is buying lots of gold.

http://investmentwatchblog.com/more-russia-will-likely-sell-dollars-buy-gold-to-prote ct-ruble-as-message-to-us-goldcore-ltd/

China is doing the same.

Any time now someone is going to call for a delivery of gold from comex, instead of extending their contract.

When that happens all hell is going to blaze forth. The fraud will be exposed and the dominoes will tumble causing an earthquake amongst the financial community.

War is the only thing that can stop this house of cards from collapsing and Putin is not playing ball. So what else can TPTB pull off?
skipman
Member
#1791 | Posted: 12 Feb 2015 22:02
Reply 
It was reported last month that silver mine companies were in talks about with holding their silver from the market as the cost of production were not covered by the market price.

Just listened to radio 4's Bottom Line, gold producers are having the same problem.
Ten years ago one tonne of rock would produce 2.2 grams of gold. Now it is 1.1 grams, pushing the cost per ounce to $1,100. Something will have to give sooner or later.


Lots in the news about HSBC's Swiss arm helping those poor rich sods reduce their tax burden to the government.

I found it interesting that they did not mention HSBC's run in with the American authorities, when it was caught laundering drug money and got fined $1.9 billion.

They normally love raking over old coals.
skipman
Member
#1792 | Posted: 12 Feb 2015 23:20
Reply 
Here is a more in depth look into the HSBC story.

http://www.icij.org/project/swiss-leaks/files-open-new-window-182-million-halliburton -bribery-scandal-nigeria

Dick Cheney was about to be prosecuted till his firm did a DEAL.
skipman
Member
#1793 | Posted: 13 Feb 2015 00:07
Reply 
skipman:
It would be nice if this court case could be won but I doubt it?

The people of Canada are doing what the press is refusing to do. Making video's and posting them on you tube and face book. Good luck to them.

https://www.youtube.com/watch?v=9XzTSHlVfyU
skipman
Member
#1794 | Posted: 13 Feb 2015 00:14
Reply 
Australia's third largest banks has gone under. Oh that pesky Swiss Franc, or was it the short sellers?

http://www.zerohedge.com/news/2015-02-11/austrias-3rd-largest-bank-goes-full-bear-ste arns-ceo-blames-short-sellers-firms-demi
richunkle71
Member
#1795 | Posted: 13 Feb 2015 09:58
Reply 
skipman:
Just listened to radio 4's Bottom Line, gold producers are having the same problem.
Ten years ago one tonne of rock would produce 2.2 grams of gold. Now it is 1.1 grams, pushing the cost per ounce to $1,100. Something will have to give sooner or later.

Yeah man, it's shocking. So it takes 30 tonnes of crushed, then powdered rock, washed in cyanide, rinsed with acid just to make a Krugerrand ! How much longer can our beautiful planet sustain such environmental Armageddon for the greed of mankind... We're fucked up
skipman
Member
#1796 | Posted: 13 Feb 2015 15:19
Reply 
richunkle71:
So it takes 30 tonnes of crushed, then powdered rock, washed in cyanide, rinsed with acid just to make a Krugerrand ! How much longer can our beautiful planet sustain such environmental Armageddon for the greed of mankind... We're fucked up

If you asked a normal person,would they rather drink fresh water from a stream or have a nice shiny piece of gold. They would realise that the water would always be there, for them and their children. The gold would not.

The speculator would think, anyone turning down the gold offer was doolally. Obtain a court order to declare them non compos mentis. Evict them from the land,for not using it to its full potential. All in the name of progress but progressing to what?
skipman
Member
#1797 | Posted: 13 Feb 2015 21:28 | Edited by: skipman
Reply 
There is quite a ding dong between Labour and the Conservatives.

Labour is claiming that the government is treating its donors gently.
Conservatives are saying Gordon Brown set the tone by allowing generous tax breaks for the hedge fund managers. Where by they were claiming to pay less tax than their office cleaners.

Neither is getting to the heart of the problem,the tax office its self.

A whistle blower went to the Public Accounts Committee detailing that the Chief Executive Dave Hartnett was personally doing private deals with big companies about their tax obligations. Those deals were not in the public's interest.

An inquiry was held and Hartnett was chastised but not fired. He retired with a 1.7 million pound pension and went straight into a job with......HSBC.

No need to tell you what happened to the whistle blower.

http://www.scriptonitedaily.com/2015/02/09/the-breaking-hsbc-banking-scandal-reveals- uk-govts-role-as-chief-henchman-of-the-mafia-banking-system/

Now why are the Press not all over the continuing softly softly that the HMRC is showing to the wealthy in our society, compared to the screw turning inquisition mercilessly enforced on us?

There are some good articles to read on this site.
skipman
Member
#1798 | Posted: 13 Feb 2015 21:44
Reply 
Show this to your M.P. and he will come up with lots of reasons why it cannot be done here.

http://www.scriptonitedaily.com/2015/01/30/greece-vs-iceland-this-simple-comparison-p roves-austerity-is-morally-and-literally-bankrupt/

Iceland is a small country with a small economy. So is Greece in comparison with other E.U. countries.

They are on the periphary of the financial world we are at its heart. None payment of loans would be catastrophic,not only for us but the rest of the world. (Did you know Germany had all its debts forgiven in 1953 because the country was bankrupt? Look how well they are performing compared to the rest of the world now)
skipman
Member
#1799 | Posted: 16 Feb 2015 21:59
Reply 
An Animated explanation about the Greek debt and its consequence to the rest of the world.
Only eight mins

https://www.youtube.com/watch?v=VfNBNlZPig4
skipman
Member
#1800 | Posted: 16 Feb 2015 23:11
Reply 
You may be wondering why HSBC keeps cropping up in all these tax dodging and drug money laundering cases.

That was the whole reason its existence in the first place. It tendrils have spread far and the names involved at it inception are amongst the most prominent and wealthy today.

http://greatgameindia.com/hsbc-bank-secret-origins-to-2611-mumbai-attacks/

If you are interested in those leaked names who HSBC are helping to avoid tax.

https://offshoreleaks.icij.org/
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