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BANKING & ECONOMY

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skipman
Member
#1951 | Posted: 25 Sep 2016 20:00 | Edited by: skipman
Reply 
Kozmik:
we are only interested in further enrichment of our good selves, at the expense of yourself and your fellow mugs sorry customers.

How true Kozmik. You will love reading or watching this.

http://www.democracynow.org/2016/9/23/sen_warren_calls_for_wells_fargo

The staff of wells fargo were directed to open phoney accounts and credit cards in customers names without their knowledge. The CEO knew it was going on for years and did nothing about it(guilty after the fact) and he made over $200 million dollars from it. Over 5000 staff were sacked and the company fined $185 million. The people who made the money were not fined or prosecuted.

The world's economic climate being as it is, banks can only make a profit from fraud, this is why the economy will never recover. Worth a watch.

http://www.washingtonsblog.com/2016/09/top-bank-fraud-expert-big-banks-profits-come-f raud.html
skipman
Member
#1952 | Posted: 25 Sep 2016 23:43
Reply 
We all know politicians lie but what happens if Merkel keeps her word?

http://www.govtslaves.info/merkel-rules-out-bailout-for-deutsche-bank-depositor-bail- in-coming-up/
skipman
Member
#1953 | Posted: 3 Oct 2016 15:57
Reply 
skipman
Member
#1954 | Posted: 3 Oct 2016 17:24
Reply 
Two Spanish banks are in financial trouble,again.

How does the government save them?

Simple,merge the two together so they become To Big To Fail.

But do not let the people who will have to pay for it all, find out.

http://wolfstreet.com/2016/10/01/stealth-bailout-merger-bankia-banco-mare-nostrum-spa in/
skipman
Member
#1955 | Posted: 6 Oct 2016 22:59
Reply 
I posted a while back about Italy's oldest bank being in trouble. it is still in trouble but someone is making money out the mess. Care to guess who?

http://wolfstreet.com/2016/10/04/rescue-of-italys-monte-dei-paschi-gets-dark-complica ted/
skipman
Member
#1956 | Posted: 7 Nov 2016 11:55
Reply 
Top E.U. officials who have left their posts still get paid even when they take up well paid jobs later.Usually with the big banks

https://www.rt.com/op-edge/365432-keiser-barroso-eu-banks/
nordsee220
Member
#1957 | Posted: 7 Nov 2016 14:08 | Edited by: nordsee220
Reply 
These are my own thoughts. For guidance you should seek the advice of a finance professional.

40,000 TESCO accounts hacked

20,000 customers have lost money but they'll be reimbursed in most cases.

http://www.telegraph.co.uk/business/2016/11/07/tesco-bank-to-freeze-customer-transact ions-after-hacking-attack/

Incidentally, you probably know that your money is safe in a bank because it's backed by the Financial Services Compensation Scheme guarantee.

What you probably don't know is that the FSCS fund is not unlimited that is, it does have a limit.

The FSCS reimbursement limit is currently 75,000 per customer per banking institution. That figure was cut from 85,000 in 2015.

So if the guarantee is that good and your money is that safe, WHY did they cut the maximum reimbursement limit?

Answer: Because the money to reimburse everyone simply doesn't exist. In 2013, the fund stood at 4 billon. http://www.fscs.org.uk/industry/funding/ That's four thousand million pounds a lot of money but if you take say 35 million account holders that figure works out at just 114.28p per person sat in the compensation fund.

OK, not many people have 75k in the bank but in the event of a huge financial collapse and everyone wanting just their wages, mortgage money, gas bill money, shopping money reimbursed then the fund could let you down badly. Take into account that if the fund is squeezed really hard, people would possibly be reimbursed pro-rata, ie; you'd get back a percentage of what you had, some could be lucky to receive more than a few quid.

Let's say only 10% of the banks went bust (one in ten) and 3.5 million customers lost their savings/deposits. The fund of 4 billion could then pay out an average of just over a grand - a huge 1142.86 per person.

Do you STILL feel protected?

One or two last thoughts: If the FSCS money is in a bank (after all, they're not going to keep it in a suitcase or under the bed) what if THAT bank goes belly up?

As many people have an active overdraft, loan or other credit agreement ie; they owe the bank money, I'd imagine that amount would be deducted from any compensation they'd be entitled to receive for loss of savings.
nordsee220
Member
#1958 | Posted: 10 Nov 2016 13:31 | Edited by: nordsee220
Reply 
SHOCK AS INDIA BANS BANKNOTES REPRESENTING 85% OF PAPER CURRENCY IN CIRCULATION

"Hey Presto! INDIABANKROBDYA! Now you see it, now you don't." One of the easiest tricks in the book.

But it's ok. They say it's only going to hit tax evaders and those holding illegal amounts of cash.

A test case, methinks....

http://www.bbc.co.uk/news/business-37919292
Kozmik
Member
#1959 | Posted: 10 Nov 2016 18:18
Reply 
Heard on bbz radio an Indian customer actually say, " Guvmint is doing right thing. If this makes my money safer, I will stand in this queue all day"
Absolutely unbelievable, but that's bbz news for you.
I only listen to it for a laugh and I get plenty of those! Any Questions and Question Time are equally as funny these days too.
nordsee220
Member
#1960 | Posted: 10 Nov 2016 19:18
Reply 
Kozmik:
Question Time

Or as I call it, "Questionable Time".

Psst, I wanna tell ya a story. About 5 years back I was in RDH's house and we decided to phone Auntie to go see Questionable time at the City Hall, Newcastle on Tyne. Richard phoned and asked about tickets but they were all booked and so he asked if it might be possbile to see Mr Dribblebee and the other actors when they exited.
We were told no, that the show was recorded earlier in the day so as to let the audience get home at a reasonable hour and they couldn't give us a time.

My question to the panel would have been, if it's recorded then how on earth, short of having a time machine, do they discuss comments twitted, twatted, emailed, faceblanked or otherwise texted to the show about the subjects being discussed?

But then I'm an awkward little shit!

More smoke and mirrors!
skipman
Member
#1961 | Posted: 10 Nov 2016 22:06
Reply 
nordsee220:
if it's recorded then how on earth, short of having a time machine, do they discuss comments twitted, twatted, emailed, faceblanked or otherwise texted to the show about the subjects being discussed?

Have you been given an answer to that question nordsee?
skipman
Member
#1962 | Posted: 18 Nov 2016 11:51
Reply 
Kozmik:
Heard on bbz radio an Indian customer actually say, " Guvmint is doing right thing. If this makes my money safer, I will stand in this queue all day"
Absolutely unbelievable, but that's bbz news for you.

I wonder if he is still of that mind?

http://www.zerohedge.com/news/2016-11-17/indian-economy-grinds-halt-after-cash-ban-de monetisation-has-shaken-our-faith-moneta

Other than the initial report when this mad scheme was initiated there has been little to no follow up on the fall out. Care to make a guess why?
skipman
Member
#1963 | Posted: 19 Dec 2016 23:40
Reply 
skipman
Member
#1964 | Posted: 20 Dec 2016 00:25
Reply 
How long before what is starting in other countries,starts here?

There were rumours that the bank was about to be nationalised,which the government denied,then four days later....

http://www.blacklistednews.com/Ukraine_Nationalizes_Its_Largest_Bank%2C_Which_Holds_3 6%25_Of_All_Domestic_Deposits/55863/0/38/38/Y/M.html
skipman
Member
#1965 | Posted: 21 Dec 2016 20:09
Reply 
The Italian bank was supposed to be partially bailed out by a Quatari investment firm plus some other investor but it has not happend. Cue the call for the Italian government.
to raise their borrowing by Twenty Billion Euros.

In other words they want the tax payers to sort out the banks problems. Back to privatising the profits and socialising the losses.

Also Goldman Sachs HSBC and others have been found guilty of fixing the price of silver.

Both the above have not been mentioned in the news,guess they do not want it to upset peoples Christmas.

One item that did make the news.

http://www.express.co.uk/finance/city/746003/CITY-Banks-fined-RBS-Barclays-rate-riggi ng-probe
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