sabato 18 aprile 2015

The trick and the fix for mega banks balances

A graph exposing the bank accounting problem

lunedì 28 luglio 2014

The Shadow Banking System: a Great Time Bomb

  ECONOMY  
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The Shadow Banking System is a Great Big Ticking Time Bomb


The rules of money and banking have changed every 20 or 30 years — now is the time for an overhaul.

Photo Credit: Shutterstock.com
 
 
One thing to be said for the women now heading the Federal Reserve and the IMF: compared to some of their predecessors, they are refreshingly honest.The Wall Street Journal reported on July 2nd:
Two of the world’s most powerful women of finance sat down for a lengthy discussion Wednesday on the future of monetary policy in a post-crisis world: U.S. Federal Reserve Chairwoman Janet Yellen and International Monetary Fund Managing Director Christine Lagarde. Before a veritable who’s-who in international economics packing the IMF’s largest conference hall, the two covered all the hottest topics in debate among the world’s central bankers, financiers and economists.
Among those hot topics was the runaway shadow banking system, defined by Investopedia as “The financial intermediaries involved in facilitating the creation of credit across the global financial system, but whose members are not subject to regulatory oversight. The shadow banking system also refers to unregulated activities by regulated institutions.” Examples given include hedge funds, derivatives and credit default swaps.

ECB website hacked

ECB website hacked, data stolen

The ECB was the victim of attempted blackmail by hackers. [Jurjen van Enter/Flickr]
The European Central Bank (ECB) said on Thursday its website had been hacked and some email addresses and other contact information stolen but insisted no market-sensitive data were affected.
The theft came to light after the central bank received an anonymous email on Monday night demanding money in exchange for the addresses.
While most of the data was encrypted, parts of the database included email addresses, some street addresses and phone numbers that were not encrypted. The database also contains data on downloads from the ECB website in encrypted form.

sabato 12 luglio 2014

Former IRS Special Agent: An Hour With Attorney Bernhoft

Former IRS Special Agent Brings You An Hour With Attorney Robert Bernhoft
 
Dear Friends,
 
You don't want to miss the Agent For Truth radio show this Saturday, July 12th, 2014 on the Truth Frequency Radio Network at high noon central time.
 
This Saturday morning will feature my interview with Robert G. Bernhoft, founder of the Bermhoft Law Firm.  Bob joined Jeffrey Dickstein in successfully defending me in my 2005 criminal trial and Bob defended Actor Wesley Snipes who achieved acquittal on all felony counts.  Bob will share very valuable information about IRS and overall government misconduct and other insights that only an experienced trial attorney can share.
 
Be sure to visit http://www.ninehundred.net/banister/bernhoft.html to read more about the "parallel construction" phenomenon.
 
Don't miss this important show but please remember that the interview with Mr. Bernhoft was pre-recorded and therefore this show is a no-caller show. During live Saturday morning broadcasts, you can call the show at 1-866-378-7884 (1-866-37-TRUTH) to ask a question or make a comment.
 
I hope you will join me this Saturday morning from 10:00 am to 11:00 am pacific time by clicking on the "Listen Now Live" button on the right-hand side of the Truth Frequency Radio Network website.
 
Don't forget that I do have a "Twitter" account for those who prefer that particular method of communicating.  My twitter account concentrating primarily on current events and government corruption, tax matters and attacks on our Constitution and Bill of Rights is @josephbanister.  My twitter account concentrating primarily on spiritual matters and miscellaneous topics is @joebanister.
 
Inviting others to join my email list on the right-hand side of my web page or follow me on "Twitter" is encouraged and appreciated.  You can view a sample of prior newsletters here.

Kind regards,
Joseph R. (Joe) Banister
Former IRS Criminal Investigation Division Special Agent

II Chronicles 7:14:
And my people, upon whom my name is called, being converted, shall make supplication to me, and seek out my face, and do penance for their most wicked ways: then will I hear from heaven, and will forgive their sin and will heal their land.

Exodus 20:7:
Thou shalt not take the name of the Lord thy God in vain: for the Lord will not hold him guiltless that shall take the name of the Lord his God in vain.

Matthew 5:27-28:
You have heard that it was said to them of old: "Thou shalt not commit adultery".  But I say to you that whosoever shall look on a woman to lust after her hath already committed adultery with her in his heart.

John 6:51-52:
I am the living bread which came down from heaven.  If any man eat of this bread, he shall live forever; and the bread that I will give, is my flesh, for the life of the world.

George Orwell, 1984:
"You are a slow learner, Winston," said O'Brien gently.
"How can I help it?" he blubbered. "How can I help seeing what is in front of my eyes? Two and two are four."
"Sometimes, Winston. Sometimes they are five. Sometimes they are three.
Sometimes they are all of them at once. You must try harder. It is not easy to become sane."

giovedì 10 luglio 2014

Russia writes off $32bn Cuban debt

Russia writes off $32bn Cuban debt in show of brotherly love

Agreement, which stipulates that Cuba must still repay $3.2bn over 10 years, comes as President Vladimir Putin prepares for Havana trip. The Moscow Times reports
Revolutionary leader Fidel Castro (L) with Russia's President Vladimir Putin in 2000 in Havana. Putin is due to arrive in Cuba of Friday for his latest visit. Photograph: Adalberto Roque/EPA
Revolutionary leader Fidel Castro (L) with Russia's President Vladimir Putin in 2000 in Havana. Putin is due to arrive in Cuba of Friday for his latest visit. Photograph: Adalberto Roque/EPA

Russia's parliament has ratified an agreement that will see Moscow write off 90% of cash-strapped Cuba's $35.2bn debt to the Soviet Union, according to the Russian news agency ITAR-Tass.
The agreement, which both countries signed in October 2013, draws a line under a two-decade-long quarrel. It stipulates that Cuba must pay back $3.2 billion over a 10 year period in exchange for Russia forgetting about the remaining $32 billion.

BRICS to launch World Bank competitor

BRICS to launch World Bank rival next week: Russia

Leaders of the BRICS nations will launch their long-awaited development bank at a summit next week and decide whether the headquarters should be in Shanghai or New Delhi

Related Articles

Leaders of the BRICS nations will launch their long-awaited development bank at a summit next week and decide whether the headquarters should be in Shanghai or New Delhi, Russian finance minister Anton Siluanov said on Wednesday.
The creation by Brazil, Russia, India, China and South Africa of a $100-billion bank to finance infrastructure projects has been slow in coming, with disagreements over its funding, management and headquarters.
“The (headquarters) issue will be decided on the level of the heads of the countries,” Siluanov told journalists, adding that the choice is between Shanghai and New Delhi. BRICS leaders will meet July 15-16 in the Brazilian coastal city of Fortaleza.

mercoledì 9 luglio 2014

The Federal Reserve is an unlawful organization

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What is the Federal Reserve? – Part 3

federal-reserve-bank-dc

What is the Federal Reserve? – Part 3

… by Marilyn MacGruder Barnewall,    Global Financial Affairs Editor

July 8, 2014

An old saying tells us, “A rose by any other name is still a rose.


"Something's happening inside"
“Something’s happening inside”
Unfortunately, the same cannot be said about the Federal Reserve System. First, most people refer to it as the Federal Reserve Bank. It is not a bank. It is a system. Second, the Federal Reserve System is not federal.
It is a privately held corporation owned by bankers… most of whose names are seen on Wall Street (though international banks now own larger and larger shares of the Federal Reserve System, placing control of America’s economy in the hands of non-American foreigners).
Before talking about what the Federal Reserve System does, one other important fact needs to be mentioned: The Federal Reserve is an unlawful organization. Let’s take a look at the Constitution of the United States.
Article 1 Section 8 of the Constitution says the following:
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
To establish Post Offices and Post Roads;
To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;
As you can see, THE CONGRESS, not the Federal Reserve System, “shall have the Power to lay and collect Taxes, Duties, Imposts (which means taxes) and Excises” (taxes on consumer goods). Article 1 Section 8 says THE CONGRESS, not an organization called the Federal Reserve, is to coin Money, regulate the Value thereof, and of foreign Coin.”
When the people of America want to change the Constitution, how do they do it?

Bank of Cyprus depositors prepare for share-sale blow

Bailed-in Bank of Cyprus depositors prepare for share-sale blow
http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_04/07/2014_541099

By Georgios Georgiou and Nikos Chrysoloras

Less than a year after the conversion of almost half their deposits over 100,000 euros ($136,000) into equity, Bank of Cyprus Pcl shareholders face another potential blow as the lender weighs a stock sale.
The board of directors of the Mediterranean nation’s biggest bank convenes for a second time in two weeks on Friday to decide on a capital increase of at least 1 billion euros, following an ultimatum issued on July 1 by the governor of the central bank, Chrystalla Georghadji.
Shareholders fret their stakes will be diluted, especially if the stock is sold at a low price and they lack the time to gather enough cash to participate in the offering, said a senior Bank of Cyprus official who asked not be identified because the discussions with investors are private.