Bulls, Bears & Bucks #57: ING 793 miljoen verlies & Duitse 'bad-bank'

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Op maandag 11 mei 2009 18:38 schreef Dinosaur_Sr het volgende:

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eigenlijk wist ik al zonder te scrollen waar dit bericht vandaan kwam

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Op maandag 11 mei 2009 18:57 schreef pberends het volgende:

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http://www.marketoracle.net/Article10575.html

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Hitler’s freedom from International Debt Slavery

It is always difficult to have a discussion on the topic of WW II Germany, and Hitler, without having emotions run high.And Understandably so. We do not believe that there is a world plot in place by those of the Jewish faith to dominate the world. We do however suspect that there is a plot in place by the major financiers and financial institutions, to control.

History is written by the victors” - W. Churchill

An interesting perspective on World War II, and the players involved.

Many people take joy in saying Wall Street and Jewish bankers “financed Hitler.” There is plenty of documented evidence that Wall Street and Jewish bankers did indeed help finance Hitler at first, partly because it allowed the bankers to get rich (as I will describe below) and partly in order to control Stalin. However, when Germany broke free from the bankers, the bankers declared a world war against Germany.

When we look at all the facts, the charge that “Jews financed Hitler” becomes irrelevant. Los Angeles Attorney Ellen Brown discusses this topic in her book Web of Debt…

When Hitler came to power, Germany was hopelessly broke. The Treaty of Versailles had imposed crushing reparations on the German people, demanding that Germans repay every nation’s costs of the war. These costs totaled three times the value of all the property in Germany. Private currency speculators caused the German mark to plummet, precipitating one of the worst runaway inflations in modern times. A wheelbarrow full of 100 billion-mark banknotes could not buy a loaf of bread. The national treasury was empty. Countless homes and farms were lost to speculators and to private banks. Germans lived in hovels. They were starving.

Nothing like this had ever happened before - the total destruction of the national currency, plus the wiping out of people’s savings and businesses. On top of this came a global depression. Germany had no choice but to succumb to debt slavery under international bankers until 1933, when the National Socialists came to power.

At that point the German government thwarted the international banking cartels by issuing its own money. World Jewry responded by declaring a global boycott against Germany. Hitler began a national credit program by devising a plan of public works that included flood control, repair of public buildings and private residences, and construction of new roads, bridges, canals, and port facilities. All these were paid for with money that no longer came from the private international bankers.

The projected cost of these various programs was fixed at one billion units of the national currency. To pay for this, the German government (not the international bankers) issued bills of exchange, called Labor Treasury Certificates. In this way the National Socialists put millions of people to work, and paid them with Treasury Certificates. Under the National Socialists, Germany’s money wasn’t backed by gold (which was owned by the international bankers). It was essentially a receipt for labor and materials delivered to the government. Hitler said, “For every mark issued, we required the equivalent of a mark’s worth of work done, or goods produced.” The government paid workers in Certificates. Workers spent those Certificates on other goods and services, thus creating more jobs for more people. In this way the German people climbed out of the crushing debt imposed on them by the international bankers.

Within two years, the unemployment problem had been solved, and Germany was back on its feet. It had a solid, stable currency, with no debt, and no inflation, at a time when millions of people in the United States and other Western countries (controlled by international bankers) were still out of work. Within five years, Germany went from the poorest nation in Europe to the richest. Germany even managed to restore foreign trade, despite the international bankers’ denial of foreign credit to Germany, and despite the global boycott by Jewish-owned industries. Germany succeeded in this by exchanging equipment and commodities directly with other countries, using a barter system that cut the bankers out of the picture. Germany flourished, since barter eliminates national debt and trade deficits. (Venezuela does the same thing today when it trades oil for commodities, plus medical help, and so on. Hence the bankers are trying to squeeze Venezuela.)

Germany’s economic freedom was short-lived; but it left several monuments, including the famous Autobahn, the world’s first extensive superhighway. Hjalmar Schacht, a Rothschild agent who was temporarily head of the German central bank, summed it up thus… An American banker had commented, “Dr. Schacht, you should come to America. We’ve lots of money and that’s real banking.” Schacht replied, “You should come to Berlin. We don’t have money. That’s real banking.” (Schacht, the Rothschild agent, actually supported the private international bankers against Germany, and was rewarded by having all charges against him dropped at the Nuremberg trials.)

This economic freedom made Hitler extremely popular with the German people. Germany was rescued from English economic theory, which says that all currency must be borrowed against the gold owned by a private and secretive banking cartel — such as the Federal Reserve, or the Central Bank of Europe — rather than issued by the government for the benefit of the people. Canadian researcher Dr. Henry Makow (who is Jewish himself) says the main reason why the bankers arranged for a world war against Germany was that Hitler sidestepped the bankers by creating his own money, thereby freeing the German people. Worse, this freedom and prosperity threatened to spread to other nations. Hitler had to be stopped!

Makow quotes from the 1938 interrogation of C. G. Rakovsky, one of the founders of Soviet Bolshevism and a Trotsky intimate. Rakovsky was tried in show trials in the USSR under Stalin. According to Rakovsky, Hitler was at first funded by the international bankers, through the bankers’ agent Hjalmar Schacht. The bankers financed Hitler in order to control Stalin, who had usurped power from their agent Trotsky. Then Hitler became an even bigger threat than Stalin when Hitler started printing his own money. (Stalin came to power in 1922, which was eleven years before Hitler came to power.)

Rakovsky said:

“Hitler took over the privilege of manufacturing money, and not only physical moneys, but also financial ones. He took over the machinery of falsification and put it to work for the benefit of the people. Can you possibly imagine what would have come if this had infected a number of other states?” (Henry Makow, “Hitler Did Not Want War,” March 21, 2004).

Economist Henry C K Liu writes of Germany’s remarkable transformation:

“The Nazis came to power in 1933 when the German economy was in total collapse, with ruinous war-reparation obligations and zero prospects for foreign investment or credit. Through an independent monetary policy of sovereign credit and a full-employment public-works program, the Third Reich was able to turn a bankrupt Germany, stripped of overseas colonies, into the strongest economy in Europe within four years, even before armament spending began.” (Henry C. K. Liu, “Nazism and the German Economic Miracle,” Asia Times (May 24, 2005).

In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:

“Germany issued debt-free and interest-free money from 1935 on, which accounts for Germany’s startling rise from the depression to a world power in five years. The German government financed its entire operations from 1935 to 1945 without gold, and without debt. It took the entire Capitalist and Communist world to destroy the German revolution, and bring Europe back under the heel of the Bankers.”

These facts do not appear in any textbooks today. What does appear is the disastrous runaway inflation suffered in 1923 by the Weimar Republic, which governed Germany from 1919 to 1933. Today’s textbooks use this inflation to twist truth into its opposite. They cite the radical devaluation of the German mark as an example of what goes wrong when governments print their own money, rather than borrow it from private cartels.

In reality, the Weimar financial crisis began with the impossible reparations payments imposed at the Treaty of Versailles. Hjalmar Schacht [who was never a Nazi Party member either and now it appears clear why that was the case] – the Rothschild agent who was currency commissioner for the Republic — opposed letting the German government print its own money…
“The Treaty of Versailles is a model of ingenious measures for the economic destruction of Germany. Germany could not find any way of holding its head above the water, other than by the inflationary expedient of printing bank notes.”

Schacht echoes the textbook lie that Weimar inflation was caused when the German government printed its own money. However, in his 1967 book The Magic of Money, Schacht let the cat out of the bag by revealing that it was the PRIVATELY-OWNED Reich bank, not the German government, that was pumping new currency into the economy. Thus, the PRIVATE BANK caused the Weimar hyper-inflation.

Like the U.S. Federal Reserve, the Reich bank was overseen by appointed government officials, but was operated for private gain. What drove the wartime inflation into hyperinflation was speculation by foreign investors, who sold the mark short, betting on its decreasing value. In the manipulative device known as the short sale, speculators borrow something they don’t own, sell it, and then “cover” by buying it back at the lower price.

Speculation in the German mark was made possible because the PRIVATELY OWNED Reich bank (not yet under Nazi control) made massive amounts of currency available for borrowing. This currency, like U.S. currency today, was created with accounting entries on the bank’s books. Then the funny-money was lent at compound interest. When the Reich bank could not keep up with the voracious demand for marks, other private banks were allowed to create marks out of nothing, and to lend them at interest. The result was runaway debt and inflation.

Thus, according to Schacht himself, the German government did not cause the Weimar hyperinflation. On the contrary, the government (under the National Socialists) got hyperinflation under control. The National Socialists put the Reich bank under strict government regulation, and took prompt corrective measures to eliminate foreign speculation. One of those measures was to eliminate easy access to funny-money loans from private banks. Then Hitler got Germany back on its feet by having the public government issue Treasury Certificates.

Schacht , the Rothschild agent, disapproved of this government fiat money, and wound up getting fired as head of the Reich bank when he refused to issue it. Nonetheless, he acknowledged in his later memoirs that allowing the government to issue the money it needed did not produce the price inflation predicted by classical economic theory, which says that currency must be borrowed from private cartels.

What causes hyper-inflation is uncontrolled speculation. When speculation is coupled with debt (owed to private banking cartels) the result is disaster. On the other hand, when a government issues currency in carefully measured ways, it causes supply and demand to increase together, leaving prices unaffected. Hence there is no inflation, no debt, no unemployment, and no need for income taxes.

Naturally this terrifies the bankers, since it eliminates their powers. It also terrifies the internationalists, since their control of banking allows them to buy the media, the government, and everything else.

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Zakelijk vliegverkeer Europa ingeklapt

11 mei 2009, 19:13 | ANP
GENEVE (AFN) - In het eerste kwartaal van dit jaar is het Europese luchtverkeer met 8 procent afgenomen ten opzichte van dezelfde periode vorig jaar. Dat maakte Eurocontrol maandag bekend.

Het zakelijke vliegverkeer zakte zelfs met bijna 20 procent in. Juist die passagiers zorgden de afgelopen jaren voor de grootste groei in het luchtverkeer. ,,De afname in het vliegverkeer toont weinig tekenen van herstel'', aldus Eurocontrol.

In maart voorspelde Eurocontrol nog dat het aantal vliegbewegingen dit jaar als gevolg van de recessie met 5 procent zou dalen. De Europese organisatie voor luchtvaartveiligheid verwacht nu pas op zijn vroegst herstel in het voorjaar van 2010.

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Op maandag 11 mei 2009 20:43 schreef pberends het volgende:

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http://www.poketheeye.org/?p=210

Interessant. Zouden de bankiers weer achter het verdwijnen van Hitler op het toneel zitten?

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Op maandag 11 mei 2009 20:53 schreef SeLang het volgende:

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I see rotting brown shoots
KLM

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Balance Sheet Transactions

Posted by Tyler Durden at 3:05 PM
This video is a must watch for anyone who wants to understand just how "effective" the Fed is at safeguarding taxpayer money. Apparently nobody at the Federal Reserve has any clue where the trillions of dollars that have come from the Fed's expanded balance sheet have gone. Additionally, nobody there seems to have any idea what the losses on the Fed's $2 trillion portfolio really are.

As for the pittance of $9 trillion in Fed off-balance sheet transactions over the past 8 months, well, yeah, that's also somewhere out there... Just don't ask the Federal Reserve where.

Rep. Alan Grayson summarizes it best "I am shocked to find out that nobody at the Federal Reserve is keeping track of anything."

(P.S. Zero Hedge uses the term "anyone" generically, with the presumption that the Fed's Inspector General should traditionally receive most memos on memorandum items that deal with a dollar sign and +/- 12 zeros after it).

Is Anyone Minding the Store at the Federal Reserve?

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Op maandag 11 mei 2009 22:41 schreef Dinosaur_Sr het volgende:
2 wtf's in een minuut. Als dat geen omen is

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Op maandag 11 mei 2009 22:39 schreef SeLang het volgende:

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Kijk en huiver. Dit is de Inspector general van de FED
Wtf!!!

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Op maandag 11 mei 2009 22:39 schreef SeLang het volgende:

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Kijk en huiver. Dit is de Inspector general van de FED
Wtf!!!

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Op maandag 11 mei 2009 22:39 schreef SeLang het volgende:

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Kijk en huiver. Dit is de Inspector general van de FED
Wtf!!!

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Op dinsdag 12 mei 2009 13:45 schreef Richie_Rich het volgende:

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Huh

En ook gewoon doen alsof het een futiliteit betreft

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Chinese exports fall sharply

By Jamil Anderlini in Beijing

Published: May 12 2009 05:31 | Last updated: May 12 2009 05:31

Chinese exports fell steeply year-on-year in April, raising fears that the worst is not yet over for an economy that has shown signs of bottoming out in recent weeks.

The total value of Chinese exports fell 22.6 per cent from a year earlier in April to $91.9bn, a faster rate of decline than the 17.1 per cent year-on-year drop in March, which many analysts and officials took as a sign that external demand for Chinese goods was starting to recover.

Imports fell 23 per cent in April from a year earlier to $78.8bn in what some analysts said was a sign that domestic investors were still unwilling to invest in new capacity.

On a more positive note, the government said on Tuesday that fixed-asset investment in Chinese urban areas rose faster than expected in the first four months, jumping 30.5 per cent from a year earlier.

State-backed infrastructure projects intended to boost flagging growth appeared to account for the majority of the investment, but an apparent bottoming out in house prices may have contributed to a resumption of real estate development.

Chinese urban property prices fell 1.1 per cent in April from a year earlier, compared with a fall of 1.3 per cent in March but on a monthly basis prices rose 0.4 per cent in April, compared with a monthly rise of 0.2 per cent in March.

In the last decade, China’s rapid growth has relied heavily on fixed asset investment – primarily in factories that make cheap goods for export and in real estate to house the increasingly affluent masses.

A collapse in both exports and real estate has cut year-on-year GDP growth in the country from 13 per cent in 2007 to 6.1 per cent in the first quarter of this year and prompted the government to launch a series of economic stimulus measures.

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US Treasury yields soared on Thursday after a 30-year government bond auction saw poor demand, highlighting the balancing act facing central banks seeking to keep interest rates low while selling record amounts of debt.

The investor appetite for relatively safe government bonds has diminished as US stocks have rallied on signs that the pace of the downturn has slowed. However, the rising rates threaten central banks’ efforts to encourage people and companies to borrow and thereby stimulate growth.

The 30-year Treasury yield rose to 4.30 per cent on Thursday from 4.10 per cent the day before after bids at the government auction came at lower prices than expected. The 30-year Treasury is now at it highest level since last November. The rise in bond yields has raised questions about whether the Federal Reserve will step up efforts – which began in March – to keep yields down through direct purchases of government bonds.

“It was a terrible auction,” said Tom Porcelli, economist at RBC Capital Markets. “In an environment where markets are pricing in a better macroeconomic backdrop, it is harder to sell bonds at low yields.”

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DETROIT (Reuters) - Shares of General Motors Corp plunged nearly 20 percent to a 76-year low Tuesday, a day after a group of GM executives disclosed they had sold shares in the struggling automaker.

Six GM executives, led by former GM Vice Chairman and product chief Bob Lutz, disclosed Monday they sold almost $315,000 in stock and liquidated their remaining direct holdings in the automaker.

GM is headed for either a bankruptcy filing or an out-of- court restructuring that would wipe out current stockholders by flooding the market with new shares to pay off creditors.

The automaker's stock could be worthless in a bankruptcy or worth less than 2 cents per share if it proceeds with its plans to issue shares to creditors led by the U.S. Treasury, the company has said.

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ING: wij draaien geldkraan helemaal niet dicht

Bankverzekeraar ING herkent zich niet in het beeld dat banken de geldkraan dichtdraaien naar het Nederlandse bedrijfsleven.

Meer uitgeleend
ING heeft in vergelijking met een jaar geleden zelfs meer geld uitgeleend. Dat stelde een woordvoerder van de bank dinsdag in reactie op een artikel in de Volkskrant.

Minder
De krant meldde op basis van cijfers van De Nederlandsche Bank (DNB) dat banken op hun geld zitten. Uitstaande kredieten van alle Nederlandse banken bedroegen in maart van dit jaar dik 260 miljard euro, ruim 7 miljard euro minder dan in augustus 2008.

Tendentieus
"Tendentieus'', stelde een woordvoerder van ING. "Wij vergelijken liever op jaarbasis, omdat er dan geen seizoensinvloeden zijn. Het uitstaande krediet bij ING was in maart 13 procent hoger dan in maart vorig jaar. Dat betekent dat bij ons de loketten dus niet dicht zijn'', aldus de zegsman.

Uit de DNB-cijfers blijkt dat de hoeveelheid uitstaande kredieten fluctueert. In maart vorig jaar bedroegen ze dik 277 miljard, in januari van dat jaar ruim 265 miljard euro.

DNB
De Nederlandsche Bank (DNB) kan zich ook niet vinden in de conclusie dat banken op hun geld zitten. Een woordvoerder verwees naar een persbericht van DNB eind april, waarin de toezichthouder concludeert dat de nieuwe kredietverstrekking aan bedrijven op peil blijft.

Uit gegevens van DNB zou wel blijken dat banken kritischer zijn bij het verstrekken van leningen. Volgens de ING-woordvoerder is daarvan geen sprake. "Wij hanteren nog steeds dezelfde criteria. Dat betekent dat je naar verschillende dingen kijkt zoals: wat zijn de economische prestaties van het bedrijf, de toekomstverwachting, de economische omgeving en wat voor mensen het bedrijf leiden. Die punten zijn niet veranderd.''

Strenger
Wel kan het volgens de woordvoerder zo zijn dat een bedrijf wegens de verslechterde economische omstandigheden op basis van dezelfde criteria nu minder gemakkelijk een lening krijgt. ,,Dit is bijvoorbeeld geen goede tijd om een vrachtwagenpark uit te breiden of een riskante overname te doen'', aldus de zegsman.

ING heeft in Nederland op het gebied van kredietverstrekking een marktaandeel van 11 procent. Bij het midden- en kleinbedrijf (mkb) bedraagt het marktaandeel 21 procent.

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There are approximately 1.2 million register lawyers in the United States. 1.1 million of them saw this headline today. The 100,000 lawyers who did not see it were on vacation and will be aware of it soon enough.

The net of this story is that Goldman has agreed to pay the state of Massachusetts $60 million to settle a dispute regarding Goldman’s “predatory lending” practices in and around Boston. $50 million will be made available to reduce the loan principle on 714 individual mortgages. Of note is that the agreement called for reductions in principal of as much as 30% for traditional mortgages and up to 50% on second mortgages. Also of note is that the State of Massachusetts gets to keep $10mm for their efforts. Not bad for Attorney General Martha Coakley.

This means next to nothing for Goldman Sachs. However, a very dangerous precedent has been set. In the critical years 2005-2007 Goldman was ranked 15th in the League Tables for sub prime and Alt-A origination/securitization. Goldman’s management must be pleased as punch with that poor showing today. Those that ranked high on that list are no doubt consulting with their attorneys.

If Goldman gets its hand slapped for $60mm over 714 mortgages what does this mean for Countrywide Financial? They were very big in Boston. Merrill Lynch was at the top of those securitization tables. That is what got Stan O’Neal fired. If the settlement in Boston is representative of what will be forthcoming then Bank of America is going to be facing a very big number. And that is just Massachusetts. The AGs in the all of the other states, especially Florida, Nevada, Arizona and California must be licking their chops at this news.

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Op donderdag 14 mei 2009 08:43 schreef pberends het volgende:
Toch maar even deze gepost, hij blijft leuk:

Fed raakt 9 biljoen dollar kwijt

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Op donderdag 14 mei 2009 08:43 schreef pberends het volgende:
Toch maar even deze gepost, hij blijft leuk:

Fed is 9 biljoen dollar zoek

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May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

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WASHINGTON (Reuters) - Two U.S. Securities and Exchange Commission employees are under investigation by federal criminal authorities for allegedly using insider information to trade stocks, a source familiar with the matter said on Thursday.

A report by the SEC's internal watchdog alleges that the two SEC lawyers traded in stock of a large financial services company despite being told by another SEC employee of ongoing investigations of that company, CBS News reported.

The SEC inspector general report said one SEC attorney under investigation works in the Office of the SEC's Chief Counsel and has access to a tremendous amount of nonpublic information, CBS News said.

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Op vrijdag 15 mei 2009 07:57 schreef Perrin het volgende:
Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
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Goh.

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Op vrijdag 15 mei 2009 11:30 schreef Zero2Nine het volgende:

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Vreemd dat hij het dan zelf alleen maar erger maakt met die "stimulus packages".

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Op vrijdag 15 mei 2009 15:34 schreef SeLang het volgende:
Een lang stuk, maar 'leuk'/interessant om te lezen:

My Personal Credit Crisis