7-Jun-11 News -- BIS: high US exposure to European defaults

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7-Jun-11 News -- BIS: high US exposure to European defaults

Postby John » Mon Jun 06, 2011 11:42 pm

7-Jun-11 News -- BIS report shows high US exposure to European defaults

U.S. Bank Guarantees to European Banks

** 7-Jun-11 News -- BIS report shows high US exposure to European defaults
** http://www.generationaldynamics.com/cgi-bin/D.PL?xct=gd.e110607b#e110607b

** 7-Jun-11 World View -- Syria implicated in 'Naksa day' deaths
** http://www.generationaldynamics.com/cgi-bin/D.PL?xct=gd.e110607#e110607

"BIS report shows high US exposure to European defaults"
"U.S. Bank Guarantees to European Banks"

### World view ### - Syria implicated in 'Naksa day' deaths
"Reform Party of Syria says that Assad paid anti-Israeli protesters"
"Syria says that 120 security officers were killed in ambush"
"Yemen's president plans to return within days"
"Oooops! E.coli not coming from bean sprouts after all"

Generational Dynamics, Germany, France, Britain,
Bank of International Settlements, Greece, Portugal, Ireland

Generational Dynamics, Syria, Naksa Day, Israel,
Bashir al-Assad, Jisr al-Shughour,
Yemen, Ali Abdullah Saleh, E. coli

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Re: 7-Jun-11 News -- BIS: high US exposure to European defau

Postby mannfm11 » Tue Jun 07, 2011 3:09 am

What do you think the bonuses paid on this money to the various bankers was? First of all, there are 300,000 empty houses in Ireland, where so much of the exposure lies. I was in Dallas back in the 1980's S&L bust. One S&L sold participation and built about a 4 mile stretch of IH30 in solid condo's, a market that didn't exist. The participants were flipping land and financing it 110%. Those that invested in the condos walked out of closing with money. The market wasn't there for those structures and many were torn down.

Ireland has 5 million or so people. The idea they built 300,000 too many housing units in a country that size, screams fraud. These bankers are supposed to know what the hell they are lending money on, but it is clear they were either incompetent or dishonest. The people that hired them should pay, not the Irish or the tax payers. Most of this housing stock will need to be torn down. Without the financing, none of it would have ever been done.

The link of international banks needs to be destroyed, as they are really doing nothing but screwing the worlds population out of as much money as they can. The bondholders need to own the banks to the extent of their holdings and the shareholders need to be wiped out. The bonuses need to be clawed back and the heads of these banks need to be arrested and tried for gross fraud and failure to maintain institutional control. Those that don't like bank equity can sell their shares on the market. All this money flowed to engage in poor business decisions for a quick personal profit, not to actually provide needed housing.

I read the Bubble at your recommendation 3 years ago. In it was described a dance to make bad debts appear to be good. This does sound suspiciously like the same process. The Fed has been covering up crimes and fraud and insolvency, not liabilities. Most large banks, the depositors should be given priority and the FDIC and other outfits would never pay out a dime. The bankers haven't had legitimate reserves or capital for years and as such have been operating under accounting fraud. Bankrupts exchanging their credit between each other in the guise of legitimate lending. When the tide goes out, we will find the whole system is naked.

The US guarantees are better known as Credit Default Swaps.

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Re: 7-Jun-11 News -- BIS: high US exposure to European defau

Postby JonLaw » Tue Jun 07, 2011 9:48 am

Barry: You should see if you can re-register for BearChat again. Yogi's now the moderator, so I think you're allowed to return.
And yes, lots of the housing stock will be destroyed.

John: Here's an article from Paul Craig Roberts. I can never quite tell where he is coming from, except that he is convinced that the U.S. is trying to create a nuclear war between India and China. Had you noticed this ultimatum anywhere? It fits with what you are seeing, with Pakistan siding with China:

"Therefore, China showed its displeasure with the US threat to Pakistan, and advised Washington to respect Pakistan’s sovereignty, adding that any attack on Pakistan would be considered an attack on China

I do not think China’s ultimatum was reported in the US press, but it was widely reported in India’s press. India is concerned that China has stepped up to Pakistan’s defense.

The Chinese ultimatum is important, because it is a WWI or WWII level of ultimatum. With this level of commitment of China to Pakistan, Washington will now seek a way to maneuver itself out of the confrontation and to substitute India."


I think what we are seeing is just the next stage in the Great Power game of World Leadership that has been going on in the West since 1500 or so (per Mike Alexander).

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Re: 7-Jun-11 News -- BIS: high US exposure to European defau

Postby xakzen » Tue Jun 07, 2011 11:38 am


I don't know anyone who is cheering for defaults. But as you say the defaults are inevitable. Throwing another 100 billion euros at Greece is just more money down the rat hole. If anyone world welcome a default, it's simply to stop the bleeding. Truly the money is already gone. The banks would like to think they can get the taxpayers of the world to work it off, but there's just too much debt. The people are already revolting there. If the US really does assume that debt in the form of CDS, there will bea revolt here. Of course that book is an excellent read. Keep recommending it!


Re: 7-Jun-11 News -- BIS: high US exposure to European defau

Postby Austin » Tue Jun 07, 2011 6:50 pm

"However, some protesters are saying that the gunfight was actually a mutiny by security forces that didn't want to continue firing on unarmed protesters."

when I listened to the BBC World Radio last evening, they were saying the 120 killed were the forces that did not want to open fire on protesters and the gov. was sending a msg to others instead of the other way around where the shooting force was the mutinying forces.

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