Hmmm...I wonder what would the master EU idiot - Ollie R. say about this ...
Telling people that they can lose their deposits, even possibly below guaranteed amount (100,000 euros), which later was retracted, had not been a mistake. Firstly people realized and got used to the idea that such thing was no longer unthinkable. Secondly, by hitting deposits above 100,000 euros with up to 40% (or even maybe up to 60%) tax, it was made clear that such hit can be very hard indeed. Not some 6.75% or 9.9% as originally mooted: so now it is matter for the 'financial markets' to extend their target, below 100,000 euros. It is indeed a very primitive piece of social engineering and coaching people for the forthcoming loss. It is preparing psychologically all countries in Europe for the next step of the largest heist in history: direct and hard targeting of people's deposits. There is also a rather ironic twist in the events in Cyprus. It has been widely reported that many billions of euros held in banks in Cyprus came from all sorts of dodgy businesses (Russia?). There is even a whispering subliminal propaganda designed to make it easier to accept this new phase of the largest heist in history. The message is that there is nothing wrong in stealing money from the thieves.
Technically what happened there was that the billions of euros in cash deposited in Cyprus was used to redeem for a lot of toxic waste of the financial institutions (it is called 'making investments' in a financial language, with depositors cash). So, as expected, those who had cash ended up with nothing and those who held (and are still generating) zillions of toxic waste, got another tranche of their heist. The largest heist in history continues. Now...if it is true, as it is widely rumored, that many billions of euros of mafia money have been kept in Cyprus and now something like 40% or even 60% are going to be lost, one could wonder whether European politicians, central bankers, who drive this process, e.g. finance ministers, or some other decision makers, even lower down the chain, are going to sleep comfortably. Or are they going to think more about their own and their families safety? Is mafia going to accept such multibillion euros loss? Or would they plan to teach a lesson in order to get their money back, to get a compensation for the current 'inconvenience' and mess and to make sure such a thing is unthinkable in the future. Mafia starts wars when there is big money at stake. And in Cyprus some powerful groups lost billions of euros. Therefore we can also look forward to listen to some interesting news. Don't be surprised.
Telling people that they can lose their deposits, even possibly below guaranteed amount (100,000 euros), which later was retracted, had not been a mistake. Firstly people realized and got used to the idea that such thing was no longer unthinkable. Secondly, by hitting deposits above 100,000 euros with up to 40% (or even maybe up to 60%) tax, it was made clear that such hit can be very hard indeed. Not some 6.75% or 9.9% as originally mooted: so now it is matter for the 'financial markets' to extend their target, below 100,000 euros. It is indeed a very primitive piece of social engineering and coaching people for the forthcoming loss. It is preparing psychologically all countries in Europe for the next step of the largest heist in history: direct and hard targeting of people's deposits. There is also a rather ironic twist in the events in Cyprus. It has been widely reported that many billions of euros held in banks in Cyprus came from all sorts of dodgy businesses (Russia?). There is even a whispering subliminal propaganda designed to make it easier to accept this new phase of the largest heist in history. The message is that there is nothing wrong in stealing money from the thieves. 
Technically what happened there was that the billions of euros in cash deposited in Cyprus was used to redeem for a lot of toxic waste of the financial institutions (it is called 'making investments' in a financial language, with depositors cash). So, as expected, those who had cash ended up with nothing and those who held (and are still generating) zillions of toxic waste, got another tranche of their heist. The largest heist in history continues. Now...if it is true, as it is widely rumored, that many billions of euros of mafia money have been kept in Cyprus and now something like 40% or even 60% are going to be lost, one could wonder whether European politicians, central bankers, who drive this process, e.g. finance ministers, or some other decision makers, even lower down the chain, are going to sleep comfortably. Or are they going to think more about their own and their families safety? Is mafia going to accept such multibillion euros loss? Or would they plan to teach a lesson in order to get their money back, to get a compensation for the current 'inconvenience' and mess and to make sure such a thing is unthinkable in the future. Mafia starts wars when there is big money at stake. And in Cyprus some powerful groups lost billions of euros. Therefore we can also look forward to listen to some interesting news. Don't be surprised.
4 comments:
Although the Big Four accounting firm was not criticised by the Parliamentary Commission on Banking Standards, the damning report revealed HBOS was carrying £47bn of losses when rescued by the taxpayer despite getting a clean bill of health from KPMG.
In HBOS’s corporate arm alone, KPMG cleared management’s decision to set aside just £370m in provisions in May 2008, when the final divisional losses ended up being £25bn.
In light of the findings, the Financial Reporting Council said it would review both the commission’s report and the conclusions of the Financial Services Authority’s upcoming review into HBOS’ collapse, “to see whether there is a case for an investigation under our powers”.
“We continue to monitor the situation,” a spokesman said. “There isn’t an official investigation currently”.
see the revolving-door alphabet soup financial 'regulatory' industry is in rude health and high spirits.
The Financial Misconduct Authority is well-named, anyway.
But a £370million provision to cover a potential £25billion loss shows it's not what you know, or even whom you know, but who you are that counts.
"We stand by the quality of our audit work." Stand by it, but by no means tread in it.
Yes good people although my question was partly rhetorical I think I already knew the answer. It is hard to blow the whistle when your job and families prospects are on the line. A special hotline would seem to be the answer but only if the investigating authorities are fully trained, thorough, and have the necessary powers..
"French industrial groups are up in arms as their once-celebrated
nuclear-energy edge evaporates."
"After decades when their factories churned out everything from steel, glass
and chemicals with one of the cheapest power prices in Europe thanks to the
country's 58 nuclear reactors, French companies' competitive advantage is
being whittled away as the U.S. embrace of shale gas cuts energy prices
there and as Germany gives businesses fiscal breaks against electricity
costs."
"PARIS, Jan 22 (Reuters) - France's net electricity exports fell by nearly a
fifth in 2012, hit by competitive German electricity produced from cheaper
coal and booming renewables, French power grid operator RTE said."
"For the first time ever, France was a net importer from Germany every month
of last year, added RTE, a subsidiary of former power monopoly EDF."
http://www.thisdaylive.com/art...
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