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  • #43,781
  • Mar 31, 2013 8:27pm Mar 31, 2013 8:27pm
there is panic on the streets, it should go lower with this thin markets today and all the holidays.....
The Chonchy
  • #43,782
  • Mar 31, 2013 8:30pm Mar 31, 2013 8:30pm
Quoting chonchy
..........Is this the end for the other banks? There will also be a change at the top of the Bank, with Canadian Mark Carney taking over as governor from Sir Mervyn King in July http://www.guardian.co.uk/business/2...l-central-bank
look at Carney's govt career timeline in the context of the dates (just prior to and during the financial crisis) referenced here;

i leave you with this thought..............

"In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation."

the shit will hit the fan on Tuesday........Canadians are in the dark on this maneuver behind the scenes by the banks usurping political democracy.....Harper looks bad on this deal

________________


Just as the Netherland's Finance Minister, Jeroen Dijsselbleom accidentally admitted Monday, it appears that the Cypriot bail-in is anything but a one-off event, and is in fact the new collapse template for the entire Western banking system, and not just the ECB/ Eurozone!

To provide context Dijsselbeom is also the President of the Eurogroup which is a meeting of the finance ministers of the Eurozone, and on n March 2013 in relation to the negotiations over the insolvency of Cyprus banks , Dijsselbloem took a lead in the negotiation, conclusion and subsequent public promotion of the "Cyprus bail-in".

Dijsselbloem attracted criticism for the precedent of taking depositors' balances as part of bank rescues but said "I’m pretty confident that the markets will see this as a sensible, very concentrated and direct approach instead of a more general approach…It will force all financial institutions, as well as investors, to think about the risks they are taking on because they will now have to realize that it may also hurt them."

Similar legislation is either already passed or pending in New Zealand and Spain although the Dijsselbloom statements were qucikly retracted and subsequently revised by other EZ/EU/ECB policy makers as a an an attempt at public relations/market perception management/damage control.

In relation to CANADA an alarming provision has been buried deep inside the official 2013 Canadian Budget that will result in depositor haircut bail-ins jumping to this side of the Atlantic during the next bank crisis.

Titled ECONOMIC ACTION PLAN 2013 and tabled in the House of Commons by Minster of Finance James Flaherty on March 21st, the official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures.




From Page 144:

“The Government also recognizes the need to manage the risks associated with systemically important banks—those banks whose distress or failure
could cause a disruption to the financial system and, in turn, negative impacts on the economy. This requires strong prudential oversight and a robust set of
options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable.”

Translated, Without the use of taxpayer funds means via depositor funds.
And the intent of the provision, from Page 145:

The Government proposes to implement a bail-in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital.

This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada.

Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants…


Confiscating wealth from depositors will reduce risks for taxpayers???


The bail-in provision in Canada’s 2013 budget can be found on pages 144,145:

http://www.budget.gc.ca/2013/doc/pla...et2013-eng.pdf
  • #43,783
  • Mar 31, 2013 8:40pm Mar 31, 2013 8:40pm
someone is lying here (again).......guess who (the statements were in the context of 2007/2008 financial crisis.........Carney came onbord as BOC Chm Feb 2008


this is not rocket science


The Big Banks Big Secret - Canada open.pdf

excerpts from article;

“…we have not had to put any taxpayers’ money into our financial system in Canada, nor do I anticipate that we’ll be obliged to do so.”
—Jim Flaherty, Minister of Finance
“Without wanting to appear arrogant or vain, which would be quite un-Canadian... while our system is not perfect, it has worked during this difficult time, I don’t want the government to be in the banking business in Canada.”
—Jim Flaherty, Minister of Finance
“It is true, we have the only banks in the western world that are not looking at bailouts or anything like that...and we haven’t got any TARP money.”
—Stephen Harper, Prime Minister




The official story of the 2008 financial crisis goes like this: American and international banks got caught placing bad bets on U.S. mortgages and had to be bailed out. But not in Canada. Through the financial crisis, Canadian banks were touted by the federal government and the banks themselves as being much more stable than other countries’ big banks. Canadian banks, we were assured, needed no such bailout.

However, in contrast to the official story Canada’s banks received $114 billion in cash and loan support between September 2008 and August 2010. They were double-dipping in not only two but three separate support programs, one of them American. They continued receiving this support for a protracted period while at the same time reaping considerable profits and providing raises to their CEOs, who were already among Canada’s highest paid. In fact, several banks drew government support whose value exceeded the bank’s actual value. Canadian banks were in hot water during the crisis and the Canadian government has remained resolutely secretive about the details.

It should be noted that the “Extraordinary Financing Framework” was prepared to spend up to $200 billion to aid the banks and other industries. In other words, while the sums reported in this report are enormous, there were even more funds to be disbursed if the banks needed them.
  • #43,784
  • Mar 31, 2013 8:42pm Mar 31, 2013 8:42pm
Quoting chonchy
..........Is this the end for the other banks? There will also be a change at the top of the Bank, with Canadian Mark Carney taking over as governor from Sir Mervyn King in July http://www.guardian.co.uk/business/2...l-central-bank
you think SNB is shitting their pants?
  • #43,785
  • Mar 31, 2013 8:45pm Mar 31, 2013 8:45pm
Quoting roro53
look at Carney's govt career timeline in the context of the dates (just prior to and during the financial crisis) referenced here; i leave you with this thought.............. "In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation." the shit will hit the fan on Tuesday........Canadians are in the dark on this maneuver behind the scenes by the banks usurping political democracy.....Harper looks bad on this deal ________________ Just as the Netherland's Finance Minister, Jeroen Dijsselbleom accidentally...
well of course if you confiscate the money from the depositors, taxing them can become a later event, it don't have to be right now........
The Chonchy
  • #43,786
  • Mar 31, 2013 8:51pm Mar 31, 2013 8:51pm
Quoting chonchy
well of course if you confiscate the money from the depositors, taxing them can become a later event, it don't have to be right now........
Inserted Video
The Chonchy
  • #43,787
  • Edited 9:03pm Mar 31, 2013 8:51pm | Edited 9:03pm
Quoting chonchy
well of course if you confiscate the money from the depositors, taxing them can become a later event, it don't have to be right now........
Inserted Video


.......this is so familiar.......
The Chonchy
  • #43,788
  • Mar 31, 2013 9:00pm Mar 31, 2013 9:00pm
Quoting smikester
. My view is this: Banks should never be too big to fail. It is a disgrace that sovereign governments, i.e. the people of a country, should have to pay for a poorly run business. Regarding the current criticism of Europe - Cyprus is not analogous to the EU. Why would anyone place massive deposits in a virtually unknown bank in a small island which is partitioned? That's a good question isn't it? I wouldn't have trusted them with a pay check. Banks have always failed and not always because of economic circumstances beyond their control. When a business...
watching your gbp/chf....got another long at 1.42iss and another higher up......London real estate may be looking up

Copper looking very shitty though :-)

can't wait to hear the latest from Draghi and company...........i mean the FED already dumped a $100 billion in fungible cash on European banks after Grillo pissed all over the party

fucking Italians

maybe the ECB can take a page from the Pope kissing feet and get into wiping some ass ......what do you think?.....sounds reasonable to me.
  • #43,789
  • Edited 9:12pm Mar 31, 2013 9:01pm | Edited 9:12pm
history repeats, all about money.......has anything change today? the women maybe.......

Inserted Video
The Chonchy
  • #43,790
  • Mar 31, 2013 9:04pm Mar 31, 2013 9:04pm
Quoting chonchy
http://www.youtube.com/watch?v=YblzPwhflAM
i hope you make some money here.........this shit is about to become VERY DIFFICULT TO EXPLAIN AWAY

there is a reason Carney was dubbed 'Buddy the Elf" when appointed to the bOE
  • #43,791
  • Mar 31, 2013 9:09pm Mar 31, 2013 9:09pm
Quoting chonchy
history repeats, all about money.......
it is all about trading. pure and simple

art for dummies

Woman and Mannequin in Parisian Metro, Paris
http://pcdn.500px.net/15903819/a82e5...313c2ab3/4.jpg
  • #43,792
  • Mar 31, 2013 9:24pm Mar 31, 2013 9:24pm
Quoting roro53
it is all about trading. pure and simple art for dummies Woman and Mannequin in Parisian Metro, Paris {image} ("http://pcdn.500px.net/15903819/a82e5de0245f0a2437566a2e52350662313c2ab3/4.jpg")
"Just play the game"

Inserted Video
The Chonchy
  • #43,793
  • Mar 31, 2013 10:33pm Mar 31, 2013 10:33pm
Quoting chonchy
history repeats, all about money.......has anything change today? the women maybe....... http://www.youtube.com/watch?NR=1&v=...4&feature=fvwp
that is just so cool, Carlos.........love to meet up with Dr Lucy for some tours..........very cool

amazing what we do not know
  • #43,794
  • Mar 31, 2013 10:41pm Mar 31, 2013 10:41pm
Quoting chonchy
"Just play the game" http://www.youtube.com/watch?v=OG5SGoRuC1M
you are hot, and on a roll........i love history....

you may like this one too......RISK

Inserted Video
  • #43,795
  • Mar 31, 2013 11:31pm Mar 31, 2013 11:31pm
Quoting chonchy
stupid gap down, I got stoped out, no cigar for me.......
Ok well i dont like to trade this bank holidays especailly sunday night not dont like that shit used to in the past do stuff like that never really helped me much. Eu also still looks down imo i would look to buy from 1.2680 to 1.2650 for some counter bounce but inbetween i like still to fade rallies. Dont give a shit if there is some retarded pinbar or monkey patterns i dont buy it till it gets there simple as that
  • #43,796
  • Mar 31, 2013 11:38pm Mar 31, 2013 11:38pm
Just opened this chart eu doing that gap thing again whole boat full with pikers in a sinking boat all for the gap i think i am just gonna read sometimes th eu thread today love it when it does stuff like this
  • #43,797
  • Mar 31, 2013 11:47pm Mar 31, 2013 11:47pm
Quoting roro53
you are hot, and on a roll........i love history.... you may like this one too......RISK http://www.youtube.com/watch?v=wzzoBVK3fyE
so that is why poor chavez is dead ah, coincidence........
very good video roro, i need to buy me some gold.......
The Chonchy
  • #43,798
  • Mar 31, 2013 11:53pm Mar 31, 2013 11:53pm
Quoting ingmarforex
Just opened this chart eu doing that gap thing again whole boat full with pikers in a sinking boat all for the gap i think i am just gonna read sometimes th eu thread today love it when it does stuff like this
I enter friday at 2790 like i told you, and took partial lots profits, set the rest for +1 for today and got stoped out at +1 when it open, now bought at 2772 and took profit at 2780, for 8 pips, is too much work for me to make 8 pips, I should buy gold like roro saids before I lose it all, but how i pay the bills, with gold?
The Chonchy
  • #43,799
  • Apr 1, 2013 12:02am Apr 1, 2013 12:02am
Quoting chonchy
I enter friday at 2790 like i told you, and took partial lots profits, set the rest for +1 for today and got stoped out at +1 when it open, now bought at 2772 and took profit at 2780, for 8 pips, is too much work for me to make 8 pips, I should buy gold like roro saids before I lose it all, but how i pay the bills, with gold?
Ok i am looking to buy on a break of this lows before thursday 1.2650 80 area for a 400 pip bounce
  • #43,800
  • Edited 12:27am Apr 1, 2013 12:04am | Edited 12:27am
Quoting roro53
you are hot, and on a roll........i love history.... you may like this one too......RISK http://www.youtube.com/watch?v=wzzoBVK3fyE
Inserted Video


Inserted Video
The Chonchy
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