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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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US mortgage fraud drama continues - Taylor Bean though a small fish compared to BoA & JP Morgue scandals. My focus here is on the audit firm Deloitte, which is accussed of failure to detect phantom mortgage assets. If you study classic cases of epic enterprise corruption such as enron, worldcom etc there is always a big four auditing firm lurking behind the scenes. Initial audit firms had a big five tag, but authur andersen was crashed by the enron 2001 scandal, thus big 5 became 4 - PWC, Deloitte, KPMG & fill the blank. The most difficult thing in unearthing ponzinomics is wearing the money goggles. Once you perfect that following the money becomes easy just like using night vision gear... This will never be taught in class etc & enough wealthy guys have told you they didnt attain those hyped degrees, masters, phds etc. How can the ponzi secrets be openly taught in class and a wage slave aka middle class is needed to propel the system? For those in the banking world, who are your largest borrowers? If you remove the middle class from society, the system falls apart  http://www.bloomberg.com...aylor-bean-collapse.html$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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[quote=hisah]US gubberment kicks their debt funding can down the road till Nov 18 to avoid another shutdown 4 days away from Sept 30. For those that have forgotten, the previous shutdown was almost attained on Aug 3 2011. So in less than 60 days another shutdown was looming. With the latest extension to Nov 18 that means the timer has been reset to 59 days from now. Developing nations also do have gubberment funding issues, but for the owner of the global reserve currency unable to fund itself perpetually, but relying on monthly budgets, this ponzi game is done!? With euroland on a default timer, US debt above $14 trillion, global debt is now unpayable. The only option is to reset the system with debt forgiveness as the main reset component. http://bit.ly/pWrjr3[/quote] Tough call. China has waited a longtime to be no.1. Only a debt to equity deal will work for them
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@Cde - nobody will be #1 when the whole system is going down the drain... It serves no purpose clinching #1 etc. Make the system function at equillibrium, the rest will take care of itself. A snap shot of Debt vs GDP for euroland nations...  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Better have things to do at home
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Last year KE banks were on a spree of reporting outsize profits. Guess who else has done the same in asia, Ching banks. Guess where they'll be next year in 2012... The Ponzinomics 101 handbook states that when banks report outsize profits, a stock market dive is always around the corner - in this case Shanghai has been following the script well as well as our NSE. And with default drama on the edge, hold on tight! Follow the money... http://www.forbes.com/si...report-outsized-profits/$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:The most difficult thing in unearthing ponzinomics is wearing the money goggles. Once you perfect that following the money becomes easy just like using night vision gear... This will never be taught in class etc & enough wealthy guys have told you they didnt attain those hyped degrees, masters, phds etc. How can the ponzi secrets be openly taught in class and a wage slave aka middle class is needed to propel the system? For those in the banking world, who are your largest borrowers? If you remove the middle class from society, the system falls apart Love this, gotta find my money googles. “small step for man”
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Rank: Veteran Joined: 5/7/2009 Posts: 1,032 Location: Sea of Transquility
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hisah wrote:US gubberment kicks their debt funding can down the road till Nov 18 to avoid another shutdown 4 days away from Sept 30. For those that have forgotten, the previous shutdown was almost attained on Aug 3 2011. So in less than 60 days another shutdown was looming. With the latest extension to Nov 18 that means the timer has been reset to 59 days from now. Developing nations also do have gubberment funding issues, but for the owner of the global reserve currency unable to fund itself perpetually, but relying on monthly budgets, this ponzi game is done!? With euroland on a default timer, US debt above $14 trillion, global debt is now unpayable. The only option is to reset the system with debt forgiveness as the main reset component. http://bit.ly/pWrjr3 http://news.yahoo.com/shutdown-...s-linger-070622595.html “small step for man”
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Yours truly - Attila Szalay-Berzeviczy, former president of the Budapest Stock Exchange http://bit.ly/oZVPym$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Still focussed on ching land while eyes are fixed on greased piigs... http://bit.ly/q4tsm9 - Ching CDS http://bit.ly/mRcUuN - bond issuance gets ahead of itself last year. This yr PBoC hikes rates endlessly as inflation rallies. Outsize ching banks profits... http://www.businessweek....bonds-china-credit.html
This bond fund will be the talk next year as it fries investors... Ching too will experience the slowdown like the rest of the globe. Aussie mortgage sector frothing... Jap, long way to turn around from that nasty quake. So who will spur asia's growth? India? The tape continues... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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OCW - Occupy wall street is still on - day 13 & counting. Seems it will last after all... http://blogs.villagevoic...1/09/transport_worke.php$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 4/14/2011 Posts: 639
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Ceinz wrote:hisah wrote:The most difficult thing in unearthing ponzinomics is wearing the money goggles. Once you perfect that following the money becomes easy just like using night vision gear... This will never be taught in class etc & enough wealthy guys have told you they didnt attain those hyped degrees, masters, phds etc. How can the ponzi secrets be openly taught in class and a wage slave aka middle class is needed to propel the system? For those in the banking world, who are your largest borrowers? If you remove the middle class from society, the system falls apart Love this, gotta find my money googles. Zinauzangwa wapi?n how much.sorry for going to the wrong thread.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Le banque Dexia... It is quite interesting how time is a cycle, which anyone can learn to read to forecast the likely potentials... Back in Oct 12 2008 Dexia was everywhere, but behind the scene... http://www.globes.co.il/...cview.asp?did=100038887
A nationalization is on the cards this year... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:History has a sneaky habit of almost repeating itself since foxes run the hen house. Until the hens kick out the fox, the repeat cycle is here to stay... History back in 2008 - Dexia bank group http://uk.reuters.com/ar...n-idUKL2249550220080722
Present history - Dexia again and a host of French banks -> http://www.morningstar.c...aspx?id=146256521386093
Future history -> Greece will default by Q4 2011. Then the chips will start falling... This is 2008 and the future is history. Europe coughed & lehman went bananas. Europe will cough again and... Do your homework and no cheating Note 'Grease' 10yr bonds at 30%+ -- Bond vigilantes sucking the victim dry. What happens to the weak neighbors Spain, Portugal, Belgium, Italy etc and that 'strong' euro currency... Back in June 2011...$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Interesting Ron Paul video - http://www.youtube.com/w...feature=player_embedded
http://www.youtube.com/w...QSZA&feature=related$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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CNBC - cartoon biz network now realizes something is cooking in Belgium namely Dexia... http://www.cnbc.com/id/44712635
With global stocks on a plummet today, I wonder if that 'rogue trader' one Rastani aka dreamer of recession paradise will be hanged for spooking the markets like Assange did for foreign relations with his wikileak... I need more popcorn instead of sleep. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Mmm..interesting.all this while the US issues are being glossed over. I expect that after the elections next year, we will see fireworks.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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[quote=the deal]UK banks ran Ponzi Schemes before 2008 http://mobile.bloomberg....ory=%2Fnews%2Feurope%2F[/quote] While S&P reaffirms UK's rating as AAA i.e. very credit worthy  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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