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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@Mainat - look for dexia. This was back in 2008/9 GFC panic central period. You will also notice the shocking amount of discount window borrowings by what we all think are 'strong' banks today. US banks stress tests were done after the bailouts & toxic asset separation. Note dexia borrowed $2.7 trillion! Why were foreign banks bailed out? http://bit.ly/nCNfIi
http://news.bbc.co.uk/2/hi/8039096.stm --> Notice BoA back in May 2009 stress tests. http://www.cnbc.com/id/4...w_Round_of_Stress_Tests --> Sept 2011 the stress tests are now done quietly for US banks. Note euroland also did theirs and banks passed with flying colors. But Mr Market aint buying these stories... http://www.reuters.com/a...a-idUSL5E7L805420111008 --> Where did it take the $2 trillion it borrowed back in 2008? Now it seems Dexia's funeral is expected today... Wil we see a bank run in Belgium which has no gubberment for 482 days running? http://www.time.com/time.../0,8599,2052843,00.html
http://www.tfmarketadvis...a-will-be-nationalized/
And the boring dating scene still stuck in 2008 continues... http://www.youtube.com/watch?v=1_NtV6Rptd4
http://www.youtube.com/watch?v=oOpFbjHcxF0
http://english.alarabiya.net/mob/en/170791.html --> Idiot gubberment. The more they kill, the larger the protests grow. Cant they see this is a failed strategy... $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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Nationalisation pap!! We ought to witness abroad the creation of our formerly GoK majority owned KCBs, NBKs, Consolidated Banks to Kenya Res 
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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http://www.youtube.com/watch?v=jvbmqPj491E
Interesting. I hope you'll get the message as history repeats itself. Foxes will always run the hen house until the hens wake up & grab back what is rightfully theirs... http://www.democracynow..../tags/occupy_wall_street$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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If You Rob a Bank, You Go to Prison. If a Bank Robs You, They Get a Bailout. What a bullshit system! http://www.youtube.com/watch?v=gLx2Xc1EXLg http://www.youtube.com/w...T0&feature=youtu.be
Btw on Oct 19 is the planned date for 24hr general strike in Greece. Update your travel plans if you intend to tour Greece... $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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And with this - http://www.reuters.com/a...a-idUSTRE7962XE20111009 - you can take it to the bank that Dexia's nationalization is a done deal... Next deal... Greece bondholders coming haircuts together with nasty CDS losses... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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I wonder how FT got that story on RBS? Its analysis seemed believable enough. Something in the water. Sehemu ndio nyumba
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@Mainat - This is the most recent table on eurobank stress tests with the 'best' 21 banks. Topping the list is Dexia... In this world of ponzinomics, just do the opposite of what central planners & gubberment state. But, dont attempt this while in class looking for some certifying papers. You'll be downgraded by the lecturers & the school for being a nuthead misfit... But in real life, it makes one a lot of money ponzi money aka fiat paper  http://bit.ly/p6djt0
Belgium with 98% of debt to gdp is one of Dexia's guarantors - they'll contribute 60%!? Eh, this is no longer a ponzi, but a sheer houdini act. Just be calm, everything is under control. http://www.youtube.com/watch?v=zDAmPIq29ro$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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And emerging markets are risky...right, right...#BS#
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Quite interesting to see a number of lawsuits against this CEO... http://pastebin.com/NVWbxk9f
As for fans of paulson, soon bob marley's redemption song will be a daily mantra as funds redemptions hit the fan - http://t.co/aO9ZUeEc
Btw do the KE mutual funds/unit trusts publish quarterly results. It would be interesting to see the ratio of inflows to outflow funds in the current econ esp for equity funds. $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:@youcan't and @guru
The Dow can print 30k or whatever levels the manipulators want. The fundamentals in europe & US are far worse than 2008. I wish you could research on contracting funds flow, the jobs destruction, the restless civil fabric (riots, strikes in europe etc) and a host of other issues that state the true picture on the ground. When gold prices (esp in euros, pounds & dollars) go parabolic it is a vote of no confidence in the financial system. When the Dow was hitting 12K in 2007, the mortgage rot was ignored. The following year the markets got spooked.
Now we have systemic mortgage fraud popping up yet again, those famous toxic assets that were 'struck' out of banks balance sheets, very weak labour markets in US & europe, a national debt contagion in europe and a currency war by various central banks as everyone tries to save the $ by devaluing their currency to boost exports and a US fed that is on a high laser speed money printing spree.
The basic financial fundamentals in the western world are very negative. Mr. Market is now totally irrational and has ignored the obvious. Perfect and good luck
I still stick with my opinion that the global markets will take out this May lows before Mr. Market panics and they head back to March 2009 lows or lower depending on the selling.
I wish @tuskerbaridi was here to repost his famous NSE 4000 post back in 2007. 367 days later... $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:http://www.businessdailyafrica.com/-/539546/1030614/-/msn2ho/-/index.html
This inflation rate model manipulation is going to create chaos in future to the money supply. As long as the economy recovers and expands, bankers will overlook it. But during a pause or recession, bankers might boycott using this gauge and a money crunch will follow suit.
It's no wonder the Kenyan banks ignore the CBK's fund rate (CBR) and refuse to lower the loan interest rates to single digits since the risk models are out of sync with the Banker.
What is keeping the KES rate lower against the €, £ & $ if indeed the econ is on recovery and is expanding?
At the moment I can't understand this ultra low inflation rate & a devalued KES. That Business daily article was Posted on Tuesday, October 12 2010. We questioned the central planners on the same with @scubidu especially the fudging of the inflation model to force the rate downwards back in Feb 2010. I was maddened by the use of cheat tricks called hedonics on the same. I have seen the same in Asia and Western world... These cheat economics aka ponzinomics always comes home to roost. Karma is a bitch... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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hisah wrote:That Business daily article was Posted on Tuesday, October 12 2010. We questioned the central planners on the same with @scubidu especially the fudging of the inflation model to force the rate downwards back in Feb 2010. I was maddened by the use of cheat tricks called hedonics on the same. I have seen the same in Asia and Western world... These cheat economics aka ponzinomics always comes home to roost. Karma is a bitch...
@hisah are you trying to say that the current inflation rate has been caused by the change in formula??? REALLY if we were on the old formula inflation the current rate would be 35% so I do not see your point at all. Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@guru - money supply... CBK needed a low rate so that they could have a reason to stimulate economy (print money)... With inflation rate fudged below their 5% threshold they had the green on flooding the banks with money... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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hisah wrote:@guru - money supply... CBK needed a low rate so that they could have a reason to stimulate economy (print money)... With inflation rate fudged below their 5% threshold they had the green on flooding the banks with money... yes @hisah you're right but are you suggesting that it is the cause of the current high inflation rate in kenya?? Other countries in africa that didnt change their formula also have high inflation rates and depreciating currencies... Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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@guru - KE is experiencing double whammy inflation (internal and external). UG also fudged their formula and they're getting it too. By fudging the inflation model, inflation got under reported as it worsened with the money supply flood devaluing the KES. Le Prof started devaluing KES even before bernanke went on a dollar printing spree. That was always going to come back and bite really hard... Also once bernanke went on dollar printing rampage last year in Aug 2010, that imported dollar inflation was going to nail everyone as commodities (soft & hard) rallied to multi year highs till Q2 2011. With all that dollar flood, the G10 econs have nothing to show of it and that forbidden word 'recession' is back on the media scene... This will force G10 members to try and devalue their currencies vs the dollar to try and stimulate exports. The euro has a big weight on the dollar index and when it devalues (8% at the moment) all currencies feel the heat especially those of the emerging world. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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@hisah what about when the crisis in Europe is finished and the 2012 politics in kenya is over and the rains bring harvest and the inflation rate goes back below 5% and the kshs is at 86bob to the USD... How will your current critism of the new inflation formula as one of the causes of the current fall in the currency and rise in inflation sound then?? Mark 12:29
Deuteronomy 4:16
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Rank: Member Joined: 2/20/2007 Posts: 359
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[quote=guru267]@hisah what about when the crisis in Europe is finished ...[/quote
Guru, that's not gonna happen any year soon. Things are really thick on this side n the globalized nature of western economies has left leaders pretty powerless if not clueless. It's a grim drawn out outlook.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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guru267 wrote:@hisah what about when the crisis in Europe is finished and the 2012 politics in kenya is over and the rains bring harvest and the inflation rate goes back below 5% and the kshs is at 86bob to the USD...
How will your current critism of the new inflation formula as one of the causes of the current fall in the currency and rise in inflation sound then?? I expect another inflation model manipulation to reverse the trend since the damage done by the KES devaluation can only be hidden by such a move. $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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