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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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murchr wrote:NEW YORK (AP) — Calling it perhaps the biggest money laundering scheme in U.S. history, federal prosecutors charged seven people Tuesday with running what amounted to an online, underworld bank that handled $6 billion for drug dealers, child pornographers, identity thieves and other criminals around the globe. The case was aimed at Liberty Reserve, a currency transfer and payment processing company based in Costa Rica that authorities say allowed customers to move money anonymously from one account to another via the Internet with almost no questions asked. U.S. officials said the enterprise was staggering in scope: Over roughly seven years, Liberty Reserve processed 55 million illicit transactions worldwide for 1 million users, including 200,000 in the U.S. The network "became the bank of choice for the criminal underworld," http://newsok.com/7-char...546661?custom_click=rss
What a joke by the regulators...
It is in public domain that the likes of Stanchart PLC, HSBC etc have already been fined record amounts recently for participating in money laundering activities, drug money etc. Why are these banks still in operation yet Liberty Reserve has been shutdown? $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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AfDB to create large fund for African infrastructure investment - http://www.reuters.com/a...a-idUSL5N0E93UY20130528
Quote:The AfDB is financing around $8 billion, including $5 billion for the infrastructure projects in Africa, the adviser of the President of The AfDB, Youssef Ouedraogo said on the margin of the bank's annual assembly.
"There are many wealthy sovereign funds in Africa and among our members, so we will try to negotiate some interesting loans" he said.
The bank would get funds from Libya, which will become an active member, Algeria, Equatorial Guinea and Botswana. There we go, that sovereign funds keyword... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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hisah wrote:murchr wrote:NEW YORK (AP) — Calling it perhaps the biggest money laundering scheme in U.S. history, federal prosecutors charged seven people Tuesday with running what amounted to an online, underworld bank that handled $6 billion for drug dealers, child pornographers, identity thieves and other criminals around the globe. The case was aimed at Liberty Reserve, a currency transfer and payment processing company based in Costa Rica that authorities say allowed customers to move money anonymously from one account to another via the Internet with almost no questions asked. U.S. officials said the enterprise was staggering in scope: Over roughly seven years, Liberty Reserve processed 55 million illicit transactions worldwide for 1 million users, including 200,000 in the U.S. The network "became the bank of choice for the criminal underworld," http://newsok.com/7-char...546661?custom_click=rss
What a joke by the regulators...
It is in public domain that the likes of Stanchart PLC, HSBC etc have already been fined record amounts recently for participating in money laundering activities, drug money etc. Why are these banks still in operation yet Liberty Reserve has been shutdown? Those are Too Big To Jail  GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:hisah wrote:Rand weakness back to GFC levels! What is Mr Market saying about SA...  This rand thing is going to get it in the chin. The SA GDP print today is very weak. The SA CB (SARB) will be forced to stimulate the econ and that means cutting the funding rate. Definitely USDZAR cross is heading past the 10 handle. I continue to remain long USDZAR until the SA econ shows signs of recovery. Meanwhile JSE is at all time highs. This divergence, weak rand, weak econ and bullish JSE is going to converge and JSE will take it in the chin just like that rand. USDZAR - cracks the 10.00 handle. JSE stocks still in utopia. The divergence will skin alive wanjikus there... Best hedge would be JSE gold index i.e. sell rand and shield in gold until the storm passes. $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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Getting some of this XUII. $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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hisah wrote:hisah wrote:hisah wrote:Rand weakness back to GFC levels! What is Mr Market saying about SA... This rand thing is going to get it in the chin. The SA GDP print today is very weak. The SA CB (SARB) will be forced to stimulate the econ and that means cutting the funding rate. Definitely USDZAR cross is heading past the 10 handle. I continue to remain long USDZAR until the SA econ shows signs of recovery. Meanwhile JSE is at all time highs. This divergence, weak rand, weak econ and bullish JSE is going to converge and JSE will take it in the chin just like that rand. USDZAR - cracks the 10.00 handle. JSE stocks still in utopia. The divergence will skin alive wanjikus there... Best hedge would be JSE gold index i.e. sell rand and shield in gold until the storm passes. 
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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KE MPs faceoff with GoK - www.businessdailyafrica....2/-/wdjwfuz/-/index.htmlI'm beginning to like the politics. When wolves eat each other, the goats benefit... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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African infrastructure fund 'could reach $50bn' http://www.engineeringne...d-reach-50bn-2013-05-31
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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After the gold rush by Roubini - http://www.project-syndi...bble-by-nouriel-roubini
Gold is yet to hit that hated investment zone by investors for a proper bottom to kick in. But it's getting there. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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