Bluff on Wall Street and City of London
printBluff on Wall Street and City of London
Bluff and Fraud on Wall Street and in the City of London
I wrote some time ago that almost all banks, hedge funds, insurance and re-insurance companies and investments funds are bankrupt, considering the following facts.
Banks showing and pretending profits on the account of Tax payers
The big investment banks show again big profits and pay billions of bonuses to investment bankers on the account of affairs with State bonds and other securities paid by Tax Payers of USA and England and finally by all investors of the world.
Reason and proof: The profits of those banks are a fake and a bluff because those banks and hedge funds were never forced to record in their books the depreciation on lost values with junk-papers and they never were forced to book provisions for future risks in trillions of Dollars or Pounds.
Fraud with FASB and other accounting principles
In the USA, government allows application of FASB accounting principles. This means that derivative shine-values in form of packages, like ABS, CDO, CMO and CDS and several other derivative "securities" without any value, can be stated in New York investment or other Banks at former market value - high above future net realizable cash.
Same goes for all criminal accounting principles applied in England, France, Germany, Switzerland, Italy, Singapore - in fact in all countries with Stock Exchanges.
However for these collateralized papers without any security and false insurance, nobody can tell, what person or companies were the original debtors, all hidden behind a curtain of a Wall Street Chaos, created by mathematicians out of Stockholm and Chicago School. Nobody can tell either, what the criminal securities and guarantees are (subprime and other tumbled mortgages, bets on futures, former fantasy-values at stock exchanges etc.) - behind those trash-shares, still floating in trillions around the globe, in pretended values of Dollar currency.
Real fact: They come today nearly to zero at market value, but are maintained as assets in the portfolios and bank balance sheets at values, near to 100 percent of purchase prices of the year 2007 - under FASB and any other laws of State.
An army of 10000 of the best accounting experts (perhaps reborn out of Arthur Andersen and other helpers-helper of orthodox geniuses) should re-construct the background of collateralized Junk, better known as Derivative Finance instruments of greed, invented by some orthodox idiots, mainly at Wall Street, City of London and Zurich. - And world's tax-free billionaires under spell of tax-paradises, won't take over the charge either. They leave the charge to Middle Class and the Poor.
Effect of Fraud and Bluff at World's Stock Exchanges
It is easy: As I predicted, the breakdown of banks, insurance companies, hedge funds and investments funds, including old age insurance etc. have not even started. Before ALL of the junk Papers in trillions of "Value" in all balance sheets of the world are not corrected down to nearly zero, all finance institutions of the world are quasi-bankrupt - although all stock exchanges of the world show again one deadly hype after the other.
Never in history of humans, so many idiots of criminals around Cheney and GW Bush, on the principles of Popper, Friedman and Schwab, have governed the true reality of nations, banks, companies, Davos, FED and SEC and IMF and Worldbank etc., when they organised during the same period of neo-conservatism, another world-crime, by allowing for the richest scrap some tax paradises, whereas lost masses of folks, not only in USA and China, are thrown down to hell by misery, started at U.S. Wall Street, on accelerated scale, soon.
All Governments and Media of the world know about these facts
You cannot open one Newspaper or listen to any TV-Station, without such tones being found, mostly hidden at the end of long articles, including high enthusiasm about the new hypes and bluffs at Wall Street, London, Frankfurt, Zurich, Chinese, Russian, Indian, Brazil, Singapore etc. Stock Exchanges.
The Nations and their governments who have allowed that accounting bluff and stock exchange fraud, know to 100 percent what they are doing, what sort of accounting principles they allowed to be applied by the bankers and their famous accounting firms, when at the same time they threw the savings of all future generations of tax payers away, with trillions in rescue packages, without any thorough effect on the present situation - as future will show----
And nobody knows who shall restore the situation before the end of crime and bluff, before gigantic towers of debts have been built by persons, companies, banks and nations - to the charge of our children and their own children, whose neck was broken by their own parents through democrazy and freedom for neo-conservative intellect.
Truth is - the worst of the ugly game is coming in the years 2010 to 2015
Since the major economic fact is: Heavily overstated amounts in accounting that cannot disappear from Banks' balance sheets and will be forced under any circumstance to be corrected in future (there is no other way out of facts, unless tax payers take again over the purchase of this trillions-scrap), the whole system of finance, and thus the whole bluff and fraud at Stock Exchanges, all the "recovery" of World Economy, will go to hell - 10 times worse than seen after 1929 Crash in America.
Rene Delavy, Berlin and Bournemouth
Author of "Chaos" / "USA - some other Rogue-State" / "What's the difference between Obama and GW Bush?" / "Brown, Sarkozy, Merkel are perpetrators, not saviours" / "Middle Class and Poor continue paying taxes for richest VIP" etc.