The incredible Easiness of miraculous Bank-profit making
printThe incredible Easiness of miraculous Bank-profit making
Dear Experts in Economics. Some matters can only be presented as a GLOSS, if truth wants to be written.
Some Investment Bankers in New York, presented by proud Truth Media of USA, made profits in the 1st Quarter 2009. Great! Let's see how they did it:
Goldman Sachs, Merrill Lynch, JP Morgan, Citigroup and Lehman Brothers
Well, Lehman-Brothers only took zero value, as is true, in their balance sheets - because they did it before, the cheating, they were PLEITE before 1st quarter 2009.
The same is actually true with the others - Goldman, Lynch, Morgan, Citigroup etc.
Their auditors KPMG Klienfield, Peatmen, Mean Mickey, Gorduler, Prize, Water, House, Coopers, Young Ernst and Don't Touche me Moodys, decided to apply the new Accounting rules of Obama, Geithner and Greenspan, which is:
"Take the original purchase value for ABS and CDO with an amount of 1000 Dollars one security - and the small profit, due to zero interest loans from USA taxpayers MUST produce a profit."
My audit gave: the Value in average is 69 Dollars, 88 Cents and half a Penny - not 1000 Dollars. And then, you must deduct an expense in form of a provision of 116 Dollars for the efforts of the accounting firms, in restating the Portfolio of Junk in Billions of "Value".
AIG, Zurich Versicherung, Munich Ruck, Swiss Re et les autres
Well, they have plentiful of CDS in trillions, all around the Globe. In fact, over 100 trillions Dollar, but not one portfolio in the accounting of any Insurance possesses the value, they pretend. Would all these geniuses state on basis of "True and fair view of values" - all of them would be bankrupt on the spot. But Geithner said: "Let's discuss the question with Summers, Krugman and Soros and Buffett, without Gates - and all will be fine."
Deutsche Joe Bank, UBS, CS and Swiss Private Bankers
With Deutsche Joe Ackerman, it's simple: They have most of Junk of all Deutsche banks, but Joe leaves all at value of purchase of 1000 Marks a title- instead of 90 Marks, 3 Pfennige and half a heap of Dog.
With UBS and CS and Swiss Private Crooks, it’s the same, with exception of UBS.
UBS is the most honest BANK of the World: They show in the 1st Quarter of huge loss, because they have written-off the Rest Junk, on securities of ABS and CDO not given by 40 billion to Swiss tax payers, over Nationalbank of Schweiz. On the rest-package, about 5 percent of depreciation instead of 50 percent, and the salaries of 8700 investments bankers, dismissed only after the 1st quarter - well this official explanation for a loss to March 31----
Friends of no mercy, what do you still want to know? That all banks, insurances, re-insurances, old ages, Hedge funds, investment funds and private depots are zero in value and empty in brains?
Error: The brains of World governments inclusive Parliaments of Brown, Merkel, Sarkozy, Berlusconi, Putin etc. are empty, when allowing cheat accounting all over the globe.
Rene Delavy, Berlin and Bournemouth
Author of "Nice to have it" / "Should banks be honest?" / "Putin has better banks than Hu and Wen" / "Flowers in all accounts of World Finance Crash" etc.