Zero results from Science Heroes after 3 years Breakdown
printZero results from Science Heroes after 3 years Breakdown
2009 - No real solutions against Finance-Break after 3 years
Since 2006, the beginning of the breaking down of Finance industry, followed by a clash of real economy - still in its starting phase in Mai 2009, nothing has been done to correct the terrible situation in a globalised money-world.
Governments in the USA, England, France, Italy, Germany and other places have gone and new have come - and nothing changed by one jota with facts. We have new heroes like Obama, Geithner, Bernanke, Sarkozy, Berlusconi and other geniuses. None of them understands anything about financing, the nature of securities, floating still around in all accountings of all banks, insurance, funds and depots of this world, at values high, high above real future market value.
Most of those CMO, CDO, ABS, CDS and other junk should have been valued long before 2006 by U.S. and other Rating Agencies with CCC, zero value. Nothing has been done of this sort.
Having still the same Chaos in the greedy Stock exchange world of "Shareholder value first", let's talk about the true criminals in this game until this very day:
U.S. Rating Offices as Symbol
The U.S. Rating Agencies Fitch, Moody's and Standard and Poor's valued all Junk-Papers, all Wall Street Investments Banks, inclusive Lehman Brothers and Bear Stearns, at Triple A or perhaps A+. Same for insurance companies like AIG. Same was the case some years before with Enron and Worldcom and Swissair. Since these criminals were paid by the ones, the papers of which they had to handle and issued to make profits themselves, they cheated the world by a total amount of far over 100 trillion of Dollars, still maintained in Mai 2009 in all books of all companies on this planet.
And still, these Rating Criminals try to have the allowance to continue their business as if nothing had happened, like done in the past, slightly corrected by idiotic programs of mathematics, instead of brains of little children without intellect. Great - exactly this is what Obama meant by "change" and "yes, we can!"
Wall Street investment banks and other over-valued institutions
These banks show again first Quarter 2009 profits, based as written in some other text about the proofs for mafia-like accounting of the worst. They are allowed to state their junk securities per trillions in their accounts at original values, instead of actual market value. In addition they show only the sunny side of their accounts, not recording one provision for future risks. And the losses were taken over by nations and now either taken out by a dirty trick of presented accounting period - or else they found their Trash-Papers were (for minor parts) taken over by Obama's U.S. Bad Banks, financed by Middle Class and Poor, bearing the loss of Investment bankers.
In Europe, the governments demand from banks to increase their very low OWN CAPITAL BASIS, better known by professionals as net equity of the banks. This is a fake: By increasing their equity by 20 to 50 percent, nothing will happen, in view and when compared with the gigantic losses, not recorded yet, in the portfolios of all banks, investment and hedge funds and insurance activities. And the downfall will be worsening by "value-losses" in normal companies like industry, international trade, import-export, commerce, consulting, tourism, traffic, production of cars and planes and all the rest.
So, 3 years after the start in 2006 of the most criminal act in economics of all times, based on globalisation by the factor of 10 higher in effect than the one of 1929 and for sure much longer lasting, nothing has been made to resolve the major problems. All is one big bluff of accounting and illusive action-taking.
And all this represents cosmetics in favour of U.S. government, the bluffers around Obama, Brown, Sarkozy, Merkel, Berlusconi, Hu and Wen and all the responsible idiots in FED, SEC, IMF, Worldbank, WEF, in all national banks of all countries, assisted in their misery of brainless knowledge by most childish CEOs in normal and bad banks, underfinanced insurance companies and other rotten finance vehicles on this lost planet.
The major criminals in present economics
The major responsibility was NOT - as Newspapers and other media pretend since 2006, in the hands of eager investors who were green of Greed when asking for papers with 30 percent of profit per year.
The major criminals were NOT the banks, not even the ones in New York or City of London, not Merrill Lynch, Goldman Sachs, JP Morgan, Lehman Brothers, AIG, Bear Stearns, UBS, Joe Bank in Frankfurt, Societe Generale or any other idiotic money service devices in New Europe, China, Russia or Mechanic School, eager to get immense fees and bonuses when reaching out for the biggest business with going public based on false figures, lying about background with billion fantasy-mergers and other criminal acts in trillions of values.
Be sure, the known and unidentifiable "packed securities" ABS, CMO, CDO and CDS, worked out by investment banks, Dynamite Prize mathematicians, other geniuses with the brain of little children and other bluffers in Oval Offices, were only a small part of the criminal act.
Not even the ones who were allowed to invent and bring into the world-wide stock and money-market some subprime mortgages and other bets on raw material, energy stuffs, scales of stock exchanges and on CASINO bets of nothing, are the real criminals of the present situation about a real existing total loss of your savings.
Not even the totally stupid Rating Agencies of New York were the major criminals.
The major criminals were the U.S. congress and its governments since Ronald Reagan, over Bill Clinton, over GW Bush to Obama Barack. Major criminals were all the U.S. Presidents, their Vices, their ministers, FED and other non-existent control systems, in the hands of free market idiots, believing like in a God of Rome in some terrorist brains of higher philosophy, some of them got the Prize of Dynamite.
Philosophical background mastered by Dynamite Prizes honours
All important VIP chosen by dull folks, crept in some you-know-what of philosophers like Karl Popper, Fukuyama, Huntington and worse. All of them believed in the holly capabilities of economy-crooks like Milton Friedman, Sachs, Greenspan, but also Keynes who might have been right for times around the Middle Ages. However, in modern times with trillion Dollar losses and State indebtedness, deficits of nations, and living in a globalised free-capitalism world in all societies, his concepts taken over by the Western world, will prove to have been deadly for all nations and economies on this lost planet.
So, it was the philosophy of neo-liberalism (known in USA as neo-conservatism) that was the starting point for the final breakdown of all systems, we are now living in since Ronald and Margaret. In the meantime, some other idiotic greedy humans started to believe in fairy-tales of money-making out of the nowhere, when even the Chinese, Koreans, Japanese, Russians and other idiots financed the U.S. citizens' idiocies of consumerism for the last 15 years with trillion of Dollars - and never asked the right questions.
Governmental illusions with a terrible game, known as "Bad Banks" - for dull folks
Today, believing in increase capital basis in EU banks, believing in the idiocy of socializing the trillions in losses of banks and insurance, gone out of control and gas, with help of funny State "BAD BANKS" and other dirty tricks to the detriment of Middle Class and Poor, should be a wise solution, when the rich VIP continue not paying taxes with models of legalised funds, trusts, Stiftungen, Swiss finance companies and number accounts (called otherwise today), all governed by the best Obamas and Steinbruecks of this world, more precisely their expensive lawyers in 50 Tax Heaven places, in New York, Los Angeles, Chicago, London, Paris, Zurich, Geneva, Vaduz, Frankfurt, Rome, Madrid, Tokyo etc.
This system of Crooks, governed by all congresses in this lousy world, is driven by the efficient motor of all the important Accounting Firms, thousands of them, but above all the BIG FIVE of this world, having thousands of tax consultants in charge, doing nothing else, still today, but show rich companies and persons, how NOT to pay taxes to their bankrupt nations, where the unjust profits, taken from the masses of dull folks, were generated originally. Let them finance the profits, the losses of the criminal banks - and all the taxes for infrastructure and armies in Iraq, Afghanistan, Chechnya and some other nice coins of the Earth, being in free fall just now.
Mentioned were the trillions in zero-values given in Bad Banks on basis of Subprime Junk out of the USA plus all Casino bets made by Wall Street from 2003 to 2007. But equally dangerous are:
- Any securities, shares, bonds etc. that nobody wants to buy today or in the future
- Credits to persons or firms worldwide not being able to pay back the cash granted
- Financing of shipping, car-, plane- or other industrial business that goes down to hell now
- Rotten credits to persons and institutions like Hedge funds, no longer identifiable
- Treasury bonds of States today quasi-bankrupt or getting from year to year more broke
- Credits given to Communes, Towns, Counties, any State vehicle not generating enough funds
- Investments given for construction business - mainly for commerce and industry
- Useless Credits for monster-walls and energy fantasies in emerging Bluff States
and millions of other lost credits worldwide, in all lands on Earth, gone completely out of any control of States, banks, investors.
Conclusion
Under these premises, folks, send your governments, inclusive the present U.S. one, down the drain. Their bluffs about "Change", "Yes we can - we can administrate the downfall of banking and economy business", "All is fine, we will have a new Hype at Stock Exchanges soon, without changing one cent in the Balance Sheets of the big banks, investments funds, insurance companies, old age and private depots" - and other wisdom, mothers should sing as sleeping pill to their children, before we are being drawn over the table, when losing flat, job, savings and the last bit of respect and honour.
My god, I think humanity deserves the mess all nations are in just today. The fine VIP of this world had planned it for the last 20 years. And with these Media, governments, banks and industry, we just deserved the going down the drain of nations in a chaos of finance, false expectations, illusions in plane and car business and all the rest of habits of greed and vanity.
And so be assured: the formula "Power x Stupidity = Self destruction" did never leave any other outcome, in this sort of economic and political human history.
Rene Delavy, Berlin and Bournemouth
Author of "CHAOS" / "Power x Stupidity = Self destruction" / "Middle Class and Poor continue paying the taxes of rich VIP" / "The debacle of the first 100 Days - Obama" / "Liberal Crime in finance is a world-war - just by other means" etc.