Sunday, March 2, 2014
Tuesday, April 2, 2013
On Apr 1, 2013, at 2:00 PM, Paula Humfrey wrote:
AK, following below is a manifesto to park in front of Eurozone Cease & Desist orders for bankers (also found below):
There was always destined to be a single trigger to bring down the Eurozone, which is recognized as an inherently unstable system. Cyprus appears to be pulling that trigger.
Derivatives will take down the entire zone very shortly, and the global cascade that follows this event will be immediate. There is no ‘ring fencing’, no preventative to ‘contagion’, when the exposure of even the smallest of Eurozone countries to bad gambling bets is laid open for all to see — absolute data indeed.
Instead of wringing our hands over the fact that personal bank deposits are now being forcibly confiscated, a battle that is now leading to bank failures and their consequent derivatives exposure, why don’t we instead accept the inevitable and use our collective power to push the boulder down the hill in the direction we’d prefer that it go?
Starting this wave of defaults will lay bare the massive exposures to astronomically 'valued' bad derivatives bets that can't possibly ever be paid. The massive leverage will quickly consume the entire system: we're talking hours or days, not weeks.
For the sake of its sovereignty, Eurozone countries' best bet is to default immediately on all foreign debts, derivatives and swaps. Let's stop the bankers in their tracks, this has gone far enough.
• • •
Here are the relevant drop box links:
All Cease and Desist files for all Eurozone countries except Ireland (plus Canada), in one .zip file link
Tuesday, February 5, 2013
Anonymous posts over 4000 U.S. bank executive credentials
Summary: Anonymous appears to have published login and private information from over 4000 American bank executive credentials its Operation Last Resort, demanding US computer crime law reform.
By Violet Blue for Zero Day | February 4, 2013 -- 07:28 GMT (23:28 PST)
Following attacks on U.S. government websites last weekend, Anonymous seems to have made a new "Operation Last Resort" .gov website strike Sunday night.
Anonymous appears to have published login and private information from over 4,000 American bank executive accounts in the name of its new Operation Last Resort campaign, demanding U.S. computer crime law reform.
A spreadsheet has been published on a .gov website allegedly containing login information and credentials, IP addresses, and contact information of American bank executives.
If true, it could be that Anonymous has released banker information that could be connected to Federal Reserve computers, including contact information and cell phone numbers for U.S. bank Presidents, Vice Presidents, COO's Branch Managers, VP's and more.
The website used in this attack belongs to the Alabama Criminal Justice Information Center (ACJIC). The page extension URL is titled, "oops-we-did-it-again."
The spreadsheet document contains usernames, names of individuals and their titles at banks across the U.S., hashed passwords (not passwords in plain text). It was placed on a .gov website and on Pastebin, and publicized via various Anonymous accounts on Twitter and Facebook.
A Reddit member called the numbers and commented,
OK, I called a few of them. What must be so problematic for the Federal Reserve is not the information so much as this file was stolen from their computers at all.
The ramifications of that kind of loss of control is severe.
Banks listed on the document claim credentials from management at community banks, community credit unions, and more, across the United States.
A visit to the bank websites on the document shows that these are current employees at each of the banks.
Anonymous stated in its first Operation Last Resort defacement last friday (ussc.gov) it had infiltrated multiple federal websites over a period of time. The hacktivist entity dropped enough technical details to make it clear that its tracks were covered and that Anonymous still had access to .gov websites.
Sunday, January 13, 2013
Bankers, Bradburys, Carnage And Slaughter On The Western Front
A little known historical fact that will collapse even further the reputation of the City of London.
ARTICLE | NOVEMBER 19, 2012 - 8:27AM | BY JUSTIN WALKER
As I start to write this article, today is Remembrance Sunday and I’m listening live to the sombre but magnificent strains of Elgar’s Nimrod as the parade at The Cenotaph assembles for the nation’s annual act of remembrance to the fallen. Like almost everyone else, I’m always humbled and moved by the veterans’ march-pass to pay their respects to fallen friends and comrades – but this year I will find it particularly poignant in the light of my recent research concerning a little known fact about the outbreak of the First World War. Let me explain.
Yesterday, I watched by sheer chance the spectacle of the Lord Mayor’s Show on television. This year’s parade for the inauguration of the 685th Lord Mayor of London, Alderman Roger Gifford, was no different from any other. As ever it was a combination of centuries old, corporate traditions, with floats and vintage vehicles representing the various Worshipful Companies, combined with local units from the armed forces along with enthusiastic and diverse community groups of children and young people. It was pageantry and modern day life parading together side by side to show off all that is best about our capital city.
|Alderman Roger Gifford, the new |
Lord Mayor of London, enjoying his big day.
Looking at this joyous and colourful scene on the streets of London, I was reminded of the fictional character Richard Hannay in John Buchan’s pre-First World War famous spy novel The Thirty-nine Steps. The final scene sees the hero Hannay confronting The Black Stone, the network of ingenious German spies who had morphed into the higher echelons of British society and had discovered, by the use of magnificent disguise and deception, the war-time dispositions of the Royal Navy. Having tracked them down to their secret lair on the Kentish coastline, Hannay is confronted by a scene of complete domestic normality. There is nothing about the Germans or the villa that could suggest anything other than a typical British upper middle class household at ease with itself enjoying a seaside holiday. But just one sudden flicker of recognition restored Hannay’s confidence that he had discovered The Black Stone.
Well, such a flicker of recognition also restored my confidence. As soon as I saw the giant wicker effigies of Gog and Magog on the parade, the mythical ‘protectors’ of the City of London, my confusion disappeared. The façade of decency and respectability was gone in an instant - the truth of what we were really looking at had once again been restored.
|Gog and Magog|
Sunday, December 30, 2012
Iran: Police announce more arrests around currency crisis
Source: Radio Zamaneh
The Tehran Police force has announced that 88 "gold and foreign currency brokers" have been arrested, as disputes have intensified between the Iranian government and the Central Bank over handling the crisis in the currency and gold markets.
Police officials reported today, December 30, that 88 people had been arrested for being engaged in the illegal and criminal handling of gold and foreign currencies, the Fars News Agency reports.
The detainees are charged with selling "fake gold coins, stealing money from their customers, and distributing counterfeit dollars and low-quality coins."
The possible distribution of $5 billion in counterfeit money was noted in Parliament in recent months.
The currency market has been highly volatile in Iran in the past several months, and the government previously had announced a number of arrests prior to this, also in connection with the fluctuations in the currency market.
Some MPs have accused the Ahmadinejad administration of deliberately keeping the foreign currency market in a state of fluctuation in order to make greater profit from the sale of state dollars.
The government has denied the allegations and blames the intensification of international sanctions for the steep fall in the national currency.
In first half of 2009, the dollar was traded in Iran at about 10,000 rials, but in the past year the exchange rate in the free market has risen to 35,000 rials.
EU and U.S. sanctions on Iran's oil and financial sector have reduced Iran's oil revenues by half, which has had a direct effect on Iran's foreign currency reserves.
... Payvand News - 12/30/12 ... --
Sunday, December 9, 2012
Sunday, October 7, 2012
|ARTIST: DANIEL J. ZOLLINGER|
Bankers warned: repent or go to jail
By James Moore
Monday, 1 October 2012
Britain's new chief financial policeman has issued a stark message to the City of London: "We have barely got started."
In an exclusive interview with The Independent, Martin Wheatley, the head of the new Financial Conduct Authority, warned that people who believe watchdogs are already too tough have "a big wake-up call coming".
Accusing bankers of avoiding responsibility for misconduct by hiding behind committee management, he raised the prospect of US-style prosecutions of senior executives: "In the future we want individuals held to account."
The FCA, which will replace the Financial Services Authority, will have the power to launch raids on City offices and bring criminal prosecutions. Mr Wheatley, pictured, who last week recommended that bankers who attempt to manipulate Libor face criminal prosecution, pledged to investigate and expose potential abuses in other sectors of the financial-services industry.
That could include the gold and silver markets, oil, foreign exchange and even agricultural commodities. "We will shine a light into a number of dark corners and we will have to take action depending on what we find," Mr Wheatley said.
The regulator also accused banks of mistreating their customers to an extent that would be unimaginable in other consumer businesses.
"The truth is that if our supermarkets in this country, if John Lewis, operated in a way that banks do, they wouldn't have any customers," he said. "If companies were operating in a way that was thinking about the long-term interests of their customers then you wouldn't need a heavy-handed financial regulation."
Mr Wheatley published his report into Libor interest rates on Friday which called for sweeping changes to the way they are calculated in the wake of attempts by traders at Barclays and other banks to fix them.
He said the roots of this and a string of other financial scandals came from "a deep, dark period" between 2005 and 2008.
"That was a horror period in terms of the way people were abused in their financial services. A lot of the things we are dealing with today – Libor, payment-protection insurance, interest-rates swaps – all of them go back to that period."
He attacked a mindset among banks that held that "you had to sell, you had to be earning by whatever means necessary" and pledged to force them to change their behaviour if they won't act themselves.
In addition to forcing changes to the way bankers are paid, Mr Wheatley also detailed how leaders will be held to account if banks fail in future.
This follows widespread public fury about the fact that no senior bankers have been prosecuted over the financial crisis and only two of the top bankers from the failed banks HBOS and Royal Bank of Scotland (RBS) were banned by the regulator: Johnny Cameron, from RBS, and Peter Cummings, from HBOS, who was also recently fined £500,000.
"If there are failures in the future we want individuals held to account," Mr Wheatley said, admitting that fining companies didn't work. "Ultimately the shareholders pay and it gets written off."
He will change this by forcing banks to assign personal responsibility for various functions to individual bankers.
Mr Wheatley said one of the chief reasons regulators have been prevented from acting in the past is because decisions are often taken by committee in banks, making it hard to assign blame.
"Society wants us not just to be ticking boxes, asking if people have been following the rules, but to be looking at outcomes and at what's going wrong and then taking action. That's what I've been brought in to do and that's what I will do."
He added: "Part of the industry appears to feel that it can abuse customer relationships time and time again without taking any impact from it."
Mr Wheatley gained a reputation as a hardliner in Hong Kong which has followed him to London and can be seen in last Friday's report into how to reform Libor interest rates, in which he had some hard words for the banking industry.