Showing posts with label Bonds. Show all posts
Showing posts with label Bonds. Show all posts

Thursday, July 31, 2014

Argentina Default Imminent as Talks Collapse

http://online.wsj.com/articles/argentina-bonds-rise-to-multiyear-highs-on-prospect-of-deal-1406728458

Argentina Default Imminent as Talks Collapse
Setback Sends Argentine Shares Down in After-Hours Trading

By NICOLE HONG, TAOS TURNER and MATT DAY CONNECT
Updated July 31, 2014 3:45 a.m. ET

Argentina faces default Wednesday for the second time in 13 years if it doesn't meet a deadline to make payments to a small group of bondholders. WSJ's Matthew Cowley explains Argentina's dispute with these creditors and the long-standing battle that stems from the country's default in 2001. (Photo: Getty Images)

Argentina teetered on the brink of its second default in 13 years after talks with bondholders collapsed late Wednesday.

The setback, after glimmers of hope in recent days that a last-minute agreement could be reached, immediately sent Argentine stocks plunging in after-hours trading.

Still, there remained the possibility that talks could resume and a deal could eventually be reached.

At a press conference after talks with a court-appointed mediator ended Wednesday, Argentine Economy Minister Axel Kicillof, who had led the country's delegation to New York, said "we won't sign an agreement that would compromise Argentina's future." A spokeswoman later said negotiations would continue, without giving a timetable.

"Default is not a mere 'technical' condition, but rather a real and painful event that will hurt real people," said Daniel Pollack, the mediator, in a statement late Wednesday. He added, "The full consequences of default are not predictable, but they certainly are not positive."

The development is the latest turn in a years long battle between Argentina and a small group of hedge funds that have demanded full payment for bonds the country defaulted on in 2001. Argentina has refused to pay, despite an order by a U.S. District Court judge requiring it to pay the hedge funds. The issue came to a head Wednesday as Argentina missed a deadline to make a payment it owed to other bondholders, because the court order had prevented such a move.

Monday, June 2, 2014

Benjamin Fulford - June 2, 2014: Pope Francis pushes for one world religion as Western elite hits the panic button



More data, the views below are solely Ben Fulford's but some interesting data in this one... -AK



http://benjaminfulford.net/2014/06/03/pope-francis-pushes-for-one-world-religion-as-western-elite-hits-the-panic-button/


Monday, June 2, 2014

Benjamin Fulford - June 2, 2014: Pope Francis pushes for one world religion as Western elite hits the panic button

During his recent trip to the Middle East, Pope Francis was able to get agreement from Muslim and Jewish authorities for a unified monotheism but was unable to convince the Orthodox Christians, according to P2 Freemason sources.

As the Pope visited the Middle East, the head of the Italian P2 Freemason lodge was in the Philippines where he tried to cash six bonds, including the one pictured here:



These 15 quadrillion dollar bonds are supposed to be backed by “King Solomon’s tunnel of gold,” according to the P2.

The White Dragon Society suggested to the P2 that they start by bringing just one kilo of gold to generate cash to bring over more kilos of this mythical gold. The WDS also suggested the Orthodox Christians might be more open minded about unity when the mass murder stops in places like Syria, the Ukraine, Iraq and Afghanistan.

The push for a one world religion comes as a series of public and private pronouncements by Western elites makes it clear that there is panic in the ranks of the Nazi/Zionist leadership.

As this report was going to press, King Juan Carlos of Spain announced he was abdicating his throne, thus joining the King of Belgium, the Queen of the Netherlands, and pope maledict in quitting recently.

Tuesday, February 21, 2012

US$15 TRILLION ENDS UP AT THE ROYAL BANK OF SCOTLAND


I came across this strange tale by Lord James on the theft of assets from one of Indonesia's richest men by Timothy Geither and Alan Greenspan and the subsequent incoming wire transfers for 15 trillion dollars to England. That's more money than the entire USA national deficit budget! These numbers are so huge its hard for a working man to wrap their heads around it. But the inability to wrap one's mind around the sum involved does not make it untrue. But I'll let Lord James relate the tale in the delightful English manner that I could never duplicate on my own:



------------------------------

House of Lords

Lords Chamber Meeting started on Thursday 16 February at 11.04am. Ended at 6.39pm

Lord James of Blackheath (Conservative)


My Lords, I hope the minute that that has taken has not come off my time. I do not wish noble Lords to get too encouraged when I start with my conclusions but I will not sit down when I have made them. I will then give the evidence to support them and, I hope, present the reasons why I want support for an official inquiry into the mischief I shall unfold this afternoon. I have been engaged in pursuit of this issue for nearly two years and I am no further forward in getting to the truth.

There are three possible conclusions which may come from it. First, there may have been a massive piece of money-laundering committed by a major Government who should know better. Effectively, it undermined the integrity of a British bank, the Royal Bank of Scotland, in doing so. The second possibility is that a major American department has an agency which has gone rogue on it because it has been wound up and has created a structure out of which it is seeking to get at least €50 billion as a pay-off. The third possibility is that this is an extraordinarily elaborate fraud, which has not been carried out, but which has been prepared to provide a threat to one Government or more if they do not make a pay-off. These three possibilities need an urgent review.

In April and May 2009, the situation started with the alleged transfer of $5 trillion to HSBC in the United Kingdom. Seven days later, another $5 trillion came to HSBC and three weeks later another $5 trillion. A total of $15 trillion is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland. We need to look to where this came from and the history of this money. I have been trying to sort out the sequence by which this money has been created and where it has come from for a long time.

It starts off apparently as the property of Yohannes Riyadi, who has some claims to be considered the richest man in the world. He would be if all the money that was owed to him was paid but I have seen some accounts of his showing that he owns $36 trillion in a bank. It is a ridiculous sum of money. However, $36 trillion would be consistent with the dynasty from which he comes and the fact that it had been effectively the emperors of Indo-China in times gone by. A lot of that money has been taken away from him, with his consent, by the American Treasury over the years for the specific purpose of helping to support the dollar.

Mr Riyadi has sent me a remarkable document dated February 2006 in which the American Government have called him to a meeting with the Federal Reserve Bank of New York, which is neither the Federal Reserve nor a bank. It is a bit like "Celebrity Big Brother". It has three names to describe it and none of them is true. This astonishing document purports to have been a meeting, which was witnessed by Mr Alan Greenspan, who signed for the Federal Reserve Bank of New York of which he was chairman, as well as chairman of the real Federal Reserve in Washington. It is signed by Mr Timothy Geithner as a witness on behalf of the International Monetary Fund. The IMF sent two witnesses, the other being Mr Yusuke Horiguchi. These gentlemen have signed as witnesses to the effect that this deal is a proper deal.

There are a lot of other signatures on the document. I do not have a photocopy; I have an original version of the contract.

Under the contract, the American Treasury has apparently got the Federal Reserve Bank of New York to offer to buy out the bonds issued to Mr Riyadi to replace the cash which has been taken from him over the previous 10 years. It is giving him $500 million as a cash payment to buy out worthless bonds. That is all in the agreement and it is very remarkable. Establishing whether I have a correct piece of paper is just two phone calls away-one to Mr Geithner and one to Mr Greenspan, both of whom still prosper and live. They could easily confirm whether they signed it. Mr Riyadi, by passing these bonds over, has also put at the disposal of the US Treasury the entire asset backing which he was alleged to have for the $15 trillion. I have a letter from the Bank of Indonesia which says that the whole thing was a pack of lies. [stating] He did not have the 750,000 tonnes of gold which was supposed to be backing it; he had only 700 tonnes. [it claims] This is a piece of complete fabrication.

Finally, I have a letter from Mr Riyadi himself, who tells me that he was put up to do this, that none of it is true, and that he has been robbed of all his money. I am quite prepared to recognise that one of the possibilities is that Mr Riyadi is himself putting this together as a forgery in order to try to win some recovery. But it gets more complicated than that because each of the $5 trillion payments that came in has been acknowledged and receipted by senior executives at HSBC and again receipted by senior executives at the Royal Bank of Scotland. I have a set of receipts for all of this money. Why would any bank want to file $5 trillion-worth-$15 trillion in total-of receipts if the money did not exist? The money was first said to have come from the Riyadi account to the Federal Reserve Bank of New York and from there it was passed to JP MorganChase in New York for onward transit to London. The means of sending it was a SWIFT note which, if it was genuine, ought to have been registered with the Bank of England.

When this came about, I took it to my noble friend Lord Strathclyde and asked what we should do with it. He said, "Give it to Lord Sassoon. He is the Treasury". So I did, and my noble friend Lord Sassoon looked at it and said immediately, "This is rubbish. It is far too much money. It would stick out like a sore thumb and you cannot see it in the Royal Bank of Scotland accounts". He went on to say, "The gold backing it is ridiculous. Only 1,507 tonnes of gold has been mined in the history of the world, so you cannot have 750,000 tonnes". That is true. The third thing he said was, "It is a scam", and I agree with him. The problem is that at that point we stopped looking, but we should have asked what the scam was instead of just nodding it off.

We have never resolved it. Today, I have this quite frightening piece of paper, which is my justification for bringing it into this meeting. It is available on the internet and I am astonished that it has not already been unearthed by the Treasury because every alarm bell in the land should be ringing if it has. It is from the general audit office of the Federal Reserve in Washington-the real Federal Reserve-and its audit review to the end of July 2010 on the Federal Reserve Bank of New York. It has on it some 20 banks listed to which $16.115 trillion is outstanding in loans. That is the sore thumb that was being looked for by my noble friend Lord Sassoon. But more particularly there are two other interesting things. The first is that Barclays Bank has $868 billion of loan, and the Royal Bank of Scotland has $541 billion, in which case one has to ask a question, because they could have earned back in three weeks their entire indebtedness and could pay off the taxpayers of Britain. Why have they not done so and could we please ask them to put a cheque in the post tonight for the whole $46 billion?

The next thing that is wrong with it is that every bank on this list, without exception, is an MTN-registered bank, which means that they are registered to use medium-term notes to move funds between themselves with an agreed profit-share formula, in which case these banks are investing this money and, most extraordinarily, not a penny of interest does the Federal Bank of New York want paid on that vast amount, $16 trillion. Anyone who knows what the IMF rules are will immediately smell a rat. The IMF has very strict rules for validating dodgy money. There are two ways of doing it. You either pass it through a major central bank like the Bank of England, which apparently refused to touch this, or you put it through an MTN-trading bank, which is then able to use the funds on the overnight European MTN trading market where they can earn between 1 per cent and 2.5 per cent profit per night. The compound interest on that sum is huge. If it is genuine, a vast profit is being made on this money somewhere.

I believe that this is now such an important issue that I have put everything that I have got on the subject on to a 104-megabyte memory thumb. I want the Government to take it all, put it to some suitable investigative bureau and find out the truth of what is going on here, because something is very seriously wrong. Either we have a huge amount of tax uncollected on profits made or we have a vast amount of money festering away in the European banking system which is not real money, in which case we need to take it back. I ask for an investigation and for noble Lords to support my plea.

Hansard source (Citation: HL Deb, 16 February 2012, c1016)

Update: 2/26/12 A very interesting commentary on this speech by Lord James can be found here:
http://sirratatap.com/category/banking/2-19-12-corrupt-banking-at-the-highest-levels/