Friday, April 01, 2016

Secret ECB Docs Warn Of More Financial Mayhem on the Horizon

by Phil T Looker, finance commentator.

A recent agreement between the European Central Bank (ECB) and the central banks of the Eurozone member nations raises the prospect of EU taxpayers being forced to pay for more bailouts, German newspaper Die Welt reports.

 The ECB's publication of its Agreement on Net Financial Assets (ANFA) with the 19 central banks of the Eurozone, which has previously been restricted circulation, raises more questions than it answers, Die Welt reported on Thursday 31 March.

"Under public pressure the ECB released its billion euro agreement at the beginning of February. But what was meant to silence the debate around supposedly prohibited state funding has triggered more debate," Die Welt reported.

This concurs with the views I have expressed in our publications for several years. The global economy is hollow, all major currencies are underwritten by debt, there is no substance to any of the statistics regularly pumped out by governments. Things have become so desperate recently that banks and governments are seriously discussing Negativ Interest Rate Programs (NIRP) a system in which people like you and me, if we are lucky enough to have savings on deposit with banks will, instead of receiving interest on our investment, instead pay the bank for holding our money.

We have already had interest rates held at zero or close to zero for several years. This has failed. Quantitive Easing Printing money) has failed. There is nothing left that they can squeeze.

The ANFA controls the amount of financial assets national central banks of the Eurozone may hold in order to carry service national obligations not directly related to monetary policy, which is controlled at European level by the ECB.

"The ANFA agreement, and particularly the Emergency Liquidity Assistance (ELA) loans can be used to provide loopholes for central banks to rescue banks, for example when some insolvent banks are kept above water by poorly secured emergency loans," Philipp Konig from the German Institute for Economic Research (DIW) told the paper. "These loans are really only supposed to be short-term help for illiquid banks. However, we have seen in both Greece and Ireland that national central banks have considerable leeway."

 Financial expert Daniel Hoffman said that there are currently 346 billion euros ($394 billion) of securities purchases on the balance sheets of national central banks, hiding under nebulous terms like "other securities" or "other assets," beyond the limit specified by the ANFA.

"After the rescue of bankrupt states and the multibillion euro purchase of government bonds, it will be the next taboo in the Euro system," Hoffman warned.


The Reality Of Globalism - World Trade Has Increased By Less Than 1% Annually In The Last Decade

There can be little doubt that 2016 was the year the great pushback against globalisation and the push towards an authoritarian world government (NWO) really got off the ground. Fears that the world is on the edge of rejecting globalization and a global economy, with its false promise of prosperity for all and its reality of an ever widening gap between rich and poor have dominated ...

Smart Phones Will Not Make Banking Safer
Yet the war on cash goes on. The latest move is to encourage people to use their smartphone to do their online banking. My first reaction on reading this was, "They're having a laugh aren't they?" laptops and tablets are ridiculously easy to hijack, smartphones don't even need to be hacked, like tired old slappers whose sexual allure has gone south, but who still crave attention, they will offer themselves without needing to be asked.

What Is A Globalist? - Globalim Explained

If you have been following political trends you will probably be bored with the words "globalist" and "globalism" which tend to be bandied about a lot. In fact the advocates of globalism far from being the social justice warriors of their imagination, are avid supporters of the establishment, centralisation of authority, the abolition of free speech, social engineering and all the socio - economic policies well - read people associate with fascism rather than liberalism.

Globalization: The False Narrative and The Death Of Western Steel Industry
In popular perception, the downfall of the steel industry in Britain, Europe and the USA symbolizes the decline of manufacturing industry in the developed world more clearly than any other of the past half century's economic trends. Over the past few months in Britain two of the last remainings blast furnace steel manufacturing plant, Redcar in North East England and Port Talbot in South Wales have been in the news, both were threatened with closure, in both cases that would have had dire consequences for the local economies. Similar stories have been played out in Germany, France, Sweden, Italy and, most drastically in the USA where the area dubbed 'the rust belt ...

War On Cash Gathers Momentum - Germany Unveils Cash Controls
Poland: Are New York 'Wall Street Whores’ Working With Eurofascists Against Democracy
Baltic Dry Index Crashes. The Global Economy Is Coming To A Standstill
Debt: The Developed World Has Lost Touch With Economic Reality
Should The U.S. Government Default On Its Debt And What Will Happen If It Does
Corporate Banker's $1.5 Quadrillion Conspiracy: EU Accuses 13 Banks Of Operating A Derivative Trading Cartel
China launches global yuan payment system
War on cash gathers momentum - Germany unveils cash controls

Elsewhere: [ The Original Boggart Blog] ... Daily Stirrer ...[Little Nicky Machiavelli]... [ Ian's Authorsden Pages ]... [Scribd]...[Wikinut] ... [ Boggart Abroad] ... [ Grenteeth Bites ] ... Ian Thorpe at Flickr ] ... [ Tumblr ] ... [Ian at Minds ] ... [ Authorsden blog ] ... [Daily Stirrer News Aggregator]

The Hope That Springs Eternal?

Today I was privy to and exchange on a news site not publicly available, a Hillary Clinton cultist was opining about how great things would be when silly Hilly is president. Somebody else pointed out a few of Mrs Clinton's shortcomings (like dishonestly, hypocrisy, megalomania etc...) concluding with the way the hypocrite lectures on 'green issues' while her campaign accepts shitloads of money from fossil fuel corporations.

The next comment observed that Hilly's poll numbers are dropping while those of Bernie Sanders are going up. Hope springs eternal the comment author said.

I, being one of those people who thinks Hillary Clinton and her husband are totally despicable human being who make Donald Trump look like Pollyanna and Vlad The Impaler like Tinkerbell, would love to see Bernie grab the Democrats nomination. Alas I fear the fix was in a long time ago for Hillary, as it was in 08 for Obama.

Which prompted me to post this pearl of wisdom from the late, great Ian Dury: "The Hope What Springs Eternal Springs Right Up Your Behind"

Video: Ian Dury and The Blockheads: This Is What We Find (the hope what springs eternal springs right up your behind)



Trump, Sanders: The Anti-Globalists

While most candidates for the US Presidency are political hacks guaranteed to follow the party line, the success of Bernie Sanders and Donald Trump reflects how angry American voters are with the ruling elite, and how dangerous a situation the USA is in

Elsewhere: [ The Original Boggart Blog] ... Daily Stirrer ...[Little Nicky Machiavelli]... [ Ian's Authorsden Pages ]... [Scribd]...[Wikinut] ... [ Boggart Abroad] ... [ Grenteeth Bites ] ... Ian Thorpe at Flickr ] ... [ Tumblr ] ... [Ian at Minds ] ... [ Authorsden blog ] ... [Daily Stirrer News Aggregator]