Democratic Sen. Carl
Levin of Michigan, a leading advocate of the VolckeR
rule, said on "Meet the Press" that because of this mistake, Dimon and
other opponents of the rule "will lose their battle in Washingtonto
weaken the rule. That is the real price."
New information indicates that $15
Trillion was transferred in three
segments of $5 Trillion each via the Royal
Scotland Bank into the UK.
“I think we have to drive that activity
out of the bank
Ed Clark is ruffling some feathers.
In a television interview with Bloomberg
News that aired Monday, the chief executive officer of Toronto-Dominion Bank (TD-T79.91-0.60-0.75%) waded into the
debate on speculative trading and tighter bank restrictions, and he made his
positions quite clear.
Referring to risky trading, he said: “I think we have to drive that activity
out of the bank and say, “If you want to speculate, don't call yourself a bank,
call yourself a hedge fund.”
http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/if-you-want-to-speculate-dont-call-yourself-a-bank-td-ceo/article2432231/
In a television interview with Bloomberg
News that aired Monday, the chief executive officer of Toronto-Dominion Bank (TD-T79.91-0.60-0.75%) waded into the
debate on speculative trading and tighter bank restrictions, and he made his
positions quite clear.
Referring to risky trading, he said: “I think we have to drive that activity
out of the bank and say, “If you want to speculate, don't call yourself a bank,
call yourself a hedge fund.”
http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/if-you-want-to-speculate-dont-call-yourself-a-bank-td-ceo/article2432231/
“Given, frankly, the privileged role that we play in society, and I think it
is a privileged role,” he added, “then we should not... be speculators.”
He also made his position on Basel III unequivocal. “I’m a big advocate of Basel
III. I think the industry should be saying, ‘We want everyone to have lots of
capital, adequate capital, and we want [the banks] to have lots of liquidity.”
Bloomberg dubbed the segment “old-fashioned banking,” and many of Mr. Clark’s
statements made reference to returning to the old way of doing things. The way
he sees it, Basel III and the Volcker Rule are intended to get banks back to
their traditional businesses, and “I think there are some of us that cheer that
and think it’s fundamentally right.”
“Given, frankly, the privileged role that we play in society, and I think it
is a privileged role,” he added, “then we should not... be speculators.”
And just in case all of that wasn’t 100 per cent clear, for good measure he
threw in: “We’ve taken shareholder value added to the extreme.”
The television segment can be found here – but
be warned, it makes Canadians seem... folksy, what with our love of hockey and
our spelling of ‘centre.’
Some of the quotes mentioned above did not air on television, and were taken
from a transcript posted on Bloomberg.
As for some balance, keep in mind that in the fourth quarter of 2008, TD
announced after tax credit trading losses of $350-million.http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/if-you-want-to-speculate-dont-call-yourself-a-bank-td-ceo/article2432231/
III. I think the industry should be saying, ‘We want everyone to have lots of
capital, adequate capital, and we want [the banks] to have lots of liquidity.”
Bloomberg dubbed the segment “old-fashioned banking,” and many of Mr. Clark’s
statements made reference to returning to the old way of doing things. The way
he sees it, Basel III and the Volcker Rule are intended to get banks back to
their traditional businesses, and “I think there are some of us that cheer that
and think it’s fundamentally right.”
“Given, frankly, the privileged role that we play in society, and I think it
is a privileged role,” he added, “then we should not... be speculators.”
And just in case all of that wasn’t 100 per cent clear, for good measure he
threw in: “We’ve taken shareholder value added to the extreme.”
The television segment can be found here – but
be warned, it makes Canadians seem... folksy, what with our love of hockey and
our spelling of ‘centre.’
Some of the quotes mentioned above did not air on television, and were taken
from a transcript posted on Bloomberg.
As for some balance, keep in mind that in the fourth quarter of 2008, TD
announced after tax credit trading losses of $350-million.http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/if-you-want-to-speculate-dont-call-yourself-a-bank-td-ceo/article2432231/
CORPORATE TRUST
The bet that went horribly wrong
Chemical Bank
Those leaving are Ina Drew, who since 2005
has run the risk-management unit that is responsible
for the losses;Ms. Drew had a steady ascent after she joined Chemical Bank,
one of the predecessor companies at JPMorgan Chase, in 1982.
http://news.yahoo.com/report-3-jpmorgan-executives-resign-204933877--finance.html
ROYAL LAW ?????
ATTORNATUS PRIVATUS
Counterfeiting of documents
Main article: Forgery
Forgery is the process of making or
adapting documents with the intention to
deceive. It is a form of fraud, and is often a key technique in the
execution of identity theft. Uttering
and publishing is a term in United States law for the
forgery of
non-official documents, such as a trucking company's time
and
weight logs.
Questioned document examination is a scientific
process for investigating many aspects of various documents, and is
often
used
to examine the provenance and verity of a suspected
forgery. Security printing is a printing industry specialty, focused on creating
legal documents which are difficult to forge.
Main article: Forgery
Forgery is the process of making or
adapting documents with the intention to
deceive. It is a form of fraud, and is often a key technique in the
execution of identity theft. Uttering
and publishing is a term in United States law for the
forgery of
non-official documents, such as a trucking company's time
and
weight logs.
Questioned document examination is a scientific
process for investigating many aspects of various documents, and is
often
used
to examine the provenance and verity of a suspected
forgery. Security printing is a printing industry specialty, focused on creating
legal documents which are difficult to forge.
career dealmaker and architect
form of deliberate capital destruction
The bet that went horribly wrong for JPM, which has led the U.S. banking
lobby’s noisy opposition to banking reforms post-meltdown, was conceived and
botched by a sophisticated, computer-modeled system put in place by CEO Jamie
Dimon, a career dealmaker and architect of unwieldy financial conglomerates who
has no business running a straightforward bank.
At this writing, investors in J.P. Morgan Chase have lost more than $10
billion in shareholder value as JPM’s stock has plunged a stunning 8 per cent in
early trading. More worrisome, in overnight trading elsewhere in the world
following Dimon’s disclosure of JPM’s ineptitude, bank stocks globally have
abruptly shed tens of billions of dollars in stock market value.
It is a sector that still doesn’t understand it’s playing with fire every
time it fails to resist the temptation of a quick buck on, in this case,
“synthetic credit products.” That’s a fancy term for a wager on crowd sentiment
as it affects a financial instrument the bettor doesn’t actually take possession
of and is held fleetingly enough that what it consists of exactly isn’t fully
known.
Dimon’s timing, to put it charitably, could not have been more perfectly
horrible.
lobby’s noisy opposition to banking reforms post-meltdown, was conceived and
botched by a sophisticated, computer-modeled system put in place by CEO Jamie
Dimon, a career dealmaker and architect of unwieldy financial conglomerates who
has no business running a straightforward bank.
At this writing, investors in J.P. Morgan Chase have lost more than $10
billion in shareholder value as JPM’s stock has plunged a stunning 8 per cent in
early trading. More worrisome, in overnight trading elsewhere in the world
following Dimon’s disclosure of JPM’s ineptitude, bank stocks globally have
abruptly shed tens of billions of dollars in stock market value.
It is a sector that still doesn’t understand it’s playing with fire every
time it fails to resist the temptation of a quick buck on, in this case,
“synthetic credit products.” That’s a fancy term for a wager on crowd sentiment
as it affects a financial instrument the bettor doesn’t actually take possession
of and is held fleetingly enough that what it consists of exactly isn’t fully
known.
Dimon’s timing, to put it charitably, could not have been more perfectly
horrible.
The Fed: Mend It or End It?
by Ron Paul
Last week I held a hearing to examine the various proposals that have been
put forth both to mend and to end the Fed. The purpose was to spur a vigorous
and long-lasting discussion about the Fed's problems, hopefully leading to
concrete actions to rein in the Fed.
First, it is important to understand the Federal Reserve System. Some people
claim it is a secret cabal of elite bankers, while others claim it is part of
the federal government. In reality it is a bit of both. The Federal Reserve
System is the collusion of big government and big business to profit at the
expense of taxpayers. The Fed's bailout of large banks during the financial
crisis propped up poorly-run corporations that should have gone under, giving
them a market-distorting advantage that no business in the United States should
receive. The recent news about JP Morgan is a case in point. JP Morgan, a
recipient of $25 billion in bailout money, recently announced it lost another
$2 billion. If a corporation shows itself to be a bottomless money pit of
"errors, sloppiness and bad judgment," the Fed shouldn't have expected $25
billion in free money to change that or teach anyone a lesson in fiscal
discipline. But it determined that this form of deliberate capital destruction
was preferable to one business suffering bankruptcy. Clearly, some changes need
to be made.
SpookdFebruary 22, 2012 7:42
PM
New information indicates that $15
Trillion was transferred in three segments of $5 Trillion each via the Royal
Scotland Bank into the UK.
There is also a link to Indonesia, and to
Riyadi in Indonesia.
Key to the transfer were Timothy Geitner, then
President of the NY Federal Reserve Bank;
There have also been a series
of unusual resignations of senior officials from key international
banks.
We'll be tying all these pieces together to see if we can
establish a pattern, and an audit of how much of the $15 Trillion was laundered
through their banks.
It appears this operation is slowly unraveling, and
the conspirators will be identified -- if not brought to justice.
To counterfeit means to illegally imitate something. Counterfeit products
are often produced with the intent to take advantage of the superior value
of the imitated product. The word counterfeit frequently describes
both the forgeries of currency and documents,
We learn from Reuters [but not the WSJ, the NYT or the WashPost, or any other US
news source other than Yahoo] that the Italian police have seized US$6 Trillion
in in US Treasury bonds.
"Police videos showed images of
the trunks,
with "Federal Reserve System, Treaty of Versailles"
stamped on the side
in large, golden letters. Bond certificates
marked 'Chicago, Illinois,
Federal Reserve Bank' and other
securities, some for one billion dollars,
were also shown."
Officially, these
bonds have been designated by US authorities as fake.
But, are they
really? Or, were they accidentally discovered by Italian, Swiss, and US
authorities working on an international criminal investigation who had not been
clued in to the massive secret transfer of Federal Reserve Notes and bonds in
2008-2009 by the Fed.
The value of those transfers was approximately
US$16 Trillion, a tidy sum for which there has never been an adequate
accounting.
Last month, we commented on a similar find and police
seizure in July, 2009, which received a flurry of very brief coverage.
$134 Billion in US Bonds Seized -- What's
the Story?
And we
promised to get back to you when we learned more.
In our original
story, it appeared the seized bonds were part of the $16 Trillion the Fed had
transferred surreptitiously to Europe between late 2008 and 2009. Although the
US Government authorities [i.e., the Fed] declared the bonds to be fake, it
appeared rather that these bonds were real and had been diverted from the US
Fed bailout of 2009. [Officially, the counterfeits were "hard to distinguish
from the real th
Will they be remembered as the three biggest scam artists in US history?As far as we can tell, the Fed failed to coordinate the transfer of these funds with Congress, although it
appears IToccurred following conversations between Bernanke and Obama prior to
Obama's Inauguration.
It also appears that AIG was the conduit through which These financial packages were transferred to Europe; we're not sure which other financial institutions were involved, although one destination was most certainly Switzerland since the "Fake Bonds" keep turning up there.
Interestingly, bond traders at Morgan Stanley and Citigroup found this episode amusing and joked about it -- as they declared it essentially irrelevant. These would likely be be the same shysters who laughed as the US financial system was destroyed in 2008 -- so there may be merit in taking a closer look at them come January 2013 with Eric Holder's
replacement.
As for counterfeiting the bonds, we recall Operations Andrew and Bernhard, the Nazi counterfeiting operations which created nearly £150 million [about
US$600 Million then] during WWII with the intent of creating inflation in
England. The notes were virtually indistinguishable from the real thing, and
after WWII, the counterfeit notes found their way into Israel, which used them
to bankrollthe new country [to the great annoyance of the Brits].
Interestingly, the Nazis originally planned to fly over England and drop
millions of these notes into the countryside, thus creating inflation.
Counterfeiting of money or government bonds
This section requires expansion.
Main article: Counterfeit money
Counterfeit money is
currency that is produced without the legal sanction of
the state or
government and in deliberate violation of the laws thereof; the United
States Secret Service, better known as the
official
bodyguard detail for the President and/or the Vice President of the
United
States, their families, and/or other officials/dignitaries and/or their
families, was initially organized primarily to combat the counterfeiting of
American money; counterfeit government bonds are public
debt instruments that
are produced without legal sanction, with the
intention of "cashing them in" for
authentic currency or using them as
collateral to secure
legitimate loans or lines of
credit.
Helicopter
Ben
Nearly 70 years later, Fed
Chairman
Bernanke was dubbed "Helicopter Ben" when he proposed the same
solution to the
wrecked economy, i.e., fly over the countryside and throw
out millions of
dollars from a helicopter.
The counterfeiting
of US currency, though
details remain secret, was effectively carried out
following the theft of a
trainload of the special paper on which US
currency was then printed -- making
the counterfeits virtually impossible
to detect.
The same
counterfeiters, drawn from prisoners at
Auschwitz and Mauthausen-Gusen, likely
continued to create counterfeit
currency after the war.
Interestingly,
the nexus of financial
transfers for the counterfeit instruments was South
Tyrol, Northern Italy, in the same Swiss border region as the current operation
--
Chiasso.
So, counterfeit or real?
We're going with real on this
operation since Chiasso has been the distribution point for illicit [vs
counterfeit] money laundering operations for the last 50 years or so. Looks
like an excellent place to launder real bonds, and move legitimate money
into
Swiss bank accounts -- for when Bernanke, Geithner, and Obama retire
from the
US Government.
As for the US officials who identified the
bonds as
"counterfeit" who were from the Fed -- they would have plenty of
'splainin" to do if they admit the bonds are
real.
[Credibility Check:
I
worked as an intelligence
analyst at the State Department (INR)
researching and analyzing international
banking/finance and money
laundering; my assessments in NIEs provided the basis
for the Money
Laundering Control Act of
1986.]http://spookdblog.blogspot.ca/2012/02/forged-bonds-or-real-stuff-accidentally.html
Ben
Nearly 70 years later, Fed
Chairman
Bernanke was dubbed "Helicopter Ben" when he proposed the same
solution to the
wrecked economy, i.e., fly over the countryside and throw
out millions of
dollars from a helicopter.
The counterfeiting
of US currency, though
details remain secret, was effectively carried out
following the theft of a
trainload of the special paper on which US
currency was then printed -- making
the counterfeits virtually impossible
to detect.
The same
counterfeiters, drawn from prisoners at
Auschwitz and Mauthausen-Gusen, likely
continued to create counterfeit
currency after the war.
Interestingly,
the nexus of financial
transfers for the counterfeit instruments was South
Tyrol, Northern Italy, in the same Swiss border region as the current operation
--
Chiasso.
So, counterfeit or real?
We're going with real on this
operation since Chiasso has been the distribution point for illicit [vs
counterfeit] money laundering operations for the last 50 years or so. Looks
like an excellent place to launder real bonds, and move legitimate money
into
Swiss bank accounts -- for when Bernanke, Geithner, and Obama retire
from the
US Government.
As for the US officials who identified the
bonds as
"counterfeit" who were from the Fed -- they would have plenty of
'splainin" to do if they admit the bonds are
real.
[Credibility Check:
I
worked as an intelligence
analyst at the State Department (INR)
researching and analyzing international
banking/finance and money
laundering; my assessments in NIEs provided the basis
for the Money
Laundering Control Act of
1986.]http://spookdblog.blogspot.ca/2012/02/forged-bonds-or-real-stuff-accidentally.html
1913
A PRIVATE CORPORATION OWNED BY EUROPEAN BANKERS
FEDERAL RESERVE ACT GAVE THE AUTHORITY FOR EUROPEAN BANKERS TO ISSUE US CURRENCY
FEDERAL RESERVE ACT PRIORITIES THAT ALL PRE 1913 US DEBT WOULD BE ASSUMED BY THE FEDERAL RESERVE
PACIFIC STOCK TRANSFER 2000
SECRETARY OF STATE
FRANKIE SUE DEL PAPPA
CAPITAL COMPLEX
CARSON CITY NEVEDA 88710
HOLDER OF AN OLD AND EXTREMELY VALUABLE GOLD CERTIFICATE
SEPT 8 1994
IN COMPLIANCE WITH CONSTITUTIONAL COMMON LAWS OF THE STATE OF ILLINOIS
DECEASED AND
NOTICE
OF
"NO TAXABLE ESTATE
"AN AMERICAN INDIAN "
RUSSELL HERRMAN
RUSSELL HERRMANN
RUSSELL HERMAN
RESIDENT OF OAKVILLE
COUNTY OF
WASHINGTON
STATE OF ILLINOIS
VK DURHAM -EXECUTRIX
ATTORNEY IN FACT
WITNESSED BY DR ANDY NICKOLAW
9693 CAMININTO
SAN DIEGO
