Tuesday, October 25, 2016
Banca Monte dei Paschi di Siena is the oldest bank in the world and the Italian third largest commercial and retail bank by total assets. Founded in 1472 by the magistrate, the city state of Siena, Italy as a "mount of piety". A mount of piety is an institutional pawnbroker run as a charity in Europe from the Late Middle Ages, till today. Well it looks as if personal property of the bank will be in a pawn shop. Back in June on the 29th of 2007 BMPS (stock symbol) was $2040.74 on Sept 30th, 2016 she crashed down to 0.19 (cents) that would get ya to jump off the roof.
On 25 June 1999, Banca Monte dei Paschi di Siena was listed successfully on the Italian Stock Exchange. BMPS had some aggressive growth from 2000 to 2006 but as the world knows it we come to the financial crisis of 2008 and BMPS is no exception to the rule of the Betty Crocker Cook Books. (bad loan portfolio) In 2009, the Santorini and Alessandria operations began creating huge losses. In order to hide them in the bank's financial statements, the top management, including Giuseppe Mussari, the bank president, chose to enter into derivative contracts with Deutsche Bank (Oh crap, we know how they're doing) and Nomura Securities International Inc.
There has been many plans put into the works to recapitalize the bank but all have failed from 2008. A Black Hole if there ever was one, today BMPS will slash 2,500 jobs, reduce staff costs by about 10 per cent and close 500 of its 2,000 branches over the next three years. That's always the plan when you're going down, Sears has been doing the same thing for years. But the many things BMPS has going for it that Sears has not is the banking cartel, drug cartel for laundering services, (Italy leagalizse duges and prostatution for GDP) the Vatican, printed money and the country of Italy herself piled on the backs of the people, just like always reverse allocation. If this bank fails they're all going down sooner then expected. The banks need WWIII to rest and it was already suppose to happen, it was thought the banks could float the boat, not happening. China and Russia are holding off WWIII.
So BMPS @ 0.30 yesterday, is it time to buy? Who said you have to work for 40 years and bust your ass till you're old, the Monopoly Board said. Be a better player for the gig is up, if BMPS goes down they're all going down and at which point what would it matter.
FTSE MIB Index the Italian national stock exchange
Friday, October 21, 2016
|Moody's stock price at close 10/21/16|
The U.S. government is eating their own, no surprise this is happening to Moody's. Standard & Poor's, and Fitch Ratings will not be off the radar for the financial collapse of 2008, it's not off the Betty Crocker cookbooks. The pools of debt that the agencies gave their highest ratings included over three trillion dollars of loans to home-buyers with bad credit and undocumented incomes from the year 2000 through 2007. Hundreds of billions of dollars' worth of these securities were downgraded to "junk" status by 2010, the rating agencies designated theses securities at triple-A. The U.S. government ended up buying $700 billion of this bad debt from what they called distressed institutions. By December 2008, there were over $11 trillion structured finance securities outstanding in the US bond market debt. Not only is the Justice Department going to file complaints but attorneys general of a number of states have indicated that they expect to pursue similar claims under state law.
The reason I mention the U.S. government eating their own is because they're broke. The pools of money that flowed into theses institutions during the crisis is all that is left on the table in real taxable income created from debt. Can you imagine what it cost to run the U.S. government per year? During the year 2015 the U.S. government took in $3.25 trillion from taxes and fees (like the DOJ suing) but yet the spending was $3.7 trillion, a deficit of $450 billion.
At this point the printed money sham connected to zero to negative rates by design going on around the world of countries that can print their own money is not enough because this money is received as debt on a balance sheet at interest. The main reason the Fed has not raised rates because the players will not be able to afford 50 basis points (1/2 percent) on this heroin money, they are addicted. This shows the economy has not recovered from the crash of 2008, it's only been propped up from plunge protection teams. History shows us when the banks are failing in a monetary system because of debt, which always has been since inception, these institutions and governments take us to war. This cancels the debt from the profits of war.
Here is some easy help. #1, do not support these criminal institutions that has turn banking into a casino and fraud... #2, do not support any government dragging you into war. I always get the question, 'what can I do?' Support true business that has you and community interest as a whole. The consumer is two thirds of the economy, without that support flawed banks and crony business are left sucking air.
Mark Twain — 'It's easier to fool people than to convince them that they have been fooled.'
Friday, October 14, 2016
|It will be alright, she had to go, we can rebuild.|
Greg Hunter of USA Watchdog goes through this week which was just a barn burner, from Wikileaks on Clinton, the war escalating in the Middle East and of all things HSBC warns the world of a severe crash in the market. At this point HSBC is no longer credible, they will add to the fall like all the other big banks will drop like a rock as customer base leaves and when Mama (the Fed) stops the feeding frenzy. The real problem is Bozo's Circus (the monetary system) is in panic mode and what happens when a spoiled brat loses a game? That's right, he or she will flip the game board and the pieces scatter all over the table. So as we turn our backs on the Midway, hanging on to what's left of the Cotton Candy and bringing the Pinwheel into the garage for repair, we'll continue to enjoy the show as this barn burns.
The 'crony criminal class' has created a major collusion of fraud but fear not, because Greg Hunter will inform you, make you laugh and lift your spirit, the man makes a habit of it.
Enjoy The Show
Thursday, October 6, 2016
|Hurricane Matthew the Monster|
Blue Battery: What do they mean by taking pictures of your pets because many are not micro-chipped..? Wouldn't people be packing their pets with them?!
Red Plane: Most Floridians eat their pets once the bath salts wear off nd the storm clears. Its tradition there. Not sure what this reporter is going on about. (that's just raw)
Rowow: I don't understand whats the fuss. We are preparing hurricane parties down here if that's what they mean. (must be a surfer)
Matthew and Nicole
Surface Winds @ 120 km/h = 74.5 mph
Tuesday, September 20, 2016
Chairman of the board and CEO John Stumpf is his own boss at Wells Fargo. Elizabeth Warren unleashed a verbal barrage at Stumpf on Tuesday, calling the embattled bank boss "gutless" and demanding he step down. "You should resign. You should be criminally investigated," Warren told Stumpf during a fiery one-sided exchange at the Senate Banking Committee's Wells Fargo hearing.
There's evidence that Wells Fargo drilled the marketing team for customers to have mutable accounts with the bank which many were forged without the customer knowing, completely illegal. As many as eight products were forced on customers where the normal is three, like a credit card, savings and checking. But for Wells and other banks tied into cross marketing of bank products one ask the question what kind of profit can that create for the banks? Well some customers complained of late fees on accounts they did not know they had, which in turn will lower ones credit score. With lowering your score you will be punished by higher interest rates and for a long term on millions of accounts around the world think of the money made just on the interest increase from this new banking scam. The mechanics behind this scam would pull money from existing accounts and create new ones forging the costumes signature creating Pin numbers which in turn created overdraft fees from insufficient funds in the newly created accounts without customers knowing or consent. WTF!
Warren slammed Stumpf for failing to fire any senior executives linked to the scandal, while Wells Fargo's aggressive sales tactics helped pump up the bank's stock price. She said Stump's personal holdings of Wells Fargo stock increased by more than $200 million while the fake accounts "scam" was going on, thanks in part to the bank's success in selling tons of products to customers that they didn't need. "You squeezed your employees to the breaking point so they would cheat customers and you could drive up the value of your stock and put hundreds of millions of dollars in your own pocket," Warren said.
Well Fargo it would serve you right if every customer dumped all your products and run your well dry.
Senator Elizabeth Warren's two round of questions for Wells Fargo CEO John Stumpf at the September 20, 2016 Senate Banking Committee hearing entitled: "An Examination of Wells Fargo’s Unauthorized Accounts and the Regulatory Response.
Senator Elizabeth Warren
John Oliver on Wells Fargo
Seems that the bandage Stumpf was wearing on his right hand at the congressional hearing was from carpal-tunnel, writing all the fake e-mails of forged customer accounts. One of Stumpf's brilliant comments from an interview, "you can't teach caring and you can't teach sharing".
Bye - Bye Stumpy!
John Oliver Last Week Tonight
Monday, September 5, 2016
An explanation of this new book, Jacob:
"Encompassing a wide range of topics, this book discusses issues and perspectives relevant to today’s time and manner of thinking. With a philosophical approach, the book attempts to break down the process of thinking and analyzes the regard for certain commonly held viewpoints. Likewise, it offers perspectives to situations in the interest of providing an alternate regard for them and awareness to possibilities outside the standardized norm".
Jacob has been collaborating with me for many years on many subjects and became close friends. From the first time reading one of his articles it struck me that this man doesn't complain or moan about the drama in our society but offers tools for a fix that can adjust our course sensibly.
Enjoy the book
Tuesday, August 30, 2016
|Burning Man 30th Birthday|
Burning Man is a laboratory. Not every experiment works, but we’ll never know if we don't try. A city in the desert. A culture of possibility. A network of dreamers and doers. The ultimate goal of Burning Man is to encourage the culture of creativity.
In 2012 Burning Man became a nonprofit with the intention of amplifying and extending Burning Man culture. As a year-round site, Fly Ranch has the potential to expand Burning Man Project’s activities and existing programs, and amplify Burning Man’s cultural impact into the wider world beyond Black Rock City, Nevada.
Burning Man Fly Ranch
30th Burning Man
Once a year, tens of thousands of people gather in Nevada’s Black Rock Desert to create Black Rock City, a temporary metropolis dedicated to community, art, self-expression, and self-reliance. In this crucible of creativity, all are welcome. Burning Man isn't your usual festival. It's a vibrant participatory metropolis generated by its citizens.
Aug 28th to Sept 5th, 2016
Burning Man The Event
Burning Man 2016
Tired n' Tested
The Man Burns
Burning Man on Saturday September 3rd 2016.