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Archive for March, 2013

How to cause a run on your bank #EU #bonkers #mad #losttheplot #banks #bailin

March 26, 2013 Leave a comment

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wm-license-information-description-missing wm-license-information-description-missing-request European stars.svg (Photo credit: Wikipedia)

EU to push for losses on big savers at failed banks: lawmaker | Reuters.

If you needed further evidence that Euro politicians are stark raving bonkers, this must be it.

Basically if you avoided the big financial crisis of the past few years, by saving your money away in a bank, this could be your reward!

How much longer before good bank, bad bank and the state run bank.

Common sense, find a politician with it #couldbeawhile

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IMF Chief Christine Lagarde’s Home Searched by French Police #Bloomberg #lagarde

March 20, 2013 Leave a comment

Christine Lagarde, Managing Director, Internat...

Christine Lagarde, Managing Director, International Monetary Fund (Photo credit: Wikipedia)

 

IMF Chief Christine Lagarde’s Home Searched by French Police
2013-03-20 14:36:23.313 GMT

By Mark Deen and Sandrine Rastello
March 20 (Bloomberg) — French police today searched the
home of Christine Lagarde, the managing director of the
International Monetary Fund, the Paris prosecutor’s office said.
The Cour de Justice de la Republique, which
investigates ministers’ actions in office, is looking into
whether former French finance minister Lagarde erred in agreeing
to an arbitration to end a dispute with businessman Bernard
Tapie, a supporter of Former President Nicolas Sarkozy.
Tapie won a 385 million-euro arbitration award in damages
to settle his dispute over his company’s sale of German
sportswear brand Adidas AG. Tapie claimed Credit Lyonnais
mishandled the 1993 sale and pursued a claim against the
formerly state-owned bank’s liquidator.
The court opened its investigation into whether there was
“complicity in forgery” or “complicity in misuse of public
funds” in the case in 2011, soon after Lagarde became head of
the IMF.
“It would not be appropriate to comment on a case that
has been and is currently before the French judiciary,” said
Gerry Rice, the Director of the External Dept of the IMF.
“Prior to its selection of the Managing Director, however, the
IMF’s Executive Board discussed this issue and expressed its
confidence that Madame Lagarde would be able to effectively
carry out her duties.”

 

 

Workers Saving Too Little to Retire – WSJ.com #interestrates #crisis #pensions #inflation

March 19, 2013 Leave a comment

Workers Saving Too Little to Retire – WSJ.com.

Recipe for disaster

1) low-interest rates

2) fewer jobs (growth in internet & technology)

3) growing population

4) middle classes taxed to the hilt

5) rampant REAL inflation

6) governments obsessed with reducing borrowing

7) politicians (with gilt-edged pensions) out of touch with reality

Common sense, end this obsession with reducing

Retirement

Retirement (Photo credit: Wikipedia)

government debt.

Are you sure you are taxing the right people? #Anstasiades #Cyprus #ransom #Gazprom

March 18, 2013 Leave a comment

Location of Cyprus in European Union. Territor...

Location of Cyprus in European Union. Territories, controlled by Northern Cyprus, are highlighted. (Photo credit: Wikipedia)

Gazprom Offers Cyprus Bank Restructuring Deal to Avoid EU Bailout | Greece.GreekReporter.com Latest News from Greece.

Something fundamentally wrong here?

A Russian corporate is offering to save a nation, by bailing them out in exchange for potential rights to their gas deposits.

Isn’t it plainly obvious who windfall taxes should be aimed at?

Clue: it isn’t the people who have already paid tax on their savings!

Common sense, don’t kick the lifeblood of your country into touch!

If you didn’t believe me, read this #savings #interest rates #Cyprus #breakdown #robbery

March 18, 2013 2 comments