Rispondi a: Crisi economica mondiale

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Richard
Richard
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About the competing plans for a new financial system

A member of the “family” that controls the US, England, Canada, Australia, France and Israel has explained to me the competing plans for a new financial system now being discussed in secret.

One of the plans is the long rumored Amero. The idea is to unite Canadian resources and Mexican cheap labour with the US. This plan has many fatal flaws. First of all it would unilaterally take away Canadian sovereignty without consulting the Canadian people. Many Americans also do not want to compete with Mexicans for jobs flipping hamburgers. Furthermore, this plan calls for trading one US dollar for 10 Amero cents which would be a huge devaluation in disguise. This would devalue the dollar holdings of foreigners and would mean the US reneging on its debts.

A different plan now being pushed by a powerful faction in the committee of 300 is calling for an end to all special financial zones. This would mean the underground financial world (known to us by euphemisms such as private equity or hedge funds) would be united with the public financial world (all those fake numbers issued by corrupt institutions like the IMF and the Fed). This group also wants to finance a Marshal plan for the planet earth which would be great.

This plan has its merits but it would leave the same old war-mongering crooks in control. Furthermore, the world’s Mafias and other shady groups would be put out of business and since they are very dangerous people they are not likely to accept this without being given a new way of earning a living.

A third plan calls for trading dollars and Euros held by foreigners into a new trading currency. This currency would be issued in a manner transparent to all people and countries. The people who have been running the world with their dollar and Euro printing presses are strongly opposed to this plan because it would mean losing power.

If China and Russia and Germany and the Islamic countries went ahead and unilaterally announced a new currency the Satanists who rule the Anglo-French world would either have to go along with the new currency or watch their societies degenerate into chaos and revolution.

In exchange for accepting a new currency, some US and other countries debt could be written off and some exchanged for equity. This would allow those countries to reboot their economies and get their incredibly talented people back to work. This plan also calls for a Marshal plan for the planet aimed at ending poverty, war and environmental destruction within 3 years.
Japan also needs to take back control of the Bank of Japan. Doing this would allow the Japanese to once again invest their own savings in their own country, creating a huge boom.
In any case, as long as the staring match over the financial system continues, the real economy of the world will continue to plunge into dysfunction. Perhaps the Chinese are being too modest.
http://benjaminfulford.typepad.com/benjaminfulford/

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Crisi economia; Per banche Ue a rischio svalutazione 18mila mld
Roma, 18 feb. (Apcom) – Sarebbe pari a 18mila miliardi, vale a dire il 44% degli asset, l'entità degli attivi a rischio svalutazione per le banche europee. Questa la cifra contenuta in un documento segreto, preparato dalla commissione europea e discusso la scorsa settimana dai ministri delle Finanze dell'Ue riuniti all'Ecofin. Il documento, visionato da Milano Finanza, prevede che tali asset a rischio tossicità debbano essere sottoposti ad un test di “impairment” per verificarne la solidità o procedere ad eventuali svalutazioni. Il documento inoltre, a proposito di un intervento dei governi che dovrebbero farsi carico degli asset tossici, sottolinea che “le stime sul totale delle svalutazioni di asset suggeriscono che i costi di bilancio attuali e contingenti, di un rilievo di attività potrebbe essere molto ampio in termini assoluti e relativi rispetto al Pil degli stati membri”.
http://www.apcom.net/newseconomia/20090218_083800_105c6f8_56481.shtml

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China to be the first to recover from financial crisis

By Don Miller

China’s giant $585 billion (4 trillion yuan) economic stimulus package is showing signs of taking effect. Economists now project that China will be the likely leader of an elusive worldwide economic recovery.

Chinese banks heeded the government’s call to extend more credit to support the economy as they issued $237 billion (1.62 trillion yuan) in new loans in January, up a whopping 101% year-over-year, the People’s Bank of China said. The surge provides evidence that state-owned banks are heeding the government’s call to extend more credit to support the economy.

“The banks are fighting for the best projects in the government’s stimulus package,” Ha Jiming, chief economist of China International Capital Corp, told China Daily. “It’s not surprising to see that an array of the deals were sealed in the past month.”

The massive jump in lending is equal to about one-third of the loans issued in all of 2008, prompting some economists to say the government might discontinue cutting interest rates.

“The bank lending figures are just a stunningly good piece of news for China,” Glenn Maguire, chief Asian economist for Societe Generale in Hong Kong, told Reuters. …
http://english.pravda.ru/business/finance/17-02-2009/107112-China_financial_crisis-0

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http://english.pravda.ru/business/finance/16-02-2009/107107-European_banks-0

But, there are also a number of banks with an asset base that is disproportionately large mainly due to many overseas assets. Royal Bank of Scotland is a prime example. What this means is that the governments where these banks are domiciled cannot make credible guarantees regarding the institutions in question.

If we suffer a crisis of confidence and these banks come under attack, they become literally too big to rescue.

To give a few numbers, here are some examples in no particular order.

– Denmark – GDP: $312 billion; Danske Bank – Assets: $615 billion (197% of GDP)

– United Kingdom – GDP: $2.8 trillion; RBS – Assets: $3.8 trillion or 136% of GDP (with HSBC and Barclays this rises to $8.6 trillion or 226% of GDP)

– Switzerland – GDP: $313 billion; UBS and Credit Suisse – Assets: $3 trillion (958% of GDP)

– France – GDP: $2.6 trillion; BNP Paribas, Agricole, SocGen and Dexia – Assets ($6.7 trillion or 259% of GDP)

– Netherlands – GDP: $777 billion; ING – Assets: $1.8 trillion or 231% of GDP (with Fortis this rises to $2.9 trillion 385% of GDP)

– Germany – GDP: $3.3 trillion; Deutsche Bank Assets: $2.7 trillion (83% of GDP)

This list is far from comprehensive — it does not include Sweden, Ireland or Austria and it does not include other non-bank financial companies like Hypo Real Estate or Allianz. Germany is the best of the bunch, largely due to the size of its economy. But if you add in Commerzbank (incl. Dresdner), Postbank, WestLB, and the Landesbanks of Baden Wuerttemburg and Bavaria, you have a problem there too. And many of these German institutions are already having problems.

The data all comes from Data Monitor and the IMF.