Sunday, 12 October 2008


yo!...let there be light..!...innit!

PALOOKAVILLE FINANCIAL stardate capitilation day+24

...western banks are under attack from the forces of deflation...they shares is sinkin fast as... f*cker wants em...

...smoke an mirrors was used to create an ilussion o BOOM an nah itz BUST...

...alla kings orses an alla kings men atta meetin...tryin ta put humpty dumpty...
...back together agin..

...trouble gone itz alla cos o lies an stuff...

...banks bin lyin...govment bin lyin...

market ticker : ..."The short version of The Genesis Plan is:
  1. Everyone must expose their balance sheet; all Level 2 and 3 assets must be declared and all models disclosed in full immediately and every quarter hereafter.
  2. The CDS monster must be caged by forcing it onto an exchange where O/I and margin supervision can be maintained. This is already in process and must be completed.
  3. Leverage must be returned to no more than 12:1 across the system - no exceptions.

liam : ..."Wholesale money markets won’t start operating freely again until all banks are forced – by law if necessary – to declare the entire extent of their exposure to sub-prime, default swaps and any other loss-making position.

Such “full disclosure” will hurt some banks very badly. Chief executives will be sacked, reputations crushed, and more institutions will fail. But, with the Government standing ready with finance to prevent systemic meltdown, such “creative destruction” must happen – with stronger banks taking over the weak. That’s how capitalism works. The system needs to be purged. And until it is, it’s a myth to think the inter-bank market will work...." sunday times


liam : Let’s call time on spiralling national debt

..."All these multibillion dollar bail-outs are pushing Western governments closer to bankruptcy. Iceland shows it can happen. OK, Iceland is small and its authorities have been particularly remiss, but it’s an advanced nation — not a tinpot banana republic. A rubicon has been crossed.

Credit default swaps on the sovereign debt of some Western nations have shot up. The markets don’t yet think the likes of Italy and Spain will go bust, but the chances are growing they could.

So dire is America’s fiscal health that even technology can’t cope. Last week, the digital clock in New York’s Time Square, which shows the US national debt, symbolically ran out of digits. It was first installed in 1989, when the country’s debt was $2.7 trillion – a 13-figure number. Now the total is $10.3 trillion, the display is simply too small.

As this column has previously argued, we need such a clock in Britain. Some moneybags short-seller should give something back, sponsoring one in London’s Piccadilly Circus. The Government certainly won’t fund it.

The Treasury claims our national debt is around £550bn. That number – how can I put this delicately? – is total nonsense.

Our politicians and civil servants have made an invidious art form of burying off-balance-sheet liabilities. I’m thinking, in particular, of the private finance initiative, quasi-private debts held by the likes of Network Rail and – above all – our enormous public sector pension bill.

The UK’s true national debt – even before last week’s multibillion pound package – exceeds £1,300bn (some £50,000 per household). Every penny will have to be re-paid from future taxation. That’s before we spend any more...." sunday times

neil young : nuthin is perfec in Gods perfec plan...jus lookin a shadows ta see...

petey : shine a light onnit...tell a truth... for once!

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