Strongest Signal for a Recession Since September 2007

[4-2-7]

@Samm

I concur
I found the agreement between the BoE and the FDIC strangely reminiscent of the Cypress bank bail in. This is part of the joint agreement made last Dec.

This is Great Britain's Bail-in...

What happen in Cyprus in the euro and applies to all countries using that currency.

[merrylander]

Originally Posted by 4-2-7

@Samm

I concur
I found the agreement between the BoE and the FDIC strangely reminiscent of the Cypress bank bail in. This is part of the joint agreement made last Dec.

This is Great Britain's Bail-in...

What happen in Cyprus in the euro and applies to all countries using that currency.

And it was stipulated that shareholders and unsecured creditors would take the hit, depositors were nowhere on the hit list. Also the FDIC insures deposits of $100,000 or less.

[Samm]

Originally Posted by merrylander

And it was stipulated that shareholders and unsecured creditors would take the hit, depositors were nowhere on the hit list. Also the FDIC insures deposits of $100,000 or less.

My understanding (and I could be wrong) but a depositor is an unsecured creditor.
"Definition of 'Unsecured Creditor'


An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan."

That is how it played out in Cyprus anyway. Those poor people when all was said and done lost somewhere around 80% of all their deposits.

[merrylander]

Originally Posted by Samm

My understanding (and I could be wrong) but a depositor is an unsecured creditor.
"Definition of 'Unsecured Creditor'


An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because it will have nothing to fall back on should the borrower default on the loan."

That is how it played out in Cyprus anyway. Those poor people when all was said and done lost somewhere around 80% of all their deposits.

Definition of a deposit:

1. Something, such as money, that is entrusted for safekeeping, as in a bank.

Emphasis mine.

I recall (though it is now ancient history, my first car loan and the bank manager saying to me when I thanked him.

"Rob if I leave all those dollar bills in the vault they will not procrate and my supervisors expect me to earn enough to pay the dpositors interest and show a profit as well."

[4-2-7]

Originally Posted by merrylander

And it was stipulated that shareholders and unsecured creditors would take the hit, depositors were nowhere on the hit list. Also the FDIC insures deposits of $100,000 or less.

Little known fact for you.
Your deposit becomes bank assets once deposited. You are in essence a shareholder. Did you see my comment to you yesterday regarding MF Global?

Now look below do you really think FDIC will be able to cover all/some/any depositors funds in the US. In Cyprus the fat cats got warned and removed their deposits leaving the small guy holding the bag.


Originally Posted by 4-2-7 View Post
No I'm not, but that doesn't mean the western banking system and fractional reserve banking is working.

It doesn't mean I want all my eggs in one basket.

Do you want to be 100% in paper knowing the Derivatives bubble can pop any day or the Bond Bubble?

This will make the housing bubble look like you forgot to pay your water bill.

JPM has 71 T in derivatives alone.


$223.3 trillion: The total indebtedness of the world, including all parts of the public and private sectors, amounting to 313% of global gross domestic product.
http://blogs.wsj.com/economics/2013/...at-313-of-gdp/

Oh but you're protected with FDIC.
Good luck with that one. Here is their account balance $14,664,515.
To cover, Private US Citizen Deposits $5.37 trillion.
http://www2.fdic.gov/IDASP/
http://www.bloomberg.com/news/2013-0...s-support.html

JPMorgan Chase
Total Assets: $1,947,794,000,000 (nearly 1.95 trillion dollars)
Total Exposure To Derivatives: $71,289,673,000,000 (more than 71 trillion dollars)

Citibank
Total Assets: $1,319,359,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $60,398,289,000,000 (more than 60 trillion dollars)

Bank Of America
Total Assets: $1,429,737,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $42,670,269,000,000 (more than 42 trillion dollars)

Goldman Sachs
Total Assets: $113,064,000,000 (just a shade over 113 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $43,135,021,000,000 (more than 43 trillion dollars)

This link scroll down to page 28-29
http://www.occ.gov/topics/capital-ma...ives/dq213.pdf

[donquixote99]

Originally Posted by 4-2-7

Oh but you're protected with FDIC.
Good luck with that one. Here is their account balance $14,664,515.
To cover, Private US Citizen Deposits $5.37 trillion.
http://www2.fdic.gov/IDASP/
http://www.bloomberg.com/news/2013-0...s-support.html

Well, I went to the FDIC site you linked-to, and there was a number close to what you quoted. It says "Assets as of 12/31/2013: $14,798,443 I assume the difference between that number, and the $14,664,515 you quoted in the thing you c&p'd from wherever you get your stuff, is that your source is now a few months old. The Bloomberg link, BTW, is now broken, due to age, no doubt.

By the way, you've COMPLETELY MISREPRESENTED the meaning of that number. It's not FDIC assets. It's total assets of FDIC insured-institutions. Also, you left off the very-necessary unit label. It's in millions. $14.798 trillion, in other words.

If I thought you knew what you were saying, I'd have to say you were blatantly deceptive. But you just c&p material someone is providing you, I think, so you aren't totally responsible, yourself....

[4-2-7]

Originally Posted by donquixote99

Well, I went to the FDIC site you linked-to, and there was a number close to what you quoted. It says "Assets as of 12/31/2013: $14,798,443 I assume the difference between that number, and the $14,664,515 you quoted in the thing you c&p'd from wherever you get your stuff, is that your source is now a few months old. The Bloomberg link, BTW, is now broken, due to age, no doubt.

By the way, you've COMPLETELY MISREPRESENTED the meaning of that number. It's not FDIC assets. It's total assets of FDIC insured-institutions. Also, you left off the very-necessary unit label. It's in millions. $14.798 trillion, in other words.

If I thought you knew what you were saying, I'd have to say you were blatantly deceptive. But you just c&p material someone is providing you, I think, so you aren't totally responsible, yourself....

No I put that together from various locations to get figures.

The original post is not that old and I'll verify your FDIC numbers. That's an account so yes it's going to fluctuate.

[4-2-7]

Originally Posted by donquixote99

Well, I went to the FDIC site you linked-to, and there was a number close to what you quoted. It says "Assets as of 12/31/2013: $14,798,443 I assume the difference between that number, and the $14,664,515 you quoted in the thing you c&p'd from wherever you get your stuff, is that your source is now a few months old. The Bloomberg link, BTW, is now broken, due to age, no doubt.

By the way, you've COMPLETELY MISREPRESENTED the meaning of that number. It's not FDIC assets. It's total assets of FDIC insured-institutions. Also, you left off the very-necessary unit label. It's in millions. $14.798 trillion, in other words.

If I thought you knew what you were saying, I'd have to say you were blatantly deceptive. But you just c&p material someone is providing you, I think, so you aren't totally responsible, yourself....

This is millions $14,798,443.00 thats it thats all..

[merrylander]

[QUOTE=4-2-7;198061]Little known fact for you.
Your deposit becomes bank assets once deposited. You are in essence a shareholder. Did you see my comment to you yesterday regarding MF Global?

Fuck MF Global and did you ever bank with anyone honest?

I note that you did not post what reserves the Royal Bank of Canada has and how much of that is exposed to derivatives. Could that be because such exposure is zilch, zero, nada, nothing.

As we keep very little deposited with BoA and not a red cent in the hands of GS those two thieves worries are certainly not our worried.

With your warped conspiracy theories about wold wide banking I am not surprised, your tin foil hat must have sprung a leak somewhere. Tell us do you live in a Faraday Cage?

[4-2-7]

[QUOTE=merrylander;198076]

Originally Posted by 4-2-7

Little known fact for you.
Your deposit becomes bank assets once deposited. You are in essence a shareholder. Did you see my comment to you yesterday regarding MF Global?

Fuck MF Global and did you ever bank with anyone honest?

I note that you did not post what reserves the Royal Bank of Canada has and how much of that is exposed to derivatives. Could that be because such exposure is zilch, zero, nada, nothing.

As we keep very little deposited with BoA and not a red cent in the hands of GS those two thieves worries are certainly not our worried.

With your warped conspiracy theories about wold wide banking I am not surprised, your tin foil hat must have sprung a leak somewhere. Tell us do you live in a Faraday Cage?

It doesn't matter what Canada does the exposer is still there. If one of these banks go down it brings the whole western banking system with it. As well as the whole world economy.

Thanks for being receptive to this stuff it's so important to the world as a whole. They need to fined a safe way to wind out of it.