Saturday, July 6, 2013
Margin call on US banks (or rather too-big-to-fail banks)
Steen Jakobsen, Chief Economist & CIO, Saxo Bank
Filed in Steen's Chronicle
Denmark, Tuesday at 23:28 GMT-7 Recommend
This week's biggest news is not the Nonfarm Payrolls (which will be 160,000 again), or the European Central Bank (which will not introduce quantitative easing) or even Portugal's government falling. No — this week's big deal is the openness with which the Federal Reserve is preparing a major margin call on the too-big-to-fail banks in the US.
This has been a long time coming since the introduction of the Dodd-Frank law back in 2010 but it is a game changer. Remember all macro paradigm shifts come from policy impulses, often mistakes.
Fed approves step one in a three step plan
Under the final rule, minimum requirements will increase for both the quantity and quality of capital held by banking organisations. Consistent with the international Basel framework, the rule includes a new minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5 percent and a common equity tier 1 capital conservation buffer of 2.5 percent of risk-weighted assets that will apply to all supervised financial institutions. The rule also raises the minimum ratio of tier 1 capital to risk-weighted assets from four percent to six percent and includes a minimum leverage ratio of four percent for all banking organisations. In addition, for the largest, most internationally-active banking organisations, the final rule includes a new minimum supplementary leverage ratio that takes into account off-balance sheet exposures. (See the press release here)
I know you are thinking: Wow, this is the most interesting thing I have seen in years :-) but alas it is - because it is in fact a major margin call on the US holding banks.
Note how this adoption is only the first set of a series of new rules. Let me introduce you to: Daniel Tarullo, The Federal Reserve Governor in charge of regulation after the implementation of the Dodd-Frank law in 2010. (As a consequence of Dodd-Frank, the Fed got a permanent regulatory governor.)
I had nothing else to do so I read his latest speeches which are surprisingly clear (considering that he's a policy guy).
New Portals for Assistance in the “humanity to Hue-manity” Conversion Process have Opened
New portals for assistance in the "humanity to Hue-manity" conversion process have opened during the 7-3 to 7-5 period. Such are aligned with new Higher Light influxes currently ongoing.
Current portals also enable more facile communication with Inner Earth beings. No longer are such exchange portals limited to a few limited locations, eg., Shasta. Communication exchanges with Inner Earth beings will now occur readily, and often.
Fabricated "Light Work" is being exposed for what it is, and that "purity of intent" is lacking in such. Following Higher Light Guidance in Self is the norm at this time point.
ÉirePort | July 6, 2013 at 06:22
|Opponents of Morsi hold protest rallies in Cairo on July 3, 2013.|
Its not a secret that Morsi was universally loathed by the people of Egypt. He was cruel, heartless, and a despot elected in a rigged election. He was the choice the choice of the International Banker's. A Phoenix operation that removed one puppet, Mubarak, and replaced him with Morsi. And they didn't even have to change the monogramed towels in the Presidential Palace. We've seen the same tactics in the USA by the bankers, Bush replaced by Clinton (who was always in the Texas Camp despite being of the other party) followed by another Bush followed by Obama who continued GW Bush's tactics of "pre-emptive war", incarceration without trial, torture, and drone attacks. We've been "phoenixed" so many times in our own country.
So when I saw the blatently pro-Zionist CNN roundly attack the ouster of the Muslim Brotherhood's Morsi, something smelled bad. What's wrong with this picture? Where's Waldo? CNN placed live images of the pro-Morsi minority in tight camera shots in a split screen against the millions of the Egyptians who wanted him ousted as if there was some 50/50 divide in opinion in Egypt. There was nothing of the of the kind! Why would they do this unless they wanted to present in the public mind that further violence would be sectarian in nature? This was public democracy showing in force they didn't accept the rigged and fraudulent election financed by Wall Street, London and Tel Aviv that put Morsi into power.
The Muslim Brotherhood had its start under the Grand Mufti who was the only muslim member of the NAZI SS...the scourge of terror of the Jews during WWII. So you'd think, anyone truly supporting Israel...would be glad to see this guy go...given the direct lineage of horror, unless the plot was so byzantine and more about Israel's deniable proxy wars in the middle east for the Rothschild clan.
Gordon Duff makes a remarkable prediction in this article, which from my early morning TV viewing seems to be already coming true... The good people of Egypt deserve better. -AK
“Game Over” for Morsi, Israel
Friday, July 5th, 2013 | Posted by Gordon Duff at Veterans Today
By Gordon Duff and Press TV
“Morsi’s rule was a game, little more, in fact, no more than the selling of a totalitarian regime built on suppression of freedom of thought and expression and the careful grooming of extremism and slavish adherence to what had been intended to be a highly secretive plot, one so complex, so convoluted that discovery was impossible.”
“GAME OVER” is what the massive laser light show in Tahrir Square in Egypt’s capital of Cairo is announcing to the cheering throngs.
The sign is more right than some in Egypt, than all in the West, can begin to understand.
Morsi’s rule was a game, little more, in fact, no more than the selling of a totalitarian regime built on suppression of freedom of thought and expression and the careful grooming of extremism and slavish adherence to what had been intended to be a highly secretive plot, one so complex, so convoluted that discovery was impossible.
The great game, Morsi trying to buy Egypt’s place at the table with the new “Masters of the Universe,” the coalition of Turkey’s resurgent Ottoman dreams, rumored to exist only in Erdogan’s diseased brain, Netanyahu’s endless quest to prove to mankind that depravity knows no bounds, but we only begin.
It goes much further, much deeper, layer upon layer, a grand design clearly intended to end all human moral considerations, replacing them with a new “relativism,” all thinly veiled hucksterism peddled by half-baked carnival conmen.
The con, selling “The Clash of Civilizations” as a “cover and deception” plan , covering the truth, deceiving any seeking enlightenment, meant to obscure the simple reality that a group of secret societies, some many centuries old, men serving an unseen master best described as “Satanic,” believe they have been chosen to oversee the end of humanity.
Insane as it sounds, the list of those seeking membership is endless. I don’t really think this is much of a secret anymore. No rational person could believe otherwise as we are drowning, in some cases literally, in evidence.
Only a fool would fail to see the patterns. Calling them predators is too generous. Our “elites” are more akin to a nasty strain of syphilis. You know the names, Morsi was simply trying to get on the list. Let’s be honest, I don’t think Morsi really made it.
Well, with “Game Over,” one thing is for sure, the people of Egypt and their army weren’t as easily fooled as the American people were after 9/11.
Most agree that the turning point for the army was Morsi’s call for war against Syria. Those still harboring illusions as to Morsi, excusing his behavior as “unbalanced” or “insane,” simply weren’t paying attention.
The American media had no trouble either, saw no inconsistencies in his betrayal of the Palestinians, his systematic sabotage of Egypt’s economy, his curious political alignments, neocons in America, Likudists in Israel and Al Qaeda in Syria.
Americans have gained a delightful “moral flexibility,” an ability to rationalize, to betray, to deceive and be deceived and they seem to love it.
The Egyptian people saw, the army saw. Maybe it is simply that the West has so conditioned itself with absurdity and obfuscation that questioning anything, no matter how fanciful, seems, in itself, a pointless act. Perhaps I am giving too much credit.
Don’t let the door hit you on the way out
The ugliness Morsi brought with him, his slavishness to Israel, his soullessness, rode roughshod over Egypt’s people like a pharaoh’s curse.
Yet, as the dust settles, we know it isn’t really over, not yet. “Morsi 2.0” is waiting in the wings.
Morsi was “Mubarak 2.0.” The “Masters of the Universe” aren’t going to give up on destroying Egypt, not so easily.
We can expect the car bombs, the favorite of Mossad’s false-flag ‘bag of tricks.’ Sectarian violence, Tel Aviv hopes, will derail Egypt’s second try for real independence. Consider this a prediction.
Did you get your “talking points” today?
Across the world, the bloggers and pundits are scrambling to save Morsi, their handlers frantically emailing and faxing “talking points.” Coffers will open, cash payments for articles, even for slavish comment board spamming, an Israeli psyops practice carefully tracked by Jim W. Dean of Veterans Today.
As late as this morning, dozens of owned or rented “influencers” were attacking the Muslim Brotherhood as part of the worldwide Islamic conspiracy against all mankind.
Now, as thronging millions march through Egypt’s streets, celebrating the overthrow of a government that makes North Korea look like Iceland, those same “shills,” there is no other word that applies, have turned 180 degrees and are parroting the Talumdic gang’s talking points:
· Military coup
· Suspended constitution
· Morsi was Egypt’s first “freely elected” president
What kind of constitution allowed Morsi to imprison students for unfavorable “tweets?”
Then again, how many opponents did the Muslim Brotherhood “disappear?”
Consider this another prediction.
Morsi was the Lynchpin to Israel’s strategy. Morsi wasn’t just another “pretty face,” no indeed! This was, and is, a world-class thug.
Taking a lead from the Bush, Blair, Netanyahu playbook, Morsi tried to create a feeling of victimization and hysteria, first unleashing an imaginary jihad on Syria, Egypt’s historical ally and one-time partner in the short-lived United Arab Republic.
His second ploy was a threat of war against Ethiopia based on half-baked rumors that their huge hydroelectric dam would interfere with the flow of the Nile.
The real role of Morsi was to isolate Egypt, turn it into the laughing stock of the Middle East, castrate its military and create base of operations for certain foreign intelligence agencies.
The events of today are not to be underestimated, they are monumental. Least of all, it can be shown that a real taste for freedom can’t be quelled with repackaged tyranny, except maybe in western nations like Canada, Germany, France and, just maybe, the United States.
Could the “developed nations” be the new political and intellectual “third world?”
As for the importance of Egypt as a slave satellite of Greater Israel, enough can’t be said. One needs only to look to Libya.
After the fall of Gaddafi, more a murder than a fall, actually, there has been a total news blackout on Libya. A carefully coordinated disinformation campaign, the “pro/anti-Zionists” of the left, 99% of whom have always been useless oxygen wasters, along with their “imperialist/bankster” warmongering friends, the other side of the same counterfeit coin, have sought to rob the Libyan people of credit for a very real sacrifice.
Toward that end, our media-mogul fact-twisting friends have sought to erase Gaddafi’s history, not just as a CIA asset and host to 20 years of P2 Gladio terrorism in Europe, but of his long military partnership with Israel, the evidence of which stoked Libyan fires for weeks.
Libya, with its vast oil and petrochemical wealth, has to be reined in. Morsi was part of that effort, holding down one flank, supporting the anti-government militias while conveying jihadists to do Israel’s dirty work in Syria.
In the process, a new generation of Al Qaeda terrorists will spread a generation of suffering, down through Africa, up into Europe and, of course, assuring Libya will suffer the fate of Iraq, war without end.
Tonight, Morsi no longer sits at that table. Egypt’s security services have been looking at foreign workers, language teachers, tourists who have lingered a bit too long.
Hundreds of young and helpful Israelis, many with “other” passports, have poured into Egypt to assist their blood enemy.
Morsi is gone, but will Egypt remain Israel’s colony?