![]() ![]() ![]() |
|||
Can Pigs Really Fly?Rob Kirby The Fed / Treasury first announced that banks would be subject to stress tests back on Feb. 10, 2009. This WSJ account is the earliest mention we've been able to find:
So…. as of the date of the article above – WHEN STRESS TESTS WERE CLEARLY PLANNED and ANTICIPATED – FASB [Financial Accounting Standards Board] rules CLEARLY stipulated that mark-to-market accounting was the measuring stick for prudently gauging the true financial health of any banking institution. Benedict Benny's Ballsy Bait & Switch Something happened to the methodology for how stress tests would be conducted on the way to the recent G20 Central Banker confab, as this Reuters article dated April 2, 2009 reveals;
We can only surmise that the TRUE reason for this accounting chicanery is to obfuscate the true condition of institutions such as Goldman Sachs – which recently, for the first time – was subject to minimal transparency requirements when, as a bank for the first time, they were required to report to the Office of the Comptroller of the Currency [OCC] and their financials were subject to the OCC’s Q4/08 Quarterly Derivatives Reporting: ![]() Ladies and gentlemen, the Total Credit Exposure to Capital ratio is one of the most telling capital adequacy ratios known to man. If ever there was a failing grade on a “stress test” – HERE IT IS IN SPADES!The aforementioned measure of capital adequacy, [1,056.4] in Goldman’s case, is so TOXIC – in fact; one can only wonder if regulators might have required radiation suits and Geiger Counters to safely measure the TOXICITY of Goldman’s books. Goldman’s figures stand out almost 5 times worse than those of Citibank and Bank of America and 11 times those of Wells Fargo. Of course, with the discarding of real accounting standards in the United States, the true extent of this toxicity will now conveniently be obfuscated from the general public in further OCC reports,
Not retroactive? “Effective for the second quarter, with early application allowed for the first quarter?” Who are these CLOWNS trying to kid? From this time forward, this shall no doubt become known as “the Goldman Clause”. It's hard to believe that the Chairman of the Federal Reserve would be involved in such a low-down-good-for-nothing traitorous act, ehhh? Then we're sure it will be even more difficult for the commoners to wrap their heads around this treasonous tid-bit:
In a follow-up interview by Mr. Cuomo, conducted with Mr. Paulson's office, this account of Cuomo's interview was reported by Tom Lindmark at Seeking Alpha,
These Cads Have Other Dirty Tricks…. ![]() Now admittedly, Sir Benedict of Bernanke was not the “lone shooter” sitting all-by-his-lonesome on the sixth floor of the Book Depository in Dealey Plaza – he had help. Rumor has it that none other than Tiny Turbo-Tax Timmy Geithner was spotted on the grassy knoll, armed with the only known copy of “The Crown Jewel” which was reported “swiped” from the Book Depository [or Fortus Knoxus, perhaps?] later on that evening; ![]() You see folks; a rising gold price historically acts a canary-in-the-coal-mine – alerting all that things are “not right” in the monetary system. Additionally, gold has historically served as the-go-to flight to quality / wealth preservation trade. In the current environment, the powers that be desperately need U.S. Bonds to serve that function. This is why gold has been auspiciously stifled [murdered] so many times at the EXACT moments of U.S. Dollar and Bond negative news. The current Obama Administration is being “coached” by none other than Paul Volcker, who is clearly and factually on the record regarding the rising gold price circa 1980 – [excerpted from Volcker's memoirs published in The Nikkei Weekly, November 15, 2004];
Fool me once, shame on you. Fool me twice……… Maybe pigs really can fly? Subscribers to Kirbyanalytics are learners, educating themselves about the merits of ownership of gold and precious metals as well as guidance on how to acquire physical precious metal. The balance of this article for subscribers only contains sections titled, Swine of the Times, China Buying Gold, What Really Happened at Bear Stearns and more. Subscribe below. Rob Kirby
Subscribe to the Kirbyanalytics News Letter; insightful proprietary economic analysis. Find out where we are headed -- subscribe here. |