Search Results for: Bank of International Settlements

Australian bank class action ‘could be worth billions’

commonwealth bank sign

Promoters of a class action for “victims” of Commonwealth Bank’s $2.1 billion takeover of Bankwest in 2008 say it could be the largest litigation of its type, worth billions of dollars. Anti-bank advocate Geoff Shannon, who founded the Unhappy Banking website, said yesterday he had secured the backing of an …

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Central banker appointed as Prime Minister of Ukraine

Arseniy Yatsenyuk Ukraine

A reshuffled Ukrainian Parliament installed following a coup last week has voted to appoint Arseniy Yatsenyuk as the new prime minister of the country. Yats, as Victoria Nuland, the Assistant Secretary of State for European and Eurasian Affairs at the U.S. State Department, called him, is a natural choice. He is …

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How Greece was robbed by the bankers

Greece flag thinking Aristotle

Every single mainstream media has the following narrative for the economic crisis in Greece: the government spent too much money and went broke; the generous banks gave them money, but Greece still can’t pay the bills because it mismanaged the money that was given. It sounds quite reasonable, right? Except …

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Lobbying scandal engulfs Bilderberg

Club Bilderberg

Secrecy at the Bilderberg conference – where corporate kingpins, government officials, and royals meet – is receiving renewed attention following the LIBOR scandal and a more recent one at the House of Lords. In the latter case, two members of the Labor Party, Brian Mackenzie and Jack Cunningham, and Ulster Unionist …

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Pope Benedict resigned to avoid arrest

Pope Joseph Ratzinger

Diplomatic Note was issued to Vatican just prior to his resignation New Pope and Catholic clergy face indictment and arrest as “Easter Reclamation” plan continues A Global Media Release and Statement from The International Tribunal into Crimes of Church and State Brussels: The historically unprecedented resignation of Joseph Ratzinger as …

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Forex scandal: criminal bankers must be jailed, not fined

Six banks forex rigging scandal

Financial penalties expected to hit British banks for Forex rigging will do little to tackle financial crime in the City of London as regulators continue to prioritize high finance over ordinary citizens, experts warn. British banks could be fined billions in coming months as investors pursue them for rigging foreign …

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BRICS to create alternative to IMF and World Bank

BRICS leaders

The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), according to RBTH. As WSJ reports, the U.S. would lose its veto power on …

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China is set to make waves in the gold market

Gold market China

From Filip Karinja, for Birch Gold Group With the recent launch of its yuan gold fix, China is making waves in precious metals markets. Traditionally, gold fixing was done at the London Bullion Market Association (LBMA). But finding themselves on the outside looking in, with gold prices dictated solely by the west, China …

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CEO of Liechtenstein Bank Frick murdered in broad daylight

Liechtenstein Bank Frick

Over the weekend the world was gripped by the drama surrounding the mysterious murder-homicide of the former CEO of Dutch bank ABN Amro and members of his family, and whether there is more foul play than meets the eye. However, that is nothing compared to what just happened in the tiny, and …

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Canada has sold all of its gold

Empty gold vault

One month ago, when looking at the latest Canadian official international reserves, we noticed something strange: Canada had sold nearly half of its gold reserves in one month. According to the February data, total Canadian gold reserves stood at 1.7 tonnes. That was just 0.1 per cent of the country’s total …

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Austrian government no longer guarantees bank deposits

Austrian government

Bank deposits in Austria will no longer enjoy state protection and a state guarantee in the event of bank runs and a bank collapse when legislation is enacted in July. The plan to ensure that the state is no longer responsible for insuring deposits has been readied by the Austrian …

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Banker pleads guilty to Libor manipulation

City of London

Editor’s note: These criminal bankers need to be jailed for life, no more cash settlements. Essentially they pay the settlements with the money they stole from the crime that they were convicted of or the bill is footed by shareholders of the bank. A senior banker from a British bank has admitted conspiracy …

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Argentina and China sign $1b currency swap deal

currency swap China Argentina

Argentina will receive the first tranche of yuan worth up to $1 billion in a massive currency swap with China before the end of this year. The deal will boost the troubled economy’s foreign reserves. It comes as part of a loan worth $11 billion signed in July by Argentina’s …

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Ukraine bans currency trading due to hyperinflation

Ukraine currency trading ban hryvnia

The National Bank of Ukraine has banned banks from buying foreign currency for their clients until the end of the week in a fresh attempt to halt the national currency’s free fall. Hours after the measure was announced, Prime Minister Arseniy Yatsenyuk called for an emergency session of parliament to …

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Put big bank CEOs in jail – Senator Elizabeth Warren

Senator Elizabeth Warren

Sen. Elizabeth Warren (D-Mass.) This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on …

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