четверг, 25 октября 2007 г.

Beware flying banker!

In this case, I will have no right, but the financial crisis which comes from America, I have been a long time announced. The collapse of the bridge in Minnesota, the explosion of steam pipeline in New York and so are the visible signs of a kollabierenden system. 25% of all 590'750 bridges in the United States are considered "structurally endangered" according to the American Society of Civil Engineers (ASCE). To rehabilitate "$ 9.4 billion per year for the next 20 years." Well, if one of them is president elect "the only money spent for war and not for the maintenance of the infrastructure.

The American financial system is as dilapidated as the bridges and lines of the country and now the whole world is affected, the great disadvantage of globalization, because everything networked and connected. If it crashes in the United States, it triggers a worldwide chain reaction. Around the globe, the banks billions in the banking system pumped to the deep verunsicherten to reassure investors. The fear of a global tightening of credit crisis prompted the European Central Bank (ECB), the Fed and the monetary authorities in Tokyo and Sydney to additional liquidity injections. The investors in the stock markets, the central banks could not pacify the sackten courses in Europe and Asia. Even Wall Street has high losses were recorded.

The ECB has the financial system a record sum of nearly 95 billion euros, and then again another 61 billion euros at its disposal. It is the first time since the crisis after the attacks of 11 September 2001, that the guardian of the euro decided such drastic steps.

Also, the Fed pumped about 24 billion dollars, and thus as much as over the past four months is no longer involved in a single day in the market. The Canadian central bank has led the markets more money than usual. "What the central banks are doing here is a concerted attempt to deliver sufficient liquidity," said Jimmy Koh, currency strategist at United Overseas Bank. "The Besorgniserregende of it is that they do, if the markets do not work as they should."

Also, the central banks of Japan and Australia on Friday pumpten with 8.45 billion dollars, or 4.2 billion dollars more money in the market than on other days. In some Asian countries were at the banks because of the crisis forced the foreign exchange market intervention to support their currencies.

Hey, that is $ 155 billion, on a day were pumped into the system, and no peanuts ;-) präker It shows how the situation is.

In Germany, the situation is also quite bad. The Bundesbank holds a crisis meeting after another to the collapse of IKB and other banks to prevent it. There are rumors Westdeutsche Landesbank and the SachsenLB had big problems. If these large banks even collapse, but then it is evening and the entire global financial system collapses.

What the German banking system, and threatened a worldwide impact could have the asset-backed commercial paper. This type of financing poses great dangers if the parties are insolvent, and then issuing bank for the moment. Many banks have ABCPs to hedge funds and other banks, which in theory they can redeem in an emergency. The problem is that the banks have a lot more ABCPs spent as they were allowed. If there was a mass influx, then the banks are insolvent.

What can happen, the case of IKB. Because of IKB funded by the U.S. hedge fund Rhineland Funding Under cover had had to step in IKB, in turn wanted their ABCPs at Deutsche Bank cashed, but who refused because Ackermam Bank chief was already in panic because of the Bear Stearns case, and they have exposed enough, therefore collapsed IKB. Now try the central banks displayed the banks with massive liquidity, means tons of cheap money to save. "It's about the stability of the German financial market", told the Federal Association of German Banks. The head of the Financial Supervisory BaFin, Jochen Sanio, was before the worst banking crisis since 1931 warned that should the IKB and others collapse. Concern for the US-Immobilienmarkt also burdened the German stock market.

For years, we believe the proponents of economic liberalism the booming U.S. economy as a good example in front of the nose and criticize our Lahmarschigkeit. This is the "economic miracle" and the highly acclaimed "American Way of Life" an illusion, an air lock, an empty balloon bursts now. These consumer bubble was only with debt financed mainly by foreigners. It has the sozialschwachen and poor Americans nachgeschmissen loans, which under normal Unständen never had money. So people have bought expensive consumer goods, which otherwise could never remember.

The growth of the economy and the consumer rush to the U.S. government always referred so proud, was built on the nod, because this Subprime customers with lower credit ratings were pushers columns with real estate loans, but loans for cars, boats, mobile homes, and even credit card debt sold , in which it was clear that they hardly can be repaid. American banks and building societies, these loans are bundled and passed on to investors, the loans in the form of complex packages on the capital market brought. Here then bought the IKB and other stupid foreigner, the shares without ever seen the defendant and to ask for collateral.

Now that the U.S. citizens because of lower property prices, and interest rate increases Jobverlust not pay more, the system breaks, and the lenders have nothing Reelles in his hand. Aufeinmal see the money Financies there is only one air number and get the big panic.

And it goes on with the problems, so we may soon be flying bankers see if all this is reality:

The French financial sheet La Chronique Agora says, "This time the alarm is on the credit markets of unprecedented magnitude. This is the end of an era, an end to the illusion of unlimited global liquidity. Another illusion dies so that the central banks and finance ministries complete control over the money and credit amounts still have over the years piled up.

The situation is a giant with clay feet (the American economy), which balances a giant balloon, the real estate bubble. Above sits on the giant credit and Derivativ-Markt the ongoing infusions of new money from the Federal Reserve. And the very top about this endangered construct, the world financial markets, which get vertigo.

Viewers of this monstrous spectacle are the investors, which are still on their stools. But you seem to be immediately ready to get up, leave the room ... maybe calm and disciplined ... or panic run on emergency exit, the umzustossen chairs and on the neighbors to climb to escape ... "

Stock Guru Cramer has fully panic!

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