6/30/2014

MAS tells banks to prepare for financial collapse

Simon Black, an international investor wrote in Sovereign Man, I quote his article in the above title, ‘….the deputy chair of the Monetary Authority of Singapore (Lim Hng Kiang) said last night at a dinner that “an uneasy calm seems to have settled in markets” and that “we remain in uncharted waters.”
It was pretty amazing, really, to see such pointed language from a central banking official.
Mr. Lim jabbed at the “obvious” risks and said there would be “bumps on the road” ahead. That’s putting it mildly….
 

… the US financial system back in 2009. Lehman Brothers. Wachovia. Washington Mutual. Etc. They were all swimming naked, with very little liquidity and miniscule capital levels.
Singapore’s monetary authority is obviously concerned about financial markets. They understand that you can’t expect to conjure trillions of dollars out of thin air without creating epic bubbles and even more epic consequences….
 

Central banks and institutional investors turn a deaf ear to obvious risks and fundamentals that are screaming out in desperation hoping some conservative steward will notice that we are tap dancing on a knife’s edge, where nearly every single financial market is simultaneous at/near an all-time high, and central bankers keep pumping money into economies that they claim to be ‘recovered’
 

This is the ‘uneasy calm’ that Mr. Lim discussed– a prevailing attitude that there’s nothing to see here; keep calm and buy the all-time high….
 

If a senior official presiding over one of the world’s safer banking jurisdictions wants his banks to become even safer, a rational person would certainly wonder– “What do these guys know about the financial system that I don’t?”
 

They must be expecting the mother of all busts.’
 

Could Lim Hng Kiang’s fear a tell tale sign of the things that are being reported in the US about American banks being involved in all kinds of fraudulent deals and practices? There was a Bloomberg report a few days’ back by Zeke Faux, Stephanie Ruhle and Sam Mamudi.

‘June 26 (Bloomberg) -- Money managers and brokers shunned
Barclays Plc’s dark pool, and Chief Executive Officer Antony
Jenkins pledged an urgent inquiry, after the bank was accused of
lying to clients about high-frequency trading on the venue.

Deutsche Bank AG, Royal Bank of Canada, Sanford C.
Bernstein & Co. and Investment Technology Group Inc. are among
brokerages that disconnected from the Barclays LX platform after
New York Attorney General Eric Schneiderman sued the bank
yesterday, according to people with knowledge of the matter.
Barclays falsely assured investors they would be protected from
high-frequency traders while it simultaneously aided predatory
tactics, Schneiderman’s office wrote in the complaint….’
 

Many big American and European banks have been sued and have paid hundreds of millions or billions in fines for all kinds of financial crimes that they jolly well known should not be done. Would this Barclay’s case be the one to tip the cart and everything comes crashing down? The whole international financial system and their products have been operating with dubious credibility, taking abnormal high risk, gambling, cheating and scamming their clients and getting away with it. It is only a matter of time when the law just cannot turn a blind eye to it and all the CEOs of the top banks would find themselves behind bars for condoning and allowing such criminal activities to be conducted by the banks.
 

MAS and Lim Hng Kiang must be privy to many inside information of the ugly truths that are not reported in the media and must have the common sense to know that it will not be long when the whole financial system imploded under the management of crooks and thieves. Everything is looking too good to believe and the amount of so called profits they are generating to pay themselves crazy cannot be real. The banks are making more profits than the casinos in Las Vegas, Macau and Singapore. How could they do better than casinos? Think about it. Some smarter countries are turning to the yellow metal to hedge against such an eventuality when all paper money will become worthless.
 

How long to go before the big collapse is anyone’s guess. MAS must be worrying.

Kopi Level - Yellow

8 comments:

Veritas said...

Central banks have been propping up assets all over the world, where our MAS is probably part of crash protection team.

While FED is able to print and buy assets, every single cent from SG is our hard earn monies, and a large part of it from CPF.

PAP GIC spent so much oversea, because nowadays, central banks are not allow to hoard gold reserve with impunity from USA, and she is jolt into buying assets by USA, partly as an ally of crash protection, and also as a need to protect our wealth when US dollar reserve is fast losing her values.

CPF from the start is a scam. And when we realize that all our savings are gone, PAP will be kick out forever.

Anonymous said...

That maybe what they are hoping and waiting for. That is, they did not abdicate to leave the shits behind. BUT YOU GOT THEM OUT SCOTCH FREE AND OTHERS HAVE TO CLEAR THE SHITS THEY MADE.

Can it be said that it is wiser to keep the Rulers around for them to face the Consequences of their deeds. And be answerable for any failure?

Virgo 49 said...

Kicked out, but monies all gone.

just like the cleaner lady cheated by the prc conmen and conwoman of 400 plus k.

They go yo jail but what for?? Cannot recover your monies back.

Anonymous said...

Would it be nice to see some giants falling to their knees?
Cannot just keep seeing the poor going down, right?
Let some fairness prevail.

Matilah_Singapura said...

>> How long to go before the big collapse is anyone’s guess. MAS must be worrying.

All they'll do is print more bucks to prop up the system and bail out the "too big to fail, too cool for jail" motherfuckers.

If that doesn't work, then the rubber band will snap, and a great deflation will happen, interest rates hit silly double digits...and those still with whatever the accepted currency is, will be able to buy cheap "distressed" and "unloved" assets.

If I can find the correct god or goddess to pray to, and to offer live animal sacrifice, I will give up my atheism become a devoted follower of that deity if the fucker guarantees me that he/ she will COLLAPSE the markets soon, and wipe out as many banks as possible.

One market much needed for correction: Australia. Aust "Big Four" banking cartel needs to get hammered too.

Crash? I like it. Bring it on. Hope the HF traders tip the scales.

Kani nah...everything so high now. Time to cut all prices and wages by 50%...

But as much as I'm hoping, I doubt there'll be a BIG crash. Some sort of correction, yes. A big one, probably not.

Anonymous said...

for a minute I thot I saw "MAS tells banks to prepare for PAP's collapse"

b said...

No worries. MAS can always tap on cpf reserves for all the losses. In this society, costs are socialised and profits are privatised and thus the rich always gets richer.

b said...

>>9:35 am

They can close down any party anytime. It is just a party. The people behind that party can easily board a plane and be transported to their luxury islands before any harm befall them.

Thats the reason why they also like fts so much. They can also easily board a plane and leave the shit for sinkies to clear.