Back in August, Kashya Hildebrand, the wife of Swiss National Bank Chairman, Philipp Hildebrand, put on a sizeable long USD/CHF position. That was a little more than a week before the SNB sold massive amounts of Swiss francs.
So far, the SNB Chairman has had little to say about this other than to comment that the media reports about his wife's activities were "partially incorrect."
What arrogance.
His wife obviously knew of the SNB's intention to lower interest rates to zero and sell billions of Swiss francs. She was tipped off.
Another blatant example of central bank corruption. (Like the Fed's trillions $$ in loans to banks and other financial sector cronies.)
Meanwhile as they profit obscenely from this cronyism, these central bankers scold governments on the need for further fiscal consolidation, austerity and similar measures designed to take public wealth away from working people and hand it over to the financial elite.
Read entire article here.
"Meanwhile as they profit obscenely from this cronyism, these central bankers scold governments on the need for further fiscal consolidation, austerity and similar measures designed to take public wealth away from working people and hand it over to the financial elite."
ReplyDeleteAnd the hoarding causes more deflation, causing higher unemployment and more fear, which causes more hoarding. Now, who do you think is going to be sitting there at the "V" bottom, ready for devalued assets to slide down their waiting maws?
Unforgiven, there was a huge outcry in the US in the 19th century over bankers engineering depressions to scoop up collateral that was defaulted on after they already profited handsomely from rent collection on the way up. It was a recognized scam and in part led to the Progressive Party un Teddy Roosevelt and eventually the Federal Reserve Act of 1913, which was written by bankers to forestall serious reform imposed by government due to public outrage.
ReplyDeleteWhat we are seeing now is just a repeat in another time in another form called "financial innovation" and "financial engineering."
Modern Day Royalty
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ReplyDeleteWe need Professor Black to lead the enforcement of the accounting contro fraud that has been ocurring thru out the entire financial and govermental agencies, which is the cancer to honest people such as found at this website. All this accounting control fraud does is to drive the honest banker out of business, and destroy faith in the financial system of the US. Time to reset the balance of status quo of "don't look don't tell" versus re-allocation of funding to increase the FBI, DOJ, SEC, CFTC, etc from homeland security force money to investigate and prosecute and claw back the ill gotten bonuses, MR. Mudd, and Reines are you listening? Dodd, Frank, included.
ReplyDeleteYou are all right on.
ReplyDeleteThey may have sovereign MMT in Switzerland, but they obviously are corrupt and use it back door for their own.
The Swiss are allowed to make big infrastructure projects all day long but the deficit terrorists in the USA hold us hostage with the Austrianism.
Send this article to the American Physicists ( if there are any left ) at the LINAK particle accelerator in Illinois which had to be shut down due to lack of funds.
Of course they will limpid biscuitly support their commrades at CERN, but this makes you wonder if CERN's Large Hadron Collider was made with the same open fraud.
Remember the Super Conducting Super particle Collider in Texas was canned by Austrianism under Newt Gringrich's 90's congress.
This would have been an asset to the USA at half the cost of the CERN big machine. And the CERN machine is only 1/4 the power equivalence for smashing atoms.
The Swiss secret banking system is designed for money laundering, tax avoidance, and stashing questionably obtained money. Why is anyone surprised it is thoroughly corrupt? Even the US government is twisting arms over there to get at the tax avoiders and the Swill are screaming that it's their bread and butter.
ReplyDeleteNow that I think about it
ReplyDeleteanything like mysterious subatomic particles being discovered could hardly be taken seriously coming out of a country that prides itself in tax avoidance and hiding money
why the connection with the Physics community ?
maybe this is a first step to get physics back into the foray of asset creation and mega project construction in the USA
i hope im not too late for the discussion.. im swiss and we re getting hardly any infos. swiss bankers and their connections are tabu. please help. tell me what you know for example about goldman sachs and switzerland....!!! here is something really bad going on. u can read about gs all over europe, but NOTHING about switzerland... this cant be. notice, hildebrand worked for capital moore, a goldman sachs org. there must be more..!!
ReplyDeleteNow that you bring it up, Anon, I haven't heard anything about GS in Switzerland either. I assumed that the Swiss banks had the place wrapped up tight themselves, so there was no room for GS.
ReplyDeletewrapt up tight in secrecy, yes. i found out more, but not enough, but see: credit swiss gets nice ratings from goldman sachs. glencore is exclusively giving tips to cs, cause they re financing them. gs needs infos for the commodity. cs just bought toxic papers from 2008 from the fed... (yes, shure, we swiss pay their bonus after the crash) the fed IS goldman sachs.one relation. others with UBS and gs. the club of rome is coming to switzerland. a very bad organisation, their goal (wiki): global governance. everything goes very fast now, cause they become all so big - too big to fail. see simon johnson on http://www.uctv.tv/search-details.aspx?showID=20776&subject=pa
ReplyDeletei start to understand: switzerland is like a offshore place, but with all the facility and security they need, before going real offshore, transfering huuuuuuge amounts of money, they ve stolen. but who exactly and where, thats a hard part of work, a network where everybody covers everybody, but once you start digging deeper, you start to understand......and the swiss part/law is very good at covering. i feel shame, being swiss, but the same time i want to fight them. i wont look away and consume happily for their wealth. no.
ps cretit suisse says: dont worry, dear swiss people, we wont keep the toxic papers, we sell them (to some old people dying anyway soon?!). its the same bubble game. f***
ReplyDeleteThanks for the reporting, Anonymous.
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