Godlike Productions - Conspiracy Forum
Users Online Now: 2,227 (Who's On?)Visitors Today: 1,018,221
Pageviews Today: 1,330,141Threads Today: 260Posts Today: 4,461
10:10 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!

 
G3
G3

User ID: 497757
United States
08/11/2012 07:27 PM

Report Abusive Post
Report Copyright Violation
CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
2012 August 11

From the CNBC show Squawk Box – August 10, 2012

[link to video.cnbc.com]

Stephen: This IS amazing! A stand-in finance reporter for CNBC, Kevin Ferry from Kronus Futures Management – after being told, bizarrely, by Squawk Box host Joe Kernen, twice, “whatever you do don’t screw this up” – has just disclosed that the current financial system and, importantly, the Libor, is about to be overhauled.


cont'd:

[link to the2012scenario.com]

Last Edited by Account Deleted by User on 08/13/2012 05:19 PM
Anonymous Coward
User ID: 21597997
United States
08/11/2012 07:58 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
A good weekend indeed!

I guess we'd best enjoy it while we still can.
G3 (OP)
G3

User ID: 1531577
United States
08/11/2012 08:40 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
A good weekend indeed!

I guess we'd best enjoy it while we still can.
 Quoting: Anonymous Coward 21597997


headbang
G3 (OP)
G3

User ID: 1531577
United States
08/11/2012 09:00 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
From the CNBC video:

Joe Kernen: We’re just seconds away from import price data for July, and Kevin Ferry is standing by at the CME in Chicago.

(To Kevin Ferry) Don’t screw this up because you don’t normally do it. Usually it’s Santelli. So whatever you do, don’t screw this up, Kevin.

Kevin Ferry: No pressure. Import prices down 0.6. that’s actually weak. We were looking for it to come back on to the high side after a big oil moved down last time. Small revision the Dow 2.4 from 2.7. Year over year you’re still looking at prices falling out of bed, Joe, down 3.2%, year over year. Wow.

JK: Also, when we were corresponding earlier, Kevin, you wanted me to ask you something that I didn’t really understand, that was compelling. What was that?

KF: Oh, well I was just noticing that there are Libor subpoenas raining down on the New York branches of these foreign banks today. So I think you really have to watch it. The BBA is now saying they are going to go into ‘overhaul’ mode. So as if we don’t have enough things going on, you’re going to start opening up a Pandora’s Box here in the Libor sector of the market.

JK: I see. So what would the implications be for Libor, do you think?

KF: Well, I think what they’re going to do, Joe, is basically put the old system in a coma, and work to devise something that’s a little bit better, and it’s going to be tricky. So ah, hey, I’m a Merck guy. I cut my teeth in the euro/dollar pit, but watch the new general collateral futures at the New York stock exchange. I think that’s where the interest is going to go.

Co-host Doug Dachille joins in:

DD: So what are they going to do with the euro/dollar futures and all the outstanding notion of principal of contracts linked to Libor? I mean is everybody going to convert their Libor interest rate swaps to cost of fund funds or Fed fund basis swaps or some other index?

KF: Are you asking me? I’ve asked that question as high as I could ask it and I get blank stares. So I don’t think you can violate the open interest in the contracts of over two decades.

DD: What I find fascinating is, we had somebody talking about oil earlier today. And everybody uniformly agrees that there’s market manipulation by a fairly strong cartel of people that have – in that case, that cartel has the exact same directional exposure to know that when prices go up, they all make money and when prices go down, they all lose money. But in the Libor space it’s not clear that every bank has exactly the same Libor exposure. so it’s not clear that that cartel in setting Libor and manipulating it, actually is as powerful as the cartel that manages oil prices. Yet I don’t hear any outrage of people routinely trading commodity derivatives and commodity futures, as much as I hear the outrage over euro/dollar futures and Libor-based interest rate swaps. Maybe it’s a perception thing, Everybody assumes that’s what goes on when you trade commodity futures, but nobody ever really thought that was going on when you were trading euro/dollar futures.

KF: Right, well let’s go out for a drink sometime. Laughs.

JK: I knew you guys would be, you’re like soul mates. I just got you started. Thank you, Kevin, Doug.

KF: Thank you, have a good weekend.

JK: OK, you, too.

Last Edited by G3 on 08/11/2012 09:00 PM
Anonymous Coward
User ID: 11159795
United States
08/12/2012 04:21 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
bump
Anonymous Coward
User ID: 1417968
United States
08/12/2012 04:49 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
spock
Oldcrow64
My cars shift themselves.

User ID: 13106014
United States
08/12/2012 04:58 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
I can actually feel the noose getting tighter.
dddd
Anonymous Coward
User ID: 20756371
United Kingdom
08/12/2012 05:00 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
What does Shark Week mean?
Anonymous Coward
User ID: 21507028
United States
08/12/2012 05:05 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
Why do you think banks are beefing up security
Anonymous Coward
User ID: 19790295
United States
08/12/2012 05:09 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
Dont know how they expect anyone to want to play their rigged games anymore.
Anonymous Coward
User ID: 20604563
United States
08/12/2012 05:13 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
The AMERO...It is Real.

very real and sitting in the denver mint
Anonymous Coward
User ID: 21588991
United States
08/12/2012 05:14 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
What does Shark Week mean?
 Quoting: Anonymous Coward 20756371


shark
Anonymous Coward
User ID: 20756371
United Kingdom
08/12/2012 05:18 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
I guessed it might be something like that.

Depends on who is the Shark.


I never like asking questions on twitter.
Anonymous Coward
User ID: 1246675
United States
08/12/2012 05:20 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
...and so it begins! The trigger is cocked and ready to be pulled for the global financial collapse!!!
Anonymous Coward
User ID: 20756371
United Kingdom
08/12/2012 05:23 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
fromSouthCarolina

User ID: 21663283
United States
08/12/2012 05:28 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
So what's supposed to happen, a financial collapse of some kind?
luke
Anonymous Coward
User ID: 8084990
United States
08/12/2012 05:29 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
...and so it begins! The trigger is cocked and ready to be pulled for the global financial collapse!!!
 Quoting: Anonymous Coward 1246675


kinda.

Its like this:

Anonymous Coward
User ID: 21281781
United States
08/12/2012 05:30 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
ON one had Im not scoffing, on the other, I'll believe it when I see it.
Anonymous Coward
User ID: 8287622
United States
08/12/2012 05:31 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
So what's supposed to happen, a financial collapse of some kind?
 Quoting: fromSouthCarolina


macguntard343
Mr. Toppit

User ID: 21606546
United States
08/12/2012 05:34 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
Ask the banks with living wills ... the grim reaper knows which ones.
Anonymous Coward
User ID: 20435160
United States
08/12/2012 05:36 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
For those that don't know, the Libor rates were manipulated by the big banks to help re-capitalize their balance sheets after the crash. This market manipulation is illegal (of course), but it was a clever (though devious) way of staying afloat...otherwise, the entire global banking system was soon to collapse. I know GLP is full of conspiracy stuff about a purposeful collapse, starving people, etc., but the truth is that the Phd's in investment banking outsmarted themselves, and now the entire system is unraveling behind the scenes. Not saying it is going to happen, but this actually has the potential to collapse our current way of life. At the least, in weeks or months, banks will be focused on nothing more than gathering capital (calling in loans), and you can forget about credit. In fact, if you want a conspiracy, imagine an emergency act whereby the banks force payment of credit card debt through wage garnishment. Whatever it takes to keep the banking system (and society) together.
Anonymous Coward
User ID: 1581778
Canada
08/12/2012 05:40 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
also, when we were corresponding earlier, kevin, you wanted me to ask you something that i didn't really understand that was compelling. what was that? oh, well i was just noticing that there are libor subpoenas raining down on the new york branches of these foreign banks today, so i think you really have to watch the bba is now saying they are going to go into overhaul mode, so as if we don't have enough things going on, you're going to start opening up a pandora's box here in the libor sector of the market. i sigh see. what would the implications be for libor, do you think? well, i think what they're going to do, joe, is basically put the old system in a coma, and work to device something that's a little bit better and it's going to be tricky. i'm a merck guy. i cut my teeth in the euro/dollar pit but watch the new general collateral futures at the new york stock exchange, i think that's where the interest is going to go. so what are they going to do with the euro/dollar futures and all the outstanding notion of principal of contracts linked to libor? is everybody going to convert their libor interest rate swaps to cost of fund funds or fed fund basis swaps or some other index? are you asking me? i've asked that question as high as i could ask it and i get blank stares, so i don'tnk you can violate the open interest in the contracts of over two decades. what i find fascinating, we had somebody talking about oil earlier today and everybody uniformly agrees that there's market manipulation by a fairly strong cartel of people that have, in that case, that cartel ha the exact same directional exposure to know that when prices go up, they all make money and when prices go down, they all lose money. in the libor space it's not clear that every bank has exactly the same libor exposure. so it's not clear that that cartel in setting libor and manipulating it actually is as powerful as the cartel that manages oil prices yet i don't hear any outrage of people routinely trading commodity derivatives and commodity futures as much as i hear the outrage over euro/dollar futures and libor-based interest rate swaps. maybe it's a perception thing, everybody assumes that's what goes on when you trade commodity futures, but nobody ever really thought that was going on when you were trading euro/dollar futures. right, well let's go out for a drink sometime. i knew you guys would be, you're like soul mates. i just got you started. thank you, kevin, doug. thank you, have a good weekend. you, too.
Anonymous Coward
User ID: 20949655
United Kingdom
08/12/2012 05:42 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
A better result would be to put the people behind this scam into a coma.
Isis One

User ID: 14343270
United States
08/12/2012 05:51 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
For those that don't know, the Libor rates were manipulated by the big banks to help re-capitalize their balance sheets after the crash. This market manipulation is illegal (of course), but it was a clever (though devious) way of staying afloat...otherwise, the entire global banking system was soon to collapse. I know GLP is full of conspiracy stuff about a purposeful collapse, starving people, etc., but the truth is that the Phd's in investment banking outsmarted themselves, and now the entire system is unraveling behind the scenes. Not saying it is going to happen, but this actually has the potential to collapse our current way of life. At the least, in weeks or months, banks will be focused on nothing more than gathering capital (calling in loans), and you can forget about credit. In fact, if you want a conspiracy, imagine an emergency act whereby the banks force payment of credit card debt through wage garnishment. Whatever it takes to keep the banking system (and society) together.
 Quoting: Anonymous Coward 20435160


With those last three sentences, you sound quite the evil banker, hmmmmmm

It won't go down like that. Anyone ever hear of the The Way of the Tao?
Spread the word, change the collective conscious......
THERE IS MORE THAN ENOUGH OF EVERYTHING TO GO AROUND

When you are undisciplined, the universe is extremely forgiving and when you are disciplined, the universe is extremely generous. Me
bill shitters 1.2

User ID: 19820209
United Kingdom
08/12/2012 05:56 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
When the poop hits on this would having paper money àt home or a statment of whats in the bank best
The retired thread killer


Still the killa of threads

we come in peace shoot to kill
[link to au.youtube.com]

I can not talk TO aliens but do listen to the anally probed
bill shitters 1.2

User ID: 19820209
United Kingdom
08/12/2012 06:17 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
When it fully unwinds how can the avg joe come out a winner

Will gold silver be thè best place to be
The retired thread killer


Still the killa of threads

we come in peace shoot to kill
[link to au.youtube.com]

I can not talk TO aliens but do listen to the anally probed
Anonymous Coward
User ID: 21364681
United States
08/12/2012 06:20 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
For those that don't know, the Libor rates were manipulated by the big banks to help re-capitalize their balance sheets after the crash. This market manipulation is illegal (of course), but it was a clever (though devious) way of staying afloat...otherwise, the entire global banking system was soon to collapse. I know GLP is full of conspiracy stuff about a purposeful collapse, starving people, etc., but the truth is that the Phd's in investment banking outsmarted themselves, and now the entire system is unraveling behind the scenes. Not saying it is going to happen, but this actually has the potential to collapse our current way of life. At the least, in weeks or months, banks will be focused on nothing more than gathering capital (calling in loans), and you can forget about credit. In fact, if you want a conspiracy, imagine an emergency act whereby the banks force payment of credit card debt through wage garnishment. Whatever it takes to keep the banking system (and society) together.
 Quoting: Anonymous Coward 20435160


With those last three sentences, you sound quite the evil banker, hmmmmmm

It won't go down like that. Anyone ever hear of the The Way of the Tao?
 Quoting: Isis One


more like gubbmernte cover up and sealed information and bernake printing more adn more trillions.

The question really should be. When will the damm break from all the trillions and trillions being printed and hiding covering up the illegal manipulation to keep the evil system of the elite ivy leager and london banksters going.
Anonymous Coward
User ID: 2926765
United States
08/12/2012 06:20 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
tell ya one thing. we're gonna get screwed royally when it gets overhauled...
Anonymous Coward
User ID: 21785535
United Kingdom
08/12/2012 06:23 PM
Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
The AMERO...It is Real.

very real and sitting in the denver mint
 Quoting: Anonymous Coward 20604563

I haven't heard the Amero mentioned for quite a while....
I had almost forgotten about it tbh...
eagleman
I LOVE NEWS

User ID: 21823197
United States
08/12/2012 06:29 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
Well so far stock index futures are not under any negative pressure so I guess everything will be ok for tomorrow once the nyse opens.
Chris Jusset

User ID: 1202409
United States
08/12/2012 06:29 PM

Report Abusive Post
Report Copyright Violation
Re: CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
CNBC Stand-In Reporter Admits Financial System Changeover: “They’re Going to Put the Old System In a Coma”!
 Quoting: G3

Just to clarify: the video is limited to a changeover of LIBOR-related systems, not the entire financial system.

News








We're dropping truth bombs like it's the end of days!