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1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM

 
Uncle Fuck Stick
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07/01/2013 08:31 AM

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1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
[link to en.wikipedia.org (secure)]

Collusion is an agreement between two or more parties, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.[1] It can involve "wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties".[2] In legal terms, all acts affected by collusion are considered void



[link to www.bangkokpost.com] The European Commission said on Monday it suspected that 13 top investment banks including Barclays, Deutsche Bank and Goldman Sachs, colluded over derivatives trading in breach of EU antitrust rules.




A preliminary investigation showed that banks colluded to exclude exchanges from the over-the-counter market because they feared involvement by the exchanges "would have reduced their revenues from acting as intermediaries," the Commission said.

The banks instead allegedly continued over-the-counter trading in the massive credit default swaps (CDS) market between 2006 and 2009 -- an opaque business that was seen as contributing to the global financial crisis, the Commission said in a statement.

The EU's Competition Commissioner Joaquin Almunia said the banks would now have the chance to respond to the accusations, and that if the charges were confirmed once the investigation was completed they could face fines.

"If it is confirmed that banks collectively blocked exchanges from the derivatives market, the Commission could decide to impose sanctions," Almunia said at a press briefing.

"Exchange trading of credit derivatives improves market transparency and stability," he said, adding that collusion between the banks to prevent this type of trading would be "a serious breach of our competition rules".

Last Edited by Uncle Fuck Stick on 07/01/2013 01:43 PM
Uncle Fuck Stick (OP)
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07/01/2013 08:39 AM

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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
I think is gonna be one of those epic weeks
Anonymous Coward
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07/01/2013 08:46 AM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
OTC anything should be banned ffs tell me why its not? Because the law makers get paid off.
Uncle Fuck Stick (OP)
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07/01/2013 08:54 AM

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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
OTC anything should be banned ffs tell me why its not? Because the law makers get paid off.
 Quoting: Anonymous Coward 42500374


they had congressional hearings on it and then fed chairmen Greenspan said that their was no need to regulate because the market would balance itself out....IT DIDNT...they even had him back in front of congress a few years ago and he said he was wrong AND STILL NO REGULATION....And just this spring REGULATION WAS BEING SUPPOSEDLY IMPLWMENTED AND IT HIT THE NEWS THAT LOOPHOLES ARE ALREADY BEING SOUGHT BY BANKSTER SCUM TO KEEP RISKY BETS FLOWING.......1.5 QUADRILLION TO DATE AND CLIMBING
Uncle Fuck Stick (OP)
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07/01/2013 11:43 AM

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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
bump
Anonymous Coward
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07/01/2013 11:44 AM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Rug, meet broom.
Anonymous Coward
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07/01/2013 11:46 AM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
they have been like pitbulls lately. doing lots of paperwork.
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
hiding
Anonymous Coward
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07/01/2013 01:41 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
what's after a quadrillion?

used to be billions in the 70's

now we've even past trillions....petty cash nowadays
Mickeyblue
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07/01/2013 01:47 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Quintillion.

Regardless the total GDP of the world is something like 80trillion which is something like 177.4th of the 1.5Quadrillion.
Anonymous Coward
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07/01/2013 01:49 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Quadrllion<Gazilion<Bazzillion
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
[link to en.wikipedia.org (secure)]

Collusion is an agreement between two or more parties, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.[1] It can involve "wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties".[2] In legal terms, all acts affected by collusion are considered void



[link to www.bangkokpost.com] The European Commission said on Monday it suspected that 13 top investment banks including Barclays, Deutsche Bank and Goldman Sachs, colluded over derivatives trading in breach of EU antitrust rules.




A preliminary investigation showed that banks colluded to exclude exchanges from the over-the-counter market because they feared involvement by the exchanges "would have reduced their revenues from acting as intermediaries," the Commission said.

The banks instead allegedly continued over-the-counter trading in the massive credit default swaps (CDS) market between 2006 and 2009 -- an opaque business that was seen as contributing to the global financial crisis, the Commission said in a statement.

The EU's Competition Commissioner Joaquin Almunia said the banks would now have the chance to respond to the accusations, and that if the charges were confirmed once the investigation was completed they could face fines.

"If it is confirmed that banks collectively blocked exchanges from the derivatives market, the Commission could decide to impose sanctions," Almunia said at a press briefing.

"Exchange trading of credit derivatives improves market transparency and stability," he said, adding that collusion between the banks to prevent this type of trading would be "a serious breach of our competition rules".
 Quoting: Uncle Fuck Stick


lol, like the EU wasn't right in there colluding with them

riiiiighhht
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Nobody cares what the EU has to say anymore.
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Quintillion.

Regardless the total GDP of the world is something like 80trillion which is something like 177.4th of the 1.5Quadrillion.
 Quoting: Mickeyblue 9806228


ONE THOUSAND TRILLION IS A QUADRILLION

[link to en.wikipedia.org (secure)]

Last Edited by Uncle Fuck Stick on 07/01/2013 01:56 PM
Occasionally Swears
//Processing...

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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
bump

Needing a pin.
Right nao.
I have read a fiery gospel writ in burnished rows of steel:
"As ye deal with my contemners, so with you my grace shall deal;
Let the Hero, born of woman, crush the serpent with his heel,
Since God is marching on.

- Battle Hymn of the Republic
-------------------------------------
James 3:6-9

And the tongue [is] a fire, a world of iniquity. The tongue is so set among our members that it defiles the whole body, and sets on fire the course of nature; and it is set on fire by hell.

For every kind of beast and bird, of reptile and creature of the sea, is tamed and has been tamed by mankind.

But no man can tame the tongue. [It is] an unruly evil, full of deadly poison.

With it we bless our God and Father, and with it we curse men, who have been made in the similitude of God.
------------------------

Thread: About the Devil and his origins:
Thread: Hell exists. "The rich man and Lazarus"

The 'Divine Feminine' is a lie.
The 'Goddess of Heaven' is a lie.
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Thread: THE BEST ARTICLE EXPLAINING THE 1.2 QUADRILLION DERIVITIVES BUBBLE

Last Edited by Uncle Fuck Stick on 07/01/2013 01:58 PM
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Quadrllion<Gazilion<Bazzillion
 Quoting: Anonymous Coward 41281166


Quadrllion<Gazilion<Bazzillion<Bezerkillion
Anonymous Coward
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07/01/2013 01:58 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
bump
alufiend
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07/01/2013 02:02 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
maybe this is why no one can use their cards at stores

Thread: BREAKING- Nationwide Cash Failure? US Direct Express
Anonymous Coward
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07/01/2013 02:03 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Quadrllion<Gazilion<Bazzillion
 Quoting: Anonymous Coward 41281166


Quadrllion<Gazilion<Bazzillion<Bezerkillion
 Quoting: Anonymous Coward 42362245



Quadrllion<Gazilion<Bazzillion<Bezerkillion<Bankruptillion
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
maybe this is why no one can use their cards at stores

Thread: BREAKING- Nationwide Cash Failure? US Direct Express
 Quoting: alufiend 10513079


NO I HEARD THAT THE OTHER DAY...i forget where...might of been glp......somebullshit with atm reformats or something and people wouldnt be able to get their money out
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
maybe this is why no one can use their cards at stores

Thread: BREAKING- Nationwide Cash Failure? US Direct Express
 Quoting: alufiend 10513079


Thread: Banks & ATMs Closing June 29, 2013 - July 2, 2013 Secret?


i heard it somewhere else to
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
Remember last time something big like this was revealed...2 trillion missing from the Pentagon announced on September 10, 2001.

Doesn't bode well for the Fourth of July.
Anonymous Coward
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07/01/2013 02:26 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
I'm shocked amazing

Well not really. beared
Anonymous Coward
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07/01/2013 02:29 PM
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too big to convict
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
This could be related news.

Supposedly, last Friday Snowden was granted immunity from prosecution by Chief Justice Roberts.

Due to the info Snowden has "delivered" regarding the NSA, it has been able to be determined that an NSA-run banking cartel and the Federal Reserve used criminal bank technology to hide and disguise and misuse Wanta-Reagan-Mitterrand Protocol funds using electronic digital cross-referencing to create account numbers.

A U.S. Military Grand Jury has been convened and sealed indictments have been issued. This mechanism avoids the need to involve U.S. Attornry General Holder or NSA chief and, thus, justice might actually be served.

Before Its N_ws

Heneghan States Snowden Granted Immunity – Treasonous NSA Now Cornered – 6-30-13
Uncle Fuck Stick (OP)
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
OTC anything should be banned ffs tell me why its not? Because the law makers get paid off.
 Quoting: Anonymous Coward 42500374


they had congressional hearings on it and then fed chairmen Greenspan said that their was no need to regulate because the market would balance itself out....IT DIDNT...they even had him back in front of congress a few years ago and he said he was wrong AND STILL NO REGULATION....And just this spring REGULATION WAS BEING SUPPOSEDLY IMPLWMENTED AND IT HIT THE NEWS THAT LOOPHOLES ARE ALREADY BEING SOUGHT BY BANKSTER SCUM TO KEEP RISKY BETS FLOWING.......1.5 QUADRILLION TO DATE AND CLIMBING
 Quoting: Uncle Fuck Stick


Thread: SCUM FUCK BANKERS Try to Open Loopholes in Derivatives Regulation SO THEY CAN STILL GAMBLE.. 1.5 QUADRILLION AND RISING
Anonymous Coward
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bumpbumpbump
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
[link to en.wikipedia.org (secure)]

Collusion is an agreement between two or more parties, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage. It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities.[1] It can involve "wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties".[2] In legal terms, all acts affected by collusion are considered void



[link to www.bangkokpost.com] The European Commission said on Monday it suspected that 13 top investment banks including Barclays, Deutsche Bank and Goldman Sachs, colluded over derivatives trading in breach of EU antitrust rules.




A preliminary investigation showed that banks colluded to exclude exchanges from the over-the-counter market because they feared involvement by the exchanges "would have reduced their revenues from acting as intermediaries," the Commission said.

The banks instead allegedly continued over-the-counter trading in the massive credit default swaps (CDS) market between 2006 and 2009 -- an opaque business that was seen as contributing to the global financial crisis, the Commission said in a statement.

The EU's Competition Commissioner Joaquin Almunia said the banks would now have the chance to respond to the accusations, and that if the charges were confirmed once the investigation was completed they could face fines.

"If it is confirmed that banks collectively blocked exchanges from the derivatives market, the Commission could decide to impose sanctions," Almunia said at a press briefing.

"Exchange trading of credit derivatives improves market transparency and stability," he said, adding that collusion between the banks to prevent this type of trading would be "a serious breach of our competition rules".
 Quoting: Uncle Fuck Stick


Bangkokpost ?!
[link to www.bangkokpost.com]

No european news agency write about it??
Anonymous Coward
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07/01/2013 02:37 PM
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
I think is gonna be one of those epic weeks
 Quoting: Uncle Fuck Stick


I hope you're right! Been waiting here, patiently..

bump
Anonymous Coward
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Re: 1.5 QUADRLLION DOLLAR SHITSTORM......EU accuses 13 banks of DERIVATIVES COLLUSION...CITI,GOLDMAN SACHS,BARCLAYS,HSBC,JP MORGAN RBS...ALL OF EM
I think is gonna be one of those epic weeks
 Quoting: Uncle Fuck Stick


I hope you're right! Been waiting here, patiently..bump
 Quoting: Anonymous Coward 33598366


me too.

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