How central banks and banks act as statistics and balance sheet female
Note bankers and bankers have drawn the big crisis, which the world has ever seen. But what is worse: After doing this, they tried to manipulate the economic statistics to disguise their inadequacy and arrogance. As a municipal consultant and economic institutions, whose analyzes reveal a lugen building, as the world has not seen before. They even do not hurt back to breathe for a soap food like the dollar through foreign exchange interventions and print gold and silver through short selling.
The scenario of a financial armageddon is not so far away as some market participants believe. The acceleration of decline in US economy became much faster than the statistics could be manipulated. The lugs are now so blatant that even the inflation is specified with zero.
How to explain shrinkage to growth
The figures published in August 2008 on the US gross domestic product with an increase of 3.3 percent on the year for the 2. Quarter 2008 were a masterpiece of the economic illusionism. The 4,6% nominal growth of the gross national product was adjusted only by 1.3 percent inflation through the so-called GDP deflator. However, since inflation has significantly higher over fun percent, it has actually resulted in a shrinkage of the economy by at least 0.4 percent.
The solution: The Bureau of Economic Analysis of the US Department of Commerce has explained the money relief to growth. An economic novelion, in which we could only breathe the eyes of the eyes, rose the also sponsored consumer prices (CPI) in 2. Quarter by plus 4.4 percent and producer prices (PPI) even plus 7.6 percent against the previous year. In July 2008, the CPI rose to a 17-year high of 5.6 percent, the PPI on a 27-year high of 9.8 percent and import prices on the previous record level since the data collection by nearly 22 percent. A circumstance that caused the US Central Bank to significantly reduce the increase in money in August 2008 and thus initiate the deflation of share prices.
Who needs M3?
For years, the money amount M3 is no longer published so that the population can make a little understood the action of the Federal Reserve possible slightly. The alleged export boom has meanwhile collapsed like a card house. The official gross national product of about 14.000 billion US dollars, which consists of a quarter of accounting tricks, always implodes.
Instead of talking openly from a depression, a recession is spoken, which can be overwhelmed at the end of 2009. Even the deflation is a welcome manipulation gift for the accounting tricks of the central bankers. The calculating: the lower the inflation expectations that are included, the highly highlights the US gross national product. Probably the one who can only believe in the statistics he has fell.
Although the global banking system resembles a morgue, banks can be suddenly achieved profits. The trick: The American "Financial Accounting Standards Board" decided that the banks no longer to market their toxic securities on the market value, which is not to be determined in non-tradable papers anyway and is even at zero for many papers, but can account for their own drawing. This reduces the depreciation requirement dramatically, which is not only for lower losses, but suddenly even as with Goldman Sachs to a high profit in the 1. Quarter 2009 from 1.7 billion usd leads (like banks "positive" Cost quarter results).
But not enough. In order to use the profit even further, the change from an investment bank to a "normal" Business bank the business quarter from before December to February on January to Marz. This was not bad, you had not hidden a loss of $ 1 billion in December. It becomes more apparent that the more flexible rules are a serious mistake, as so that the balance sheets are no longer meaningful.
With farmer’s tricks à la Goldman, the destructed trust is not restored to the banking industry. The fact that the profit passes exist only from accounting tricks is also shown in the fact that the real economy in the US continues to deteriorate. It was the manipulations of the balance sheets that the crisis must be allowed. And so, in many bank balances, rabswurren securities.
Risk Deutsche Bank
All German financial institutions have taken together only one equity of just under 300 billion euros in a balance sheet total of 8.000 billion euros. This corresponds to an average equity ratio of less than 4%. These figures are frightening, since only value – accounts of 4% of all assets were excluded all equity of all financial institutions of the Federal Republic of Germany. If one goes out of realistic value adjustments of about 20%, the federal government if he wanted to save all banks, 1.Slide 600 billion euros.
The state was at private banks in Germany at the partial nationalized Commerzbank with 18 billion and at Hypo Real Estate with 92 billion euros for toxic securities. The completely supercussed Deutsche Bank, with equity of only 35 billion euros and thus an equity ratio of less than 2%, was the main profit of the new accounting rules. Shortly before the revelation that the bank also needed state aid, the bank gains trained bankruptcy.
But the problems have not dissolved in air hereby. In the balance sheet, questions of asked securities of about 90 billion euros, which are not valued at market prices, but on moon prices. The institute is almost jelly with the lever 60. Even more impressive is the auberbilanzial derivatives volume of the industry prize. It is 19 times the German gross social product. Thus, Deutsche Bank (as well as UBS for Switzerland) has become an incalculable risk for the Federal Republic of Germany.
Not the accounting is the actual problem, but the way market prices were manipulated and balance sheets were bonded. The untailed enrichment with the help of uncovered checks has to always support high reviews and to zombie banks like Lehman. Now, where the ratings are in the basement, these are suddenly no longer fairly rated fairly. Profits and bonuses are gladly confronted, but losses should be socialized.
Obviously, nobody wants to assist in the banking world that the alleged economic growth of the USA in the years 2003 to 2007 was nothing but a speculative soap bubble based on illusionar spell gains. Banks are now taken to distribute the losses on future periods. The so-called bad banks also serve only the balance sheet false. If toxic papers are set too high, the troubleshooting or a possible bankruptcy will be relocated to the future – according to the principle hope that one wins time with this mockage to escape the bankruptcy.
This applies in particular to the Landesbanken where toxic securities in a magnitude of at least 500 billion euros cancel. If everything should be saved now, which is not to be saved, then the central principle of the market economy is thrown that it is private property with personal liability, thrown onboard. Therefore, there is only one solution – a variety of banks will have to go bankrupt, otherwise a new ghost around in Europe: the zombie!