Posted By: Seawitch [Send E-Mail]
Date: Sunday, 5-Aug-2012 19:41:04
BREAKING NEWS: Reconsolidation, Recollateralization and Repatriation Continues
by Tom Heneghan, International Intelligence Expert
UNITED STATES of America - It can now be reported that the U.S. Inspector General, along with IMF (International Monetary Fund) officials, are jointly coordinating major redemption and repatriation of collateralized assets from offshore proprietary accounts reference property rights, precious and industrial metals, along with oil and natural gas holdings (India, China, Singapore and the Philippines).
The word from the IMF is out that because of the irregularities of the LIBOR rate worldwide banks need to reconsolidate and recollateralize and not create more derivatives that would immediately be absorbed in borrowing costs and create more deflation not inflation with the banks being unable to really loan money.
A recent short term bridge loan to the government of Greece that was supplied to them by the Bank of Greece has alarmed IMF officials.
Note: The Bank of Greece's stockholders include German Deutsche Bank, the Bank of Shanghai in mainland China, along with former President George Herbert Walker Bush, former Secretary of State Colin Powell, banking giant Goldman Sachs and Bank of America, together with current New York City Mayor Michael Bloomberg (owner of Bloomberg News).
Question to Bloomberg News: Have you heard that sources close to the German Budenstag (German Parliament) believe the German Supreme Court will rule that the ESM (European Stability Mechanism) is unconstitutional under German law when they convene on September 12, 2012?
Item: At this hour, IMF President Christine Lagarde and Bundesbank CEO Jens Weidmann believe ECB (European Central Bank) President Mario Draghi exceeded the scope of his mandate. Lagarde and Weidmann also have informed the German Deutsche Bank that their balance sheet needs to be recapitalized with real assets.
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