~*~” THE FATBERG TIP, THE CULDRON OF FRAUD, HUBBLE BUBBLE WITH NO TOIL LOTS OF TROUBLE. Last Week In LONDON A 16.5 Ton Of Confluence Of Wet-Wipes And Lard Was Found Lurking In The Sewer System, No It Wasn’t J.P.MORGAN’s LONDON Whale Nor Was It J.P.MORGAN’s Derivatives Book It’s Manipulation Of The Energy Market Or It’s Bogus Mortgage Backed Securities, This Was A Whole Different Pile Of Wet-Wipes ‘N’ Lard, This Was ‘FATBERG’ Tell Us More STACY. Stacy: Yes MAX, This Was FATBERG And It Was Lurking In The Sewage System Here, We Are Going To Use This As A Metaphor For The Global FATBERGER FRAUD Going On Around The World. So First Let’s Look At This Thing That Was In The Sewage System Here, Grist.org: Blimy, It’s Slimy: Meet FATBERG, LONDON’s 16.5-Ton Confluence Of Wet-Wipes And Lard. The 33,000 Pound ‘Berg Came From Modest Beginnings: Flushed Wet-Wipes And Food Waste Created From BRIT’s Pouring Grease And Fatty Foods Down The Drain. “FATBERG Creation Is A Vicious Cycles,” THAMES Water Media Relations Manager SIMON EVANS Told HENRY GRABAR Of ATLANTIC CITIES. “Fat Clings To Wipes, Wipes Cling To The Fat.” Max: Oh!! Right, It’s Err!! As Big As 2 Of These Huge LONDON Buses And They Noticed It Because The Water In The Toilets Started Backing Up, So This Analogous To The Debt Concentration Or Confluence Of Debt In The Global Economy It’s Backing Up In Terms That You See, You Know Certain Things Happening Like Prices Of Certain Items Keep Popping Up, As A Result Of This Massive DEBTBERG As A Result Of This Massive DEBTBERG At The Centre Of The Financial System Or As In This Case The Lard And Wet-Wipes Fat Confluence Concentration At The Centre Of The LONDON Toilet System The Sewer System Due To A Lot Of Similar Influences. Stacy: Well The LONDON Sewer System Is One Of The Oldest In The World And It Is Still The Same Exact Victorian Sewage System That Worked Beautifully For A Hundred Years, And Then Modern Technology Of Wet-Wipes And Lard The… Everybody Is Eating Out, Fast Food, Convenience’s, Advancement Of Society Has Created These Confluences Of Lard And These Giant BERGS In There, And The Same With The Global Financial System That Worked Fine Until We Have This Creation Of Derivatives Which Allowed For Not Only Debt To Build Up But Also Fraud To Build Up ‘Cause You Can Hide It All Behind The You Know The Wet-Wipes That Made It Look Like It Was You Know It Had Cleaned It Up, It Made It Look Clean, But It Was Creating Disasters Elsewhere And We Didn’t See It By The Way FATBERGER FRAUD Only When It Sort Of Backing Up The Global Financial System. Max: Okay! So The Wet-Wipes In The Derivatives Market Are Meant To Clean Up Balance Sheets Of Banks Like J.P.MORGAN And GOLDMAN SACHS They Use Wet-Wipes, They’re Spewing Out Or They’re In This Case Defecating A Risk That They’re Not Keeping On Their Own Books That’s Why Banks Like J.P.MORGAN, H.S.B.C. Or BARCLAYS Are Reporting Profits Because They’ve Been Able To Exude Or Defecate Their Risk Into The General Sewer Of The Global Population Using The Financial Enhancement Or The Financial Engineering Advancement Of A Wet-Wipe Which Could Be Credit Default Swaps (CDS’s) Could Be Mortgage Backed Securities. It Could Be A All Manner… Even Lord SUGAR By The Way Is Suing For Being Miss Sold CDS’s By One Of The Big Banks Here, So He’s Being Wet-Wiped So You’ll See Lord SUGAR Will Probably Be Flushed Down The Derivatives Sewer At Some Point We’ll See His Head Bobbing Around In There Having Been A Victimised By The Wet-Wipe Derivative Market Here I LONDON. Stacy: Well We Did See In Senate Testimony Actually Regarding GOLDMAN SACHS Collateralised Debt Obligations (C.D.O.’s) Of CDO’s Of Mortgage Backed Securities Where They Actually Themselves Used The Term PHOO!! And So Did BEAR STEARNS Now All Of Those Stories Are In The Headlines Now When We Look At FATBERGER FRAUD Going On And This FATBERG In LONDON Sewage System By The Way They Got Rid Of It, Grist.org: This Blob Couldn’t Just Be Killed With Fire Extinguishers: It Took A Team Of Eight To Blast The Monstrosity Apart With High-Pressure Water Hoses, And Repairs Are Expected To Take Six Weeks. Stacy cont: It’s A BIG JOB Too Clean It Up, We’re Going To Look At That For The Financial System, @huffpostbiz: J.P.MORGAN: We’re Being Investigated By DOJ (Department Of Justice) Over Mortgage’s. Stacy cont: Now This Isn’t The BEAR STEARNS Mortgages That They’re Talked About And They’ve Said The Only Problems In Our Mortgage Securities Backed Department BEAR STEARNS That We Brought In 2008 NO! NO! NO! These Are 2005 To 2007 Pools Of Mortgages, Conveniently Of Course Beyond The Statute Of Limitations That Nobody Will Actually Do Jail Time For This, But The Interesting Part About This Story Here That I Wanted To Point To In terms Of FATBERG is A FRAUD, Huffingtonpost: Efforts To Settle The D.O.J. Lawsuit May Be Complicated By A 2003 Settlement The Bank Reached With Federal Securities Regulators. In July Of That Year, J.P.MORGAN Settled Claims By The S.E.C. (Securities Exchange Commission) That It Violated Securities Laws In Connection With Its Dealings With ENRON, The Failed Energy Company. As Part Of That Settlement, Court Filings Show, The Bank Pledged To Refrain From Violating Federal Securities’, Laws, It’s Unclear How The Bank Could Be Affected By A Federal Lawsuit Alleging Violation Of Federal Securities Laws It Had Pledged Not To Break In The Years Immediately Following A Previous Settlement. Max: Right, So Here You Have ENRON Which Was A Poster Child For Security Fraud Off Balance Sheet Accounting, Evisceration Of Equity You Remember The Stocks Got Blown Up Went To Zero In A Matter Of A Few Weeks So J.P.MORGAN And Others Of Course They Were Involved In A Fraud And They As Part Of A Settlement They Said We Won’t Be Involved In Anymore Similar Fraud I Mean We’re Not Going To Pay Any Penalty Of Any Meaningful Size, No One’s Going To Go To Jail The Fact That We Defrauded Of People, But The One Thing We Defrauded Lots Of People But The One Thing We Definitely Won’t Do Is Repeat That Fraud Again, Of Course They Lie They Did Repeat That Fraud Immediately As We Talk About Here In The Mortgage Market They Went Ahead And Participated In Massive FATBERG Like Consternation Of Wet-Wipe Derivatives.”~*~ This Write Up Was Done By Blackhole Bridger There Is Much, Much More In This Mins 25:46 Secs Long Show With Your Hosts STACY HERBERT And MAX KEISER, To Get The Financial Know And Full Show Click Below. youtu.be/_FNXq7KVNzs
Posted on: Wed, 14 Aug 2013 02:13:10 +0000
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