Suzuki (SZKMY.PK) says it will cancel its partnership with Volkswagen (VLKAY.PK) as talks between the car companies grow strained, but VW says it has no plans to sell its shares. The companies forged a capital tie up in 2009 under which the German partner acquired shares in the Japanese manufacturer for ~€1.7B. [View news story]
That's almost as funny as VW telling people they own Porsche for 3 years, then coming out and saying next year the deal will go through. VW actually came out with the news they are now World #1 Car Company. What they don't say is they counted the production totals of Porsche and MAN, neither of which they own a majority share in.
Porsche actually owns 53% of Volkswagen. VW smells as bad as their phony balance sheet, putting them in league with Deutsche Bank, there's a fertilizer deal for BHP Billiton! Who needs Potash?
Deutsche Bank (DB): Q3 net profit €777M ($1.1B) vs. loss of €1.2B a year earlier (when bank took a €2.3B charge on purchase of Postbank) and forecast of €425M. Net revs +47% to €7.3B, although flat without the Postbank charge. Exposure of €4.79B to sovereign debt of Greece, Italy, Spain, Ireland and Portugal. (PR) [View news story]
That's bs. I was just on the phone with Frankfurt (DB) and was told the exposure to PIIGS was 4.79 Billion Euros, so much for the phony 250 Mil Euro total exposure to Greece they claimed 2 weeks ago, only confirming they are house built on lies.
Investment Banking branch cleared a pathetic 70 Mil Euros for 2011 Q4, compared to over 1 Bil. Euros same Q4, 2010.
Did CNBC's Carl Quintanilla actually make Michael Moore look like a genius? "The Dow is up 95, and that's what we cover on this network. Do you own any equities...?" Moore says no: "It's your job not just to report that the Dow is up 95 [but] to go in there and find out what's really happening... who's dividing this pie up so that the 1% get the majority of it. That's really the story." [View news story]
????????????
How did it go from Michael Moore being on CNBC, to a student Waiter, you claim to have met with an interest in gay Italian artifacts? Subject matter was not about useless degrees.
Was it meant as a financial metaphor and we didn't get it?
Is Moore's next project about gay Italian artifacts being exploited through globalization?
Did we miss something, or can we get back to the subject of Moore appearing on CNBC now?
Did CNBC's Carl Quintanilla actually make Michael Moore look like a genius? "The Dow is up 95, and that's what we cover on this network. Do you own any equities...?" Moore says no: "It's your job not just to report that the Dow is up 95 [but] to go in there and find out what's really happening... who's dividing this pie up so that the 1% get the majority of it. That's really the story." [View news story]
Michael Moore, and his big mouth, are a liability. ANY fan of his that doesn't realize his reverse socialist psychology agenda, are themselves, victims of Hollywood Capitalism. Keep buying his books and DVD's lemmings, that's the whole point. It is a sick and cruel experiment in "herd behavior", tag, you're it. You are filling his pockets whilst he continues to spew his clearly manic agenda, never targeting the film industry which has paid for his homes and collection of toys.
Moore himself, is the posterboy for Capitalism. And sadly, a crowd draw, hence his appearance on CNBC.
Whither Europe? Towards The German Banks [View article]
Germany understands nothing, full stop.
If you are German, don't take it personal, it's business. Germany were the first one's to jump on the Greek Bond corpse last year, and loudly encouraged others to follow. Get your facts in order, Germany's intention to exploit Greece, and the periphery was clear from the start.
In fact, because of Germany, the periphery are being forced to suffer, while Germany and it's banks (both of them) continue to act with impunity. Deutsche bank and Commerzbank will need 175 Bil to 200 Bil Euros for the 9% RECAP, as Schulman said. And Schulman, you are a Mentsch, for telling it like it is.
Germany's problem is they are too arrogant to be asked to follow the IFRS. If they continue to play stupid, they should be forced to pay 9% as a fine, that will wake them up.
Everyone is sick of Germany and their arrogant "moral superiority" routine. Deutsche Bank still claims they were the only bank that did not ask for state help in 2008-09. What they don't want you to know is, they instead borrowed 66 Billion USD from the US FED.
Strange how Germany loves to bash the US daily in the Press, yet has to crawl to them for help.CEO Ackermann, is against the RECAP because they can't afford it. He's playing with casinos in Vegas and telling shareholders they won't hit the 10 Bil Euro target he promised them. For a Bank which claims to have 1.89 Trillion Euros in assets, that should be a 30 second transaction, except for the fact he has sunk 5 Bil Euros, or half of the 10 Bil Euro shareholder target into Las Vegas. Short them now, or cry later, that ship has sailed straight into hell and is not scheduled to return, all becuase of foolish German pride.
The entire RECAP for EU will exceed 1.5 Trillion Euros. This has nothing to do with the bailout needed afterwards, that will top out around 5 Trillion Euros.
The RECAP should be run by the ECB. All EU Banks, required to hold the requisite amount of 9%, kept in CASH on pallets, in the ECB vault, full stop. On a quarterly basis, banks would be required to report. Any bank not able to keep up with the requisite 9% for longer than 90 days, would be Nationalized by the country they represent. Banks that are insolvent will be paid for by shareholders, not taxpayers. This will force the shareholders to do their job in cracking that whip of authority and forcing the Boards to produce the results the shareholders expect. Being a shareholder is more than owning stock, it's about owning a company. Last time I checked, the owners tell the Managers, not the other way around, like in the case of Deutsche Bank. Quit asking them nicely, force them.
Note to the "Occupy" people, waste your time and freeze your butts off, or organize a "flash withdrawal" at Deutsche Bank, that will get their attention, or at least cause their stock to freefall, and produce a result. Get serious or go home.
Short First Solar Before It's Eclipsed [View article]
Nick, good one. Ignore the comments from the "poker room" investors, they only live to criticize an industry they cannot understand without wikipedia. Data sources are different where ever you look, also not your fault. For any bank balance sheet, anyone hands me that shows profitability, I can show them a bankrupt bank using the same figures. Don't sweat it, if the article had no merit, they wouldn't have let it be posted. Most of the ignorant comments come from virgins to SA anyway, hello ladies.
Global Financial Disaster Looms: European Banks Face Bankruptcy [View article]
Good article. There is a lot going on behind the scenes most are not aware of. Deutsche Bank is clearing out it's Dubai offices, and closing shop, claiming a "financial drought". Actually, it's a matter of trust. Nobody wants to do business with a bank teetering on insolvency, and the word is out in UAE, the big fish know the real deal, what most Germans and Europeans refuse to believe. The Sheikhs have cracked that whip and told Deutsche Bank to get the eff out of Dodge as it were. Loss of face due to a bank being run into the ground on their turf, is not one of their favorite topics of debate. As one of the "alleged" Top 10 Investment Banks, Deutsche Bank is right in line for more rating drops, if Italy and France are being looked at, according to press reports. Deutsche Bank has missed it's target earnings promised by it's clearly incompetent CEO, Josef Ackermann who continues to act with impunity, recklessly driving that bank to the edge of the cliff in a game of "financial chicken". Explain to your shareholders there Seppel, how it is you can't hit that 10 Billion Euro target, but you coughed up 5 Billion for some casinos in Las Vegas? What are you going to do, fly them into Vegas, and give them the chance to win it back?
The reason we target Deutsche Bank, is because in Germany, there is a daily report of how wonderful they are doing, and how this Financial Crisis, has hardly affected operations, and that Deutsche Bank was the only bank that did not need State financing after the last crisis. I guess most are not aware of the 66 Billion loan from the US FED that saved them? They do not like to admit to taking help, especially from the US whom they despise, unless they need money or advice that is. Quote me on the fall of Deutsche Bank, and watch when it happens, everyone will claim they "had no idea" something like this was going on, sound familiar? History repeating, I'll be the guy with the beard in the background wishing you "a frohliche nitl".
We bought in at $13.70 in fall of 2008, and could not be more pleased with it's performance in the past 3 years. We will continue to hold our shares as projects in the pipe will be good earners.
Just hours after Deutsche Bank warns that France could be put under negative watch by the credit rating agencies before year's end, Moody's says France's fiscal condition is "among the weakest of France's Aaa peers... Over the next three months, Moody's will monitor and assess the stable outlook in terms of the government's progress." [View news story]
Deutsche Bank should talk, they were just placed on RWN last week themselves for a littany of reasons. Not only that, their Short Term IDR affirmed at "F1+", Individual rating affirmed at "B/C", and Senior Debt Long term "AA-" placed on RWN, and Short Term Senior debt affirmed at "F1+". I would say they have enough to worry about right now, add to that the fact that their share price has dropped 50% since July as well as a 50% drop In Market Cap. Can you spell I-N-S-O-L-V-E-N-C-Y? I can D-E-U-T-S-C-H-E B-A-N-K. Short them now, even if you have to re-mortgage your house, and bring your kids home from college for a semester, it will be worth your while.
Wall Street Breakfast: Must-Know News [View article]
Of course Ackermann is against the recapitalization of Deutsche Bank, it means showing the real books. Unusally microscopic Market Cap for a bank claiming to have 1,89 Trillion Euros in assets, I smell BS, have been bashing them for months on this site. They would also need tens of billions of Euros for a rescue. They are holding warehouses full of bad paper from Spain & Italy, who are holding Greek paper, it's full blown financial AIDS. Their Bank Financial Strength was lowered to "C+" on 11 August 2011 by Moody's and they tried to keep it out of the press. Their shareprice has lost 50% since July, Market Cap 50% as well. Most major German Industrials bank with them as well, with leverage currently at over 49:1, it won't take much for them to fail. The Telegraph (UK) article today isn't helping them either.
That's the sick part about Germany. No other industrialized (thank the US) country has walked away from more debt in the past century as Germany. They owe the US so much effing cash it's sick, and they constantly bash the US in the German news, every single day. They love to blame others for everything. What I think is great, is now they will be left holding the bag with those haircuts being mentioned at 50% or higher, couldn't happen to a better market virgin than Germany anyway. The Slovakia vote, not so sure. They have definitely been threatened, believe that, so that new vote could swing the other way. It isn't hard to win someone over who has 3 burned out cars from the 1950's on his front lawn, and two goats in his living room, 100 bucks would do the trick, excuse my cheerful nature today, I just recieved good news. Don't forget to go to the CFTC website and get tomorrow's COT Short Report / Financial Futures - Combined Options & Futures, want to see what the 3 Month Eurodollar looks like, can you say PARITY vs. USD? I'm willing to bet a bagel & schmear, it's right round the corner.
The euro reverses course from earlier falls in Asia and is +0.9% at $1.378 as investors take the view that Slovakia will endorse the strengthening of the eurozone's rescue fund despite yesterday's rejection. Profit-taking from previous short positions is also helping. [View news story]
Is that before, or after someone is found hanging under a bridge?
It's a sea of red in Europe after Slovakia blocks expansion of the eurozone's rescue fund - for now - and disappointing Alcoa results, which are dragging down the heavily-weighted resources sector. Euro STOXX 50 -0.6%, London -0.5%, Paris -0.4%, Frankfurt -0.8%. However, euro +0.2% vs. the dollar. [View news story]
No surprise there, tell us something we couldn't see coming. You didn't actually need a Ouija Board, a bottle of Rum, and a dead chicken to forecast that one. Stalling for time allows everyone to get their shorts in place. I know you will laugh about that, but what you do not know, is what I do know. There are massive shorts on place right now, money can be made regardless of the market direction, and everyone you'd least expect is involved right up to their Cro-Magnon foreheads.
This Time Is No Different Than Before [View article]
I agree, the Press have people filling their shorts over this. Most of us Market Professionals know what's coming, timing is the part most get wrong.
What gets me twisted, is the lack of Banking Regulation, which allows fraction reserve banking to even exist, and the virgins in our industry that think macroprudential policy is only capital requirement oversight.
We all know, every 2 years there is a big correction, full stop. We also know, that without more transparancy, rogue banks like Deutsche Bank will keep leveraging at 32:1, and drag the entire system down. The new EBA legislation is a start, while making banks and their shareholders responsible for the sins and losses of the banks, allbeit this will take years to enact with countries like Germany playing stupid with regulators. Germany still thinks IFRS is an STD, and are world famous for their smelly balance sheets, and still no investigations, fines, suspensions. If the unguided missles who are currently protesting Wall St. want to be effective, the should organize a flash mob bank run, stop fractional reserve banking, and clean the system from the bottom up.
In depth they mention a 50-60% haircut for creditors. Now, go to the IMF webpage and check the World Economic Outlook, released days ago. See page 3, on the right there is a graph showing Germany's exposure to Spain & Italy, as Germany owns buttloads of their debt, and they in turn own mountains of Greek paper. This will be Germany's hemlock to drink by themselves, as once again, the inexperienced will suffer when diving into the shallow end of the pool. Hardee har har, when ever there's a cry for...... common sense, look up in the sky....., it's a bird, it's a plane, it's "anti-Kraut man", no dolphins were injured in writing this comment.
Suzuki (SZKMY.PK) says it will cancel its partnership with Volkswagen (VLKAY.PK) as talks between the car companies grow strained, but VW says it has no plans to sell its shares. The companies forged a capital tie up in 2009 under which the German partner acquired shares in the Japanese manufacturer for ~€1.7B. [View news story]
Porsche actually owns 53% of Volkswagen. VW smells as bad as their phony balance sheet, putting them in league with Deutsche Bank, there's a fertilizer deal for BHP Billiton! Who needs Potash?
Deutsche Bank (DB): Q3 net profit €777M ($1.1B) vs. loss of €1.2B a year earlier (when bank took a €2.3B charge on purchase of Postbank) and forecast of €425M. Net revs +47% to €7.3B, although flat without the Postbank charge. Exposure of €4.79B to sovereign debt of Greece, Italy, Spain, Ireland and Portugal. (PR) [View news story]
Investment Banking branch cleared a pathetic 70 Mil Euros for 2011 Q4, compared to over 1 Bil. Euros same Q4, 2010.
Did CNBC's Carl Quintanilla actually make Michael Moore look like a genius? "The Dow is up 95, and that's what we cover on this network. Do you own any equities...?" Moore says no: "It's your job not just to report that the Dow is up 95 [but] to go in there and find out what's really happening... who's dividing this pie up so that the 1% get the majority of it. That's really the story." [View news story]
How did it go from Michael Moore being on CNBC, to a student Waiter, you claim to have met with an interest in gay Italian artifacts? Subject matter was not about useless degrees.
Was it meant as a financial metaphor and we didn't get it?
Is Moore's next project about gay Italian artifacts being exploited through globalization?
Did we miss something, or can we get back to the subject of Moore appearing on CNBC now?
Did CNBC's Carl Quintanilla actually make Michael Moore look like a genius? "The Dow is up 95, and that's what we cover on this network. Do you own any equities...?" Moore says no: "It's your job not just to report that the Dow is up 95 [but] to go in there and find out what's really happening... who's dividing this pie up so that the 1% get the majority of it. That's really the story." [View news story]
Moore himself, is the posterboy for Capitalism. And sadly, a crowd draw, hence his appearance on CNBC.
Whither Europe? Towards The German Banks [View article]
If you are German, don't take it personal, it's business. Germany were the first one's to jump on the Greek Bond corpse last year, and loudly encouraged others to follow. Get your facts in order, Germany's intention to exploit Greece, and the periphery was clear from the start.
In fact, because of Germany, the periphery are being forced to suffer, while Germany and it's banks (both of them) continue to act with impunity. Deutsche bank and Commerzbank will need 175 Bil to 200 Bil Euros for the 9% RECAP, as Schulman said. And Schulman, you are a Mentsch, for telling it like it is.
Germany's problem is they are too arrogant to be asked to follow the IFRS. If they continue to play stupid, they should be forced to pay 9% as a fine, that will wake them up.
Everyone is sick of Germany and their arrogant "moral superiority" routine. Deutsche Bank still claims they were the only bank that did not ask for state help in 2008-09. What they don't want you to know is, they instead borrowed 66 Billion USD from the US FED.
Strange how Germany loves to bash the US daily in the Press, yet has to crawl to them for help.CEO Ackermann, is against the RECAP because they can't afford it. He's playing with casinos in Vegas and telling shareholders they won't hit the 10 Bil Euro target he promised them. For a Bank which claims to have 1.89 Trillion Euros in assets, that should be a 30 second transaction, except for the fact he has sunk 5 Bil Euros, or half of the 10 Bil Euro shareholder target into Las Vegas. Short them now, or cry later, that ship has sailed straight into hell and is not scheduled to return, all becuase of foolish German pride.
The entire RECAP for EU will exceed 1.5 Trillion Euros. This has nothing to do with the bailout needed afterwards, that will top out around 5 Trillion Euros.
The RECAP should be run by the ECB. All EU Banks, required to hold the requisite amount of 9%, kept in CASH on pallets, in the ECB vault, full stop. On a quarterly basis, banks would be required to report. Any bank not able to keep up with the requisite 9% for longer than 90 days, would be Nationalized by the country they represent. Banks that are insolvent will be paid for by shareholders, not taxpayers. This will force the shareholders to do their job in cracking that whip of authority and forcing the Boards to produce the results the shareholders expect. Being a shareholder is more than owning stock, it's about owning a company. Last time I checked, the owners tell the Managers, not the other way around, like in the case of Deutsche Bank. Quit asking them nicely, force them.
Note to the "Occupy" people, waste your time and freeze your butts off, or organize a "flash withdrawal" at Deutsche Bank, that will get their attention, or at least cause their stock to freefall, and produce a result. Get serious or go home.
Short First Solar Before It's Eclipsed [View article]
Global Financial Disaster Looms: European Banks Face Bankruptcy [View article]
The reason we target Deutsche Bank, is because in Germany, there is a daily report of how wonderful they are doing, and how this Financial Crisis, has hardly affected operations, and that Deutsche Bank was the only bank that did not need State financing after the last crisis. I guess most are not aware of the 66 Billion loan from the US FED that saved them? They do not like to admit to taking help, especially from the US whom they despise, unless they need money or advice that is. Quote me on the fall of Deutsche Bank, and watch when it happens, everyone will claim they "had no idea" something like this was going on, sound familiar? History repeating, I'll be the guy with the beard in the background wishing you "a frohliche nitl".
2011 Analysis: Brookfield Infrastructure Partners [View article]
Just hours after Deutsche Bank warns that France could be put under negative watch by the credit rating agencies before year's end, Moody's says France's fiscal condition is "among the weakest of France's Aaa peers... Over the next three months, Moody's will monitor and assess the stable outlook in terms of the government's progress." [View news story]
Wall Street Breakfast: Must-Know News [View article]
Greece: The First Of The Dominoes? [View article]
The euro reverses course from earlier falls in Asia and is +0.9% at $1.378 as investors take the view that Slovakia will endorse the strengthening of the eurozone's rescue fund despite yesterday's rejection. Profit-taking from previous short positions is also helping. [View news story]
It's a sea of red in Europe after Slovakia blocks expansion of the eurozone's rescue fund - for now - and disappointing Alcoa results, which are dragging down the heavily-weighted resources sector. Euro STOXX 50 -0.6%, London -0.5%, Paris -0.4%, Frankfurt -0.8%. However, euro +0.2% vs. the dollar. [View news story]
This Time Is No Different Than Before [View article]
What gets me twisted, is the lack of Banking Regulation, which allows fraction reserve banking to even exist, and the virgins in our industry that think macroprudential policy is only capital requirement oversight.
We all know, every 2 years there is a big correction, full stop. We also know, that without more transparancy, rogue banks like Deutsche Bank will keep leveraging at 32:1, and drag the entire system down. The new EBA legislation is a start, while making banks and their shareholders responsible for the sins and losses of the banks, allbeit this will take years to enact with countries like Germany playing stupid with regulators. Germany still thinks IFRS is an STD, and are world famous for their smelly balance sheets, and still no investigations, fines, suspensions. If the unguided missles who are currently protesting Wall St. want to be effective, the should organize a flash mob bank run, stop fractional reserve banking, and clean the system from the bottom up.
Greece: The First Of The Dominoes? [View article]
In depth they mention a 50-60% haircut for creditors. Now, go to the IMF webpage and check the World Economic Outlook, released days ago. See page 3, on the right there is a graph showing Germany's exposure to Spain & Italy, as Germany owns buttloads of their debt, and they in turn own mountains of Greek paper. This will be Germany's hemlock to drink by themselves, as once again, the inexperienced will suffer when diving into the shallow end of the pool. Hardee har har, when ever there's a cry for...... common sense, look up in the sky....., it's a bird, it's a plane, it's "anti-Kraut man", no dolphins were injured in writing this comment.