Saturday 16 April 2011

Banks Facing $3.6 Trillion 'Wall Of Maturing Debt'


Banks facing $3.6 trillion 'wall of maturing debt',

IMF Global Financial Stability Report says

Debt-laden banks are the biggest threat to global financial stability and they

must refinance a $3.6 trillion "wall of maturing debt" which comes due in the

next two years, the International Monetary Fund said in its

Global Financial Stability Report.

Banks facing $3.6 trillion 'wall of maturing debt', IMF says
Banks around the world are facing a $3.6 trillion 'wall of maturing debt' coming due in the next two years said the IMF, led by Dominique Strauss-Kahn.

Many European banks need bigger capital cushions to restore market confidence and help reduce the risk of another financial crisis, according to the IMF's report, published on Wednesday.

Banks around the world are facing a $3.6 trillion "wall of maturing debt" coming due in the next two years, and the rollover requirements are most acute for Irish and German banks, the report said.

"These bank funding needs coincide with higher sovereign refinancing requirements, heightening competition for scarce funding resources," the IMF said.

However the IMF said Spain's efforts to control its budget deficit have increased investor confidence and make it unlikely the country will follow Portugal in calling for a bail-out.

"The actions that have been taken in Spain recently have managed to decouple in the views of markets the fortunes of Spain relative to those of Portugal" and Ireland, said Jose Vinals, director of the IMF's monetary and capital markets department.

Government debt was generally high and on a worryingly upward path in many advanced economies, the IMF said. It repeated its warning that the United States and Japan faced particularly dangerous debt dynamics.

Advanced economies were "living dangerously" with high debt burdens, and faced the difficult task of trying to pare deficits without choking off the economic recovery.

However Dominique Strauss-Kahn, managing director of the IMF, warned countries against cuttting their budgets too far and creating long-term unemployment.

"Fiscal tightening can lower growth in the short term, and this can even increase long-term unemployment, turning a cyclical into a structural problem," Mr Strauss-Kahn said in a speech in Washington DC. "The bottom line is that fiscal adjustment must be done with an eye kept keenly on growth."

Overall, the IMF said global financial stability has improved over the past six months. The most pressing challenges in the coming months will be funding of banks and sovereigns, particularly in vulnerable euro area countries, it said.

US banks built up capital buffers in 2009, when regulators completed a set of stress tests that revealed some large holes. But European banks still need to raise a "significant amount of capital" to regain access to funding markets, the fund said.

The European Central Bank's upcoming stress tests provide a "golden opportunity" to improve bank balance sheet transparency and reduce market uncertainty about the quality of assets on banks' books, the IMF said.

European banks won't be able to obtain all the necessary capital from markets, and public money may have to fill some of the gaps, it added. Banks could also cut dividend payouts and retain a larger portion of earnings.

The IMF said banks' exposure to troubled sovereign debt is "uncertain," which adds to the funding strains.

BRICS demand global monetary shake-up, greater influence




Related News
China's President Hu Jintao (2nd R) holds a bilateral meeting with his South African counterpart Jacob Zuma (unseen) in Sanya, Hainan province, April 13, 2011. REUTERS/Nelson Ching/Pool

SANYA, China | Thu Apr 14, 2011 3:09pm BST

(Reuters) - The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions.

The leaders of Brazil, Russia, India, China and South Africa also called for stronger regulation of commodity derivatives to dampen excessive volatility in food and energy prices, which they said posed new risks for the recovery of the world economy.

Meeting on the southern Chinese island of Hainan, they said the recent financial crisis had exposed the inadequacies of the current monetary order, which has the dollar as its linchpin.

What was needed, they said in a statement, was "a broad-based international reserve currency system providing stability and certainty" -- thinly veiled criticism of what the BRICS see as Washington's neglect of its global monetary responsibilities.

The BRICS are worried that America's large trade and budget deficits will eventually debase the dollar. They also begrudge the financial and political privileges that come with being the leading reserve currency.

"The world economy is undergoing profound and complex changes," Chinese President Hu Jintao said. "The era demands that the BRICS countries strengthen dialogue and cooperation."

In another dig at the dollar, the development banks of the five BRICS nations agreed to establish mutual credit lines denominated in their local currencies, not the U.S. currency.

The head of China Development Bank (CDB), Chen Yuan, said he was prepared to lend up to 10 billion yuan (936 million pounds) to fellow BRICS, and his Russian counterpart said he was looking to borrow the yuan equivalent of at least $500 million (306 million pounds) via CDB.

"We think this will undoubtedly broaden the opportunities for Russian companies to diversify their loans," Vladimir Dmitriev, the chairman of VEB, Russia's state development bank, told reporters.

ALL DOWN TO THE BRICS

The call by the BRICS for a new monetary order are not new.

But, coming hours before a meeting in Washington of finance ministers from the Group of Seven industrial nations, the traditional power brokers of the world economy, Thursday's communiqué showed the growing confidence of emerging markets.

Burdened by heavy debt, the United States, the euro zone and Japan are struggling to shake off the lingering effects of the 2008 global financial crisis. Rich countries will grow 2.4 percent this year and 2.6 percent in 2012, the International Monetary fund forecast this week.

By contrast, less well-off countries have emerged relatively unscathed. The IMF is forecasting that emerging and developing countries will grow 6.5 percent both this year and next.

"The quality and the durability of the global economic recovery process depends to a great measure on how the BRICS economies perform," Indian Prime Minister Manmohan Singh said.

The War On The US Economy





UK Crusader Challenges Elite Tyranny

April 16, 2011

_45987320_john_hill512.jpg
Left, Anthony John Hill

"All of the courts are "her majesty's" courts and ALL of the judges have sworn an oath to, and draw their authority from, the queen. But if she is a fraud, then NONE of the courts are operating lawfully since they gain their authority from her."


By Debra Siddons
(for henrymakow.com)

Are you looking for a way out of the System?

A unique opportunity has presented itself to create a new government in a peaceful and logical manner. We don't have to take up arms. All that is required is our solidarity and support for someone who is doing the hard work for us all.

That man is Anthony John Hill.

He is striking at the very heart of the NWO. He needs our support right now, not only for his benefit but for OURS. And all we have to do is spread the word to everyone we can.

The essence of this unique and unprecedented opportunity rests in an unusual court case involving John Hill, Producer of the documentary film "7/7 Ripple Effect" which can be googled and downloaded for free. Please see http://jforjustice.co.uk/77/

The 7/7/2005 London bombings were a false-flag terror attack orchestrated by the British government against the British people, much like 9/11.

The film exposes this in less than an hour using nothing but mainstream media reports which is why the British government has been persecuting John Hill for more than two years.

THEY don't want you to watch the film because it leaves no reasonable doubt in the rational mind of the guilt of the British government and the mainstream media, who all work for the same person...

queen_elizabeth_ii_coronation_1953.jpg
QUEEN E2

Elizabeth Battenberg/Mountbatten, also known as Elizabeth II, has been fraudulently pretending to be the queen now for 58 years.

To better understand just how evil this really is, it must be understood that she is the richest woman on the planet.

She is the single largest landholder, reportedly owning over 6600 million acres, which is 1/6 of the present land-mass of this planet.

She is the head of the United Kingdom and all of the Commonwealth countries. She is the head of the Church of England. She is the head of the Committee of 300. She is at the top of the NWO power structure.

For Americans who may be wondering why this is important to them, she controls the U.S. as well, through the banks and the legal system.

The same group of people who own the Bank of England own the Federal Reserve. The B.A.R. association serveS her. B.A.R. stands for "British Accreditation Registry". Most congressmen and US judges are lawyers.

The John Hill case is about proving that Elizabeth II is a fake. A fraud. A criminal impersonating the monarchy. And John Hill has rock-solid proof.

This is why THEY imprisoned him for 150 days, officially for sending DVDs of the "7/7 Ripple Effect" to a U.K. court as an Amicus Curiae (Friend of the court) brief. (He was recently released on bail.)

He sent the DVDs after both the judge and the QC barrister lied to the jurors about the guilt of the four alleged 7/7 suicide bombers. They rewarded him by arresting him and threatening him with life in prison.

This gross injustice has afforded John Hill the opportunity to challenge the authority and the jurisdiction of the so-called "queen" and expose her as a fraud.

All of the courts are "her majesty's" courts and ALL of the judges have sworn an oath to, and draw their authority from, the queen. But if she is a fraud (and she is a fraud), then NONE of the courts are operating lawfully since they gain their authority from her.

It is this contradiction in the legal system that John Hill will be exposing in painstaking detail at the trial. Please see this article for more details about the case.

It's about proving that Elizabeth II is a fake. A fraud. A criminal
impersonating the monarchy. And John Hill has rock-solid proof that
Elizabeth Alexandra Mary Battenberg/Mountbatten knowingly, and with
malice-aforethought, was UNLAWFULLY crowned upon a fake Coronation
Stone. John Hill also has documented proof that she has violated her
Coronation oath at least 3401 times to date, even if she had been
lawfully crowned in the first place, which she most definitely was
not.

John Hill is now awaiting this trial on May 9th, 2011 in the Southwark Crown court in London, England. Please see http://mtrial.org for the latest details in the case.

He needs our support, and more importantly WE need him to win. This is our opportunity to make a REAL difference in this world. Will YOU finally take action against this sea of hatred or will you fade into the shadows? There are a number of ways to support this effort. First of all, please spread the word. Contact any and all media outlets. Tell your friends. Spread the word any way you can. You cannot afford to sit idly by on this one. And for any of you that have the means, be there at the Southwark Crown court in London on the 9th of May. Overfill the courtroom. Show the system that we will not go down without a fight.

As you know, the NWO puppet governments don't want to surrender their power peacefully, so they will try to cheat somehow. The more people that are watching this trial, and in attendance that day, the harder it will be for the system to cheat.

If the idea of a peaceful revolution interests you, then please spread this information to everyone that you know that cares about freedom and justice. Do it right now and make sure it gets done. You know you've never seen anything like this before. Opportunity knocks only once and this is a fight or die situation for all of us.

This is not only an unprecedented opportunity, it's a blueprint. Once this idea is proven in England, peaceful and lawful revolutions can take place in the USA, Canada Australia, Ireland, New Zealand, etc. Or we can wait around to be exterminated just as the NWO has told us they are going to do to most of us. Simple choice really.

This is our most desperate hour. Our actions now can change this world forever for the better. Our inaction will result in the suffering and deaths of billions. Do the right thing, and you will be giving yourselves and your loved ones a fighting chance to survive by breaking this legislative stranglehold and delivering this crucial blow to the NWO.

Godspeed to you Anthony John Hill and thank-you from the bottom of our hearts for all you are doing.

---

Related





Debra Siddons works as a freelance reporter and Truth activist,
covering topics of religious, political, and historical importance.
She can be contacted at online.debra@gmail.com

Keiser Report: For a Few Billion Dollars More

    RT
    April 15, 2011

    This week Max Keiser and co-host, Stacy Herbert, report on the scrap metal crimewave, shorting US treasuries and other signs of economic chaos. In the second half of the show, Max talks to author and blogger, Cory Doctorow, about copyright extremists and about watching robots throw buildings at each other.

    A selection of recent media reports

    Immigrant Numbers Soar In Britain
    Britain's foreign-born population has reached nearly 7 million, 11 percent of the total, government figures show.
    OfficialWire (15-Apr-2011)

    Sham marriage fixer who tried to wed Nigerian man and Dutch lesbian jailed for three years
    A Ugandan man who organised a sham marriage between a Nigerian man and a Dut
    Mail Online (15-Apr-2011)

    Hospitals spend £15million on interpreters
    EXCLUSIVE: Hospitals in London have spent at least £15million on interpreters, the Standard reveals today.
    London Evening Standard (15-Apr-2011)

    Daily View: Reactions to Cameron's immigration speech
    Commentators react to David Cameron's speech about immigration ̢ۢ Read the speech in full The associa
    BBC Blogs (15-Apr-2011)

    One in every eight people now living in UK was born abroad
    Tories warn Labour's 'spineless and futile' attempts to control immigration have left a 'grave situ
    Mail Online (15-Apr-2011)

    Jail term for Essex sham marriage fixer
    A man who arranged a sham marriage at a church in Essex has been jailed for three years.
    BBC News England (15-Apr-2011)

    London doesn't work without immigrant workers
    It's relatively unusual to get served by a Brit in a London restaurant these days. Yet your table is rarely more than
    London Evening Standard (15-Apr-2011)

    Switzerland has decided to tighten restrictions for job-seekers from Bulgaria and Romania
    Switzerland has decided to tighten restrictions for job-seekers from Bulgaria and its northern neighbor Romania right after the Dutch closed the door on them.
    Balkans.com Business News (15-Apr-2011)

    UK lags in fight against trafficking
    The UK is less effective than Albania and Taiwan at protecting victims of human trafficking, a report has claimed.
    The Scotsman (15-Apr-2011)

    Sponsored by Honesty over immigration
    FOR too long, politicians of all major British parties have been scared to discuss immigration. The results of this se
    Yorkshire Post (15-Apr-2011)

    Why is the BBC STILL so hideously biased on immigration?


    By ANDREW GREEN


    Last updated at 8:58 AM on 15th April 2011




    David Cameron has just made the most important speech on immigration of any Prime Minister for many years.

    He tackled the subject in a frank, open, comprehensive and factual manner, while remaining sensitive to the delicacy of the issues.

    He set out a clear aim — to get net immigration down to tens of thousands — while disposing of the myth that EU migration would render this impossible.

    Immigration levels may worry the public but the BBC won't allow the subject to be discussed, at least that's what you would think by monitoring its coverage

    Immigration levels may worry the public but the BBC won't allow the subject to be discussed, at least that's what you would think by monitoring its coverage

    He didn't shy away from describing the widespread abuse in the immigration system, whether by forced or sham marriages, bogus students, dodgy colleges, or dubious work permits.

    This was a very significant contribution from a national leader addressing a sensitive issue that troubles a huge number of people in this country.

    Yet if you had listened to Radio 4 you would not have known it. Their treatment of this story was abysmal.

    The Today Programme, the so-called jewel in the BBC's crown, introduced the item with a sound-bite from the BNP claiming that the Government had adopted their policies, but 20 years too late. How is that for a smear?

    This was followed by a hostile interview with the Immigration Minister, Damian Green, in which the presenter accused the Prime Minister of making 'an anti-immigrant statement'.

    What was he referring to? The Prime Minister's sin, apparently, was to say that 'real communities are bound by common experiences'.

    Balanced? Immigration Minister, Damian Green, was asked to defend David Cameron's 'anti-immigrant statement'

    Balanced? Immigration Minister, Damian Green, was asked to defend David Cameron's 'anti-immigrant statement'

    His speech went on to say that 'communities are forged by friendship and conversation, knitted together by all the rituals of the neighbourhood, from the school run to the chat down the pub. All these bonds can take time. So real integration takes time.'

    Most of us would think that this was a statement of common sense — not to say the blindingly obvious. But not, it seems if you work for Radio 4.

    The rest of the interview bore so little relationship to the Prime Minister's speech that one wondered whether the presenter had even read it.

    Next to weigh in was the BBC website which ignored a sensible contribution from the Lib-Dem spokesman, Tom Brake, later on the Today Programme.

    Instead it led with a headline in which Vince Cable described the Prime Minister's speech as very unwise and risked 'inflaming extremism'. Nobody who had read the text could possibly draw such a conclusion, but the headline suited the BBC's agenda.

    No surprise then that the World At One followed up with a discussion in which racism and extremism featured prominently.

    One is left wondering how it is possible to have a sensible debate on immigration when the largest news organisation in the country is so hideously biased on this subject — to adopt the terminology of its former Director General Greg Dyke, who complained memorably that the corporation was 'hideously white'.

    It would be wrong to tar the whole of the BBC with a Radio 4 brush. The BBC is a huge organisation. Some of their journalists are entirely professional, so are some of the editors.

    Radio 5 Live, for example, are a good deal more responsive to public opinion on this issue; they know from their phone-ins where public opinion lies and they seem to be less inclined to talk down to their audience.

    Nevertheless, there is a strong and widespread reluctance, particularly on Radio 4, to tackle the issue of immigration.

    Like many on the Left — and I make the connection advisedly — they believe that anyone who raises the subject must have some racist motivation.

    I was repeatedly asked by BBC interviewers whether it was racist to discuss the subject

    The fact that 77 per cent of the population want to see immigration reduced, that 50 per cent want it reduced by a lot and that a majority of the ethnic communities also want it reduced, is simply waved away. The public, it seems, are racist or stupid or both.

    This is not a new problem. Ten years ago, when I helped found MigrationWatch, an independent think-tank which monitors developments in and conducts research into immigration, we were virtually ignored by the BBC.

    When I was eventually given airtime, I was repeatedly asked by BBC interviewers whether it was racist to discuss the subject.

    This was despite the fact that the Prime Minister and Home Secretary of the day had both said that it was not, as had the Head of what was then the Commission for Racial Equality. The fact is that, on their own admission, the BBC have failed to achieve a satisfactory standard of impartiality in respect of immigration for a number of years.

    In 2007 the BBC Trust issued a report which questioned whether the BBC was being impartial over immigration.

    More recently, the Director General Mark Thompson made a similar admission in a talk to the Institute of Government last December. Talking about impartiality he said that it means 'not loading the dice or excluding some perspectives, but letting all voices be heard'.

    BBC colleagues Michael Beurk and Peter Sissons: 'What the BBC regards as normal and abnormal, what is moderate or extreme, is conditioned by the common set of assumptions held by the people who work for it'

    BBC colleagues Michael Beurk and Peter Sissons: 'What the BBC regards as normal and abnormal, what is moderate or extreme, is conditioned by the common set of assumptions held by the people who work for it'

    He pointed to specific areas of BBC coverage — business, Europe and immigration — where, as he put it, he believed the corporation had been less than balanced in the past but had made great strides towards better impartiality in recent years.

    On the evidence of yesterday's news, that claim is extremely dubious.

    The BBC veteran, Michael Buerk, in a recent review of the memoirs of his former colleague Peter Sissons made a highly relevant observation.

    He said: 'What the BBC regards as normal and abnormal, what is moderate or extreme, where the centre of gravity of an issue lies, are conditioned by the common set of assumptions held by the people who work for it.'

    He added: 'It's all very well-meaning, and painstakingly even handed, but often notably adrift of the overriding national sentiment.'

    He was spot on — except that the coverage of immigration has been far from even handed.

    The BBC can hardly avoid dealing with immigration. But they do not provide airtime for a rational case against the mass immigration that has been allowed to develop over the past dozen or so years.

    The time has come to review the way in which the BBC is held to account for the impartiality which is required of them

    The clearest evidence for this lies in their treatment of the Cross-party Parliamentary Group on Balanced Migration.

    This is a group of 50 Parliamentarians, led by Frank Field for Labour, and Nicholas Soames for the Conservatives. It includes a former Speaker of the House of Commons, a former Archbishop of Canterbury, a former Field Marshall, a former

    Leader of the Opposition, half a dozen ex-Cabinet Ministers and a number of peers and younger MPs.

    You would think that the BBC might want to draw on this group. Not at all. Frank Field has been on the Today programme twice in two-and-a-half years, the second occasion being mainly about the economy.

    The time has come to review the way in which the BBC is held to account for the impartiality which is required of them, and for which we are paying. The problem is that the BBC polices itself — a system that is simply not working,

    There is a proposal that the issue of impartiality should cease to be the responsibility of the BBC Trust and come under the independent media regulator Ofcom, as is the case for other broadcasters.

    This would at least detach this vital matter from the BBC 'mindset' which has long denied immigration the thorough and balanced treatment that it deserves. Ofcom could start by investigating the BBC's handling of the subject and publish the result.

    That in itself would be a first.

    Certainly, something has to be done or politicians will continue to regard the subject as so toxic that it is better avoided altogether.

    Here we had a Prime Minister setting out, in a clear and balanced way, the nature of the problem and the measures that the Coalition were taking to address it — something that the vast majority of the public both wish and need to hear.

    Yet the response of the over-mighty BBC was to trigger a row with connotations of race.

    If this is allowed to continue, rational policy discussion will become impossible and the public will become ever more alienated from our political leadership and ever more resentful of the mass immigration which, they feel, has been imposed on them.