Sunday, April 24, 2016

Draghi Is Playing With Fire
"The key question of the day concerned the BIS changing the risk weighting on sovereign debt. This is something I have discussed many times and it is critical to the ECB QE program. If the central banks key adviser, the BIS, were to require European banks to haircut the sovereign debt on its balance sheets, the capital costs would cause many European banks to implode because of lack of capital. Draghi and his Vice President, Vitor Constancio are pushing hard for the preservation of the status quo for zero risk weighted assets. Pay close attention to this issue for it can undermine the entire ECB QE program. The most advantageous position for Draghi is that the risk weightings will be influenced by the BIS Financial Stability Board which is chaired by BOE Mark Carney. Governor Carney is opposed to Brexit and will not want to provide any more uncertainty to the U.K. referendum by causing more turmoil in the EU. Draghi has a strong insider to make his case. As I have previously stated: The question for all European debt investors ought to be. Who guarantees the ECB? When the Germans awake to Draghi’s trap, the spark may have started the Prairie Fire."
- Yra Harris
LINK HERE to the commentary

1 comment:

Anonymous said...



This Delaware Address Is Home to 200,000 Shell Companies—Including Hillary Clinton’s


But one of its tenants may come as a surprise—a company owned by Democratic presidential frontrunner Hillary Clinton.

Hillary and Bill Clinton quietly set up two shell companies listed at “1209 North Orange Street” in 2008 and 2013, the Washington Free Beacon has found. The names of the companies, but not their location, were first made public in tax filings released by Hillary Clinton last year.

According to records, one of the Clintons’ “1209 North Orange Street” companies is WJC, LLC, which was set up by Bill Clinton in 2008 as a pass-through for his consulting fees.

Another company at the same location, ZFS Holdings, LLC, was set up in February 2013, one week after Hillary Clinton left the State Department. Hillary Clinton received $5.5 million from her book publisher, Simon & Schuster, through the company.

The “1209 North Orange Street” building is the headquarters for the Corporation Trust Company. The firm acts as a registered agent for thousands of corporations that are not actually located in Delaware, including the Clintons’ companies.

Anti-secrecy advocates say the building is prime evidence that Delaware has become a corporate haven that’s comparable to more well-known, offshore locales.

“If you imagined a building with 1,000 corporations in it, you’d imagine a building like the Empire State building,” said Richard Phillips, a senior policy analyst with Citizens for Tax Justice. “But apparently 285,000 companies claim [1209 North Orange Street] is their address.”


http://freebeacon.com/issues/delaware-address-home-200000-shell-companies-including-hillary-clintons/

https://twitter.com/HenryMakow/status/724066075806048256