Sg Ty,
Thanks for posting a small nice picture iso a giant pic to
occupy the precious
cyber space.Facts speak volume than noisy words.
1.multi-billion-dollar
surpluses
THE
Rudd Government is working on a stimulus package using its
multi-billion-dollar surpluses
I almost falls frommmy chair when i read this.
http://www.theaustralian.news.com.au/story/0,,24486160-2702,00.html?from=public_rss
u can see from my ytd postings that cash in Oz hands is A$ 15
billions.
It is just a small peanut in relation to the banks local and
foreign debts gurantee
and other committments.Just the Oz Superannution Funds
committment
may make Oz gavamna bankcruptcy.Current liability is A$130 b
but assets(i am not sure if it is net assets) is $64 b!!
http://www.futurefund.gov.au/
2.Banks dark
holes--in Oz and Singapore
Lehman
Brothers connections------GIC and DBS included
http://www.isda.org/
LIST OF
ADHERING PARTIES FOR 2008 LEHMAN CDS PROTOCOL
I dunt know the differences btw Adhering Parties and
Participating
bidders!Bidders for LB bonds which was held last friday?
Oz banks in the list:
ANZ
CBA
NAB
Singapore:
DBS
GIC
one fren here told me DBS also get very high gearings.He is
right.
We dunt know the consequences when banks gets so much
CDOs, CLOs, ABS ,CDS and so on.Nowadays,we dunt know how
to read the accounts books.The wrose are banks and other
companies
did not put the sales and purchases in the books!
What will happen when and if some or all the hundred of
trillions
dollars of these instrustments be settled?
.....................................
CDS and Aussie banks
A Citibank report from mid-July shows ANZ at the top of the CDS
pile in Australia. It had $45.7 billion worth of CDS in its
conduits.
While all the banks used CDS to hedge their credit risk, ANZ
actively traded them.
In other words, as with its primacy in stock lending (of Opes Prime
fame), it took the greater risks.
As of March, the bank had some $23.4 billion in ``long'' CDS
positions and $22.3 billion in ``short'' CDS positions.
``ANZ entered short CDS positions with counterparties who desired
credit protection whilst simultaneously purchasing offsetting
protection for a cheaper premium from different counterparties (we
understand these counterparties were "monoline" insurers on around
half of all occasions). The spread differential between the short
premium and long premium generated trading income,'' says the
Citibank report.
When one such monoline insurer, ACA, was downgraded from investment
grade to CCC in February 2008, ANZ was forced to recognise a
provision of $226 million based upon a $1.5 billion notional
contract value.
``In effect, they were saying that the long leg of the trade was
not suitable in terms of providing insurance - as the rating of the
insurer was sub-investment grade the hedge was no longer
viable.''
As with other financial stocks now underperforming their peers, ANZ
partied hard in the good times by indulging too much in high-yield
securities. Now it is clear they were not high-yield for
nothing.
Its rivals carry risk but not to the same degree.
CBA has $5.9 billion ($3 billion bought and $2.9 billion sold),
Westpac has $15.6 billion ( $9.4 billion and $6.2 billion) and NAB,
which Citigroup rates second to ANZ on risk has $24.4 billion in
CDS ($13.7 billion and $10.7 billion).
This, of course, is all before we get to CDOs, CLOs, ABS and so
on.
There will be nasties to come, and before the banks come
clean and tell us who their counterparties are, the mystery will
continue to erode confidence.
That said, the Federal Government's guarantee on deposits will
circumvent the ultimate disaster scenario of a retail run on the
banks and, in that, it is to be applauded.
Times are tough, but some look for levity, as one joke doing the
rounds goes:
"This is way worse than a divorce ...I've lost half my net worth
and I still have my wife."
[email protected]
BusinessDay
http://business.theage.com.au/business/time-to-come-clean-20081013-4z8w.html?page=fullpage#contentSwap2
http://www.isda.org/
Advices to
your mom
u shall act as a info collector and feed back to your mom
to keep her hard earn $$.Many are holding $A!
Tell them my info and other info.
Let them decide.Cut loss or buy more to dilute the average
unit cost!!
Gurantee is
just a empty promises
u are welcome to put your facts and figures and opinions
here.Before u say,put advnace some facts and figures.
i dunt like empty words.
Kevin Rudd said his Government would guarantee the estimated
$700 billion that Australians
have deposited in banks, credit unions and building
societies.....
http://www.smh.com.au/news/national/rudd-moves-to-shore-up-700b-in-banks/2008/10/12/1223749845710.html
How much is the Oz banks's debt to
foreign creditors which also under
Oz gavaman gurantee?
OMG.www.rba.
http://www.rba.gov.au/Statistics/AlphaListing/alpha_listing_f.html
H05 Net Foreign Liability
599953
millions A$!! or A$600 billions!!
So, i salute to Oz gavaman so daring to gurantee local banks
deposits
of A$700 billions and 600 billions in NET foreign
liability,amounting
to A$1300 billions!!Oz gavamna just get A$20 b in hands!!
If my figures of 15 b cash in Oz gavamn hands is wrong,i am
sorry
for my mistakes and wrong interpretations.
@@@@@@@@@@@
So,MOD is a lender who wants to lend $7000 and above to Sg
Ty.
Lionnoisy is willing to act as a gurantor,with net assets of $20
only.
Will MOD accept Lionnoisy as a gurantor?
If warren Buffet is the gurantor,then MOD sure will lend the $$
to Sg Ty!!
Sg Ty,pl dunt sue me.I know u are very rich!
Ig Oz PM is so naive to think that possible foreign
creditors,incl GIC and Temasek,
will buy his gurantee,then i am pity for Oz people.
mmmm
