Tuesday, November 25, 2008
Monday, November 17, 2008
Timeline Of A Verruca
November 15: The Banking Mafia or
In interviews with the media, express our revulsion at the millionaire aid, paid for with money from our pockets, which will mainly responsible for the financial mess: banks.
On November 15th, young hackers futuristic Barcelona and Madrid we went to the demonstrations in both cities to protest the re-foundation of capitalism.
In interviews with the media, express our revulsion at the millionaire aid, paid for with money from our pockets, which will mainly responsible for the financial mess: banks. 
addition, we distributed thousands of leaflets communication with our condemnation of the "solution" devised by the corrupt politicians:
THE BANKING MAFIA OR WATER.
The corrupt political class that leads us have found the solution to the crisis: helping those who have created it. While the workers endured the downpour, the bankers received millions in state sums, now converted into mere appendages of the international banking Unfortunately for the Europeans.
The "game of the bubble has burst in the noses of the owners of the world, but once again being made to stay afloat at our expense. In addition to suck the blood with their predatory interests, are now receiving huge amounts of money from our government, money that is ours and that politicians are "giving" our tormentors.
Big business and banking crisis of the continent called the minimum reduction of inter benefits, European workers call crisis on a lack of work, increasing prices and reducing of wages, the Europeans talk of crisis when we fail to make ends meet and can guarantee a decent life for our families.
Our leaders, instead of boosting the economy and find solutions to the mess created by the capitalists, believe that the best option is to inject more capital into the banking supranational monsters. Big mistake, but understandable. Since our proverb says: "You can not bite the hand who feeds you." Not content with not bite the hand, the politicians continue to nurture the great capital, repeating past mistakes.
But the farce did not end there. Now, to be important and a touch of "social", those same politicians speak of "nationalization." Lie. Repayable grant loans to banks has nothing to do with nationalizing the banking system. With the measures, the improvement notice only the powerful. The nationalization of the banking, real, would eventually become the usury and financial institutions to socially useful structures. But obviously, that does not fit into the plans of politicians.
It's time to tighten our belts, but also to tighten their fists and fight those who generated the crisis: bankers, businessmen and politicians billionaires professionals. They are the culprits, and are not going to fool with their demagoguery.
NI UN EURO BANK THE MAFIA!
FUCK POLITICIANS!
BANKERS TO THE SHIT!
Friday, November 14, 2008
Waterproof Money Belt
Water HISTORY OF THE CRISIS
ASSETS Cash Money Loans granted
X million
TOTAL LIABILITIES
have lent money to other banks
Capital Reserves
TOTAL X million
The Basel Accords require the Capital of the Bank is not below a certain percentage of assets
. Then, if the Bank is asking for money to other banks and giving
many credits, the percentage of capital on Assets of the Bank's low and does not comply with the Guidelines of the Basel
.
9. You have to invent something new. And that again is called securitization: the Bank of Illinois
"packages" of mortgages-prime and subprime-in packages that are called MBS (Mortgage Backed Securities
, or obligations secured by mortgages). So, where once had 1,000 mortgages
"loose" in the account "Loans granted, now has 10 packs of 100 mortgages
each, in which there is everything good (prime) and bad (subprime)
as the Lord's vineyard.
10. The Bank of Illinois will sell quickly and those 10 packages:
a. Where does the money you get for these packages? Go to Active
the account "Cash Money", increasing, decreasing by the same amount
Account Credits granted ", so that the share Capital / Loans granted
improvement and the Bank Balance meets Basel rules. B.
Who buys these packages and also buy them quickly so that the Bank of Illnois
"clean" their balance immediately? Very good question! The Bank of Illinois
creates subsidiaries, conduits, which are not companies, but
trusts or funds, and therefore are not required to consolidate Balances with the Bank
matrix. That is, suddenly appear on the market two types of entities: i.
The Bank of Illinois, with a clean face
ii. The Chicago Trust Corporation (or the name you put ye
) with the following balance: ACTIVE
11. 3rd. Comment: If any person working in the Savings Bank of San Quirico, from the Chairman
Director of the Office know anything about this, quickly look for another job.
Meanwhile, everyone speaks in Expansion of its international investments, of which you see
do not have the slightest idea.
12. How are they financed the conduits? In other words, where do they get money to buy the Bank of Illinois
packages of mortgages? In several places:
a. Through loans from other banks (4 º Review: The ball is becoming more
large)
b. Engaging the services of investment banks can sell the MBS to
Investment Funds, Venture Capital, Insurance, Financial Holding companies
a family, etc. (5 º Comment: Notice that the danger is approaching us
, not Spain, but our family, as well, encouraged by the
Director of the office of San Quirico, go and put my money in an investment fund)
c. What happens is that to be "financially correct" or MBS conduits were
to be well-qualified rating agencies that give ratings based on the creditworthiness
. These ratings say, "this company in this State, this
organization can lend money without risk," or "beware of these other
because you risk not being paid." D.
I include here what I said the word "Rating" of this dictionary, so to have it all in
the same block:
RATING. Rating of a company or an institution, made by a specialized agency
. In Spain, the lead agency in this field is Fitch Ratings.
The levels are:
AAA, the highest AA
A BBB BB
others, but very bad
Overall:
a bank or large usually has a rating of AA
A Bank or medium a rating of A
e. The rating agencies gave these ratings or were given other names,
more sophisticated, but in the end, say the same thing: They called
:
investment grade MBS representing the prime mortgages, or That is, the less
risk (would the AAA, AA and A)
Mezzanine, the intermediate (I guess maybe the BBB and BB)
Equity to poor, high risk, that is, to subprime, which in this shed, are the protagonists
f. Investment Banks placed easily the best (investment grade) to
conservative investors, and low interest. G.
Other Fund Managers, Venture Capital, etc., more aggressive.
sought, at all costs, higher returns, among other reasons because these gentlemen
earning the year-end bonus depending on the profitability.
h. Problem: How ill sell MBS managers latter without being noticed too
are incurring excessive risk? I.
6 º Review: The plot thickens and, of course, the Savings Bank of San Quirico
still making statements Expansion happy and content, speaking of the
smooth running of the economy and Social Work are doing. J.
Some investment banks were able, from a re-rating agencies (a re-rating
, a word that does not exist, but it serves to understand)
k. The re-rating was invented to raise the rating of the MBS bad, consisting of: i.
Structure it in sections, which are called
trances, ordering, from highest to lowest, the probability of a default, and the commitment to prioritize
paying the least bad. Ie
1. I bought a package of MBS, which I'm told that the three first
MBS are relatively good, the three seconds, very
regular and three others, frankly bad. This means I
package MBS structured in three tranches the
relatively good, very consistent and very bad.
2. I agree that if the tranche will not pay very bad (or
as these gentlemen say, if in the wrong section incur in default), but recovery
some of the very regular and quite tranche of
relatively good, everything will go to pay Mortgages
tranche of relatively good, so that automatically
this tranche may be rated AAA.
3. (7 Comment: The "Comments from IESE
Economic Situation, January 2008, I've got most of what I'm saying
, we call this" financial magic ")
ii. To finish rolling to San Quirico, sorted
these MBS tranches were renamed as CDO (Collateralized Debt Obligations
, collateralized debt obligations), as they could have taken another name
exotic.
iii. Not content with this, the financial wizards created another product
important: CDS (Credit Default Swaps)
In this case, the purchaser, who bought the CDO, assuming a risk of default by the CDO
he bought, gaining more interest. So, bought the CDO
and said, "if it fails, I lose money. If no failure, plus interest payment. "
iv. Following inventions, created another
instrument, the Synthetic CDOs, which have not fully understood, but profitability was
surprisingly high. V.
Moreover, those who bought the CDO Synthetic
could buy very cheap bank loans. The difference between these interests
very cheap and high yields of Synthetic
was extraordinarily profitable operation.
13. Coming here and hoping that ye not lost too much, I remember one thing
it is possible that you've forgotten, given the complexity of the operations described, that
everything is based on the ninjas pay their mortgages and that the
U.S. housing market continues to rise.
14. BUT: a.
In early 2007, U.S. home prices plummeted. B.
Many of the ninjas realized they were paying more than their house is now worth
and decided (or could not) continue to pay their mortgages. C.
Automatically, no one wanted to buy MBS, CDO, CDS, CDO and Synthetic
who already had failed to sell. D.
The entire assembly was sinking and one day, the Director of the Office of San Quirico
a neighbor called to tell him that good, that the money was gone, or, in
the best, had lost 60% of its value. E.
8 º Review: Go now to explain to the resident of San Quirico what the ninjas, the Bank
of Illinois and the Chicago Trust Corporation. You can not be explained by several reasons:
more importantly, because nobody knows where that money. And when I say nobody, I mean NOBODY
. F.
But things go further. Because no one-not-know the crap they have
Banks in the mortgage packages they bought, and as anyone knows,
Banks begin to not trust each other. G.
As they do not trust, when they need money and go to the interbank market, which is
where banks lend money to each other, or lend it or lend it
expensive. The interest to lend money to banks in the Euribor interbank
(Europe Interbank Offered Rate, or Interest rate offered
interbank market in Europe), a rate which, as you see in the word EURIBOR A 3
months of this Dictionary, has gone up (now beginning to fall.)
h. Thus, banks now have no money. Consequences: I.
noncredit ii. They do not give mortgages, so that Astroc,
Income Corporation, Colonial, etc., I start to go terribly wrong. And
shareholders who bought shares in these companies, they see that the contributions of these Societies
are falling sharply.
iii. The 12-month Euribor, which is the benchmark
of mortgages has been rising (see A 12-MONTH EURIBOR Word mark this
Dictionary), which makes the average English, which has a mortgage, start
sweat to pay monthly fees. (He has now begun to
down)
iv. As the banks have no money,
1. Sell \u200b\u200btheir holdings in
2. Sell \u200b\u200btheir buildings
3. Metamos campaigning for money, offering better conditions
v.
As people begin to feel squeezed by the
mortgage payment, unless the Court is English.
vi. As the English Court notices, unless the purchase socks manufacturer
Mataró, not the ninja knew existed.
vii. The sock manufacturer thinks that as
sell less sock, starts to staffing and fire a few.
viii. And this is reflected in the unemployment rate, mainly
Mataró, where people start to buy less in
stores.
15. This is a dictionary of words. What happens is that the word "Crisis 2007-2008 "
is very serious. The title is misleading, considering that the crisis will end in 2008.
Now comes another question: "How long will this last?
16. Well, good question, too. very difficult to answer, for several reasons: a.
Because it is still not know the extent of the problem (the numbers vary from 100,000 to 500,000 million dollars
)
b. Because no one knows who is affected. It is not known if my bank, that of the whole life
, Banco serious and tradition in the area, has a lot of crap on the Assets. The trouble is that
my bank does not know. C.
When, in America, mortgage defaults by ninja go running or
is, banks can sell foreclosed houses for the price it is, something worth
MBS, CDO, CDS and even Synthetic. D.
Meanwhile, no one trusts anyone.
17. 9 º Review:
a. Someone has described this as "big scam"
b. Others have said that the Crash of 29, compared to this, is a game of girls in the playground
a nunnery
c. Enough, perhaps many, have been enriched with the bonus that have been growing.
Now, they lose their jobs, but the bonus will be saved somewhere, perhaps in a closet
shielded, which may be where more secure and protected from
other financial innovations that can happen to anyone. D.
The financial authorities have a major responsibility for what happened.
Basel Standards, theoretically designed to control the system, have stimulated
SECURITISATION to extremes able to obscure and complicate greatly
markets that are intended to protect. E.
The Boards of Directors of financial institutions involved in this great
fiasco, have a great responsibility, because they have not heard anything. And there
included the Board of Directors of the Savings Bank of San Quirico. F.
Some rating agencies have been incompetent or
independently of its customers, which is very serious
18. End of story (for now): the main central banks (European Central Bank, the U.S. Federal Reserve
) have been injecting cash flow for banks to have money
.
19. Some experts say yes than no money, but what is missing is confidence. That is,
the liquidity crisis is not a real crisis of trust of others.
20. Meanwhile, sovereign funds, or mutual funds created by
States with funds from the surplus in their accounts (mainly from oil and gas
) as Funds Arab Emirates, Asia, Russia, etc., are
buying stakes in U.S. banks important to extract
jam that has penetrated. 
1. For years, the interest rates prevailing in international financial markets have been exceptionally low
.
2. This has meant that banks have seen the business that made them smaller:
a. Gave a low-interest loans B.
Pay something for the customer deposits (zero if the tank is
current account and, moreover, charge maintenance fees, paid "unless something")
c. But nevertheless, the net interest income ("a" minus "b") decreased
3. To someone, then in America, came to the banks had to do two things: a.
Give more risky loans, they might be able to charge more interest
b. Compensate for the low range by increasing the number of operations (1000 x bit is
more than 100 x bit)
4. As for the former (riskier loans) decided: a.
Offer mortgages at a rate of customers, the "ninja" (no income, no job, no assets, that is,
people without steady income, no fixed employment, no properties)
b. Charge more interest, because more risk
c. Harnessing the housing boom was in the U.S. market
d. Moreover, full of enthusiasm, decided to grant mortgage loans
worth more than the value of the house that he bought the ninja, because, with the above
property boom, the house, in a few months, worth more than the amount given on loan. E.
This type of mortgage, they were called "subprime mortgages"
i. They are called "prime mortgages"
which they have little risk of default. On a rating scale between 300 and 850 points,
prime mortgages are priced between 850 and 620 points the best the
less good.
ii. They are called "subprime mortgages" have the most
risk of default and are priced between 620 and 300 the least good, the bad
. F.
Moreover, as the U.S. economy was going well, now insolvent debtor could
find work and pay the debt without problems. G.
This approach was well for some years. In those years, the ninja were
paying the mortgage terms and, moreover, as I had
more money given that your house was worth, had bought a car, had made reform at home and
had gone on vacation with the family. This, surely, in installments, with the extra money
they had charged and, in some cases, which were paid in a botched job or
.
2. This has meant that banks have seen the business that made them smaller:
a. Gave a low-interest loans B.
Pay something for the customer deposits (zero if the tank is
current account and, moreover, charge maintenance fees, paid "unless something")
c. But nevertheless, the net interest income ("a" minus "b") decreased
3. To someone, then in America, came to the banks had to do two things: a.
Give more risky loans, they might be able to charge more interest
b. Compensate for the low range by increasing the number of operations (1000 x bit is
more than 100 x bit)
4. As for the former (riskier loans) decided: a.
Offer mortgages at a rate of customers, the "ninja" (no income, no job, no assets, that is,
people without steady income, no fixed employment, no properties)
b. Charge more interest, because more risk
c. Harnessing the housing boom was in the U.S. market
d. Moreover, full of enthusiasm, decided to grant mortgage loans
worth more than the value of the house that he bought the ninja, because, with the above
property boom, the house, in a few months, worth more than the amount given on loan. E.
This type of mortgage, they were called "subprime mortgages"
i. They are called "prime mortgages"
which they have little risk of default. On a rating scale between 300 and 850 points,
prime mortgages are priced between 850 and 620 points the best the
less good.
ii. They are called "subprime mortgages" have the most
risk of default and are priced between 620 and 300 the least good, the bad
. F.
Moreover, as the U.S. economy was going well, now insolvent debtor could
find work and pay the debt without problems. G.
This approach was well for some years. In those years, the ninja were
paying the mortgage terms and, moreover, as I had
more money given that your house was worth, had bought a car, had made reform at home and
had gone on vacation with the family. This, surely, in installments, with the extra money
they had charged and, in some cases, which were paid in a botched job or
they had achieved.
5. 1st. Comment: I think, so far, everything is clear and it is clear that any
person with common sense, although not a financial expert, you may think that if something
fails, the bump may be important.
6. As for the second (increased number of operations):
a. As many banks were giving mortgages, they had the money.
The solution was easy: go to foreign banks to lend them money for something is
because of globalization. Thus, the money that I, this morning, I entered
Central Office Savings Bank of San Quirico Safaja
may be that afternoon in Illinois, because there is a bank which my box
Savings has paid my money to lend it to a ninja. Of course, that of Illinois
not know that the money will come from my people, and I do not know what my money,
deposited in an institution as I would Savings Bank, began to be in a
some risk. Neither does the Director of the Office of my box, who knows, and presumably
that works in a serious institution. Neither does the President of the Savings Bank
, only known to have invested some money of their investors
a major U.S. bank.
7. 2 No comment: globalization has its advantages but also disadvantages, and their
hazards. The people of San Quirico not know they are taking a risk in the U.S. and
when he begins to read that there are subprime mortgages, thinks: "What do these
crazy Americans!"
8. In addition, it appears that there are "Rules Basel, which require banks around the world
have a minimum capital in relation to their assets. To oversimplify, the Balance
Bank of Illinois is:
5. 1st. Comment: I think, so far, everything is clear and it is clear that any
person with common sense, although not a financial expert, you may think that if something
fails, the bump may be important.
6. As for the second (increased number of operations):
a. As many banks were giving mortgages, they had the money.
The solution was easy: go to foreign banks to lend them money for something is
because of globalization. Thus, the money that I, this morning, I entered
Central Office Savings Bank of San Quirico Safaja
may be that afternoon in Illinois, because there is a bank which my box
Savings has paid my money to lend it to a ninja. Of course, that of Illinois
not know that the money will come from my people, and I do not know what my money,
deposited in an institution as I would Savings Bank, began to be in a
some risk. Neither does the Director of the Office of my box, who knows, and presumably
that works in a serious institution. Neither does the President of the Savings Bank
, only known to have invested some money of their investors
a major U.S. bank.
7. 2 No comment: globalization has its advantages but also disadvantages, and their
hazards. The people of San Quirico not know they are taking a risk in the U.S. and
when he begins to read that there are subprime mortgages, thinks: "What do these
crazy Americans!"
8. In addition, it appears that there are "Rules Basel, which require banks around the world
have a minimum capital in relation to their assets. To oversimplify, the Balance
Bank of Illinois is:
ASSETS Cash Money Loans granted
X million
TOTAL LIABILITIES
have lent money to other banks
Capital Reserves
TOTAL X million
The Basel Accords require the Capital of the Bank is not below a certain percentage of assets
. Then, if the Bank is asking for money to other banks and giving
many credits, the percentage of capital on Assets of the Bank's low and does not comply with the Guidelines of the Basel
.
9. You have to invent something new. And that again is called securitization: the Bank of Illinois
"packages" of mortgages-prime and subprime-in packages that are called MBS (Mortgage Backed Securities
, or obligations secured by mortgages). So, where once had 1,000 mortgages
"loose" in the account "Loans granted, now has 10 packs of 100 mortgages
each, in which there is everything good (prime) and bad (subprime)
as the Lord's vineyard.
10. The Bank of Illinois will sell quickly and those 10 packages:
a. Where does the money you get for these packages? Go to Active
the account "Cash Money", increasing, decreasing by the same amount
Account Credits granted ", so that the share Capital / Loans granted
improvement and the Bank Balance meets Basel rules. B.
Who buys these packages and also buy them quickly so that the Bank of Illnois
"clean" their balance immediately? Very good question! The Bank of Illinois
creates subsidiaries, conduits, which are not companies, but
trusts or funds, and therefore are not required to consolidate Balances with the Bank
matrix. That is, suddenly appear on the market two types of entities: i.
The Bank of Illinois, with a clean face
ii. The Chicago Trust Corporation (or the name you put ye
) with the following balance: ACTIVE
The 10 packages of mortgages
LIABILITIES Capital: what you pay for those packages
11. 3rd. Comment: If any person working in the Savings Bank of San Quirico, from the Chairman
Director of the Office know anything about this, quickly look for another job.
Meanwhile, everyone speaks in Expansion of its international investments, of which you see
do not have the slightest idea.
12. How are they financed the conduits? In other words, where do they get money to buy the Bank of Illinois
packages of mortgages? In several places:
a. Through loans from other banks (4 º Review: The ball is becoming more
large)
b. Engaging the services of investment banks can sell the MBS to
Investment Funds, Venture Capital, Insurance, Financial Holding companies
a family, etc. (5 º Comment: Notice that the danger is approaching us
, not Spain, but our family, as well, encouraged by the
Director of the office of San Quirico, go and put my money in an investment fund)
c. What happens is that to be "financially correct" or MBS conduits were
to be well-qualified rating agencies that give ratings based on the creditworthiness
. These ratings say, "this company in this State, this
organization can lend money without risk," or "beware of these other
because you risk not being paid." D.
I include here what I said the word "Rating" of this dictionary, so to have it all in
the same block:
RATING. Rating of a company or an institution, made by a specialized agency
. In Spain, the lead agency in this field is Fitch Ratings.
The levels are:
AAA, the highest AA
A BBB BB
others, but very bad
Overall:
a bank or large usually has a rating of AA
A Bank or medium a rating of A
e. The rating agencies gave these ratings or were given other names,
more sophisticated, but in the end, say the same thing: They called
:
investment grade MBS representing the prime mortgages, or That is, the less
risk (would the AAA, AA and A)
Mezzanine, the intermediate (I guess maybe the BBB and BB)
Equity to poor, high risk, that is, to subprime, which in this shed, are the protagonists
f. Investment Banks placed easily the best (investment grade) to
conservative investors, and low interest. G.
Other Fund Managers, Venture Capital, etc., more aggressive.
sought, at all costs, higher returns, among other reasons because these gentlemen
earning the year-end bonus depending on the profitability.
h. Problem: How ill sell MBS managers latter without being noticed too
are incurring excessive risk? I.
6 º Review: The plot thickens and, of course, the Savings Bank of San Quirico
still making statements Expansion happy and content, speaking of the
smooth running of the economy and Social Work are doing. J.
Some investment banks were able, from a re-rating agencies (a re-rating
, a word that does not exist, but it serves to understand)
k. The re-rating was invented to raise the rating of the MBS bad, consisting of: i.
Structure it in sections, which are called
trances, ordering, from highest to lowest, the probability of a default, and the commitment to prioritize
paying the least bad. Ie
1. I bought a package of MBS, which I'm told that the three first
MBS are relatively good, the three seconds, very
regular and three others, frankly bad. This means I
package MBS structured in three tranches the
relatively good, very consistent and very bad.
2. I agree that if the tranche will not pay very bad (or
as these gentlemen say, if in the wrong section incur in default), but recovery
some of the very regular and quite tranche of
relatively good, everything will go to pay Mortgages
tranche of relatively good, so that automatically
this tranche may be rated AAA.
3. (7 Comment: The "Comments from IESE
Economic Situation, January 2008, I've got most of what I'm saying
, we call this" financial magic ")
ii. To finish rolling to San Quirico, sorted
these MBS tranches were renamed as CDO (Collateralized Debt Obligations
, collateralized debt obligations), as they could have taken another name
exotic.
iii. Not content with this, the financial wizards created another product
important: CDS (Credit Default Swaps)
In this case, the purchaser, who bought the CDO, assuming a risk of default by the CDO
he bought, gaining more interest. So, bought the CDO
and said, "if it fails, I lose money. If no failure, plus interest payment. "
iv. Following inventions, created another
instrument, the Synthetic CDOs, which have not fully understood, but profitability was
surprisingly high. V.
Moreover, those who bought the CDO Synthetic
could buy very cheap bank loans. The difference between these interests
very cheap and high yields of Synthetic
was extraordinarily profitable operation.
13. Coming here and hoping that ye not lost too much, I remember one thing
it is possible that you've forgotten, given the complexity of the operations described, that
everything is based on the ninjas pay their mortgages and that the
U.S. housing market continues to rise.
14. BUT: a.
In early 2007, U.S. home prices plummeted. B.
Many of the ninjas realized they were paying more than their house is now worth
and decided (or could not) continue to pay their mortgages. C.
Automatically, no one wanted to buy MBS, CDO, CDS, CDO and Synthetic
who already had failed to sell. D.
The entire assembly was sinking and one day, the Director of the Office of San Quirico
a neighbor called to tell him that good, that the money was gone, or, in
the best, had lost 60% of its value. E.
8 º Review: Go now to explain to the resident of San Quirico what the ninjas, the Bank
of Illinois and the Chicago Trust Corporation. You can not be explained by several reasons:
more importantly, because nobody knows where that money. And when I say nobody, I mean NOBODY
. F.
But things go further. Because no one-not-know the crap they have
Banks in the mortgage packages they bought, and as anyone knows,
Banks begin to not trust each other. G.
As they do not trust, when they need money and go to the interbank market, which is
where banks lend money to each other, or lend it or lend it
expensive. The interest to lend money to banks in the Euribor interbank
(Europe Interbank Offered Rate, or Interest rate offered
interbank market in Europe), a rate which, as you see in the word EURIBOR A 3
months of this Dictionary, has gone up (now beginning to fall.)
h. Thus, banks now have no money. Consequences: I.
noncredit ii. They do not give mortgages, so that Astroc,
Income Corporation, Colonial, etc., I start to go terribly wrong. And
shareholders who bought shares in these companies, they see that the contributions of these Societies
are falling sharply.
iii. The 12-month Euribor, which is the benchmark
of mortgages has been rising (see A 12-MONTH EURIBOR Word mark this
Dictionary), which makes the average English, which has a mortgage, start
sweat to pay monthly fees. (He has now begun to
down)
iv. As the banks have no money,
1. Sell \u200b\u200btheir holdings in
2. Sell \u200b\u200btheir buildings
3. Metamos campaigning for money, offering better conditions
v.
As people begin to feel squeezed by the
mortgage payment, unless the Court is English.
vi. As the English Court notices, unless the purchase socks manufacturer
Mataró, not the ninja knew existed.
vii. The sock manufacturer thinks that as
sell less sock, starts to staffing and fire a few.
viii. And this is reflected in the unemployment rate, mainly
Mataró, where people start to buy less in
stores.
15. This is a dictionary of words. What happens is that the word "Crisis 2007-2008 "
is very serious. The title is misleading, considering that the crisis will end in 2008.
Now comes another question: "How long will this last?
16. Well, good question, too. very difficult to answer, for several reasons: a.
Because it is still not know the extent of the problem (the numbers vary from 100,000 to 500,000 million dollars
)
b. Because no one knows who is affected. It is not known if my bank, that of the whole life
, Banco serious and tradition in the area, has a lot of crap on the Assets. The trouble is that
my bank does not know. C.
When, in America, mortgage defaults by ninja go running or
is, banks can sell foreclosed houses for the price it is, something worth
MBS, CDO, CDS and even Synthetic. D.
Meanwhile, no one trusts anyone.
17. 9 º Review:
a. Someone has described this as "big scam"
b. Others have said that the Crash of 29, compared to this, is a game of girls in the playground
a nunnery
c. Enough, perhaps many, have been enriched with the bonus that have been growing.
Now, they lose their jobs, but the bonus will be saved somewhere, perhaps in a closet
shielded, which may be where more secure and protected from
other financial innovations that can happen to anyone. D.
The financial authorities have a major responsibility for what happened.
Basel Standards, theoretically designed to control the system, have stimulated
SECURITISATION to extremes able to obscure and complicate greatly
markets that are intended to protect. E.
The Boards of Directors of financial institutions involved in this great
fiasco, have a great responsibility, because they have not heard anything. And there
included the Board of Directors of the Savings Bank of San Quirico. F.
Some rating agencies have been incompetent or
independently of its customers, which is very serious
18. End of story (for now): the main central banks (European Central Bank, the U.S. Federal Reserve
) have been injecting cash flow for banks to have money
.
19. Some experts say yes than no money, but what is missing is confidence. That is,
the liquidity crisis is not a real crisis of trust of others.
20. Meanwhile, sovereign funds, or mutual funds created by
States with funds from the surplus in their accounts (mainly from oil and gas
) as Funds Arab Emirates, Asia, Russia, etc., are
buying stakes in U.S. banks important to extract
jam that has penetrated.
Free Brain Games Poptropica
But ... About Us
From Madrid and Barcelona
From Madrid and Barcelona two youth groups have been given the status report
real CRISIS and helplessness population suffers.
Beyond Flags and land, our emblem has become
rag pirate sea and our land of the complaint.
BATTERED is how we feel by a professional political class that seeks the benefit of their financiers, banks, multinationals, private interests.
DECEIVED is how we all live in the First World, in a world that was happy until greed broke the sack, and never better.
We can not do much:
have no party, no deputies, no money, or powers.
What we can do is pay our desire,
our originality, our selfless vocation
and our rags, megaphones and banners
so that we see and hear, in the name all
which survived without experiencing this CRISIS caused by
lustful capitalism and consented by the professional political cals.
OR BANKS, OR SPECULATION,
NI POLITICAL PROFESSIONAL:
CRISIS THAT THEY PAY!
Signature:
Futur-Pirates Committee (Madrid-BCN)
Thursday, June 26, 2008
Why Are Some Pregnancy Test Expensive Than Others
The fiscal costs of investments in real estate transactions
1. Fiscal costs associated with the acquisition of property
Our legislation, although it does contain some provisions to encourage investment by foreigners, the species does not provide exemptions or tax incentives to encourage the purchase or possession of property such as houses or apartments .
Value Added Tax
The first sale of new buildings and brand new buildings or significantly refurbished recycled by the companies that promote or construction is achieved by Value Added Tax at the rate of 10% applicable on the sale price. Are not reached by the subsequent tax sales that are made on the same property.
the taxpayer of this tax is not abroad but the vendor, who should check in, retain and turn over the tax to the Treasury. Nevertheless, the tax being included in the price of the property is abroad, "resident" or "nonresident" who ultimately will bear the fiscal costs as the result of not having "sales tax" that be discounted, thus neutralizing the amount.
The acquisition of a property transaction, therefore, in regard to VAT, have effect only in an indirect tax on foreign acquirer.
Property Transfer Tax
The operation of the transfer of property, rights of usufruct, use and habitation, and the promise of sale and assignments of promises are hit by the tax on transfers of assets the rate of 4%.
The tax is levied on the rateable value of property as of the date of the transaction and must be paid equally by both the foreign buyer is resident or not (2%) and the seller (2%).
case of property constructed or under construction, the value on which the tax is to be determined for that purpose by the General Directorate of Cadastre written application by the builder or buyer.
The silence of the authorities regarding the application of appraisal will determine the tax payable on the corresponding share of the real value of the property Seat existing or future buildings. The difference is reassessments at the time of the final deed of sale.
2. TENURE fiscal costs of real estate by foreign individuals
Tax Incidence
Heritage
tenure estate by foreign natural persons, residents or nonresidents, it is fiscally important to the Inheritance Tax purposes. Recycling is considered "significant" if: a) increases by at least 25% of the meters built and b) increase the property value by 50%. VAT, in this case, is applied to the difference between the sale price and acquisition cost.
The fact that the purchaser of property is not VAT taxpayer does not relieve the seller from the obligation to check it.
tax rates vary in the case of rural property and that in some cases, buyers pay an additional 5% in respect of the Property Transfer Tax. The incidence of this tax, though minor, should be taken into account by the alien not only to the time of acquisition of property but also the subsequent sale, promise of sale or transfer is made from same.
Indeed, this tax is levied on an annual basis, inter alia, the assets located, placed or economically used in Uruguay, regardless of the domicile of their owners and provided their value for tax purposes in excess of U.S. $ 76,000 (seventy-six thousand U.S. dollars).
The tax is calculated at 31 December each year based on rates or infinitely progresionales which vary the rateable value of property.
The legislation provides for a gradual reduction of 0.25% per annum on the rates applicable to properties whose values \u200b\u200bfor tax purposes in excess of U.S. $ 648,001. From 2011, meanwhile, provides a progressive reduction of 0.20% per annum on the fees for properties with values \u200b\u200bexceeding U.S. $ 72,001. Finally, it provides an overall reduction of 0.10% per annum on all rates from 2016.
Tax applies in all cases, the rateable value of property. The determination of the value done "case by case" since many factors influence, namely the age of the property, the constructed area, the location of the blocks, the type of construction, the shape of the lot, the reference values \u200b\u200bfor taxation of land and improvements the authorities have in advance, etc. Cadastral values \u200b\u200bare generally slightly lower than market values, but this mismatch is generally lower in the case of property located in Punta del Este.
If the property is aimed at "home" room "from abroad the property should be valued for the purposes of capital tax by 50% of its value with a minimum of $ 76,000. This means that if the assessed value of the property is $ 450,000 and is also effective for the foreign household, then the applicable rate is 1.9% but 1.4%.
tax rate, if the property is acquired by a legal person or foreign entity, shall in all cases of 1.5% irrespective of the value of the property and is calculated on the higher value between the cost of acquiring land adjusted for inflation and the assessed value.
Consequently, if the taxable value of property purchased in excess of U.S. $ 304,001 could be economically more convenient, for the purposes of this tax, which the holder is a foreign entity and not an individual. Nevertheless, it should be noted that NO can be applied to legal persons outside the 50% deduction for property under "house-room."
Wealth Tax Neutralization of
The fiscal cost is the tenure of a property in Uruguay can be neutralized if the foreign owner himself is married, with no interest to do so, the venue of marriage.
In this case, the taxpayer's tax is not the individual but the family that the person in accordance with their spouse. Under tax law, it determines that the alien only have to pay this tax to the extent that the property tax value exceeds U.S. $ 152,000.
Registration of foreign
the estate tax should be paid directly by the foreign property owner or his representative (natural person or legal resident) since there is no legal designation of a withholding agent for these cases .
For this purpose, the foreigner must register with the tax authorities claiming to be owner of a property in Uruguay, reporting to the Treasury its value, identifying a fiscal home and one formed by registering as a taxpayer the tax in question and obtaining an NIE (Foreigner Identification Number).
3. Fiscal costs associated with LEASE or operation of buildings
The lease or transfer of use and enjoyment of the property acquired will generate revenue or profit at the head of the foreign owners, the effect of tax legislation is subject to the payment of New Income Tax Uruguay.
Indeed, the income tax rests, inter alia, on income or gains that individuals receive as a result of the exploitation of real estate capital, eg. rent or similar income. There
in If tax reliefs or exemptions to encourage such operations on lavish buildings. Nonresident aliens are exempt only in respect of income to obtain, among others, debt securities, sale of shares, exchange differences on foreign currency transfers for amounts less equity and more. Properties
foreign "residents"
Rents and other income paid to the foreign "residents" owners of properties leased or transferred to third parties will be achieved by the income tax to non-residents annual rate of 10.5% to be settled December 31 each year.
Foreigners must pay this tax through withholding must implement the company or entity that manages the property and make the collection of rents.
The property manager shall implement withholding on amounts of rents collected over the retention and pay this amount to the Treasury on the occasion of the payment or credit to the foreign owner.
Obtaining capital income does not, by itself, to foreign natural person is considered a "permanent establishment" for tax purposes and thus not be required to settle or pay the remaining taxes and comply with tax requirements applicable to domestic enterprises. Properties
foreign "residents"
Aliens as Residents who receive income as a result of the lease or transfer of use or enjoyment of their property must pay the income tax of natural persons on such income to an annual rate of 10.5%.
The tax is payable via check to be made by the administrator who manages the property and earn third the price of leases or disposals of use.
The foreign owner is entitled to confer the status of final payment the deduction from the Treasury or request a reassessment in which deducting fees from the property manager, professional fees related to the signing and renewal of contracts and local taxes. Registration
nonbinding
Foreigners, "residents" and "non-resident" shall not be required to register with the Treasury and taxpayers of the Income Tax and Non-Resident Income Tax of Individuals or appoint a representative to this effect as 100% paid via withholding thereof.
4. Tax treatment of gain on subsequent DISPOSITION
The capital gains for foreigners to obtain as a result of any sale or disposition of the promise of property acquired FINEVA will be made by the Income Tax Uruguay, both the Income Tax of Individuals as Income tax for non-residents.
Aliens "residents" and "residents" to the Treasury must pay 12% on account of Income Tax of Individuals and Income Tax for non-residents, respectively.
The tax rate is applied to the profit generated by the operation understood as the difference between the sale price or promise of sale (which shall not be lower than the assessed value) and the current tax cost of property sold or pledged for sale over the Property Transfer Tax charged to the seller.
taxes are withheld and paid to the Treasury in these cases by the clerk or notary involved in the operation.
5. Disadvantages of using a corporate vehicle
Uruguayan foreign
NOT recommend using an Uruguayan corporate vehicle to acquire, possess and then dispose of a local property. This is because:
a) the profits of such companies are subject to Income Tax Activities Business at a rate of 25%, which would be increased foreign tax costs associated with leasing the property and its sale or disposition and
promise
b) dividends or profits that Uruguayan society eventually turn to the shareholder or partner from abroad are subject to payment of a withholding tax or 7%.
The Property Transfer Tax, albeit minor, is a fiscal cost to be considered by the alien, both at the time of purchase and the subsequent sale.
________________________ Dr. Miguel Angel Gallegos
Legal Consultant and Attorney at Law Master
Tax Technical and
Beverly Hills, Punta del Este, Phone: (598) (42) 49 61 78
Montevideo, Phone: (598) (2) 710 18 85
Cell: (598) (99) 26 93 98 E
Email: mykaelg@gmail.com
http://drmiguelgallegos.blogspot.com/ 
1. Fiscal costs associated with the acquisition of property
Our legislation, although it does contain some provisions to encourage investment by foreigners, the species does not provide exemptions or tax incentives to encourage the purchase or possession of property such as houses or apartments .
Value Added Tax
The first sale of new buildings and brand new buildings or significantly refurbished recycled by the companies that promote or construction is achieved by Value Added Tax at the rate of 10% applicable on the sale price. Are not reached by the subsequent tax sales that are made on the same property.
the taxpayer of this tax is not abroad but the vendor, who should check in, retain and turn over the tax to the Treasury. Nevertheless, the tax being included in the price of the property is abroad, "resident" or "nonresident" who ultimately will bear the fiscal costs as the result of not having "sales tax" that be discounted, thus neutralizing the amount.
The acquisition of a property transaction, therefore, in regard to VAT, have effect only in an indirect tax on foreign acquirer.
Property Transfer Tax
The operation of the transfer of property, rights of usufruct, use and habitation, and the promise of sale and assignments of promises are hit by the tax on transfers of assets the rate of 4%.
The tax is levied on the rateable value of property as of the date of the transaction and must be paid equally by both the foreign buyer is resident or not (2%) and the seller (2%).
case of property constructed or under construction, the value on which the tax is to be determined for that purpose by the General Directorate of Cadastre written application by the builder or buyer.
The silence of the authorities regarding the application of appraisal will determine the tax payable on the corresponding share of the real value of the property Seat existing or future buildings. The difference is reassessments at the time of the final deed of sale.
2. TENURE fiscal costs of real estate by foreign individuals
Tax Incidence
Heritage
tenure estate by foreign natural persons, residents or nonresidents, it is fiscally important to the Inheritance Tax purposes. Recycling is considered "significant" if: a) increases by at least 25% of the meters built and b) increase the property value by 50%. VAT, in this case, is applied to the difference between the sale price and acquisition cost.
The fact that the purchaser of property is not VAT taxpayer does not relieve the seller from the obligation to check it.
tax rates vary in the case of rural property and that in some cases, buyers pay an additional 5% in respect of the Property Transfer Tax. The incidence of this tax, though minor, should be taken into account by the alien not only to the time of acquisition of property but also the subsequent sale, promise of sale or transfer is made from same.
Indeed, this tax is levied on an annual basis, inter alia, the assets located, placed or economically used in Uruguay, regardless of the domicile of their owners and provided their value for tax purposes in excess of U.S. $ 76,000 (seventy-six thousand U.S. dollars).
The tax is calculated at 31 December each year based on rates or infinitely progresionales which vary the rateable value of property.
The legislation provides for a gradual reduction of 0.25% per annum on the rates applicable to properties whose values \u200b\u200bfor tax purposes in excess of U.S. $ 648,001. From 2011, meanwhile, provides a progressive reduction of 0.20% per annum on the fees for properties with values \u200b\u200bexceeding U.S. $ 72,001. Finally, it provides an overall reduction of 0.10% per annum on all rates from 2016.
Tax applies in all cases, the rateable value of property. The determination of the value done "case by case" since many factors influence, namely the age of the property, the constructed area, the location of the blocks, the type of construction, the shape of the lot, the reference values \u200b\u200bfor taxation of land and improvements the authorities have in advance, etc. Cadastral values \u200b\u200bare generally slightly lower than market values, but this mismatch is generally lower in the case of property located in Punta del Este.
If the property is aimed at "home" room "from abroad the property should be valued for the purposes of capital tax by 50% of its value with a minimum of $ 76,000. This means that if the assessed value of the property is $ 450,000 and is also effective for the foreign household, then the applicable rate is 1.9% but 1.4%.
tax rate, if the property is acquired by a legal person or foreign entity, shall in all cases of 1.5% irrespective of the value of the property and is calculated on the higher value between the cost of acquiring land adjusted for inflation and the assessed value.
Consequently, if the taxable value of property purchased in excess of U.S. $ 304,001 could be economically more convenient, for the purposes of this tax, which the holder is a foreign entity and not an individual. Nevertheless, it should be noted that NO can be applied to legal persons outside the 50% deduction for property under "house-room."
Wealth Tax Neutralization of
The fiscal cost is the tenure of a property in Uruguay can be neutralized if the foreign owner himself is married, with no interest to do so, the venue of marriage.
In this case, the taxpayer's tax is not the individual but the family that the person in accordance with their spouse. Under tax law, it determines that the alien only have to pay this tax to the extent that the property tax value exceeds U.S. $ 152,000.
Registration of foreign
the estate tax should be paid directly by the foreign property owner or his representative (natural person or legal resident) since there is no legal designation of a withholding agent for these cases .
For this purpose, the foreigner must register with the tax authorities claiming to be owner of a property in Uruguay, reporting to the Treasury its value, identifying a fiscal home and one formed by registering as a taxpayer the tax in question and obtaining an NIE (Foreigner Identification Number).
3. Fiscal costs associated with LEASE or operation of buildings
The lease or transfer of use and enjoyment of the property acquired will generate revenue or profit at the head of the foreign owners, the effect of tax legislation is subject to the payment of New Income Tax Uruguay.
Indeed, the income tax rests, inter alia, on income or gains that individuals receive as a result of the exploitation of real estate capital, eg. rent or similar income. There
in If tax reliefs or exemptions to encourage such operations on lavish buildings. Nonresident aliens are exempt only in respect of income to obtain, among others, debt securities, sale of shares, exchange differences on foreign currency transfers for amounts less equity and more. Properties
foreign "residents"
Rents and other income paid to the foreign "residents" owners of properties leased or transferred to third parties will be achieved by the income tax to non-residents annual rate of 10.5% to be settled December 31 each year.
Foreigners must pay this tax through withholding must implement the company or entity that manages the property and make the collection of rents.
The property manager shall implement withholding on amounts of rents collected over the retention and pay this amount to the Treasury on the occasion of the payment or credit to the foreign owner.
Obtaining capital income does not, by itself, to foreign natural person is considered a "permanent establishment" for tax purposes and thus not be required to settle or pay the remaining taxes and comply with tax requirements applicable to domestic enterprises. Properties
foreign "residents"
Aliens as Residents who receive income as a result of the lease or transfer of use or enjoyment of their property must pay the income tax of natural persons on such income to an annual rate of 10.5%.
The tax is payable via check to be made by the administrator who manages the property and earn third the price of leases or disposals of use.
The foreign owner is entitled to confer the status of final payment the deduction from the Treasury or request a reassessment in which deducting fees from the property manager, professional fees related to the signing and renewal of contracts and local taxes. Registration
nonbinding
Foreigners, "residents" and "non-resident" shall not be required to register with the Treasury and taxpayers of the Income Tax and Non-Resident Income Tax of Individuals or appoint a representative to this effect as 100% paid via withholding thereof.
4. Tax treatment of gain on subsequent DISPOSITION
The capital gains for foreigners to obtain as a result of any sale or disposition of the promise of property acquired FINEVA will be made by the Income Tax Uruguay, both the Income Tax of Individuals as Income tax for non-residents.
Aliens "residents" and "residents" to the Treasury must pay 12% on account of Income Tax of Individuals and Income Tax for non-residents, respectively.
The tax rate is applied to the profit generated by the operation understood as the difference between the sale price or promise of sale (which shall not be lower than the assessed value) and the current tax cost of property sold or pledged for sale over the Property Transfer Tax charged to the seller.
taxes are withheld and paid to the Treasury in these cases by the clerk or notary involved in the operation.
5. Disadvantages of using a corporate vehicle
Uruguayan foreign
NOT recommend using an Uruguayan corporate vehicle to acquire, possess and then dispose of a local property. This is because:
a) the profits of such companies are subject to Income Tax Activities Business at a rate of 25%, which would be increased foreign tax costs associated with leasing the property and its sale or disposition and
promise
b) dividends or profits that Uruguayan society eventually turn to the shareholder or partner from abroad are subject to payment of a withholding tax or 7%.
The Property Transfer Tax, albeit minor, is a fiscal cost to be considered by the alien, both at the time of purchase and the subsequent sale.
________________________ Dr. Miguel Angel Gallegos
Legal Consultant and Attorney at Law Master
Tax Technical and
Beverly Hills, Punta del Este, Phone: (598) (42) 49 61 78
Montevideo, Phone: (598) (2) 710 18 85
Cell: (598) (99) 26 93 98 E
Email: mykaelg@gmail.com
http://drmiguelgallegos.blogspot.com/
Wednesday, June 25, 2008
Work Anniversary Sample Funny
Our proposal for legal services and tax
Firm not only intend to provide legal and tax solutions quickly and effectively but also add value to your company.
limit ourselves to not only provide legal services but we also strive to publicize your business. This allows us to think like entrepreneurs and legal tools that help identify to optimize their performance, increase profit margins and protect their interests.
We were not hide the fact that its main objective is to make your company make money and therefore you do not have time for legal issues. It is for this reason that at all times seek to identify the real interests of the Company, both short and long term, so that our responses and services to meet real needs.
The experience gained through advising international and local companies, financial institutions and insurance companies, hotels, computer, importers, educational institutions, construction companies, forestry, food, chemical, communications and tourism, puts us in a position to provide a comprehensive service covering all practical and legal aspects of your business or operation.
specialization with which we in the tax area and the experience gained in the tax departments of CPA Ferrere Lawyers and Consultants and Auditors allow us to design and propose strategies to achieve a legitimate tax savings.
We are able to detect any current tax contingencies that may affect your company, identify ways to minimize and plan ahead defense against future inspecciones.La constant practice on taxation provides us effective tools to be able to advise on tax reform, anticipate the impact of the same both business and personal level and suggest the implementation of measures to minimize any undesirable effects.
The permanent update to the different areas enables us to anticipate legal developments come to identify in advance the issues that may affect your company, both as corporate tax, commercial, legal and labor in general.
The multiplicity of legal disputes, court and administrative provisions which have involved enables us to identify the critical issues that generate conflicts in contracts between companies and their relations with suppliers and customers and even with the Treasury. This capability allows our firm to prevent legal problems and save your company money.
We are able, finally, to defend his company with the best legal tools both on the occasion of actions Inspect from Treasury, the City Council, the National Directorate of Customs, the Department of Consumer Protection, various ministries, etc. ., as in time of legal disputes with private and public entities.
In short, we know the law and also think like entrepreneurs, which means that our advice should not only legally but also useful business.
___________________ Dr. Miguel Angel Gallegos
Legal and Tax Advisor Master in Law and Tax Technical
Beverly Hills Punta del Este Uruguay
Tel: (598) (42) 49 61 78
Cel: (598 ) (99) 26 93 98
E-mail: mykaelg@gmail.com
Montevideo (02) 710 18 85
limit ourselves to not only provide legal services but we also strive to publicize your business. This allows us to think like entrepreneurs and legal tools that help identify to optimize their performance, increase profit margins and protect their interests.
We were not hide the fact that its main objective is to make your company make money and therefore you do not have time for legal issues. It is for this reason that at all times seek to identify the real interests of the Company, both short and long term, so that our responses and services to meet real needs.
The experience gained through advising international and local companies, financial institutions and insurance companies, hotels, computer, importers, educational institutions, construction companies, forestry, food, chemical, communications and tourism, puts us in a position to provide a comprehensive service covering all practical and legal aspects of your business or operation.
specialization with which we in the tax area and the experience gained in the tax departments of CPA Ferrere Lawyers and Consultants and Auditors allow us to design and propose strategies to achieve a legitimate tax savings.
We are able to detect any current tax contingencies that may affect your company, identify ways to minimize and plan ahead defense against future inspecciones.La constant practice on taxation provides us effective tools to be able to advise on tax reform, anticipate the impact of the same both business and personal level and suggest the implementation of measures to minimize any undesirable effects.
The permanent update to the different areas enables us to anticipate legal developments come to identify in advance the issues that may affect your company, both as corporate tax, commercial, legal and labor in general.
The multiplicity of legal disputes, court and administrative provisions which have involved enables us to identify the critical issues that generate conflicts in contracts between companies and their relations with suppliers and customers and even with the Treasury. This capability allows our firm to prevent legal problems and save your company money.
We are able, finally, to defend his company with the best legal tools both on the occasion of actions Inspect from Treasury, the City Council, the National Directorate of Customs, the Department of Consumer Protection, various ministries, etc. ., as in time of legal disputes with private and public entities.
In short, we know the law and also think like entrepreneurs, which means that our advice should not only legally but also useful business.
___________________ Dr. Miguel Angel Gallegos
Legal and Tax Advisor Master in Law and Tax Technical
Beverly Hills Punta del Este Uruguay
Tel: (598) (42) 49 61 78
Cel: (598 ) (99) 26 93 98
E-mail: mykaelg@gmail.com
Montevideo (02) 710 18 85
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