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John Key's finance credentials

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John Key started out as a money trader but by the time he moved to Merrill Lynch he did something entirely different albeit linked to the forex trade.

John Key had become a specialist in the Bonds and Derivatives trade. After the Bankers trust collapsed in 1995 after the Bank had been found guilty of Derivatives fraud John Key was head hunted by Merrill Lynch to become the global head for forex and the European head for Bonds and Derivatives (according to his own website). Watch this video if you want to know what that means.

According to the interview in the NZ herald of 19 July John Key peddled his toxic junk far and wide.

Next to that he was an upon invitation only advisor to Alan Greenspan and the privately owned Federal Reserve of New York, right at the time the bonds and Derivatives trade started to bubble up and in 1999 he had two years until he left to make a final killing in the totally unregulated rigged Casino that is selling Bonds and Derivatives to unsuspecting pension funds, Governments and Corporations.

In other words while the bankers were fully aware that Bonds and Derivatives were a mixture of good and bad loans, good and bad corporate debt or a stable and unstable bag of currencies they sold the bundles of crap as all tripple A rated and they are letting the chips fall were they may because they pocketed the money and when the music stops i.e. when the underlying assets (House mortgages, Corporate loans, Currencies) usually hyped up with an artificial bubble of easy credit collapses those holding the devalued derivatives (as in deriving their value from underlying real world assets) are the suckers. At Bankers Trust they had a term for how much the could rip of their customers. It was ROF (Rip off Factor)

Not only that, against the money received they started to loan money out again.
At the time Merrill Lynch finally collapsed they had a leveraged themselves 60:1 that is they loaned 60 fictitious dollars against 1 real dollar. Money out of thin air. (And this is while commercial bank are regulated to have no more than a leverage of 10:1 to prevent bank runs.

And now all these banks, pension funds, mortgage lenders and insurers are collapsing (today Merrill Lynch wrote down more than 5.6 billion in toxic debt again today)

You see it’s the speculative (Guesstimates are talking about 1 or 2 quadrillion(1000trillion) of speculative digital “money” sloshing around the worlds financial system) bonds and derivatives trade over the last 21 years that is now imploding and John Key was very much in the centre of it and he may have missed the last 7 years of this fraud fest but make no mistake as early as 2002 Warren Buffet warned already that the Bonds and Derivatives trade was a weapon of mass destruction.

This didn’t start in the last 2 years this is only the end of 21 years of unmitigated Bankers greed and lies and John Key sharked around with the nastiest of them. The “Smiling Assassin” as he was fondly known by his colleagues made his $ 50 mill by systematically selling crap financial products and lying while he did it.

All those mom and pop investors who have lost their savings in the financial investment groups in NZ have lost their money because when the real economy of the US began to contract as people were maxed out on their mortgages and credit cards could no longer afford their luxury lifestyle.

This is when the derivatives business started to come undone. Banks all of a sudden realised that these subprime mortgages , bad corporate debt and collapsing currencies could be anywhere in the financial system and they stopped lending. The financial investment groups in New Zealand could no longer meet their payments and other commitments as a result and bingo all went belly up.

There is no stopping it, no propping up and no amount of fake fiat currency can save this system. It’s dead, the US economy is no more because only 12% of the GDP comes from actual productive jobs. 33% came from the financial industry with its fake financial products and the rest some 55% of the jobs are in the service sector and that sector from Expensive coffee to take, hospitals, fire fighters police, McDonald hamburgers to furniture shops is entirely dependant on excess money people have to spare. No money not honey. the US economy is a dead man walking and that in turn makes our future extremely bleak too.
And the only result of giving money to the banks is that they will hoard that too and it will start a hyperinflation that the rest of us will have to cope with.

Anyway that is what John Key and his banking mates have been up to.

http://aotearoaawiderperspective.wordpress.com/

Comments

Re: John Key's finance credentials

the man is a dork and a wimp!

Re: John Key's finance credentials

The latest developments with my complaint to the SFO and National Police HQ about John Key's failure to declare an interest in his Tranz
Rail shares, at a time it was an 'Item of Business' before the House,and his attempt to squeeze commercially sensitive Tranz Rail information out of Finance Minister Michael Cullen through a complaint to the Ombudsman:

I rang the SFO and Police National HQ on Tuesday 14 October 2008 to find out at what stage was my complaint. In both cases it is still at the 'assessment' stage not the 'investigation' stage.
I was advised that the Police have their 'legal team' looking at it - and I should hear before the end of next week what they intend to do about it.
I was not given a time indication by the SFO - but they are similarly looking carefully at what I have given them.
I have yet to see ONE sentence in the NZ Herald - let alone the
MAN ON THE MOON HEADLINES - that accompanied Winston Peters and the Owen Glenn political donation saga, which raised the issue of politicians and 'pecuniary interest.'

WHY AREN'T THE 'MAINSTREAM' MEDIA REPORTING THIS COMPLAINT AGAINST JOHN KEY?
Don't the public have a right to know?
(Rodney Hide's SFO complaint against NZ First was covered at the 'assessment' stage - which was at the same stage as this complaint
against John Key.)

Winston Peters was never accused of 'misusing public office for private gain' and 'feathering his own nest'.
That is the basis of my allegations against John Key - the man who wants to lead the supposedly 'least corrupt country' in the world
(along with Denmark and Sweden)

The difference between the mainstream media's handling of the complaints about Winston Peters 'pecuniary interest' with the Owen Glenn donation and the John Key 'pecuniary interest' with Tranz Rail shares - could not be more stark.

Why aren't the FACTS being publicly demanded of John Key?
I BELIEVE THAT JOHN KEY MUST PROVIDE THE EVIDENCE OF ALL COMMUNICATIONS BETWEEN JOHN KEY AND HIS SHAREBROKER OVER THE PURCHASE AND SALE OF TRANZRAIL SHARES - SO THE VOTING PUBLIC CAN SEE JUST HOW MUCH HE CAN BE TRUSTED, AND WHETHER OR NOT THEY HAVE BEEN MISLED ON THIS MATTER.

(The SFO, Police, Office of the Auditor-General, Office of the Ombudsman are all 'complaints driven'.)

Whether the SFO or Police (or both) choose to investigate my
complaint, and the outcome - if they do - will provide some indication, in my opinion, as to how deserving is NZ of this status as 'least corrupt country in the world.
http://uncensoredmagazine.co.nz/news/2008/10/08/is-john-key-shonkey-comp...

Re: John Key's finance credentials

That makes him the most experience man for the business, after all politics is not about the truth is it?

Right now in the toss between global network and local survival, places Iceland at the top and NZ at the bottom. The withdrawal of UK investments has left Iceland bankrupt. That leaves the only logical conclusion, invest in local production. That is exactly what John Key has envisioned, for he has been there and know what's going on.

Whether he fluked it or not, he was in the middle of the crossroads and he saw what was happening and knew what to do. It is better than investing on weapons or some other contaminated stock...

Re: John Key's finance credentials

Key would have us investing in weapons simply by sending Kiwi troops to Iraq.
He didn't say much about predicting the current economic meltdown, but I dare say he made good provisions for himself, what's good for a parasite like John Key isn't necessarily what is good for New Zealand.

Re: John Key's finance credentials

Key is a parasite, now he wants to suck out the Super fund so his rich mates can profit.
He doesnt care about NZ he made millions speculating in the Kiwi dollar. He is the meltdown man trying rescue his own skin at our expense.

Re: John Key's finance credentials

Key might be the man for the moment, given that "it takes a thief to catch a thief" (or deal with the effects of grand larceny on a global scale).

Re: John Key's finance credentials

"Key would have us investing in weapons simply by sending Kiwi troops to Iraq."
What about sending Kiwi Party members to Iraq? Instead of focusing on how good Key is at ripping money off working people, what about "John Key's fuckwit credentials"? He has many.

Re: John Key's finance credentials

"What Cooked the World's Economy?"
http://www.truthout.org/013009T

Have a read of this article especially the about how Alan Greenspan was in favour of removing anti-bucketshop regulations and how the removal of these regulations from hedge funds is the cause of the current crisis. Did this successfull battle to remove these protective regulations from the markets happen when Key was advising Greenspan?