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Jedi_Mindset
08-29-2012, 11:26 AM
THE USA IS NOT IN DEBT

Submitted by Heydrich on Tue, 2012-08-28 07:09
I have discussed this in previous posts and comments, but the masses continue to remain brainwashed.
Consider this article titled, “U.S. Government's Foreign Debt Hits Record $5.29 Trillion.”

“The money the U.S. government owes to foreign entities rose to a record $5.2923 trillion in June, according to data released by the U.S. Treasury on 15 Aug 2012. In May 2012, the U.S. Treasury owed $5.2581 trillion to foreign entities. In June the U.S. government borrowed an additional $34.2 billion from foreign entities in order to fund U.S. government operations. The U.S. government’s indebtedness to foreign interests has grown by 72.3 percent during Obama’s term in office. Entities in the People’s Republic of China remain the largest holders of U.S. government debt. Entities in Japan, however, are on track to eclipse the Chinese as the top holders of U.S. government debt.”

Sounds grim, yes? The US government is $5.29 trillion is debt to foreigners, right? The US government is insolvent, and could go broke, right?
Wrong.
It’s all a lie, designed to fool you into believing that the reasons for “austerity” are legitimiate. Austerity means cutting social programs, and withdrawing money from the economy, in order to maintain the depression, so that the One Percent may rule as gods.
When foreigners buy $5.29 trillion in Treasury bills, the foreigners have simply invested that money in the US government.
If you started a corporation, and you raised $5.29 trillion in proceeds from the sale of stock, then you would not be $5.29 trillion in “debt.” Instead, you would say that investors have bought $5.29 trillion in your company’s stock. You have collected $5.29 trillion from them.
With Treasury bills, the government must give the money back to buyers when they demand it (and also give them interest if the bond has matured), but a monetarly sovereign government like America’s can just print the money. Or it can sell Treasury bills to Agent ‘B’, and use the cash proceeds to pay off agent ‘A.”
If you still believe that the US government is in “debt,” then you are still brainwashed into thinking that the US government finances are the same as a private person’s finances.
The truth is that you can go broke, but the US government cannot, since the government can create enough money for any purpose.
The government could simply print money and get it into circulation via government spending, but politicians prefer the current method of raising cash by selling Treasury bills. This helps them maintain the false illusion that the government is “in debt,” which in turn keeps us groveling before the bankers and the politicians. (Actually the process is even simpler, as I will explain below. It is done with accounting entries.)
When the government wants to launch a new imperialist attack, it raises money for war by selling Treasury bills. In this way, private interests invest in war. They also invest in social programs. However, when the masses want social programs, the government says, “Sorry, there’s no money. We are broke.”
People constantly ask, “Why is there endless money for wars, and no money for social programs?” The answer is simple. The government has a printing press. You do not. And the government does what it likes with that printing press.

Let’s look at that article again.
“As of the end of June, the total debt of the US federal government was $15,856,367,214,324.44.”
This is the amount of money that people have invested in the US government. If we falsely call this “debt,” then we think $15,856,367,214,324.44 is scary.
“However, of that debt, $4,812,182,369,712.78 was money the federal government owed to itself (i.e. money the Treasury had borrowed from federal trust funds such as the Social Security Trust Fund, etc.). The Treasury calls this type of debt ‘intra-governmental’ debt.”
There’s that word DEBT again. Notice how even this article admits that $4.8 trillion is money that the government owes to itself. In reality, all of the government’s “debt” is owed to itself. Since the government has raised $15.8 trillion by selling $15.8 trillion in Treasury bills, the government simply moves figures around on its accounting sheet. And if the government owes itself, then how can it be “broke”? If you as an individual owe $15.8 trillion to yourself, then how could you be $15.8 trillion in “debt”? It’s a lie.
“4.8 trillion in debt is held by foreign interests. The remaining $11,044,184,844,611.66 the federal government owed as of the end of June was debt held by the ‘public.’ This is debt in the form of Treasury securities the government is obligated to pay off in cash.”
The government is only “obligated” if Americans who invested $11 trillion in the government (by purchasing $11 trillion in Treasury bills) all want their money back at the same time. This won’t happen, and even if it did happen, the US government would simply create the money to pay it off.
The US government runs on money raised by selling Treasury bills. It does NOT run on tax revenue, which is destroyed upon receipt. That is, the government dissolves tax revenue by moving numbers around on its balance sheet. It’s all part of the scam. There is no need for federal taxes at all, except to maintain the illusion. If federal taxes were reduced to zero for rich and poor alike, it would make no difference to the functioning of the US government. If the FICA tax were reduced to zero, it would make no difference to the solvency of programs like Medicare and Social Security.
Why? Because, unlike you, the federal government has a printing press.
Some people complain that the USA gives billions in “aid” to Israel. Again, this is an illusion. Israel is monetarily sovereign, like the USA, and therefore creates as much money as it likes. When the corporate media says the USA gives “aid” to Israel, you become angry. You think, “Why are my tax dollars funding Israel?” The corporate media wants you to feel this anger, because your blind emotion maintains your brainwashing that finances for individuals are the same as finances for monetarily sovereign governments. It's the same anger you feel when you see that the rich and the corporations pay no taxes. In reality, no one should have to pay federal taxes, but this is concealed by anger about the rich paying no taxes.
Again, this is a lie because those governments have a printing press, while you do not. If YOU could print money in your house, then you would never be “in debt,” -- but you might tell the people who use your money that you are “in debt,” in order to make them grovel before you. When they want more money, you would shut down your printing press, and say, "We must all live within our means. Now start groveling."
This truth is so simple and obvious that it can only be concealed by non-stop lies. Hence the bankers, the politicians, and the corporate media constantly repeat that the USA is “in debt.”
This is not mere semantics. It is not merely an “interpretation,” or a “perspective.” It is an objective fact. The government has a printing press. You do not. Therefore the government can never “go broke,” but you can. The US government can never be crushed by “debt,” but you can. The US government does not have “debts,” but you do.
The more power that people have in society (e.g. bankers), the more their power rests on pure illusions. Deception is the strongest political force on the planet. The banker scam is smoke and mirrors, but it works, because the masses want to believe in fairy tales.
ISRAEL
Since I mentioned Israel, I note again that Israel’s politicians and central bank are now imposing more and more austerity on the Israeli masses.
So much for Jews supposedly being “smart about money.” The average Jew is as stupid and brainwashed as the average Goy.
Because European bankers and politicians are deliberately sustaining a depression in Europe, there has been a corresponding drop in European purchases of Israeli goods. Hence there is less money circulating in the Israeli economy. The result is a borderline depression in Israel.
Therefore Stanley Fischer (head of Israel’s central bank) and Israeli politicians have announced that they will plunge the Israeli economy into a full-blown depression via tax increases (which remove money from the economy), and cutbacks in government spending (which remove even more money from the economy).
Fischer and the Israeli politicians will intentionally create this depression in order to increase the wealth and power gap between themselves and the Israeli masses.
To conceal this scam, Israeli politicians will continue to distract the Israeli (and foreign) masses by continuing to make false threats that Israel is about to go to full-scale war with Iran, and that Hezbollah has millions of missiles aimed at Israeli children. Thus, while US politicians have only used the “war on terror” camouflage since 9-11, Israeli politicians have used it since 1948. (Actually, Jews have used it for centuries, since Jews are “Chosen,” and therefore have always under threat of a holo-hoax.)
The “war on terror” dovetails with the holo-hoax, plus the lie that the USA and Israel are “in debt.” All conceal the tyranny of bankers, politicians, and the One Percent.
Incidentally, rhetoric about the “federal deficit” is also part of the scam. The deficit is the difference between the revenue collected in taxes, and the money the government spends, right? But if the government does not use taxes, then the “deficit” is meaningless.
You and I do not have a printing press. Nor do states and corporations. Therefore you and I can indeed have a deficit between our income and expenses. Not so for the federal government.
So whenever people argue for or against “deficit spending,” they are using a misnomer. Hence they automatically surrender to the bankers and politicians. The debate would be much more rational if we simply discussed “government spending,” but the bankers, politicians, and corporate media always inject the false words “debt” and deficit” into the mix. Hence the masses remain confused and bickering.
Still not convinced? In an online discussion of 14 Aug 2012, AARP President Rob Romasco answered questions about Social Security funding, and accidentally admitted the BIG LIE.
Comment From Guest: “I hear conflicting statements in the media about Social Security running out of money. Is that true?

Rob Romasco: “Social Security receives money from tree main sources: from the payroll tax, from interest earned from bonds that are held in the Trust Funds, and the taxation of benefits.”

Comment From Guest: “Is the FICA tax holiday hurting Social Security?”

Rob Romasco: “No, the FICA tax holiday is in no way hurting the Social Security program. Even though the payroll tax was decreased by 2 percent, money is transferred from the ‘General Fund’ to make up for the lost payroll tax.”
There you have it. To pay for the “lost payroll tax,” money is transferred from the General Fund, meaning the US government simply creates the money.
How? I said the federal government does so by selling Treasury notes, but even this is an illusion.
The General Fund, the Social Security Trust Fund, and all federal funds are accounting fictions. They do not exist in any real form. They are nothing more than numbers on balance sheets, wholly under U.S. government control.
Though dollars may seem real and scarce to you and me, for a monetarily sovereign federal government, dollars are an accounting fiction. They are mere numbers the government manipulates at will. Need a trillion dollars to pay for Social Security? No problem. Credit the General Fund by $1 trillion, and debit the T-security account. Need another trillion to pay for Medicare? No problem. Credit the General Fund, and debit the T-security fund by another trillion. Need more dollars in the T-security account? No problem. Credit the T-security account, and debit other accounts at the Federal Reserve Bank, which keeps all T-security accounts.
Dollars are an accounting fiction, wholly controlled by the government, which can create an infinite number of them, simply by crediting accounts. The government can credit Medicare, Medicaid and Social Security accounts endlessly, just as it can credit all federal agency accounts, endlessly. The government creates money by simply making an electronic accounting entry. It can do this forever, or until no one will accept these created numbers as having any value.
The only way Social Security, or Medicare, or any federal program could run short of dollars is if the US government decides not to credit the program’s accounts. Such a decision would be purely political, i.e. done to further empower the One Percent.
http://www.wakeupfromyourslumber.com...h/usa-not-debt








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MettaWorldPeace
09-07-2012, 02:03 AM
First of all, the government has issued debt (bonds), not stock. The debt pays a rate of return to the holder and does not produce dividends or capital gains. Agreed though, it's not as bad as it seems. The government has the biggest asset any debtor could wish for, the ability to print their own money. But every economist knows that is not a solution in the long run, as a society can only bear so much inflation. And you're wrong to an extent about tax dollars as well. Tax dollars are needed to pay the interest on the debt, which is astronomical. You are right though that tax revenues really do not do any good to the society directly. However, if you look at it from the other angle the tax dollars are really still benefitting the public since it is being used to stay current on the borrowed funds. And lastly, your argument on FICA is a weak. The general fund is just where all unrestricted net assets would be held. The government does not create all of the money in the general fund (though if you consider issuing T-bills creating money then a good portion of it would be created), a lot of those funds would be from taxes as well. FICA taxes are needed, although they alone do not cover the costs of the programs.

I think the four keys to understanding this complex topic are as follows: Economics, Accounting, Logic, & an Open Mind. Moreover, to understand this issue from a technical standpoint one must not understand either accounting or economics. Rather, one must understand both of these things and how they work together.
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Jedi_Mindset
09-07-2012, 05:51 AM
format_quote Originally Posted by MettaWorldPeace
First of all, the government has issued debt (bonds), not stock. The debt pays a rate of return to the holder and does not produce dividends or capital gains. Agreed though, it's not as bad as it seems. The government has the biggest asset any debtor could wish for, the ability to print their own money. But every economist knows that is not a solution in the long run, as a society can only bear so much inflation. And you're wrong to an extent about tax dollars as well. Tax dollars are needed to pay the interest on the debt, which is astronomical. You are right though that tax revenues really do not do any good to the society directly. However, if you look at it from the other angle the tax dollars are really still benefitting the public since it is being used to stay current on the borrowed funds. And lastly, your argument on FICA is a weak. The general fund is just where all unrestricted net assets would be held. The government does not create all of the money in the general fund (though if you consider issuing T-bills creating money then a good portion of it would be created), a lot of those funds would be from taxes as well. FICA taxes are needed, although they alone do not cover the costs of the programs.

I think the four keys to understanding this complex topic are as follows: Economics, Accounting, Logic, & an Open Mind. Moreover, to understand this issue from a technical standpoint one must not understand either accounting or economics. Rather, one must understand both of these things and how they work together.
Keep in mind that i didnt write this article lol, neither said that i agreed or disagreed with it but rather to ''think'' about it. I think its a good subject to talk about the current economic recession.

Yes its a complex topic, a real economic collapse must be in a way that the rich people will feel it also, but they dont. the ones who suffer are the poor and the middle class in this one. the rich run away with all the money. the only way they might feel it are the jobs.
Reply

Scimitar
09-26-2012, 11:11 PM
Monday, February 27, 2012

BANK CEO AND EXECUTIVE RESIGNATION UPDATE 2/27/12

81 RESIGNATIONS FROM WORLD BANKS 2/27/12

(1) 9/01/11 (USA NY) Bank of New York Mellon Chief Resigns in a Shake-UP

http://loanworkout.org/2011/09/bank-...in-a-shake-up/

(2) 09/20/12 (SCOTLAND) SCOTTISH WIDOWS (RETIREMENT INVESTMENT SAVINGS FUND) There could be no Scottish representative on the board of Lloyds Banking Group, owner of Bank of Scotland, in future after it announced the departure of Lord Sandy Leitch, the chairman of Scottish Widows and group deputy chairman.

http://www.heraldscotland.com/mobile...a31e9fca7eeb2a

(3) 9/25/11 (SWITZERLAND) Bank chief resigns over £1.5bn rogue trader crisis

http://www.dailymail.co.uk/news/arti...g-scandal.html

(4) 9/28/11 (SWITZERLAND) SNB Bank Council: Fritz Studer resigns as per end-April 2012

https://docs.google.com/viewer?url=h...0111028.en.pdf

(5) 10/29/11 (CHINA) Resignations Suggest Shift for China’s Banks

http://online.wsj.com/article/SB1000...190522426.html

(6) 11/01/12 (INDIA) More directors of the Beed district bank resign

http://www.thenews.coop/article/more...ct-bank-resign

(7) 11/02/12 (UNITED KINGDOM) Lloyds Banking Group chief executive, António Horta-Osório, is to take leave of absence on health grounds for six to eight weeks, the BBC has reported. (STILL OUT AS OF 2/24/12 – DEFACTO RESIGNATION)

http://www.bankingtimes.co.uk/2011/1...on-sick-leave/

(8) 11/21/11 (JAPAN) UBS’s Japan Investment Banking Chairman Matsui to Resign

http://www.bloomberg.com/news/2011-1...to-resign.html

(9) 11/29/11 (Iran) Iran’s Bank Melli CEO Resigns Over Loan Scam
http://www.dailymotion.com/video/xlc...loan-scam_news

(10) 12/15/11 (UNITED KINGDOM) Senior private banker resigns from Coutts [a very exclusive private bank]

http://www.reuters.com/article/2011/...7NF23S20111215

(11) 12/22/11 (FRANCE) Societe Generale’s Investment Banking Chief Steps Down

http://dealbook.nytimes.com/2011/12/...ef-steps-down/

(12) 12/23/11 (USA VA) Bank feud: Chairman Giles quits VNB with other directors

http://www.readthehook.com/102524/ba...ther-directors

(13) 1/01/12 (NIGERIA) The Board of United Bank for Africa Plc, the pan African financial services Group with presence in 19 countries across Africa, has accepted the resignation of Mr. Victor Osadolor, from the board with effect from January 9, 2012.

http://www.ubagroup.com/mediacentre/newsdetails/343

(14) 1/01/12 (ISRAEL) Israel’s Bank Leumi CEO Maor steps down after 16 years

http://www.reuters.com/article/2012/...8C108220120101





(15) 1/03/12 (USA VA) Suffolk Bancorp president and CEO steps down

http://riverheadlocal.com/local-news...ceo-steps-down

(16) 1/03/12 (UNITED KINGDOM) Departures from Board at Arbuthnot Banking Group: Neil Kirton
Shortly before the market closed at 12.30 p.m. on Friday the company disclosed that Neil Kirton had resigned from the Board the previous day.

http://www.stockmarketwire.com/artic...ing-Group.html

(17) 1/03/12 (UNITED KINGDOM) Departures from Board at Arbuthnot Banking Group: Atholl Turrell
It has today stated that Atholl Turrell has left the Board.

http://www.stockmarketwire.com/artic...ing-Group.html

(18) 1/05/12 (UNITED KINGDOM) Chief executive of Saunderson House [Private Bank] steps down

http://www.ftadviser.com/2012/01/05/...M/article.html

(19)1/09/12 (SWITZERLAND) Switzerland’s central bank chief resigns

http://www.aljazeera.com/news/europe...612935171.html

(20) 1/12/12 (United Kingdom) Lloyds’ head of wholesale quits

http://www.bankingtimes.co.uk/2012/0...olesale-quits/

(21) 1/19/12 (SPAIN) Spanish bank Santander’s Americas chief quits

http://www.expatica.com/es/news/span...ts_202395.html

(22) 1/30/12 (UNITED KINGDOM) Head Of UK Private Bank Steps Down [Butterfield Private Bank]

http://www.wealthbriefing.com/html/a..._Down&id=43933

(23) 1/20/12 (JAPAN) Normura’s head of wholesale banking quits

http://www.euromoney.com/Article/295...ing-quits.html

(24) 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Governor Alan Bollard to Step Down in September

http://www.bloomberg.com/news/2012-0...september.html

(25) 1/21/12 (Greece) Banks’ top negotiator quits Greece, but talks go on

http://www.france24.com/en/20120121-...e-but-talks-go

(26) 2/01/12 (SOUTH AFRICA) ABSA falls as deputy CEO steps down [UK Barclay's Bank Controlledl

http://m.news24.com/fin24/Companies/...-down-20120201

(27) 2/01/12 (UNITED KINGDOM) Truett Tate - Lloyds Bankging Group head of wholesale quits

http://www.bankingtimes.co.uk/2012/0...olesale-quits/

(28) 2/01/12 (UNITED KINGDOM) Tim TOokey - Llyods Banking Group leaving end of February having served as interim group chief executive in addition to group finance director

http://www.bankingtimes.co.uk/2012/0...olesale-quits/

"Mr Tookey, who has been with the group since 2006, will leave at the end of February after preparing the bank’s accounts for 2011. He will not get a pay-off."

http://www.heraldscotland.com/mobile...a31e9fca7eeb2a

(29) 2/02/12 (VENEZUELA) Key Chavez Minister Resigns Amid Banking Corruption Fallout

http://www.laht.com/article.asp?Cate...ticleId=348565

(30) 2/05/12 (USA - NY) Two Top Morgan Stanley Bankers Resign

http://www.stockbroker-fraud.com/law...y-1133774.html

(31) 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits: http://www.livemint.com/2012/02/0616...itabh-Cha.html

(32) 2/7/12 (USA) Bank Of America's Mortgage Business Chief Resigns

http://www.mortgageorb.com/e107_plug...?content.10881

(33) 2/07/12 (INDIA) Falguni Nayar quits Kotak Mahindra Bank

http://articles.economictimes.indiat...anti-ekambaram

(34) 2/07/12 (IRAN) Iran denies central bank resignation rumor (don't believe until its denied?)

http://finance.yahoo.com/news/iran-d...164154294.html

(35) 2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal

http://articles.businessinsider.com/...ces-italian-tv

(36) 2/10/12 (KOREA) Korea Exchange Bank chief steps down

http://english.yonhapnews.co.kr/busi...005100320.HTML

(37) 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO resigns

http://www.business-standard.com/ind...esigns/464259/

(38) 2/13/12 (KUWAIT) Kuwait Central Bank CEO resigns

http://www.washingtonpost.com/busine...OAR_story.html

(39) 2/14/12 (NICARAQUA) Nicaraqua Central Bank Pres Rosales resigns

http://www.bloomberg.com/news/2012-0...-amid-row.html

(40) 2/14/12 (UNITED KINGDOM) Social finance pioneer Hayday steps down from Charity Bank

http://www.socialenterpriselive.com/...n-charity-bank

(41) 2/14/12 (UKRAINE) The National Bank of Ukraine issued a short statement on Thursday announcing the resignation of deputy governor Volodymyr Krotiuk.

http://webcache.googleusercontent.co...&gl=us&strip=1

(42) 2/15/12 (WORLD) World Bank CEO Zoellick resigns

http://business.time.com/2012/02/15/...llick-resigns/

Did the White House tell the World Bank president that he's out?

http://bosco.foreignpolicy.com/posts...t_that_hes_out

(43) 2/15/12 (SLOVENIA) Slovenia TWO largest Banks CEO's (2) resign

http://www.bloomberg.com/news/2012-0...s-resigns.html

(44) 2/15/12 (KENYA) Governor of Kenyan Central Bank to Resign

http://www.centralbanking.com/centra...overnor-resign

(45) 2/16/12 (UNITED KINGDOM) The Financial Services Authority’s (FSA’s) interim managing director, Conduct Business Unit, Margaret Cole, is to step down later this year.
FSA is the regulator of all providers of financial services in the UK; Bank of England retains
responsibility for systemic risk.

http://www.bankingtimes.co.uk/2012/0...-to-step-down/

(46) 2/16/12 (GHANA) Ken Ofori-Atta steps down as Executive Chair of Databank Group

http://business.thinkghana.com/pages...1202/57429.php

(47) 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Quits

http://webcache.googleusercontent.co...&ct=clnk&gl=us

(48) 2/16/12 (AUSTRALIA) Anz Bank CFO Australia resigns

http://www.proformative.com/news/147...-amid-turmoill

(49) 2/16/12 (UNITED KINGDOM) Royal Bank of Scotland Bankers Arrested

http://www.telegraph.co.uk/finance/f...tax-probe.html

(50) 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns

http://www.theaustralian.com.au/busi...-1226272513981

(51) 2/17/12 (USA) Blankfein out as Goldman Sachs CEO by summer

http://finance.fortune.cnn.com/2012/...goldman-sachs/

(52) 2/17/12 (SWITZERLAND) SNB Council President Hansueli Raggenbass To Leave Central Bank

http://online.wsj.com/article/BT-CO-...17-710604.html

(53) 2/18/12 (PAKISTAN) AJK Bank’s executive steps down

http://www.nation.com.pk/pakistan-ne...Latest+News%29

(54) 2/20/12 (RUSSIA) Head of Russian Bank Regulator Steps Down

http://newsley.com/articles/head-of-...ps-down/206711

(55) 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns

http://www.businessweek.com/news/201...n-resigns.html

(56) 2/20/12 (ISRAEL) Bank Leumi le-Israel Ltd. : Mr. Zvi Itskovitch Announces his Decision to Redesign From Bank Leumi

http://www.4-traders.com/BANK-LEUMI-...eumi-14031540/

(57) 2/20/12 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorporation, Inc. and Seneca National Bank

http://investing.businessweek.com/re...capId=25695731

(58) 2/20/12 (USA WA) First Financial Northwest Director Quits in Candy Austerity Push[shades of the movie The Caine Mutiny?] First Financial Northwest Inc., a Renton, Washington-based lender, said director Spencer Schneider resigned after asking the bank to remove pictures of past directors and serve only hard candies at annual meetings.Schneider made the requests at a Feb. 15 board meeting as “symbols of austerity,” and also asked that the bank suspend serving refreshments at the annual shareholders’ meeting, offering just hard candies instead, he said. Schneider, general counsel for shareholder Joseph Stilwell, resigned immediately when the company asked that his requests be placed on the agenda for a board meeting next month, the bank said yesterday.

http://www.businessweek.com/news/201...rity-push.html

(59) 2/21/12 (ARGENTINA) The general manager of the Central Bank of Argentina (BCRA), Benigno Velez, resigned his position today.

http://m24digital.com/en/2012/02/21/...esigned-today/

(60) 2/21/12 (BANGLADESH) Five bank, insurance directors resign

http://www.thefinancialexpress-bd.co...ate=2012-02-21

(61) 2/21/12 (JAPAN) CITIBANK JAPAN: Bakhshi is taking over duties from Brian Mccappin, who the bank said in December would resign after the unit was banned for two weeks from trading tied to the London and Tokyo interbank offered rates.

http://www.bloomberg.com/news/2012-0...ompliance.html

(62) 2/22/12 (USA) Wietschner, Goldman Hedge Fund Advisory Chief, Retires

https://www.finalternatives.com/node/19689

(63) 2/23/12 (SOUTH AFRICA) Richard Gush resigns from Standard Bank

http://mobile.bloomberg.com/news/201...nt-banker-gush

(64) 2/23/12 (SCOTLAND) Royal Bank of Scotland Group has announced that John McFarlane will step down as a Non-executive Director on 31 March 2012, as a regulatory condition of his impending appointment at Aviva.

(65) 2/24/12 (INDIA) Breaking: ICICI Bank GC Pramod Rao resigns, may start up law firm

http://www.legallyindia.com/20120224...rt-up-law-firm

(66) 2/24/12 (HONG KONG) Citigroup Private Bank’s Co-Head of Global Real Estate Resigns
Feb. 24 (Bloomberg) — Kwang Meng Quek, co-head of the global real estate group at Citigroup Inc.’s private banking unit, resigned.

http://www.businessweek.com/news/201...e-resigns.html

(67) 2/24/12 (NEW ZEALAND) FSF Executive Director resigns
After two years leading the Financial Services Federation (“FSF”) executive director, Kirk Hope has resigned to take up the role of chief executive of the New Zealand Bankers? Association.

http://www.voxy.co.nz/business/fsf-e...signs/5/115797

(68) 2/24/12 (USA) Evercore’s Mestre steps down as U.S. banking head
(Reuters) – Eduardo Mestre has stepped down as day-to-day head of Evercore Partners Inc’s U.S. investment banking business, the New York-based company said in a regulatory filing

(69) 2/25/12 (AUSTRALIA AND NEW ZEALAND) Goldman Sachs: Fitz quits
Stephen Fitzgerald has resigned as Australia and New Zealand chairman and advisory director at Goldman Sachs, after 20 years with the bank. His departure comes less than a year after Goldman took full control of its Australian joint venture, formerly known as Goldman Sachs JBWere.

http://www.ifrasia.com/goldman-sachs...001856.article

(70) 2/27/12 (GERMANY) Deutsche Bank Americas chief steps down

http://www.cbsnews.com/8301-505245_1...ef-steps-down/

(71) 2/27/12 (BAHRAIN) Ebrahim Ebrahim quits as CEO of Khaleeji Commercial Bank

http://www.cpifinancial.net/news/pos...ommercial-bank

(72) 2/27/12 (FRANCE) Societe Generale’s Investment Banking Chief Steps Down

http://dealbook.nytimes.com/2011/12/...ef-steps-down/

(73) 2/27/12 (MALAYSIA) Elaf Bank CEO Dr El Jaroudi resigns

http://twentyfoursevennews.com/banki...roudi-resigns/

(74) 2/27/12 (JAPAN) Nomura’s Head Of Wholesale Banking Quits

http://atomiclotusbox.wordpress.com/...banking-quits/

(75) 2/27/12 (INDIA) Falguni Nayar Quits Kotak Mahindra Bank

http://atomiclotusbox.wordpress.com/...mahindra-bank/

(76) 2/27/12 (GERMANY) Equiduct chairman steps down

http://www.efinancialnews.com/story/...dlines-home-TT

(77) 2/27/12 (BAHRAIN) Al Zain steps down as Mumtalakat Holding CEO
The board of directors of Bahrain Mumtalakat Holding Company (Mumtalakat),Bahrain’s Sovereign Wealth Fund, has accepted the resignation of the Chief Executive Officer, Talal Al Zain, following the completion of a four year term as head of the investment arm for non-oil and gas assets of the Kingdom of Bahrain.

http://twentyfoursevennews.com/bahra...t-holding-ceo/

(78) 2/27/12 (IRAN) Iran’s Bank Melli CEO Resigns Over Loan Scam

http://atomiclotusbox.wordpress.com/...ver-loan-scam/

(79) 2/27/12 (INDIA/KASHMIR) AJK Bank’s Executive Steps Down

http://www.monitorkashmir.com/conten...26filter%3Dall

(80) 2/27/12 (UNITED KINGDOM) Moreno to step down at Lloyds Banking Group
Lloyds Banking Group has announced that Glen Moreno, its senior independent director, intends not to seek re-election at the bank’s annual general meeting on 17th May, and will retire from the board on that date.

http://www.bankingtimes.co.uk/2012/0...own-at-lloyds/

(81) 2/28/12 (HONG KONG) Leung `to enjoy life’ as she calls it quits

http://www.thestandard.com.hk/news_d...=20120228&fc=1

All this happened on the 27th of Feb this year....

Scimi
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Scimitar
09-26-2012, 11:12 PM
oop double post
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