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S E X TA - F E I RA , 2 0 D E J U N H O D E 2 0 1 4

Soros pe a canalha bancria na berlinda

Sanguessugado do Informao Incorrecta

A Bolsa-Ponzi. E Soros vende...

Max

Reza Wikipedia:

A bolsa de valores o mercado organizado onde se negociam aes de


capital aberto (pblicas ou privadas) e outros instrumentos financeiros
como Aes e Opes.

Pode ser na forma de uma associao civil sem fins lucrativos, que
mantm o local ou o sistema de negociao eletrnico adequado
realizao de transaes de compra e venda de ttulos e valores
mobilirios, mas, o mais usual hoje em dia e que as Bolsas de Valores
atuem como S/A`s visando lucro atravs de seus servios.

Est claro, no est? Uma sociedade apresenta-se na Bolsa para vender


as suas aces, os investidores compram as aces, a sociedade ganha
dinheiros.
Quem pode comprar aces? Qualquer pessoa ou empresa. A Bolsa um mercado livre.
Livre?
Escreve o Financial Times:

Um grupo de investidores dos bancos centrais tornou-se o principal operador nos mercados accionrios
globais. O relatrio, que ser publicado esta semana noOfficial Monetary and Financial Institutions
Forum (OMFIF) ["Frum Oficial das Instituies Monetrias e Financeiras". ndt], confirma os 29.100.000
milhes de Dlares de investimento no mercado, nas mos de 400 instituies do sector pblico em
162 Pases.

De acordo com as fontes, a Administrao Estatal Chins de Cmbio tornou-se o organismo pblico que
tem o maior valor de Ttulos accionrios do mundo e, provavelmente, a Federal Reserve fica logo atrs.
Stop, parem tudo. "Bancos centrais"? "Administrao Estatal"? Tornam-se os maiores investidores
mundiais na Bolsa? Vamos ver o que isso significa.
Aquelas instituies que injectam grandes volumes de dinheiro nos mercados (Quantitative Easing)
para que este possa voltar a funcionar, so as mesmas instituies que depois lucram com as aces
na Bolsa.
E dado que aquelas instituies (os bancos centrais) so (quase todos) controlados pelos bancos
privados, isso significa que os bancos privados injectam dinheiro nos mercados sob forma
de Quantitatvie Easing para depois lucrar com a Bolsa.

Tudo isso tem um nome: Esquema Ponzi.


O tpico Esquema Ponzi uma sofisticada operao fraudulenta de investimento, do tipo esquema em
pirmide, que envolve o pagamento de rendimentos anormalmente altos (os lucros) aos investidores,
custa do dinheiro pago pelos investidores que chegarem posteriormente, em vez da receita gerada por
qualquer negcio real. O nome do esquema, como explica ainda Wikipedia, refere-se ao criminoso
financeiro talo-americano Carlo Ponzi.
No nosso caso, os rendimentos so mantidos artificialmente elevados (e, de facto, sabemos que a Bolsa
nos ltimos anos foi cada vez mais afastando-se da economia real) com a continua criao de dinheiro,
o que atrai os investidores. Mas quem ganha mais, como vimos, so agora os "bancos centrais", isso ,
os bancos privados.
Acaba o dinheiro? Os bancos privados injectam liquidez no mercado e comea um novo giro de valsa,
no qual sero sempre eles a ganhar.

No entanto, obrigatrio realar uma notcia.


O Wall Street Journal informa que George Soros tem vendido as suas participaes nos bancos e virou-
se para a tecnologia e as minas de ouro minas durante o primeiro trimestre. Soros vendeu as
participaes no Citigroup, JP Morgan e Bank of America.
J no ano passado, Soros tinha vendido Capitol One, SunTrust, e Morgan Stanley.
Soros ...Soros, e ponto final. Provavelmente o "melhor" especulador financeiro dos ltimos anos. No
ser simptico (e no , de todo: um criminoso de fato e gravata), mas sabe o que faz. Se Soros
decidiu afastar-se dos bancos, porque algo se passar no curto e mdio prazo.
Ipse dixit.
Fontes: Zero Hedge, Ticino Live, Wall Street Journal

http://www.marketwatch.com/story/soros-dumped-
banks-bought-tech-gold-miners-in-first-quarter-2014-05-
15
http://www.zerohedge.com/news/2014-06-15/cluster-central-banks-have-secretly-invested-29-
trillion-market

Home

"Cluster Of Central Banks" Have Secretly Invested $29 Trillion In The


Market

Submitted by Tyler Durden on 06/16/2014 07:22 -0400

Another conspiracy "theory" becomes conspiracy "fact" as The FT reports "a cluster of central
banking investors has become major players on world equity markets." The report, to be
published this week by the Official Monetary and Financial Institutions Forum (OMFIF),
confirms $29.1tn in market investments, held by 400 public sector institutions in 162 countries,
which "could potentially contribute to overheated asset prices." Chinas State Administration of Foreign
Exchange has become the worlds largest public sector holder of equities, according to officials, and
we suspect the Fed is close behind (courtesy of more levered positions at Citadel), as the world's banks
try to diversify themselves and "counters the monopoly power of the dollar." Which leaves us
wondering where are the central bank 13Fs?

While most have assumed that this is likely, the recent exuberance in stocks has largely been laid at
the foot of another irrational un-economic actor - the corporate buyback machine. However, as The FT
reports, what we have speculated as fact for many years now (given the death cross of irrationality,
plunging volumes, lack of engagement, and of course dwindling credibility of central planners)... is now
fact...

Central banks around the world, including Chinas, have shifted decisively into investing in
equities as low interest rates have hit their revenues, according to a global study of 400 public sector
institutions.

A cluster of central banking investors has become major players on world equity markets, says a
report to be published this week by the Official Monetary and Financial Institutions Forum (Omfif), a
central bank research and advisory group. The trend could potentially contribute to overheated
asset prices, it warns.

...

The report, seen by the Financial Times, identifies $29.1tn in market investments, including gold,
held by 400 public sector institutions in 162 countries.

...

Chinas State Administration of Foreign Exchange has become the worlds largest public
sector holder of equities, as the report argues is partly strategic because it counters the
monopoly power of the dollar and reflects Beijings global financial ambitions.

...

In Europe, the Swiss and Danish central banks are among those investing in equities. The
Swiss National Bank has an equity quota of about 15 per cent. Omfif quotes Thomas Jordan, SNBs
chairman, as saying: We are now invested in large, mid- and small-cap stocks in developed markets
worldwide. The Danish central banks equity portfolio was worth about $500m at the end of last year.
Read more here

So there it is... conspiracy fact - Central Banks around the world are buying stocks in increasing size.

To summarize, the global equity market is now one massive Ponzi scheme in which the dumb
money are central banks themselves, the same banks who inject the liquidity to begin with.

That would explain this.

That said, good luck with "exiting" the unconventional monetary policy. You'll need it.

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June 15, 2014 6:43 pm

Central banks shift into shares as low rates hit


revenues
By Ralph Atkins in London

Ng Han Guan/AP
The People's Bank of China
Central banks around the world, including Chinas, have shifted decisively into investing in
equities as low interest rates have hit their revenues, according to a global study of 400 public
sector institutions.
A cluster of central banking investors has become major players on world equity markets, says a
report to be published this week by the Official Monetary and Financial Institutions
Forum (Omfif), a central bank research and advisory group. The trend could potentially
contribute to overheated asset prices, it warns.

More

ON THIS STORY
Central banks in depth - FT.com
Financial markets Hurrah before the storm
FT Alphaville Buy stocks, the ECB has your back
Market volatility hits multiyear lows
Markets Insight Crazy equities should be boring as bonds

ON THIS TOPIC
Markets Insight Beware central banks share-buying sprees
Comment The Fed needs a big balance sheet
Paul Tucker Principles and rules
Chris Giles BoEs prudential policy
IN EQUITIES
A tale of two US central bankers
Banks cash in on global listings surge
Wall St hit by Iraq worries and soft data
Bear market is far from imminent

Central banks are traditionally conservative and secretive managers of official reserves. Although
scant details are available of their holdings Omfifs first Global Public Investor survey points out
they have lost revenues in recent years as a result of low interest rates which they slashed in
response to the global financial crisis.
The report, seen by the Financial Times, identifies $29.1tn in market investments, including gold,
held by 400 public sector institutions in 162 countries.
Central banks actions aimed at stimulating economies,including quantitative easing, have
deliberately sought to push investors into riskier assets, and share prices have risen sharply since
2009 leading to fears of stock market corrections if economic growth disappoints.
Chinas State Administration of Foreign Exchange has become the worlds largest public sector
holder of equities, according to officials quoted by Omfif. Safe, which manages $3.9tn, is part of
the Peoples Bank of China. In a new development, it appears that PBoC itself has been directly
buying minority equity stakes in important European companies, Omfif adds.
A chapter in the report on Chinese foreign investment trends argues Safes interest in Europe is
partly strategic because it counters the monopoly power of the dollar and reflects Beijings
global financial ambitions.
In Europe, the Swiss and Danish central banks are among those investing in equities. The Swiss
National Bank has an equity quota of about 15 per cent. Omfif quotes Thomas Jordan, SNBs
chairman, as saying: We are now invested in large, mid- and small-cap stocks in developed
markets worldwide. The Danish central banks equity portfolio was worth about $500m at the end
of last year.
Overall, the Omfif report says global public investors have increased investments in publicly
quoted equities by at least $1tn in recent years without saying from what level, or how the
figure is split between central banks and other public sector investors such as sovereign wealth
funds and pension funds.
Growth in countries official reserves has increased fears about potential risks to global financial
stability. In a contribution to the Omfif report, Ted Truman, a senior fellow at the Peterson
Institute for International Economics, writes: Reforms are urgently needed to enhance the
domestic and international transparency and accountability for this activity in the interests of a
better-functioning world economy.
He adds: Changes, real or rumoured, in the asset or currency composition of foreign exchange
reserves have the potential to destabilise exchange rate and financial markets.
Central banks around the world have foregone between $200bn and $250bn in interest income as
a result of the fall in bond yields in recent years, Omfif calculates, without giving details. This has
been partly offset by reduced payments of interest on the liabilities side of the balance sheets, it
adds.
RELATED TOPICS
Central Banks,
United Kingdom

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