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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (24798)	11/6/2007 1:06:22 AM
From: elmatador	Read Replies (1) \| Respond to of 217546

We have had a slow dripping of news in the past 3 months, but the times is coming for -as my father used to say- "for the onça to drink water". Onça is a Jaguar. whozoo.org The popular phrase means, it is time to make a decision. For when the onça comes to drink water, you've got not to be on the trail leading to the river. telegraph.co.uk

To: TobagoJack who wrote (24798)	11/6/2007 1:16:31 AM
From: elmatador	Respond to of 217546

40% of total profits from only 7% of its assets. I keep track on that for 3 decades. It is not only the IMF and World Bank that gorged in profits before capital spread more evenly and now have no more blood to suck. Citicorp ran out of zebras to suck blood, as the IMF and World Bank did too. Now is onça drinking time. “In 1974 Citibank was earning 40% of its total profits from developing countries, from only 7% of its assets...The poorer the country the higher the profits.” Sampson, A., The Money Lenders, New York, Viking Press, 1981 The Economist, Jan. 7, 1989. “Brazil,s debt repayments helped boost the profits of American banks last year. Citicorp’s fourth-quarter net profits swelled to $747 million with the payment of almost two years’ worth of interest. The Economist, Jan. 21, 1989. At the same time, in 1989: Citicorp was losing money elsewhere: “To survive in leaner times Citicorp is regrouping around its core British securities business, into which it has pumped some $300 million. It has sharply pared its coverage of stocks, dropped out of gilts (British government securities) market, and discovered that it lost money on an astonishing 72% of the institutions it served. BusinessWeek International, Mar. 6, 1988. In 1988 Citicorp’s global securities business lost $50 million in London. Chase Manhattan pulled the plug of its (London) equity operation in the beginning of 1989, taking a $40 million write-off. In the year to September 1988 Citicorp Vickers had a net loss of ¥1.44 billion and Chase Manhattan ¥1.31 billion in their Tokyo operations. Source: The Japan Bond Research Institute, cited in The Economist, Jan. 14, 1990. This means profits from developig countreis and losses from the developed ones. “According to World Bank’s ‘World Debt Tables’ the net transfer of money from the South to the North reached a high of $43 billion for the fifth consecutive year of net transfers from the Third World” South, Feb. 1989. “In its latest report, the World Bank admit to receiving $2.6 billion more in interest rates and principal payments from still developing countries in the year to the end of June 1989 than it disbursed in new loans” The Economist, Sept. 22, 1989. “The multilateral agencies have become net takers of money from Latin America. Commercial banks lent $6 billion of new money to the continent last year. But they extracted more in interest—around $26 billion.” The Economist, Feb. 11, 1989. “America’s interests in the World Bank are often overlooked, its exports to World Bank projects exceeded $1.6 billion in 1987, which is more than the $1.5 billion it has made in direct cash contributions over the institution’s forty-year history. From each dollar the U.S. provides in the general capital increase, the World Bank will be able to lend more than $200. Bretton Woods Committee, Banking Success: The World Bank, The United States and the Developing World, Washington D.C., 1988. Cited from Yochelson, John, (ed.), Keeping the Pace, U.S. Policies and the Global Economy, Center for Strategic Studies,Ballinger Publishing Co., Cambridge, 1988.