Mystery $15'000'000'000'000

Discussion in 'Current Affairs, News and Analysis' started by Proper_Gander, Mar 21, 2012.

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  1. $15,000,000,000,000 ($15 trillion) in fraud exposed in UK House of Lords :: TweakTown USA Edition

    The $15 TRILLION Dollar Money-Laundering Mystery (NYSEArca:XLF, NYSEArca:SKF, NYSEArca:GLD, NYSEArca:SLV, NYSEArca:AGQ, NYSEArca:SPXU) | ETF DAILY NEWS
     
  2. This story is utter tosh. E.g.

    ...according to Lord James, "refused to touch this", alternatively, you put it through an MTN-trading bank, which is then able to use the funds on the overnight European MTN trading market where they have the ability to earn between 1- and 2.5-percent profit, per night.

    The entire outstanding issuance of European MTNs is much less than $15trn. Even a few yards (billions) of purchases and people would notice - you'd either have multiple large corporates issuing blocks to a single client or you'd drive-by the secodary market which would be like setting off a flare in a Magnesium factory...and that's billions not trillions.

    You cannot earn anything like those interest rates overnight. More like 1.5-4.0% ANNUALLY, else 1.5% annualized is 228% return...
     
  3. sorry. should've run a search.

    *hangs head in shame*
     
  4. In the days when schools taught "sums" 1,000,000,000,000 was 1 billion (10¹²) unlike the cheapskate Septics 1,000,000,000 (or 10 to the power of nine)
    ^_~
    No wonder this country is going to pot!