Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 36k
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/smurfyjenkins
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
JPE study: Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 74
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๐Ÿ‘ค︎ u/smurfyjenkins
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Swapping regulations for offshore risk: the full story of how U.S. banks sidestepped Dodd Frank and put the world economy at risk once again

Prof. Greenberger describes in his 2018 paper how Dodd Frank regulations were put in place to protect the global economy from dangerous Swaps trading after 2008 but these rules were sidestepped by U.S banks using an offshore loophole.

The full article can be downloaded for free here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3228783

In this post I will expand on some of the ideas in my post from yesterday and highlight some of the key facts about Swaps regulation avoidance as described in Prof. Greenberger's paper.

https://preview.redd.it/pedg1ttinpj71.png?width=1068&format=png&auto=webp&s=6c87eca431c3bdc53b6a5f04c31d18521d88bc03

This is an overview of the key ideas of the paper.

https://preview.redd.it/jd2iv8fonpj71.png?width=1690&format=png&auto=webp&s=5068f1ca20f75b6fdf8ed8ab50256140d9933d98

Regulatory guidance was put in place in 2013 by the Commodity Futures Trading Commission (CFTC) to clarify that all Swaps transactions by foreign subsidiaries should fall under the regulatory framework set out by Dodd-Frank. This includes increased transparency, as well as clearly defined capital and collateral requirements.

In a key part of the guidance, under a buried 563rd footnote, it was stated that "guaranteed" foreign subsidiaries should fall under the Dodd-Frank regulations. The term "guaranteed" foreign subsidiaries was not considered problematic in any way as all U.S. swaps dealers' foreign subsidiaries had been guaranteed by their corporate parents since 1992. This piece of wording was all that was required to create a monumental loophole.

In complete surprise to the CFTC the swaps dealer trade association privately circulated the suggestion that if it's members "deguaranteed" their foreign subsidiaries then these foreign subsidiaries would be exempt from Dodd-Frank regulation. Loophole established.

In the coming months and years there was a substantial shift in the U.S. swaps trading from large U.S. bank holding companies swaps dealers to newly deguaranteed "foreign" subsidiaries. And with that, regulations were out the window and the pre-2008 swaps game was back on at the casino.

http

... keep reading on reddit โžก

๐Ÿ‘︎ 15k
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๐Ÿ‘ค︎ u/broccaaa
๐Ÿ“…︎ Aug 26 2021
๐Ÿšจ︎ report
S4 Spoiler - Carlos' Offshore Bank Account

During my rewatches, every time I get to the episode where Gaby is upset at Carlos for having embezzled money from Tanaka ($10M in an offshore bank account)...I'm confused. She acts like she didn't know he embezzled that $10M, but didn't she learn about it in S1? She found the papers with his passport (after Carlos instructed her to burn the papers - which she apparently never did). She used this as leverage to not sign the post-nup he was forcing her to sign. He then moved the money so she couldn't dangle that above his head anymore.

Has this been explored before? Or is this just another oversight/continuity on the writers' part?

๐Ÿ‘︎ 12
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๐Ÿ‘ค︎ u/Jaded-Company3450
๐Ÿ“…︎ Jan 23 2022
๐Ÿšจ︎ report
What a coincidence that there are zero US politicians included in the "Pandora Papers" list of offshore bank accounts genhochiminh.quora.com/Whโ€ฆ
๐Ÿ‘︎ 1k
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๐Ÿ‘ค︎ u/hoangphan98765
๐Ÿ“…︎ Oct 04 2021
๐Ÿšจ︎ report
Pudge asked for a pretentious palace ๐Ÿ™„ so he got a private island and a literal offshore bank ๐Ÿคฃ
๐Ÿ‘︎ 876
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๐Ÿ‘ค︎ u/puzzzledbeluga
๐Ÿ“…︎ Nov 18 2021
๐Ÿšจ︎ report
I figured out the missing puts located in Brazil from Bloomberg Terminal-Assets and Liabilities of Commercial Banks in the United States - H.8 due today-they needed to hide the losses offshore to not be shown in the report-I DEMAND we take action against this

https://www.federalreserve.gov/releases/h8/current/default.htm

Banks need money to work. An asset means +money, a liability means -money. Assets minus liabilities gets you net money. So if I have $5, I have $5 in assets. If I owe you $3, I have $3 in liabilities. $5 -$3 means I have a net of $2. Why this matters is if that net (row 41, labeled here as "Residual (Assets LESS Liabilities) ") is too low, the banks can be unstable. In the event of a market crash, if they hold a lot of their assets in stocks, they can go net negative and the bank has to close. If a bank has to close, that can trigger other banks to close and everything goes to shit real fast.

This is liabilities vs time, the bigger the slope upwards, the worse it is.

https://preview.redd.it/wm1jddw17fe71.png?width=592&format=png&auto=webp&s=ec227f7abf4b68d91f4db710cf0182ae81676bad

This is liabilities/assets, if it is going up, this means the bank is doing bad, not making as much money. For the back half of July, it only went slightly upward, a steep curve in this would have put fear in the markets.

https://preview.redd.it/fxnq2zh67fe71.png?width=587&format=png&auto=webp&s=6a5691210afa71babb25d686a9d6dc55b187dd6c

Assets and Liabilities of Commercial Banks in the United States - H.8 due today at 4:15 PM. Earlier this week we discovered puts that mysteriously showed up in a Bloomberg Terminal screenshot, then disappeared the next day.

Had these losses been kept in a secured financial institution within the United States, they would have needed to be declared in the report. This would have shown a massive loss for whatever institution was holding and would have been seen as a major liability for possibly multiple banks loaning out the credit to HF's.

CONSTANCIA INVESTMENT #1 HOLDER ON SCREENSHOT

https://constanciainvest.com.br/en/

A BANK NOT CONNECTED TO ANY U.S. FINANCIAL HOLDINGS.

KAPITALO INVESTMENT #2 HOLDER ON SCREENSHOT

https://www.kapitalo.com.br/

A BANK NOT CONNECTED TO ANY U.S. FINANCIAL HOLDINGS.

https://preview.redd.it/odytpb1i3fe71.png?width=2880&format=png&auto=webp&s=6952efd97b25414f6dac0e415706b987e550b99b

These losses were moved to a bank in Brazil to not be exposed for the general public to see. They can then keep the losses in the bank in Brazil

... keep reading on reddit โžก

๐Ÿ‘︎ 9k
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/TimTheToolManTayl0r
๐Ÿ“…︎ Jul 30 2021
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 25
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/zailpzdamn
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 14
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๐Ÿ‘ค︎ u/journeyman28
๐Ÿ“…︎ Jan 08 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 27
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/The_Ebb_and_Flow
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Offshore bank account with VISA/Mastercard

Hey good people, I usually get my USD earnings via a wire transfer to my PFC account. Unfortunately I am now forced to convert these at really bad exchange rates.

Are you aware of any offshore banking options (with remote account openings) or digital wallets/neo banking that I could store my earnings in. Ideally one that gives out a VISA or Mastercard debit card to Sri Lanka. I have tried Wise and they do not even let you open a USD account anymore

๐Ÿ‘︎ 6
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๐Ÿ‘ค︎ u/AnyGrocery5754
๐Ÿ“…︎ Dec 29 2021
๐Ÿšจ︎ report
Offshore 'mastermind' ran $300M 'shadow bank' for clients' tax-haven money, draft CRA report says - Facing U.S. criminal charges, Fred Sharp also trying to fend off Canadian tax auditors cbc.ca/news/canada/britisโ€ฆ
๐Ÿ‘︎ 160
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๐Ÿ‘ค︎ u/sirharryflashman
๐Ÿ“…︎ Nov 16 2021
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 18
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๐Ÿ‘ค︎ u/johnthenetworkguy
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
A proud part of our heritage: Canadian banks providing multi-million dollar mortgages to "students", with down payments coming from sketchy offshore entities twitter.com/benrabidoux/sโ€ฆ
๐Ÿ‘︎ 375
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๐Ÿ‘ค︎ u/Coaster217
๐Ÿ“…︎ Oct 29 2021
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 8
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๐Ÿ‘ค︎ u/Falcon007_rb
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts | Journal of Political Economy journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 13
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๐Ÿ‘ค︎ u/loimprevisto
๐Ÿ“…︎ Jan 08 2022
๐Ÿšจ︎ report
Chinese banks' offshore debt shows impact of Evergrande crisis - Nikkei Asia asia.nikkei.com/Business/โ€ฆ
๐Ÿ‘︎ 5
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๐Ÿ‘ค︎ u/ICEGOD69
๐Ÿ“…︎ Jan 20 2022
๐Ÿšจ︎ report
Chinese banks' offshore debt shows impact of Evergrande crisis๏ผš Biggest drop in short-term borrowing since March 2016 reveals cash crunch asia.nikkei.com/Business/โ€ฆ
๐Ÿ‘︎ 3
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๐Ÿ‘ค︎ u/SE_to_NW
๐Ÿ“…︎ Jan 20 2022
๐Ÿšจ︎ report
JPE study: Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 13
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/smurfyjenkins
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 13
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/worldnewsbot
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 17
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๐Ÿ‘ค︎ u/Grouchy_Energy_1394
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
USA Office of the Comptroller of Currency proves BANKS & OFFSHORE SHELL COMPANIES INCREASED CREDIT DEFAULT SWAPS โฌ†๏ธ over 5,000% ๐Ÿ“ˆ COMBINED in 2021 ! Mortgage Backed Securities up over 3000 % 2021. Does this sound like 2008 to anyone else? youtu.be/EE-p-Ynqnr4
๐Ÿ‘︎ 2k
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๐Ÿ‘ค︎ u/bossblunts
๐Ÿ“…︎ Aug 19 2021
๐Ÿšจ︎ report
[Autofetch] ไธญๅ›ฝไบบๆฐ‘้“ถ่กŒใ€ๅ›ฝๅฎถๅค–ๆฑ‡็ฎก็†ๅฑ€ๅ…ณไบŽๆ”ฏๆŒๆ–ฐๅž‹็ฆปๅฒธๅ›ฝ้™…่ดธๆ˜“ๅ‘ๅฑ•ๆœ‰ๅ…ณ้—ฎ้ข˜็š„้€š็Ÿฅ / Notice of the People's Bank of China and the State Administration of Foreign Exchange on Issues Concerning Supporting the Development of New Offshore International Trade - (zh) law-lib.com/law/law_view.โ€ฆ
๐Ÿ‘︎ 2
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๐Ÿ‘ค︎ u/Jlvdaum
๐Ÿ“…︎ Jan 18 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 2
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๐Ÿ‘ค︎ u/skgody
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 9
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/Budget-Song2618
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 3
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/razznick
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 3
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/Grouchy_Energy_1394
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Foreign aid payments to highly aid-dependent countries coincide with sharp increases in bank deposits to offshore financial centers. Around 7.5% of aid appears to be captured by local elites. journals.uchicago.edu/doiโ€ฆ
๐Ÿ‘︎ 3
๐Ÿ’ฌ︎
๐Ÿ“…︎ Jan 07 2022
๐Ÿšจ︎ report
Activists are looking not to shut down the gas field, but to place revenues in an offshore bank account that the military canโ€™t touch. apnews.com/article/busineโ€ฆ
๐Ÿ‘︎ 12
๐Ÿ’ฌ︎
๐Ÿ“…︎ Dec 15 2021
๐Ÿšจ︎ report
I figured out the missing puts located in Brazil from Bloomberg Terminal-Assets and Liabilities of Commercial Banks in the United States H.8 due today-they needed to hide the losses offshore to not be shown in the report-I suspect the same is happening for Hedge Funds who have shorted $AMC

https://www.federalreserve.gov/releases/h8/current/default.htm

Banks need money to work. An asset means +money, a liability means -money. Assets minus liabilities gets you net money. So if I have $5, I have $5 in assets. If I owe you $3, I have $3 in liabilities. $5 -$3 means I have a net of $2. Why this matters is if that net (row 41, labeled here as "Residual (Assets LESS Liabilities) ") is too low, the banks can be unstable. In the event of a market crash, if they hold a lot of their assets in stocks, they can go net negative and the bank has to close. If a bank has to close, that can trigger other banks to close and everything goes to shit real fast.

This is liabilities vs time, the bigger the slope upwards, the worse it is.

https://preview.redd.it/eih68kuqage71.png?width=592&format=png&auto=webp&s=d1c57a3d267303a6440e8a388a5818400b987017

This is liabilities/assets, if it is going up, this means the bank is doing bad, not making as much money. For the back half of July, it only went slightly upward, a steep curve in this would have put fear in the markets.

https://preview.redd.it/mls0ftptage71.png?width=587&format=png&auto=webp&s=2963a3fc29ceaf8e0c5df6c18714aee7205897c8

Assets and Liabilities of Commercial Banks in the United States - H.8 due today at 4:15 PM. Earlier this week we discovered puts that mysteriously showed up in a Bloomberg Terminal screenshot, then disappeared the next day.

Had these losses been kept in a secured financial institution within the United States, they would have needed to be declared in the report. This would have shown a massive loss for whatever institution was holding and would have been seen as a major liability for possibly multiple banks loaning out the credit to HF's.

CONSTANCIA INVESTMENT #1 HOLDER ON SCREENSHOT

https://constanciainvest.com.br/en/

A BANK NOT CONNECTED TO ANY U.S. FINANCIAL HOLDINGS.

KAPITALO INVESTMENT #2 HOLDER ON SCREENSHOT

https://www.kapitalo.com.br/

A BANK NOT CONNECTED TO ANY U.S. FINANCIAL HOLDINGS.

https://preview.redd.it/d06nnsuuage71.png?width=2880&format=png&auto=webp&s=d092adbff1d3d7f2adb8d32ee4def1faa838451c

These losses were moved to a bank in Brazil to not be exposed for the general public to see. They can then keep the losses in the bank in Brazil

... keep reading on reddit โžก

๐Ÿ‘︎ 6k
๐Ÿ’ฌ︎
๐Ÿ‘ค︎ u/TimTheToolManTayl0r
๐Ÿ“…︎ Jul 31 2021
๐Ÿšจ︎ report

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