Bloggfęrslur mįnašarins, aprķl 2011

#109. Hver er kostnašur rķkissjóšs?

Hvaš er rķkissjóšur aš greiša lįnshęfismatsfyrirtękjunum miklar upphęšir fyrir lįnshęfismat?  Lįnshęfismatsfyrirtękin innheimta nefnilega hįar upphęšir af žeim ašilum sem veriš er aš meta óhįš žvķ hvort sį hinn sami baš um slķkt mat eša ekki.  Reikningurinn kemur samt, og ef hann er ekki greiddur hafa žessi fyrirtęki hótaš og/eša lękkaš lįnshęfismatiš einhliša!  Žetta eru įhrifamestu og verstu svikamyllur sem fyrirfinnast į jaršrķki.


mbl.is „Gleypir ekki viš skrķpaleik“
Tilkynna um óvišeigandi tengingu viš frétt

#108. Borgaši Obama ekki reikninginn?

Lįnshęfisfyrirtękiš Standard & Poor's breytti ķ gęr ķ fyrsta sinn langtķmahorfum fyrir bandarķska rķkiš śr stöšugum ķ neikvęšar.

Ętli Obama hafi ekki borgaš sķšasta reiknking fyrirtękisins fyrir lįnshęfismatsžjónustu?


mbl.is Lękkun S&P į horfum veldur öldugangi į mörkušum
Tilkynna um óvišeigandi tengingu viš frétt

#107. Neyšarréttur Breta nżttur?

Žaš sem elskulegur Darling vķsar til ķ greininni er neyšarréttur stjórnvalda til ašgerša til verndar hagsmunum žjóšarinnar.

En ég held aš Hr. Darling ętti aš minnast žessa dóms įšur en hann tjįir sig um mįlefni Icesave.  Žessar harkalegu verndarašgeršir Breta į grundvelli hryšjuverkalaga eru įstęša žess aš žetta mįl er ķ žessum farvegi sem žaš er!


mbl.is Įtti aš tryggja hagsmuni Breta
Tilkynna um óvišeigandi tengingu viš frétt

#106. The people“s democratic rejection....

Jakobķna Ingunn ólafsdóttir sendi frś Blanksma tölvupóst.  Ég įkvaš aš gera žaš lķka.

 

Dear Ms. Blanksma,

I hope this e-mail finds you well.  It“s more of a read than I anticipated but I hope you (or your assistant) take the time to glance through it, especially the indent text and the bold text which are my highlights if you want to take the short version.

An article in an online version of an Icelandic newspaper, Morgunblašiš, got my attention as it contains a  brief translation of a reply to a query the newspaper sent you.

You are quoted:  "This is a contract that can we not move away from.  Negative outcome of this referendum has no bearing on this Agreement.  I am even more astonished by the chaos in domestic affairs.  It is very unwise politically and economically as well.

Christian Democratic Party views that one way or another, the debt must paid.  If not, we will meet in the courtroom."

The newspaper stated the translation was brief and crude.

The common taxpayer in Iceland is not happy that depositors lost money from the Iceland bank collapse.  It is not fair to these depositors be they Dutch, British or from elsewhere for that matter.  But you have to understand that the common taxpayer can not be expected to be accountable for a private bank collapse.  Anywhere.  That is the nature of the EU law for the depositors guarantee scheme.  The credit institutions are responsible.  The Icelandic depositors guarantee scheme was established the same way as in other European countries.

Here are some facts affecting the general public: 

  • Fuel price is now double, in krona, from October 2008 while salaries have stayed the same and overall housing income dropped over same period.
  • Mortgage in Iceland has increased by 30% since October 2008.
    • And this may be the biggest a surprise to you: Please note that on top of interest rates Iceland is the only country in the world to link mortgage payments to a consumption index, meaning any increase in prices on common consumer goods such as coffee, fuel, sugar, corn, milk, bread, cigarettes and alcohol to name a few, all work together and increase the balance and payment of the mortgage on a monthly basis. E.g. a non-smoking person essentially suffers through his/her mortgage because somebody else wants to smoke! Incredible isn“t it?
  • House values have dropped by 20% since October 2008.
  • A vast portion of households was offered illegal loans by Icelandic credit institutions who linked mortgage capital and payments to foreign currencies. They then bought currencies on currency markets working against their customers interests and deflating the krona. Or introduced Icesave. A big portion of the public fled the established indexed mortgages and car leases described above to try out these new loan options.

Ms. Blanksma, are you aware that early October 2008 British authorities used the UK anti-terrorist act to freeze all assets of Landsbanki, the creator of Icesave, and thereby labeling a country without a military, the republic of Iceland, UK“s ally during WW2, and its public as terrorists? Putting the nation side by side with Al-Qaeda.  (There are maybe 200 automatic rifles total in the whole Icelandic police armory!)  UK supreme Courts have ruled similar proceedings as unlawful, even towards suspected terrorists.  Details can be read here:  http://news.bbc.co.uk/2/hi/uk_news/8482630.stm.  Yet Prime minister Brown and Chancellor of Treasury Darling imposed the same act against an Icelandic private bank, very likely contributing to it“s subsequent collapse and the consequent downturn of Iceland“s economy.  The amount of damage this decision did can probably never be calculated nor confirmed.

Are you aware that these actions by the UK authorities made it impossible for Icelandic companies to transfer payments to foreign suppliers worldwide and foreign customers could not pay Icelandic companies for their services and products?  I am sure you agree this action was in effect a breach of one major pillar of the EU single market; namely the free movement of capital within the EEA.  And if the Brits state that unusual circumstances justified this action, well what can the Icelandic authorities say regarding the depositor“s bailout?  By the way, rumors say that 20 of the richest families in Iceland benefited from 95 percent of the bailout.  Not the general public who is now to be dragged to the gallows by the UK and Dutch authorities. That“s how the Icelandic authorities distributed the domestic bailout!

Are you aware that these actions by the UK authorities were a contributing factor that to last of the big banks, Kaupthing, collapsing?  The freezing order by Mr. Brown and Mr. Darling on Landsbanki caused a "rally" on Kaupthing Singer&Friedlander which was then taken over by UK authorities, putting the last nail in the economies coffin.

Ms. Blanksma, before you judge the people of Iceland I urge to investigate the facts of this matter thoroughly.  I am sure your counterparts here in the Icelandic parliament can assist with facts and dates if needed.  English excerpts from Althingi“s Special Committee investigation can be found here: http://sic.althingi.is/

Finally, if you have reached this far, I urge you to check the capital of the Dutch depositors guarantee scheme to verify it can indeed withstand the collapse of 90% of the Dutch bank system in one week and repay all depositors their deposits claim as you are determined to have Iceland do.  I doubt the scheme can cover 50% of the maximum guarantee of €20.887 for all accounts for such a collapse.

A lot of Dutch depositors would loose their money if this would happen for the Dutch banking system. 

What would you and Mr. de Jager do in such circumstances?

I urge you to look at the big picture before you decide to take actions against the general public of Iceland!

Thank you for your attention.

 

PS: By the way, it is expected that all of Landsbanki“s assets in Euros will cover claims for accounts in Euros.  The uncertainty is towards asset recovery in British pounds, US dollars, Canadian dollars and Swiss francs to pay the UK depositors.

We welcome your visit any time, our krona is cheaper than Bangladeshi Taka so you can make good shopping.

1 Euro=103 BDT

1 Euro=162 ISK (if you buy in Amsterdam it“s around 210 ISK)

 

Best regards,

Erlingur A. Jónsson


mbl.is Hóta aš standa ķ vegi ašildar aš ESB
Tilkynna um óvišeigandi tengingu viš frétt

#105. Einelti ķ bekknum

Viš žurfum ekkert aš vera hissa žegar de Jager segist ętla sękja peninga skattgreišenda sinna. Hann į aš segja žaš og žaš hefšu allir sómakęrir fjįrmįlarįšherrar sagt ķ svona sporum. Žaš er pólitķskt rétt aš berjast fyrir sitt žjóšfélag og sķna kjósendur.

Nema į Ķslandi norręnu velferšarstjórnarinnar. Žar vinna allir, meira segja vinstri flokkarnir, fyrir aušvaldiš. Og um fjįrmagseigendur er slegin skjaldborgin!

Stjórnvöld hvašanęva śr heiminum vinna eingöngu fyrir fjįrmagnseigendur. Bretar og Hollendingar ętla nś aš vinna saman aš nį peningunum af ķslensku rķkisstjórninni. Žetta minnir į gamla nżlendutķmann žegar žessar žjóšir blóšsugu nżlendur sķnar af aušlindum žeirra ķ eigin žįgu. Nema viš erum ekki nżlenda! Og ętlum ekki aš verša žaš!

Tališ viš okkur žegar vitaš er hver skuldin er og viš skulum sjį til hvort viš borgum! En fyrr ekki. Tilskipunin segir aš tryggingasjóšurinn eigi aš vera fjįrmagnašur af lįnastofnunum sjįlfum. Ekki rķkissjóši hvers ašildarrķkis!

Žaš vęri fróšlegt aš heyra svar de Jager ef hann yrši spuršur hvort hollenski innstęšutryggingasjóšurinn stęši undir 100% greišslum til innstęšueigenda ef 90% hollenskra banka fęru ķ žrot į einni og sömu vikunni! Žar af um 30% žeirra vegna žess aš Bretar beittu hryšjuverkalöggjöf sinni į vinažjóš ķ staš žess aš vinna meš stjórnvöldum heimarķkisins til lausnar mįlinu og komast aš hvaš vęri aš gerast! Hverjum myndi hann bjarga?

Og žetta er samfélagiš hverrar sešlabanki hefši "bjargaš" okkur žegar bankahruniš dundi yfir. Žaš segir Össur alla vega og blóšlangar aš komast ķ evrópska bekkinn. Meš 2 piltum (B&H) sem setja litla gaurinn (Ķ) ķ einelti og vilja nś fį skólastjórann (ESB) til aš hjįlpa sér. Dęmalaust rugl!


mbl.is Nišurstašan mikil vonbrigši
Tilkynna um óvišeigandi tengingu viš frétt

#104. Notum eignir lķfeyrissjóšanna ķ žarfir innanlands.

Lķfeyrissjóširnir eiga eignir upp į 473 milljarša ķ śtlöndum.  Žaš er hęgt aš gera margt fyrir žessa peninga, fjįrmögnun žyrlukaupa er eitt, annaš varšskip er annaš svo einblķnt sé aš žarfir LHG.  

Žaš er hins vegar kominn tķmi til aš žessar eignir lķfeyrissjóšanna skili sér heim og vinni fyrir eigendur sķna meš einum eša öšrum hętti hér innanlands. Ég sé ekki tilgang ķ žvķ aš žessar eignir sitji ķ śtlöndum engum til góšs.  Žessa erlenda eign lķfeyrissjóšanna er ekkert annaš en stöšutaka gegn krónunni į tķmum žegar hśn mį ekki viš žvķ!  Žessi auma rķkisstjórn į aš skikka lķfeyrissjóšina til aš koma meš žessa eign heim og vinna ķ hagkerfinu!  Jafnvel ętti aš banna lķfeyrissjóšunum aš fjįrfesta erlendis, alla vega tķmabundiš!


mbl.is Lķfeyrissjóšir kaupi žyrlu
Tilkynna um óvišeigandi tengingu viš frétt

#102. Žetta segir Moody“s um eigiš įlit!

Moody“s getur tekiš upp į žvķ meta ašila einhliša, sendir žeim svo reikning fyrir žjónustu sem aldrei var bešiš um.  Ef sį hinn sami neitar aš borga getur Moody“s lękkaš mat sitt ašilanum til tjóns.

Sķšan firrar Moody“s sig af allri įbyrgš af įliti sķnu:

Moody'sCREDIT RATINGS DO NOT CONSTITUTE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS ARE NOT RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. CREDIT RATINGS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MIS ISSUES ITS CREDIT RATINGS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

"The credit ratings and financial reporting analysis observations, if any, constituting part of the information contained herein are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. No warranty, express or implied, as to the accuracy, timeliness, completeness, merchantability or fitness for any particular purpose of any such rating or other opinion or information is given or made by Moody's in any form or manner whatsoever."

Mannamįl: Lįnshęfismatiš er ašeins įbyrgšarlaust įlit eins ašila.


mbl.is Segir įlit Moody's engu skipta
Tilkynna um óvišeigandi tengingu viš frétt

101. Viš getum losaš gjaldeyrishöftin įn Icesave-samžykktar!

Ég endurbirti hér efnislega hluta śr fęrslu minni frį 29. mars sl.

Aflandskrónur bundnar ķ ķslenskum eignum eru sagšar 465 milljaršar.

Meš žvķ aš nota andvirši erlendra eigna lķfeyrissjóšanna, 473 milljarša, er hęgt aš kaupa upp aflandskrónurnar óžreyjufullu og hleypa žeim śr landi.  Žar meš eru skuldabréf, jöklabréf, reišufé og hvaš žessar eignir nefnast nś allar, aš upphęš 465 milljaršar komnar ķ eigu innlendra ašila, lķfeyrissjóšanna, og žeir eiga samt 8 milljarša afgangs.  Žessar eignir yršu svo notašar til aš fjįrmagna hśsnęšislįnayfirfęrslu upp į 315 milljarša frį bönkunum til lķfeyrissjóšanna meš litlum eša engum tilkostnaši.

Lķfeyrissjóširnir mundu svo innheimta žessar eignir frį lįntakendum į yfirfęrsluverši og fęra höfušstóla lįnanna nišur sem samsvarar bókfęršu virši žeirra, en hanga ekki į kröfuviršinu eins og hundur į fiskroši, nįkvęmlega eins og bankarnir eru aš gera ķ dag.  Žannig fį bankarnir fé til aš lįna fyrirtękjum og almenningur fęr höfušstól sinn nišurfęršan, og žar meš bęši greišslugetu og greišsluvilja į nż.  Rķkissjóšur eša Sešlabanki žyrftu ekki aš afla erlends gjaldeyris til aš losa af gjaldeyrishöftin.  Hjólin fęru aš snśast aftur.

465 - 315=150 milljaršar (+8 milljaršar) eru žį afgangs og viš žį er margt hęgt aš gera!

Lįtum lķfeyrissjóšina koma heim meš peningana okkar okkur til gagns!


mbl.is Vill samžykkja Icesave og losna viš höft
Tilkynna um óvišeigandi tengingu viš frétt

#100. Eru lįnshęfisfyrirtękin svikamylla?

Sķfellt er ķ fréttum fjölmišla klifaš į einkunnum Moody“s, Standard & Poors og Fitch Ratings į lįnshęfi ķslenska rķkisins, og annarra rķkja, sem žessar einkunnir séu heilagur sannleikur.  Mikiš er vald žessara fyrirtękja ef svo er.  En hver eru žessi fyrirtęki og er eitthvaš opinbert eftirlit meš žeim?  Sé žeim flett upp į Wikipedia kemur ķ ljós aš žetta eru bandarķsk fyrirtęki aš uppruna.

Moody“s var stofnaš 1909 af John Moody.  Žaš hefur nś 40% markašshlutdeild į „lįnshęfismarkašnum“, hvaša markašur sem hann nś er.  Hagnašur Moody“s įriš 2010 var 407 milljónir dollara (46,5 milljaršar ķslenskra króna į gengi SĶ).

Standard & Poors rekur sögu sķna allt aftur til 1860 og er žar meš elst žessara 3ja fyrirtękja.  S&P var kept 1966 af McGraw-Hill fyrirtękjasamsteypunni.  Tekjur S&P įriš 2009 var 2,6 milljaršur dollara eša 296 milljaršar ķslenskra króna.

Fitch Ratings er hinsvegar yngst, var stofnaš 1924 og tengdist sķšar Standard & Poors.

Saman voru žau meš um 94% markašshlutdeild įriš 2004.

Sišferši žessara fyrirtękja hefur veriš dregiš ķ efa.  Įriš 2004 kom fram ķ Washington Post aš žessi fyrirtęki eru algjörlega sjįlfala og setja sķnar eigin reglur og ašferšarfręši, sem hefur leitt til misnotkunar.  Moody“s til dęmis kśgaši Compuware, bandarķskan hugbśnašarframleišanda ķ Detroit sem hafši greitt 225.000 dollara fyrir lįnshęfismat frį Moody“s, vegna lįntöku fyrirtękisins upp į 500 milljónir dollara.  Innan viš įri sķšar sendi Moody“s reikning fyrir 5.000 dollara įrgjaldi sem mundi sķšan žrefaldast ef ekki yršu gefin śt skuldabréf žaš įr sem Moody“s žyrfti aš meta.  Fyrirtękiš greiddi žessa 5.000 dollara 2001 og įri sķšar, žrefalda žį upphęš, 15.000 dollara en fékk litla sem enga žjónustu frį Moody“s žaš įr. 

Ķ sömu grein segir frį žżsku tryggingafyrirtęki, Hannover Re, sem neitaši aš gerast įskrifandi aš žjónustu Moody“s, sem hafši bošist til aš meta fyrirtękiš „endurgjaldslaust“.  Hannover Re var žį žegar aš greiša tugmilljónir til annarra matsfyrirtękja fyrir samskonar mat.  Moody“s hóf engu aš sķšur einhliša, og įn ašgangs aš mikilvęgum trśnašargögnum, aš meta lįnshęfi Hannover Re og gaf śt mat sitt reglulega, um leiš og žaš leitaši įfram eftir višskiptum žess.  Meš tķmanum lękkaši žaš lįnshęfi Hannover Re žó svo aš önnur matsfyrirtęki meš samninga viš Hannover Re, S&P og A.M. Best, gęfu žvķ góša einkunn.  Įriš 2003 setti Moody“s skuldabréf  Hannover Re ķ ruslflokk.  Hluthafar fengu skituna og losušu sig viš hlutafé.  Į örfįum klukkustundum lękkaši markašsvirši fyrirtękisins um 175 milljónir dollara.

Standard & Poors hefur hagaš sér eins.  Lķtiš skólaumdęmi ķ Sušvesturrķkjum Bandarķkjanna var komiš ķ fjįrhagsvandręši og hękkaši m.a. gjald fyrir skólamįltķšir.   Žaš hafši keypt žjónustu af Moody“s og S&P vegn lįnshęfismats.  Gjaldiš hjį S&P var hęrra og til aš spara fé var įkvešiš aš hętta meš žaš.  Stuttu seinna hafši S&P samband og heimtaši greišslu upp į 5.000 dollara ella mundi fyrirtękiš draga śtgefiš mat sitt til baka.  Skólaumdęmiš greiddi S&P uppsetta kröfu af ótta viš aš afleišingarnar yršu meiri ef S&P dręgi mat sitt til baka.

Žaš skal aftur tekiš fram hér aš žessi grein sem vitnaš er ķ aš ofan er frį 2004 og er žrišji og sķšasti hluti žriggja greina eftir Alex Klein, en hana mį enn lesa og meira til į vef Washington Post hér.

Gušmundur Įsgeirsson kom meš įgętar tilvitnanir ķ forstjóra žessara fyrirtękja į bloggi sķnu 25.mars sl. sem ég hvet alla til aš lesa.  Ķ stuttu mįli firra forstjórarnir sig og sķn fyrirtęki af allri įbyrgš af notkun į mati žeirra til aš stofna til fjįrskuldbindinga eša fjįrfesta ķ ašilum sem mat beinist aš!  Matiš eru skošanir fyrirtękjanna og ekkert annaš og öll įskilja žau sér rétt til aš draga žaš til baka hvenęr sem er og įn fyrirvara!  Žessu til stušnings bera žeir viš Fyrstu grein bandarķsku stjórnarskrįrinnar sem fjallar um mįlfrelsi fyrir žį sem ekki vita.  Og žar meš bera žeir enga įbyrgš į oršum sķnum.

Engu aš sķšur lepja ķslenskir fréttamenn žetta lįnshęfismat upp frį hverjum žeim sem lętur žeim žaš ķ té gagnrżnislaust.

Er ekki kominn tķmi til aš stoppa žessa vitleysu?


mbl.is Lįnshęfiseinkunnir skipta mįli
Tilkynna um óvišeigandi tengingu viš frétt

Innskrįning

Ath. Vinsamlegast kveikiš į Javascript til aš hefja innskrįningu.

Hafšu samband