10.71% JPM AND 12.61 GOLDMAN
89. Tier 1 capital ratio (calculated using advanced approaches)
12.08% JPM AND 14.17% GOLDMAN
90 Total capital ratio (calculated using advanced approaches)
13.65% JPM AND 16.33% GOLDMAN
What these Equity and Capital ratios tell us is that the Capital which is represented by collateral belonging to Borrowers is greater than than the level of Equity represented by shareholder capital at risk which would be termed equity at best there is 30% of real stuff at risk as it were with roughly half of the real stuff being actually the security offered up by the borrowers themselves the rest 70% is frsh air in a fiat money system and in a fiat money system based on debt its thin air at interest.
Yanis Varafoukis in his comments published on the EU Bail out states that 1 billion of the 87 billion for the so called Greek bail out will represent investment in the Greek economy proper.
The percentage of Capital ratios stated above does not address the question of what paper instruments count as Collateral for capital formation purposes for instance it takes no account of re hypothecated assets, one suspect there is much more double counting in the system than is health. The best description of this I have ever found is in Samuel Taylor Coleridges published diaries Table Talk. Table Talk.
this from 27th April 1823.
The national debt has, in fact, made more men rich than have a right to be so, or, rather, any ultimate power, in case of a struggle, of actualizing their riches. It is, in effect, like an ordinary, where three hundred tickets have been distributed, but where there is, in truth, room only for one hundred. So long as you can amuse the company with any thing else, or make them come in successively, all is well, and the whole three hundred fancy themselves sure of a dinner; but if any suspicion of a hoax should arise, and they were all to rush into the room at once, there would be two hundred without a potato for their money; and the table would be occupied by the landholders, who live on the spot.
Work without Hope
Turn to fascism, Second World War
Pound came to believe during the 1920s that the cause of the First World War was finance capitalism, which he called “usury“, and that the solution was C.H. Douglas‘s idea of social credit, with fascism as the vehicle for reform; he had met Douglas in The New Age offices and had been impressed by his ideas. He presented a series of lectures on economics, and made contact with politicians in the United States about education, interstate commerce and international affairs. Although Hemingway advised against it, on 30 January 1933 Pound met Mussolini himself. Olga Rudge had played for Mussolini and had told him about Pound; Pound had already sent him a copy of Cantos XXX. During the meeting he tried to present Mussolini with a digest of his economic ideas, but Tytell writes that Mussolini brushed them aside, though he called the Cantos “divertente” (entertaining). The meeting was recorded in Canto 41: “‘Ma questo’ / said the boss, ‘è divertente.'”. Pound told Douglas that he had “never met anyone who seemed to GET my ideas so quickly as the boss.”
A number of Pound’s books were published in the 1930s, including ABC of Economics (1933), ABC of Reading (1934), Social Credit: An Impact (1935), Jefferson and/or Mussolini (1936), and A Guide to Kulchur (1938). In 1936 James Laughlin – who had visited him in Rapallo in 1933 as a 20-year-old student – set up New Directions Publishing, and acted as Pound’s agent, finding publications to accept his work and writing reviews.