Greenspan - That took GUTS. THANKYOU!

[herosrest]

Alan, I call you such, for it is your name, you must fight, fight back for your profession and the right to par 3. Assets were revalued arbitrarily by FAS 157, it cost the world 30%. It's about to happen again - FAS 166&167. The world economy and trade are being destroyed by accountants. This is a truth they will not acknowledge or accept, in fact they repudiate it in false modesty. Silly people, the financially correct have broken the world economy and attacked innovation.

FAS 168 is now installed and anecdoted to the effect that Whether a margin call is involved is not part of the accounting standard itself; it is part of the contracts negotiated between lender and borrower. Economics and accounting speak different language and an accounting margin is very diffent to that of the world of finance. That little conundrum is worth 30% of value. People make mistakes - it is an innate ability paired to our skill to learn from mistakes. GAAP is a destructive straight jacket to hell with no way back. Your theories are not flawed, it was a loss of confidence. The rug was pulled from under and you must regain your feet, sword in hand.

Accounting practice implemented under GAAP is not economic theory or practice but is imposed upon the world. As proscribed GAAP are an attack on value and innovation which has revalued the global asset base by -30% because they are flawed in concept, practice and ethics. The FASB has attacked economics and raped value.

Seminal moments. FAS 157 & the brightest and best among us.
Nov. 2008. Harvard's $37 billion endowment, the largest of any university, declined 30% in value, losing more than $10 billion. Harvard President Drew Faust - Quote “We need to be prepared to absorb unprecedented endowment losses and plan for a period of greater financial constraint.” click
October. 2009. Harvard University last year lost nearly $2 billion in the cash account it uses to pay for daily operations, by investing the money with its endowment fund instead of keeping it in safer, bank-like accounts. The loss, disclosed today in the university's annual financial report, resulted from Harvard financial executives taking the unusual step of placing a large mount of the university's cash with Harvard Management Co., the entity that runs the school's endowment and invests in stocks, hedge funds and other risky assets. On top of the cash losses, the school lost $500 million to get out of an investment called interest-rate swaps that backfired. click

Hang proud, hang tough and fight back. They know not what they did, do or where it is all headed. GAAP sucks (Tens of trillions). If they did and do understand, a huge crime is underway. It is my desire and intent to live free in democracy. That privelage is a freedom l wish extended to all. I have no desire whatever for a masterplan, supermen or the holier than thou. Live and let live, worship your own god and if others kneel at the temple of lucre so be it. I will smile and do my thing.

[herosrest]

Below is how completely screwed up the 'Financially correct' of this planet really are. These organisations will have had various problems and losses and their dream and social circles pine for correct and corrected financial systems that eliminate investment risk. Their investments and funds are probably a good bit more than 30% down. I wonder, wonder, wonder, where and how those funds generated themselves. They may have been begging audiences with B. Madoff until quite recently. Ah so..... It wasn't all Bernie's fault, ya know. He could not go anywhere, without people throwing their money at him and begging for his services. Funny old world.

Investor group says FASB is compromised. - An advisory panel of investors has accused the US accounting standard setter of losing its independence after it succumbed to political pressure over mark-to-market accounting changes in a fiery letter. The group said the Financial Accounting Standards Board should have fought off pressure from politicians and lobbyists who sought special treatment for banks with toxic assets on their books, Reuters has reported. The panel, the Investors Technical Advisory Committee was set up by FASB to act as a barometer for investors on accounting rules. Members include representatives from the CFA Centre for Financial Market Integrity and analysts from Moody's Corp, Standard & Poors, Sachs & Co, JP Morgan Securities and the California Public Employees' Retirement System.

Below for their benefit is a list of current virus's on the loose or in development for release very soon. Note - these programs were never trialled, tested or analysed before release to the wild and they cause truly utter devastation once incorporated to accounting valuation systems.

Current international virus list - (non US listing)
The current medium of transfer. Click.

Virus Alert!

IFRS 1 First time Adoption of International Financial Reporting Standards
IFRS 2 Share-based Payment
IFRS 3 Business Combinations
IFRS 4 Insurance Contracts
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
IFRS 6 Exploration for and Evaluation of Mineral Resources
IFRS 7 Financial Instruments: Disclosures
IFRS 8 Operating Segments
IAS 1: Presentation of Financial Statements.
IAS 2: Inventories
IAS 7: Cash Flow Statements
IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors
IAS 10: Events After the Balance Sheet Date
IAS 11: Construction Contracts
IAS 12: Income Taxes
IAS 14: Segment Reporting
IAS 16: Property, Plant and Equipment
IAS 17: Leases
IAS 18: Revenue
IAS 19: Employee Benefits
IAS 20: Accounting for Government Grants and Disclosure of Government Assistance
IAS 21: The Effects of Changes in Foreign Exchange Rates
IAS 23: Borrowing Costs
IAS 24: Related Party Disclosures
IAS 26: Accounting and Reporting by Retirement Benefit Plans (
IAS 27: Consolidated Financial Statements
IAS 28: Investments in Associates
IAS 29: Financial Reporting in Hyperinflationary Economies
IAS 31: Interests in Joint Ventures
IAS 32: Financial Instruments: Presentation IAS 32)([60] Full text[61])
IAS 33: Earnings Per Share
IAS 34: Interim Financial Reporting
IAS 36: Impairment of Assets
IAS 37: Provisions, Contingent Liabilities and Contingent Assets
IAS 38: Intangible Assets
IAS 39: Financial Instruments: Recognition and Measurement
IAS 40: Investment Property
IAS 41: Agriculture


IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities
IFRIC 7 Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
IFRIC 8 Scope of IFRS 2
IFRIC 9 Reassessment of Embedded Derivatives
IFRIC 10 Interim Financial Reporting and Impairment
IFRIC 11 IFRS 2-Group and Treasury Share Transactions (
IFRIC 12 Service Concession Arrangements
IFRIC 13 Customer Loyalty Programmes
IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
IFRIC 15 Agreements for the Construction of Real Estate
IFRIC 16 Hedges of a Net Investment in a Foreign Operation
IFRIC 17 Distributions of Non-cash Assets
IFRIC 18 Transfers of Assets from Customers
SIC 7 Introduction of the Euro
SIC 10 Government Assistance-No Specific Relation to Operating Activities
SIC 12 Consolidation-Special Purpose Entities (
SIC 13 Jointly Controlled Entities-Non-Monetary Contributions by Venturers
SIC 15 Operating Leases-Incentives
SIC 21 Income Taxes-Recovery of Revalued Non-Depreciable Assets
SIC 25 Income Taxes-Changes in the Tax Status of an Entity or its Shareholders
SIC 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease
SIC 29 Disclosure-Service Concession Arrangements
SIC 31 Revenue-Barter Transactions Involving Advertising Services
SIC 32 Intangible Assets-Web Site Costs
SIC 33 Consolidation and equity method - Potential voting rights and allocation of ownership interests

ps - if you invest your own money yourself - none of this ever will infest you and you'll be 30% + 20% & fees to the good, plus you can get at your assets when ever you choose! Give it to the government. They need it.

[herosrest]

- Hero or Zero?

FASB moved from historical cost to fair value.

You really should be breaking into fits of hysterical laughter 'buy' now.
Quite, quite incredible! is this the funck up of all time. YES IT IS.

THE GREATEST REGULATORY BLUNDER - EVER!
IT CONTINUES - IT ISN'T HALF OVER YET. NOT EVEN 30%, YET.

[herosrest]

Who would you like to see on the show, Friday night?

Mr. Meddle & Mr. Muddle - should be good fun.

[herosrest]

All forms of FAN, should be removed immediately from Financial Institutions. It's for the best.

Lots of stuff is going to start flying around soon...... a good bit of it will be warm and brown!

click!

[herosrest]

Whether a margin call is involved is not part of the accounting standard itself; it is part of the contracts negotiated between lender and borrower.


That is a 30% revaluation - automatic - no way around it.
The world was devalued by 30%.

[herosrest]

HOLD THE PRESS - Monetry policy was not the smoking gun behind the current crisis.


This is a very interesting read.
IMF-eese decoder required. Asset-busts (more, very much more will be argued over who busted assets.
The arbitrary revaluation from Mars didn't help at all.)
Monetry policy was not the smoking gun behind the current crisis.


World Economic Outlook - -- -- -- -- -- -- -- -- - Global Financial Stability Report

Data and Statistics -

..

[herosrest]

Everyone, without exception, accepted that FASB knew what they were doing.
That was not the case. They will never admit it!

Twit's in a trance............

Here's the bigger picture.

[herosrest]

This matter of Finance, it's squabbles and the implications is
THE NEWS STORY OF THE CENTURY!

Bigger than anyone or anything. It will be told.
It's a communal omelette. Life just has this way, of getting even.

Market tip - The price of humble is due significant & long deserved gains.

[herosrest]

CLICK!

[herosrest]

Is the sum a big fat zero?

[herosrest]

[herosrest]

'Irish' was there.......

Still in the manual.........

I don't give a Tuck.............

[herosrest]

[herosrest]

CLICK!

With an introduction to the nation's proposed corridors covered, this series will focus on the state of high speed rail around the world. An examination of established networks in industrialized countries and growing networks in developing countries will be contrasted to what is being done around the US. The purpose of this series is to highlight how far America is falling behind the rest of the world in giving its citizens mobility. These articles are meant as alarm bells to policy makers in Washington, warnings that the current state of rail is both a national embarrassment and a detriment to the quality of life of its citizens.

It's an interesting trade off to coal emissions.