Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » Anglogate

Post new topic Reply to topic  [ 45 posts ]  [Go to page]   Previous  1, 2, 3, 4, 5  Next
Author Message
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 5:43 pm 
Offline
Too Big to Fail

Joined: Feb 21, 2008
Posts: 4425
mr_anderson wrote:
Its so damn obvious theres a major story here.
Wonder what Kathleen Barrington knows, but can't print.


If you look here

http://www.reuters.com/finance/stocks/companyProfile?symbol=VLRT.S

its obvious that Valarits is a bog standard Swiss bank for "recycling" Eastern European and Russian money. Plus we know several Swiss based Friends of Anglo who dabble in the same trading areas.

Maybe the reason why they are so intent on a shotgun marriage between Quinn and Anglo might have something to do with Quinns investments in Russia. No sane (or honest) person invests in Russia..

Iceland could have been just a cover after all. Maybe Anglo was a major conduit for recycling Russian money. That might explain Anglos haste in dumping the Austrian operation in 2008. Selling an embarrassing subsidiary to one of its customers so it cannot create any more potential problems.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 6:16 pm 
Offline
Of Systemic Importance

Joined: Nov 7, 2007
Posts: 5669
Austrian banks up until a few years ago have accounts that can be opened effectively anonymously.

So an Austrian bank is a great place to have FU money .

_________________
FF should disband


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 6:28 pm 
Offline
IMF'd

Joined: Sep 13, 2007
Posts: 31887
Location: Tullamore
mr_anderson wrote:
Its so damn obvious theres a major story here.
Wonder what Kathleen Barrington knows, but can't print.

Names...

_________________
"It is impossible to design a system so perfect that no one needs to be good."

So long and thanks for all the fish.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 7:37 pm 
Offline
Under CAB Investigation
User avatar

Joined: Oct 20, 2010
Posts: 2237
jmc wrote:
No sane (or honest) person invests in Russia.

Russia is not for the faint hearted but insanity or dishonesty are not prerequisites for investing there. Extreme due diligence is and that is how thousands of foreign investors successfully operate there. These are the ones you don't read about in the newspapers or hear about on television/radio because they are just keeping their heads down and getting on with business. One of the most high profile retail banks in Russia is an affiliate of one of the Austrian banking majors so they are already into the market on a large scale and at a legitimate level. It doesn't take an obscure Austrian subsidiary of a minor Irish bank to do it under the radar.

jmc wrote:
Iceland could have been just a cover after all. Maybe Anglo was a major conduit for recycling Russian money. That might explain Anglos haste in dumping the Austrian operation in 2008. Selling an embarrassing subsidiary to one of its customers so it cannot create any more potential problems.

My guess is that the real explanation is much more prosaic. Those accounts were owned by the usual suspects within Ireland and they don't want an Ansbacher Mk II on their hands.

_________________
banana republic, septic isle


Last edited by JohnnyTheFox on Mon Feb 07, 2011 8:25 pm, edited 1 time in total.

Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 7:58 pm 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 11785
Location: Multiverse
JohnnyTheFox wrote:
My guess is that the real explanation is much more prosaic. Those accounts were owned by the usual suspects within Ireland and they don't want an Ansbacher Mk II on their hands.


From Irelands perspective, thats it.
But I'm sure if their accounts were opened up, then every country would have an Ansbacher moment.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Mon Feb 07, 2011 11:03 pm 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3876
JohnnyTheFox wrote:
My guess is that the real explanation is much more prosaic. Those accounts were owned by the usual suspects within Ireland and they don't want an Ansbacher Mk II on their hands.


Would be inclined to agree. To me, all the Anglo weirdness is actually fully explainable given a knowledge of the past misdeeds and history of Ireland's oligopoly/rentier/tax evader c*** class. It just shows that nothing has changed since the 1980s - except things got worse, if anything. All the odd stuff that doesn't make sense at first glance makes perfect sense when you consider who the type of people who ran Anglo and did business with the bank were - and who they modelled themselves upon. Arthur Daley wideboys on the make, with better educations, basically. And much more cynical.


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Tue Jul 19, 2011 12:40 am 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3876
The source is an eccentric conspiracy theory blog, but, still, intriguing:

Quote:
Both Henke and Coningham placed the money they had accumulated from patriotic Australians (and the Australian Federal government at the time) with the Anglo-Irish Bank of Austria.


http://www.henrymakow.com/fozsdyke.html


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Fri Jun 22, 2012 10:24 pm 
Offline
Nationalised
User avatar

Joined: Jul 26, 2009
Posts: 14892


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Thu Feb 07, 2013 9:12 pm 
Offline
Nationalised
User avatar

Joined: Jul 26, 2009
Posts: 14892
Quote:
1. The main components of other operating income were EUR’000 135 representing reversals of provisions. The compensation for the cost of a software package that was developed in Vienna for the entire Anglo Group amounted to EUR’000 367.
In addition, EUR’000 162 from a refund of pension obligations concerning a former Management Board member that were taken over by the Bank's former owners are included. The rental income from the bank building amounts to EUR’000 161; furthermore, income belonging to other accounting periods in the amount of EUR’000 9 was reported under this heading.
2. In the financial period, the Company did not use any agency services.

V. Notes to financial instruments

Valartis Bank (Austria) AG employs derivative products for hedging customer transactions. As of 31 December 2009, hedging and forward transactions were carried at a total nominal amount of EUR 7 million (31 Dec. 2008: EUR 6 million), the market value amounts to EUR 6.8 million. The hedging transactions desired by customers are dealt back to the bank, and in turn, secured with Anglo Irish Bank in Dublin. The bank carries both transactions in its books; the transactions are entirely risk-free and the bank acts purely as an intermediary in these transactions.
The forward transactions not yet settled are carried at the following nominal amounts:
Code:
Contracts Nominal amount Currency
FX-Forwards 3.669.000 EUR/USD
FX Forwards 50.000 GBP/USD
FX Forwards 14.000.000 JPY/USD
FX Forwards 67.000 USD/CAD
FX Forwards 4.154.500 USD/EUR


In connection with the acquisition of the bank's bond portfolio and the related hedging of the interest-rate risk, Valartis Bank (Austria) AG has acquired futures with maturities of two, five and ten years from Valartis Bank AG, Zurich. The contract value amounts to EUR 221 million on the balance sheet date and for the most part relates to nominal values expressed in euros.

source Annual Report 2009


The photo here is not Patrick Kennedy - http://www.linkedin.com/pub/patrick-kennedy/1/498/192

'Patrick Kennedy
Director at Valartis Bank (Austria) AG
Past
Senior Manager at Anglo Irish Bank Isle of Man
Assistant Director at EFG Private Bank London
Manager at Standard Chartered Bank
Education
Henley Management College
Mill Hill School'


http://www.davidmcwilliams.ie/2010/09/0 ... ent-page-3


Top
 Profile  
 
 Post subject: Re: The Curious Case of Anglo's Austrian Deposits - SBP
PostPosted: Thu Feb 07, 2013 10:13 pm 
Offline
Nationalised
User avatar

Joined: Jan 4, 2013
Posts: 17351
How do you know?

_________________
— Try, fail, understand, win. —


Top
 Profile  
 



Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 45 posts ]  [Go to page]   Previous  1, 2, 3, 4, 5  Next

    Board index » The IRISH PROPERTY BUBBLE » The Golden Circle » Anglogate

Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com