The Dutch Bank SNS- Reaal – Including insurance division is when the water is at its lips declared a system bank and to big to fail by other banks swiftly. Really? Goldman Sachs has been asked by the bank to look for solutions. Oh yes Goldman Sachs?! The bailout loan 848 Million Euros should be paid back full with interests next year. The bank says to be hit by the ongoing crisis and housing crisis. The bank makes to little profit it seems. Also SNS needs to get her core capital to 10% as EU regulations order is the excuse.
It seems here already a game is played with taxpayers money. They could have known and set of the alarms earlier, not after 4 years of no interest payments (only an initial few). My questions would be: Why the Dutch government knowingly did not tell about the outstanding repayments of SNS-Reaal and why the parliament was not informed as its people’s representatives about this taxpayers loan (bailout) that is not paid back as agreed upon?
SNS-Reaal seems to see the only solution in selling their insurance division. In the last years the bank targeted savers to bring money in and the insurance division seemed to do well. To me it seems somewhere in those facts and figures things do not add up. Also daughter Property Finance doesn’t do well due to the housing crisis for some time. A pause on repayment needs to be next to the Dutch government and parliament also backed and agreed upon by Brussels. The EU and Euro zone are rapidly following crisis after crisis.
As the bailout interest payments are not paid back the interest is piling up. The liquidity of the bank needs to be complying with the EU rules as said 10% core capital. The bank says not to have money enough to comply to the liquidity rules and money for repayments with interests at he same time. Really? And that fact you just remembered today?
Why SNS-Reaal or the government or finance minster not set of the alarms earlier and for sure after 4 years of no interest repayments is crucial. My questions would be: Why the Dutch government knowingly did no tell and address the outstanding repayments and liquidity problems with the bank openly? Why was the parliament not informed adequate years ago about the lack of repayment by the bank and or government?
It seems that taxpayers money is played with as if there need not be any accountability in any form. The arrogance shows. Only after things terribly go wrong they feel somewhat obliged to inform the world. Who pays the bill like all those others that are pushed into austerity for loans and debt that is not caused by them, it is: “We The People”. It should be over with this play and the final act should be addressing the accountability, the fraud, deceit of the bankers and justice taking place to clear the old system of this structural idiocy. Gentlemen you have no honour and the game is over.
We need to stop paying for those who have no claim whatsoever on us. As the money is not word the paper it is printed on. The fiat-currency system and all the fraudulent old has to go. We have never been told by banks, financial institutes and governments and treaty organizations we have no liability as administrators and holders of our own trusts for the illegal and unlawful deceit, deception, fraud, racketeering, embezzlement,robbery,crimes, manipulations and lies that we have been undergoing. There are no contracts lawfully made as we have been misled and misinformed structurally. It seems the people need to know they have been told to believe in an illusion and the bankers and other greedy entities have been exploiting that for the soul benefit of their own pockets, control and power. It is enough and you will be sooner or later all brought to justice. We will not be anymore the ones taking up the bills. You as corporations including the state should be liable for all this.