THE SHADOW MONEYLENDERS and the Global Financial Tsunami

Book: Shadow Moneylenders
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    The one author who predicted it all . . . and what is still to come . . .

    From the author of two of the most successful books in AFP history . . . The man who boldly exposed the Zionist-Anglo-American meltdown . . .

    MATTHIAS CHANG IS BACK! The no-nonsense author of FUTURE FASTFORWARD and BRAINWASHED FOR WAR is now laying bare the secrets of the global criminal enterprise he calls . . .

    THE SHADOW MONEYLENDERS

    Matthias Chang’s new book, THE SHADOW MONEYLENDERS and the Global Financial Tsunami, is the only up-to-date work that fully explains the corrupt nature of the international money monopoly and the role the funny money Federal Reserve System plays in its perpetuation . . .

    A comprehensive overview of the Global Money Scam: You’ll understand its venal nature as never before!

    • Understanding the Derivative Market Casino
    • What is Money? . . . 'Fiat' Money Explained
    • The Concept of Paper Money Before 1971—and afterward
    • Funny Money Accounting Rules
    • Thomas Jefferson on the Threat Posed by Money Lenders
    • Financial Armageddon Is Upon Us
    • Open Global Currency Warfare: Fed Ditches the Dollar
    • Alan Greenspan: Financial Charlatan & International War Criminal
    • The Global Banking Collapse
    • Will America Be Compelled to Impose Capital & Exchange Controls?
    • The Fraudulent Structure of Mortgage-Backed Securities
    • Fractional Reserve Banking—Dead
    • Abolish the Fed, Central Banks and Taxation!
    • What Lies Ahead—and What You Can Do to Protect Yourself!

    Softcover, 395 pages
    Table of Contents

    INTRODUCTION

    The Global Shadow Money-Lending System            v
    ISDA – International Swap & Derivatives Association                 vii
    Understanding the Derivative Market Casino                              xv
    When Things Go Wrong Because of Greed                                xxi
    A World of Illusions                                                                       xxv
    September 11 and the Credit Bubble                                      xxvii


    PRESIDENT THOMAS JEFFERSON

    On The Threat of Money-Lenders   xxxi

    WHAT IS MONEY?

    Thinking About Money                                                               xxxiii
    Money Is An Idea                                                                          xxxv
    There Must Be Consensus                                                       xxxviii
    The Element of Confidence                                                        xxxix
    The Concept of Paper Money Before 1971                                     xl  
    The Concept of Paper Money After 1971                                     xliv
    “Fiat” Money                                                                                  xlvii


    GLOBAL MONEY-LENDERS CAUGHT IN THEIR OWN
    FUNNY MONEY ACCOUNTING RULES

    Debt 101 Revisited                                                                         xlix
    The Money-Lenders Got Greedy                                                       l
    How Can the Money-Lenders Factor Their Book-Debts?             lii
    Defaults Set In                                                                                   lv
    Strange Phenomenon of  Fed Rates Down,
    Borrowing Rates Up                                                                        lvii
    Collapse of Auction Rate Securities                                             lviii
    Costs of Credit Default Swaps                                                         lx

    PART 1:  AN OVERVIEW OF THE FINANCIAL STORM    1

    1. The Financial Rapists In Sheep’s Clothing Part 1     3
    2. The Financial Rapists In Sheep’s Clothing Part 2               17
    3. The Global Banking Collapse Part 1   23
    4. The Global Banking Collapse Part 2   34


    PART 2:  SOUNDING THE FINAL ALARM  39

    5. 1st Red Alert – Fed Finally Admits Banking Collapse   41
    6. 2nd Red Alert – Second Confirmation:
                    Big Banks Are Insolvent    46
    7. 3rd Red Alert – 2nd Red Alert Analysis
                    Corroborated By Financial Experts  51
    8. 4th Red Alert – Financial Armageddon Is Upon All of Us  54
    9. 5th Red Alert – Federal Reserve Letter
                    to Bank of America   58
    10. 6th Red Alert – Don’t Believe the Hype,
                    Don’t Be Greedy                                           65

    PART 3: A WORLD OF MAKE BELIEVE                         69

    11. The Fairy Tale Budget for A Life In Wonderland  71
    12. Wall Street Surge: After Fed Cut Rates – Wow!  77
    13. 7th Red Alert – Open Global Currency Warfare
                    Fed Is Ditching the Dollar  83
    14. 8th Red Alert – Financial Charlatan, Crook and
                    International War Criminal:
                             Alan Greenspan  91
    15. Dow 300 Points Collapse  98

    PART 4:  THE FRAUD UNRAVELS

    16. USA Will Be Compelled To Impose Capital
                    And Exchange Controls – Global Pandemonium 105
    17. Jim Rogers’ Options – What Are Your Options? 108
    18. World’s Financial Markets Shattered
                    By Merrill Lynch’s US$8 billion Write-Off
                    From Sub-Prime Losses 110

    19. How I Can Be Wrong and Still Be Right 112
    20. 9th Red Alert – Go for Hong Kong Dollar 119


    PART 5:  ATTEMPTS AT COVER-UP

    21. 10th Red Alert – The FASB 3rd Level Cover-up Fraud 123
    22. 11th Red Alert  130
    23. Lord William Rees Mogg
                    Lets the Cat Out of the Bag 131
    24. Booming Market for Structured Investment Funds  139
    25. Understanding the Fraudulent Structures   
                    of Mortgaged-Backed Securities             145
    26. Year End Alert  153


    PART 6:  NO WAY OUT

    27. The Death Knell for Fractional Reserve Banking  157
    28. Appealing to Greed:
                    Will Malaysian SIVs Succeed In This Suckers’ Game?  167
    29. Why Would Anyone Pay 85 Cents
                    For Something Worth 20 Cents
                    Or Even Less – For Junk?  176


    PART 7:  THE CURTAIN COMES DOWN

    30. 2008 – The Year of Confusion,
                    Despair and Extreme Anger
                    For Many Innocent and Hardworking Wage Earners  189
    31. Malaysian Stock Punters – Gluttons for Punishment  198
    32. PM: Confidence Perks Up Bourse  205
    33. Pak Lah – Another Con Artist, Like Bush  212

    POSTSCRIPT: NONE DARE CALL IT GAMBLING

    The Golfer & Derivative Trading  219
    Davos Re-Visited  222
    Controlled Chaos and “Creative” Destruction  224
    Norman Podhoretz – The Personification of Evil  228
    Abolish the Fed, Central Banks and Taxation  232

    APPENDICES

    Appendix 1: The Risk and Danger of Derivatives
                    What You Should Do To Prevent It  241
    Appendix 2: Capacity of Counter-Parties in
                    Derivative Transactions                                        262
    Appendix 3:  QCC’s Quarterly Report on Bank
                    Derivatives – 3rd Quarter 2007  284
    Appendix 4: Fed’s Analysis of Reserves of    
                    Depository Institutions  316

    From the Introduction


    The intended title of my third book was The Shadow Money-Lenders and the 9-11 Money Machine. I wanted to expose the Global Shadow Money-Lenders and how they exploited the events of 9-11 that enabled them to control global banking and finance in a manner beyond their wildest dreams.

    However, events in December 2006 prevented me from embarking on the research as it was apparent then that the global banking system and the shadow money-lenders’ agenda were fast collapsing.

    I abandoned my efforts to write my third book and devoted all my efforts to collecting and collating data, scanning the latest news reports, downloading financial newsletters etc. so as to be up to speed on the fast unfolding events, and to come up with timely analysis and forecast. The contents of this book will show that I was way ahead of the curve, and time and again proven right in my conclusions.

    The main message in this book is blunt and direct. And I offer no apologies. The modern banking system has collapsed. This has triggered a Financial Tsunami. The consequences will be ugly. For those Americans who are now living in tents as a result of foreclosures by banks, they need no further convincing. However, if you are still indulging in intellectual masturbation, you deserve to be wiped out.  

    It can be said without any fear of contradiction that people acquainted with global finances are familiar with the names of the major global banks and investment houses such as Goldman Sachs, J.P. Morgan Chase, Merrill Lynch, Bear Stearns, Citi Group, Morgan Stanley, the Rothschild Bank, Bank of America, Deutsche Bank, HSBC, Barclays Bank, UBS etc.

    But few would be aware of the organization set up by the above-named banks to organise and manage the Shadow Money-Lending System. I give you the name of this organization. It is: I.S.D.A International Swap & Derivatives Association.  ISDA is the organization that spawned the US$500 trillion3 global derivatives market. This is the organization that designed and manufactured most, if not all the derivative products – the financial WMDs.

    For those who have not read my book, Future Fast-Forward, I append below the critical passage regarding  the danger of derivatives.

    Gambling on Derivatives — Financial Tsunami
    Warren Buffet, the world’s greatest stock market investor, known as the ‘Sage of Omaha’, in his Chairman’s Letter in the Berkshire Hathaway 2002 Annual Report, said: “We view them as time bombs both for the parties that deal in them and the economic system. In our view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.”

    As far back as 1990, Sir Julian Hodge in a memo dated November of that year to senior executives of the Julian Hodge Bank said: “In no circumstances enter the derivatives trading market without first agreeing to it in writing with me  . . .  At some time in the future, it could bring the world’s financial system to its knee.”

    We need only to recall the fear and panic caused by the collapse of the hedge fund LTCM whose principal shareholders were Prof. Robert C. Merton of Harvard University and Prof. Myron S. Scholes, who shared the Nobel Prize in Economics for ground-breaking research in determining the value of derivatives. The Federal Reserve had to intervene and rescue the fund at a cost of US$3.5 billion as it was feared that its collapse would cause a meltdown of the world’s financial system.

    The QCC Bank Derivatives Report for the 3rd quarter of 2004 reported that the notional value of derivatives held by U.S. banks rose to a record US$84.2 trillion, from US$81 trillion in the 2nd quarter. This is mind-boggling! The report stated that derivatives volumes continued to be dominated by interest-rate contracts, which grew US$2.4 trillion during the quarter to US$73 trillion or 87% of the total derivatives volumes. Foreign exchange contracts rose US$163 billion during the same period to US$7.9 trillion or 9% of the total. The remaining 4% was made up of equity, commodity and credit derivatives. The banks’ total risk exposure through these financial instruments rose to US$804 billion, up from the previous quarter of US$752 billion.   

    It should be noted that as at December 31, 2003, the top 25 U.S. commercial banks and trust companies accounted for 95.5% of total derivatives traded. They are as follows:

    1) JPMorgan Chase  $  36.8 trillion
    2) Bank of America NA  $  14.8 trillion
    3) Citibank  $  11.1 trillion
    4) Wachovia Bank National Assn  $    2.3 trillion
    5) HSBC Bank USA  $    1.3 trillion
    6) Bank One National Assn    $    1.2 trillion
    7) Bank of New York  $   561 billion
    8) Wells Fargo Bank  $   557 billion
    9) Fleet National Bank  $   443 billion
    10)  State Street Bank & Trust Co    $   369 billion
    11)  National City Bank  $  252 billion
    12)  National City Bank of In  $  133 billion
    13)  Keybank National Assn  $    91 billion
    14)  Mellon Bank National Assn    $    88 billion
    15)  Standard Federal Bank NA    $    78 billion
    16)  Suntrust Bank  $     77  billion
    17)  La Salle Bank National Assn    $     70 billion
    18)  PNC Bank National Assn  $     48 billion
    19)  Deutsche Bank TR Co Americas   $     46 billion
    20)  US Bank National Assn  $     43 billion
    21)  Merrill Lynch Bank USA  $     35 billion
    22)  Capital One Bank  $     28 billion
    23)  Northern Trust Co  $     26 billion
    24)  Irwin Union Bank & Trust Co    $     19 billion
    25)  Union Bank of California NA         $     19   billion*
    * All figures have been rounded up to nearest billion.

    What is of concern is that the top three banks have exposures far in excess of their assets. The statistics in the QCC report is alarming. In the case of JPMorgan Chase, while exposure is US$36 trillion, assets are only US$628 billion which works out to approximately US$58 of derivatives per dollar of asset. Credit exposure to Risk Based Capital Ratio is approximately 844%.  Bank of America’s exposure is US$14.8 trillion while assets are US$617 billion, the ratio being approximately US$24 of derivatives per dollar of asset. Credit exposure to Risk Based Capital Ratio is approximately 221%. And in the case of Citibank, exposure is US$11.1 trillion while assets are US$582 billion, the ratio being approximately US$19 of derivatives per dollar of asset. Credit exposure to Risk Based Capital Ratio is approximately 96% ...



    Matthias Chang served as the political secretary to former Malaysian Prime Minister Tun Dr. Mahathir Mohamad.

    MEET MATTHIAS CHANG:
    Malaysia’s No-Nonsense Defender of American (and Malaysian) Independence from the New World Order
    :

    In recent years, attorney Matthias Chang, one of the best-known trial lawyers in Malaysia, has emerged as a hotly controversial and always-outspoken figure in the political affairs of that Southeast Asian republic.

    Although a Christian, educated though his childhood years and on through law school in England, Chang is of Chinese descent in a country which is a remarkable ethnic amalgam of native Malays, diverse Chinese elements, as well as a considerable number of Indians (Christian and Muslim alike) and many, many other ethnicities.

    Having established himself as a well-known and highly successful attorney and entrepreneur, Chang entered public service for the first time in the closing years of the 23-year-reign of “The Father of Modern Malaysia,” Dr. Mahathir Mohamad, appointed by Mahathir to serve in the pivotal post as Mahathir’s Political Secretary.

    Today, following Mahathir’s retirement in 2003, Chang continues to serve as a confidant and advisor to the ex-Prime Minister who remains a major force not only in Malaysia but throughout South- east Asia and, indeed, the entire Muslim world, reaching every corner of the planet.

    A no-holds-barred critic of Zionism and global imperialism, like Dr. Mahathir himself, Chang is well-versed in American history and political affairs and is a fervent admirer of the real American tradition, not the distorted and twisted form of “Americanism” being promoted by the likes of George W. Bush and his neo-conservative handlers and their allies in Israel.

    With the publication of his first book, FUTURE FASTFORWARD, Malaysian attorney and diplomat Matthias Chang unquestionably established him-self as a front-line geopolitical strategist in the fight to derail the forces of global imperialism that are generally known as “The New World Order.” American Free Press had the distinct honor of releasing the first-ever American edition of that book, which had already been a best-seller in Chang’s native land.
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