ACCOUNTING - Bankruptcy of the World

Swiss Accounting of Prudence - All companies of the Globe are bankrupt

Well, read this and get lost for all Times.

-- All companies and banks and States of the Globe are bankrupt - TODAY.

Read here the proofs:

A. Swiss Accounting of Prudence

When I was young, say about 1965, all Swiss companies and banks were forced to apply by law a system called "Vorsichtigkeitsprinzip" or else "Imparitäts-Prinzip" in Accounting - and it goes like follows:

No company or bank wanted to show profits before they were absolutely sure and realized. For good reason, companies did not want show profits to be taxed highly with income tax, before they were realized. And therefore, companies had millions of "hidden reserves" in the accounting, making in bad times to better survive the crisis. "Imparität" means - unequal principle - never too high of values in assets and never too high of profits, but caution to the max for the protection of the Company or Bank,

So the companies would show only Assets at low values, look for all debts to be in the Balance Sheet and high Provisions for future risks and contracts. Thus the profits were understated and future good figures in the Income Statement a guaranty.

Then came Karl Popper to Zurich around 1980 and explained the Free Market system, liberty from State controls, the geniality of Milton Friedman Chicago School applied under Ronald, Thatcher and Pinochet and then, all of Switzerland - all of a sudden - had Shareholder Value Accounting of Swissair and FASB:

- Billion participations under assets, being in fact worth less than one Swiss Franc

- No provisions for future charges and risks- overstating profits in all companies

- Cheating with consolidation, not showing by idiotic tricks how major debts can get forgotten

- Cheating with Lease and Lease Back systems and other shit of very "wise" crimes

- Overstating all Assets for 15 years and auditors accepting the craze against Cash

Swissair and UBS and many other Companies and Banks were and are bankrupt long time before the actual grounding, but the Idiots in Economics, to say all Swiss except me, did not see the tricks. Even Nestle and Swatch would be dead, if showing the true risks of the future in their accounts.

But it became worse with the U.S. rotten FASB accounting….

B. FASB Accounting in the USA

USA had always very rotten Jewish Banks on Wall Street, very rotten Jewish Rating Offices, very rotten FED and SEC and IRS, believing in the Principles of Friedman and WEF Davos and worse.

And therefore, the "true and fair view" of Accounting Principles of FASB guaranteed that all Banks and Companies of USA were equal to ENRON, LEHMAN BROTHERS and GENERAL MOTORS.

I explain:

Contrary to the Swiss "Prudence accounting" before 1980, the USA always showed the JUNK of Assets highly overstated in all respects:

1. Worthless ABS, CDO, CDS, structured Products, derivates, not existent contracts and bluff-bets in banks and insurance and the rest of business - still today - overstated by at least 20 trillions of dollars. Would the true zero values been shown under FASB, USA companies would be dead as dead can be, immediately.

2. US rotten companies never account for future risks and therefore show profits that are never in existence. This blows up the stockholder equity to the max and Karl Popper and Milton Friedman around Obama and GW Bush clap hands in their graves.

3. USA does not account for future risks out of dead infrastructure and the real costs of the bankruptcies of banks, conglomerates and the nation, the 50 States and the Towns of USA.

4. It is an illusion that with CHINESE ACCOUNTING, showing all profits and never the potential of losses, such a State like USA could survive at length.

In short - USA is dead in all respects and does not know yet.

The reason that USA and JAPAN and other rotten nations are still at life, is due to the tricks of the Rating Offices with Triple AAA - thus guaranteeing their refinancing by one to 3 percent of interest rates, instead as for rotten and bankrupt States since the years 2000, with rates of 10 to 20 percent. Comes the BLUFF of US Banks and Conglomerates on the table, the whole land shall go down to hell and all Stock Exchanges get closed. Capitalism is dead.

C. Criminal Accounting CHINESE STYLE

China is not the richest of all States in the world, but the most rotten and dead of all.

The reason is the so-called CHINESE ACCOUNTING:

1. No 200 trillions of today's Dollars as Provisions for ECOLOGIC DEATH of China within the next 10 years.

2. Not seeing that U.S. Treasury Bonds and other Scrap out of USA are worth nothing.

3. Not accounting for the errors, JAPAN did before - in Production and in Estate Bubble.

4. Not accounting for the loss of EXPORT MARKET, killing some million of companies in China soon.

5. Not accounting for the rotten INLAND MARKET, short before the implosion of a terrifying bubble, not only in real estate.

6. Getting the food from land stolen in Africa and other agriculture and mines, that shall never deliver, when the needs become overwhelming for their own pops in Africa or else.

7. The Explosion of Pops in China and India make, that the rotten folks are dead before they realize, that they have poisoned rivers and lakes, no ground water anymore, droughts like never seen before and an actual poverty of the masses, that can explode the nations reserves and possibilities any time.

8. FASB accounting of USA and JAPAN, making blind for risks and all seeing in rosy light of DAWN, when in fact, the Chinese and Indians, like Africa and Brazil are as dead as Greece, Italy, Argentina, Israel and Switzerland.

D. All Companies, Banks and Nations are bankrupt

Would all Companies of the World apply "Swiss prudence accounting" at once and show the zero values of Junk Bank Papers, hedge funds, structure shit, participations of zero values, even for gold and oil coming to the end very soon and alternative energy only functioning with Chinese seldom Earth getting out next - my God, the Obama and his Tea Party advisors would be recognized having tons of SHIT in their Brains and don't know.

And be sure that with this article, I did not overstate the true State of Affairs in World Economy, but forget some 100 points that all make the situation much worse - for example that the values at Stock exchanges are still overstated like all Assets in all Balance Sheets of the world by 300 Percent and more.

These POPS of Democrazy - to say "Dictatorships of dull Majorities" have crept too long in the assholes of stupid Elite and VIPs, steeling and destructing the savings of World Workers, World Employees and World Farmers, paying their Taxes to cover the Craze of bankrupt Lehman, Goldman, Landesbanken, WEF, UBS and all the rest of Occupy - ALONE - and the rich and powerful are still grinning like hell, short before the overall massacre.

The End of the Game in Capitalism

Still grinning -Idiots? Well, I write in my books since 1975 that capitalism and criminal neo-conservative Liberalism of the forerunner USA, the most stupid and criminal JUNK of all times in history, were on the way of death and bankruptcy - in matters of Ecology, water, climate, weather-machinery, finances, industry, banks, nations and over-pops of some Obamas and Putins, having the intellect of snakes and dogs.

Sorry for my "Holocaust of Animals" - it is the other way round - the animals risk to get the IQ of Obama, Merkel, Berlusconi, WEF Schwab, Murdoch, GW Bush and the Jewish banks on Wall Street. When the animals are in this State too, they too shall go in a planetary bankruptcy - and this indeed would be very, very SAD.

René Delavy - Berlin and Bournemouth

written on November 22, 2011