Squalebear's Account Talk

[Frixxxx]

steady please see pm asap.

SB...see pm article please. I find it alarming especially since one of Osprie's funds just failed ...combined with the news about Barclays.

Would love to read those pm's, oh goddess of knowledge and sanity!

 

[CountryBoy]

I've expressed my concern several times regarding the safety of our funds being managed by barclays and the glaring lack of oversite and protection, of our funds, by Long and his posse. They should be protecting us and giving us the best advantage to increasing the size of our retirement funds, but as we've seen time and time again, their main purpose is supporting barclays wha are gambling with our retirment funds to line their own pockets and the Board has their heads where the sun doesn't shine. So no protection.

The board has talked outta both sides of their mouths for years now. I just want assurance our funds are indeed protected, like several folks have said before 105% of zero is still zero. That 105% protection just pegs my BS meter everytime I hear that barclays is protecting our funds with that much backing. :laugh:

And yeah I'd love to read those pm's also l2r.

CB

 

[Steadygain]

Would love to read those pm's, oh goddess of knowledge and sanity!

I'm like a little child - that tries to think like a grown up - and my innocence and lack of understanding sometimes cause problems.

Nothing thrilling or exciting; but you're very much becoming a part of our world and I'd imagine you'll be included in many PMs to come.

 

[nasa1974]

In the Full Article, (wow, It must have been a longer Holiday then I thought)

SB, I agree with Steady. Well said. It took me until 2004 to realize my error.

Just took a big gamble, jumped off the lilly pad into deep water. Went 10%G, 45%C and 45%S. Somethings up, and I hope it has a positive spin to it.


May the force be with US.

 

[luv2read]

OK folks,

Here's the article I sent to SB. Awhile back we were trying to figure out what happened on/around June 25 that caused Barclays to change the way the I fund was handled. Braveheart nailed it, but I just found this additional article. It also explains why the sudden change. This one, combined with today's news about Osprie's hedge fund failing, alarmed me because there no guarantees against losses by the fund manager and all of our TSP monies are supposedly invested in Barclays index (not hedge)funds, but do we have any guarantees of that? We do know that Barclays was heavily invested in BSC's (Bear Stearns) two hedges that failed last year - and the outcome of that.

Just found this article

Barclays Capital in Dubai to back Sharia-compliant hedge funds

http://archive.gulfnews.com/articles.../10222176.html
06/19/2008 07:25 PM | Bloomberg

Dubai: BlackRock Inc, the largest publicly traded US money manager, and Ospraie Management, are among five companies that will start Sharia-compliant hedge funds based in Dubai.

The funds will get $50 million each in so-called seed capital from the Dubai Multi Commodities Centre Authority, a government-backed agency.
Barclays Capital, securities unit of Britain's fourth-largest bank, will also back the funds which will start in the next two weeks, said Frank Gerhard, the bank's head of fund-linked derivatives strategy in an interview.

Sharia forbids investment in companies judged by scholars to be highly indebted, and those involved in alcohol, gambling and weaponry.
Financial information companies including Standard & Poor's and Dow Jones & Co. have started Islamic indexes that show only Sharia-compliant companies. The world's Muslim community has about $3.6 trillion of combined wealth, Standard & Poor's estimated in 2006.

"There's demand in the market,'' Gerhard said. "If there are significant inflows in the hedge fund space they will be coming from the Middle East. This is a product they can use.''

John Paulson, founder of the hedge fund company Paulson & Co, said global writedowns and losses from the credit crisis may reach $1.3 trillion, exceeding the International Monetary Fund's $945 billion estimate.
The five commodity-based funds will trade on the Al Safi Trust alternative investment platform, with Shariah Capital Inc as adviser and Barclays Capital as prime broker. The three other funds include Tocqueville Asset Management, Lucas Capital Management and Zweig-DiMenna International Managers.

"All the five are best-of-breed asset managers,'' said Eric Meyer, Shariah Capital's president and chief executive officer, in an interview.
"For them to say we're going Sharia should resonate.''

Demand for Islamic investments has increased as oil money floods into the Persian Gulf.
The global Islamic finance industry's assets under management are increasing by 15 percent a year and may have topped $1 trillion, according to the Malaysia- based Islamic Financial Services Board.

 

[CountryBoy]

Thanks l2r,

Now if only we had 100% transparency (new financial word, I finally got to use it) as to where barclays is putting our money. I don't want one red cent of my money go to any Sharia approved stock. !!

Where's our oversite? Where's Causey or Smith? Oh yeah they are mouth pieces for the board and can only write FTRIB approved columns or opinions, hmmm, kinda sounds like censorship (communism/socialism).

And of course we can't depend on our congress, cause they are probably involved in the kickback. :laugh:

CB

 

[Steadygain]

For what? Expressing concern about the safety of my retirement?

Luv2read,
I'll not say any more beyond this (regarding this matter) but this is what I believe deep down in my heart and I have no doubt it's true.

As a Federal Employee - I am convinced the United States Government and all the Powers connected with it will insure the safety of my TSP Fund. The safety of my Account is as guaranteed as the USA - and it's Government - and Barclays is simply an extention holding a "certain responsibility". If they are unable to fulfill their obligation our Government will intervene.

I've been in the TSP over 5 years - and throughout at least 90% of that time I had unlimited trades (at no cost) which allowed me to profit immensely. For that I am grateful.

But for me the Bottom line is not Barclays - it's the US Government and it's ability to right the wrong; so when I see Bear Steans, Fannie Mae and all the others....I have all the more reason to have faith.

 

[Guest2]

Wow, I leave for a minute or two and look what happens ! :toung:

I love the fact that every single one of us have something to say
concerning our TSP and Topics that could have a profound affect
upon it. This is a open, unbiased and informative thread. (at least,
thats my goal). I truly welcome everyones opinion. Be it good, bad
or indifferent. As long as it is written out of respect, I won't find
the need to Gas Ya, Split Your Wig and Stick Ya in the Hole!
Ooops, Sorry, work flashback :laugh:.

Steady; your not child-like and started absolutely nothing. Your a
much welcomed voice of experience. A man who's Respect is echoed
throughout almost every thread in this website. Don't Change !

L2R; Your PM that you sent to me was informative and useful. Even
though you'll never need an invitation, I invite you to share such info
to the masses by utilizing my thread, should you desire. I have first
hand knowledge that you are one of the most insightful and most often
read members here. If I want to draw members to my thread, alls I need
do is ask you a question. The membership flock to this thread, not to read
my BS, but to see your responses. Don't Change !

Nasa; there will be many who don't agree with Steady. My Big Brother
has more then earned the respect that I have for him and I thank you
for showing him you feel the same way. As far as your move off the Lilly
Pad, I don't know if "Somethings Up" but today appears to be better
then yesterday (as I did) to do some jumping ! The only question that
I have is; why 10% in the (G) ? What benefit did that serve, other then
making you feel better about not being 100% at risk ? I'm not trying to
be sarcastic, I am truly confused and seek your thoughts. By the way,
Don't Change !

CB; Well, what can i say ? Your just one pissed off Countryboy. But your
fears concerning BGI, Barclays and the FRTIB are based on fact and the
reality of Smoke & Mirrors won't pull the wool over your eyes. (Baaaah !)

WOW, THAT TOOK ME SO LONG, I'VE GOT TONS TO CATCH UP ON.
DARN IT I'M SLOW !

 

[Guest2]

Thanks l2r,

Now if only we had 100% transparency (new financial word, I finally got to use it) as to where barclays is putting our money. I don't want one red cent of my money go to any Sharia approved stock. !!

Where's our oversite? Where's Causey or Smith? Oh yeah they are mouth pieces for the board and can only write FTRIB approved columns or opinions, hmmm, kinda sounds like censorship (communism/socialism).

And of course we can't depend on our congress, cause they are probably involved in the kickback.

CB

100% Transparency Should Be Mandated ! Period ! I Agree !
Kickbacks and alike, I think not ! :blink:

 

[CountryBoy]

Luv2read,
I'll not say any more beyond this (regarding this matter) but this is what I believe deep down in my heart and I have no doubt it's true.

As a Federal Employee - I am convinced the United States Government and all the Powers connected with it will insure the safety of my TSP Fund. The safety of my Account is as guaranteed as the USA - and it's Government - and Barclays is simply an extention holding a "certain responsibility". If they are unable to fulfill their obligation our Government will intervene.

I've been in the TSP over 5 years - and throughout at least 90% of that time I had unlimited trades (at no cost) which allowed me to profit immensely. For that I am grateful.

But for me the Bottom line is not Barclays - it's the US Government and it's ability to right the wrong; so when I see Bear Steans, Fannie Mae and all the others....I have all the more reason to have faith.

Steady,

I wish I had your faith in our Gov't protedting our retirement funds, but after 25 years with the Feds and just plain old living, they will only do something if it is in their best interest.

I just contacted NARFE again about all of this including what occurred with the IFT's and they ask me to send them am email outlining our concerns and thoughts. Again they may have been blowing sunshine ( I won't elaborate of the location of the sunshine so as not to spoil folks appetites)

So we shall see. I am skeptical of really getting any sort of help from NARFE, because they are probably funded somewhat by the feds.

That's one reason, I'm really leery about leaving the G fund, until all this financially hocus pocus clears up, though I will jump in and out quickly, but I worry about the safety of our funds. I could be just an old fart nearing retirement and figger the Feds screw everything else up, why not this.

CB

 

[Guest2]

Luv2read,
I'll not say any more beyond this (regarding this matter) but this is what I believe deep down in my heart and I have no doubt it's true.

As a Federal Employee - I am convinced the United States Government and all the Powers connected with it will insure the safety of my TSP Fund. The safety of my Account is as guaranteed as the USA - and it's Government - and Barclays is simply an extention holding a "certain responsibility". If they are unable to fulfill their obligation our Government will intervene.

I've been in the TSP over 5 years - and throughout at least 90% of that time I had unlimited trades (at no cost) which allowed me to profit immensely. For that I am grateful.

But for me the Bottom line is not Barclays - it's the US Government and it's ability to right the wrong; so when I see Bear Steans, Fannie Mae and all the others....I have all the more reason to have faith.

The Faith in our Financial Institutions has been severly shaken. I'm not
surprised to see so many, so fearful, even towards the US Gov't. When
I saw the lines at Indymac and heard of the losses they incurred, it was
a wake up call for all who have money in retirement funds. Actions were
taken to stop a possible "Run On The Banks" for goodness sakes. Close
scrutiny is warranted. Out of Control fear, is a big waste of energy.

 

[Guest2]

I just contacted NARFE again about all of this including what occurred with the IFT's and they ask me to send them am email outlining our concerns and thoughts.

I could be just an old fart nearing retirement and figger the Feds screw everything else up, why not this. CB

You should write an Article and sell it to a leading Newspaper/Website.
Entitle it; "What The Government Does Not Want You To Know". Now
thats an article I'd post everywhere !

 

[luv2read]

Steady,

You know the depth of the respect and admiration I have for you, but I don't think you're getting the whole picture. Please see these threads, in this order. This has NOTHING to do with IFT limits, it's all about the security of our funds and WHERE they are being invested. Sure, if Barclays goes belly up the Fed can just print up $350B and dump it back in TSP, then sue Barclays to recover it...what is that going to do to the market, financials, etc....Barclays is NOT a USA firm and doesn't have to play by the same rules. That might even be why there are no surety guarantees in the contract...just "the fund manager can VOLUNTARILY make up the losses OR the government and shareholders can sue..."

http://www.tsptalk.com/mb/showpost.php?p=176167&postcount=1252

http://www.tsptalk.com/mb/showpost.php?p=178281&postcount=1377

http://www.tsptalk.com/mb/showpost.php?p=178284&postcount=4194

http://www.tsptalk.com/mb/showpost.php?p=178320&postcount=1392

 

[Guest2]

A final thought until tonights O/D Tracker udate;

I used my thread (maybe others did too) as a diversion from what appears
to be a down day in the market. I want to thank each and everyone for
participating and sharing their opinions. Maybe tomorrow, the vibes will
flow to the positive and the market will skyrocket upward.

 

[Steadygain]

Steady,

You know the depth of the respect and admiration I have for you, but I don't think you're getting the whole picture.

The patients I need to see are not available so I've got a few minutes to kill.

Perhaps I'm not getting the whole picture - or I guess it's possible that I'm seeing more of it than most. Of course I understand your concerns with Barclays and the more you uncover the more you have a right to be concerned. But here you need to see them as just a small piece of a much larger puzzle - and what you are seeing is largely representative of the much larger picture.

From my perspective Barclays is just a small (insignificant) piece of the overall puzzle. I do not see the US Financial Sector and Barclays (or the European Financial Sector itself) as seperate entities. I see them all interlinked - closely knit - and interacting. In my picture we are operating on a Global Economy, and I simply feel that Barclays is a "victum" to a much larger operation that's gone a muck.

So "we are undergoing a huge correction" at this very moment; and the Global Players are doing everything possible to avoid a collapse, and keep things running fairly smoothly during the process. The United States is the one needing the most adjustments and although the FED has no limits to the money they print - eventually it will be worth less than the paper itself. Fannie Mae is way bigger than Barclays - and we are barely starting the process of getting that turned around.

I guess what I'm saying is sometimes Ignorance is a Blessing; and there is probably way more comfort in not digging too deeply. Now is probably the worse time possible to really dig deep into Barclays or almost any other Bank.

Give it time - and let it play out - and this time we'll recover (as will Barclays). Fannie Mae will be stronger than ever (and a much better part of our economy) - but the bolts are just now falling in place and only at this moment are the nuts being tightened.

CB - most of my recent efforts have been directed towards unveiling the pitfalls of the Federal System; and it's very disheartening. I guess each of us has something that drives us - something to discover - and if I knew what you did I'd probably be more scared.

SB - I love you; thanks for being exactly who and what you are.

OK - now I've got to head back to the hospital. Later ya'll

 

[luv2read]

oh ...one additional article in relation to the drastic June change in I fund method (note the date of 6/19/08) - I am not referring to IFT's, but to the daily valuation method that SB analyzes here in his thread:

http://www.tsptalk.com/mb/showpost.php?p=168574&postcount=2

here are the other links already posted below:

http://www.tsptalk.com/mb/showpost.p...postcount=1252

http://www.tsptalk.com/mb/showpost.p...postcount=1377

http://www.tsptalk.com/mb/showpost.p...postcount=4194

http://www.tsptalk.com/mb/showpost.p...postcount=1392

IMO our TSP is being invested partly in hedge funds rather than index funds and is at risk. The timing (6/19-25) of the change in valuation methods with these events is just "too coincidental." This is just my opinion; draw your own conclusions. I'm not being negative or trying to point a finger at someone/something responsible for the state of the financial system right now...that's not MY concern...my concern is MY retirement. I'm just trying to find the truth about what is being done with MY money...my future.

 

[Braveheart]

I have more information on Barclays and the FRTIB & Congress are supposed to be looking out for our best interests and if they are then break ties with Barclays immediately since there is no accountability and bring our Funds back to the USA.

They are using our funds and taking our money (SKIMMING) every day that is why they wanted to limit the IFT's.

There was a question recently as to why the F Fund seemed to get a better deal for the money vs. the G, C, S and I. .....Barclays is heavily invested in the 10 year note. I know I posted that on the F Fund thread a long time back and which fund would Barclays want to see gain the most - F Fund. Which funds can they screw us with all of them including the G Fund.

The reason why the FRTIB split the G Fund into daily payments was not for us because we know they don't give a *hit about you or me it was for Barclays. Keep most in the G Fund while Barclays gets the F Fund profits and skims the Funds C S and I Funds. They have robbed us of Billions and no one cares where is the punk who stopped the IFT's now. They shoud all be in jail !!


HERE IS MY OLD POST WITH LINK dated 5/5/08

05-05-2008, 12:20 PM
Braveheart
Team TSP
Join Date: Feb 2008
Location: New York
Posts: 502

Re: F Fund where will it go ?
Quote:
Originally Posted by Braveheart
BARCLAYS IS PUSHING YIELDS UP ON 10 YEAR NOTE ----- That is why the F Fund is all over the place. What a friggin conflict of interest they know how much we have in the F Fund and all the L Funds, WTF that is gambling against us and inside trading at it's best.


http://www.bloomberg.com/apps/news?p...d=aNCksVzJxRZA

Dealers Pare Treasuries, Signaling Fed Turning Point (Update1)

By Daniel Kruger
May 5 (Bloomberg) -- One word popped into Charles Comiskey's head as he watched investors seeking a haven from credit-market losses pile into Treasuries in March: ``Ridiculous.''
The buying spree pushed yields to a five-year low even though rising commodity prices and a depreciating dollar were beginning to spark inflation. The co-head of Treasury trading at HSBC Securities USA Inc. has so far been proven right. U.S. government debt has lost 2.8 percent since March 17, including reinvested interest, according to New York-based Merrill Lynch & Co. indexes.
``Rates got ridiculous,'' said Comiskey, who is based in New York and started trading in 1989.
The U.S. units of London-based HSBC Holdings Plc, Barclays Plc of London, Deutsche Bank AG in Frankfurt and the other 17 primary dealers that trade with the Federal Reserve have compiled a $101.4 billion bet against Treasuries, data compiled by the central bank show. That's the most since the week ended Nov. 14, just before yields on 10-year notes climbed half a percentage point over the following month.
Dealers have used any demand ``as an opportunity to move Treasuries off their balance sheets,'' Comiskey said.
The $101.4 billion represents the amount of Treasuries that dealers are using to hedge other positions and is up from $58.3 billion in the week ended March 12, Fed data show. The more they use to hedge, the bigger the wager against Treasuries.

Barclays is betting huge against the 10 year note since April 2008 on Bloomberg. They are gambling big with junk bonds and pushing the yield up on the 10 year note.

Since they are connected with our money all the L Funds and the F Fund that is a direct conflict of interest. They know how many Billions are in the L Funds and the F Fund every day. I will update with a link but that news just broke 10 minutes ago.
__________________
Keep me true to my best self, guarding me against dishonesty in purpose. Semper Fidelis

 

[luv2read]

and one more from today on BlackRock:

•BlackRock Seeking $3 Billion for Second Fund to Buy Discounted Bank Loans

Hmmm...why not buy those bad loans from Fannie and Freddie and put that $30B we gave them to manage JPM's buyout of BSC right back into the Treasury?

If you read the thread below about the new Dubai hedge funds....BlackRock, Osprie, Barclays...

All of this may bode well for the financials 18 months-2 years from now. BUT, it's not fixing a broken system and it's not putting any controls in place to prevent churning the same bad paper into new "imaginative and creative" investment derivatives like those that got us in this mess in the first place and that could collapse as soon as they have covered their losses, reaped the profits to be had and blown town.

 

[Braveheart]

and one more from today on BlackRock:

•BlackRock Seeking $3 Billion for Second Fund to Buy Discounted Bank Loans

Hmmm...why not buy those bad loans from Fannie and Freddie and put that $30B we gave them to manage JPM's buyout of BSC right back into the Treasury?

If you read the thread below about the new Dubai hedge funds....BlackRock, Osprie, Barclays...

All of this may bode well for the financials 18 months-2 years from now. BUT, it's not fixing a broken system and it's not putting any controls in place to prevent churning the same bad paper into new "imaginative and creative" investment derivatives like those that got us in this mess in the first place and that could collapse as soon as they have covered their losses, reaped the profits to be had and blown town.

I think there were many hedge funds invested huge in Oil and then there was a huge sell off (PANIC) because they are going under. Gold, Silver etc. were all a huge sell off yesterday. Cashing out ?????

 

[Steadygain]

IMO our TSP is being invested partly in hedge funds rather than index funds and is at risk. The timing (6/19-25) of the change in valuation methods with these events is just "too coincidental." This is just my opinion; draw your own conclusions. I'm not being negative or trying to point a finger at someone/something responsible for the state of the financial system right now...that's not MY concern...my concern is MY retirement. I'm just trying to find the truth about what is being done with MY money...my future.

OK - now we are on the same page and I finally see what you've been saying. Sorry L2R, but please know that most of my discussions with others in terms of the economy deal with the Financial Sector and everything related to it.

Now this is a whole lot different than attacking Barclays "as a Bank" or pointing out their failings.

So far every penny I've invested can be accounted for exactly as I've invested it. So from the TSP.gov site - and occasional checks I know for certain the G,F,C,S,I are exactly as they appear. If they are not as they appear then I hold the Federal Government most accountable. Here I would echo Braveheart - bring the money under our umbrella and deal with it accordingly. We certainly do not need a foreign institution to invest in the 5 TSP Funds (or any combination thereof).

L2R - "if ever a whiz there was" - you are amazing.

OK - Bottom line - we "the collective TSP investors" recognize the huge difficulties Barclays is undergoing and for the sake of our present circumstances and all the more - to safeguard for the future of our retirement - we would respectfully request that the United States Government takes closer control and allows JPMorgan Chase or another American Financial Institution to take control.

See - now that wasn't hard. I just had to know where you're comming from. I'm so use to hearing about Barclays and FRTIB that is automatically goes in the dirty wash without another thought.

SO NOW WE ARE UNITED - I WHOLEHEARTEDLY STAND WITH YOU