His mother

Parents monster

Well I want to say something about the deposit guarantee system that turned out to be an empty balloon under the rule of state embezzlers.

So today is the second day when the Deposit Guaranty Fund should have started its payments to the investors of the bank Mykhailovsky. Acc. to the law “About the Guarantee System” it should take 30 business days from the day the procedure of taking the bank out of the market was initiated (it happened on the 23rd of June).

Though despite the law Mr Vorushilin has not started paying off as of yet. The only excuse is that the fund simply got 0 balances.

There are two reasons for that…

The first one is that bank system ‘cleaners’ (well I prefer the term ‘jobsters’) from the NBU having its quickly-working hands didn’t count their work pace correctly.

They smashed so many banks this way so the Fund always remains in the state of acute liquidity deficit. The deficit is acute to the extent that now the Fund has to take loans from NBU (e.g. Market of State Foreign Currency Denominated Domestic Bonds).

The second reason lays in the conflict between Mrs Gontareva and Mr Vorushilin. When we look on the surface of the conflict we may find a struggle for the control over the smashed banks’ assets. Their nominal value was estimated as 400-500 billion UAH. But if we look deeper we will find Vorushilin’s hidden attempts to warm a place for Mrs Gontareva at NBU.

Well the essence is just the same.

When it comes to Vorushilin, the responsibility for his assets sales schemes is born by Andrey Kyiak.

Gontareva wanted to lay it upon her protégéYuliya Bereshchenko instead Kyiak. She didn’t manage to do that though.

As a result of this internecine war a monster in the face of Consolidated Sales Department came to life. Mrs Bereshchenko was chosen as its head. So now if Voroshilin and the Co. decide to sell something they will have to agree the audit value with her. And it is almost in all cases doomed to fail.

As an outcome penny assets are being sold. Obviously, their amount is not enough to cover the cash deficit of the Fund. Just look one more year will pass and there will be 10 % of leftovers from 400-500 billion UAH to the most.

It means that the money of the investors, who deposited to the banks smashed by the NBU and embezzled by the Fund, will have to be given back. By us ourselves. Out of the taxes we pay.

You can see here a clear picture of this high qualitative assets management of the problematic banks and the guarantees of money returns to the investors.

P.S.: Investors of the bank Mykhailovsky are gathering a meeting at the Deposit Guaranty Fund on Tuesday. They will start from there and go to NBU and the Administration of the President.

Support them if you can.

 

 

 

Alexander Dubinsky

Original: https://www.facebook.com/dubinskyi?fref=nf

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