Monthly Archives: May 2017

German soldier held over anti-migrant ‘assassination plot’

Arrest on grounds of suspicion of Preparation of a Serious Violent Offence Endangering the State

The GBA today, on the basis of an arrest warrant of the Invesitgative Judge of the Federal Court of Justice from 8th May 2017, ordered the arrest of the 27-year-old German citizen Maximilian T. The order was executed in Kehl by officers of the Federal Criminal Police Office.

The defendant is strongly suspected of preparing a serious violent offence endangering the state (§ 89 a Abs. 1 und Abs. 2 Nr. 2, § 25 Abs. 2 StGB) out of a right-wing extremist ideology and together with the already-arrested Franco A. and Mathias F.

The press office of the GBA will release an explanation to the media today at 14:30.

The arrest warrant lays out the following:

According to investigations, Franco A., Mathias F., and Maximilan T. planned an attack on the life of high-ranking politicians and persons of public interest that are active in a, from the defendant’s POVs, failed/wrong immigration and asylum policy. In particular, the defendants had created a list of possible victims including different categories. Among others it includes former President Joachim Gauck and Minister of Justice and Consumer Protection Heiko Maas. Franco A. was tasked with acting out the attack. For this purpose, he had registered as a Syrian refugee under an alias. Thus, the three defendants wanted to direct suspicion on refugee-applicants in Germany. During the planning, Franco A. received monetary assitance for asylum applicants, which he collected himself. The resulting abstences were covered up by Maximilian T., who excused Franco A. before his superiors. In preparation of the attack, the defendants aquired a pistol by the manufacturer Manufacture d’Armes des Pyrenees Francaise, Model 17, Caliber 7,65 mm Browning, which they first stowed away. In the middle of January, Franco A. took the weapon and stowed it in a disabled people’s toilet at the Vienna Airport where it was found by Austrian Police shortly after. During investigation, Franco A. and Mathias F. were ordered to be arrested by the Frankfurt State Attorney on 26th April 2017. The investigation has since been taken over by the GBA.

The attack by the three defendants was supposed to be viewed by the public as a radical-islamic terror act done by an accepted refugee. Especially concerning the continued public discussion of immigration and asylum politics a suspected terror attack by a registered refugee would have created special outrage and contributed to a general feeling of threat. Recognising this, this case is to be viewed as a crime pertaining to State Security of special importance (§ 120 Abs. 2 Nr. 1, § 74 a Abs. 1 Nr. 2, Abs. 2 GVG)

The defendant will today be brought before the Investigative Judge of the Federal Court of Justice who will explain to him the arrest warrant and decide over a possible investigative custody.

Link to the BBC

Home Capital Group (HCG.TO) – What is next?

Almost everyone is now aware of the Home  Capital Group’s debacle. The alternative mortgage lender, which operates our of Canada, has had its high-interest saving balances reduced from $1.4B to a mere 340 million within less than a week. I have been consuming a lot of articles about the company (see some links below), and it seems to me that this ‘bank run’ is solely due to the loss in confidence over the banks. Currently, as it seems, that the book is ‘healthy’ (as per the media), however, in my opinion (albeit I do not profess to be an expert in calling the timing of the markets), a 33% YoY increase in house prices is sign of a bubble. I imagine Home Capital has originated mortgages in the last year, and some of these mortgages would end up being ‘slayed’ in a down market, say if the market reverts to the price it was in 2016 (which is a 33% decrease!).

The other question is if there will be a bank run on the Canadian banks? Currently the Canadian big-6 banks are well capitalized, however, will this change in market sentiment move the inter-bank rates against the Canadian Banks? (think Greece / Portugal /Spain). We will find that out shortly!

 

Legal Experts question why Home Capital didn’t just write a cheque to mitigate the damages (FP)