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Debt Consolidation

In the internet portal my CosmosDirekt with its unique financial cockpit

Image result for financial cockpit artcustomers can already handle their insurance transactions easily and conveniently on their own. Now Germany’s leading online insurer also supports them in their banking business – with two innovative offers that ensure the highest level of security in online banking: the free app FinanzAssist and the optional FinanzSchutz, an unrivaled policy against all risks in payment transactions.

As Germany’s leading online insurer, CosmosDirekt knows how customers’ financial needs are changing through the Internet. Online banking has become an indispensable part of everyday life for Germans: 71% of Germans are already using their opportunity to do their banking conveniently on their home PC or on the go with their tablet or smartphone. 1 One thing that’s important to users is security. CosmosDirekt consistently complies with this request with the new App FinanzAssist and the optional FinanzSchutz.

“We help people to take their financial security into their own hands. With FinanzAssist and our unique financial protection, we now also support our customers in their banking business “, says Peter Stockhorst, CEO of CosmosDirekt.

Secure online banking – with FinanzAssist

Whether on the PC, on a smartphone or tablet: The free app FinanzAssist offers users an overview of their finances. Not only checking accounts and credit cards, but also depots, savings accounts and savings accounts can be conveniently controlled with the app, transactions such as transfers or standing orders quickly and easily. As a digital household book, the app also presents the user with his receipts or expenses in practical evaluations – also automatically and synchronously on all mobile devices if required. All data is encrypted using the security protocol HTTPS or transferred to secure banking standards. For the high software quality and data security CosmosDirekt received a TÜV test seal. The app is available for the operating systems Android and iOS. By integrating FinanzAssist into the finance cockpit of my CosmosDirekt, customers can view their finances anytime, anywhere and independently manage their banking and insurance transactions online.

Financial protection – the extra security in payment transactions

Additional security – beyond the high technical and organizational standards – is provided by FinanzAssist with the optional financial protection. With this unprecedented policy, customers worldwide are comprehensively protected against financial risks in cashless payment: online and offline. The insurance covers, for example, the misuse of online banking and online shopping, credit and debit cards, direct debits, bank transfer and check cashing and cash withdrawals. FinanzSchutz is also available separately and applies to all existing and future domestic account and card connections of the customer or his co-insured family members.

Thanks to FinanzSchutz, FinanzAssist will become the safest online banking app, as Focus Money has determined in a recent review. 2

Debt Consolidation

10 tips to financially survive the beginning of the school year

The beginning of the school year usually makes a good wind in the parents’ wallet. How to reduce the costs associated with the admissions of puppies to school benches? We have written ten practical and simple tips for you.

Shop in advance or wait
Immediately before and just after the beginning of the school year, traders are pricing up. It is best to buy school bags, pencils, notebooks and other aids either at the beginning of the holidays (which you can not do now) or wait until September’s shopping hysteria disappears and the prices go down.

Compare prices
Fortunately, Internet offers a quick comparison of prices. The same school backpack with Spider-Man will have several e-shops in stock. You only choose the cheapest.

Try online auctions and bazaars

In the Blue Horse or Mimibazar discussion forums, you will find plenty of used and up-to-date school supplies that can help your children and save you money.

Wait for what kids really need

Wait for the kids to come out of school with a list of things really needed. If you buy a large amount of school supplies in advance, it may happen that children need a quarter and they will not need it at all, and you will spend money unnecessarily.

Check with friends who have older children
While the quarterback may be excited about the Batman penalty, the bandman may say that Batman is for the sake and definitely does not want to be embarrassed with him at school. If you have a known someone who has an older schoolboy than yours, ask if he has any similar “embarrassing” school aids that yours would use.

Beware of wannabe packages of school supplies

At first glance, a great offer – a large package of crayons, fixes, blocks, boards and notebooks at a great price. Traders, however, also include similar things in school packages that the schoolgirl will never use, and you will buy them completely unnecessarily.

Make yourself at home for quality
Get your children a good quality school bag that lasts them for several years, rather than a cheaper little bag that falls apart in a couple of months, the kids will hurt her back, and eventually run into the new store.

Do not get bored with children or advertising

As a reasonable adult you have the last word in your choice of school supplies. Do not let your children know that they need exactly this expensive baby slipper because they just do not go to school. Do not let yourself be advertised, but rather buy it for common sense or expert advice.

Textbooks from the antiquarian bookshop

Textbooks may not always be brand new, but you can look at them in stone or internet antiquarian books. If you have used textbooks from last year’s school year, you can try to sell them.

Get 1000 czk discount for school supplies thanks to mBank
Do you need to buy new tools for your schoolchildren and do not want to burden the family budget?? Reach your Plus loan . There is absolutely no entry fee and no early repayment fees. In addition, you can now get a voucher for every $ 100 at the ( You can buy a tablet, a school bag or a scooter for schoolboys for less than a thousand dollars.

Debt Consolidation

Loan Amortization: With what banks does Zaplo work? |

Image result for loan amortization artApplying for a loan with Zaplo is very simple and fast, but there are determining issues that you have to consider before requesting it. One of them is knowing how the loan repayment is carried out in order to know how to repay the borrowed money.

Therefore, below, we explain how the different types of amortization that we offer at Zaplo and what banks or entities we work with work .

Maybe you’re interested in reading | How can I defer the payment of my Zaplo loan?

Ways to amortize the loan

We offer you three different ways to make the refund of your requested credit :

  • Card payment

This reimbursement option is very simple and convenient. Since at the time the credit application is made, a card number is provided and the amount of each installment will be charged therefrom . It is a good way to repay the loan because it is done automatically .

In case you want to make any change or management on this form of payment, you just have to contact the customer service (910 606 622).

  • Customer area

On the website itself, by accessing the Zaplo customer area , it is possible to pay the fee before the established date . This option is also very simple, since it only takes a click to carry out the refund .

  • Transfer or deposit into account

When payment card does not work or want to carry out prematurely, it is possible to make a transfer to our bank or making a deposit account at any collaborating institution account. In both cases, we must not forget to attach to the operation the DNI and the loan number . The beneficiary must be 4Finance Spain Financial Services SAU

Maybe you’re interested in reading | How to request a quick loan with Zaplo?

Entities and return accounts

In this sense, if you choose to return your credit by transfer or deposit account we leave the account numbers of our collaborating entities so you can do it with comfort:

  • Caja España Duero: ES90 -2108-3323-80-0030000047
  • Banco Santander : ES21-0049-6077-46-2116090821
  • Bankia: ES55-2038-1774-3360-0068-7164
  • Unicaja Bank: ES55-2103-1057-93-0030010345
  • Bankinter: ES27-0128-7704-8201-0006-3632
  • ING Direct: ES33-1465-0110-61-1900446328
  • Kutxabank: ES53-2095-0814-10-9115836480

As you can see, amortizing a Zaplo loan is very simple through any of our options offered .

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Debt Consolidation

UBS Machobankers hit Paris in the nose – Inside Paradeplatz

Even NZZ sees the situation in black money process in France skeptical for Switzerland’s number 1 – Arrogant, stupid.

Today Raoul Weil faces the Paris judge. The former head of global asset management at UBS wants to explain what remains inexplicable.

That the UBS client advisors from Switzerland in Paris, Lille, Lyon and wherever else in the neighboring country were only for a chat with their black money customers there.

No sow understands that. Nobody can believe it. Except the UBS bosses Markus Diethelm, the highest legal boss of the financial multinational, and his supervisor, CEO Sergio Ermotti.

Diethelm and Ermotti, the two alpha animals of the UBS Executive Board: they are getting a bloody nose in Paris. This is the longer the more you go out.

If even the NZZ writes more and more of the judge’s doubts, as today , it is a first-rate alarm.

Bildschirmfoto 2018 10 24 um 08 55 23 300x105

“Difficult to understand”: UBS-friendly NZZ orakelt gloomy. (Source: NZZ)

So how could Diethelm and Ermotti maneuver themselves into a dead end? What are their remaining chances to get out of the Paris crisis to some extent? And what does the heavily respected black money process in France mean for the bank as a whole?

Diethelm and Ermotti thought they would be able to blow the march to the Frenchman . Diethelm in particular: Had not he appeased the USA 10 years ago, which had led to a minibus for his bank?

The fact that Diethelm pressed the Federal Council to treason by giving up bank secrecy is another matter.

Bildschirmfoto 2018 10 24 um 09 16 13 300x127

“Treason by the UBS General Counsel”: Commission Report, 30 May 2010

Diethelm considered himself invincible after his US success. Allez hop on on the French.

These are at heart socialists – President Macron or not. And socialists, unlike the US capitalists, do not want a deal. But an ideology. A principle. Atonement and remorse.

Diethelm understands only station. Now he is sitting in the Parisian ink, knows neither on nor off. UBS tries to keep hope alive with a lot of press work. Meanwhile, the harassment of a UBS banker in Beijing for new eruptions .

A drama of the extra class, which the two main protagonists Ermotti and Diethelm perform in Paris. How much it gets on everyone’s nerves is shown by the course. It crashed down yesterday. 13 francs for a UBS share – give me a break.

So if Diethelm and Ermotti rattled into the Parisian trap because of their own macho instincts, they and Switzerland are now wondering what their chances are?

The answer, as of today: bad to miserable. Why?

UBS emphasizes that there was no black money system for rich French people. How she hopes to get away with this version of the story remains closed to any normal.

The reason for this is Raoul Weil. It was the ex-UBS Bigshot who, together with his colleague, the unfortunate Marcel Rohner, launched the initiative “TASTE for BUCKS” *.

With that, Rohner and Weil wanted to conquer the world. In other words, your black money customers in Switzerland should also become top white money customers in their respective countries.

Said and done. An army of UBS client advisors swarmed to Paris, Rome, Madrid, Brussels, Frankfurt to secretly meet rich tax evaders with groomed laptops .

James Bond banking in the noughties. In France, the UBS “key” for big money was particularly strong. There, the black money consultants of UBS Switzerland handed over their French tax evaders to the white money advisors of UBS France.

So at least the charge of the Paris penalty inter mediaries. They support this, above all, on a document they call “Milchbüchlein”. Carnet du lait.

Such a booklet is in the possession of the UBS-Häscher. It shows how much bonus was credited to the Swiss offshore consultants through such introductions of black money customers to their colleagues in France.

By bonus is meant here how many assets – cashes, securities – a wealthy French tax refugee lands at the UBS in France thanks to the mediation of the Zurich, Basel or Geneva UBS advisor. There was also the opposite way.

This internal clearing was important. She rewarded the Swiss offshore consultants when they introduced their black money customers to their Paris colleagues.

Conversely, the whole thing was also good for the UBS Paris advisers. They suddenly had more customer assets and were able to show that they were on the upswing with their UBS France.

In short: a system. Everyone in the bank knew it. Everyone joined in. Those who resisted did not lose anything in the country’s No. 1 offshore banking.

Today UBS leaders Diethelm and Ermotti want to explain that this is a big misunderstanding. It goes to the milk booklet to ATA, tendered Asset Transfer Agreement: a quarterly Excel file that would show net, which would be credited to the respective customer advisors to postponed customer assets. Quite legal, completely normal.

Sounds good. Only: Why then were lists of such credits created and later destroyed? The French have received a copy of such a list from an ex-UBS employee. All other lists have disappeared.

Why are the lists no longer there if they are unproblematic? If only they should be an expression of a completely correct Excel file?

That makes no sense. But Diethelm and Ermotti stick to their version. They team up in this way with Raoul Weil, a man from gray black money time. They even pay him the whole process. Is not her money.

Completely unnecessarily, Diethelm and Ermotti have combined their “new”, “clean” UBS with the “old”, “dirty” – by deciding to go to court in Paris.

The alternative would have been a payment of 1 billion euros. Now threaten 5.

Should Ermotti-Diethelm win in the end, when the judge gives them the right or at least the guilt of UBS does not see proven, the UBS bosses would be there as big winners. But that they rose naked to the Himalayas, even then remains fact.

* TASTE for BUCKS stands for: Trust, Advice, Service, Team, Emotions; “Big Shift”, “Using Best Practice”, “Client Centered Offering”, “Key Clients”, “Strive for Growth”.

Debt Consolidation

Eurobank to merge with Prem Watsa's Grivalia Properties to resolve NPLs – ΤΑ ΝΕΑ

Image result for eurobankEurobank to merge with Prem Watsa’s Grivalia Properties to resolve NPLs

Eurobank is trying to craft its own solution to the looming problem, while the Greek government is focused on a national approach to expediting the resolution of NPLs.

After having lost hundreds of millions of euros betting on the rebound of Greek banks, Prem Watsa continues to believe in the recovery of banks.

He has said he has lost 600mn euros since 2014.

Watsa, who in 1985 founded and remains Chairman and Chief Executive Officer of Fairfax Financial, is now backing the merger of Eurobank Ergasias SA with Grivalia Properties REIC.

Since last year, Eurobank has lost 31 of its value, and there has been a decline as well for Grivalia, in which Watsa has a 51 percent stake.

With a 33 percent stake, Watsa will be the main shareholder in the new Eurobank-Grivalia endeavour.
“We’re long term. We bought shares when they recapitalized. We’re putting in more money through Grivalia. We think this is a very good bank,” Watsa told Bloomberg.

The objective of the deal is to reduce Eurobank’s non-performing loans (NPLs) from 39 percent to 15 percent.
Eurobank is trying to craft its own solution to the looming problem, while the Greek government is focused on a national approach to expediting the resolution of NPLs.

Watsa said that once Eurobank”s NPL problem is resolved, “You’ll have a very well capitalised bank in a very good position to serve the Greek clients as well as the Greek economy.”

Watsa’s 2014 investment in Eurobank virtually evaporated after the Tsipras government reached the verge of a rupture of ties with lenders and the EU more generally, and Grexit was said to be a real prospect.

“What Greece has gone through was a unique situation. When a country goes through a 25 percent drop in GDP, it’s very difficult for any bank to do well. It needs to be recapitalised, it needs more money to come in. But that’s history now,” Watsa told Bloomberg.


Debt Consolidation

Monetary Freedom: free banking

Image result for <a  href=''>free banking</a>” width=”221″ height=”333″ />Free Banking, Micro and Macro</h3>
<p>Free banking has both microeconomic and macroeconomic aspects.</p>
<p>“Micro” free banking is only loosely related to whatever fundamental nominal anchor exists for the monetary system and monetary policy. Those are the questions that are central to “macro” free banking.</p>
<p>Reforms related to “micro” free banking include the private issue of hand-to-hand currency and token coins, ending reserve requirements, ending restrictions on branching, ending capital requirements, ending government deposit insurance, privatized interbank clearing operations and perhaps more. “Micro” free banking is <a  href=''>about deregulation</a> of the banking system. The key idea is that banks should be subject to the general rules regarding freedom of contract. The only “regulation” appropriate to banking would be closely tied to the general prohibition of fraud.</p>
<p>As a rough rule of thumb, each possible reform stands alone. Banks issuing hand-to-hand currency could be subject to reserve or capital requirements. Reserve requirements could go, while capital requirements and the existing ban on banknotes remain. Deposit insurance could be expanded to apply to bank-issued currency or discontinued from some or all deposits.</p>
<p>Of course, there are interactions among regulations. For example, ending capital requirements while keeping government deposit insurance would be very dangerous–especially to the deposit insurer, and so, the taxpayers.</p>
<p>These “micro” reforms are consistent with bank-issued money, both currency and deposits, being denominated in the official unit of account. In the U.S., that is “the dollar.” Further, they are consistent with bank-issued money, again, both currency and deposits, being redeemable in dollar-denominated base money. The monetary authority, perhaps organized as a central bank like the Federal Reserve, could still implement a monetary policy. In particular, the Fed could target the federal funds rate and aim to achieve a 2% inflation rate for the CPI starting from where ever the CPI happens to be.</p>
<p>There are two basic categories of “macro” free banking. The Hayek version was outlined in his “Denationalization of Money.” Banks issue monetary instruments, both currency and deposits, denominated in unique units. In other words, various banks simultaneously introduce new units of account and hand-to-hand currency and deposits denominated in those units. Hayek assumed, reasonably enough, that each bank would manipulate its issue of monetary instruments to maintain their purchasing power. Households and firms would then choose between monies and units of account based upon whatever criterion they want, though Hayek assumed that monies of stable purchasing power would dominate. While there is a sort of monetary policy under this scheme, these are really monetary policies developed by a variety of different banks. There is no “central bank” providing overall guidance, and so this is a type of “macro” free banking.</p>
<p>The alternative version of free banking, what I call the “Mises” version, is based upon a common unit of account. Rather than the dollar being defined as a unit of money whose value can be manipulated by the monetary authority, it is defined in some other way. The obvious approach, and the one assumed by Mises, is that the dollar is defined as a fixed weight of some commodity, like gold. The nominal anchor of the monetary system, then, would be the fixed dollar price of gold. The assumption is that the various banks denominate their deposits and currencies in dollars and tie them to gold, or whatever commodity is used, by redemption. While there is a sort of “monetary policy” in the system, it is really just a market process that results from the interactions of the banks as well as the supply and demand for gold. Because there is no central bank providing guidance to the system, the result is “macro” free banking.</p>
<p>George Selgin’s Theory of Free Banking described a version of “macro” free banking that is a bit unusual. He described the operation of a free banking system where each bank issues dollar-denominated monetary instruments and all of them are redeemable with government-issued base money. However, the quantity of base money is fixed once and for all. This is “macro” free banking because there is no central bank providing overall guidance to the monetary order. It fits into the “Mises” version because the assumption is that there is a common unit of account and that banks tie their monetary instruments to that unit of account by redeemability.</p>
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Greenfield and Yeager’s “Black-Fama-Hall” payments system is a version of “macro” free banking that is also of the “Mises” variety. There is a common unit of account, like the dollar, but rather than being defined in terms of a single good, like gold, it is defined in terms of a broad bundle of goods. The sum of the dollar prices of the items in the bundle must equal the defined dollar value of the whole bundle, but the dollar price of each good in the bundle is free to vary with supply and demand. Rather than being tied to the bundle-defined unit of account by redemption in all of the various items in the bundle, the dollar-denominated currency and deposits issued by banks are redeemable in terms of some redemption medium, perhaps gold, equal in current market value to the total value of the bundle. The price of the redemption medium varies with supply and demand. This fits into the “Mises” version of macro free banking because there is a common unit of account and the banks tie their money to it by a type of redeemability. There is no central bank providing overall guidance. Any monetary policy is generated by the interactions of the banks operating under the system.

Because of problems with the operation of the BFH system, which I call “the paradox of indirect convertibility,” some of those who found the system appealing, chiefly Kevin Dowd (and me,) began to favor a modified system that I call index futures convertibility. Again, the system assumes a common unit of account, like the dollar, with banks issuing dollar-denominated currency and deposits. There is a system of redeemability with index futures contracts that ties each bank’s currency and deposits to the common unit of account. This approach to free banking was developed on the assumption that index futures contacts would be on a price index defined on some bundle of goods. However, the system can be modified to stabilize just about anything, including a growth path for a measure of nominal expenditure. There is a sort of monetary policy, though it really just the outcome of the interaction of the banks and speculators in futures contracts. Because there is no central bank providing overall guidance, it is a version “macro” free banking and of the Mises type.

I think it is important to distinguish between “micro” and “macro” free banking, and among the “macro” free banking systems, between the Hayek and Mises types. Of course, there is a broad variety of “macro” free banking systems of the “Mises” type too. Oddly enough, the Rothbardians associated with the Mises Insitute favor a Mises version of macro “free banking.” a gold standard, while simultaneously favoring a draconian “micro” regulation of the banking system, a 100 percent reserve requirement.

What do I think? As for “micro” reforms, I think reserve requirements are at best pointless and often harmful and should be dispensed with immediately. I also favor the immediate repeal of the ban on private banknotes. I favor allowing banks to issue dollar-denominated currency and token coins on the same terms as transactions deposits. We will then see if banks can induce their customers to use them, though I expect there would be little problem. If private banknotes and token coins are successful, I would favor withdrawing all government currency, like Federal Reserve notes and coins from the U.S. Mint, from circulation.

I don’t favor abolishing deposit insurance overnight, and capital regulations are the least bad means of controlling the moral hazard created by deposit insurance. Careful and gradual reform aimed at weaning the banking system from government deposit insurance, while freeing banks from capital requirements is an appropriate long term goal.

I think the Hayek type of free banking should be permitted immediately. If some bank wants to offer deposits or currency in its own unique units, then they should be permitted to do so. Similarly, banks should be able to issue deposits or currency denominated in gold or silver. We will then see if they can induce their customers to switch to a new unit of account. I doubt it that much will come of it and that banks will continue to issue dollar-denominated monetary instruments redeemable into base money.

As for “Mises” version of free banking, I am skeptical of a gold or silver standard or a frozen quantity of base money. I don’t believe all the bugs have been worked out of index futures redeemability, but I think that is the right approach for “macro” free banking. In the meantime, I favor having the Federal Reserve target a slow and steady growth path for nominal expenditures. Imposing index futures convertibility on the Fed is a possible first step towards “macro” free banking.