<< <i>So the war was not so much to steal their oil (though that was a serious bonus!) >>
Did we steal any oil? I'm not aware of the US seizing any Iraqi oil fields.
But I agree with everything else you wrote. >>
I'm sorry, it was a slip of the tongue (keyboard) or a disregard for semantics....I suppose "requisitioned" or "secured" or "gained control of" would be more apt. In any case, the people who were in charge for decades are gone, so the effect is similar, in my opinion.
.....GOD
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
The US public was told that Iraqi oil would help pay for the liberation of the Iraqi people. To date, there is no evidence that Iraqi oil has helped hold down the price of oil anywhere and especially not in the US.
Q: Are You Printing Money? Bernanke: Not Literally
"The US public was told that Iraqi oil would help pay for the liberation of the Iraqi people. To date, there is no evidence that Iraqi oil has helped hold down the price of oil anywhere and especially not in the US."
That was the plan, as I recall, to use the Iraqi oil to rebuild the infrastructure that was both damaged by the invasion as well as to develop the underserved areas that had suffered under the dictator regime. This strategy included upgrading and modernizing the oil fields, wells, and distribution system so that there could more efficiency in the delivery of the oil to port facilities and transportation hubs. It was a good idea because it would fund the new government, improve the countrys transportation, defense, police, education, health and sanitation services and provide a steady source of national income to maintain the system once constructed. Of course, we were going to be the favored oil trading partner so it was all good...in plan. Unfortunately, all that news was mostly just for public consumption and had nothing to do with what actually happened.
Now, with the Wikileaks information, some must certainly realize that what we are offered as news and information by the public media and what is actually going down are not related.
During the financial crisis from March 2008 to May 2009 the FED made overnight loans to major banks to the tune of $9 TRILLION. This data just now coming to light. The banks in the worst shape received up to $2 TRILLION. Makes TARP look like an interest payment. Supposedly these banks had the collateral to justify these loans and it has all since been paid back with interest. Yeah, and I own the Brooklyn Bridge. I don't see how the banks that went under and received $1-$2 TRILL could have legitimately paid off their loans, other than by marking all of their assets to model. Where did the FED get $9 TRILLION to loan? Where did it even get $2 TRILL to loan to Lehman Brothers? And Lehman paid that back?
With all those trillions to play with how much went into shorting the metals during the summer and fall of 2008 as PM's received their biggest spanking in years?
interesting discussion on Glenn Beck today...David Buckner was on....it's what happens when you have a long drive and XM radio
well, i kinda get the whole domino effect thing with Greece and how Europe's "austerity" moves are years ahead of the USA and lead to a quicker recovery.
they won't let tiny Greece "fail", so Caulifornia, NJ, NY and IL will be "bailed" out if need be too.
What I'm really surprised to learn from that Mark Dice video is how many Californians don't even have $5 on them. How would a non-expert know that this wasn't a lead or tungsten counterfeit worth basically nothing? A better test would have been with a 1 oz. AGE. And if someone had really wanted to buy that coin for $50 would it have been edited out of the video? For $50 I'd have probably taken my chances that it was real since I'd still make money even if I was wrong 20X but got it right on the 21st try.
When the FED recently released their loan data from 2008-2009 Ford Credit came up the biggest with govt loans. While technically Ford Motor Company didn't take the bailout as they claim through the media, their credit arm certainly did. They all did. I guess things really did come within a hair of completely falling apart.
It was the credit arms of the automakers that caused all the problems, not the automotive side. This was the problem throughout industry where investment banks, automakers, real estate companies, etc. became leveraged credit lenders (ie banks) and left their core businesses to wither.
When the FED recently released their loan data from 2008-2009 Ford Credit came up the biggest with govt loans. While technically Ford Motor Company didn't take the bailout as they claim through the media, their credit arm certainly did. They all did. I guess things really did come within a hair of completely falling apart.
roadrunner >>
How nice, along with bmw, hyundai, toyota etc etc etc.
This place is so far fking gone it isn't funny.
Any decent human being would be ashamed and outraged at what this government has done over the decades and it's accelerating. How many will die next to support this regime.
"When the FED recently released their loan data from 2008-2009 Ford Credit came up the biggest with govt loans. While technically Ford Motor Company didn't take the bailout as they claim through the media, their credit arm certainly did."
It was widely reported that Ford did not take the bail outs. It worked, their stock rose steadily from $2. Amazing that it was all just a play for the mullets buks...be careful out there.
Did you all get your tin of popcorn from Apmex? Which prize did you get under the carmel corn? The silver eagle, the 1/20th Panda or the 1/10th ounce gold eagle? TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
<< <i>Did you all get your tin of popcorn from Apmex? Which prize did you get under the carmel corn? The silver eagle, the 1/20th Panda or the 1/10th ounce gold eagle? TD >>
<< <i>Did you all get your tin of popcorn from Apmex? Which prize did you get under the carmel corn? The silver eagle, the 1/20th Panda or the 1/10th ounce gold eagle? TD >>
I gotta confess.
I checked. >>
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
I worthwhile article on how we have debt deflation yet monetary inflation. The author sums of the few options left to the Ben Bernank. One on line poster tries to shoot a hole in this analysis by stating that you can only have price inflation with rising wages. I guess that person didn't experience the 1970's where effective wages dropped, and commodity prices soared. In fact average real wages have been dropping since 1973. That's why many families have 2 bread winners today.
RR - regarding "That's why many families have 2 bread winners today." -- I don't disagree with this statement, but it may also be that because many families have 2 breadwinners, the labor pool is larger, and incomes are depressed.
Ron Paul Will Be Monetary Chairman December 9, 2010 08:36 AM Ron was pretty much a shoo-in when Paul-friendly Spencer Bacchus of Alabama got the full committee shairmanship (which out to be Ron’s by seniority, btw), but it is good to know that Spence has now told Ron that he will be finally be chairman of the monetary policy subcommittee, after being denied it three times by Republicans like Gingrich. This appointment is happening despite the lobbying against Ron by three big banks.
and it will only widen for at least two-three maybe up to eight years. part of it will be a stranglehold China has over us, the other is our unwillingness to take individual responsibility for our "pursuit of happiness"
we are truly being lead to believe that "freedom" and "entitlement" are synonyms.
Ron Paul Will Be Monetary Chairman December 9, 2010 08:36 AM Ron was pretty much a shoo-in when Paul-friendly Spencer Bacchus of Alabama got the full committee shairmanship (which out to be Ron’s by seniority, btw), but it is good to know that Spence has now told Ron that he will be finally be chairman of the monetary policy subcommittee, after being denied it three times by Republicans like Gingrich. This appointment is happening despite the lobbying against Ron by three big banks. Ron Paul will be Monetary Charirman
During the financial crisis from March 2008 to May 2009 the FED made overnight loans to major banks to the tune of $9 TRILLION. This data just now coming to light. The banks in the worst shape received up to $2 TRILLION. Makes TARP look like an interest payment. Supposedly these banks had the collateral to justify these loans and it has all since been paid back with interest. Yeah, and I own the Brooklyn Bridge. I don't see how the banks that went under and received $1-$2 TRILL could have legitimately paid off their loans, other than by marking all of their assets to model. Where did the FED get $9 TRILLION to loan? Where did it even get $2 TRILL to loan to Lehman Brothers? And Lehman paid that back?
With all those trillions to play with how much went into shorting the metals during the summer and fall of 2008 as PM's received their biggest spanking in years?
roadrunner >>
To further on this as I hadnt seen it posted elsewhere, Foreign Central banks were heavy borrowers. In a crisis the world again turned to the USA to bail them out. And one wonders why the US dollar is THE reserve currency.
<To further on this as I hadnt seen it posted elsewhere, Foreign Central banks were heavy borrowers. In a crisis the world again turned to the USA to bail them out. And one wonders why the US dollar is THE reserve currency>
Perhaps for three reasons
1) We got the world into this mess and ignited the fuse. Therefore, the world turned to us to clean up our mess
2) Perhaps it's the world currency because there is so much of it
3) Perhaps there is isn't a viable alternative just yet. That will change in due time or quicker if we don't get our act together and quit kicking the can down the road. The world grows impatient with us.
We grow less important on the world stage everyday. It is what it is.............MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i><To further on this as I hadnt seen it posted elsewhere, Foreign Central banks were heavy borrowers. In a crisis the world again turned to the USA to bail them out. And one wonders why the US dollar is THE reserve currency>
Perhaps for three reasons
1) We got the world into this mess and ignited the fuse. Therefore, the world turned to us to clean up our mess
2) Perhaps it's the world currency because there is so much of it
3) Perhaps there is isn't a viable alternative just yet. That will change in due time or quicker if we don't get our act together and quit kicking the can down the road. The world grows impatient with us.
We grow less important on the world stage everyday. It is what it is.............MJ >>
And that is the natural order. But im still waiting for someone else to step forward and defend the world.
BTW---The Swiss Govt was incapable of bailing out their banks as UBS and CS were(are) larger than the country itself.
All banks are inherently corrupt. The Chinese banks perhaps more corrupt then ours. We control the seas however it comes at a great price. As barbaric as it is gold seems to be the logical world reserve currency. Or at least part of a hybrid resereve currency that would be a mix of the UDX/dollar, yuan and gold. China will not tolerate the dollar being the defacto default reserve currency forever. Our many guns can only take us so far...................MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Paper Money based only on "Full Faith and Credit ".
Paper PMs
That pretty much leaves just me the individual. I have to trust me, cause there is ' no one else left to trust except the" Person in Charge" Waaaay upstairs.
So if the U.S fails as the world's policeman, who will step in to take our place. China? Better hope the U.S. doesn't fail but we can't continue to be the world's policeman. All countries need to contibute more to the defense of the world and not put that burden soley on the shoulders of the U.S. It is unsustainable. The U.N. is not enough.
The world turned to the US for bailouts and help because it was the creator for the majority of the otc derivatives that ignited the financial mess. It's only fitting to expect those that caused the mess to clean it up.
<< <i>The world turned to the US for bailouts and help because it was the creator for the majority of the otc derivatives that ignited the financial mess. It's only fitting to expect those that caused the mess to clean it up.
roadrunner >>
The U.S. *government* helped create the mess, but the U.S. *people* are forced to pay to clean it up?
And under the direction of the *government* that helped create the mess in the first place?
The people always end up paying for the govt's mistakes. The only other option is to vote your elected officials out. Unfortunately we don't get to vote for the FED chairman/governors or Secretary of the Treasury.
It comes out 6 months late but the above link takes you to the OCC's summary. Under each table is a link labeled "US OOC" if you want to see all the chart detail without searching the OOC's website directly. Interesting to note that otc derivatives continue to pile up even in the wake of the 2008 financial crisis. Now $223 TRILL held by US Commerical banks and $295 TRILL held by US Bank holding companies. Most of that difference is due to Morgan Stanley and BoA who bring another $64 TRILL or so to the table. As Kirby notes those extra $70 TRILL in otc derivatives are quite opaque.
The founding fathers were 100% correct about gold & silver, just as Jefferson was 100% correct about central banks. How do we begin to fix it before it's too late? Ron Paul knows how to start fixing it.
The trillions of debt are basically chains on us that we didn't put there, and were hypothetical creations of the banks to give the illusion that somebody owes them for something that they didn't provide.
If this were high school, it would all be an exercise in theory, but this isn't high school and this isn't an exercise in theory - it's going to affect every one of us.
Q: Are You Printing Money? Bernanke: Not Literally
The USA and Russia were once said to have enough hydrogen armament to destroy one another a hundred times over. $30,000,000,000,000.00 still seems like a lot of money to me.
There are still a great number of nuclear weapons in the world and they are in an in- creasing number of hands. We can't put that genie back in the bottle but we could get rid of all derivitives and make all computer trading illegal.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
Comments
32 MONTHS without making a payment and still living there
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>So the war was not so much to steal their oil (though that was a serious bonus!) >>
Did we steal any oil? I'm not aware of the US seizing any Iraqi oil fields.
But I agree with everything else you wrote.
<< <i>
<< <i>So the war was not so much to steal their oil (though that was a serious bonus!) >>
Did we steal any oil? I'm not aware of the US seizing any Iraqi oil fields.
But I agree with everything else you wrote. >>
I'm sorry, it was a slip of the tongue (keyboard) or a disregard for semantics....I suppose "requisitioned" or "secured" or "gained control of" would be more apt. In any case, the people who were in charge for decades are gone, so the effect is similar, in my opinion.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
I knew it would happen.
"The US public was told that Iraqi oil would help pay for the liberation of the Iraqi people. To date, there is no evidence that Iraqi oil has helped hold down the price of oil anywhere and especially not in the US."
That was the plan, as I recall, to use the Iraqi oil to rebuild the infrastructure that was both damaged by the invasion as well as to develop the underserved areas that had suffered under the dictator regime. This strategy included upgrading and modernizing the oil fields, wells, and distribution system so that there could more efficiency in the delivery of the oil to port facilities and transportation hubs. It was a good idea because it would fund the new government, improve the countrys transportation, defense, police, education, health and sanitation services and provide a steady source of national income to maintain the system once constructed. Of course, we were going to be the favored oil trading partner so it was all good...in plan. Unfortunately, all that news was mostly just for public consumption and had nothing to do with what actually happened.
Now, with the Wikileaks information, some must certainly realize that what we are offered as news and information by the public media and what is actually going down are not related.
During the financial crisis from March 2008 to May 2009 the FED made overnight loans to major banks to the tune of $9 TRILLION. This data just now coming to light. The banks in the worst shape received up to $2 TRILLION. Makes TARP look like an interest payment. Supposedly these banks had the collateral to justify these loans and it has all since been paid back with interest. Yeah, and I own the Brooklyn Bridge. I don't see how the banks that went under and received $1-$2 TRILL could have legitimately paid off their loans, other than by marking all of their assets to model. Where did the FED get $9 TRILLION to loan? Where did it even get $2 TRILL to loan to Lehman Brothers? And Lehman paid that back?
With all those trillions to play with how much went into shorting the metals during the summer and fall of 2008 as PM's received their biggest spanking in years?
roadrunner
-----> Just another indication that -----> Everything is not as it seems.
I knew it would happen.
video on why people don't buy PM's...not as funny as the QE Ben Bernank, but not bad
JPM sued today for $6 BILL by the those trying to recover Madoff dollars.
roadrunner
well, i kinda get the whole domino effect thing with Greece and how Europe's "austerity" moves are years ahead of the USA and lead to a quicker recovery.
they won't let tiny Greece "fail", so Caulifornia, NJ, NY and IL will be "bailed" out if need be too.
Trying to sell an ounce on the street for $50.00
roadrunner
When the FED recently released their loan data from 2008-2009 Ford Credit came up the biggest with govt loans. While technically Ford Motor Company didn't take the bailout as they claim through the media, their credit arm certainly did. They all did. I guess things really did come within a hair of completely falling apart.
It was the credit arms of the automakers that caused all the problems, not the automotive side. This was the problem throughout industry where investment banks, automakers, real estate companies, etc. became leveraged credit lenders (ie banks) and left their core businesses to wither.
roadrunner
believe anyone or anything. Sure I might pass up a deal, along with 100 scams. A
very sad commentary on the times in which we live.
Camelot
<< <i>Where the tens of billions went to the auto industry
When the FED recently released their loan data from 2008-2009 Ford Credit came up the biggest with govt loans. While technically Ford Motor Company didn't take the bailout as they claim through the media, their credit arm certainly did. They all did. I guess things really did come within a hair of completely falling apart.
roadrunner >>
How nice, along with bmw, hyundai, toyota etc etc etc.
This place is so far fking gone it isn't funny.
Any decent human being would be ashamed and outraged at what this government has done over the decades and it's accelerating. How many will die next to support this regime.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Guns and butter.
It was widely reported that Ford did not take the bail outs. It worked, their stock rose steadily from $2. Amazing that it was all just a play for the mullets buks...be careful out there.
top two commentaries today.
Which prize did you get under the carmel corn? The silver eagle, the
1/20th Panda or the 1/10th ounce gold eagle?
TD
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>Did you all get your tin of popcorn from Apmex?
Which prize did you get under the carmel corn? The silver eagle, the
1/20th Panda or the 1/10th ounce gold eagle?
TD >>
I gotta confess.
I checked.
Here's a warning parable for coin collectors...
<< <i>
<< <i>Did you all get your tin of popcorn from Apmex?
Which prize did you get under the carmel corn? The silver eagle, the
1/20th Panda or the 1/10th ounce gold eagle?
TD >>
I gotta confess.
I checked.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Good news, retail sales are up....so are prices.
Brodsky on gold
I worthwhile article on how we have debt deflation yet monetary inflation. The author sums of the few options left to the Ben Bernank. One on line poster tries to shoot a hole in this analysis by stating that you can only have price inflation with rising wages. I guess that person didn't experience the 1970's where effective wages dropped, and commodity prices soared. In fact average real wages have been dropping since 1973. That's why many families have 2 bread winners today.
roadrunner
US Worse than EU
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
December 9, 2010 08:36 AM
Ron was pretty much a shoo-in when Paul-friendly Spencer Bacchus of Alabama got the full committee shairmanship (which out to be Ron’s by seniority, btw), but it is good to know that Spence has now told Ron that he will be finally be chairman of the monetary policy subcommittee, after being denied it three times by Republicans like Gingrich. This appointment is happening despite the lobbying against Ron by three big banks.
Judge Napolitano : Ron Paul Will be Monetary Charirman
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
and it will only widen for at least two-three maybe up to eight years.
part of it will be a stranglehold China has over us, the other is our unwillingness to take individual responsibility for our "pursuit of happiness"
we are truly being lead to believe that "freedom" and "entitlement" are synonyms.
December 9, 2010 08:36 AM
Ron was pretty much a shoo-in when Paul-friendly Spencer Bacchus of Alabama got the full committee shairmanship (which out to be Ron’s by seniority, btw), but it is good to know that Spence has now told Ron that he will be finally be chairman of the monetary policy subcommittee, after being denied it three times by Republicans like Gingrich. This appointment is happening despite the lobbying against Ron by three big banks.
Ron Paul will be Monetary Charirman
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Fed loaned $9 TRILLION to the too-big-to-fail banks during 2008-2009 crisis
During the financial crisis from March 2008 to May 2009 the FED made overnight loans to major banks to the tune of $9 TRILLION. This data just now coming to light. The banks in the worst shape received up to $2 TRILLION. Makes TARP look like an interest payment. Supposedly these banks had the collateral to justify these loans and it has all since been paid back with interest. Yeah, and I own the Brooklyn Bridge. I don't see how the banks that went under and received $1-$2 TRILL could have legitimately paid off their loans, other than by marking all of their assets to model. Where did the FED get $9 TRILLION to loan? Where did it even get $2 TRILL to loan to Lehman Brothers? And Lehman paid that back?
With all those trillions to play with how much went into shorting the metals during the summer and fall of 2008 as PM's received their biggest spanking in years?
roadrunner >>
To further on this as I hadnt seen it posted elsewhere, Foreign Central banks were heavy borrowers. In a crisis the world again turned to the USA to bail them out. And one wonders why the US dollar is THE reserve currency.
Knowledge is the enemy of fear
Perhaps for three reasons
1) We got the world into this mess and ignited the fuse. Therefore, the world turned to us to clean up our mess
2) Perhaps it's the world currency because there is so much of it
3) Perhaps there is isn't a viable alternative just yet. That will change in due time or quicker if we don't get our act together and quit kicking the can down the road. The world grows impatient with us.
We grow less important on the world stage everyday. It is what it is.............MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i><To further on this as I hadnt seen it posted elsewhere, Foreign Central banks were heavy borrowers. In a crisis the world again turned to the USA to bail them out. And one wonders why the US dollar is THE reserve currency>
Perhaps for three reasons
1) We got the world into this mess and ignited the fuse. Therefore, the world turned to us to clean up our mess
2) Perhaps it's the world currency because there is so much of it
3) Perhaps there is isn't a viable alternative just yet. That will change in due time or quicker if we don't get our act together and quit kicking the can down the road. The world grows impatient with us.
We grow less important on the world stage everyday. It is what it is.............MJ >>
And that is the natural order. But im still waiting for someone else to step forward and defend the world.
BTW---The Swiss Govt was incapable of bailing out their banks as UBS and CS were(are) larger than the country itself.
Knowledge is the enemy of fear
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
In reality we are a bunch of PC, whinney, bitc*ing, elitist. We will reap what we sow.
We chart markets all the time for historical data.
Charting history- wars will be a constant- pretty much human nature. JMHO Peace, Tim
Exactly who is this "we"?
My Adolph A. Weinman signature
Government
Financial Institutions
Corporations
Paper Money based only on "Full Faith and Credit ".
Paper PMs
That pretty much leaves just me the individual. I have to trust me, cause there is
'
no one else left to trust except the" Person in Charge" Waaaay upstairs.
Camelot
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Box of 20
roadrunner
<< <i>The world turned to the US for bailouts and help because it was the creator for the majority of the otc derivatives that ignited the financial mess. It's only fitting to expect those that caused the mess to clean it up.
roadrunner >>
The U.S. *government* helped create the mess, but the U.S. *people* are forced to pay to clean it up?
And under the direction of the *government* that helped create the mess in the first place?
My Adolph A. Weinman signature
OOC June 2010 derivatives report - silver numbers don't add up
It comes out 6 months late but the above link takes you to the OCC's summary. Under each table is a link labeled "US OOC" if you want to see all the chart detail without searching the OOC's website directly. Interesting to note that otc derivatives continue to pile up even in the wake of the 2008 financial crisis. Now $223 TRILL held by US Commerical banks and $295 TRILL held by US Bank holding companies. Most of that difference is due to Morgan Stanley and BoA who bring another $64 TRILL or so to the table. As Kirby notes those extra $70 TRILL in otc derivatives are quite opaque.
roadrunner
The trillions of debt are basically chains on us that we didn't put there, and were hypothetical creations of the banks to give the illusion that somebody owes them for something that they didn't provide.
If this were high school, it would all be an exercise in theory, but this isn't high school and this isn't an exercise in theory - it's going to affect every one of us.
I knew it would happen.
more than $65 trillion of such contracts (CDS) have been eliminated by tearing up such overlapping transactions,
Knowledge is the enemy of fear
<< <i>Just as I said would happen....
more than $65 trillion of such contracts (CDS) have been eliminated by tearing up such overlapping transactions, >>
So "they" can just make "their" debt vanish? WTF we have to bail TBTF out then?
<< <i>So "they" can just make "their" debt vanish? WTF we have to bail TBTF out then? >>
Year-end bonuses?
My Adolph A. Weinman signature
<< <i>Just as I said would happen....
more than $65 trillion of such contracts (CDS) have been eliminated by tearing up such overlapping transactions, >>
The USA and Russia were once said to have enough hydrogen armament to destroy
one another a hundred times over. $30,000,000,000,000.00 still seems like a lot of
money to me.
There are still a great number of nuclear weapons in the world and they are in an in-
creasing number of hands. We can't put that genie back in the bottle but we could
get rid of all derivitives and make all computer trading illegal.