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Hiding bank losses

derrybderryb Posts: 36,980 ✭✭✭✭✭
in Precious Metals
Why we will have Japan's two lost decades

William Black Hits the Nail on the Head

The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

Comments

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    In the case of the failed bank assets that the FDIC has guaranteed or shared with the acquiring banks have no doubt been over-valued. At some point in time the piper has to be paid on those losses as well. Just because the shuttered banks got processed through the FDIC doesn't mean all the losses have been accounted for. Those failed banks assets will come back to haunt J6P who ultimately is the guarantor of those products.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    RR, why is it ALWAY's J6P?image
    Avid collector of GSA's.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It's our (J6P) nation and we as a group are ultimately responsible for the debt because we elected the officials that got us to this point. Simple as that.

    The votes from the PTB are not plentiful enough to elect anyone on their own though they have found a means through the media to control which candidates become electable. And invariably there are zero differences between the major party choices. J6P could start to reverse this process if they really desired.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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