"So a bank which has €54.7 trillion, or a little over $62 trillion at today's exchange rate, in derivatives - a number that is 20 times greater than the GDP of Germany - just failed a central bank stress test due to lacking governance and risk management controls and, just maybe, has insufficient capital? What can possibly go wrong." >>
I read somewhere where we can just net all these derivatives out at any time and all will be well. No harm, no foul. It's back to 1999 in a snap.
Didn't know the FED got involved with stress testing ECB banks. But probably all of these so-called stress tests are easier to pass than they should be. Why even do stress tests if all these derivatives can just be netted out anytime we want? The FED has our back, right?
Dollar at 95 in 2015....same level as in mid-2003 when gold was at $350/oz. Obviously, today's "95" is not the same as 2003's "95." That's a result of all currencies depreciating over 12 years. Does it really matter if you're the last one to jump out of an airplane without a chute when the end result is still going splat?
7 years ago the derivatives caught up with the big banks. Next time around they are going to catch up with the taxpayers who are now officially responsible for covering any losses. And big bank derivative's losses are covered ahead of J6P FDIC "insured" customer accounts.
"The world now has $35 trillion more debt today than in 2007. We are not in the age of deleveraging; We're still in the age of leveraging up. Unfortunately, the over-leveraged condition is virtually everywhere in the world."....Dr. Lacy Hunt.
2015 Parallels to Currency Wars of 1920s and 1930s
First, there is a global problem with debt and slow growth, and no country is immune. Second, the economic problems now, like then, are more serious and are more apparent outside the United States. However, due to negative income and price effects on our trade balance, foreign problems are transmitting into the U.S. and interacting with underlying structural problems. Third, over- indebtedness is rampant today as it was in the 1920s and 1930s. Fourth, competitive currency devaluations are taking place today as they did in the earlier period. These are a combination of monetary and/or fiscal policy actions and also, with floating exchange rates, a consequence of shifting assessments of private participants in the markets......Dr. Lacy Hunt
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Wow, just made me look at things differently again. I'm not so sure dumber wasn't happier... The dollar index may change this way and that, but the native value of it goes one way...
7 years ago a dollar bought XX. Today it buys X-less. In 7 more years it will buy X-????? less.
Right now I think of the buying power of pennies as useless, and the nickel and dime not much better; just useless annoyances that could be ended. In another 10 or 20 years, the domestic power of the dollar bill may be very small and comparatively in the same boat.
But ---- At some point with mostly electronic money, the meaning of the dollar index may change.
With all the theories about a paper money system going to zero, this new electronic money (exchange system) is changing everything. Its a new world coming.
all the other proxies are in relation to how much "time" it takes to make a barrel of oil, an ounce of gold, a dollar, a loaf of bread, whatever.
The wealthy man is the one who can spend his time as he wishes, either marveling at the planet and it's place in the universe, or complaining miserably about the exact same thing
also tneig dont fall into the trap of the dunce... wages of what a dollar bought arent the same as wages currently, amongst other things ... its not just a straight line...
<< <i>I like Lacy Hunt and feel honored to have him quoted in my thread. >>
"Monetary Policy is not the solution here. There are Fiscal Policy solutions but they require shared sacrifice, strong leadership (something we don't have in the US or Europe - no one has). Basically what we are trying to do is to solve an extremely over-indebted situation domestically and globally by taking on more debt and aggravating the problem. Rather than bringing us closer to the return of the normal business cycle, they are pushing it all further and further into the future." - Lacy Hunt
Sure sounds a lot like some of the opinions on this forum that you are quick to disagree with.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
to negative income and price effects on our trade balance, foreign problems are transmitting into the U.S. and interacting with underlying structural problems
Hmmmmmmm.
The wealthy man is the one who can spend his time as he wishes, either marveling at the planet and it's place in the universe, or complaining miserably about the exact same thing
Enjoy it while you can. Every day I am thankful. I may not always sound that way, but when I stop and reflect a bit - how can I be otherwise?
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>I like Lacy Hunt and feel honored to have him quoted in my thread. >>
"Monetary Policy is not the solution here. There are Fiscal Policy solutions but they require shared sacrifice, strong leadership (something we don't have in the US or Europe - no one has). Basically what we are trying to do is to solve an extremely over-indebted situation domestically and globally by taking on more debt and aggravating the problem. Rather than bringing us closer to the return of the normal business cycle, they are pushing it all further and further into the future." - Lacy Hunt
Sure sounds a lot like some of the opinions on this forum that you are quick to disagree with. >>
Not at all. I disagree with the notions that the US dollar is going to collapse and bring apocalyptic conditions. I never said the economy was rip roaring hot, but I have said it isnt as bad as you doom and gloomers want us to believe.
I search of this forum may show that I brought up and agreed with Lacy Hunt before anyone else on this forum. Its one thing to disagree with opinion based on fear and misinformation, and quite another to disagree with fact.
<< <i>Wow, just made me look at things differently again. I'm not so sure dumber wasn't happier... The dollar index may change this way and that, but the native value of it goes one way...
7 years ago a dollar bought XX. Today it buys X-less. In 7 more years it will buy X-????? less.
Right now I think of the buying power of pennies as useless, and the nickel and dime not much better; just useless annoyances that could be ended. In another 10 or 20 years, the domestic power of the dollar bill may be very small and comparatively in the same boat.
But ---- At some point with mostly electronic money, the meaning of the dollar index may change.
With all the theories about a paper money system going to zero, this new electronic money (exchange system) is changing everything. Its a new world coming. >>
That vacation to Australia and Canada are 20% cheaper than a year ago. Lots of other examples are readily available if you look around.
Face it, Lacy Hunt has what you call the same "gloom and doom" outlook of many here that you so strongly disagree with. Strongly appears source is more important than content with you.
Why must you always associate a negative economic outlook with "gloom and doom" and with "apocalypse?" Did you learn this trick from CNBC?
Things get be very gloomy without ending in doom.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"So a bank which has €54.7 trillion, or a little over $62 trillion at today's exchange rate, in derivatives - a number that is 20 times greater than the GDP of Germany - just failed a central bank stress test due to lacking governance and risk management controls and, just maybe, has insufficient capital? What can possibly go wrong." >>
I read somewhere where we can just net all these derivatives out at any time and all will be well. No harm, no foul. It's back to 1999 in a snap.
Didn't know the FED got involved with stress testing ECB banks. But probably all of these so-called stress tests are easier to pass than they should be. Why even do stress tests if all these derivatives can just be netted out anytime we want? The FED has our back, right?
Dollar at 95 in 2015....same level as in mid-2003 when gold was at $350/oz. Obviously, today's "95" is not the same as 2003's "95." That's a result of all currencies depreciating over 12 years. Does it really matter if you're the last one to jump out of an airplane without a chute when the end result is still going splat?
7 years ago the derivatives caught up with the big banks. Next time around they are going to catch up with the taxpayers who are now officially responsible for covering any losses. And big bank derivative's losses are covered ahead of J6P FDIC "insured" customer accounts.
>>
The FED makes no mention of derivatives and they can all be ripped up if necessary. I understand the PM bulls attachment to derivatives though as it is the only hook left on which to hang a hat. It would just be so much easier if the PM bulls would just follow simple relative valuation measures instead of concocting manipulation, conspiracy theories, lies and fear mongering to push PMs.
<< <i>Face it, Lacy Hunt has what you call the same "gloom and doom" outlook of many here that you so strongly disagree with. Strongly appears source is more important than content with you.
Why must you always associate a negative economic outlook with "gloom and doom" and with "apocalypse?" Did you learn this trick from CNBC?
Things get be very gloomy without ending in doom. >>
I do not see doom and gloom in Hunts analysis. He sees a prolonged period of economic funk, which is exactly what I have been saying for years.
I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light.
The FED makes no mention of derivatives and they can all be ripped up if necessary.
Do you REALLY believe that all derivatives can be "ripped up" and simply thrown out the window with no consequences? Really?
What happens to the banks who have winning positions as a result of ripping up all of the derivatives? Might they become insolvent when they can't realize their "gains" on these hedge bets? It's a zero sum game unless the taxpayer gets stuck for the tab again. How many layers of the onion are there before we would get to see which banks are still being grossly mismanaged without ANY consequence for their managements?
What do you think was happening in 2008? Paper contracts are mainly used to paper-over deficits, and that's not news. It's systemic. It's worldwide. There's about zero accountability and it's 99.9% about control.
What do you think the net result of being able to hold worthless paper on their books at full "nominal" value will be? Why is there zero accountability for this ripoff? What is the rationale here?
The banking system needs to be routed out and cleaned up. Just my humble opinion. What do you think the net result of being able to hold worthless paper on their books at full "notional" value will be? Why is there zero accountability for this ripoff?
Why are bank depositors liable for bank loses now? Who got paid off to push that one through? Let's be completely frank. There is no benefit to society from this. This is graft and corruption being practiced at the highest levels.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light. >>
No deal. What you think of my opinion and truth will not change it. Our economy is on a course towards collapse and primarily so because of banksters who continue to not be held accountable. It is what it is. It got a reprieve in 2009, but at great expense. Since then the effort and expense continue, but the days are numbered.
I'm confident that my education, experience and knowledge are heads above yours but this forum is not the place to compare size. Stay on your pedestal, it suits you and please, by all means, continue to bring the CNBC daily report to the forum - it makes good fodder.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The banking system needs to be routed out and cleaned up. Just my humble opinion. What do you think the net result of being able to hold worthless paper on their books at full "notional" value will be? Why is there zero accountability for this ripoff?
I agree. Clean it up.
Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences.
<< <i>I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light. >>
No deal. What you think of my opinion and truth will not change it. Our economy is on a course towards collapse and primarily so because of banksters who continue to not be held accountable. It is what it is. It got a reprieve in 2009, but at great expense. Since then the effort and expense continue, but the days are numbered.
I'm confident that my education, experience and knowledge are heads above yours but this forum is not the place to compare size. Stay on your pedestal, it suits you and please, by all means, continue to bring the CNBC daily report to the forum - it makes good fodder. >>
Your confidence will continue to be used by "them".
<< <i>Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences. >>
The reality is that taxpayers are now definitely liable thanks to a little publicized section of the 2014 Omnibus spending bill. In what the Washington Post only reported as legislation that "also weakens some Wall Street regulations" (typical mainstream media reporting) your congress approved language (written by Citibank) that now puts the FDIC (taxpayers) on the hook for banking derivative losses.. Keep in mind that banks are betting on derivatives in the hundreds of trillions of dollars.
I am confident that future US bank rescues will involve taxpayer bail-outs and bank account holder bail-ins. Believe what you want and, endure the consequences.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences. >>
The reality is that taxpayers are now definitely liable thanks to a little publicized section of the 2014 Omnibus spending bill. In what the Washington Post only reported as legislation that "also weakens some Wall Street regulations" (typical mainstream media reporting) your congress approved language (written by Citibank) that now puts the FDIC (taxpayers) on the hook for banking derivative losses.. Keep in mind that banks are betting on derivatives in the hundreds of trillions of dollars.
I am confident that future US bank rescues will involve taxpayer bail-outs and bank account holder bail-ins. Believe what you want and, endure the consequences. >>
Your $50,000 in the bank is not going to be taken from you to pay off the banks losses. But you are free to believe that and live in fear. Boo!!! Dang, that never gets old. LOL
Today the dollar index is at 94.55. The dollar is doing fantastic. That's what is hurting gold.
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'm just finishing up, "Boom, Bust, Exodus" which is based on my hometown. Amazon.com I can't take too much more depressing news!
The online sparing here at CU Forums will have to cheer me up! >>
I cant believe that towns get built up and then die off. Wow. Has that ever happened before in the history of mankind?
You know what, I bet new towns get developed and flourish also. What do you think? >>
No doubt about it. Mexico, Indonesia, China and $1.75/hour, they are flourishing. Meanwhile our middle class is breathing it's last breath and our Gini Index is likely to surpass the USD Index by next year. The human toll is staggering as drug, alcolhol, spousal, and child abuse rip apart the fabric of our nation.
Population of Fargo, ND in 1990--74,000. In 2013-113,000. Population of Roseville, CA in 1990--45,000. In 2013-127,000
Population of Galesburg, IL in 1990--33,000. In 2013-31,000 Population of Syracuse, NY in 1990--164,000. In 2013--144,000.
Just a general observation....cities and towns with no population growth will be dead. Those with growing populations will be robust. Or as you see it, drugs, alcohol, spousal and child abuse are destroying Galesburg and Syracuse?
<< <i>Outsourcing and insourcing is making the USA a third world country.. We are already there!!!! >>
WE are already a third world country? I have been to several third world countries…we are not even close! Such a statement is total fiction. >>
Take it you haven't been to Detroit lately.
Seriously, parts of the US have deterioriated drastically over the last few years.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Probably qualifies for POTY! Why didn't Bernanke, Geithner, Gensler, Lew, Yellen, etc. think of this? I have to give Cohodk credit though. Of the thousands of pages I've read over the past 12 years, this is the only place where I've heard that mentioned. At least we now have the game plan in effect for the next derivative's crisis. And golfer John Daly will be honorary chairman...."grip it, and rip it."
qualifies for POTY! Why didn't Bernanke, Geithner, Gensler, Lew, Yellen, etc. think of this?
Because the counterparties were also bankers.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Probably qualifies for POTY! Why didn't Bernanke, Geithner, Gensler, Lew, Yellen, etc. think of this? I have to give Cohodk credit though. Of the thousands of pages I've read over the past 12 years, this is the only place where I've heard that mentioned. At least we now have the game plan in effect for the next derivative's crisis. And golfer John Daly will be honorary chairman...."grip it, and rip it." >>
You dont think any derivative contracts have already been "ripped up"?
Just because you dont know something doesnt mean it isnt true.
I understand the last hat hanger has only 1 nail holding in onto the wall. Be careful not to hang too much more on it. If it falls, the PM bulls may actually have to wear their dunce hat on their heads. LOL
And it's killing US exports/jobs. Look for intervention.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Ya can't say "impacting", "affecting", "reducing", it has to be "killing"
no, it is not killing. >>
Perspective. To those not affected it is impacting jobs. To the many who are losing jobs it's killing jobs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
<< <i>Seven years ago our banks were out of control and it caught up with them. Today. . .
Deutschebank Fails Fed Stress Test
"So a bank which has €54.7 trillion, or a little over $62 trillion at today's exchange rate, in derivatives - a number that is 20 times greater than the GDP of Germany - just failed a central bank stress test due to lacking governance and risk management controls and, just maybe, has insufficient capital? What can possibly go wrong." >>
I read somewhere where we can just net all these derivatives out at any time and all will be well. No harm, no foul. It's back to 1999 in a snap.
Didn't know the FED got involved with stress testing ECB banks. But probably all of these so-called stress tests are easier to pass than they should be. Why even do stress tests if all these derivatives can just be netted out anytime we want? The FED has our back, right?
Dollar at 95 in 2015....same level as in mid-2003 when gold was at $350/oz. Obviously, today's "95" is not the same as 2003's "95." That's a result of all currencies depreciating over 12 years. Does it really matter if you're the last one to jump out of an airplane without a chute when the end result is still going splat?
7 years ago the derivatives caught up with the big banks. Next time around they are going to catch up with the taxpayers who are now officially responsible for covering any losses. And big bank derivative's losses are covered ahead of J6P FDIC "insured" customer accounts.
"The world now has $35 trillion more debt today than in 2007. We are not in the age of deleveraging; We're still in the age of leveraging up. Unfortunately, the over-leveraged condition is virtually everywhere in the world."....Dr. Lacy Hunt.
2015 Parallels to Currency Wars of 1920s and 1930s
First, there is a global problem with debt and slow growth, and no country is immune.
Second, the economic problems now, like then, are more serious and are more apparent outside the United States. However, due to negative income and price effects on our trade balance, foreign problems are transmitting into the U.S. and interacting with underlying structural problems.
Third, over- indebtedness is rampant today as it was in the 1920s and 1930s.
Fourth, competitive currency devaluations are taking place today as they did in the earlier period. These are a combination of monetary and/or fiscal policy actions and also, with floating exchange rates, a consequence of shifting assessments of private participants in the markets......Dr. Lacy Hunt
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
The dollar index may change this way and that, but the native value of it goes one way...
7 years ago a dollar bought XX. Today it buys X-less. In 7 more years it will buy X-????? less.
Right now I think of the buying power of pennies as useless, and the nickel and dime not much better; just useless annoyances that could be ended.
In another 10 or 20 years, the domestic power of the dollar bill may be very small and comparatively in the same boat.
But ---- At some point with mostly electronic money, the meaning of the dollar index may change.
With all the theories about a paper money system going to zero, this new electronic money (exchange system) is changing everything. Its a new world coming.
all the other proxies are in relation to how much "time" it takes to make a barrel of oil, an ounce of gold, a dollar, a loaf of bread, whatever.
The wealthy man is the one who can spend his time as he wishes, either marveling at the planet and it's place in the universe, or complaining miserably about the exact same thing
Liberty: Parent of Science & Industry
its not just a straight line...
Knowledge is the enemy of fear
<< <i>I like Lacy Hunt and feel honored to have him quoted in my thread. >>
"Monetary Policy is not the solution here. There are Fiscal Policy solutions but they require shared sacrifice, strong leadership (something we don't have in the US or Europe - no one has). Basically what we are trying to do is to solve an extremely over-indebted situation domestically and globally by taking on more debt and aggravating the problem. Rather than bringing us closer to the return of the normal business cycle, they are pushing it all further and further into the future." - Lacy Hunt
Sure sounds a lot like some of the opinions on this forum that you are quick to disagree with.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Also 7 years ago silver was $12.70 & gold was $609.50 . . . Just saying . . . >>
Priceline.com was $22, now $485.
Amazon.com was $48, now $191.
IBM was 88, now 183
Biogen was 45, now 115.
I wont even mention AAPL, or BIDU, or even NFLX or Ross Stores. >>
...and Bitcoin was still a year out from being released.
(somebody had to wear the tinfoil and throw that in!)
-Mitch Hedberg
Hmmmmmmm.
The wealthy man is the one who can spend his time as he wishes, either marveling at the planet and it's place in the universe, or complaining miserably about the exact same thing
Enjoy it while you can. Every day I am thankful. I may not always sound that way, but when I stop and reflect a bit - how can I be otherwise?
I knew it would happen.
<< <i>
<< <i>I like Lacy Hunt and feel honored to have him quoted in my thread. >>
"Monetary Policy is not the solution here. There are Fiscal Policy solutions but they require shared sacrifice, strong leadership (something we don't have in the US or Europe - no one has). Basically what we are trying to do is to solve an extremely over-indebted situation domestically and globally by taking on more debt and aggravating the problem. Rather than bringing us closer to the return of the normal business cycle, they are pushing it all further and further into the future." - Lacy Hunt
Sure sounds a lot like some of the opinions on this forum that you are quick to disagree with. >>
Not at all. I disagree with the notions that the US dollar is going to collapse and bring apocalyptic conditions. I never said the economy was rip roaring hot, but I have said it isnt as bad as you doom and gloomers want us to believe.
I search of this forum may show that I brought up and agreed with Lacy Hunt before anyone else on this forum. Its one thing to disagree with opinion based on fear and misinformation, and quite another to disagree with fact.
Knowledge is the enemy of fear
<< <i>Wow, just made me look at things differently again. I'm not so sure dumber wasn't happier...
The dollar index may change this way and that, but the native value of it goes one way...
7 years ago a dollar bought XX. Today it buys X-less. In 7 more years it will buy X-????? less.
Right now I think of the buying power of pennies as useless, and the nickel and dime not much better; just useless annoyances that could be ended.
In another 10 or 20 years, the domestic power of the dollar bill may be very small and comparatively in the same boat.
But ---- At some point with mostly electronic money, the meaning of the dollar index may change.
With all the theories about a paper money system going to zero, this new electronic money (exchange system) is changing everything. Its a new world coming. >>
That vacation to Australia and Canada are 20% cheaper than a year ago. Lots of other examples are readily available if you look around.
Knowledge is the enemy of fear
Why must you always associate a negative economic outlook with "gloom and doom" and with "apocalypse?" Did you learn this trick from CNBC?
Things get be very gloomy without ending in doom.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Seven years ago our banks were out of control and it caught up with them. Today. . .
Deutschebank Fails Fed Stress Test
"So a bank which has €54.7 trillion, or a little over $62 trillion at today's exchange rate, in derivatives - a number that is 20 times greater than the GDP of Germany - just failed a central bank stress test due to lacking governance and risk management controls and, just maybe, has insufficient capital? What can possibly go wrong." >>
I read somewhere where we can just net all these derivatives out at any time and all will be well. No harm, no foul. It's back to 1999 in a snap.
Didn't know the FED got involved with stress testing ECB banks. But probably all of these so-called stress tests are easier to pass than they should be. Why even do stress tests if all these derivatives can just be netted out anytime we want? The FED has our back, right?
Dollar at 95 in 2015....same level as in mid-2003 when gold was at $350/oz. Obviously, today's "95" is not the same as 2003's "95." That's a result of all currencies depreciating over 12 years. Does it really matter if you're the last one to jump out of an airplane without a chute when the end result is still going splat?
7 years ago the derivatives caught up with the big banks. Next time around they are going to catch up with the taxpayers who are now officially responsible for covering any losses. And big bank derivative's losses are covered ahead of J6P FDIC "insured" customer accounts.
>>
The FED makes no mention of derivatives and they can all be ripped up if necessary. I understand the PM bulls attachment to derivatives though as it is the only hook left on which to hang a hat. It would just be so much easier if the PM bulls would just follow simple relative valuation measures instead of concocting manipulation, conspiracy theories, lies and fear mongering to push PMs.
Knowledge is the enemy of fear
<< <i>Face it, Lacy Hunt has what you call the same "gloom and doom" outlook of many here that you so strongly disagree with. Strongly appears source is more important than content with you.
Why must you always associate a negative economic outlook with "gloom and doom" and with "apocalypse?" Did you learn this trick from CNBC?
Things get be very gloomy without ending in doom. >>
I do not see doom and gloom in Hunts analysis. He sees a prolonged period of economic funk, which is exactly what I have been saying for years.
I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light.
Knowledge is the enemy of fear
Do you REALLY believe that all derivatives can be "ripped up" and simply thrown out the window with no consequences? Really?
What happens to the banks who have winning positions as a result of ripping up all of the derivatives? Might they become insolvent when they can't realize their "gains" on these hedge bets? It's a zero sum game unless the taxpayer gets stuck for the tab again. How many layers of the onion are there before we would get to see which banks are still being grossly mismanaged without ANY consequence for their managements?
What do you think was happening in 2008? Paper contracts are mainly used to paper-over deficits, and that's not news. It's systemic. It's worldwide. There's about zero accountability and it's 99.9% about control.
What do you think the net result of being able to hold worthless paper on their books at full "nominal" value will be? Why is there zero accountability for this ripoff? What is the rationale here?
The banking system needs to be routed out and cleaned up. Just my humble opinion. What do you think the net result of being able to hold worthless paper on their books at full "notional" value will be? Why is there zero accountability for this ripoff?
Why are bank depositors liable for bank loses now? Who got paid off to push that one through? Let's be completely frank. There is no benefit to society from this. This is graft and corruption being practiced at the highest levels.
I knew it would happen.
<< <i>I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light. >>
No deal. What you think of my opinion and truth will not change it. Our economy is on a course towards collapse and primarily so because of banksters who continue to not be held accountable. It is what it is. It got a reprieve in 2009, but at great expense. Since then the effort and expense continue, but the days are numbered.
I'm confident that my education, experience and knowledge are heads above yours but this forum is not the place to compare size. Stay on your pedestal, it suits you and please, by all means, continue to bring the CNBC daily report to the forum - it makes good fodder.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
If you want to keep your head in a rabbit hole. Do not read this book
http://www.thefailureoflaissezfairecapitalism.com/go/the-failure-of-laissez-faire-capitalism/
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
I agree. Clean it up.
Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences.
Knowledge is the enemy of fear
<< <i>
<< <i>I use terms like doom and gloom and apocalypse because you use terms like "collapse", "banksters", and post stupid comedic cartoons to draw attention to your cause. Interesting how your use of such terms is not deemed overdramatic, yet if I use them it is. I suppose thats what I get for consistent logical, realistic and pragmatic thought. I guess thats what I deserve for stepping down to your level.
Here's the deal. Try writing your opinion with some semblance of education, experience and knowledge instead of using hyperbole, stupid cartoons, ill conceived charts and stats, and "name-calling" and your opinion may very well be received in a more favorable light. >>
No deal. What you think of my opinion and truth will not change it. Our economy is on a course towards collapse and primarily so because of banksters who continue to not be held accountable. It is what it is. It got a reprieve in 2009, but at great expense. Since then the effort and expense continue, but the days are numbered.
I'm confident that my education, experience and knowledge are heads above yours but this forum is not the place to compare size. Stay on your pedestal, it suits you and please, by all means, continue to bring the CNBC daily report to the forum - it makes good fodder. >>
Your confidence will continue to be used by "them".
Knowledge is the enemy of fear
<< <i>Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences. >>
The reality is that taxpayers are now definitely liable thanks to a little publicized section of the 2014 Omnibus spending bill. In what the Washington Post only reported as legislation that "also weakens some Wall Street regulations" (typical mainstream media reporting) your congress approved language (written by Citibank) that now puts the FDIC (taxpayers) on the hook for banking derivative losses.. Keep in mind that banks are betting on derivatives in the hundreds of trillions of dollars.
Bank depositors also on the hook? Yes, now that they have been determined to be "creditors" of a bank where they keep deposits as I explained on 11/24/14, making their accounts a bail-out source. More on that. These "bail-ins" being pushed by the IMF and adopted by G20 members were first given a successful test run in Cyprus in 2013.
I am confident that future US bank rescues will involve taxpayer bail-outs and bank account holder bail-ins. Believe what you want and, endure the consequences.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Read this book if you want to know the simple truth..
If you want to keep your head in a rabbit hole. Do not read this book
http://www.thefailureoflaissezfairecapitalism.com/go/the-failure-of-laissez-faire-capitalism/ >>
I'm just finishing up, "Boom, Bust, Exodus" which is based on my hometown. Amazon.com I can't take too much more depressing news!
The online sparing here at CU Forums will have to cheer me up!
<< <i>
<< <i>Why are bank depositors liable for bank loses now
They arent, yet this myth persists among those who wish to believe in manipulation and conspiracies. Some people still believe in the Loch Ness Monster. I cant influence that thought and I cant influence yours. Believe what you want, and endure the consequences. >>
The reality is that taxpayers are now definitely liable thanks to a little publicized section of the 2014 Omnibus spending bill. In what the Washington Post only reported as legislation that "also weakens some Wall Street regulations" (typical mainstream media reporting) your congress approved language (written by Citibank) that now puts the FDIC (taxpayers) on the hook for banking derivative losses.. Keep in mind that banks are betting on derivatives in the hundreds of trillions of dollars.
Bank depositors also on the hook? Yes, now that they have been determined to be "creditors" of a bank where they keep deposits as I explained on 11/24/14, making their accounts a bail-out source. More on that. These "bail-ins" being pushed by the IMF and adopted by G20 members were first given a successful test run in Cyprus in 2013.
I am confident that future US bank rescues will involve taxpayer bail-outs and bank account holder bail-ins. Believe what you want and, endure the consequences. >>
Your $50,000 in the bank is not going to be taken from you to pay off the banks losses. But you are free to believe that and live in fear. Boo!!! Dang, that never gets old. LOL
Knowledge is the enemy of fear
<< <i>
<< <i>Read this book if you want to know the simple truth..
If you want to keep your head in a rabbit hole. Do not read this book
http://www.thefailureoflaissezfairecapitalism.com/go/the-failure-of-laissez-faire-capitalism/ >>
I'm just finishing up, "Boom, Bust, Exodus" which is based on my hometown. Amazon.com I can't take too much more depressing news!
The online sparing here at CU Forums will have to cheer me up!
I cant believe that towns get built up and then die off. Wow. Has that ever happened before in the history of mankind?
You know what, I bet new towns get developed and flourish also. What do you think?
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Read this book if you want to know the simple truth..
If you want to keep your head in a rabbit hole. Do not read this book
http://www.thefailureoflaissezfairecapitalism.com/go/the-failure-of-laissez-faire-capitalism/ >>
I'm just finishing up, "Boom, Bust, Exodus" which is based on my hometown. Amazon.com I can't take too much more depressing news!
The online sparing here at CU Forums will have to cheer me up!
I cant believe that towns get built up and then die off. Wow. Has that ever happened before in the history of mankind?
You know what, I bet new towns get developed and flourish also. What do you think? >>
No doubt about it. Mexico, Indonesia, China and $1.75/hour, they are flourishing.
I suggest you use a tougher fabric.
Population of Fargo, ND in 1990--74,000. In 2013-113,000.
Population of Roseville, CA in 1990--45,000. In 2013-127,000
Population of Galesburg, IL in 1990--33,000. In 2013-31,000
Population of Syracuse, NY in 1990--164,000. In 2013--144,000.
Just a general observation....cities and towns with no population growth will be dead. Those with growing populations will be robust. Or as you see it, drugs, alcohol, spousal and child abuse are destroying Galesburg and Syracuse?
The problem is not the color of glasses we wear.
Knowledge is the enemy of fear
not even worth the effort of a rebuttal; it's too easy and has already been said enough times
Liberty: Parent of Science & Industry
<< <i>our middle class is breathing it's last breath
not even worth the effort of a rebuttal; it's too easy and has already been said enough times >>
No it's not, not unless you are one of those 200 million Americans. Clearly you are not.
Liberty: Parent of Science & Industry
Seems you imply the meaning like its Armageddon ...
<< <i>Saying 2/3rds of the US population is "on their last breath" is a pretty hyperbolic and depressive broad brush, no? >>
Perhaps but not to worry. They will be put out of their misery within a decade.
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
<< <i>Outsourcing and insourcing is making the USA a third world country.. We are already there!!!! >>
WE are already a third world country?
I have been to several third world countries…we are not even close!
Such a statement is total fiction.
<< <i>
<< <i>Outsourcing and insourcing is making the USA a third world country.. We are already there!!!! >>
WE are already a third world country?
I have been to several third world countries…we are not even close!
Such a statement is total fiction. >>
Take it you haven't been to Detroit lately.
Seriously, parts of the US have deterioriated drastically over the last few years.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
Liberty: Parent of Science & Industry
<< <i>who has a few decades?
You can cover up anything with a big enough poster.
Too many positive BST transactions with too many members to list.
Liberty: Parent of Science & Industry
But I'll pluck the figs
Untl the cows come home.
Probably qualifies for POTY! Why didn't Bernanke, Geithner, Gensler, Lew, Yellen, etc. think of this? I have to give Cohodk credit though. Of the thousands of pages I've read over the past 12 years, this is the only place where I've heard that mentioned. At least we now have the game plan in effect for the next derivative's crisis. And golfer John Daly will be honorary chairman...."grip it, and rip it."
Because it didn't benefit them directly?
I knew it would happen.
Because the counterparties were also bankers.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i> Just rip up all the derivatives
Probably qualifies for POTY! Why didn't Bernanke, Geithner, Gensler, Lew, Yellen, etc. think of this? I have to give Cohodk credit though. Of the thousands of pages I've read over the past 12 years, this is the only place where I've heard that mentioned. At least we now have the game plan in effect for the next derivative's crisis. And golfer John Daly will be honorary chairman...."grip it, and rip it."
You dont think any derivative contracts have already been "ripped up"?
Just because you dont know something doesnt mean it isnt true.
I understand the last hat hanger has only 1 nail holding in onto the wall. Be careful not to hang too much more on it. If it falls, the PM bulls may actually have to wear their dunce hat on their heads. LOL
Knowledge is the enemy of fear
$1.00 Euro on the way (?)
Liberty: Parent of Science & Industry
<< <i>Dollar index 99.57 today.. >>
And it's killing US exports/jobs. Look for intervention.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
no, it is not killing.
Liberty: Parent of Science & Industry
<< <i>
<< <i>Dollar index 99.57 today.. >>
And it's killing US exports/jobs. Look for intervention. >>
No its isnt.
How many times have we heard the "US doesnt make anything"?
Knowledge is the enemy of fear
<< <i>Ya can't say "impacting", "affecting", "reducing", it has to be "killing"
no, it is not killing. >>
Perspective. To those not affected it is impacting jobs. To the many who are losing jobs it's killing jobs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
And it's killing US exports/jobs. Look for intervention.
Dollar index at same level today as in March.
5 million job openings in March 2015.
5.5 million job openings today.
Only hyperbole being killed.
Knowledge is the enemy of fear