Discussion in 'Economics' started by ByLoSellHi, Oct 9, 2008.
ha cha cha cha cha!!!
"The Maestro" sure did paint his fucking masterpiece didn't he.
$530 Trillion worth of derivatives based on...$100 Trillion worth of worldwide assets? Hmm...
The best Greenspan can hope for is to go down in history as a Wall Street yes man. Most likely he will go down as the one of the biggest idiots ever to work for the Federal government.
'interest rate swaps' - must be a lot of clenched cheeks out there
given where the Libor's at
you don't get it, he never worked for federal gummin
he was chairman of the FED
do you even know what THE FED is ????
It's obvious most people are clueless about even the official structure of the government & monetary system.
I'm still trying to figure where exactly it states that the Fed Chairman is an all powerful individual who single-handedly makes decisions about the monetary policies of the Fed as if he owns it 100% like a dictator.
Greenspan is one of the few high up officials who threw out warnings about this in a very cryptic manner. Even though it was under him that these derivatives were started, around late 1990s.
He started as a gold standard guy and his legacy oddly enough may be to bring us back to something like that.
geez dude..chill out...
how about some links to those youtube vids that explain it instead of lashing out?
Thank you for that pic
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