You got it. Its FASCISM. Plutocratic Bankers waging economic WARFARE against the American People. And thats just one part of it! :eek: :eek: :eek:
ok guys, I'm not into fighting mode. Most of those 13 trillions are not cash injected in the economy in the form of banknotes but guarantees aimed at stabilising the system. These 13 trillion shouldn't turn into hard cash otherwise we are in deep sh.t. AIG is an example of some of these guarantees actually being monetized. Rest assured that if tomorrow they only monetize a fraction of these guarantees, let's say 2 trillions, then it's game over. It would mean these guarantees have turned into hard debt which would make everything explode. Hopefully these guarantees are not monetized and we carry on living. If the economy doesn't get better and more AIGs materialize, then start counting the money and the bullets... The leaders of today are gamblers with poor understanding of odds. Hopefully they will get lucky on this one.
Can someone help me understand why certain id!ots post the entire text of an article, rather than simply the link? Even putting aside copyright, is the underlying belief that e'traders don't understand how to click a link?
Brendan, I don't want to fight either. Your original post was insightful and logical, albeit not an accurate reflection of events. You make a good point about some bailout money being guarantees. The problem - those 'guarantees' (and not the outright loans or cash bailouts) are a Government back-stop on DERIVATIVE LOSSES! Or cash earmarked for spending, a few months down the road!! The actual cash spent - 6 weeks ago - was 4.1 Trillion Dollars. And still much of Tarp 2 plus the Obama stimulus is yet to be spent. Thats 6 Trillion, total spent!! Half Way to Thunder Dome!!! Instead of Government opting to fix the meltdown with an outright purchase of the underlying subprime crap for 2 Trillion - which they already have spent THREE TIMES OVER - OR, nullifying CDS which is the real heart of the matter, they chose to let toxic derivatives fester unabated and just pay those losses when they come due!!! It should be OBVIOUS whats going on, here. This is outright FRAUD. As the economy slides, losses will mount and more CASH from those commitments WILL GET PAID. To top it off, the economy buoys or sinks on the Bankers credit. The off-switch is Banker-controlled and the FED and Treasury keep earmarking more taxpayer dollars for derivatives the Government could have OUTLAWED 2 YEARS AGO!! Think about it: wheres the incentive for Banks to lend and make a paltry 5 Billion per quarter, when they could restrict credit, finish the economy, and collect another 7 TRILLION FROM TAXPAYERS?! They already took us for 6 Trillion and the Government ponied up another 7 Trillion, just waiting in the wings! ITS A SCAM! They're gonna get it all and more. Probably 15 to 20 Trilliion when its all said and done. And I agree with you, btw, about the market making another leg down. Should prove to be another "windfall" for the extortionist-Bankers. LOCK-AND-LOAD.
What is more interesting IMO is that the USD remained the world reserve currency, with absolutely no challengers whatsoever, despite crashing in value, experiencing record inflation, a massive bear market in both stocks and bonds, soaring public debt, and military defeat and loss of status internationally. If the dollar stayed the reserve currency from 1974 to 1980, then it is hardly going to lose its status during the current period. As for the Chinese currency, the idea of that becoming the reserve currency is laughable, at least in our generation. The Euro is the only thing that could come even close to challenging the dollar, and there are some issues with absorbing the E European countries, along with UK/£ before it would seriously be considered IMO. Basically, the country with the most guns, most political stability, and the most open, richest economy gets to claim the reserve currency mantle. EU fails on power & possibly stability, China fails on all three.
Out of interest, has anyone (RGE included) ever explained how a US deficit vs a surplus in China/Asia is an "imbalance"?
What's the betting achilles28 has: i) a bank account ii) a credit card iii) an overdraft iv) all of the above Yeah, let's get rid of banks and bankers. I hope you have lots of goats to barter with.
Another Sheep who likes getting reamed for 13 Trillion (and counting). Even when its made clear as day, you turn away like a coward. Well, hey, if it makes you feel better, I could wipe the floor with you any day of the week.