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Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For
Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall:
Five years after the Wall Street coup of 2008, it appears the U.S. House of Representatives is as bought and paid for as ever. We heard about the Citigroup crafted legislation currently being pushed through Congress back in May when Mother Jones reported on it. Fortunately, they included the following image in their article:
Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services.
We say explicitly, of course, because taxpayers have always been on the hook implicitly for the next Wall Street meltdown.
Why?
Exhibit A: US banks are the proud owners of $303 trillion in derivatives (and spare us the whole "but.. but... net exposure" cluelessness - read here why that is absolutely irrelevant when even one counterpaty fails):
Exhibit B: Here are the four banks that are in complete control of the US "republic."
At least we now know with certainty that to a clear majority in Congress - one consisting of republicans and democrats - the future viability of Wall Street is far more important than the well-being of their constituents. Which also, implicitly, was made clear when Hank Paulson was waving a three-page "blank check" term sheet, and when Congress voted through the biggest bailout of banks in US history back in 2008.
The only question is when the next multi-trillion (or perhaps quadrillion now that all global central banks are all in?) bailout takes place.
Source: OCC
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Just in time...
Nothing changes until we roll the "National razor"
I will never keep my money in a bank again.
When I teach it just amazes me how effective propaganda is on students. People really do not want the truth.
It is even more effective with 'students' who have already lived much of their life propagandized and have been working for 10 - 20 - 30 years or more.
"We the People" are a thoroughly propagandized population. And it shows.
What is the difference between banks propagandizing to support their interests versus the endless stream of bloggers that sell their opinions in the exact same way?
They are both doing what they "believe" in. To "enlighten the people" or to implement a global government. (both for profit of course)
The difference is the banks have a printing press and can buy anything they want, for the cost of some ink and computers.
Yes, but they both believe it. "Doing God's work" and all. They are both shuffling bits and expecting us to feed them.
Don't think I am defending banks, I am attacking for profit bloggers.
Comparing bloggers who make a mere pittance in profit to banksters who have unlimited means to increase their bounty is, as the old saying goes, comparing apples to oranges.
I think it shows the rotten foundation. People, at the highest and lowest levels in society, want to punch keys on a computer in exchange for a really nice lifestyle.
Nice trolling and breaking down the discussion cunt.
These bankers...they have overstayed their welcome, abused our good cheer, and will have to be literally destroyed once again.
You'd think the tribe would figure out the pattern by now?
/My time. It is coming.
Hey America. Too bad none of your politicians took math in school.
In America it is more important to teach our kids diversity than math.In America it is more important to teach our ids diversity than math.
They broke it we bought it
http://y2u.be/VI6tBwVjyOY
when the dust settles, the only chumps who will be on the hook will be the bankers. i'm long meat cleavers
It's been a while since we've had a nice big bank failure and US-subsidized ingestion/annexation by the house of morgan. My bet's on Citi, by 2016.
The next Banker Bailout will be Bigger, Better Robustier and also drive gold up to near $5,000/oz I suspect.
Thank you sir, may i have another?
This makes it look like the derivatives implosion is getting green light signals and a complimentary CYA.
"The only question is when the next multi-trillion (or perhaps quadrillion now that all global central banks are all in?) bailout takes place."
But, but, but - it's for the children...
$303 trillion?
You ignorant bitches want a check or cash?
I am not paying any of these.
Neither am I.
Unfortunately, yea, yea WE are. And OUR children and OUR grandchildren. Generations of OUR posterity are going to pay for this in profound ways. The first being the death of the Republic and the second, the slavery that will follow.
it's for the children...
Yeah between Common Core and Michelle's school lunches.....my grandkids are pissed as hell.
making a list, checking it twice, gonna payback the naughty and call myself nice.
I must've missed the fuckin' plane, Jeff, because I don't know WTF a video about Vegan Fags and the Faggy Vegan Shit that they eat has to do with a damn thing?
http://y2u.be/-kXquvSEGiU
In the end, does it matter? When the financial weapons of mass destruction blow there is going to be no way to fund the gubbimint. This will just hasten the process.
I'm wondering...who was long oil contracts or some derivative on oil? And is this why we had to make sure this was in the "budget" that got passed last night?
I read that the big six tptf banks were in some $3.9trillion thru 2016.
Then, if the senate passes it and O'Bummer signs it, oil is going to reverse its direction?
Don't forget the junk bonds that are starting their swirl around the toilet.
Math and a little too much creativity are a dangerous mix.
"Serfs Up" Love your handle/avatar
Nah,
That only works if the proposition presented makes a minimum of sense to anyone, even those on the lowest left side of the bell curve.
This doesn't.
_disengage_
You wrote: What is the difference between banks propagandizing to support their interests versus the endless stream of bloggers that sell their opinions in the exact same way?
The difference in a nutshell:
Blog is a symptom, and bank is the cause of the symptom.
Blog won’t cure private-banking (bank-money) symptom; and stop its Central Banks rescuing those banks.
However, bloggers will develop the platform and language to explain that since the 70’s, US turned from an Empire of production (engine of the middleclass) to an Empire of consumption (financialization and lots of debt) that led us to an Empire of elusion (our education and massmedia systems).
Anyway, let’s just hope that we bloggers, do not becoming as corrupted and delusional while doing it.
“The intellect has a sharp eye for methods and tools, but is blind to ends and values. So it is no wonder that this fatal blindness is handed on from old to young and today involves a whole generation.” The Goal of Human Existence – Albert Einstein (1943)
The founding fathers wanted the Senate to be the “greatest deliberative body on earth.” In that body would be law, and deeper still would be moral law.
Since money is a division of the law, then the banker machinations of 1912 are key to understanding today’s dysfunction.
The 16’th is income taxation, which allows Government to tax to then backstop credit making banks when their system goes unstable (it is inherently unstable). Remember TARP?
17’th amendment is the most pernicious. It allows Senators to be elected by popular vote. The founders intended on Senators to be sent by their state legislators. Senators were to represent their State Legislators and hence to empower States in a Federal Structure. A Senator can be recalled in this sytem if they do not do the poltical bidding of their masters in the States. Senators relationship to Gov’t is the first paragraph in the Constitution. Senators today are populists funded by Credit making banks and tied corporations. Lobbyists direct their funding toward Senators to the buy the public’s vote - this one act converted our country from a politically driven republic to a hidden money power democracy. (Democracy is one of the worst forms of government.) Senators represent their power base, which is corporations, especially banking corporations.
Federal Reserve Act, the IRS, and debt hooks of WW1 and WW2 soon followed, and hence formed all the necessary machinery. Fed is a debt money system of private banks, who then host government via the acts of 1912.
Ends and Values can be easily ascertained by a group of advanced Senators who are deeply steeped in law and history. Witness the Magna Carta and Constitution which have at their base, Civilizational Ends and Values.
Einstein existed in a period where Private Creditors, of his tribe, had mounted a takeover of legal society.
Since the F-F were Republicans rather than Populists they clearly wanted the Senate immune from direct election and representing State Governments as in modern Germany.......a revising chamber giving a real Confederation aspect.
The way the Federal Government slipped free of constraints is similar to the way Adolf Hitler overthrew the individual German states with Gleichschaltung
The Ominous Parallels
More Privy Council than House of Lords
MEFOBILLS
Let’s focus in three things that you wrote, please:
First: “the Senate to be the “greatest deliberative body on earth…. The moral law. The founders intended Senators were to represent their State and hence to empower States in a Federal Structure.
Second: A Senator can be recalled in this system if they do not do the political bidding of their masters in the States.
Third: “Lobbyists direct their funding toward Senators to the buy vote - converted our country from a republic to a hidden money power democracy.
MEFOBILLS
I find the property of your analyze terrible, because you failed to try to correct the issue of power and cronyism. You just moved it back to the states.
But, for the sake that you might be right; then, how would you address the majority of states that gain more from federal expenditures than they pay into the federal government? Would the senator from another state cut it out to bring to his or her state?
http://en.wikipedia.org/wiki/Federal_taxation_and_spending_by_state#Tables_of_Federal_Taxation_and_Spending_by_State
On the third issue; would you have each state issue their own currency? Who would mint it?
On your first point, here’s one of the “Founding Lawyers”:
James Madison made the following comment about the Senate:
In England, at this day, if elections were open to all classes of people, the property of landed proprietors would be insecure. An agrarian law would soon take place. If these observations be just, our government ought to secure the permanent interests of the country against innovation. Landholders ought to have a share in the government (senate), to support these invaluable interests, and to balance and check the other. They ought to be so constituted as to protect the minority of the opulent against the majority. The senate, therefore, ought to be this body; and to answer these purposes, the people ought to have permanency and stability.
http://en.wikipedia.org/wiki/United_States_Senate#History
I don't think Disengage is trolling. Even if I do not agree with him on all his points, he started a discussion that might be worth some reflexion.
Look, if we're going to accuse of trolling every man or woman that doesn't see things the way of the majority of this ZH-community, then we're killing all critical thinking and are officially putting an end to our own learning curve. Not me, thank you.
Spot on +
The ending of descent is the beginning of CONsensus.
To buggery with anyone who tries to impose it.
Bull fucking shit. All he's doing is stating everyone talks their book. Everyone know that, therefore it's trolling to argue that in favor of a bankster mafia that has bribed it's way into controlling everything worth controlling.
They've destroyed democracy, the rule of law and the value of money worldwide, but to this faggotty asshole a blogger stating his opinion is just the same.
True mkkby, but you're mistakenly equating a statement of a general principle (which is what I stated), implies support for some specific instance, which you've somehow construed to be support for that person's assertion. Which is most definitely not the case. The general principle bears stating because there's far too much of it going on. Anyone who disagrees with a comment simply screams 'troll', or dysinfo agent, or state security mole - all immature laughable and 99.9% baseless obfuscation of the responsibility for a two sided discussion to consider the points and arguable veracity of other points being made.
Point v Counterpoint
When one side of the Point v Counterpoint process says, "Sorry we don't want to hear any counterpoints any more", they're in entirely the wrong place. This should be a basic convention required, by and of all commenters.
I completely agree that slapping labels on people because we disagree is very limiting. Considering every point of view is essential to learning.
Disengaged regularly launches into vicious attacks specifically aimed at Cog, always vitriolic and deliberately misrepresenting Cog's clearly stated purposes. When conversations are derailed with mudslinging and off topic distractions rather than a back and forth exchange of ideas and points, it is trolling. Whether that originates by being a paid shill or a complex over one's short penis, it is still trolling.
Please see numbers 5 and 7 http://vigilantcitizen.com/latestnews/the-25-rules-of-disinformation/
Awesome, so now whenever someone challenges me on a topic I can just reply "what is that, rule number 8?" That seems to cover a few of them anyways... :)
Hi, not in favor of that approach (which I know GW and Cogs are) simply because I've seen people abuse that sort of list specifically to obfuscate valid points being made by others. i.e. dishonest people use them too.
Besides that doesn't it seem a bit 'off' to you to use it? Yes, it's educational to some extent to peruse, and yes it's a convenience for people who write deliberately contrary blog posts and attract serial misrepresentations. But when a person is determined to be intellectually dishonest and misrepresent statements and positions or to extend and read into in unwarrented ways to twist and deliberately misconstrue, pointing this out to the person doing it tends to yeild highly ineffective results. Especially on the internet.
Honest people don't need the list to discuss things, and dishonest or agenda-driven zealots don't care and will often react in even more dishonest ways.
Unfortunately _disengaged_ has suceeded because most of the conversation has been devoted to his tactics rather than the POINT that...
CONGRESS HAS SOLD US OUT, ONCE AGAIN, BY PUTTING US ON THE TAB FOR $303 TRILLION in DERIVATIVES.
Personally I do not care about _disengaged_. HE IS IRRELEVANT.
STOP GIVING HIM YOUR ENERGY.
As for _disengaged_...
He can take his posts and give himself a rectal enema with them.
Ms Cog...There is no disrespect intended. And thanks for that link. Just stop it.
One big difference is that the people at the top can print money out of thin air and commit fraud without fear of jail while everyone else cannot. That's the big difference. If the fraud was legal across the board and everyone copuld print money out of thin air, I don't think you would want that. Then you couldn't be in control. Right?
US is not on the hook for it, this item appears to tying up a loose end. When the Bank goes under what parts can OCC/FDIC grab and liquidate ? This appears to be adding this pile to an orderly liqidation so that the prior Stockholders do not have future claims against them.
Thank you. Propaganda is heavy on ZH. Taxpayer funded bailouts do not need legislation until the actual bailout when there is, "no other choice". See 2008.
I don't know for sure, but seeing how the FDIC is essentially broke and supposedly covers ALL depositors to the limits, I would think that in a contagion situation like AIG, the funding would be automatic and not need Congressional approval.
The rational could be that it's cheaper to save the banks than to payout to depositors in cascading bank failures.
If the banks aren't 'explicitly' covered, then this could be a case of 'implicitly' covered.
Anyone know a link to someone well versed in Legalese as to what this rider actually means?
FDIC insurance is to cover the depositors, but that has changed with the Bail in. Reminds me of the Pension Guarantee Program that most people are unaware of, essentially becomes a cramdown for all benefits. Same with all the State Guarantees of Life Insurance policies and annuities. Orderly liquidatations vs Bailouts. Liquidations orchestrated by Government what recourse do you have ?
This may be part of the plan. The question is what banks will they have go under. Remember the banking crisis in the 1980's, which banks came out smelling like a rose after the dust had settled ?
I have always suspected a new bank to appear on the horizon to save us all from ourselves, a true hero bank in appearance.
Lol.
"...And One Bank to, in the Darkness, bind them".
Is a credit union the same as a bank? If banks fail so will the credit union?
Does anyone know the answer?
I don't think Credit Unions have the same kind of Leveraged Exposure, most people advise you to Move your money into smaller banks and Credit unions. ( but i'm no expert ) disclosure I have a credit union account but also stack
disengage: I can't believe bloggers are sitting at a dinner table, in a posh restaurant, having a thousand dollar bottle of wine. When you say "lowest levels" do you mean a lower level of economic standing ? Or, do you mean by "lowest levels" a degree of ignorance ? If the former it would make your claim inconsistent. Now if the blogger is part of a black op they may be enjoying a better lifestyle than most bloggers.
Here I happen to agree with you, Disengage, provided you replace People with Most people, because that's what's happening in our societies IMO: people at every level, trying to extract as much as they can from society with the least possible input. I see it all the time these days, at all levels, this feeling of entitlement and the "look-society-simply-has-to-pay-for-this". And it is killing us, because unfortunately things don't work that way: trying to take out more than is invested, kills the host.
Granted, the playing field at the top to fleece all the others is much more important. And they never seem to miss an opportunity to do so these days.
Building, creating is more natural then simply taking. If people could keep what they build they would build it. Most of the laws are to prevent you from doing the natural and support the un-natural, thats how power is taken and control maintained.
Welcome to the Province of Ontario CANADA where entitlement rules
and common sense logic is anathema. At least the Americans have enough sense to demonstrate and complain. In CANADA the masses
think being ripped off by government is par for the course. Canadian
politeness extends to corrupt politicians and thieving bureaucrats.
"At least the Americans have enough sense to demonstrate and complain."
Sadly, only a small percentage care to do this - which may still be more than you see in CAN (your point.)
Occupy New York and Occupy Oakland were pretty BIG demonstrations IMHO. I get your point, but Americans have civil disobedience built into culture via the Constitution and you have a two party system whereas
CANADA has a tripartite three party system. The New Democratic Party
has _never_ held Federal political office, but they do get elected provincially. I honestly think that Americans have more capability to demonstrate against BIG Gubberment because of that Wild West notion of Liberty I guess.
Disengage - Bloggers don't get bailouts. The basic tenements of capitalism are rewards for innovative risk-taking and potential failure and bankruptcy. The legal structure of a Republic is supposed to enforce the tenements. Bailouts are demonstrating a Monarchy and that the Republic is dead.
The bloggers I know put up there own capital to get started, banks use OPM. One group uses false information and half-truths to send false signals the other exposes it.
I see no harm in any group wishing or succeeding in using IT to make a great living, but forcing a population to privatize profits and socialize losses is more akin to Fascism than Capitalism.
disingenuous,
What kind of full retard are you to compare the propaganda of a blog to what the banksters and MIC are doing? You are truly a moron.
No one is arguing against anyone preaching and advertising their point of view. Everyone does it, from religions to proselytizing atheists, to governments to Walmart. Everyone.
The big difference is co-opting the power of the state to literally force the theft of an individual’s income, property, life and liberty. What the financiers are doing is using the VAST state powers (which include surveillance, police powers, military, judicial, legislative and NSA tools) to spy on and then rob ME and you. They have co-opted the legal, executive and judicial branches of govt, and the state and local governments to steal my income thru taxes, to steal my pension, to illegally remove me from my home. And now that the public (that means you and ME), are on the hook for their quadrillion in derivatives gone wild we will become debt slaves…and not only me, but my children and grand-children to God knows what generation. And not only will Americans have to pay, but the whole world will. We will send our armies to other countries to obtain the monies necessary to pay for the banksters debts.
And once WE THE PEOPLE are made responsible to pay for their yachts, their coke, their hookers, their multi- million palaces that were obtained through FRAUD, they will declare all of the U.S. government lands and resources as DUE PAYABLE for the debt we have inherited from THEM. All of our forests, coasts, mineral deposits, water resources, and air WILL BE THEIRS because the U.S. govt (that means US you dumbass) WILL LEGALLY BE RESPONSIBLE for their debts. This is the ultimate form PRIVATIZATION OF GAINS AND SOCIALIZATION OF LOSSES?
Well, what does that mean from a practical point of view?
The prices of things will go up yet our incomes will decrease, and our pensions will be decimated. The quality of our health-care, and education will be reduced even more. Stagflation means that their debts will be inflated away and our incomes and resources and services will be deflated.
The fact that you ignore something so obvious lets me know that you are a TROLL. I am not writing to convince you, because you cannot convince a lying scoundrel. I am writing so that other newbies will realize that you are the problem.
You think Jamie Dimon is motivated by "punch[ing] keys on a computer"?
You comparisons are assanine, and your understanding of humans is pathetic.
When everything including the kitchen sink makes it in, the end is near....
Let me see now, $300 trillion / approx 300 million peeps = ~ $1 million each. Yep, just get that outta yer wallet and hand it over.
What? $20k pa over 50 years oughta cover it. Oh hang on, compound interest. Better make that 110 years.
What?
What?
The difference is bloggers don't get bailed out by the taxpayers. Banks do.
The difference is that the banks, representing/ in the hand of the 1%, have concentrated, almost unlimited fire power which they leverage politically with 100% efficiency while the endless stream of bloggers, representing the 99%, is unorganized and works his ass off to elucidate a diversified mass of mostly clueless sheeple.
What if the blogger is wrong? Is it ok for them to reap the rewards of the ill-efforts? If so, why aren't the bankers allowed?
Maybe I'm 'wrong' here but, seriously ~ just STFU (that's my FREE 'non-profit' blog induced pearl of wisdom). Doin' GOD'S WORK & all that.
Disengage is a socialist retard.
Go suck a dick bitch.
RIPS
Say what you will about the tenets of national socialsim, but at least it's an ethos.
I too have a "free" blog... which is to say that the time and effort I put into the things I post there are "non-compensible" - or, for the functionally illiterate, I don't get paid for the hours I spend researching and writing. The blog people get paid for the ads they put on "MY" blog - but ("right" or "wrong") I get nuthin.
Please don't feed the trolls.
+100
Do not give the trolls your energy.
(BTW..I am pleased that you have escaped being on the hook for any of that taxpayer bailout bullshit. Keep yer money out o' dem banks and enjoy your freedom... Great story.)
Completely irrelevant question. No doubt a blogger can be wrong. So what? That doesn't mean that all bloggers are wrong, nor does it mean that evil banks are right. Your pseudo-logic trolling has no upside but keep trying.
Disengage the thieves' economy on all non-essential functions.
Deploy your capital today on solutions for tomorrow that require no dollar inputs.
Strikes can be broken, tax noncompliance leads to jail, boycotts are distributed resistance.
Haifa? Alexandria? Brussels? The beltway? K Street?
The world may never know.
Springtime, for Hitler ('disengage'), in Germany...
https://www.youtube.com/watch?v=kHmYIo7bcUw
I forgot all about that one. Thanks. Classic.
So what? That doesn't mean that all bloggers are wrong,
i share the point , but, unfortunatly, on the web, when someone write shit, usually shit spread , the 21 century plague is the copy/paste syndrom.
Right or wrong, good or evil, righteous or unrighteous, are relative terms. Do your homework to properly discern.
let me engage---if a blogger makes money its from hits--that is, advertizers pay the blogger for getting hit- anything thats done on a blog is effort well spent if it produces hits because that is the method of getting paid-- if on the other hand a blogger justs blogs to hear him self blog then he has spent his time well and it is a good effort.
Ill-effort is a coined term with intent to disparage and even its use is proof of effort well spent.
The upside is that you are angry and trying to throw rocks, with the downside being that you're delusional and see things that don't exist.
Another difference is that bankers get their time of fapping paid.
Hey _disengage_ there is a big difference. Most bloggers want to tell the truth and enlighten people, while the banks want to cover-up the truth to enslave the people. Geez, engage your mind.
Expressing an opinion on a discussion board has nothing to do with providing knowingly false or misleading information to the public for profit.
disengage, I think you meant to sign on to your MSN account.
disengage@goldmansachs.com
When the gov starts bailing out bloggers or giving them trillions in free money, then we can talk.
bloggers dont get paid
disengaged and Disingenuous,
What kind of full retard are you to compare the propaganda of a blog to what the banksters and MIC are doing? You are truly a moron.
No one is arguing against anyone preaching and advertising their point of view. Everyone does it, from religions to proselytizing atheists, to governments to Walmart. Everyone.
The big difference is co-opting the power of the state to literally force the theft of an individual’s income, property, life and liberty. What the financiers are doing is using the VAST state powers (which include surveillance, police powers, military, judicial, legislative and NSA tools) to spy on and then rob ME and you. They have co-opted the legal, executive and judicial branches of govt, and the state and local governments to steal my income thru taxes, to steal my pension, to illegally remove me from my home. And now that the public (that means you and ME), are on the hook for their quadrillion in derivatives gone wild we will become debt slaves…and not only me, but my children and grand-children to God knows what generation. And not only will Americans have to pay, but the whole world will. We will send our armies to other countries to obtain the monies necessary to pay for the banksters debts.
And once WE THE PEOPLE are made responsible to pay for their yachts, their coke, their hookers, their multi- million palaces that were obtained through FRAUD, they will declare all of the U.S. government lands and resources as DUE PAYABLE for the debt we have inherited from THEM. All of our forests, coasts, mineral deposits, water resources, and air WILL BE THEIRS because the U.S. govt (that means US you dumbass) WILL LEGALLY BE RESPONSIBLE for their debts. This is the ultimate form PRIVATIZATION OF GAINS AND SOCIALIZATION OF LOSSES?
Well, what does that mean from a practical point of view?
The prices of things will go up yet our incomes will decrease, and our pensions will be decimated. The quality of our health-care, and education will be reduced even more. Stagflation means that their debts will be inflated away and our incomes and resources and services will be deflated.
The fact that you ignore something so obvious lets me know that you are a TROLL. I am not writing to convince you, because you cannot convince a lying scoundrel. I am writing so that other newbies will realize that you are the problem.
Disengaged, or should I call you Disingenuous ?
What kind of full retard are you to compare the propaganda of a blog to what the banksters and MIC are doing? You are truly a moron.
No one is arguing against anyone preaching and advertising their point of view. Everyone does it, from religions to proselytizing atheists, to governments to Walmart. Everyone.
The big difference is co-opting the power of the state to literally force the theft of an individual’s income, property, life and liberty. What the financiers are doing is using the VAST state powers (which include surveillance, police powers, military, judicial, legislative and NSA tools) to spy on and then rob ME and you. They have co-opted the legal, executive and judicial branches of govt, and the state and local governments to steal my income thru taxes, to steal my pension, to illegally remove me from my home. And now that the public (that means you and ME), are on the hook for their quadrillion in derivatives gone wild we will become debt slaves…and not only me, but my children and grand-children to God knows what generation. And not only will Americans have to pay, but the whole world will. We will send our armies to other countries to obtain the monies necessary to pay for the banksters debts.
And once WE THE PEOPLE are made responsible to pay for their yachts, their coke, their hookers, their multi- million palaces that were obtained through FRAUD, they will declare all of the U.S. government lands and resources as DUE PAYABLE for the debt we have inherited from THEM. All of our forests, coasts, mineral deposits, water resources, and air WILL BE THEIRS because the U.S. govt (that means US you dumbass) WILL LEGALLY BE RESPONSIBLE for their debts. This is the ultimate form PRIVATIZATION OF GAINS AND SOCIALIZATION OF LOSSES?
Well, what does that mean from a practical point of view?
The prices of things will go up yet our incomes will decrease, and our pensions will be decimated. The quality of our health-care, and education will be reduced even more. Stagflation means that their debts will be inflated away and our incomes and resources and services will be deflated.
The fact that you ignore something so obvious lets me know that you are a TROLL. I am not writing to convince you, because you cannot convince a lying scoundrel. I am writing so that other newbies will realize that you are the problem.
It's so nice, he posted it twice
Anarchy! Goddammit! Don't want ANY KIND of fucking government!
Bloggers don't cause economies to collapse.
21.6 x our gdp...hahahaha good luck collecting that!!! fuck you and your hook...
they won't collect from you--they will debase your money and take your property with taxes, eminant domain and forfeture rules--thereby stealing your labor and your assets-- see, its about crime and you're the mark-- it comes with violence if you resist--
The money has been debased,,,and the mark has long gone,,,,,
you're not the only mark in this hellhole we call planet.
Gruber had nothing to apologize for.
~""We the People" are a thoroughly propagandized population. And it shows."~
Propagandized? Hell, did you see that game last night? San Diego was great! /sarc
And it swirls around all this money. Control of the media, combined with the "Big Club, and you're NOT part of it" of Clintons, Bushes, et al with few Sheeple giving it the attention of a goldfish (3 seconds at the most?)
Citizens United only escalates this nonsense. I'm glad I don't live in Iowa any longer, only because my brain was so cluttered with the political ad barrage.
An ode to the CRomnibus bill
The psychos who wrote it are ill
The banksters are back
And on the attack
Their coffers they're trying to fill
Cromnibus - straight outta Die Hard
Hans Gruber: Theo, are we on schedule?
Theo: One more to go then it's up to you. And you better be right, because it looks like this last one is going to take a miracle.
Hans Gruber: It's Christmas, Theo. It's the time of miracles. So be of good cheer... and call me when you hit the last lock.
You are a treasure.
It's a version of the Long Con Coupled w the ongoing global financial coup d'état -
Once these vampires crash the economy again then they'll dump that 300 trillion on the gov officially bankrupting the guv into killing Social Secuirty and selling off the grand canyon, ALL the post offices (which will make that fascist Diane feinstein a shitload of money) etc
It's Not that they 'like' wall street better - it's a WAR!
The Real Question?
When are We The People going to stand up? After the knife is drawn across our throats I guess judging by the insocience of the American muppet.
Laws you say? I'd argue the torture report shows that the guv is ABOVE the law - the law only applies to us little folk - banksters follow the Law?
Never - as the endless crimes of the last 10 years are exposed But NOTHING is done -
But those freaking Derivatives?
Sacrosanct -
Every member of congress and the executive branch are Traitors and law breakers IF the constitution has any meaning left whatsoever.
But we know the answer to that one if we care to admit it.
Long guillotines, pitchforks and Molotov cocktails.
If this isn't a wake up alarm for the sheeple, then they (we) are all doomed.
Thinks about a POTUS, Congress and Senate all GOP in '16. If that does not frighten you, then you will be taken without resistance. I am not saying DEMS are any better. THEY ALL SUCK The divide and conquer scheme no longer seems to be as useful to the oligarchs as it has in the past. They seem to operate wide open now.
http://192.168.20.1/webfilter/blockpage?nonce=ddcdcb7c2f4c3bc8&tid=5
Lewis Black
We won't revolt until we're hungry. We won't go hungry until there's an economic collapse. The more spending .gov does the closer we are to that collapse. Japan first, then Europe, then the US (Kyle Bass' sequence). The dollar is soaring now based on this sequence.
Every central bank around the world has printed their jolly selves into irresponsible oblivion. Printing is the only tool they have left since interest rates are at and < zero. This is just a slow motion approach to the Keynesian cliff of the decreasing/disappearing marginal utility of additional currency printing. Growth of debt worldwide is unsustainable ad infinitum. An injured free-market economy cannot be healed by central planning.
The more of these spending bills we see, the closer we are to a systemic crisis. Applying Professor Krugman's policy prescription of truly massive galactic-level "money" printing would likely be the straw that breaks the camel's back. Nonetheless, his will likely be the most-favored political solution to this economic problem since spending is all politicians ever do to get reelected. Never mind the results throughout history have all shared the same fate - impoverishing the people, overthrowing governments, and war.
Silence please, the fat lady is about to sing.
I do so love the sound of Wagner in the morning.
Mike - utility of additional dollars is negative at this point. We are in cannabalization mode now. Hence the massive redistributive efforts. Is the only thing left to prevent (err... postpone... my bad) the masses from going hungry - which, like you said, is when the S hits the F.
Right now is money running scared. USD is strengthening on demand. And this process is just getting started. Fat lady is warming up for sure. T-minus 12 months or so.
WHO... OPRAH?
Very good point,
Everyone is gonna have to pay dearly for THEIR Yachts, their parties, their lobbys, their mansions and their bad debts. Everyone except themselves. They will literally get more record bonuses. They will come for Social Security, Medicare, your gold, your 401K, your vacation time, your bailed in bank and credit union account, your foreign deposits, U.S. govt forests, national parks, mineral rights, etc.
It prolly will not be done quickly,maybe over a couple of generations, but it will be done.
Stop praying to the constitution - it means nothing. It has meant nothing for a very long time.
How is the Federal Reserve Constitutional? Yet the Fed has lasted over 100 years...
Omnibus, Commiebus, Romneybus, Cromniebus. You can't get blood out of a stone.
We're not gonna let them steal our retirement (401k or self-directed IRA), and we're not paying jack extra. Will leave the country, before we do that. Let The 2% pay for it, given that they benefited and looted long enough. Bet ya these 'patriots' won't be staying either.
But maybe the Chinese and other Oligarchs care to pick up the tab. See how long they stay, and pull up the anchor on their US "anchor residency".
Exactly. When I try to tell some of my "folks" that the derivatives exposure of Deutsche is 25 times the German GDP they look at me and go: "banks are much safer than after 2008, the rules are tighter now!" or "you and your dooms-day talk!" or "no, no, this can't be true; you got the digits wrong, it's billions, not trillions" or whatever they can come up with to just not wake up to reality.
They really did create the matrix and nobody wants to see what's happening. Let alone swallow the red pill!
Swallow they want, though.
"...Yoda? Is that you?"
I'm paying $300+ Trillion????!!! Baby I'm buying everyone up in here........somethin...
https://www.youtube.com/watch?v=oNCIfA6G5XE
Not Yoda I am.
If only waking up from the Matrix could give me Neo's abilities to bend the rules, I would gladly kill some agents(bankers).
Perhaps, one of us here is the ONE, who can destroy the system.
But remember, Tylers(Morpheus) is only offering the truth, nothing more!
...
The One?
Try jumping through a brick wall and tell me if you are.
Withdraw consent and stop feeding them. Easiest way to end this. When you do they will come looking for you....and everyone else. Thats when you get to see if youre the one.
RIPS
All hedges netting to zero.
Of course you're correct and most folks here don't understand your point. But AIG's derivatives netted to zero too, as someone (Goldman et al.) was on the other side of the trade.
I guess the good people on this site/blog suspect that between counter-party risk, contagion etc., they'll be expected to foot the bill next time like they have done since Lehman failed. And they don't like it and are frightened that the next debacle could be even bigger than that of 2008-9.
I agree with them.
Me too. Forgot Americans don't do cynicism.
With Michigan’s Consumer Confidence “rising” and American media all out for the diversions, propaganda and lies, the bad news concerning the overnight bank heist of taxpayer property is that many Americans will never know what is really happening. Tyler’s summary and contributors such as Jim Quinn are giving a true account that absolutely must be expanded if America is to be saved.
Yesterday’s Quinn column was absolutely incredible. The real story behind Quinn’s article and charts is that the true trends point to a major economic catastrophe.
Jim’s opening line hit me hard when he referenced all the events and absurd diversions that the media provides us, sarcastically commenting that life would be much simpler if he could just concentrate on these and not worry about the string of lies coming from the government. I was shocked to realize that I personally have been exposed to all of these media stories -- from the Honey Boo Boo cancellation to Kim Kardashian to Black Thanksgiving to the NFL players’ knockout of their women. And I don’t watch television, don’t go to movies and I’ve not bought a “news” magazine in years.
Yet the propaganda and these diversions have so dominated the public consciousness that the government’s lies are almost completely obfuscated. But for insight, we have men like the Tyler Durdens and Quinn. The latter in yesterday’s piece, “Should You Believe What They Tell Your? Or What You See?”, put together perhaps the most extensive indictment of how the ruling class is lying, and manipulating and stealing from Americans.
Quinn, who is an accountant and financial strategist, provides an in-depth and reliable analysis of the true state of our economy from jobs to auto sales to real estate to the deficit and debt, gratis to the American public. To miss this article, to scan it and not digest its meanings, would be to lose a critical insight into America 2014.
http://www.zerohedge.com/news/2014-12-11/should-you-believe-what-they-tell-you-or-what-you-see
.
Propaganda does not deceive people; it merely helps them to deceive themselves.
- Eric Hoffer
Tell that to a child born and fed sophisticated manufactured lies from day 0.
matrix is not suited to destribe reality.
the real world is way much more from the truman show.
Then turned into the Hunger Games. The fancy dome works for both of course.
Academia has been stocked with FED/Fractional Reserve Banking disciples for DECADES
Is that Eric Holder's quote? Sure seems like it with all the BS he spews.
“Very few beings really seek knowledge in this world. Mortal or immortal, few really ask. On the contrary, they try to wring from the unknown the answers they have already shaped in their own minds – justifications, confirmations, forms of consolation without which they can't go on. To really ask is to open the door to the whirlwind. The answer may annihilate the question and the questioner.”
Ann Rice The Vampire LestatWhat's $303T divided by 8000 tonne
If it's still there?
$1.18 million per .9999 oz
Another problem is that people start out wanting the truth, but once they realize the truth is a moving target which requires patience and effort to examine without much benefit in the form if PAY or SOCIAL APPROVAL. And sometimes friends and family will shun a truthseeker ( as many begin their search in intensive fits and bouts which are irritating or overwheling to the person doing the seeking and by extension those around him)
Thus ....people seeking the truth (at most 5% of people) often give up , sometimes temporarily sometimes permanently.
However, the long term realities of life for the 95% are themselves a very important truth. The 5% livin the same basic world as the 95%. They simply adjust their focus differently. And focus and perspective are perhaps most of the very essence of what distinguishes us , as psychological persons, from one another.
I completely agree, some of the most educated people in my life still to this day live with their head dug deep in the sand. Economic, financial, and political education(s) among others have one main purpose ~ keeping ones intelligence dumbed down into the box that TPTB built from birth. Try talking to these same people about Putin's Russia, the facts that surround the bullshit western sanctions, and the slow but sure de-dollarazation that is occuring across the world and the same propaganda pills shine through their 'educated' discussion as well. ~ 'The greatest trick the devil pulled was/is convincing the world he doesn't exist'
Propadanda works because the Truth stings like a mother-fucker.
The truth unleashes the negative energy pent up in a state of cognitive dissonance in the the subject in question. Feel free to chime in CZ.
Hip, Hip, Hooray for the Republicans. You know, the party of small, limited goverment.
We are SOOOOOO screwed when this thing implodes.
With all due respect, I think you fail to see that the screwing of American taxpayers is a bi-partisan effort. My Congressman is Jim Himes, a Democrat and the sponsor of this bill. His mentor and sponsor is Sen. Chris Dodd, ironically the co-author of the supposed "reform Act" (Dodd-Frank) that this bill was supposed to clarify.
The log-rolling goes on. You didn't think the election would change anything, did you?
Republicans have made it clear that they are the political "Fluffers" of Wall Street.
Fluffers, far too respectful, they are all cocksuckers..
democrats too.. fake L vs Fake R... all theater man..
http://192.168.20.1/webfilter/blockpage?nonce=ddcdcb7c2f4c3bc8&tid=5
Lewis Black on DEMS & REPUBS
both blumenthal and malloy got in via electoral fraud