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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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They needed a distraction like the government shut down to sneak this one it. They probably purposely designed a shut-down show-down to cram this down. Just like when they passed the Fed Reserve Act over Christmas of 1913.
it amazes me that wall street scalped the best quants and computer engineers in the world but they can't see the glaring risk they just allowed themselves to be exposed to. if they know they can risk it they will risk it.
btfdyfa
Wiemar, wo bist du?
Woke up this morning to what I thought was a babbling brook. No, it was some old coot trying to piss on my cardboard box.
Time for tumbrills and guilletines.
screwed again, what's new?
looks like a great opportunity for a "reset" and a single world currency.
upset with Repub's gifting the Treasury to Wall St? Upset at Dems for being socialist.....dont be upset, start by recognizing we are already in a one party system, governed by unelected people, appointed by both parties. Fed Reserve/Banking party.
The gruesome history of the guillotine
The first use of the guillotine for executions was when it severed the head of murderer Nicolas Pelletier on April 25, 1792. The guillotine did a notoriously brisk business during the Reign of Terror 1793-1794.
According to guillotine replica site Bois de Justice, “It is estimated that over 10,000 people lost their heads to the slanted blade in those two years. Lesser and lesser crimes became punishable by death as the struggling Revolutionary Government attempted to quell internal unrest while fighting a war against all the other European nations.”
After losing his crown, Louis XVI lost his head to the instrument he had approved for use on January 21, 1793. His widow Marie Antoinette followed him to the guillotine on October 16, 1793
http://www.crimelibrary.com/blog/article/the-gruesome-history-of-the-gui...
The Cleveland Show "Die Hard" was the best. Hans stole a 27" TV.
The Constitution has been torched because since the FED and the Banks run America now everything is either done by executive order or by direct advice from the Cronies themselves. America was built on our Constitutional rights, America has been hyjacked...
“If the American people ever allow private banks to control the issue of their currency first by inflation then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered... I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people to whom it properly belongs.” Thomas Jefferson
Bank of America, weren't they supposed to be the "bad ones"? Shiiit, they ain't small timers, they come in second place.
Fuck that, my signature is not on that contract. Not a legal binding contract. Enjoy paying it off, those who signed the document.
Black Swooooooon.
Go ahead and roll the Cyprus dice. You’ll see the largest banking run in history.
http://www.nakedcapitalism.com/2013/03/the-cyprus-file.html
I think not.
https://www.youtube.com/watch?v=OBRnj3FIFXE
"We General Akbar'd some folks." - Choomster
Here we go back to fog a mirror get a loan. Free money for all.
Yea a, what be my paymex for dat house.
US taxpayer assets on the move........or is it the LAPD deploying new squad cars ?
http://rt.com/news/213747-latvia-us-armored-vehicles/
Why yes, there is a big difference between freedom and democracy (government of, for and by the People) and totalitarian fascist (government of, for and by the multinational corporations).
Members of Congress are TRAITORS to all Americans and should be arrested and tried for Treason to the American People.
In the case of revolution, Congress members are going to be on a deck of cards with a bounty on them; think about that Congressman!
"WHAT? Wait a minute...What do you mean "Your pension money is gone?" How can my pension be gone?"
"WHAT? Fuck Congress. What do they have to do with my pension?"
"NO. YOU hold on...I'm coming down there..."
It begins.
I'll be sure to pay my share back as soon as my government check gets big enough that I have some left over at the end of the month.
All the Republicans out there who voted for these clowns are getting what they deserve. Too bad they are taking the rest of us down with them.
Like there is any difference between the clowns on both sides of the aisle.
Time to end the 2 party system and get some competition in there.
Oh dear,
The new Republican House majority hasn't been sworn in yet.
Now what? Who can we blame?
I can only think of 10 out of 435 who have clean hands.
Oh dear. That would be a Democrat majority voting...
But with those numbers...meh, who's counting. Why bother.
sharonsj: All the Republicans out there who voted for these clowns are getting what they deserve. Too bad they are taking the rest of us down with them.
Yea, you're right, because the Nancy Pelosi's and Harry Reids and Obummer and Holder will save us all from the big bad republicans.
Christ, (rolling eyes), more red team blue team bullshit.
DId you bother to read the article?
From the above ZH 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.
More on the former Squid and Democrat:
"Representative Jim Himes first caught our attention when he helped push through a bill written by CitiGroup lobbyists. As it just so happens, CitiGroup is also Rep. Himes’ #1 financial backer"
"Himes co-sponsored and helped push a bill called H.R. 992 through the House. 992 would further deregulate derivatives, a financial instrument that played a major role in the 2008 crisis (source)."
https://represent.us/action/operation-moneyfumble/
stop paying your taxes is the only reasonable way to change the system. Starve the beast.
There will be no economy and no way to pay taxes soon.
Stick a fork in it - the TPTB are ready to turn the US Taxpayer into the biggest BAGHOLDERS in human history.
What Can't Be Paid, Won't Be Paid = Consequences...
The Political Worm always turns.....and it will again, as
Past is Prologue.......
This is the "Greed Equilibrium".....whereupon through their own Greed and Arrogance they bring on the very result they sought to avoid....
had to log in just to down vote disengage. and reward him with the dumbest comment of the day prize.
His real name is disingenuous
http://usawatchdog.com/big-banks-will-take-depositors-money-in-next-cras...
im ambivalent about the recent directives by these big banks to their institutional depositors, to take their deposits out of these banks. on the one hand if banks holding large deposits are more concerned with their retail customer that is a good thing, and if a large depositor fails, that brings the bank holding their money into question too. on the other hand it sounds like the banks are telling their big depositors to get the hell out before they get bailed in along with the (suckers) retail customers, who own their collateral (as opposed to just renting it like the institutions) and if only five banks are going to survive, then you want to have your money in one of those five. just as it became obvious in 2008 that citibank was going to the head of the class (and Merrill BOA were not) this isnt cyprus, this is the cbs tellings small banks if you get in trouble you have to bail yourself in, and some either can't or won't do that, so a lot of them are going to fail this time around. ultimately if the fed raises interest rates, the smalls will eat shit and die, (which will make the wall street banking lobby very happy) because their world will be the S & L crisis on steroids, competitive consumer investor rates and no way to lend that money out to make money. i guess thats it, the smalls have to die and the cus, without the ability to make sb loans have to die as well.
CITI just closed my local branch, and when i went in i found out they aren't transferring the people, they are LAID OFF. if more big banks are all doing this, there is a lot of consolidation going on. CITI was a (government) preferred bank in 2008.
So the mighty FDIC is going to cover the banks ass on derivatives with their $50? billion dollars. I can't figure out how much money they have from their web site but they spend 3 billion a year pretending to back stop the financial black hole that has been created. When this shit goes down they will have a fight on their hands for sure.
https://www.fdic.gov/about/strategic/budget/expenses.html
I would like to post this notice to the U.S. government
The full faith and credit of the U.S. Citizens has hereby been revoked.
P.S. Fuck You and the horse you rode in on
> $193k per employee in compensation expenses alone. Disgusting.
dup
trip
Those guys are doing better than the hedge fund managers. They make 12% on what they manage every year plus a life time of benefits. I'm sure that it's filled to the brim with spawn from the banker clan. Tyler should do some work on this parasitic bureaucracy.
Senator Warren and Rep Maxine Waters tried to hold the line on this Omni-Fuck and force the House to remove the Citigroup amendment and the increase in campaign funding. Unfortunately they were outnumbered by the bankster's butt-boys (on both sides fo the aisle) in the House and the bill went through.
https://www.youtube.com/watch?v=H20Dhc85OhM
https://www.youtube.com/watch?v=jXsq35GIUy4
If Maxine Waters can see through this bull shit it gotta be as obvious as it gets.
Huffingtonpost
"They almost pulled off an upset, but Waters said the joint efforts of Obama and Dimon peeled off enough of her supporters to pass the bill."
Obama + Diamond = the Antichrist
Dumb ass Waters is just falling onto the coattails of Warren
And the only reason for that is because her name came up next in roll call
Either way, Warren has no chance when Omanoman sells out so easily
I think most of us know the next crisis will be largely a currency crisis. CLEARLY they are paving the way for a new currency and more control. What else would they be doing? It's pretty obvious.
The system will not crash. That would be like saying that the rich and powerful will lose everything and join everyone under the overpass.
There will be some very hungry people waiting for a hand out for a share of long pork.
The correct term is long pig.
or a no currency, or bitcoin crisis. if somebody comes up with a transaction only currency the central banks are done
"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"
This makes me think that Washington DC is preparing for something big. I am not sure what this $1.1 trillion spending allowance really means in the real world, but it is frightening enough in specualtion as to what it may mean.
How can we taxpayers be obligated to pay for someting a tiny ruling elite inside Washington DC command us to be obligated for? This violates the letter and spirit of the constitution and of all common law. By doing this as a favor to Wall-Street, we have a dictatorship of the financial elite. This is a form of Communist Revolution from Above, aimed at a dictatorship and destruction of markets, being replaced with dictates of a Supreme Soviet, unelected, of Bankers, Government Officials and the Fed.
So, why do we accept this? Nobody cares. We are like the Irish when they were gang raped by their banks.
The cheezy-poofs must flow.
If the cheezy poofs ever stop flowing there will be a new Govt, constitution, state security, currency, lie-support apparatus and banking system in USSA.
Until then, nuthin.
So they have issued survival kits, militarized the police, and put their thumb on grandmas insurance money. They are getting ready to pull the plug so hold on to anything solid in your world or take a ride down the drain.
My lawyers at AK, AR, and Glock say that I am not responsible for any of it, as I didn't contract for it.
They also say that I cannot be held to the "social contract," as the other party, the DC US, is acting criminally outside the bounds of the Constitution which is the "social contract's" foundation.
Sorry Charlie.
An American, not US subject.
kchrisc: My lawyers at AK, AR, and Glock say that I am not responsible for any of it, as I didn't contract for it.
Got a birth certificate and a SS #, you are "contracted". LOL Try to undo that. Go ahead.
My guys at AK, AR, and Glock say, "Ney, ney, no way."
They say the Constitution has no provision for a National Bank, and that gold and silver are the only money recognized. All of the DC US' FedRes issued debt is null and void.
But I will send it up to my "Supreme Court," of Life, Liberty, and Property for further adjudication.
An American, not US subject.
"Freedom begins as an idea that matures into an attitude, becomes an expectation, then a demand. Freedom is a demand. What do you demand?"
Hey man, I got nuthin' against ya. You just need to realize you were BORN into the system and registered like a fucking motor vehicle. Once you realize that you'll be ok.
I remember when Hank P..PPP...P..Paulson only needed a measly $700 billion from the taxpayer to "fix" things (or else there'd be martial law)...
Ahhhh.... the Good Ol' Days...
To me this reads in two ways.
Banks continue to chaampion their approach of privatizing gains and socializing losses. That much has not changed during the Great Recession years.
Having said that, I continue to be amazed at the utter carnage these banks have done. Where they get off being casino banker with the people's deposit money is incredible. Much of this can be attributed ot the repeal of Glass-Steagall.
As an options trader, I find it outrageous that banks are allowed to engage in any selling of puts or other exotic contracts which are equivalent to the selling of puts. The bank had no fucking business selling puts on oil or any commodity based contract with resources other than the institution's own captal (not the people's). Natrually this is timed with the timing of the oil derivative contracts coming due where the banks have underwrittent the insurance on the selling of oil contracts with the expectation that oil's price would not move agaisnt them which it has as the seller. Then when these cotnracts get put to them, they get put to us the taxpayer and there are no resources anywwhere on earth able to shoulder this insurance load. This is speculation run amok, they get away with it because most folks do not uunderstsand the gravity of the risk these banks took.
That this was seriously proposed and approved by Congress is outrageous, but I am willing to bet most did not realize what they had just done. Of course when that becomes appareent, they can always pass another law to hirk the responsibility. BUt these big banks have become unhealthy to the united States od America, no one told them they have to play the options game, but they do it anyway, they lose and then look to others to bail them out. Sick we allow them to get away with this.
"We"??? kemo sabe??
THEY, please.
70% of Congress work for the CIA. So does POTUS and the SCOTUS.
POTUS, SCOTUS.
You forgot S C R O T U S !
Yes and no need for them to even bother with marking to models on their derviatives portfolios.
Most folks do not understand the gravity of the risk ? Not exactly, the muppets have been warned repeatedly and still clinging on to the shares and bonds in the likes of Citi and some even begging for more from the snake oils that ooze out of these places.
Endeavor to persevere..... https://www.youtube.com/watch?v=rsL6mKxtOlQ
http://video.pbs.org/video/1302794657/
I do not like to post links which are excessive in length. However, this one is about an acquaintance of mine and is extremely pertinent to today’s subject and today’s calamitous financial situation. I advise all interested in the truth to at least skim through it or research Brooksley Born on your own.
Thanks for that link/tip.
Kchrisc and i have the same legal representation note that ho's
Am I reading this right? The Citi version says...
"The prohibition in subsection (a) shall apply...."
But the congressional version says...
"The prohibition in subsection (a) shall not apply..."
They literally say opposite things, and it sounds like the CITI version was actually better for the constituents based on my limited reading of what was presented in this blog post.
You got it like written! How did Billy define the word "is" when playing with Monica?
Sorry nuubee, but you did not read correctly because you seem to have stopped reading before you were done.
Citi version: "The prohibition in subsection (a) shall apply to any covered depository institution unless the covered depository institution limits its swap or security-based swap activities to:" #'s 1 & 2, etc.
Congressional version: "The prohibition in subsection (a) shall not apply to any covered depository institution that limits its swap or security-based swap activities to the following:" #'s 1&2, etc.
This is a fucking heist, plane and simple -- the theft of our money and our future by the banks on a mind-boggling scale. When it all goes belly up we'll be paying this off for the next thousand years. Debt slaves, all of us, forever. These greedy selfish fucks are going to ruin everthing for everyone... except themselves of course.
I enjoy reading the posts, but always skip the ones which were obviously written without proof reading first, and also skip those which were written by foreigners who haven't learned how to properly use English grammar.
I thank those who take the time to write meaningful and well thought out posts.
Note my friend: English is spoken only in limited circles in Britain and nowhere else!
hehe "proof reading"?
This is a conversation.
Go jerk off to some English grammar book or something.
wanker.
These psychopaths won't be happy until they are snug in their bunkers while the rest of us are playing Survival of the Fittest.
Do not imagine these people 'obtained' the wealth to live in a hole. It's a different ... ethos. Looser shmucks will live in holes in the ground, but they and their entourages will be living in Rancho Palace, or Caribbean Castle.
This is not news or surprising or new or change. It's obvious to the red pill takers that TPTB will continue their tyrany by enslaving the masses.
Quote
...Taxpayers Are Now On The Hook For.... The answer is simple: STOP BEING A TAXPAYER!SECEDE OR DIE...I know most of you still give your consent to being taxed...and controlled....and mannipulated. But you don't have to.
The whtie racist boomer garbage VOTING MAJORITY won't let that happen. People squeal about "Jew" this and "Jew" that. Was it really the Jews?
It's the boomer garbage. After EVERYTHING that has happened, they lie to each other and themselves.
They're the almighty entitlement group. There is no group larger and dumber than this group of idiots. The Beatles were smart enough to capitalize from it.
All you have to do is tell them all to do drugs and take other people's money and you have their vote. This group is so stupid that they BRAG about their side effects.
It's like, "I take testosterone shots and metformin man- those shits will stop the man from taking me down! Now let them border brothers in with my glass. I've got my Xanax riiiight here! What did I tell you? I paid into medicare my whole life, the doctors will take care of me! My girlfriend/sister just got botox for migraines and I'm buying a secondary property and flipping it for double because a twister struck here. Lemme have a hit of that bong-power to the people bro'! I know, maybe we can smoke some shrooms from Tibet and invent a currency backed by nothing to use to con people out of their money- duuuude!"
You mean Zio - Jews are victims of the Zio hate machine.
Really? Did we honestly expect anything less than this from our congressional whores and their whoremasters the banksters?
God we are so fucked I seem to recall a few other instances where bankers swore some position or another was a hedge, no, no, of course not speculation, a hedge./
When the day of reckoning comes, what will society look like? What will businesses look like, large and small?
Will ANY business be able to procure their products? Will any household be able to get the necessities it needs to function? It doesn't look promising.
So while the banks think we taxpayers will bail them out, they, too are living a pipedream. It might say on paper that we taxpayers bail out the banks, but the reality is there won't be any taxpayers.
Thus the banks will become as poor and hungry as the rest of us. They might have more gold than us, but the challenge will be finding anything to buy with the gold. You can't buy what isn't there.
So who voted yes or no any article like this should include who voted how?
Or does anyone know an easy way look this up?
Here's a link to the vote record:
https://www.govtrack.us/congress/votes/113-2014/h563
Thanks for the post I was looking for that one myself.
In light of this ever present hammer, isn't it odd the confidence exuding from nearly all politicians? Save for Dr. Ron Paul and Bernie whats-his-name, they seem to be just as confident as ever that we are on the right road. Bill Clinton especially who, signed the last bill that sealed our fate, is so philosophical about the past and present. Oh he wants to help the helpless...yes..he talks a lot about that. Waxing and waning on and on about how much he did right but failing to mention the one thing he did wrong that cancels everything else.
The derivatives may be Samson Option part 1.
Can't squeeze blood out of a turnip. They'll just use the digital zero machine and say it's our problem but we have no way to pay for it so who gives a flying rat's fucking ass? Everyone will get fucked when the big crash comes not just us.
I like to play Monopoly too.
already doing it
China buying into 30 percent shares on mineral leases (US gov nationalizes, then leases)
http://blogs.wsj.com/deals/2012/03/06/chinas-footprint-in-us-oil-a-state...
Observe all major US cities. When were most skyscrapers built? Many era 1929. Age of infrastructure: ditto.
Obama's loan program was a racket. Chinese might as well submit shopping lists for parts and patents, paid for by us.It was a slush fund to shear the sheep
Fiskar sold to Wanxiang for 149 mil. its 192 mil gov loan sold to Wangxiang for 25 mil. A123 battery created to sell batteries only to Fiskar, of course fails and also sold for chump change
http://dailycaller.com/2014/02/18/blackburn-to-obama-stop-funding-green-...
Foreclosure sheep shearing is repeat of 1930+.
Read The Fruits of Graft by Wayne Jett. Roosevelt made Americans turn in their gold for bucks. Passed a bill gold mines had to sell to Treasury. After gold was converted, passed bill devaluing the currency 40%. Meanwhile used tax dollars to buy gold overseas, but the dollars did not return to the US, due to trade wars, thus drying up currency supply and credit. According to Jett, and he is good, that is the real cause of the Depression. At one point the Treasury held the largest gold reserve in the world while people were in food lines. Roosevelt owned the press. Find one movie from the era that did not make him a hero of the little people, whom he shafted.
Our standard of living has shrunk. Home ownership shrinking.
Heres a good one. 2007 Chinese buy 10% stake in Blackstone
2012 Blackstone begins buying US homes
2013 blackstone buys stake in Chinese mall
2013 Blackstone has spent $2.5bil buying homes in the US
2014 http://libertyblitzkrieg.com/2014/03/14/blackstones-home-buying-binge-dr...
2014 Blackstone buys stake in chinese implant maker etc
Can we say transfer of wealth?
You shear the sheep. Let the pelt grow out a little. and shear it again
And Warren Buffet's good for a piece of the action too:
According to court documents, the second amended Joint Chapter 11 Plan, approved on December 13, 2013 allows for the liquidation of hundreds of billions of dollars worth of homeowners’ mortgages to legendary business billionaire magnate—the fourth richest man in the world, according to Forbes, Warren Buffett’s Berkshire Hathaway, Inc. and Ocwen Loan Servicing, L.L.C.
The bankruptcy terms allows Berkshire Hathaway and Ocwen to purchase over $400 billion worth of mortgages and RMBS trusts for less than $5 billion. Once these mortgages are sold, Berkshire Hathaway and Ocwen will be bankruptcy remote. That means that once the mortgage assets are sold to them, American homeowners, like Morse, will not be able to obtain, through discovery, in judicial proceedings, the documents pertaining to their mortgages to determine if there is an issue with their property’s chain of title or verify if there is a free, clear and legally traceable ownership of their homes.
In effect, mortgage records of millions of American homeowners would be destroyed.
Snip from: http://www.msfraud.org/ny-judge-in-largest-bankruptcy-case-in-history-re...
Anybody else have Bershire Hathaway Real Estate signs springing up like daisies in their neighborhood?
ZH won't let me up or down vote you. Here is my upvote.
What to do...what to do?
http://ellenbrown.com/2014/12/12/bail-in-and-the-financial-stability-boa...
Hey man, keep voting. LOL.
Keep paying the slave tax, or something like that.
Welcome to the new "Bagholders R Us" Club - your all new members.
That mustn't be the club Carlin spoke of then.......cause we are all in it (except those in the other club)
And for those that even have the smallest bit of faith in the Government of The United States,here's a friendly reminder of the size of the debt,and Obuma (The Kenyan President) will drive it to 20 Trillion by the time that whore is finished office.Wake up America,your majority of your politicians are scum.Where have all the grown up war protesters gone?
http://demonocracy.info/
https://www.youtube.com/watch?v=_d8C4AIFgUg
we fleeced some goyim.......again
There are not enough nail guns.
There isn't enough money in the FDIC kitty to bail out the customers on just one Wall St Bank. Leveraged Bail-outs to support leveraged Fraud
The American sheeple are asleep and will be fleeched by Citi,J P Morgan, Wells Fargo and Goldman Sachs.
Left to die in the cold by the Too Big to fail banksters when the derivative bets fail.
It's naive in the extreme to think that the US taxpayer hasn't been "on the hook" all along, this new bill not withstanding.
Seeking Atlantian innovator to keep the speil working. Must be comfortable working for negative net income, in a hostile environment.
Can you see?
somebody said it here. tick. tock.
Presenting this tax-slave's response:
Hahahahahahahahahahahahaaaaaaaaaaaaahahahahahahahahaaaaaaaaaaaahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaahaaaaaaaaaaaaaaaaaahhaaa
!
Oh, and fuck you!
Fuck that..you have better chance of Ben sticking his dick in Yellens ear and yelling four, before I'll pay for this shit.
Yes. This usually has the same ending: Rows of people holding various objects in opposed positions facing each other across temporarily erected barriers.
I suspect that this is an issue that divides both parties.
For the Dems, I suspect that the Hillary wing is on the banker/donor side, the Elizabeth Pochahontas Warren wing is on the leftist smash capitalism side.
For the Repubs, I suspect the Establishment/Crony Capitalist side lines up with the banker/donors, and the Tea Party/Conservative/Libertarian camps would like the bankers to make an honest living without taxpayer charity.
So, the question is: which prospective GOP presidential candidates to be would be most likely to oppose taxpayer guarantees for inept or naughty bakers?
Ted Cruz?
Rand Paul?
Marco Rubio?
Scott Walker?
others?
It divides the One and Only Party. The Legislative Branch of the US Gov't.
And what is "leftist smash capitalism side" about calling bullshit on private profits and public losses for creditors? American exceptionalism has come to mean Capitalism and the Rule of Law applies to everybody except the Banks and the Gov't.
The more this goes on, and the more of capex leaves the US, the harder Karl Marx is laughing from the grave.
Pay attention. I'm trying to educate you.
"American exceptionalism" means "free market capitalism".
"Rule of Law" applies to everybody, including Banks and the goverment.
People like you want to allow the Banks and the government to believe that Crony Capitalism is the same as Free Market Capitalism.
It ain't and you're wrong.
I don't see that Warren wants to smash capitalism; only to riegn in banksters. We had 20+ years of laissez faire capitalism with Greenspan/Rubin/Summers et al, who fought tooth and nail against regulating anything. Thanks to them the derivatives market was left completely unregulated, letting the banksters run wild, and getting us into the mess we're in now.
every politician has his price and the banks have endless funds. the
people have to take this matter in their own hands. I see no other
solution.
Your reality is convincing. We have passed the point of no return relative to the ability of the World wide financial system to be reformed. Somewhere after 1970 and culminating with Favored Nation Status for China, NAFTA, and monetary union in the EU all the financial sanity bridges were blown behind us. There is no going back and there is no fixing anything.
The financial system is on a perpetual march forward with debt based banking and Central Banks conrtrol. People will have to take matters into their own hands if and when the system implodes. That possibility is unknown to all of us.
Unfortunately true. I'd say maybe Cruz would be most likely to resist, but that may only be until they sit him down and explain the facts of life. I had hopes for Rand Paul, but I believe he's already made his kiss ass pilgrimage to Israel and gotten his marching orders, same as Fauxcohantas has.
Fuck this shit. I ain't payin' for dat garbage!
Aw c'mon. We can print our way out of that with one hand tied behind our back.
Since critical thinking has brought me here to ZH, I decided to take the theme of "question everything" a step further. I have now begun questioning the meanings of everyday nouns like Quantative Easing and its implied subconscious anagrams. There are many anagrams of QE, such as Navigate Antiques, Again Native Quest, Vagina Quasi Tenet and other fun ones lol!
Try it for yourself at wordsmith.org (not a plug) and see what hidden meanings you might find in any word or sentence.
Feast before famine.
Rothschild Controlled Central Banks ~ Japan, Europe, Switzerland Fraudulent Derivative Debt
http://investmentwatchblog.com/rothschild-controlled-central-banks-japan-europe-switzerland-fraudulent-derivative-debt/
government is the problem. Someday, probably to late like other sleepers, you'll realize that.
The number is mind boggling representing 20 years of GDP. Looking forward to an upgrade from Moodys and Fitch.
I don't recollect any wording in our Constitution declaring that Congress will subsidize the bankers' gluttonous ways...I'm all for the American people to crowdfund ISIS and send them with razor sharp knives to Congress...
Just like the D & R paradigm - the constitution is an illusion to keep you chasing your tail while they plunder and murder at their pleasure. Yeah?
The too big to fail bunch of banksters can get away with murder, fraud, coercian, harrassement of the general public and any other illegal activity under the sun because they have a lot of influence on the political class, the rule makers and the rule enforcers due to their enormous purchasing power. So irrespective of the position in the government, everyone works for their benefit.
The politicians around the world are nothing more than auction items which can be sold to the highest bidder. They will do whatever they can for the lobbyist paying them the maximum amount of money or votes, be it the unions, the banksters, the richest corporations or individuals. They are in the power seat to extract maximum advantage for themselves in the small time frame they occupy the seat of power.
The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.
http://www.marketoracle.co.uk/Article40231.html
The population is an inconvenience. There is a mad race to replace human workers and design slave robots. This way they don't have to deal with all their complaining and unionizing and waaa-waaa bullshit. Why do you think Google (i.e. the agency in Mt. View) bought Boston Dynamics? It is all part of the long-term plan to avoid the rabble rousers. The liberal-loons are all part of that plan - bootlckers make the best workers. You right-wingers are just trouble with your gunz and gold and constitution bullshit.
Indeed but obedient humans are still cheaper than material cost for self-upgrading, self-repairing robots.
Derivatives are about 125% of the GDP and climbing, now who will pay when this all turns to shit? And the people in Ferguson riot over a black man being killed while a whole fucking economy is being systematically raped such that future generations will have no chance at a decent life. Unfuckingbelievable.
ummm..gross derivs of 303 tn v gdp of 17 tn = c. 1800% (18 times GDP)
i'm a little curious as to who owes the big 4 the 80 billion in profits the big 4 are claiming.
presumably its corporate pension schemes or corporates or..... the Fed?
also, 303 tn would have what impact if the yield curve flattened with short rates up 3% and the long end up 1% OR the yield curve gapped up or down 1%
There is a big difference between freedom and democracy (government of, for and by the People) and totalitarian corporate fascist (government of, for and by the multinational corporations).
All exceptional and indispensable psychopath fascist dream of EMPIRE and ruling the world by grand tyranny.
Members of Congress are TRAITORS to all Americans and should be arrested and tried for Treason to the American People and our Constitution.
In the case of revolution, Congress members are going to be on a deck of cards with a bounty on them; think about that Congressman!
After JFK "they" couldn't afford to have another POTUS (or SCROTUS or CONgress-person) not with the program at the agency. Today you are ruled by the stasi in wolves clothing. Carter wept for a day when he understood he wasn't in charge. Reagan got shot and got with the program else his agency counterpart in GHWB would take over as they had originally wanted. Ever since Reagan, there is no chance for an "outsider" to take the office. Barry and his family are all part of the club. It should be very clear to most that votes out of CONgress are meant to serve the agency and its corporate slaves. You are fooling yourself if you think CONgress cares about what the people say anymore. Mardux. TMWSD
Thats why now all propespective candidates make their pilgrimage to Israel. Including that awesome speech giver Fauxcohontas. I wonder if they make all of them sit through the Zapruder film and explain how this could just happen to them unless they play ball. Sure, go make your speeches denouncing 'wall street' and the 'greedy bastards', but don't act on any of that or we'll have to dig up an Oswald to look you up. Talk is cheap - say what you need to to get elected, we understand that.....but take any action and you will have some extra holes in the ol' noggin........
Carter was such a good-old-boy scout that they trusted he would roll over when they told him. He tried telling the people in coded speeches. Something about a malaise on the land (i.e. the agency and their grip on power). It was quite laugable to hear Obola rage against the insurance companies as he was helping CONgress write them a nice new $80B / year subsidy. What a nice guy looking after the "folks". Given him an ice cream cone and lets take pictures with Warren Buffett.
What can you do against a group with the ability to remove view in time? What do you do against a group that is willing to make any sacrifice? Granted their sacrifices tend to be of the form of a new war to slaughter a few million new "folks." What do you do against a group with unimaginable tools like untraceable deadly toxins, cancer agents and heart attack guns? Not much. A few insiders have said there are untouchables out there, indigos and violets they say - people they dare not strike - people that they make sure are comfortable and have no reason to rage against the machine. They know this from remote viewing. They also have a life-long training program that starts in childhood looking for the GATE kids and kids who are the untouchables.
Much as I dislike and disagree with Pochantas Warren, I think she has made the establishment/crony Republicans look like jerks over the government guarantees for risky investments.
If the Republicans weren't the stupid party, they would say "By golly, Lizzie's right on this one and we're glad she agrees with us. Get the government out of the business of guaranteeing bad hedge fund investments."
If it was only a trillion I'd be worried :-)
That big a number ensures that it would be wiped/erased by some regime scheme because otherwise such a large debt would interfere with the politician's freedom to spend govt money on vote-buying programs.
The federal debt is not going to be repaid in full, just rolled-over and monetized, and interest payments made at FED-crushed rates, so this is all just a tempest in a tea pot.
ONLY 0.3 quadrillion? Wake me up when it's measured in giga-trillions just for starting units of measure.