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Ron Paul: "It Is Estimated That US Banks Have Over A Trillion Dollars Tied Up At-Risk With German And French Banks"
From Ron Paul
European Debt Crisis Threatens the Dollar
The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as reserve currency for the world, and the US Federal Reserve's status as the lender of last resort. As we've learned in recent disclosures, this has not only benefitted companies like AIG, the auto industry and various US banks, but multiple foreign central banks as they have run into trouble. Nothing has been solved, however, by offering up the productivity of Americans as a sacrificial lamb. Greece is set to be the first domino to fall in the string of European economies at risk. Rather than learning from Greece's terrible example of an over-consuming public sector and drowning private sector, what is more likely from our politicians is an eventual bailout of European investors.
The US has a relatively small exposure to overwhelmed Greek banks, but much larger economies in Europe are set to follow and that will have serious implications for US banks. Greece is technically small enough to bail out. Italy is not. Germany is not. France is not. It is estimated that US banks have over a trillion dollars tied up in at-risk German and French banks. Because the urge to paper over the debt with more credit is so strong, the collapse of the Euro is imminent. Will the Fed be held responsible if the Euro brings the US dollar down with it?
The most disingenuous aspect of the narrative about the European sovereign debt crisis is that entire economies will collapse if more resources are not bilked from productive people around the world. This is untrue. Tough times are coming for the banks, to be sure, but free people always find a way back to prosperity if the politicians leave them alone. Communities within Greece are coming together and forming barter systems because they know the Euro is becoming unstable. Greeks are learning how to engage in commerce with each other, without the use of fiat currency controlled by central banks. In other words, they are rediscovering what money really is, and they are trading with each other in ways that cannot be controlled, manipulated, squandered, inflated away and generally ruined by corrupt bankers and the politicians that enable them. Farmers will still grow food, mechanics will still fix cars, people will still make things and exchange them with each other. No banker, no politician can stop that by destroying one medium of exchange. People will find or create another medium of exchange.
Unfortunately when politicians try to monopolize currency with legal tender laws, the people find it harder and harder to survive the inflation and taxation to which they are subjected. Bankers should take their dreaded haircut rather than making innocent people pay for their mistakes. The losses should be limited and liquidated, rather than perpetuated and rewarded. This is the only way we can recover.
Government debt is often considered rock solid because it is backed by a government's ability to forcibly extract interest payments out of the public. The public is increasingly unwilling to be bilked to make bankers whole. The riots and the violence in Greece should tell us something about the sustainability of this system.
If we continue to bail out banks and bankers so they can continue to lose money, if we cavalierly put this burden on the taxpayer, it is all too predictable what will happen here.
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We need to run for office get elected, help him get it done.
Gary Johnson certainly would help get things done
Likable guy, not respected.
A VP doesn't get shit done. It is the members of the House and Senate that "gets things done" and it is OUR job to elect individuals that will back Ron Pauls principles and ideals. If they don't then we vote the bastards out.
Depends on the VP. Cheney got a lot of shit done, just ask the boys at Halliburton.
Ron Paul / Jesse Ventura? I like Ron Paul / Roddy Piper better.
Ron Paul / kim kardashian... (lets appeal to the [dumb sheaple] masses)
Ron Paul/Rue Paul
I dont see having a disgusting gigantic ass playing well at the polls.
Or speak like a valley girl. What's with this trend anyway? Everyone speaks like that as if it raises their stature. Where instead it lowers their IQ.
voting doesn't work. the system is broken. how can we control our candidates when we do not control our own money systems.......?
I like Napolitano, very articulate (and animated) speaker who doesn't put you to sleep when talking politics. Lets not kid ourselves; stage presence is half the battle in this kind of business.
Can you imagine Napolitano debating Obama? The judge will knock Obama's socks off. Obama will need a live Oxford debater with three teleprompters to even stay in the conversation.. What a sight that would be.
Napolitano should have his Ipad with this clip:
http://www.breitbart.tv/the-c-span-lie-did-obama-really-promise-televised-healthcare-negotiations/
I'm more intrigued by Jim Grant as Fed Chai, Jim Rogers as Treasury Secretary & Bruce Fein as AG. I could see him appointing Napolitano Solicitor General on deck to SCOTUS.
As for VP, the only candidate in GOP even close to him is his son. Mitch Daniels would be kind of tolerable. If he's 3rd party as I expect him to be, I'd like to see Kucinich.
LOL! Judge Napolitano in the Supreme Court, Ron Paul as president, Jim Grant as fed Chairman, Jim Rogers as treasury Secretary... it would be like dying and going to heaven.
…All the beneficial effects of a currency that is allowed to expand with a growth of population and trade were now turned into those evil effects that flow from a currency emitted in excess of such growth. These effects were not slow to develop themselves…The best families in the empire were ruined, a new set of men came into the control of public affairs
Read more: Fiat Currency http://dailyreckoning.com/fiat-currency/#ixzz1dichj1cA
wtf kucinich
I think Paul-Kucinich beats Obama-Biden & Newt-Ryan.
@ DoChen's first comment in this thread.
I will retire from this skirmish at this point. Ron Paul is the best no doubt, and I hope he wins. You have seen my arguments FWTW. I do not see ANY easy way out of our mess. Ron Paul is the only one who can get us out of the hole, but it will be very hard, and he probably would lose in a re-election (because of the short term pain inflicted).
If we get anybody else other than Ron Paul, we will just have THAT MUCH MORE PAIN, depending on who wins and what policies come along.
Peace.
Newt's a neo-con, war-mongering, Israel-firster. If holy water ever touches his 'flesh' he'll vanish in a flash of sulphur.
BJ, I believe your line ..., "If holy water ever touches his 'flesh' he'll vanish in a flash of sulphur.", could be used in reference most incumbants in Washington. Good One.
yep, in my eyes he is a traitor and deserves to be hung on the gallows..........
Bumper stickers will be issued
We have had enough lawyers in the White House
Let’s put a physician in this time!
America needs it
Ron Paul 2012
LOL, RP would never pick Newt.
Gary Johnson would be a better pick.
do his gold purchases count as insider trading? Wouldn't surprise me a bit if uncle benny and cousin tim thought so.
If you and everyone else can see an anvil falling from the sky to land where you are standing, is it insider trading to step aside? It is not your fault if the other people think the anvil is made of marshmallows.
He has been a gold investor for years.
He doesn't trade. He doesn't have to trade. All he owns are miners, all of them if you look at his disclosure.
Ron Paul. Never heard of him.
He's the guy Jon Stewart ripped on the media for not covering, which caused the media to replay clips of Jon Stewart, laugh at themselves, then promptly go back to ignoring him.
People don't want to hear all that fancy talk about smart things. Dancing with the Biggest Loser in New Jersey Idol is on.
No, me neither. Never even seen him on CNBS.
Never even seen him on CNBS? Can't buy a better endorsement than that!
So...you're a regular republican voter? Figures.
Huh?
I'm a registered [I] in a closed primary state.
My "choices" are as follows:
- Mitt (I can talk for hours and not say anything) Romney
- Herman (I can't remember any of my peccadilloes) Cain
- Rick (I stand for my core principles but can't remember what they are) Perry
- Michelle (I do a mean corn-dog) Bachman
- Obama (I'm not sure if thats his first or last name) Barack [sp?]
I'll be writing in this mysterious and obscure Ron Paul fella...
Depending on the state, it may not be too late to change your party registration...
This was sarcasm by the way.
I'm just a frustrated Ron Paul supporter, wondering why regular republicans don't seem to hear what I'm hearing Ron Paul say.
Sorry if I sounded snippy. It's hard to tell what's sarcasm and what's not any more. The whole world seems to have a chip on it's shoulder these days. Me too. I've also been using more foul language than ever. I need to tone it down.
Ahhh...fuck that.
Ron Paul rules.
and people thought it was crazy when Paul said the FED was involved in bailing out Greece. Turns out he was correct in addition to predicting the FED bailed out foreign banks during the crisis
Paul catches Bernanke in a lie about bailing out foreigners
+ 1
Good digging b_B.
When the Euro falls, the dollar will spike and that's the cue to back up the truck to the dock for the shiny shiny. Looking for a double bottom for AU in the 1570 neighborhood. FINAL SALE !
A serious question if perhaps a naive one: What would say the bottom for Au in Euros will be or has that train come and gone already?
My honest and humble opinion:
In EUR, any bottom to come is so close to the current prices of Au and Ag that you won't see the difference as soon as people start trying to buy the shiny stuff in bigger quantities.
I appreciate that. Thank you.
@ augmister
You may very well be right! If gold goes to $1570-ish, that may be the last time you EVER see a low price (for physical anyway). I am so glad that I have been buying "poco-a-poco" for decades. But, if "they" throw one more final sale, I will take advantage of it...
A voice in the wilderness, that mainstream media seems to ignore.
We need more like him...!!!!
Well, the whole country, including media is about to be baptized whether they ignore him or not.
Let's all gather at the river.
http://www.youtube.com/watch?v=ty9G_LNWFqo&feature=related
Dear Ron Paul, I'm sorry the Amerikan people are so fucking dumb and don't listen to you. All of us that understand the truth know they will be on our doorsteps begging at some point. I will get no greater pleasure than turning them away. I am compassionate, but not to ignorance.
I am the 10%.
"I am the 10%." LOL. if you weren't so ugly i'd kiss you.... oh,,, what the hell, come here sugarlips
The two of you are making me hot!
I will take no pleasure in turning them away.
The same people that mock you for liking Ron Paul? The same people that don't care to learn about fractional reserve banking? The same people that don't have gold and silver because they were out maxing their credit cards at Nordstroms?
Fuck those people. They aren't your friends until it is convenient.
Amen Sister!
By the way, how many raped you "Freddie Kruger" style to impregnate you with RobotTrader?
It was actually a chimp, during a backpacking excursion through Africa. Hence, Robot looks like me but has a hairy neck.
Sorry about that baby. Did you like the flowers?
And because they've gotten their food and Nordstroms unearned, they "concluded that affection did not have to be earned, either. [They] concluded that we were the safest people in the world to spit on, precisely because we held them by the throat... let's get it straight: they're objects of charity who exhausted their credit long ago."
- Hank Reardon (aka Ayn)
Robo...you are straight killing it right now! Keep em coming.
+ 1 XitSam
There will be a lot of hurtin' people because they did not pay attention or decided to otherwise make bad choices. I will take no pleasure watching our citizenry suffer either. I will stay in more...
It's why media ignore Ron Paul is pointless. If Ron Paul not elected this election, things get worse anyway and sets stage for dangerous next president after Romney (unless he follow Ron Paul direction, seems to be taking some Paul talking points).
Fucking media do your god damn job and show the people Ron Paul. It's your chance for sane world whether you believe or not. Do your fucking job. People find news now from other source so not so dependent on television debate, but still hear some say "who?"
Dick's Teaparty support Cain, LOL!! Yeah right. You go Dick.
testify!
what a beautiful article
OT: OT
OT: OT
Since we are always on the topic of banks, I don't consider this too far off topic. Has anyone noticed that cc bills are coming every other month to those who pay regularly so that fees may be added......or is it just me? Lately, it is like I am missing the mailman or something. No bills so no checks get written. Suddenly, there is that bill but it is already a month overdue! It seems like I am calling the bank to get that fee removed just about every month. I know for a fact that Dishnetwork does this routinely as I have spoken to several friends who have had the same experience. Anyone else? Just asking.
Dishnetwork is a bank?
I thought we said to kill the TV.
And this my friends is why everyone should vote for Ron Paul, a man of principle
But, I want my president to have nice hair! And a big smile! And can read from a telepromter better than anyone else! And I really want a president that can lie to my face with a big smile!
I don't want Ron Paul...I want a red/blue, sociopathic, teleprompter-reading, big-haired, big-smiling, piece-of-shit politician.
Ask and you shall recieve!
Don't worry, you'll always get your wish.
Large round numbers ("over a trillion dollars") are usually PFR. Does anyone have a link to resources that can more precisely describe US Banks' exposure to Euro-debt?
The TBTF themselves cannot "precisely describe" their exposure to Euro-debt. If you were to double whatever they admit to you may be in the right neighbourhood IMHO.
Thank god US banks are lending!!!! But not to the US folk...
+ 1 Good to see you around Sudden!
The LAST thing I want is to get into debt...
I found another great thing that came out of Belgium, Image-Line. I stimulated your economy a few weeks back.
BOA keeps sending me balance transfer offers now that I paid off all my credit cards. They want to lend to people, but only those that do not want (or need) it.
I get these letters almost every week now + the 2 week.y phone calls.
I got one from visa a few weeks ago, that was hilarious:
The girl on the phone asked me if i was intereted in a loan for something extra...
After her speech she asked if i wanted to receive a offer from my local bank.
Now, she sounded cute so I just said yes.
Her answer: he? Are you sure?
So i said: you don't sound like you really got to sell it today he? I sure hope you don't get paid with the amount of loans you sell
She: i hope so to!
I just started laughing and so did she :)
It was funny.
Unfortunately, Ron Paul has no chance of winning this election. America only responds to a disaster, which is what is coming.
Good discussion from a member of the younger generation about leaving this country after 2012:
http://www.ftense.com/2011/11/2012-election-romney-vs-obama.html
Let's see, 16 state straw polls won this year, 3 in second (very close seconds), and a spattering of third place finishes. Only Herman "My star is fadding" Cain has come remotely close to matching the win, place, show ability of Paul.
I guess you are right though, he has no chance of winning. Straw polls are worthless. As Bill O'Rielly has said, "Ron Paul's supporters are energetic and well organized. He could never win." /sarc
http://en.wikipedia.org/wiki/Straw_polls_for_the_Republican_Party_presidential_primaries,_2012
He's delivered over 4,000 babies
Yeah, politics seems to be like jury selection. If any potential juror has life experience in the matter being tried, he is passed over.
Otherwise, there'd be no need for lawyers (in either case).
Ron was voted "Best All Around" at Dormont High and hit the only out of the park home run ever in the annual congressional baseball game.
Audio version:
http://www.youtube.com/watch?v=dnQjowmlGCQ&feature=youtu.be
Ron should pick up the mantel of cleaning up CONgress. No insider trading. All rules apply to them. If SS is good enough for me and my workers, it is good enough for them.
The real issue is not letting 2012 go by with the current cabal still safe in their ivory tower(s).
If I can't vote for somebody I believe in then I'll write TD. You can bet that I will not be voting for Romney or Obama or Perry or ... or ... or.
From 2009:
http://www.nolanchart.com/article6397-status-report-ron-pauls-audit-the-...
"Well, Dr. Paul has tried this variants of this theme multiple times before over the past 30 years. For instance, HR 1148 was introduced in 1999 to abolish the Federal Reserve and obtained a whopping zero co-sponsors. This was repeated in HR 2755 in 2007. Result? Zero co-sponsors."
This read takes longer than 89 seconds...
Let me sum it up in 4 words : TANKE FUR DIE DOLLARS!!!
Not until the fed is backstopping/buying the Euro and their bonds. That is the end game and it can be no other way.
I'm still holding out for an IMF printing press. Though that may not be until after WWIII (clear the books first, then start over fresh).
Dank u voor de Dollars.
Jammer dat de gulden weer niet.
De gelukkige tijden had ik in Nederland, het drinken van de verboden vrucht bier van België ...
Not even RP mentions CDS??
He does when he says "derivatives" are one of the reasons for the bailouts and TARP, etc.
Unfortunately, $1 trillion at risk may be an UNDERstatement! I could be much more!
This is Ron Paul’s third try to save his country. This try may be the country’s last hope. It reminds me of the ironic example of the man “waiting to be saved” :
A man caught in a terrible flood climbed on top of his house to avoid the rushing water and prayed to God that he’d be saved.
A few minutes later a boat came by and offered him a ride. “No, thank you,” he said, “I trust God to rescue me.” A few minutes later a helicopter flew overhead and dropped down a rope ladder. His response was the same.
Finally, another boat came by and offered to help him, but no, he was waiting on God.
He was eventually lost in the flood, and in Heaven asked God why he didn’t save him. God replied : “I tried three times!”
Excellent comment JR!
+ $55,000
He was eventually lost in the flood, and in Heaven asked God why he didn’t save him. God replied : “I tried three times!”
Where I come from that had a different punchline ....
Heh, what could possibly go wrong? (/sarc)
Sooooooooo totally freaking screwed we all are.
What a breath of fresh air.
If you want to put an end to the continual bailouts of the banking sector, then turn to your fellow politicians who have the power otherwise just like any other politician out these words are meaningless.
The path is clear in what we need to do, it's the politics and control of money (aka central banking) that prevent us from doing what's needed to be done.
He's right of course, the banks can fail and free people will get on with it. That's not what's going to happen though - my avatar is happening, globally.
Any wonder why BoA did the switch-a-roo to a fdic insured arm ?
Only guy to make sense.
libertarian86.blogspot.com
You don't need insider information -- just history -- to know the "likely outcome". Dr. Paul is a student of history like no other! This is going to be very ugly in th endgame!
The Euro is still overvalued. It has plenty of room to drop.
Compared to what standard? Flexible fiat?
(I know, I know, "gold standard")
Nov 23. deep fry banksters, spare the turkey.
Thats gotta be GROSS exposure, NET reported ...$2
Alfred E Newman 2011 and beyond.."What Can Possibly Go Wrong?"
Ron Paul just turned up the volume.
http://www.counterpunch.org/2011/11/14/big-finance-moves-in/
A trillion? hehe. Ron's being coy. He may be only half aware of what the German and French banks were doing with WS banks for the last 3 decades. You looking for a Ponzi? THAT is the world's greatest Ponzi of 'em all: they made it look like they were doing brisk business, when all they were doing was passing paper to one another back and forth, pyramiding at every step along the way. We need a quadrillion dollar bill minted fast.
Sheeples have no idea what is in store for them. Got to go. Repeat of American idol is on.
How much did the FED use to bail out the European banks after the MBS/Lehman crisis? Wasn't that something like $2.3 trillion ... and they paid it back, right.
The thing about banks is that if nobody ever thinks that they have to be "real" companies, with a real balance sheet that cannot simply be adjusted to fit the need of the day, they have no problem. If they have a default, no big deal, it can easily be corrected by changing the balance sheet with a few keystrokes.
That is the benefit of an economy based in the 8th dimension. No one ever needs to be aware of the keystrokes not visible to mere mortals.
$1 trillion? That was the amount of the Europe bailout recently, by the FED backstopped by the oh-so generous and productive US taxpayer...I'm guessing the actual exposure has to be 10X that at least.
Ron Paul's time is coming with the next financial crisis. That's when people will realize they need solutions, not politicians.
When the sheeple finally turn to Ron Paul it will be far too late for him to save them.
I sometimes wonder how on earth RP gets out of bed every day....not to mention actually participating in those so called debates. I think my head would explode.
What's ironic is that unless the inevitable crash happens before the election, which it very likely could, the next president will be at the wheel when it happens, and that guy is in for a world of shit. If Ron Paul is at the wheel, and the crash hasn't occured before he's elected, his policies will be blamed, even if they lay the groundwork for a solution. If the crash happens before the next election, which probably will enhance RP's chances, the next president will still likely take the blame for the pain we'll be going through. Either way, the next prez is going to have a tough row to hoe.
Too bad that their solution will be war, and rioting for more handouts.
The good ole Welfare/Warfare state, the gift that keeps on giving.
Click one of the 'Thumbs Up' to see who won the CBS debate poll by a wide margin:
http://www.cbsnews.com/8301-250_162-57323832/who-won-the-gop-debate-take...
and no media, not even CBS, reported on this phenomenal win.
Thanks - the margin just got wider. Must be very frustrating to poor MSM that the herd is not only NOT cooperating but might just bolt.
Thank you CBS for depriving the ignorant masses of this rational and hopeful message. I know you know what's best, and that contrary to what the polls say, sheeple prefer to hear Huntsman and Santorum (~1% each) to crazy Uncle Ron.
I think the MSM knows that if Ron was given more than 89 seconds, he'd actually be able to address the flawed PREMISE of all their talking points, i.e. you don't need to debate "body-armor funding" if you're given a chance to articulate why soldiers shouldn't be abroad in the first place!
The more the others talk, the more they stick their collective feet in their mouths. Thanks MSM for doing RP a favor!
The elite will not be happy until they have their neo-aristocracy where you have to be born into wealth. They have been planning all of this for a long time. Join the rebellion, or accept your slavery.
Read:
http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref
done for today, go get a hooker.
Ron,
SAY IT!!!!!!!
Use the 'R' word and not '---"all too predictable what will happen here."
And---What's this 'haircut' you are talking about?
THE BANKS LOST THEIR CAPITAL-----and have colluded with your government to tax the people that they always
CHEAT AND LEGALLY ROB
because OUR government wrote such beautiful laws and enforces them for a privileged few(including the government, but not the people)
SAY IT, RON!!!!!!!
LOUD AND CLEAR SO THAT IT IS CALLED WHAT IT IS AND NOT BLAMED ON 'DEMOCRACY' OR 'CAPITALISM' two items unknown in this country since 1980.
Jus SAY IT, BROTHER!!!! We will stand behind you or anyone who can just SAY IT!!!!
om
I'm 100% with you in support of Ron -- I'll be writing him in if he doesn't get nominated... but I have to correct this:
We haven't had capitalism since at least 1913, and we've never had democracy -- America was founded as a Republic (and that Republicanism was also undermined in 1913 with the 17th amendment).
Thank you Progressives for laying the groundwork for this collapse.
Rag,
This oldman is here just to keep the train-wreck-in-the-making easier to view---he is not a serious dude.
If he chose to be impolite, which he does not choose to be, he would simply say 'stick your fucking labeling up your ass'.
This oldman cannot be labeled by simpletons----he's a wildflower and will grow whereever he is found, and
there are many of us on the outside looking in at the madness of trying to put so many names and labels on life without living it.
He thinks what you are trying to say is irrelevant and this is all the time that it will receive from him--unless you can come up with something interesting----something that is not the same old stuff that all those others say
SAY IT, RAG!!! SAY IT!!!!
I don't have so much time left and you are going to miss me and my cohorts when we're gone om in the first person
Wow. There was no label directed at you... however, I will now be labeling you "senile" because you couldn't comprehend my post.
the reference to "Progressives" was regarding the group of people who, at the turn of the 20th Century, decided the Founders fucked up and "they" knew better. Hence, the 17th amendment and the adoption of a central banking system. The "label" Fabian Society could also apply because they were members of that group as well.
If you refuse identify the culprits, then how can you possibly erradicate them?
At first, I thought you might be different, but unfortunately you've exposed yourself as a typical unthinking old man so I won't be missing you or your cohorts because it's your generation (along with the Boomers) that refused to stand against the tide of Statism. Your generation went without a fight into the bondage of a welfare state -- your generation has accepted Social Security checks knowing full well that some future generation will be stuck with the bill and none of the benefits when the Ponzi scheme collapses.
I'm sure it's convenient now though, to vote for Ron Paul -- and the Individual -- now that you've enjoyed the fruits of a socialist system. But you're clearly senile so you'll forget this thought... right about... now.
do nothing
to Americans
if you still vote for any of the bank-sponsored candidate rather than someone who is not (e.g. Ron Paul), you ask for it, and you have no one to blame when the smell material hit the fan.
i emailed this article to everyone on my contact list. i know what's coming. i know why, i know who did this, i know the scam & fraud that's been perpetrated on the American Citizens for the past 100 years. i know things the average person doesn't even begin to comprehend. I wake up in the night & pace the floors. i know what's in store for my kids & grandkids ....... i know we are going into the Second American Revolution to cast off the parasitic FEDERAL RESERVE BANK & their EUROPEAN OWNERS. I know way too much for a dumb housewife & NONE OF MY FRIENDS & FAMILY EVEN CARE .... they just want me to shut up. ( p.s. the truth is found on the internet / do your own research & be prepared to defend your Constitutional Liberties. )
When I am up pacing at night -I feel your angst. It's like we are connected -spiritually, emotionally. Next time you are up pacing, suffering anxiety, thinking that no one understands or cares - know that you are not alone. I care -yes -Savy-In Dallas cares. Tell your deadbeat husband to pull his head out and take care of your emotional needs. If not, let's get together. I'll work out some kind of arrangement with my wife.
Peace to you. In many ways the gift of wisdom and knowledge is such a curse. The sheeple seem so much more content -but they are getting a little restless and concerned about the wolves roaming around the flock in sheep's clothing. Funny how large strange looking sheep devouring your friends tends to raise suspicion.
sometimes i stay up late too when i go down and check out the skirt and drink yiddish coffee at starbucks........
the problem is that our forefathers did not stop this when it happened. as time went by it got stronger and things got worse. my great grandfather gave the gift to my grandfather. my grandfather gave the gift to my father. my father gave the gift to me. now i am supposed to give the gift to my children and the gen x and gen y generation and i ask why . why should i do this? i do not want to do this. they looked the other way and did nothing. i do not want to be the same. a "gift' such as this is not worth giving. it is a curse. the vietnam war generation is sick of this shit and wants to help. the young people in this country must wake up and soon..........
I hope you are not including our original founding forefathers in this group. They must have all turned over in their graves long ago.
Romney and Paul '12.
That's a more realistic ticket to push Jug Ears and that mindset out of the White House.
Paul and Romney, maybe. However, Paul would not select Romney. It would require the voice of the delegates at a brokered convention to accopmplish that combination.
Does this include/exclude the CDS exposure ?
Americans have two choices:
1. Elect Ron Paul
2. Be dummkopfs
From which Tim Geithner supposedly draws the conclusion at the APEC Summit in Hawaii last week that the primary reason the EU needs to get its act together quickly is to save the global economy. Yea right Tim. We know who you’re out to save, and they have little concern for anyone’s economy beyond the East and West Hudson River.
http://gregor.us/transport/the-great-american-false-dilemma-austerity-vs-stimulus/
Big picture sucks though, given the choices, I still side with Ron. I guess I really don't think things can be fixed within the system any more.
Wow, That Ron Paul tells it like it T I Z. Thanks Mr. Paul for letting us know how corrupt the world is. I would of never known this with out you.
US financial institutions bought and sold bad mortgages on a gamble that home owners wouldn't default on their mortgages (2002-2008). US financial institutions bought bad European debt on a gamble that Europe wouldn't default (2011) on those obligations.
What we have are US financial institutions doing EXACTLY what they did on the lead up to the 2008 derivative/housing debacle. It's inconcievable to me that these idiots would go and do the SAME DAMN THING with European debt but apparently they have. So the question becomes, what do they think is going to happen when things fall apart (again)?
One definition of insanity is doing the same thing over and over and expecting a different result every time. Are they so arrogant that they've cast all reason to the wind (again) because they expect US Taxpayers and the Fed will bail thier sorry asses out (again) or are they literally insane? I really don't know anymore.
IMO it's highly likely that US financial institutions bought and sold bad mortgages on a gamble that those unqualified homeowners would default on their mortgages whereby the banks et al would foreclose and resell those same homes for even more.
Corzine too thought he was getting a steal on those sovereign bonds.
And things will fall apart again with the college loan scams (jobs...what jobs?) that these same institutions are delving in now. The horror of this one is that these squids have already thought ahead and by law made it impossible for students to ever include these loans in bankruptcy filings.
Oh dear, only in America could one get away with something as ridiculous as saying Germany will need a bailout and that the self-rated, but still only AA+, US's problem is its banks' exposure to safely AAA, not-needing-to-print-bucketloads-of-currency-to-keep-itself-going Germany.
A bizarre thing to say just to make a (valid) point about not bailing out banks. I've heard about appealing to "nationalism bias" as a politician, but this is extreme. Seems to be working on this board though! In that light, perhaps this Paul character really is a very smart man.
While I've got you all offside by attacking the "white knight", can I just note that you're bombarding us with articles on the death of the euro here Tyler, but I still am yet to see a single one that convinces me that the EZ will print or that some euros locked up in some Northern European bank account probably won't buy more USDs in a year's time than they do today. Please put some subtle message to me in the title if you do in fact manage to find and post one capable of showing this.
If we continue to bail out banks and bankers so they can continue to lose money, if we cavalierly put this burden on the taxpayer, it is all too predictable what will happen here.
Yes, they'll keep on doing it till US dollar is worthless, and no, nobody will stop them, no revolution, nothing.
America won't be saved. Save yourself.
I'm a RP supporter but I believe he makes a minor but important error in this article. I sure over half of all US banks DON'T have significant exposure to Europe. However, US banks with over half of all assets do. In other words just a small number of huge too big to fail banks are putting us at risk. Mom and pop banks across the country with $100 million to $1 billion or so of assets are not exposed. Other than that it's a great article.
Pull the plug and let the damn bankers and the complete mess go down the drain; with 7 billion people on the planet, I'm sure others can figure out something that is viable, fair and just. These jokers have been at the helm for too long; like the Titanic, this ship is going dooooown...
I find it odd that so many of us pin 100% of our hopes on Ron Paul, a soon-to-be octogenarian. ( I'm in my 70s so no 'age-ist' bullshit please). If there is truly nobody younger who can "save us' then we are simply not salvagable. And maybe that's OK - we did have our chance, and we did blow it big time.
BTW - Ron Paul/Elizabeth Warren
Rand Paul-- btw -I love Elizabeth Warren.