flying Posted October 20, 2011 Share Posted October 20, 2011 (edited) Hope the FDIC prevails. This is more evidence that the Bernake is dirty. I don't know that there is anything wrong with the valuation of the derivatives but its suspicious and nevertheless improper to burden the taxpayer with the risk of the derivatives which should be outside the scope of an FDIC insured banking function and precluded by their regulations. An after the fact loading of the public backed banking division with that black hole of derivatives (even though the derivatives values may be fair and ultimately profitable as I have seen to evidence to the contrary) needs to be stopped and the banksters slapped silly for doing it. The Bernake Always reminds me of that cartoon....It was a good cartoon though +1 on all you said though. It is true they continue to transfer great wealth to TPTB & pile the cost of their bad gambling debts onto the citizens futures. I would like to either see folks start voting from rooftops or abandon the system altogether. Both would achieve the same results....roughly. Although the 2nd option is best & easiest. If a majority will just step away from the casino & refuse to play the game any longer. Refuse both the banks, the markets & the government of that which they need to tick. It is not hard to do. Edited October 20, 2011 by flying Link to comment Share on other sites More sharing options...
Pakboong Posted October 20, 2011 Share Posted October 20, 2011 Bank of America Takes Accounting Fraud A Step Further If you keep your money at Bank of America, you are an idiot. BAC quietly moved $53 trillion in derivatives from its holding company to its subsidiary that holds $1 trillion in customer deposits and is insured by the FDIC. If any part of these derivatives blow up, the Taxpayer will then be on hook for the $1 trillion in deposits. I said 8 years ago that we would eventually see things go on in this country that blow your mind. This is one of them. Although this kind of move is permitted to a very limited degree by the Federal Reserve Act, there is no way in hell that the loophole was intended to permit $53 trillion of shit to affect FDIC-insured deposits. Of course, the watchdogs who are supposed to prevent this kind of abuse are the same people who benefit from allowing it to occur. That the BAC upper managment would be so completely devoid of ethics and do something like this is a tragedy. That Bernanke, Geithner and Obama would allow BAC to do this is a testament to the fact that our system is collapsing.. Details from Bloomberg.... BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit I was going to post this but you beat me to it. Looks as if the New FDIC rules have already come home to roost. Hard to beat a fixed game. Link to comment Share on other sites More sharing options...
midas Posted October 20, 2011 Share Posted October 20, 2011 Houston, We've Got A Problem - Bevilacqua http://www.zerohedge.com/news/guest-post-houston-weve-got-problem-bevilacqua Link to comment Share on other sites More sharing options...
cloudhopper Posted October 21, 2011 Share Posted October 21, 2011 This is very deflationary - http://www.zerohedge.com/news/student-loan-bubble-exceed-1-trillion-its-going-create-generation-wage-slavery-and-another-taxp Link to comment Share on other sites More sharing options...
cloudhopper Posted October 21, 2011 Share Posted October 21, 2011 Good interview with Reggie Middleton re sovereign default and B of A, Link to comment Share on other sites More sharing options...
jamescollister Posted October 21, 2011 Share Posted October 21, 2011 Hi all, been reading this topic over the years and to say I am not much the wiser would be an understatement. So for a simple fellow like me, are we going to have another GFC. I live in Thailand and make my living from rubber plantations. Now rubber is falling in price and just like when the GFC hit, there gets a point when it is not worth the effort to produce, Then it's all tools down and wait. Trouble with that is I will have no income, end game and back to OZ for life on the dole. What's going to happen, collapse or recover. Jim Link to comment Share on other sites More sharing options...
cloudhopper Posted October 21, 2011 Share Posted October 21, 2011 Hi all, been reading this topic over the years and to say I am not much the wiser would be an understatement. So for a simple fellow like me, are we going to have another GFC. I live in Thailand and make my living from rubber plantations. Now rubber is falling in price and just like when the GFC hit, there gets a point when it is not worth the effort to produce, Then it's all tools down and wait. Trouble with that is I will have no income, end game and back to OZ for life on the dole. What's going to happen, collapse or recover. Jim I don't know what's going to happen, but the current deflationary trend would not seem to be helpful to commodity prices in general. In the longer term as oil prices inevitably rise in real terms I would think a rubber plantation would be an excellent asset. Link to comment Share on other sites More sharing options...
midas Posted October 21, 2011 Share Posted October 21, 2011 (edited) I have been laughed at so many times on this thread for what appears to some as nothing more than conspiracy theories when I have posted how the police and authorities are slowly but surely stripping away the freedom of American citizens. Look what's happening now! How many warning signs do you need in the USA that there is a slow and silent coup d'état occurring by the authorities? the story of the frog in the boiling water immediately comes to mind. is it power to the government..or power to the people.... you can't serve two masters. next will you be getting the full monty pat-down at your friendly neighborhood NFL game? Tennessee Becomes First State To Fight Terrorism Statewide http://www.newschannel5.com/story/15725035/officials-claim-tennessee-becomes-first-state-to-deploy-vipr-statewide Edited October 21, 2011 by midas Link to comment Share on other sites More sharing options...
jamescollister Posted October 21, 2011 Share Posted October 21, 2011 Hi all, been reading this topic over the years and to say I am not much the wiser would be an understatement. So for a simple fellow like me, are we going to have another GFC. I live in Thailand and make my living from rubber plantations. Now rubber is falling in price and just like when the GFC hit, there gets a point when it is not worth the effort to produce, Then it's all tools down and wait. Trouble with that is I will have no income, end game and back to OZ for life on the dole. What's going to happen, collapse or recover. Jim I don't know what's going to happen, but the current deflationary trend would not seem to be helpful to commodity prices in general. In the longer term as oil prices inevitably rise in real terms I would think a rubber plantation would be an excellent asset. Thanks for the reply, guess it really is toss a coin, heads or tails. Just seems that they [who ever they are ] can't get it settled one way or the other. Rubber is up and down like a fiddlers elbow, You can't plan one month in advance. Guess it's the sames with all commodities. I would rather the world went bust and started up again than is monthly up and down cycle. At least I would know where I stand. Jim Link to comment Share on other sites More sharing options...
JimGant Posted October 21, 2011 Share Posted October 21, 2011 Tennessee Becomes First State To Fight Terrorism Statewide: "Where is a terrorist more apt to be found? Not these days on an airplane more likely on the interstate," said Tennessee Department of Safety & Homeland Security Commissioner Bill Gibbons. Agents are recruiting truck drivers, like Rudy Gonzales, into the First Observer Highway Security Program to say something if they see something. Midas said: How many warning signs do you need in the USA that there is a slow and silent coup d'état occurring by the authorities? Gosh darn, there you go again midas, worried that good, hard-working Americans will be somehow inconvenienced by authorities. That the TSA is finally doing something not involving patting down little old ladies is refreshing. Certainly, the next underwear or shoe bomber is out there -- and the odds of identifying him before he gets into the blow up mode are slim. But, somehow I feel better knowing the authorities are trying. And I'm actually encouraged by the number of wannabe jihadists they've uncovered. And this, from today's WashPost, probably alarms you too: ACLU says FBI uses profiling against Muslims, other minorities: In one document that was highlighted, a 2009 memo in the FBI’s Detroit field office sought permission to collect information on Middle East terrorist groups in Michigan, noting that: “Because Michigan has a large Middle Eastern and Muslim population, it is prime territory for attempted radicalization and recruitment by these terrorist groups.’’ Imagine that. Concentrating limited resources in an area with 100% greater probability of hatching a terrorist. Christ, if the ACLU ever had its way (as well as some Right Wing idealists), several more US cities would have been toast by now. No, it's a new world. But the average, law-abiding American will not be affected. In fact, I would think the average American endorses increased surveillance. However, not too many "average" Americans on this forum, as I'm sure any responses will show. As for average Aussies? Well, midas, next time you visit the USA, I suggest you leave your Crocodile Dundee costume at home. Otherwise, you'll probably be reported by an observant truck driver.... Link to comment Share on other sites More sharing options...
flying Posted October 21, 2011 Share Posted October 21, 2011 Tennessee Becomes First State To Fight Terrorism Statewide Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. Benjamin Franklin Link to comment Share on other sites More sharing options...
JimGant Posted October 21, 2011 Share Posted October 21, 2011 Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. Ben is my favorite of the Founding Fathers. But the above quote was in response to the dictates of the British Parliament -- aimed at those who would roll over to these dictates to avoid a conflict. Giving up liberties -- to prevent a jihadist from destroying a city -- is quite the opposite, since the end result is a "good" for society -- not the "bad" of bowing to the British Parliament. Plus, the "giving up liberties" wouldn't even be noticed by most Americans, namely, the good guys. Link to comment Share on other sites More sharing options...
flying Posted October 21, 2011 Share Posted October 21, 2011 (edited) Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. Giving up liberties -- to prevent a jihadist from destroying a city -- is quite the opposite, since the end result is a "good" for society -- not the "bad" of bowing to the British Parliament. Plus, the "giving up liberties" wouldn't even be noticed by most Americans, namely, the good guys. Baloney You like some are under the impression that as American citizens rights & liberties are curtailed/given up that at some point they will be returned. They Will NOT be returned. Folks like yourself think you are doing the rest of us a great service by giving away freely that which was fought for by our forefathers. You are NOT. I am glad to say the majority of us do not agree with such nonsense.....Whether you want to call it The Patriot <sic> Act or any other form of removing our rights under the guise of protection/security. We don't buy it one little bit. You want to bend over go for it. Some like myself actually live in the USA & have no plans of bending over....Thanks anyway Edited October 21, 2011 by flying Link to comment Share on other sites More sharing options...
midas Posted October 22, 2011 Share Posted October 22, 2011 (edited) Gosh darn, there you go again midas, worried that good, hard-working Americans will be somehow inconvenienced by authorities. That the TSA is finally doing something not involving patting down little old ladies is refreshing. Certainly, the next underwear or shoe bomber is out there -- and the odds of identifying him before he gets into the blow up mode are slim. But, somehow I feel better knowing the authorities are trying. And I'm actually encouraged by the number of wannabe jihadists they've uncovered. And this, from today's WashPost, probably alarms you too: ACLU says FBI uses profiling against Muslims, other minorities: In one document that was highlighted, a 2009 memo in the FBI’s Detroit field office sought permission to collect information on Middle East terrorist groups in Michigan, noting that: “Because Michigan has a large Middle Eastern and Muslim population, it is prime territory for attempted radicalization and recruitment by these terrorist groups.’’ Imagine that. Concentrating limited resources in an area with 100% greater probability of hatching a terrorist. Christ, if the ACLU ever had its way (as well as some Right Wing idealists), several more US cities would have been toast by now. No, it's a new world. But the average, law-abiding American will not be affected. In fact, I would think the average American endorses increased surveillance. However, not too many "average" Americans on this forum, as I'm sure any responses will show. As for average Aussies? Well, midas, next time you visit the USA, I suggest you leave your Crocodile Dundee costume at home. Otherwise, you'll probably be reported by an observant truck driver.... it is very easy for you to mock JimGant but let me ask you how much personal experience or direct knowledge do you actually have of seeing the effects of repressive regimes for yourself? I have been to North Korea ( and I know you haven't because as an American citizen you can't even get a visa to go there ) and I've been to Cuba. I have been to the Tuol Sleng Genocide Museum in Phnom Penh in neighbouring Cambodia and I was in Vietnam only four years after the beginning of Doi Moi. perhaps if you saw some of these places with your own eyes and felt what it's like to be there you may have a greater appreciation as to why I am concerned about loss of liberties and freedom? Edited October 22, 2011 by midas Link to comment Share on other sites More sharing options...
midas Posted October 22, 2011 Share Posted October 22, 2011 (edited) Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. Giving up liberties -- to prevent a jihadist from destroying a city -- is quite the opposite, since the end result is a "good" for society -- not the "bad" of bowing to the British Parliament. Plus, the "giving up liberties" wouldn't even be noticed by most Americans, namely, the good guys. Baloney You can say that again flying! he actually believes this is to do with jihadists Edited October 22, 2011 by midas Link to comment Share on other sites More sharing options...
JimGant Posted October 22, 2011 Share Posted October 22, 2011 if you saw some of these places with your own eyes and felt what it's like to be there you may have a greater appreciation as to why I am concerned about loss of liberties and freedom? To equate executing someone for talking against the government -- with eavesdropping on a suspected terrorist planning a bomb attact -- is quite a stretch. That the US has the capability to investigate potential terrorists -- electronically, or otherwise -- doesn't exactly equate with "our liberties are in jeopardy." I doubt that I would ever become a "person of interest." But even if I did, nothing would come of it, as I don't believe there's a conspiracy to blackmail American citizens with data gathered for other reasons. But, of course, there are those who believe 9/11 was a US Gov't operation...so I can see where some folks can connect imaginary dots. Anyway, I do live 4-5 months a year in DC, so I am concerned that all is being done that is possible to thwart terrorists. Certainly that is more important than worrying about the Feds monitoring my Internet correspondence -- and knowing I've had dialogue with radicals such as flying and midas. Link to comment Share on other sites More sharing options...
midas Posted October 22, 2011 Share Posted October 22, 2011 if you saw some of these places with your own eyes and felt what it's like to be there you may have a greater appreciation as to why I am concerned about loss of liberties and freedom? To equate executing someone for talking against the government -- with eavesdropping on a suspected terrorist planning a bomb attact -- is quite a stretch. That the US has the capability to investigate potential terrorists -- electronically, or otherwise -- doesn't exactly equate with "our liberties are in jeopardy." I doubt that I would ever become a "person of interest." But even if I did, nothing would come of it, as I don't believe there's a conspiracy to blackmail American citizens with data gathered for other reasons. But, of course, there are those who believe 9/11 was a US Gov't operation...so I can see where some folks can connect imaginary dots. Anyway, I do live 4-5 months a year in DC, so I am concerned that all is being done that is possible to thwart terrorists. Certainly that is more important than worrying about the Feds monitoring my Internet correspondence -- and knowing I've had dialogue with radicals such as flying and midas. " I do live 4-5 months a year in DC " -enough said explains everything about your perspective Link to comment Share on other sites More sharing options...
Pakboong Posted October 22, 2011 Share Posted October 22, 2011 if you saw some of these places with your own eyes and felt what it's like to be there you may have a greater appreciation as to why I am concerned about loss of liberties and freedom? To equate executing someone for talking against the government -- with eavesdropping on a suspected terrorist planning a bomb attact -- is quite a stretch. That the US has the capability to investigate potential terrorists -- electronically, or otherwise -- doesn't exactly equate with "our liberties are in jeopardy." I doubt that I would ever become a "person of interest." But even if I did, nothing would come of it, as I don't believe there's a conspiracy to blackmail American citizens with data gathered for other reasons. But, of course, there are those who believe 9/11 was a US Gov't operation...so I can see where some folks can connect imaginary dots. Anyway, I do live 4-5 months a year in DC, so I am concerned that all is being done that is possible to thwart terrorists. Certainly that is more important than worrying about the Feds monitoring my Internet correspondence -- and knowing I've had dialogue with radicals such as flying and midas. IMO you are so incredibly wrong, I don't even know how/where to start a response. Link to comment Share on other sites More sharing options...
UphillStruggle Posted October 22, 2011 Share Posted October 22, 2011 The USA are proposing to let anyone in if they have $500k to spend on property. The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S. ... To fuel this demand, the proposed measure would offer visas to any foreigner making a cash investment of at least $500,000 on residential real-estate—a single-family house, condo or townhouse. Applicants can spend the entire amount on one house or spend as little as $250,000 on a residence and invest the rest in other residential real estate, which can be rented out. http://online.wsj.com/article/SB10001424052970203752604576641421449460968.html Link to comment Share on other sites More sharing options...
midas Posted October 22, 2011 Share Posted October 22, 2011 The USA are proposing to let anyone in if they have $500k to spend on property. The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S. ... To fuel this demand, the proposed measure would offer visas to any foreigner making a cash investment of at least $500,000 on residential real-estate—a single-family house, condo or townhouse. Applicants can spend the entire amount on one house or spend as little as $250,000 on a residence and invest the rest in other residential real estate, which can be rented out. http://online.wsj.com/article/SB10001424052970203752604576641421449460968.html great opportunity for the Mexican drug cartels to own a piece of USA Link to comment Share on other sites More sharing options...
flying Posted October 22, 2011 Share Posted October 22, 2011 (edited) I was going to post this but you beat me to it. Looks as if the New FDIC rules have already come home to roost. Hard to beat a fixed game. More on this subject Edited October 22, 2011 by flying Link to comment Share on other sites More sharing options...
Naam Posted October 22, 2011 Share Posted October 22, 2011 two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least... another attempt like several made since the '90s. all of them were nothing but lukewarm farts. Link to comment Share on other sites More sharing options...
midas Posted October 23, 2011 Share Posted October 23, 2011 (edited) To equate executing someone for talking against the government -- with eavesdropping on a suspected terrorist planning a bomb attact -- is quite a stretch. Aha but what's going on in the occupy movement right now is obviously only a transition - but a transition to what ? and isn't it funny that you never hear the likes of Obama or Hillary Clinton talking about America being a REPUBLIC -they only talk about democracy ? It's as if they want to hide the fact from the sheeple that America is actually a Republic ? fundamental difference ! Edited October 23, 2011 by midas Link to comment Share on other sites More sharing options...
flying Posted October 23, 2011 Share Posted October 23, 2011 about America being a REPUBLIC Good vid Yes I mention often the fact that we ...the USA... are a Republic Although it should be easy to remember as we say..."To The Republic For Which It Stands" in our pledge of allegiance. Also from the video I always like hearing what the forefathers said as it is very pertinent to today Also good to see Rome comparison as it is valid IMO Link to comment Share on other sites More sharing options...
cloudhopper Posted October 23, 2011 Share Posted October 23, 2011 Interesting graphic http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/10/who%20owes%20what.jpg Link to comment Share on other sites More sharing options...
midas Posted October 24, 2011 Share Posted October 24, 2011 Interesting graphic http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/10/who%20owes%20what.jpg ha ha ha ! And that uninspiring group of Euro " leaders " we see on our TV screens are expected to unravel all that ! Link to comment Share on other sites More sharing options...
midas Posted October 24, 2011 Share Posted October 24, 2011 Gosh darn, there you go again midas, worried that good, hard-working Americans will be somehow inconvenienced by authorities. Gosh darn, there you go again JimGant, brushing aside that good, hard-working Americans will be subject to the sinister agenda of the authorities. a quote from the Corrections Corporation of America Annual Report Link to comment Share on other sites More sharing options...
Naam Posted October 24, 2011 Share Posted October 24, 2011 Interesting graphic http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/10/who%20owes%20what.jpg ha ha ha ! And that uninspiring group of Euro " leaders " we see on our TV screens are expected to unravel all that ! what about inspiring them by submitting your solutions? e-mail me a copy when you do... i am interested too. Link to comment Share on other sites More sharing options...
midas Posted October 24, 2011 Share Posted October 24, 2011 Interesting graphic http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/10/who%20owes%20what.jpg ha ha ha ! And that uninspiring group of Euro " leaders " we see on our TV screens are expected to unravel all that ! what about inspiring them by submitting your solutions? e-mail me a copy when you do... i am interested too. I don't pretend to have solutions and neither should they be pretending to have solutions Link to comment Share on other sites More sharing options...
Naam Posted October 24, 2011 Share Posted October 24, 2011 about America being a REPUBLIC Good vid Yes I mention often the fact that we ...the USA... are a Republic Although it should be easy to remember as we say..."To The Republic For Which It Stands" in our pledge of allegiance. Also from the video I always like hearing what the forefathers said as it is very pertinent to today Also good to see Rome comparison as it is valid IMO i hate to break the news to you Flying but... the U.S. of A. is neither a "Republic" nor a "Democracy". look up the roots and meaning of both words. the root for republic is the Latin "res publica" and the root for democracy the Greek "demos" and "kratos". none applies! :jap: Link to comment Share on other sites More sharing options...
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