Financial Crisis

[flying]

Like Reagan?

Speaking of Reagan

Only you are speaking of Reagan...So basically your talking to yourself?

Edited February 3, 2012 by flying

[manarak]

Speaking of Reagan the darling dead guy of the tea party and the demigod of the republican party, no we don't need a resurrection of Reagan voodoonomics!

Why the GOP should stop invoking Reaganomics

http://www.washingto...mQ_story_1.html

“Low interest rates are generally a sign that money has been tight,” economist Milton Friedman wrote in 1997. Yet, absurdly, Republicans continually berate the Federal Reserve for being too easy; some even insist, insanely, that the United States should return to the gold standard, even though it was a key cause of the Great Depression.

I don't know why you whine about Reaganomics. I was just saying it is wrong to spend (too much) first, give the cash to the wrong people and then raise tax rates because fiscal revenue failed to raise due to the economy not growing as expected.

Edited February 3, 2012 by manarak

[BEENTHEREDONETHAT]

Here is a reflection of the peoples confidence in FEDS ability to handle the $$

http://money.cnn.com/2012/02/03/pf/states_currencies/index.htm?iid=GM

NEW YORK (CNNMoney) -- A growing number of states are seeking shiny new currencies made of silver and gold.

Worried that the Federal Reserve and the U.S. dollar are on the brink of collapse, lawmakers from 13 states, including Minnesota, Tennessee, Iowa, South Carolina and Georgia, are seeking approval from their state governments to either issue their own alternative currency or explore it as an option.Just three years ago, only three states had similar proposals in place.

"In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System ... the State's governmental finances and private economy will be thrown into chaos," said North Carolina Republican Representative Glen Bradley in a currency bill he introduced last year.

[flying]

Pretty funny & true...Here they seize Iran's money....Is there any actually in the US anymore?....But yet they really have done nothing

about any deceptive US practices at all.

US Seizes Iranian Assets Citing 'Deceptive Financial Practices'

These fellows in New York, Washington, and London hate to see any amateurs engaging in deceptive financial practices without an official license or the right markings.

When the Iranians get good enough to move past merely practicing deception into the big leagues of world class professional fraud, and start playing ball with the big boys maybe the Iranian central bank can sign up for the primary dealer slot recently vacated by MF Global.

It is hard to imagine that Iran even has any assets remaining in the US or in any of their foreign branches.

Also Bloomberg

http://www.businessweek.com/news/2012-02-07/obama-freezes-iranian-government-central-bank-assets.html

[12DrinkMore]

Here's a voice from the future!

This is a once off opportunity.

http://finance.fortu...eholder-letter/

This article is from the February 27, 2012 issue of

Fortune.

Edited February 9, 2012 by 12DrinkMore

[ronz28]

Bloomberg anchor said 30 minutes ago on Twitter:

margbrennan margaret brennan

Something happened in Brussels... private creditors & IIF called to early hour meeting....#greece

[flying]

Bloomberg anchor said 30 minutes ago on Twitter:

margbrennan margaret brennan

Something happened in Brussels... private creditors & IIF called to early hour meeting....#greece

EU finance ministers hold back Greek rescue pkg; New meeting set for Feb 15 #breaking @bloombergnews

[flying]

Starts at 13 minutes....... Interesting MF Global shenanigans

Edited February 14, 2012 by flying

[churchill]

Can Greece afford to spend $1230 per person on Military Spending .. Looks one of the highest in the world .

Want to cut the budget .. easy stop buying guns ....

http://en.wikipedia.org/wiki/List_of_countries_by_military_expenditures

[manarak]

Can Greece afford to spend $1230 per person on Military Spending .. Looks one of the highest in the world .

Want to cut the budget .. easy stop buying guns ....

http://en.wikipedia....ry_expenditures

no can do... the MUST be as strong as Turkey. otherwise they lose face.

[ronz28]

Six Trillion in fake US bonds seized. I wonder who the holders are? Will it sink the economy? We will know soon I hope.

http://www.stltoday.com/news/world/italy-confiscates-trillion-in-fake-us-bonds/article_1c451bdc-c9b9-529f-bdf3-85a2619c66a6.html

http://www.theaustralian.com.au/news/breaking-news/trillions-in-fake-us-bonds-seized/story-fn3dxity-1226274347089

[ronz28]

Sounds like no one was conned before the seizure. Maybe Italy could just declare them real and solve their debt crisis like Greece retroactively added a collective action clause by edict to their bonds to force a 50+-% haircut to all bond holders to get out of repaying their debts.

http://uk.reuters.com/article/2012/02/17/usa-bonds-forgery-idUKL5E8DH41Q20120217?feedType=RSS&feedName=rbssFinancialServicesAndRealEstateNews

[Naam]

Six Trillion in fake US bonds seized. I wonder who the holders are? Will it sink the economy? We will know soon I hope.

http://www.stltoday....a2619c66a6.html

http://www.theaustra...y-1226274347089

since when do fake bonds have holders or can sink any economy? by the way, the story is years old and it took at that time days to clarify the media mix-up that a US billion is not a European billion which is the equivalent of a US trillion.

by the way, US Treasuries used to be the most faked bonds and a number of banks were duped in the 70s and early 80s. but since more than 25 years bankers smile benevolently or laugh out loudly when some clown offers to deposit physical USTs as collateral for a loan or credit line.

[ronz28]

Yee of too much faith, a new sucker/taxpayer is born every minute and some become bankers and fund managers will buy worthless securities from banksters, but never fear, our governments will bail them out with our tax money.

Others will sink billions into Ponzi schemes like Madoff's and other scams like government issued bonds that are fully expected to pay off but somehow avoid repayment by fabricating a new law implementing collective action clauses retroactively to only pay one back half of what was borrowed. Still others say they lost our money from segregated accounts with their bad bets due to hypothecation.

So none of this baloney should happen, but no one seems to be able to stop it as the gangsters have the money and the losses have been socialized to burden the rest of us with losses, endless debt and taxes to pay for it.

Edited February 18, 2012 by ronz28

[churchill]

The rise of a new global power, Euroland....

http://www.leap2020.eu/GEAB-N-62-is-available-Global-Systemic-Crisis-Euroland-2012-2016-Perpetuation-of-a-new-global-power-on-condition-of_a9183.html

[Naam]

The rise of a new global power, Euroland....

and the crowning of €urop€an €mpr€ss M€rk€l by the Pope will be broadcasted worldwide by national television stations in more than 200 countries

[churchill]

Who knows .. Nobody knows ...

GREEK D-DAY: SLOG US SOURCE CONFIRMS WALL ST PLANS AS SECRET BERLIN TIMETABLE EMERGE

http://hat4uk.wordpress.com/2012/02/19/greek-d-day-slog-us-source-confirms-wall-st-plans-as-secret-berlin-timetable-emerges/

[flying]

Free Kindle Edition of The New Robber Barons By Janet Tavakoli

Sunday & Tuesday only....

Also no need for Kindle as you can download it onto a TAB like Galaxy or PC

Edited February 19, 2012 by flying

[Wrong Turn]

Flying thank you for this book! Janet Tavakoli is one of the people I follow. Tuesday, Asia time here? Or...Western time. Regardless, I'll try to get it on my kindle free of charge.

Cheers.

[churchill]

I wish her luck .. so many negative voices .. perhaps the majority are wrong ...

Iron Lady Merkel Bucks German Street on Greek Aid

http://www.bloomberg.com/news/2012-02-20/merkel-as-europe-s-debt-crisis-iron-lady-bucks-german-street-on-greek-aid.html

[12DrinkMore]

Words of Wisdom from Asia:

http://www.bbc.co.uk/news/busi...

"Europe... has lost a lot of money and therefore you must be poor now relative to the past," he reasons in an interview with BBC World Service's Business Daily."

"Dr Mahathir believes European leaders are in a state of denial. "You refuse to acknowledge you have lost money and therefore you are poor," he says."

"In particular, he believes Europe and the West must begin the long slow process of restructuring their economies to reduce their dependence on the financial sector"

"I think you should go back to doing what I call real business - producing goods, providing services, trading - not just moving figures in bank books, which is what you are doing."

His big bugbear is still currency trading, which he believes did huge damage to the Malaysian economy during the financial crisis that hit Asia in the late 1990s.

"Currency is not a commodity", he says.

"You sell coffee. Coffee… can be ground and made into a cup of coffee.

"But currency, you cannot grind it and make it into anything. It is just figures in the books of the banks and you can trade with figures in the books of banks only.

"There must be something solid to trade, then you can legitimately make money."

I cannot argue against that straight forward logic, can you?

"There must be something solid to trade, then you can legitimately make money."

Yep, how on earth do people think that squirting numbers around in computer systems is going to generate jobs and employment for the vast majority of the population? Sure, there will be the usual lot taking a cut and claiming huge salaries and bonuses, but they are essentially parasites on the real producers.

How much blood can the host afford to lose?

The UK, US and southern Europe have lost too much already, there remains only a slow or rapid decline until they can actually make or produce something that they can export in order to pay for the imports.

[flying]

Flying thank you for this book! Janet Tavakoli is one of the people I follow. Tuesday, Asia time here? Or...Western time. Regardless, I'll try to get it on my kindle free of charge.

Cheers.

Yes I grabbed it yesterday but I am in the US so I know it was Monday already in LOS...But you should be able to grab it Tuesday I hope...

And yes it was free

[flying]

Words of Wisdom from Asia:

I cannot argue against that straight forward logic, can you?

Thanks good read & things many of us have said repeatedly over the years.

Has to be a *real* economy not just a casino & consumerism

Also some things like this.....

"I think you have paid your workers far too much money for much less work,"

I know a big union organizer for decades & when ever we get together we argue a bit about this....

They think they are doing the working man a favor by demanding high wages or threatening strikes....

Of course the Union wants their increased % is the truth....

But, worse is the fact that they have made America uncompetitive in the world market. Companies forced to pay

unreasonable wages for products that can be bought elsewhere cheaper? Who loses then?

And this.....Of Course

"You refuse to acknowledge you have lost money and therefore you are poor," he says.

"And you can't remedy that by printing money. Money is not something you just print. It must be backed by something, either good economy or gold."

[flying]

Quite good I thought

Edited February 21, 2012 by flying

[Wrong Turn]

Flying thank you for this book! Janet Tavakoli is one of the people I follow. Tuesday, Asia time here? Or...Western time. Regardless, I'll try to get it on my kindle free of charge.

Cheers.

P.S. - you do have to sign up for the Amazon "prime" program. The cost is $79 usd per year. Yes, you can "borrow" (read) Janet Tavokoli's book and some others but there is a fee.

However....there is a one month free trial for the "Prime" program. You can read Tavakoli's book and others, and then decline to join after the one month....but make sure you rescind, because their bill will be automatically charge to your credit card.

Still, it's a good deal, if someone wants to do the trial. Tavakoli is always worth following.

[flying]

Flying thank you for this book! Janet Tavakoli is one of the people I follow. Tuesday, Asia time here? Or...Western time. Regardless, I'll try to get it on my kindle free of charge.

Cheers.

P.S. - you do have to sign up for the Amazon "prime" program. The cost is $79 usd per year. Yes, you can "borrow" (read) Janet Tavokoli's book and some others but there is a fee.

However....there is a one month free trial for the "Prime" program. You can read Tavakoli's book and others, and then decline to join after the one month....but make sure you rescind, because their bill will be automatically charge to your credit card.

Still, it's a good deal, if someone wants to do the trial. Tavakoli is always worth following.

Interesting......you know I was not asked to sign up for anything. I wonder if it is because of the US address I have on file there? As I do purchase things from Amazon....

Just double checked as I thought maybe they slipped one by....

Their instructions for Prime cancellation is thus...

Canceling a Free Trial

Go to the Manage Your Prime Membership page and click "do not upgrade." You'll continue to enjoy your Amazon Prime benefits until your free trial period is over. Then your membership will automatically cancel. Your card will not be charged.

So I went to manage link & it shows I have no memberships.....

Thanks though for the warning as others may get tagged.

Edited February 21, 2012 by flying

[ronz28]

Yes, thanks for mentioning the Amazon free download, Flying. I too, am in the US and the book was totally free for me the day you posted about it, without a request to try Prime. I haven't read much of it yet but have it on my smartphone and I plan to. I think I have read about all the tricks the gangsters have pulled, but maybe I missed something and it will be interesting to get her perspective.

[churchill]

Euro sorted ...

Attention USD ..

[Naam]

Euro sorted ...

Attention USD ..

long live Asian currencies!

watch out for "slippery when wet" signs

family buffaloes are prone to catch fatal diseases

a stitch in time kills two birds with one stone in a Pattaya Beach Road bush

[12DrinkMore]

Well, well, well, what is this?

Is he just a deluded old twit, which possibly applies to most of the member of the House of Lords, the place should really be disbanded.

!

Transcript here

http://www.publicati...#12021643000172

Or is there something behind it?

I'm guessing he's a deluded old twit, but surely the Peers of the Realm can get to the bottom of it?

Edited February 24, 2012 by 12DrinkMore