Posted on 03/22/2015 8:14:15 PM PDT by concernedcitizen76
They will devalue the dollar to a small percent of what it is worth now and pay the debt in future devalued dollars. So in reality they will only pay a very small part of the true value of the debt. It’s all just a big pansy scheme.
The politicians lie, and write laws to protect themselves. They come up with these schemes and because THEY REALLY ARE ABOVE THE LAW they are untouchable. Look at Greece and that disaster. It was all done by politicians.
The politicians tax the people and name buildings and projects after themselves and everybody thinks it’s great that they spend all that money that was paid for the people. It has been this way for hundreds if not thousands of years. They create bogus crisis and all the dumbass voters are easily convinced by the media that everything is OK. It doesn’t matter who is in power. How many politicians go in poor and come out multi millionaires, while their salary was not a multi millionaire’s salary. Protesting is only for show. In reality the politicians with the help of their friends in the media will do whatever they want and laugh at everybody else.
It really bothers me to see veterans that lost a limb, their sanity and also those that died for their country only to find out that B. Hussein Obama has turned his back on Israel and is negotiating with Iran, Cuba, and North Korea.
I am convinced that this blog Free Republic’s days are numbered. So I will enjoy posting for as long as I can because the days of free speech on the internet are numbered. It will be diguised as national security, just wait and see.
If you only want to talk about credit default swaps, that's fine, but they are only a tiny fraction of all outstanding derivatives contracts.
I read on the internet that it is going south this coming fall.
The Shimita (sp?), blood moons, et all.
Yes, Sept. 28.
$5 vs $1 million is a stupid bet.
Not necessarily. It depends on the teams involved. But if you don't like $5, how about $5000? Or whatever. That really doesn't affect the point I was trying to make.
I do.
Could come earlier. Am not looking at signs. Am watching Red China. Its publicly stated policy is to be ready to take us on and win in 2025.
Strategically Red China can do so now. It controls both ends of the Panama Canal and a major West Coast seaport. Plus it has the capability to rain ICBMs on us. And it has demonstrated its ability to take out our satellites.
But the Chinese do not want to go head to head with us. They’d rather we know that they can destroy us, or cripple us, with no chance of victory. So they are making sure that it is obvious they can crash our economy, take down any and all of our communications, and defeat us in any theater tactical conflict.
It is that last part Red China is working on. It is building its armed forces, especially its navy, to be ready to beat us in 2025. Then their leaders will present us with the reality that we cannot win. And the generations of cowards we have bred as leaders will go hide under their beds whimpering.
Should we implode earlier, that won’t sadden them a bit. And we can thank our federal government for this mess.
I prefer a $5 bet, straight up. The one that risks $5, not the notional value of $2 billion that makes the fear mongers hyperventilate.
It’s a risky bet, but not a stupid one if it works out in your favour. If if works, a quick way to lots of wealth.
How do you think the former Governor of New Jersey (name forgotten) ended up collapsing one of the largest hedge funds over night. If he had won his bet he would have made commissions of something like $250 million.
As I learned while growing up: I’d rather owe it to you than cheat you out of it.
I am not so sure the camel’s back can hold a few more straws. For this reason, I believe democrats and the liberal media wouldn’t mind so much a republican getting elected.
They cannot prop it up too much longer. They know it’s got to crash. They would love nothing more than a republican taking all the blame. They would tell us it,was,good under obama.
They claim it was good under Clinton. They don’t tell us that it got bad under Bush because the Clinton administration forced banks to make bad loans.
Corzine made huge bets on crappy sovereign bonds. It wasn't derivatives that drove them under. And it wasn't a hedge fund.
If he had won his bet he would have made commissions of something like $250 million.
They made bad bets with the firm's equity, they weren't trading to generate commissions
Good analogy, Leaning Right!
But why stop there? Why not then "collateralized" those notes - i.e., use those notes as collateral to place downpayments on single-family dwellings - during a realestate bubble. And then "bundle" and securitize those mortgages?
Regards,
LOL, you're right, I missed an opportunity to turn yet another buck. Now I'm beginning to understand why Goldman Sachs won't return my phone calls.
I think the term you are seeking is rehypothecation. A single physical asset hypothetically is the collateral behind one loan, but in practice (re-hypothecation) becomes the collateral for 2 or more loans. Only one of the loans really has valid collateral. If ANY of them fails, the fraudulent practice is exposed. The rest of the loans are unsecured. This practice is apparently very common in the real estate and financial circles. A house of cards waiting to collapse.
YOU DID build that CONgre$$
Socialism Is Legal Plunder - Bastiat
6. But the grand nostrum will be a public debt…
7. 7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game. This is an essential point, and happily is attended with no difficulty. A sufficient number, properly disposed, can alternately legislate and speculate, and speculate and legislate, and buy and sell, and sell and buy, until a due portion of the property of their constituents has passed into their hands to give them an interest against their constituents, and to ensure the part they are to act.
http://www.constitution.org/cmt/freneau/republic2monarchy.htm
If that’s so, I got a little breathing room, since I’d heard on the InterWebs that it was coming this September. Whew; good call.
I should have read this before replying; the 2025 date just doesn’t ring any bells, but China’s threat does.
“How do you think the former Governor of New Jersey (name forgotten) ended up collapsing one of the largest hedge funds over night.”
Corzine should have been indicted and convicted. However, as a former Chairman of Goldman Sachs, US Senator, and Democrat bundler he knows too much.
If the Republicans were truly an opposition party they would have done a full Saul Alinsky number on Corzine and used him to pummel Obama and the Democrat Party. Imagine if everyday we were hearing, “Why does Jon Corzine walk free” or “This administration talks about the 1%, what about Jon Corzine”. Corzine is the perfect foil with which to illustrate the hypocrisy of the Democrat class warfare game as well as show the Dems are owned by the big banks.
Unfortunately the Republican Party today stands for nothing. Empty suits fight for nothing. And yes, Jon Corizine walks free.
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