dagblog - Comments for "The Scam Wall Street Learned From the Mafia"

I really do not know. In fact

cmaukonen — Fri, 22 Jun 2012 01:50:33 +0000

I really do not know. In fact I think a lot of people don't think there will be on. They maybe surprised and from an unexpected source.

How long before the

Resistance — Fri, 22 Jun 2012 01:15:06 +0000

In reply to It's worse than that. I

How long before the crash?

When it does; you think there'll be a revolution then?

im·pe·ri·al·ism n.

1. The policy of extending a nation's authority by territorial acquisition or by the establishment of economic and political hegemony over other nations.

2. The system, policies, or practices of such a government.

It's worse than that. I

cmaukonen — Fri, 22 Jun 2012 00:38:40 +0000

In reply to Mandatory reading should be

It's worse than that. I didn't post it here, but Ellen Brown did a piece on how JPmorgan an others have been propping up the national debt using interest rate sways in a scam that would make Henry Gandorf proud.

That is one obvious answer, but financial analysts Jim Willie and Rob Kirby think it may be something far larger, deeper, and more ominous. They contend that the $3 billion-plus losses in London hedging transactions that were the subject of the hearing can be traced, not to European sovereign debt (as alleged), but to the record-low interest rates maintained on U.S. government bonds.

The national debt is growing at $1.5 trillion per year. Ultra-low interest rates MUST be maintained to prevent the debt from overwhelming the government budget. Near-zero rates also need to be maintained because even a moderate rise would cause multi-trillion dollar derivative losses for the banks, and would remove the banks’ chief income stream, the arbitrage afforded by borrowing at 0% and investing at higher rates.

The low rates are maintained by interest rate swaps, called by Willie a “derivative tool which controls the bond market in a devious artificial manner.” How they control it is complicated, and is explored in detail in the Willie piece here and Kirby piece here.

Kirby contends that the only organization large enough to act as counterparty to some of these trades is the U.S. Treasury itself. He suspects the Treasury’s Exchange Stabilization Fund, a covert entity without oversight and accountable to no one. Kirby also notes that if publicly-traded companies (including JPMorgan, Goldman Sachs, and Morgan Stanley) are deemed to be integral to U.S. national security (meaning protecting the integrity of the dollar), they can legally be excused from reporting their true financial condition. They are allowed to keep two sets of books.

Consider that now.

Mandatory reading should be

Resistance — Fri, 22 Jun 2012 00:15:48 +0000

In reply to The Scam Wall Street Learned From the Mafia

Mandatory reading should be required. Everyone should read this and get the sense of the corruptness.

Thanks C,

The coordinated attacks and the subsequent collapse of Bear Stearns and Lehmman, destroyed the real estate/housing asset class.

It makes me angry to think, the bankers got the bailout and the homeowners and the working class got the shaft.

It should be heads on pikes, for these ~~traders~~ traitors.

But watching how Congress fawned over Jamie D?.

Everyone but the peasants got rich

The bankers got the gold, we got hope.