The Bailout is a Ponzi "pyramid scheme" designed to give the billionaires who created the bad debt crisis all their money back so they can re-diversify into EUROS and other foreign currencies.
It is could possibly be part of a grander scheme to remove the USA/DOLLAR as the "World Reserve Standard", paving the way for a world currency (ie a New World Order
What does Rep McDermott think ?
What does Rep Kaptur Think?
Why should American taxpayers give US Treasury Secretary "Hank" Paulson a blank check to bail out the shareholders of busted banks? Why should the Treasury turn itself into a toxic waste dump for their bad loans? Why not let other banks join the unlamented Brothers Lehman in bankruptcy court, and start a new bank with taxpayers' money? Or have the Treasury pay interest on delinquent mortgages, and make them whole? Even better, why not let the Chinese, or the Saudis or other foreign investors take control of failed American banks? They've got the money, and they gladly would pay a premium for an inside seat at the American table.
READ THE FULL STORY @ ASIA TIMES.COM
ARNOLD KLING FROM THE ECONBLOG EXPLAINS THE REALITY OF THE BAILOUT
ECONOMIST MICHAEL HUDSON describes the bailout as a "Once in a Century Ripoff"
Great Discussion on REDDIT here
Saturday, September 27, 2008
Sunday, September 21, 2008
The World Wide Economic game of GO ?
The current economy is like the Chinese game of GO. The out come has already been decided (we lose) the game continues to the delight of the winner only to recruit more players and extend the game or as the Architect from THE MATRIX movie stated "...to perpetually delay the inevitable"
Ron Paul explains the current derivative market enslaves(forces their play) the children of the future
Labels:
chinese game,
Derivatives Market,
ECONOMICS,
GO,
RON PAUL
Sunday, September 14, 2008
Speaking of Scams - Lehman Brothers & Derivative Market -$455 Trillion Swindle
WTF- its legal for the hedge fund houses to reduce their exposure when the rest of the market cannot, so long retirement accounts
Original Article
A rare emergency trading session opened Sunday afternoon to allow Wall Street dealers in the $455 trillion derivatives market reduce their exposure to a potential bankruptcy filing by Lehman Brothers.
U.S. regulators and bankers were making last-ditch efforts on Sunday to prevent toxic assets from ailing Lehman Brothers (LEH.N) spilling into global markets and rupturing investor faith in the international financial system.
"This is an extremely, and I stress extremely, rare event. It also speaks to the more general notion that, in today's highly disrupted financial markets, the unthinkable is thinkable," said Mohamed El-Erian, the chief executive of Pimco, the world's biggest bond fund, based in Newport Beach, California.
The session opened at 2 p.m. and was due to run until 4 p.m. New York time (1800 to 2000 GMT), according to the International Swaps and Derivatives Association. See text . ISDA later extended it for another two hours.
Trading involved credit, equity, rates, foreign exchange and commodity derivatives. ISDA confirmed a "netting trading session" was taking place for over-the-counter derivatives, in which trades that offset each other are settled.
ISDA estimates the OTC derivatives market excluding commodities has a value of $455 trillion.
Market sources said the special session was initiated by the Federal Reserve.
The aim is to reduce risk associated with a potential bankruptcy filing by Lehman Brothers Holdings Inc.
"Trades are contingent on a bankruptcy filing at or before 11:59 p.m. New York time Sunday (0359 GMT)," said the statement. "If there is no filing, the trades cease to exist."
Britain's Barclays Plc (BARC.L), which had appeared to be the frontrunner to take over Lehman -- excluding its bad mortgage-related assets -- pulled out of the bidding early in the afternoon, according to a person familiar with the matter.
That raised the risk of a Lehman bankruptcy. Lehman hired law firm Weil Gotshal & Manges to prepare a potential bankruptcy filing, the Wall Street Journal reported on Saturday in its online edition, citing a person familiar with the matter.
The special session "is a way to offset the risk between the remaining large banks and insurance companies and fund managers prior to the markets opening in Asia," said Mark Grant, managing director of structured finance at Southwest Securities, based in Dallas.
Grant is expecting a turbulent session when the U.S. markets reopen for business on Monday.
"No one has any idea about the credit quality of the assets in Lehman's portfolio and no one has a handle about the size of the CDS contracts," he said.
"The market is going to be spooked. People will be fearful and no one outside a very small group of people knows what Lehman going into liquidation will mean."
If there is a forced sale or liquidation, "this could set off another round of writedowns globally."
Oh boy I can't wait for the new economy after this one crashes. You can only put so much lipstick on this pig !
Friday, September 12, 2008
RON PAUL - The Two Party System is a Scam !
RON PAUL urges voters to petition the debate commission to include the other candidates in the presidential debates.
RON PAUL DESCRIBES IN DETAIL THE SHAM THAT IS THE TWO PARTY SYSTEM
RON PAUL & RALPH NADER DISSECT THE TWO PARTY SYSTEM & THE PRESIDENTIAL DEBATE BIAS
RON PAUL DESCRIBES IN DETAIL THE SHAM THAT IS THE TWO PARTY SYSTEM
RON PAUL & RALPH NADER DISSECT THE TWO PARTY SYSTEM & THE PRESIDENTIAL DEBATE BIAS
Labels:
2008 ELECTION,
DEBATE,
FRAUD,
RALPH NADER,
RON PAUL
Tuesday, September 9, 2008
RAGE AGAINST THE MACHINE at the RNC
After their attempt to take the stage was stopped by police, Rage Against the Machine took to the crowd with an acapella performance. Armed with only a megaphone, and thousands of fans, RATM played a 10min acapella set of Bulls on Parade and Killing in the Name of. Check out www.above-thefold.com for exclusive coverage.
I think that Zack De Lahoya & Tom Morrelo have the right intentions, but this is a really display of the kind of "crowd mentality" that fuels the current system. ALEX JONES does a brilliant job (in the below clip) of describing how the two party system is just a game to further a single agenda
Monday, September 1, 2008
PANOPTICON - The Perfect Prision
This review of the merits of National ID is from the documentary "TAKING LIBERTIES"
What is a PANOPTICON ?
Labels:
national id card,
panopticon,
PRISON,
taking liberties
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