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Old 13-12-2010, 10:54 AM   #1
soleil
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Default Derivatives: Quadrillion Dollar Financial Casino

Derivatives: The Quadrillion Dollar Financial Casino Completely Dominated By The Big International Banks

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If you took an opinion poll and asked Americans what they considered the biggest threat to the world economy to be, how many of them do you think would give "derivatives" as an answer? But the truth is that derivatives were at the heart of the financial crisis of 2007 and 2008, and whenever the next financial crisis happens derivatives will undoubtedly play a huge role once again. So exactly what are "derivatives"? Well, derivatives are basically financial instruments whose value depends upon or is derived from the price of something else. A derivative has no underlying value of its own. It is essentially a side bet. Today, the world financial system has been turned into a giant casino where bets are made on just about anything you can possibly imagine, and the major Wall Street banks make a ton of money from it. The system is largely unregulated (the new "Wall Street reform" law will only change this slightly) and it is totally dominated by the big international banks.
Read more: http://www.benzinga.com/10/12/691233...#ixzz17zJUnu7X


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Counting at one dollar per second, it would take you 32 million years to count to one quadrillion.

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Old 13-12-2010, 11:08 AM   #2
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http://www.cnbc.com/id/40628316/

I prefer the original article. Story is a NYT journalist with quite the decent rep, whats she doing posting up conspiracy theory stuff I wonder?
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Old 13-12-2010, 11:12 AM   #3
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Thanks. I actually saw the NY Times version first but as I couldn't tweet it through twitter without signing up to the NYT, I went elsewhere.

Have you seen the PBS documentary, "Frontline: The Warning"?

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Old 13-12-2010, 11:15 AM   #4
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Thanks. I actually saw the NY Times version first but as I couldn't tweet it through twitter without signing up to the NYT, I went elsewhere.
Ahhhh shame that isn't it? Particularly when journalists start to do their job!
I mean woah, stand back in amazement! lol.

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Have you seen the PBS documentary, "Frontline: The Warning"?

http://www.youtube.com/watch?v=zm9VrKlXT_A
Don't think so, gonna watch it now though!
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Old 13-12-2010, 12:27 PM   #5
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An excellent doc, unfortunately it doesn't go deep enough into what has been really happening behind the scenes. It gives the idea that Greenspan was merely wrong. I think the most important part of the doc was the insight into how central banking is the complete antithesis of what laissez faire economics is all about. On the one hand he doesn't want regulation, on the other he's printing money like there's no tomorrow.

Now govts around the world are bailing out banks (with money they themselves borrow at interest) who invested in this madness with no real clue as to the sheer size of the derivatives bubble. Govts seem to actually believe that the madness will end with Greece,Iceland and Ireland.
It won't. It won't end until the cancer is removed forcefully. The banks and the entire business associated with derivatives trading have to fail.
The only question is how long we will continue the delusion and pumping money into a bottomless pit.
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Old 13-12-2010, 03:37 PM   #6
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I found Alan Greenspan being a disciple of Ann Rand to be very interesting and her comment about the seperation of state and economics. That was very "illuminating" - especially when one considers how many presidents Greenspan saw coming and going.

Regulating cancer is not an option either if its growth can be foreseen and prevented.
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Old 13-12-2010, 03:45 PM   #7
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Originally Posted by soleil View Post
Thanks. I actually saw the NY Times version first but as I couldn't tweet it through twitter without signing up to the NYT, I went elsewhere.

Have you seen the PBS documentary, "Frontline: The Warning"?

http://www.youtube.com/watch?v=zm9VrKlXT_A
Looks good.

Thanks for the link!
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Old 13-12-2010, 04:49 PM   #8
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Originally Posted by andyh View Post
The banks and the entire business associated with derivatives trading have to fail.
The only question is how long we will continue the delusion and pumping money into a bottomless pit.
And when it fails it is the ordinary people who will suffer most (bye bye pensions and savings).

Those responsible won't suffer in the slightest and will probably be the ones providing the "solution" to the failure.
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Old 13-12-2010, 05:03 PM   #9
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And when it fails it is the ordinary people who will suffer most (bye bye pensions and savings).

Those responsible won't suffer in the slightest and will probably be the ones providing the "solution" to the failure.
Ah, that will be socialism for the sinking, squeeling bank$ters and good ol' rugged capitalism for everyone else.

It reminds me of something...I best search for it and copy and paste it:

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Therefore the Kingdom of Heaven is like a certain king, who wanted to reconcile accounts with his servants. When he had begun to reconcile, one was brought to him who owed him ten thousand talents. But because he couldn’t pay, his lord commanded him to be sold, with his wife, his children, and all that he had, and payment to be made. The servant therefore fell down and kneeled before him, saying, ‘Lord, have patience with me, and I will repay you all!’ The lord of that servant, being moved with compassion, released him, and forgave him the debt. "But that servant went out, and found one of his fellow servants, who owed him one hundred denarii, and he grabbed him, and took him by the throat, saying, ‘Pay me what you owe!’ "So his fellow servant fell down at his feet and begged him, saying, ‘Have patience with me, and I will repay you!’ He would not, but went and cast him into prison, until he should pay back that which was due. So when his fellow servants saw what was done, they were exceedingly sorry, and came and told to their lord all that was done. Then his lord called him in, and said to him, ‘You wicked servant! I forgave you all that debt, because you begged me. Shouldn’t you also have had mercy on your fellow servant, even as I had mercy on you?’ His lord was angry, and delivered him to the tormentors, until he should pay all that was due to him.
Of course the difference is that the 'king/ president' not only forgave banker debts but he bailed them out with the taxes of the very same people that the banks refuse to show mercy to.

What an evil, evil system.

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Old 13-12-2010, 08:49 PM   #10
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Originally Posted by andyh View Post
The only question is how long we will continue the delusion and pumping money into a bottomless pit.
They'll keep this racket going as long as they can, preferably until they have drained every last dime out of humanity. And if they can't get it all this way they'll use global warming to tax the crap out of everyone.
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Old 13-12-2010, 08:58 PM   #11
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Cmon mrerisian, hadaka jimmy, ach76 and bendoon. I'd love to hear your take on this.
Or is it that you can only reply to threads involving the daily mail?
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Old 14-12-2010, 12:09 AM   #12
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Cmon mrerisian, hadaka jimmy, ach76 and bendoon. I'd love to hear your take on this.
Or is it that you can only reply to threads involving the daily mail?
the same could be said about you andy..
http://www.davidicke.com/forum/showthread.php?t=148315
this is so significant,imho.
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The truth must be kept secret, and the masses need a teaching proportioned to their imperfect reason… - Albert Pike Sharpen & Use your reasoning daily - the nine
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Old 14-12-2010, 12:53 AM   #13
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ultimately the mess we are in is due to deregulation of gold/silver backed currency and the deregulation of printing money in accordance with reserves of stocks.. but mainly because money is created as debt, which always gives the upperhand to the lender/creator..the bank will inherit the earth in this system.


Ann Rynd was for entrepreneurism and against conglomerations and union..
her works are of great significance yet are intellectually immature when considering human nature and the pack animal - collective intelligence..
she rightly abhorred corruption and back handers, but championed the guile of the single minded uncompromising alpha male..

a world of ego!

the answer of coarse lies in between the two..imho.
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The truth must be kept secret, and the masses need a teaching proportioned to their imperfect reason… - Albert Pike Sharpen & Use your reasoning daily - the nine
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Old 14-12-2010, 07:54 AM   #14
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the same could be said about you andy..
http://www.davidicke.com/forum/showthread.php?t=148315
this is so significant,imho.
Dunno what you're on about. I'm not interested in doleys, immigrants (muslim or otherwise). I'm interested in who's making a packet in the meantime though.
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