CrackerJax
New Member
Why do you bother posting when it is obvious you don't understand the issues or how economics actually works? I'm curious.
Fraud
- Thread starter NoDrama
- Start date
Han, Im curious too, about half of your diatribe was illogical and it seems your progressive professors have been scrubbing you real good. The Economy WILL tank, its only a matter of time. The Derivatives the banks created are to the tune of 1.4 quadrillion dollars, which is more money than the whole world has created since the dawn of time. Its enough to bankrupt every country and individual that exists or ever existed. The government has only bought time at the expense of even greater pain and suffering later.
tinyTURTLE
Well-Known Member
1.4 quadrillion?
try 56 trillion.
try 56 trillion.
hanimmal
Well-Known Member
Too funny CJ, I love how you posts lose all information and you resort back to your usual "I'm rubber your glue" when you have nothing to come back with. You should just go back to reading your economics for cooks on the internet book or whatever garbage it is you use for your vast superior knowledge of economics of the internet chat room.
Right, because coming from the person that believes the banks are able to lend out more money than they have in deposits gives you such credibility!
The economy will in a matter of time tank, wow what insight! Eventually everything dies, why not just use that one?
Or how about the inevitable, jesus will come down and wipe us out, so why worry about learning how shit actually works?
What type of money are we talking about here? Can you actually find a link that is to a real website? You know by now what I mean, not something pushing gold, or something with titles of other articles such as "Fed eats Babies", but a legit professional website (that is not taking a link from a kook).
But lets pretend for a moment that is true. And the entire earths money has been spent over and over again in the tunes of an entire economic collapse because of a handful of companies that are not under any serious regulatory control. When they come to collect, what do you think is going to change in the world?
Besides a total shake up at the top most level, pretty damn little. The economy will come back and shit will go back to everyday life.
The elderly population will be hosed, as well as the poor countries who became dependent on the money from wealthy ones. But we will be fine.
What you are talking about is similar to the type of depressions there were before the Fed, we survived them then, and we can survive them again. There will just be something developed to regulate those industries that were allowed to go unchecked for way too long because the Fed had nothing they could do to regulate them and congress was too stupid to listen to the people telling them they needed to.
But yeah progressive educators! Instead we should be taught by looney websites, and rantings of people with tin foil hats.
Thats the NATIONAL derivative value, The world is much bigger than the USA, you ought to try and see some of it while you still can.
http://www.rense.com/general82/out.htm
http://www.infiniteunknown.net/2008/06/11/total-notional-value-of-derivatives-outstanding-surpasses-one-quadrillion/
my mistake 1.14 QUADRILLION, which is like having $100 bill vs your piddly 5.6 cents.
You mean that post that I made explaining in detail how it was done, with facts and indisputable proof? The post where you got your ass handed to you 20 times and even promised to come back and prove it all wrong, but then never even attempted to? The one where you got schooled so hard that you went crying to your professors? You mean that post?
hanimmal
Well-Known Member
Nope I mean the one that you were continually shown that you were wrong, on actual Fed websites, and other websites, definitions ect, but refused to believe it and kept coming back with nothing that went on for 20 pages.Originally Posted by hanimmal
Right, because coming from the person that believes the banks are able to lend out more money than they have in deposits gives you such credibility!
You mean that post that I made explaining in detail how it was done, with facts and indisputable proof? The post where you got your ass handed to you 20 times and even promised to come back and prove it all wrong, but then never even attempted to? The one where you got schooled so hard that you went crying to your professors? You mean that post?
And in the end you went to a local college, and said someone told you you were right, when I asked what they said, you tried to deflect to inflation, I asked you again and you never posted back.
Here infact you can read it here:
https://www.rollitup.org/politics/293473-quick-look-into-how-banking-10.html#post3722794
ps.
All those quotes you have are from people that were either before/during the great depression which was when modern economics tackled the issues of developing a economic system dealing with the entire economy "Macroeconomics". So impressive list, but irrelevant to the discussion about how banks are forced to act as a result of the collapse in the 30's.
First off, your link is broken. Second of all you provided not 1 single shred of proof, no links, NOTHING to defend your side of the story, always "my professors told me so, and my text book says it so" thats the whole crux of your argument. Then when you get it thrown back in your face you run away like a little baby.
FWIW I didn't go to a local college, I went to a VERY prestigious ivy league university and talked to the head of the economics department. People I talked to went to places like Cambridge, Columbia, Princeton, MIT. Not the University of Phoenix like your professors.
Hey Han? What was the greatest period of Economic downturn to ever be experienced by the US? The great Depression right? Was the Federal Reserve system enacted at that time? Are we as a nation better off than we were during the depression? Please discuss you points of view without using your MSM talking point handbook. If I want to hear idiots bleat all I have to do is turn on the television and watch CNBC, MSN, CNN, FOX .....
Only an ignorant moron would claim that we do not have a fractional reserve banking system.
well since you want to play it that way how about the BIS, knowing you you probably think the BIS has nothing to do with economics or banking.
http://www.bis.org/statistics/derstats.htm
Lets see you discredit that one.\
FWIW Jeff Rense has his own radio show. What you got? A job at Kinko's?
http://www.risk.net/risk-magazine/news/1517912/bis-reports-record-exchange-traded-derivatives
hanimmal
Well-Known Member
Hey Drama, was the Fed actively trying to stop the meltdown during the GD? Was there an FDIC (why would that matter, because they are the ones that insured deposits)? What was it they thought the right moves were at that time (do nothing, markets will right themselves (sound familiar?)).
And I love that you think my professors went to university of Pheonix, that is pretty funny.
But hey here is the link: https://www.rollitup.org/politics/293473-quick-look-into-how-banking.html
Should work, if not may take you ten seconds to look it up.
You crack me up, you are just a internet tool, and clearly if you actually think your ivy league professors teach their students that a bank can lend out more money than they have in deposits, you didn't understand shit they had said, or somehow in your mind because you were so sure you were right, maybe you just heard what you wanted to hear.
Because you were wrong almost the entire time you just refused to see it.
And I love that you think my professors went to university of Pheonix, that is pretty funny.
But hey here is the link: https://www.rollitup.org/politics/293473-quick-look-into-how-banking.html
Should work, if not may take you ten seconds to look it up.
You crack me up, you are just a internet tool, and clearly if you actually think your ivy league professors teach their students that a bank can lend out more money than they have in deposits, you didn't understand shit they had said, or somehow in your mind because you were so sure you were right, maybe you just heard what you wanted to hear.
Because you were wrong almost the entire time you just refused to see it.
mindphuk
Well-Known Member
Why are people saying what GS did was legal? Failing to disclose a conflict of interest to investors is fraud, plain and simple. There are also laws against trading using insider information. Paulson and Goldman had inside information that the CDOs they were creating would more than likely fail, because they had designed those instruments to do exactly that (within a year of their creation, 99 percent of bonds in question had indeed been downgraded). But Goldman’s clients that bought those CDOs were not privy to that knowledge.
CrackerJax
New Member
Not only are ppl saying it is legal "Mindphuk"... it IS legal.
All GS did was protect their long term investments, which is what everyone should do, once they realized that the govt. was tanking the markets out....and the bubble was about to pop.
it's not illegal to be astute.
It's smart....and GS has some of the brightest ppl in the country.
Everything was disclosed to ACA on THEIR deal. ACA had FULL CONTROL.....
GS isn't required to tell them their own opinion of any deal they put together.
If EVERYONE had behaved like GS ... the damage done to the country would have been much less.
If the govt. would stop INTERFERING IN PRIVATE BUSINESS.... NONE of the damage would have occurred at all.
P.S. FRED AND FANNIE WILL COLLAPSE AT SOME POINT AND MAKE EVERYONE FORGET ABOUT THE LAST YEAR AND A HALF....
There is a MAJOR sh*t storm coming...... and if you do not prepare yourself now.... you will be swept aside.
Some folks on these forums are completely in the dark..... they don't even have a flashlight.
All GS did was protect their long term investments, which is what everyone should do, once they realized that the govt. was tanking the markets out....and the bubble was about to pop.
it's not illegal to be astute.
It's smart....and GS has some of the brightest ppl in the country.
Everything was disclosed to ACA on THEIR deal. ACA had FULL CONTROL.....
GS isn't required to tell them their own opinion of any deal they put together.
If EVERYONE had behaved like GS ... the damage done to the country would have been much less.
If the govt. would stop INTERFERING IN PRIVATE BUSINESS.... NONE of the damage would have occurred at all.
P.S. FRED AND FANNIE WILL COLLAPSE AT SOME POINT AND MAKE EVERYONE FORGET ABOUT THE LAST YEAR AND A HALF....
There is a MAJOR sh*t storm coming...... and if you do not prepare yourself now.... you will be swept aside.
Some folks on these forums are completely in the dark..... they don't even have a flashlight.
hanimmal
Well-Known Member
You don't think that Fannie and Freddie may need to have their exposure to the government lessened, and maybe chopped up and made fully private to succeed or fail like everyone else? I am not sure why you prefer it to be closed during an economic panic though. Doesn't seem like panicking everyone while costing people a lot more losses in other market failures that would have spawned from it, was the right way to go.
CrackerJax
New Member
F& F CAUSED THE FRIGGIN PANIC SON..... wake up.
mindphuk
Well-Known Member
How is fraud legal? I understand they followed Wall Street rules but there's a point where insider information and misrepresentation must be considered fraud by our court system. As long as there are victims that can prove their case beyond a reasonable doubt, I think there can be prosecutions.
hanimmal
Well-Known Member
No pappy they did not.
The laws that were changed that allowed Fannie and Freddie to sell low income mortgages and all the other steps of deregulation that started as early as 1987, where loophole mined by financial companies, not banks (shadowbanks). These non-bank financial intermediaries (started by quick loans I believe) found the loopholes that allowed them to sell the mortgages to wallstreet.
Then the market took off and all these huge overnight mortgage companies started new types of loans that allowed people to not report income, no references, no income, and no interest loans. And they targetted the middle class, not low income at first. And the suburbian housing prices skyrocketted.
Then forced to go into it because they were losing investors to these low banks because wallstreet was buying so much of them, came the big banks. And that is when all hell broke loose.
Just putting blame on Fannie and Freddie is false.
CrackerJax
New Member
Because it wasn't fraud...that's why...everything was disclosed...everything....ACA chose poorly. GS did not..... two separate actions.... GS wasn't double dealing....they were protecting themselves from the coming crash. ACA did NOT.