Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

a reply to: buster2010

They don't have a GD problem with pyramid schemes.

They created Fanny, and Freddy. They created social security, and medicare, and medicaid.

So give it a GD rest.

originally posted by: buster2010
a reply to: neo96

I don't get why people are ACTING like this is a 'big issue'.

Did you ever stop to think it might be that the people don't think the tax payers should bail out the banks when the pyramid schemes they run collapse? Like before when the people complained so much to Congress that they stopped it then little Georgie and his buddies went behind closed doors and passed it.

Buster, I don't think I have EVER agreed with you before ... However, I will confess I do agree with you this time.

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Today is giving me Mixed-Signals with regards how the U.S. Senate will vote on this 2015-Budget-(with-Bank-Bails?).

1. The 300pt-Market-Tumble suggests NO.

2. Seeing yeterday's House-Vote suggests YES.

( IF The Secret Deal Story is true, that might be the reason for why Wall-Street-n-Banks are pushing for "Bank-Bails" )

HOWEVER

There COULD be 2nd-Thoughts with the "Secret Deal" IF there's any truth to The New Cold War Policy Has Backfired.


I'm actually hoping this 2015-Budget-Bill doesn't pass the U.S. Senate .... and nothing more passes than a three-month stopgap spending bill.

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OPINION:

When You Don't Know What To Do? ... Do Nothing.
.

a reply to: FarleyWayne

Mixed signals ?

Hell the potus called his party and TOLD them to vote for it.

originally posted by: neo96
a reply to: buster2010

They don't have a GD problem with pyramid schemes.

They created Fanny, and Freddy. They created social security, and medicare, and medicaid.

So give it a GD rest.

Sorry but just because you clearly don't understand what the topic is about is no reason why I should give it a rest. Social Security had nothing to do with this collapse neither did Medicare or Medicaid. If Glass Steagall was still in full effect this collapse would have never happened. But no it was the wealthy people that you obviously think do no wrong that used the politicians that they paid for pushed for Glass Steagall to be changed so they could run their pyramid scheme. It needs to be brought back into full effect and any banker that breaks that law should get life in prison.

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

-Henry Ford

Just saying, but This is old news.. people really dont pay attention to things.

a reply to: buster2010

Sure it DOES.

First someone says Americans 'don't like pyramid schemes.

They clearly do. Since social security and its partners are prime examples of it.

Hell I can do one better with the latest incarnation the 'Affordable' Care Act.

DEFINITION of 'Pyramid Scheme' An illegal investment scam based on a hierarchical setup. New recruits make up the base of the pyramid and provide the funding, or so-called returns, given to the earlier investors/recruits above them.

www.investopedia.com...

That is EXACTLY out those programs work.

And people have the nerve to whine about Wall Street ?

That was effing hilarious.

originally posted by: buster2010

originally posted by: neo96
a reply to: buster2010

They don't have a GD problem with pyramid schemes.

They created Fanny, and Freddy. They created social security, and medicare, and medicaid.

So give it a GD rest.

Sorry but just because you clearly don't understand what the topic is about is no reason why I should give it a rest. Social Security had nothing to do with this collapse neither did Medicare or Medicaid. If Glass Steagall was still in full effect this collapse would have never happened. But no it was the wealthy people that you obviously think do no wrong that used the politicians that they paid for pushed for Glass Steagall to be changed so they could run their pyramid scheme. It needs to be brought back into full effect and any banker that breaks that law should get life in prison.

What is it with this neo character? Does the handle stand for "neocon"? Based on his/her responses in this thread and others he/she come across as an idealogue with preprepared talking points without a deeper understanding of the issue at hand. Many of the replies are nonsensical and are basically saying its the dems/Obama/liberals/poor peoples fault for all the problems this country faces today. If this bill passes, largely unmodified, it nearly proves that the two party system is an illusion designed to divide and distract. Republicans and democrats largely has the same agenda and are owned by the same banking interests. If that is untrue please explain how GW, a pro big government, big spending, liberty revoking president was in a republican by the commonly accepted principles put forth by the republican party? The US political system is joke people and its time to wake up. The government and politicians have been completely owned by multinational banking interests. What we are now experiencing is fascism under its common definition; the merger of the corporate interests and the government. Sadly it extends far beyond the banks but ma!e no mistakes the banks are the nexus of this whole sham. Its despicable that the American financial system has been structured in such a complex way as to intentionally create confusion and misunderstanding. Unfortunately due to the intentional sabotage of the American education system what the OP posted would probably be meaningless to the average American. Not because thy don't care but rather they don't understand it and have been encourage not to seek an understanding due to a decrepit education system and a "government that looks out for their interests".

It really is quite sad and what's worse is I don't see a solution anywhere in the near future. Its almost like people are afraid to wake up. Its as if everyone knows that something is really broken and a catastrophic collapse is lurking just around the bend but feel as if there is nothing that can be done about it therefore its easier and less stressful to just pretend what is happening is in fact not happening. I know the first step is getting people educated on the basics of the ponzi scheme that is the fed and fractional reserve banking, the fraud of the petrodollar and the like but how does one get this message out if schools refuse to teach it and the corporate owned media pretends that there is nothing to worry about as fr s the dollar?

Sorry to get off track on a rant but the OP points to a much larger systemic problem that I like many others fear will crash and burn resulting in chaos and martial law. As I see it this sadly yet another nail in the coffin for the US and as usual us "useless eaters" will be the ones to pay... Likely in blood.

Wow! I never saw THIS coming! ....note to self: prepare for either world coming to end, hell freezing over, or sound of pigs over house tonight

Strange Bedfellows Unite To Oppose Spending Bill's Gift To Big Banks

If Wall Street wants to gamble, Congress should force them to pay for their losses

Sherrod Brown and David Vitter ..... now THIS is reaching across the aisle 2014 ....it IS possible.... more of their fellow party members need to join them.... Shake things up, gentlemen, make some noise!

originally posted by: neo96
a reply to: buster2010

Sure it DOES.

First someone says Americans 'don't like pyramid schemes.

They clearly do. Since social security and its partners are prime examples of it.

Hell I can do one better with the latest incarnation the 'Affordable' Care Act.

DEFINITION of 'Pyramid Scheme' An illegal investment scam based on a hierarchical setup. New recruits make up the base of the pyramid and provide the funding, or so-called returns, given to the earlier investors/recruits above them.

www.investopedia.com...

That is EXACTLY out those programs work.

And people have the nerve to whine about Wall Street ?

That was effing hilarious.

Some of your responses are hilarious. I don't think anybody is arguing that there are problems with social security and medicare, however those problems largely are not due to the nature of the programs but rather the criminal mismanagement of funds associated with said programs and democrats and republicans kicking the can down the road so it can become someone else's problem. Maybe we should just hand all that money over to wall street without any oversight and expect that those programs will remain funded and with growth that outpaces inflation. Maybe we could have handed it all over to Bernie Madoff, Ironically one of the few people to be prosecuted and jailed after the most recent collapse and likely because he messed with the people who were supposed to be the predators. This predators in the big banks who clearly profited from the subprime fiasco and did so in a fashion were they were aware of the likely consequences were not punished. No, instead they got promotions and bonuses from the taxpayers. Whether or not there were bad actors is not in question, the documents and internal emails are there. These people could have and should been prosecuted but were not as to not harm an already fragile banking system. Also Buster, IMO, is correct. Had Glass Steagall not been undermined by the very entities who stood to benefit from doing so the country, the taxpayer, the average worker, the responsible saver or borrower would not have needed to experience the immense economic pain they endured.

I'm not sure if you jump into threads in order to hijack them or what. I'm not sure what point you're attempting to make half the time as it generally doesn't have all that much to do with the OP. Do you come here just to argue? You are certainly entitled to your opinion but your replies are typically short and seem to be jabs at other members. Seems like trolling to me.

a reply to: neo96

Really not sure what you are talking about.

Wall Street and government are the same in pretty much everything....but you want to believe its about political differences or something ?

Fact. People getting ripped off, system screwed, and why do you think Wall Street should get money when they caused most of the damage , already profited themselves into the trillions and because margins are down to only 4000% they need some more breaks ???

Seems to me they know another crisis is coming and of course don't want to be held accountable for it.

You'd think the people would find it odd that these banks need bailed out every 6-10 years.

Let's play a new game. Guess what we AREN'T on the hook for............ Give up? Here's the answer:

It's as Chomsky says. We (U.S.) are a corporate state. A plutocracy, not a democracy. We're not even a republic... not even close. And until this is solved nothing that is said or done matters here in America. Not for you or I, that is. We either grow up, learn, and push back, or we get used to it.

So what trend do you see?

our entire economy is going to collapse soon

Foreign economic insurrection is happening on the U.S. Government !!!

Google:
" Bank for International Settlements Basel Committee "

On December 11, 2014, the US House passed a bill repealing the Dodd-Frank requirement that risky derivatives be pushed into big-bank subsidiaries, leaving our deposits and pensions exposed to massive derivatives losses. The bill was vigorously challenged by Senator Elizabeth Warren; but the tide turned when Jamie Dimon, CEO of JPMorganChase, stepped into the ring. Perhaps what prompted his intervention was the unanticipated $40 drop in the price of oil. As financial blogger Michael Snyder points out, that drop could trigger a derivatives payout that could bankrupt the biggest banks. And if the G20’s new “bail-in” rules are formalized, depositors and pensioners could be on the hook.

The new bail-in rules were discussed in my last post here. They are edicts of the Financial Stability Board (FSB), an unelected body of central bankers and finance ministers headquartered in the Bank for International Settlements in Basel, Switzerland. Where did the FSB get these sweeping powers, and is its mandate legally enforceable?

The Global Bankers’ Coup: Bail-In and the Shadowy Financial Stability Board

The Basel Committee, The Central Bank of Central Banks !

I seem to remember reading that at the last G20 meeting, held recently, they all agreed to allow a bail-in scheme too. Essentially, as I saw it explained, under the new scheme the banks will be allowed to reclassify deposits, not as monetary deposits belonging to the depositor, but as an investment in the bank, allowing them to use those deposits for more of their risky casino shenanigans! I think that was all hidden behind the media hype over Putin being there and Russia bashing.

The problem is, we are shackled to the banks as our employers no longer pay in cash, but instead have everything deposited straight to the banks, so we immediately lose all control over our access to our money.

Edited to add - I think the bankers all know the big Ponzi schemes have just about run their course (as they have before) and are making sure they keep what they've got and have the rest of us pay. That, and ramping up for a new world war to thin the herd, cover their crimes and drum up some new profit from the war loans, just like they did the last time.

If I understand, the 2008 stimulus was not enough, then? What are Citigroup, Jamie Dimond and all those types holding over our Presidents, Bush and Obama? It just cannot be money, Bush came from a very rich family and powerful. Is it our retirements? Could they be threatening to throw retirees, and near retirees out in the streets? Our private pension is held in Bank of America. Glad I know how to live poor if it does happen.

a reply to: MOMof3

Well, some here (ATS) have, in a nutshell, outlined what "they" have over "them". According to them,... and if the history and connections are true, "they" are a part of "them"... Because "They" are "them"; that is, we have been infiltrated and taken over from within... Hence, we've become a corporate state. It happened before most of us were born. They play the long game, and as the illusion crumbles and we see/experience the real reality, they become more bold and audacious. Oh, the giddy multitude... we. Ignorance.

We live by a set of rules, and "they" live by a different set of rules. Corrupted legislation, kangaroo courts, and strong arm tactics... We play their monopoly game. Our "leaders" know who the real leaders are and dance to their songs and we, the giddy multitude, pay the price.


.... let us eat CAKE!

Well Flux8, If you know anything about The Taxation Process, that's exactly how it works. We, The Middle/Lower Classes pay taxes to The Wealthy. The Politician/Bureaucrats do The Collecting for them with the Help of Some Heavily Armed Thugs/Police/Military. They, The Pols/Bureau's then provide us with Very Overpriced No Bid (except to Friends/Family/Cronies) Services. Most of The Money (Our Collective Labor) ends up in The pockets of The Wealthiest .001 percent. With A Nice Fat Slice going into The Pockets of The Politicos, of course... Good Post and Peace Arjunanda. reply to: Flux8