HOLY BAILOUT - Federal Reserve Now Backstopping $75 Trillion Of Bank Of America's Derivatives Trade

Originally posted by Mourninwoody
I think this is the very definition of "odious debt", I don't think anyone in power really believes it will be paid back. I have no idea what all this economic turmoil means, if its intentional or not but I know normalicy bias can leave people in a bad spot.

I've been buying canned food and other essentials for a while now and urge others to do the same. Money is a means of exchange and a store of wealth, I don't think thats an illusion. We need to trade with one another in order to survive. These bailouts are destroying our currency and for a little while a different means will be needed for trading. Anyone thats ever been hungry knows theres no replacement for food (you can't eat precious metals) and I believe that will be the most important asset until a new paradigm is created.

Good thing I watch a lot of Survivorman and Man vs Wild...... It looks like Ill have to hunt for my food because I havent taken the necessary steps of buying up canned goods like you...

If something is too big to fail shouldnt it be broken up? If these banks that got bailed out because they are so big they are a threat to America, then why do we allow them, we don't allow monopolies

I want to thank everyone who participated in putting this into laymen terms. Together you guys paint a very detailed and, well quite frankly frightening picture.

Starting today I am going to go to every available church and other organisations that give free food and stock up on canned foods. I suggest to everyone reading this to do the same. even if there is no earth shattering economic collapse you are better safe than sorry. It wouldn't hurt to have a large stockpile of canned foods.

There certainly seems to be plenty of evidence for an upcoming major economic collapse and so therefore it makes perfect logical sense to prepare for it.

In Florida when there is a hurricane coming in our direction most people that are in danger stockpile water and food (and gas and batteries etc.). Not that they are sure that they will be hit by the hurricane because it might not even make landfall. But just in case.

I strongly encourage everyone to make any preparations they deem necessary for a major economic collapse.

-Alien

Originally posted by jhn7537

Originally posted by Mourninwoody
I think this is the very definition of "odious debt", I don't think anyone in power really believes it will be paid back. I have no idea what all this economic turmoil means, if its intentional or not but I know normalicy bias can leave people in a bad spot.

I've been buying canned food and other essentials for a while now and urge others to do the same. Money is a means of exchange and a store of wealth, I don't think thats an illusion. We need to trade with one another in order to survive. These bailouts are destroying our currency and for a little while a different means will be needed for trading. Anyone thats ever been hungry knows theres no replacement for food (you can't eat precious metals) and I believe that will be the most important asset until a new paradigm is created.

Good thing I watch a lot of Survivorman and Man vs Wild...... It looks like Ill have to hunt for my food because I havent taken the necessary steps of buying up canned goods like you...

Absolutely, I hunt too, But don't forget your fruits and veggies. lol

Its never to late to start buying a couple of extra cans to put away and if things work out you can always donate them to a food bank.

reply to post by MidnightTide


I literally just read an interview that said that the bankers were ofering trillions of dollars to a lot of other countries to keep things the way they are, but who's to say really what I do know if that there is that much money in so few hands tha should be remedied post haste and another thing is with that much money we could probably transform the entire United States to Self-sufficecny and start taking care of other countries and start eliminating world wide poverty and homelessness...

Originally posted by CaDreamer
seems like a no brainer to me....BoA moves all those derivatives to their depository bank knowing that there is going to be a run on the banks on the 5th.... on the 5th the banks implode but BoA declares bankruptcy of its depository arm and writes off all those derivatives. poof debt gone... at least that is what it looks like to me.

banks are evil...

No one starred your post, so I am going to.

I think you may just be on to something here.

This is a perfect storm to implode all world currency's and form a one world bank.

reply to post by Realtruth


An accounting hat trick with a dual purpose. I would not be surprised if that was the plan when they thought to do this. Nice catch you 2.

This post

looks like im pulling out of chase paying their 25.00 dollar fee to cancel. im too scared of these banks. ima run to a credit union or to avoid the fee ima do direect deposit 5 dollars and deposit the rest into a credit union lol. that way nobody gets paid. LOL. I just don't trust the intelligence at these banks.

Originally posted by Realtruth

Originally posted by CaDreamer
seems like a no brainer to me....BoA moves all those derivatives to their depository bank knowing that there is going to be a run on the banks on the 5th.... on the 5th the banks implode but BoA declares bankruptcy of its depository arm and writes off all those derivatives. poof debt gone... at least that is what it looks like to me.

banks are evil...

No one starred your post, so I am going to.

I think you may just be on to something here.

This is a perfect storm to implode all world currency's and form a one world bank.

edit on 19-10-2011 by Realtruth because: (no reason given)

I'm afraid you could be right in this assessment. Maybe the timing of this OWS protest is more than it seems.

I'm not the guy to do it as I don't have expertise in financial areas but I think it would be a good idea for someone on ATS to begin a thread that follows the paper trail of the banks as an investigation into all things fraudulent done by them over the course of the last say 5-10 years. An epic investigation much like the epic Fukushima thread.

Just a thought.

what i don't get is why they don't just forgive each other's and everyone else's debt, wipe the slat clean. and we all start with no debt, and work from there. it's not real debt anyway, so why pretend it's real? ?

reply to post by MidnightTide


Just the numbers alone are scary,let alone what they plan to do with them...

reply to post by wayouttheredude


When I saw this topic the first thing that went through my mind was, since the feds are going to get audited one way or another, why not air all the dirty laundry now, use all current world situations to deal with looming issues and create a solution out of it.

I know they may be evil, but what a brilliant plan to make it all go bye-bye, if this is truly their intentions.

A few years back I was laughed at by well educated friends in the financial industry, when I spoke of 100 trillion dollar problems, their remarks were there is not that much money and assets in the world.

I just sent those smack-tards this article.

Originally posted by ArrowsNV
The more I read stories like this one the more feel like destroying these big banks. Lucky for them I don't live anywhere near their major branches...

Their day will come one day, the people around the world will be sick of their # and destroy them.

Civility is a man who walks softly, but carries a very big stick.

Why don't they reverse the monetary flow? Because they can't, there's nothing there.

End the Fed
Re-issue the US dollar.
The market could crash on a Friday, and by a week later, it's a whole new market.
F the bankers, they f'd up, they dropped the ball. TAKE IT FROM THEM, somehow. There's a LOT of ingenuity out here, I think their days may be numbered, and they damn well know it.

I am not sure what this all means ( I can make assumptions) but if some could explain this to me in layman's terms I would appreciate it.

- Spike

Originally posted by undo
what i don't get is why they don't just forgive each other's and everyone else's debt, wipe the slat clean. and we all start with no debt, and work from there. it's not real debt anyway, so why pretend it's real? ?

edit on 19-10-2011 by undo because: (no reason given)

I think its because if the US gov't owned our debt, they could possibly do this if they were nice.

But, the US doesnt own the majority of its debt and we can't just get other countries to forgive us (someone can correct me if I am wrong. I am no expert). We occupy a great majority of the world wether that be military, monetary, media, or political agents. Our american gov't (who sold out to the Fed) owes the world a whole lot of everything we do not have. And unfourtunately we got duped into thinking this is the greatest country in the world while systematically destroying the rest of the world just to make us look better.

Metaphorically we are the masked rapist who goes around the corner, puts on a police uniform and runs back to the victim offering "help."

Originally posted by CaDreamer
seems like a no brainer to me....BoA moves all those derivatives to their depository bank knowing that there is going to be a run on the banks on the 5th.... on the 5th the banks implode but BoA declares bankruptcy of its depository arm and writes off all those derivatives. poof debt gone... at least that is what it looks like to me.

banks are evil...

This is what scares me. That there is such a loophole that would allow banks to, in the most literal since of magic, poof their debt away. If this scenario were to play out (I have an account at MTB after it ate up my smaller branch back Wilmington Trust and plan on taking taking my money out on the 5th and closing my account (going for WSFS, another small branch) then the banks essentially wipe their hands clean and will in all likely hood write themselves nice bonuses for again screwing the 99% of us over.

No responsibilty + no accountability = doom to repeat history.

We live in scary nd unstable times my friends

Originally posted by ImmortalThought

Originally posted by undo
what i don't get is why they don't just forgive each other's and everyone else's debt, wipe the slat clean. and we all start with no debt, and work from there. it's not real debt anyway, so why pretend it's real? ?

edit on 19-10-2011 by undo because: (no reason given)

I think its because if the US gov't owned our debt, they could possibly do this if they were nice.

But, the US doesnt own the majority of its debt and we can't just get other countries to forgive us (someone can correct me if I am wrong. I am no expert). We occupy a great majority of the world wether that be military, monetary, media, or political agents. Our american gov't (who sold out to the Fed) owes the world a whole lot of everything we do not have. And unfourtunately we got duped into thinking this is the greatest country in the world while systematically destroying the rest of the world just to make us look better.

Metaphorically we are the masked rapist who goes around the corner, puts on a police uniform and runs back to the victim offering "help."

well that's the thing, if our banks fail, the whole world's economy goes kaboom. so why not just forgive everyone's debt? everyone forgive everyone else, problem solved. it's not real debt. it's made up by agreeing partners. so everyone forgive everyone cause it ain't real anyway.

They have already admitted that US funds were used to prop up Euro banks.

They have already admitted that the global derivatives ponzi scheme is north of $1,500 Trillion.

They bankrupted Iceland, Ireland, Greece, and others.

In the past 25 years 21 nations have been attacked with engineered major inflation
and then looted by the robber barons.

John Perkins who wrote confessions of an Economic Hitman explains this was done on purpose.

The article "Quadrillion dollar powder keg about blow" explains how it was done, google it.

What is happening is exactly what they want to happen.

Order out of Chaos, Problem, Reaction, and Solution.

The only method that has ever set back the OWO/NWO was Gandhi, but I do not see
the current groups working that path.

With AR-15's in Phoenix and Vets screaming at cops in NYC, its just a matter of time before
violent escalation.

Have your plan A for saving the country and or the world, but have a plan B for it going like
what has happened before in the history books.

Good odds what has happened before is about to happen again.

Close to 300 million dead in the past century due to governments.

Prepare accordingly...

Good Luck to all the good ppl !!!

reply to post by undo


To those who have created the illusion of money (which I agree the debt is not real) it is real. Its real becasue money equals control of the people who also think money is real. We are all tryin to get somewhere, but we want to get there by our own means aka people rather drive then ride. Hence slave DRIVERS

Most people want what you said though and maybe just maybe people will realize this and decide to make a CHANGE instead of the change$.