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

reply to post by Ex_MislTech


1,500 trillion!!!!!!! I can't even begin to wrap my mind around that.

I think you are correct about the Ghandi movement. People are to afraid of guns (with reason) to not take up arms against what starting to look more and more like totalitarian gov't or the NWO.

Thanks for the heads up on that article also.

Good luck my friend

reply to post by undo


I agree

Originally posted by wildtimes
reply to post by sbctinfantry

 

If you can't spend your money on a house, because you can't get approved to buy one due to your status, you buy a car for cash or no questions asked.

Once you have the car, you start building credit on other things, and the illegal part dissapears when your phony ID matches your credit report.

Just because they are illegal, doesn't mean they are broke. It seems your views of the world are jaded, and you don't understand the problem's scope.

Jaded?? Where did that come from? I said I worked among the struggling Central American immigrants, and that none of them lived in mansions.

And your step-by-step from rathole to Escalade for cash or no questions asked....how does that equal building credit?

I have been present when an acquaintance went out, on a sunny afternoon, to get a fake ID for $10. Took him all of about 2 hours from idea to in-his-hand.

I have seen how HR personnel seem "not to notice" that some SS cards are obviously fake. I have seen bank tellers accept those fake IDs to cash checks.

I have known doctors and attorneys from central america who were working as busboys at Golden Corral.

The point of my earlier post was that it is stereotyping to blame "illegals" in a blanket allegation. What the hell to YOU know from the INSIDE about this population?

Big deal, one guy made a lot of money and has a lawyer (a lawyer? please. Lawyers are at the very bottom of the barrel in many, many cases).

MILLIONS of hardworking people are driving beat up old trucks or cars, or using public transportaion, and are sending money home to starving or ill family members on tiny ranchitos where there is no plumbing or electricity, let alone no computer or cell phone. The "rathole dwellers with Escalades" are a different sector of society, dude, and most of 'em ain't hardworking immigrants. They're drug-dealing thugs. The occasional roofer who has a nice truck and nice boots and a nice western hat is not part of that group either.

"Jaded" my fanny.
Whatever.
Try aware, educated, and experienced.

You need insurance, and other things tied to vehicle ownership. One piece of credit opens up another. When you buy your next car, is anyone going to say,"Guy that bought an Escalade, we don't want your business. We won't bend the rules for you and help you get what you need."

If they did, that gentleman will go elsewhere for his needs.

@ the OP

I almost forgot to respond to this because my thoughts were interrupted by a racist...

Simply put, regarding your thread topic, this is what you call a trojan horse.

War is upon us, and it's going to be costly. It might not be violent, however. That's exactly what the banks want. Barbarian animals to herd.

I would withdraw my money, but I don't have any so who cares, amirite?

Classic Hegel Dialectic---I can see it 16 light years away here on Altair
Get the people so mad with the financial system that they will be ready to accept just about anything.

They run presidential elections the same way. Some of you know this and dont quite know how to remedy it or you let your logic and distorted egos shut you down.


Good news:
I'm more powerful than any dark entity, light entity, freemason, coven, order, gang, society, sorcerer, druid, or organized group out there thanks to my good friend>>>> Metatron. In of myself i can barely tie my shoe.

We come soon...Hang in there folks.

sweet, doom.
.

Since all this money is made up anyway, could not the government reject debts owed on this Fiat currency, and wipe the slate clean?

How has centralized reserve banking been removed from countries before?

If the Fed backs this American's have every right to torch the banks coast to coast. 75 trillion distributed in the population would make one nice payday. If the banks are losing there shirts let them fall and get the repo like so many american's faced when they could come up with there bills.

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)

Your post has some merit but keep in mind there was and is a" huge" amount of money being made here.
Even as Countries sink in debt someone somewhere is making a lot of money.
You can cancel out the debts maybe.........how do you cancel the profits?
I don't think they "profiteers" will be offering any monies back to the people.
Regards, Iwinder

reply to post by Iwinder


there's only so much money can do and after that, there's not much else. in addition, if everyone else is poor, it would be rather difficult to sell them products or make money off of them. as you can probably see, the intent doesn't seem to be to forgive debts but instead to use it as a means to force socialism. because if there's no money to buy, the only thing left of value is power.

Originally posted by CrikeyMagnet
Since all this money is made up anyway, could not the government reject debts owed on this Fiat currency, and wipe the slate clean?

How has centralized reserve banking been removed from countries before?

I believe that Ron Paul has even indicated that "we the people" are not beholden to this debt because it is that of financial institutions and because the currency is NOT legal tender (fiat currency) in the USA if elected he would simply default on the debt, because in constitutional reality the debt DOES NOT EXIST!

Originally posted by warsight
If the Fed backs this American's have every right to torch the banks coast to coast. 75 trillion distributed in the population would make one nice payday. If the banks are losing there shirts let them fall and get the repo like so many american's faced when they could come up with there bills.

Actually torching the buildings would be a response they would expect, even civil type wars, because in the end TPTB can profit from all of it.

It is very simple, it's like a game of Monopoly, if you want to play in the game everyone has to play by the rules, except for the game makers, because they can change the game, rules and print whatever they like.

Answer: If someone does not like the game don't play it, don't burn it, don't destroy it, just walk away. Plenty of other games can be invented. People have to play a game to make the game viable. Simple rules!

We are being raped, our livelihoods are being stolen and our children's futures are being robbed. That said, until we no longer have organized sports, cable television, alcohol, cigarettes and coffee we will never be motivated as a people to do something about it. The fact is we are pathetic, apathetic cowards who wont stick out necks out for fear of losing our simple comforts passed on to us by the slave owners. If anyone feels they can argue this I'd love to hear it.

reply to post by Ex_MislTech


I can't see there being a conscious plot or effort to bankrupt Europe, America and possibly the world. Wouldn't the simple truth be, that people in positions of power have expedited short time financial gains with absolutely no regard for any long term consequences? This is the more likely scenario in my mind. Bringing the world to it's knees doesn't logically aid the 1%'ers. While the majority of them at the moment enjoy largely complete anonymity, if social order breaks down the rich become targets. They become hunted, perhaps literally.

That kind of dystopian future you might see in films like THX1138, Soylent Green, or V for Vendetta where the state has total control just is not going to happen. It's science fiction. 1, 2 or even 5% of a population, can not hold back the other 95% if the basic needs of the people stop being met (food, power, heat, etc.).

Greed and the exploitation of others is as old as mankind. It's a shame that despite all our technological and scientific achievements, we haven't conquered the simple flaws of human nature.

reply to post by zigguratvertigo


I agree completely.
The whole NWO thing has never held water with me because I find it really hard to believe that the PTB wold ever think that far ahead.
The end game is and always been money. They only want control insofar as buying politicians to pass laws making it easier to get that money.

ETA: I also fear that exploitation and greed are not a flaw of human nature, but human nature itself.

reply to post by sbctinfantry

my thoughts were interrupted by a racist...

WHAT ????

If you are referring to me, I take HUGE resentment to that remark.
Jackass!

They are triying to get as much as they can
before they going in to hiding.

the best thing they can do is
end all the old money paper.
and start over.
any one try to cash in 75 trill!
take it and burn it and tell them to take a walk.

Originally posted by MidnightTide
HOLY BAILOUT - Federal Reserve Now Backstopping $75 Trillion Of Bank Of America's Derivatives Trades

This story from Bloomberg just hit the wires this morning. Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC.

This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn't get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to "give relief" to the bank holding company, which is under heavy pressure.

Read more at:

dailybail.com...



Yes, you heard that right - 75 trillion dollars.....the big 5 American banks have trillions in derivatives...more money then there is in the world. (like JP Morgan 79 trillion.) The banks want the taxpayer to be held accountable.

To me this is huge, why would they move these to a depository arm - they are going to have to show transparency in reporting and accounting. It is my opinion these banks have been insolvent for years, but they have been cooking the books to hide the fact. I guess this might be why they are coming down hard on people trying to close their accounts - they need all the liquidity they can get their hands on.

and personally, I have seen a lot of errors lately with banking ATMS - something is coming I believe (so make sure to have some extra funds on hand if a bank holiday is coming in the near future)

AMERICA, IS NOW OFFICIALLY DEAD.

READ THIS BOOK!
Big Oil & Their Bankers In the Persian Gulf: Four Horsemen, Eight Families and Their Global Intelligence, Narcotics and Terror Network
Dean Henderson (Author)

This may be bad for the banks and this may be bad for the people who have money in the banks and this may be really bad for the economy which is going to continue to go to Hell in a handbasket anyway so I'm not too personally worried because...

I do not own any bank accounts. I keep all my money in "other places" and I ain't talking sock drawers.

Listen people. banks keep your money with interest - little interest that isn't worth anything because as that interest grows the worth of the dollar gets smaller. It's not worth it for that reason alone.

Sure Banks offer some services people like to use but really, you can get most of these same services without using a bank. And they charge you for those services.

Banks make money not for you but for themselves. it's a business and they will be damned if they really care about YOUR money.

You all have been brainwashed from the time you were old enough to make your first buck to use a bank. You grew up thinking this is the right proper accepted way to do things. You bought into the lie the banks wanted you to believe.

When are people going to wake up and NOT USE BANKS. Take your money out NOW. Let them fail ! Do research on other ways to get those services you require and other places to store your money. ( even at home in e Big Thick safe is better than a bank) There are tons of these places much better than any bank.

I have been saying this for Years and everyone always laughs at me. Soon it would be my turn to laugh but I wont because it will really be way too sad.