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| One Dollar Of Capital HAS Been Recognized in forum [Market-Ticker]
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Nevertoolate
Posts: 1219
Incept: 2007-08-26
San Antonio de Bexar de runover with illegals, Texas
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If they recognized it and changed the banking system, then they would not have the "Power" over the little people. It all comes down to power and not what is right or wrong. This will end bad... very, very, bad.
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"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11
Before you attempt to beat the odds, be sure that you can survive the odds beating you.
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Bluebird
Posts: 1381
Incept: 2008-05-02
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No one believes me that this global financial Ponzi bubble is monstrously huge and is going to burst. People tell me technology keeps getting better and better, there is nothing to worry about.
If I can't convince even 1 person that the world is on the edge of a debt-driven collapse, it is impossible to demand the politicians to address the frauds and punish those responsible.
As Nevertoolate said above "This will end bad... very, very, bad."
Reason: changed for clearer phrasing
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Winstonsmith2009
Posts: 1060
Incept: 2009-08-05
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"Once a nation parts with the control of its currency and credit, it matters not who makes the laws. Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of Democracy is idle and futile."
True, but the theory behind allowing a private, for profit organization do that was that they were _supposed to have_ behaved more responsibly than any government would in that function. I think if the fedgov had been in full control of its currency and credit since 1913, we would have many years ago come to the same end we are now approaching and then repeated the same over and over.
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Tank
Posts: 440
Incept: 2007-12-14
Seattle Area
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Eventually out-of-control cancer always kills the host.
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"A danger foreseen is half avoided." -Thomas Fuller (1608-1661)
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Peterm99
Posts: 4982
Incept: 2009-03-21
SoCal
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Winstonsmith -
The issue is accountability, no matter if it's the gov't or a central bank - actually, both could work equally well if accountability can be maintained.
In the case of gov't, if they are forced to raise taxes for every cent of spending (and obligations for future spending), the voting public will keep them in line. In the case of a central bank, if all officers were to serve jail time for failure to keep money/credit growth commensurate with real GDP growth, that would keep them in line.
Of course, those are idealized situations. Corruption, which includes bribery of all types, selective enforcement of laws/regulations, legalized book-cooking, and effective propaganda use (e.g., MSM and lies in BLS reporting, etc.) assures that neither will work as it is supposed to.
I doubt if there even exists a realistically achievable solution that would work on a long-term basis.
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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
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Carlfiser
Posts: 19
Incept: 2011-04-06
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Karl,
My father is in the process of a reverse mortgage. He knows this non-recourse loan will significantly lower his monthly nut for the time being and that his children and grandchildren will "eat it" at a later time, especially if his house goes upside down. The reverse market seems to be picking up steam, and it reminds me of the mirror-test mortgage years in many ways. Will these brokers go to jail later? Who and how will this trend harm in the future? I was wondering if you could write about reverse mortgages, and if you have written about it before and I missed it, I apologize.
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Cgbgjr
Posts: 505
Incept: 2010-04-14
Porcupine Quillage
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My Congressman (John Larson, D, CT) was on CSPAN this weekend. He argued that the solutions to all of the nation's problems was to bring back the New Deal.
He will be re-elected in a landslide--again.
The only interesting question is whether he actually believes what he is saying.
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You know you are in the Dark Ages when Alchemy looks like Destiny.
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Nevertoolate
Posts: 1219
Incept: 2007-08-26
San Antonio de Bexar de runover with illegals, Texas
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Carlfiser-Go to some of these reverse mortgage websites and play around with the numbers. In states that are under the 417K conforming amounts, you better have enough equity so that the Banksters come out. By that I mean if you (and your spouse) are young enough even with low interest rates, if your house is worth 425K they might give you 300K each at 65 years old. Take the same scenario and put in a house worth 600 K and they give you like 325K. At 750K they only give you 350K. Basically, you are selling them your house today and retaining a life estate in it. Your heirs won't get anything, unless it's a castle and then the Banksters will have made huge profits before they get anything that is left over.
This is a last resort for BabyBoomers that have lost their 401K's. Sure they wanted their homes paid for by the time they retired, problem is either one of the wage earners lost their job, or they are supporting kids/grandkids or both.
Their won't be any $ to help take care of them in their old age AND the children won't get anything from their parents.
Another giant screwjob to the AmeriKan public. Passed by CONgress and Paid for by the Banksters.
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"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11
Before you attempt to beat the odds, be sure that you can survive the odds beating you.
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Sunkeye
Posts: 190
Incept: 2010-12-14
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mister d
my humble opinion your equation:
true economic growth = delta gdp - delta govt debt
is your single most important contribution to the debate
i hope you will pound pound POUND that that insight whenever
you get camera time
i say this b/c with one simple equation you expose both the
fakery in reported gdp numbers as well as the effect debt has on it
and it makes sense to anyone who has to balance a checkbook every month
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Salt
Posts: 191
Incept: 2010-05-28
NC
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We, the people, either stop this right now and demand that our politicians address these frauds...
Won't happen, either way. The trough slurpers have grown to numerous and the politicians do not listen, except to the slurpers. The slurpers are content so long as the slurping continues.
It's game over. Just waiting for the whistle.
Big question is, what are the slurpers going to do when the slurping stops?
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Lumpeninvestor
Posts: 2339
Incept: 2007-10-16
98072, USSA
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Quote:"Give me control of a nation's money and I care not who makes the laws." - Mayer Amschel Rothschild (23 February 1744 – 19 September 1812)
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Distributing insolvency only destroys the last remaining islands of solvency in a bankrupt world. - Charles Hugh Smith 8/23/2012
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Nevertoolate
Posts: 1219
Incept: 2007-08-26
San Antonio de Bexar de runover with illegals, Texas
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They will all panic! They will have to get off their asses and work to eat because they have been sitting on them for multigenerations. Emergency rooms will be overwhelmed by people wanting to be admitted for any reason so they can eat. The gangs will take everything from them and they will starve. Then it will be the prepared against the hoodlums. As long as you make it difficult for the hoodlums, they will go somewhere else. They will ultimately turn on each other and like other parasites, eventually die off. Like I said, this will end bad, very, very bad. On the positive side, most liberals will be gone because they don't own guns and the ones who "feel sorry" for everyone will have been killed for their possessions. Just think, no CNN or MSNBC.
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"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11
Before you attempt to beat the odds, be sure that you can survive the odds beating you.
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Steelhead23
Posts: 2041
Incept: 2008-09-09
Portland OR
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Karl, I don't know where would be best to post this, but this you should read. http://www.cnbc.com/id/47633576The article describes how the CBs are pressing the TBTF banks to purchase sovereign debt, including impaired sovereign debt. Makes sense - if the sovereigns default the system blows up. So, if JPM buys Greek 10Y notes, paying a cool 30%, they can lend against those bonds at the rate of 12 to 1. One dollar of capital, my donkey. They are doubling down on the Ponzi. Pass the Dickel.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Peterm99
Posts: 4982
Incept: 2009-03-21
SoCal
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Steelhead23 wrote... . . Greek 10Y notes, paying a cool 30% . . . And just who is actually paying the 30%? Oh, yeah, Greece, which is getting their money from TBTF banks which are also holding Greek notes paying 30% which . . . Yeah, that'll work real well!
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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
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Mannfm11
Posts: 3539
Incept: 2009-02-28
DFW, Tx
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I don't buy it. The government is what has maintained this scheme for 200 years. Jackson tried to get rid of it. Wilson tried to rig it with the Fed. The gold belonged to the people. The government and bankers used their own mistakes to steal all of it and make us liable for their debts. Reserve banking isn't a private industry. It is a government run ponzi scheme. The first thing FDR did was come in and rig the game for the bankers. Like any politician, he did the opposite of what his lips said he was doing. FDR was governor of NY. What do you think? Think the bankers put an anti-bank man in the governors mansion? He did what Rockefeller and JPM told him to do, just as Wilson set the country up so these 2 groups could suck us dry 20 years prior. http://library.mises.org/books/Murray%20....
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Harley
Posts: 19
Incept: 2011-09-22
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Gen - More proof of bankster fraud you mentioned above in today's NYT. This one uncovered by a shareholder lawsuit against Bank of America for not disclosing Merrill's likely mortgage losses prior to the proxy vote to acquire it. http://www.nytimes.com/2012/06/04/busine....I'm no expert on SarBox, but the CEO sure sounds like he admits to a crime under oath. |
Marvinmartian
Posts: 750
Incept: 2011-03-16
Pasadena, CA
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Congress is given the power to coin money and regulate the value thereof. Congress has given away this power to the Federal Reserve Board.
The Federal Reserve Board has some politically controlled members, but the majority of them are from the individual federal reserve district banks (FRB-NewYork, FRB-Texas etc.) These individual district reserve banks are explicitly owned by the banks in their district.
This means that Congress has given away the regulation authority over the banks to the banks, quite conciously. There is only a thin veneer of respectability through the mechanism of the Board of Governors.
Only political pressure can force Congress to take back the power, and the public's eyes glaze over whenever the mechanics of the money supply are explained.
Kim Kardashian wins the publics brief attention span every time.
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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Quote:The gold belonged to the people. I suppose that makes your average Peruvian super wealthy eh?
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Gates
Posts: 6271
Incept: 2008-01-29
Scottsdale
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Salt - they will show up at your house looking for a lick... prepare accordingly.
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Clawback
Posts: 85
Incept: 2009-11-08
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KD,
Why is ALL of the growth since 1980 fake, instead of just some of it? Some of the debt incurred can be serviced because it was used in some productive capacity and has paid off or will pay off in the long term.
Maybe I've missed it, but have you posted somewhere an equation that you would argue shows "real GDP growth" in terms of debt incurred? I've read the Ticker for years now and I understand the problem indicated by the chart you used in this particular ticker, but I don't recall your ever having made the claim that there has been Zero GDP growth since the debt bubble started inflating.
Thanks!
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Genesis
Posts: 130717
Incept: 2007-06-26
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On the contrary; I've posted that dozens of times. Simply subtract one from the other and you see that the quarterly change number is negative throughout.
Everything is a balance sheet.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Clawback
Posts: 85
Incept: 2009-11-08
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OK, so a given year's GDP should already include the debt incurred, PLUS the organic or real GDP growth? Got it. So if debt added each year is greater than the total GDP growth for each year, then we've got problems -- that much is crystal clear.
However, I still don't understand how we can therefore claim that there has been no GDP growth over the last 30 years or so. There is much more productive capacity now than there was in 1980, no? There is quite simply more stuff available for purchase and more capacity to make it than there was then. (Bear with me here.)
I think your comment that "everything is a balance sheet" is spot on in identifying the problem, but there we're talking about assets and liabilities, not GDP. GDP is not a balance sheet. It's a measure of economic activity. It's a measure of consumption and production, not the creation of wealth (though certainly it's related).
And isn't that the problem, not that there hasn't been ANY GDP growth, but that wealth (fake wealth) will ultimately be destroyed (i.e. recognized for what it is)? Say, for example, that in 1982 I put all my savings into a hypothetical 30-year bond issue (paying no coupon) that goes kablooey in 2012 and I'm left with nothing. I will still produce and consume $X-thousand worth of stuff this year and next -- I just won't be as wealthy as I thought I was. There may be a GDP effect from my wealth being destroyed, but it isn't simply a matter of subtraction.
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Genesis
Posts: 130717
Incept: 2007-06-26
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If the price of stocks is 10 times what it should be based on all this credit money, and the price of houses is 3x what they should be, what happens to all this alleged "wealth" you think you have when the imaginary price disappears?
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Nelstomlinson
Posts: 124
Incept: 2011-12-21
Juneau Alaska
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Karl, it's more than just the illusory wealth disappearing in a puff of smoke. For decades, every investment decision has been based on illusion. There are trillions of dollars of mal-investment that will have to be re-purposed and re-distributed through bankruptcy.
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