"NO BID" threat looming. When the computers stop trading...any tradable funds may drop to zero! | |
IssueX User ID: 14348632 United States 11/12/2012 11:38 AM Report Abusive Post Report Copyright Violation | Don't put too much faith in this. Whilst gold and silver have had a certain stability to them in the past because they are a physical and scarce 'real thing', they won't save any of us from the future. The system is so out of whack, and the issues driving it all are so vast and detached from any conceivably sustainable system that it will still fall apart. You see what most people are not factoring in is that there are hundreds of millions of disenfranchised younger people (by younger I mean forty and younger) right across the western world who really couldn't give a crap about the security of Boomer's investments. When the reality of their future finally dawns on them those people will rip this society limb-from-limb in a violent convulsion of rage and despair. It won't matter if you have gold assets or silver because the entire fabric of the system, and its infrastructure is going to be destroyed. The only questions really left are when will the spark come that ignites the inferno, what alternative ideologies will present themselves and vie for power, and how long will the chaos last? Wow, where did you come from? And do you hang out here very often? I do tend to spend a little time each day lurking around GLP. Its kind of like an addiction that I can't kick (I don't join because Trinity keeps banning my IP). Its fascinating to read the rantings of so many people who are totally deluded, clinging the old 'certainties' yet ignoring the growing tide of anger and disillusionment that is permeating through all western societies. this is truth this is why I sold our house in 2006 and did not purchase another one just think of the fact there are fewer young people than boomers...that those young people will NEVER live as well, earn as much, save money as the boomers did that those young people are 10x deeper in debt just to go to college, have emerged into a world where they are earning less yet paying 500% more for just about everything needed to live than the boomers did How the fuck is this system going to support houses that cost $500-$1MM in most urban areas of the USA? That is just the beginning The fact that this house of cards has not blown over so far has given many who were nervous a new false sense of security...and because of this more and more people - even the cautious - are being sucked into the casino this is always the last phase of a blow off...when even the previous bears capitulate and join the market ...just before the implosion sorry , just the way I see it, and I'm willing to eat all the losses if I'm wrong and a huge bull market is about ot start but frankly, given global demographics, global consumer debt levels, global government debt levels, I think we're about 5 minutes from midnight |
Resister User ID: 669410 United States 11/12/2012 11:42 AM Report Abusive Post Report Copyright Violation | This is an important thread. It isn't just trading that is done electronically that is so important either. Because of our high tech society combining with fractional reserve banking, all the money you think you have that isn't in your hand is just a glowing electron in a computer somewhere. You don't have paper dollars in a vault and it sure isn't backed by anything tangible. Your savings account, your checking account, everything is really only just data because banks are only required to keep about 1% of total deposits on hand. Think about this folks. How many of you actually use paper money at all? Most people use a piece of plastic that a machine uses to tap into the data at your bank. When the trading stops it isn't going to take days for the effect to ripple through banks and down to consumers. You will most likely find out that something disastrous has happened when you swipe your card at the gas pump, or the grocery store, or the fast food restaurant and it just doesn't work. Got preps? "God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787 |
TraderRob User ID: 3560801 United States 11/12/2012 11:49 AM Report Abusive Post Report Copyright Violation | i just got a letter from my bank telling me i could purchase foreign money. Quoting: Anonymous Coward 27540931 Why should they want me to purchase foreign money? Wats up? They will screw you with low exchange rates and transaction fees. AT least for now, for those traveling, better to trade on the other side... as opposed to do it in the US before travel. Have a nice day = GFY. GFY = Go Fuck Yourself. If this offends you then have a nice day. |
Anonymous Coward User ID: 27237669 United States 11/12/2012 12:22 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 203360 United States 11/12/2012 12:35 PM Report Abusive Post Report Copyright Violation | Most loans to NINJA customers with horrible credit SHOULD NOT BE GIVEN. They are allowed because it gives the banks a legal excuse to say they have new ASSETS when they know the ASSETS are CRAP! The system runs on DEBT, so the banks simply need "PEOPLE SIGNING ON THE DOTTED LINE" to fraudulently bolster the "debt end". This is why the housing market was opened up to NINJA. The banks knew they would ultimately NOT get stuck with the non-payment part, yet they still get to show the loan as an asset for awhile, then it gets wrapped in some other complicated "fund" scheme and sold. Am I wrong? |
Resister User ID: 669410 United States 11/12/2012 12:46 PM Report Abusive Post Report Copyright Violation | Most loans to NINJA customers with horrible credit SHOULD NOT BE GIVEN. They are allowed because it gives the banks a legal excuse to say they have new ASSETS when they know the ASSETS are CRAP! Quoting: Anonymous Coward 203360 The system runs on DEBT, so the banks simply need "PEOPLE SIGNING ON THE DOTTED LINE" to fraudulently bolster the "debt end". This is why the housing market was opened up to NINJA. The banks knew they would ultimately NOT get stuck with the non-payment part, yet they still get to show the loan as an asset for awhile, then it gets wrapped in some other complicated "fund" scheme and sold. Am I wrong? Yes. In the 1970s Jimmy Carter got a little federal housing program started called “The Community Re-investment Act”. It required banks to make loans to people who could not afford them by offering government subsidies to the banks who were willing to make those loans. Very few loans were made because the banks weren’t dumb enough to write bad loans they knew were not going to get paid. Under Bill Clinton’s administration, the Community Re-investment Act was amended to force banks to make the bad loans by fining them greater amounts than the bad loans were worth it they didn’t make the loans. So, banks were forced take the lesser of two losses and write a ton of bad loans. To get out from under the mountain of debt they were piling up they created Credit Default Swaps or CDS. That is when you have a huge pile of bad loans you need to get off your books so bad, you take a loss and sell it to a bigger fish for pennies on the dollar just to get rid of it. The CDSs played leap frog up through the bigger and bigger banks until the last frog got squashed when the leaps couldn’t rise high enough anymore. The crash took out Leman Brothers who was insured by AIG who also had lots of major investors. Etcetera, etcetera, etcetera. It was one gigantic pyramid of dominoes. Back up a bit to spread the blame a little more. Under Reagan, banks were not just deregulated, they were allowed to expand beyond states to grow into national and international size. That one decision meant that the bigger the banks got, the bigger and more wide spread the fall would be. In 2004 (or 2005 I think), the W. Bush administration attempted to act to limit exposure to the bad loans that banks were being forced to make by the federal government, but in typical Republican fashion, they left their balls at the door and got steam rolled by Maxine Waters, Barney Frank, and other top Democrats on the Banking Committee. The usual claims of racism for banks not loaning to poor (read black) neighborhoods stopped the effort dead in its tracks. Republicans as usual were too afraid of being labeled as racist by people who actually are racists. With that and the surging economy in the mid 2000s, the housing market exploded. The debt from the bad loans exploded too until in 2008 it just blew chunks all over the entire money market. This wasn’t just the greedy evil banks, or the Federal Reserve. It was the end result of three decades of government forced socialist re-distribution of wealth. It’s like Margaret Thatcher said, “The trouble with socialism is that eventually, you run out of other people’s money.” Last Edited by Resister on 11/12/2012 12:47 PM "God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787 |
Anonymous Coward User ID: 957572 United States 11/12/2012 01:03 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 1507912 United States 11/12/2012 01:11 PM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 23992770 Don't put too much faith in this. Whilst gold and silver have had a certain stability to them in the past because they are a physical and scarce 'real thing', they won't save any of us from the future. The system is so out of whack, and the issues driving it all are so vast and detached from any conceivably sustainable system that it will still fall apart. You see what most people are not factoring in is that there are hundreds of millions of disenfranchised younger people (by younger I mean forty and younger) right across the western world who really couldn't give a crap about the security of Boomer's investments. When the reality of their future finally dawns on them those people will rip this society limb-from-limb in a violent convulsion of rage and despair. It won't matter if you have gold assets or silver because the entire fabric of the system, and its infrastructure is going to be destroyed. The only questions really left are when will the spark come that ignites the inferno, what alternative ideologies will present themselves and vie for power, and how long will the chaos last? Wow, where did you come from? And do you hang out here very often? I do tend to spend a little time each day lurking around GLP. Its kind of like an addiction that I can't kick (I don't join because Trinity keeps banning my IP). Its fascinating to read the rantings of so many people who are totally deluded, clinging the old 'certainties' yet ignoring the growing tide of anger and disillusionment that is permeating through all western societies. this is truth this is why I sold our house in 2006 and did not purchase another one just think of the fact there are fewer young people than boomers...that those young people will NEVER live as well, earn as much, save money as the boomers did that those young people are 10x deeper in debt just to go to college, have emerged into a world where they are earning less yet paying 500% more for just about everything needed to live than the boomers did How the fuck is this system going to support houses that cost $500-$1MM in most urban areas of the USA? That is just the beginning The fact that this house of cards has not blown over so far has given many who were nervous a new false sense of security...and because of this more and more people - even the cautious - are being sucked into the casino this is always the last phase of a blow off...when even the previous bears capitulate and join the market ...just before the implosion sorry , just the way I see it, and I'm willing to eat all the losses if I'm wrong and a huge bull market is about ot start but frankly, given global demographics, global consumer debt levels, global government debt levels, I think we're about 5 minutes from midnight I hope you bought things to survive with, because you don't have a home somewhere, gas is more than likely going to be gone or so rare that you won't be able to get anywhere. A mule and wagon or a cut down small car will work. |
Anonymous Coward User ID: 26344682 United Kingdom 11/12/2012 01:42 PM Report Abusive Post Report Copyright Violation | Ann Barnhardt. She imparts some scary Religious beliefs. She can't ever have been told how to wear a tie. I bet she's damn scary when she's really mad. She is a zealot. BUT her financial summary is spot on. |
Anonymous Coward User ID: 203360 United States 11/12/2012 04:53 PM Report Abusive Post Report Copyright Violation | Most loans to NINJA customers with horrible credit SHOULD NOT BE GIVEN. They are allowed because it gives the banks a legal excuse to say they have new ASSETS when they know the ASSETS are CRAP! Quoting: Anonymous Coward 203360 The system runs on DEBT, so the banks simply need "PEOPLE SIGNING ON THE DOTTED LINE" to fraudulently bolster the "debt end". This is why the housing market was opened up to NINJA. The banks knew they would ultimately NOT get stuck with the non-payment part, yet they still get to show the loan as an asset for awhile, then it gets wrapped in some other complicated "fund" scheme and sold. Am I wrong? Yes. In the 1970s Jimmy Carter got a little federal housing program started called “The Community Re-investment Act”. It required banks to make loans to people who could not afford them by offering government subsidies to the banks who were willing to make those loans. Very few loans were made because the banks weren’t dumb enough to write bad loans they knew were not going to get paid. Under Bill Clinton’s administration, the Community Re-investment Act was amended to force banks to make the bad loans by fining them greater amounts than the bad loans were worth it they didn’t make the loans. So, banks were forced take the lesser of two losses and write a ton of bad loans. To get out from under the mountain of debt they were piling up they created Credit Default Swaps or CDS. That is when you have a huge pile of bad loans you need to get off your books so bad, you take a loss and sell it to a bigger fish for pennies on the dollar just to get rid of it. The CDSs played leap frog up through the bigger and bigger banks until the last frog got squashed when the leaps couldn’t rise high enough anymore. The crash took out Leman Brothers who was insured by AIG who also had lots of major investors. Etcetera, etcetera, etcetera. It was one gigantic pyramid of dominoes. Back up a bit to spread the blame a little more. Under Reagan, banks were not just deregulated, they were allowed to expand beyond states to grow into national and international size. That one decision meant that the bigger the banks got, the bigger and more wide spread the fall would be. In 2004 (or 2005 I think), the W. Bush administration attempted to act to limit exposure to the bad loans that banks were being forced to make by the federal government, but in typical Republican fashion, they left their balls at the door and got steam rolled by Maxine Waters, Barney Frank, and other top Democrats on the Banking Committee. The usual claims of racism for banks not loaning to poor (read black) neighborhoods stopped the effort dead in its tracks. Republicans as usual were too afraid of being labeled as racist by people who actually are racists. With that and the surging economy in the mid 2000s, the housing market exploded. The debt from the bad loans exploded too until in 2008 it just blew chunks all over the entire money market. This wasn’t just the greedy evil banks, or the Federal Reserve. It was the end result of three decades of government forced socialist re-distribution of wealth. It’s like Margaret Thatcher said, “The trouble with socialism is that eventually, you run out of other people’s money.” Compound interest and fractional reserve banking have the effect of spiralling wealth to the TOP. The banks were in on negotiating the low-income housing purchase scam along with the FEDS. They are tied together at the TOP. |
Saddletramp User ID: 736749 Puerto Rico 11/12/2012 05:47 PM Report Abusive Post Report Copyright Violation | I think Ann frequently brings up some valid points about the markets and investor safety. But this has always been a system based on investor confidence. Confidence they are slowly erroding through blatant money theft (see MF Global). Quoting: Saddletramp The problem really now is that interest rates are so low. Many investors would love to put their money, or a portion thereof, into safter vehicles, but with an essentially negative return after inflation, what's the point? We've never (at least in this prolonged financial cycle) faced such chronically low interest rates for such an extended period of time. Doom for the system as it currently stands is a rise in effective interest rates. Then you will begin to watch this thing unfold like a lawn chair... Rise in interest rates will trigger immediate deflation...the Fed's toolbox is looking pretty damn bare lately... "And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius "Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..." "We don't rent pigs!" |
Anonymous Coward (OP) User ID: 19514200 United States 11/12/2012 09:05 PM Report Abusive Post Report Copyright Violation | Ann Barnhardt. Quoting: Anonymous Coward 26344682 She imparts some scary Religious beliefs. She can't ever have been told how to wear a tie. I bet she's damn scary when she's really mad. She is a zealot. BUT her financial summary is spot on. Yes, she seems to be getting on a real good point, then suddenly whips out bible scripture as fact completely throwing people out of sync. There's no need for it. |