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"NO BID" threat looming. When the computers stop trading...any tradable funds may drop to zero!
Ms Sans Serif
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[quote:Anonymous Coward 247684:MV8yMDQ4NTczXzM0NDI0NzY3X0ZEN0ExRDY4] [quote:Marxist:MV8yMDQ4NTczXzM0NDIzOTg2XzgzQjcxNUMz] [quote:--Voltaic--:MV8yMDQ4NTczXzM0NDIzMzk5Xzc4NEJDQzU=] Passing debt along to the little guy.........it will not stop until A) The People stop it by force B) Civilization crumbles from economical implosion. [/quote] Capitalism revolves around debt. All the manufacturing and services and other forms of value adding require vast amounts of debt to cater for the sheer volume of exchange. Without debt, capitalism would grind to a halt and growth would end. Banks simply facilitate this process and the markets are their venue of value amplification, similar to a shopkeepers retail premium on wholesale. The fact that it is all appearing shaky has less to do with it being the actions of bad people but rather the fact that the sheer momentum of these activities are reaching such a pitch that they threaten to overwhelm the system. But to suggest that debt can somehow be made more acceptable is to vastly misunderstand the nature of the system we live within. I personally see no point in getting into a froth about things. The system will eventually exhaust itself...not whilst countries such as India and China are entering the system however and not in our lifetimes. [/quote] YES, DEBT is feeding the system. AND NOW they are running short of NEW DEBT also! They have to make MORE NEW DEBT than last year. Ann B. talks about that also. To replace the lack of NEW DEBT they are doing REPO and REVERSE REPO which is destructive! [/quote]
The Greece emergency domino effect could be just around the corner...
According to rumors from the "pit", computer analogs are now trading the vast majority of the action we see. In the event of a "meltdown", the computer action would get shut off and you may very well have a case of "no bid" on any tradeable entity including most "funds" of folks savings entities.
What this means is that since banks are SO LEVERAGED RIGHT NOW (they are way past bankrupt), the value you see on your account is actually FICTITIOUS and could be wiped to "0" in an instant. This can happen when there is "no live body" in the trading pit to give a bid to buy your funds and this means "no bid" which drops that stock to "0" value, which is much closer to the true value anyway.
This kind of thing happending en masse is a very real possibility and would give financial institutions a "way out" of and "unsecured" funds, in other words they would love to NOT HAVE TO PAY on these funds and do it legally. This is how you can be legally dropped to zero overnight.
You thought getting whacked HALF in 2008/2009 was bad?... The only modest protection you have is "cash in hand" and anything you could guarantee as a "secure entity" (not many of these exist now). The buying power of cash would also be greatly diminished in such an emergency, but something is better than nothing.
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