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REPORT Spain now asking for International AID.

 
Tuff~Kooky

User ID: 1557145
United States
11/25/2011 01:06 PM
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Re: REPORT Spain now asking for International AID.
Yikes.
Manu-Koelbren

User ID: 6011049
Spain
11/25/2011 01:08 PM
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Re: REPORT Spain now asking for International AID.
That country used to offer things to the world. What goes around comes around. It is Karma time for Spain. They exploited their colonies, rape the women and killed the men too. They took the gold, food and life of those colonies. They never took advantage of their land and economic gains. Spain will always be a nation without identity. They all claim to be Spanish....but they are Arabs, Jewish and Gipsies claiming to have pure blood.
 Quoting: Anonymous Coward 2990625




Great comment
 Quoting: Magneto-tard


LOL no one is pure, not even those lilly white finnish folks who have Asian admixture, much less the Germanics. Why do people even bring that up anymore?
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
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United States
11/25/2011 01:18 PM
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Re: REPORT Spain now asking for International AID.
France, Spain, Belgium 5-year CDS widen to record

LONDON -- The cost of insuring European sovereign debt against default rose to record highs for France, Spain and Belgium in early trading Friday amid concerns that politicians are still a long way from resolving the euro-zone debt crisis.

Around 0800 GMT, five-year credit default swaps spreads on France, Belgium and Spain all pushed to fresh records, according to data-provider Markit.

France's five-year CDS spread widened two basis points to 250 basis points, while Spain's five-year CDS widened 16 basis points to 495 basis points.

Belgium's CDS widened one basis point to 395 basis points. It has now widened 69 basis points since last Friday.


[link to www.marketwatch.com]
Anonymous Coward
User ID: 2428654
United States
11/25/2011 01:19 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838


If this is the equivalent of an actual shooting war,
then I doubt that the governments will honor these CDS debts.

It would be like surrendering one's country to the enemy without firing a shot.

Why couldn't they just default on the CDS contracts?
During an actual war the government can confiscate anything
it wants to for the war effort, including your life.

These people are only in business for a profit; when the
business turns south, they just take a hike with your
premiums and say "FU". "You can't get blood out of a turnip".
Anonymous Coward
User ID: 1315838
United States
11/25/2011 01:36 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838


If this is the equivalent of an actual shooting war,
then I doubt that the governments will honor these CDS debts.

It would be like surrendering one's country to the enemy without firing a shot.

Why couldn't they just default on the CDS contracts?
During an actual war the government can confiscate anything
it wants to for the war effort, including your life.

These people are only in business for a profit; when the
business turns south, they just take a hike with your
premiums and say "FU". "You can't get blood out of a turnip".
 Quoting: Anonymous Coward 2428654


If this is the equivalent of an actual shooting war,
then I doubt that the governments will honor these CDS debts.


The Gobermints didn't write these contracts, most of them 75% were issued by U.S. Banks like JPMorgan.


It would be like surrendering one's country to the enemy without firing a shot.

You learn quick !


Why couldn't they just default on the CDS contracts?

Because all of these insurance policies are on the "banks" balance sheets as assets. Without these asset entries they are bankrupt.
Anonymous Coward
User ID: 1315838
United States
11/25/2011 02:03 PM
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Re: REPORT Spain now asking for International AID.
Here is a great article regarding CDS and the American Bank exposure. Funny thing is that they keep leveraging (creating and selling CDS) the old "CDS" with "new" CDS ~!
Again I state, that the banks selling these CDS don't even have the money to cover them (If the default occurs)


From the article:

Risk isn’t going to evaporate through these trades,” Cannon said. “The big problem with all these gross exposures is counterparty risk. When the CDS is triggered due to default, will those counterparties be standing? If everybody is buying from each other, who’s ultimately going to pay for the losses?”

[link to www.businessweek.com]
Anonymous Coward
User ID: 6007930
United States
11/25/2011 02:07 PM
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Re: REPORT Spain now asking for International AID.
They must send Mademoiselle Lagarde some roses first.
Anonymous Coward
User ID: 6015635
Canada
11/25/2011 02:55 PM
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Re: REPORT Spain now asking for International AID.
Soooo stupid!!!

This site use to be very good,but............now,well....ummmm.....

I still pass through here and see if the intellect of the subjects have gone back up a touch........guess not.

I'll check back next month to see. For now I will have to trust and support the MSM and President Obama.

President Obama needs our full support right now, kinda of like my eloquent Bush supporters suggested while the USA was being attacked and he was flapping around on
Air Force One OR was he reading a book about a goat. Who knew Bush read books upside down, so I guess he ran the USA the way he read, upside down. LMAO!!!!!

P.S. Oh how I long to read some more intelligent post from
SHR....His commentaries during the GOM were the most in depth reports since they potato peeler was revealed in Idaho. Lets not forget the backyard observatory constructed in Mr.T's backyard,lol, wanting donations to the tune of $25,000 or was it $250,000, LMAO!! What a farce!! Block all the AC's post, you had to pay to play here, well the site's hit rate went down to nearly nill,lol. T had to open the doors again, so much for life without GLP,lol.
Manu-Koelbren

User ID: 6011049
Spain
11/25/2011 02:57 PM
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Re: REPORT Spain now asking for International AID.
Talk about being offtopic rolleyes ^^^^^^^^^^^^
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
User ID: 6015635
Canada
11/25/2011 02:58 PM
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Re: REPORT Spain now asking for International AID.
I bump into Mariah Carey next, gave her a hug and told her that I was always her fan since day one...which is true hf

Then as I head for the stairs, I nervously walked by Obama but he didn't acknowledge me so that was a good thing I guess.

I went downstairs and caught a glimpse of Michael J. Fox as he walked by to go upstairs!

At the bottom of the stairway was a woman who I saw from behind. I didn't know who she was at first but she seemed familiar. She was talking to two other people but her words were slurring and she was swaying, as if she was trying to balance herself. I thought okay she's drunk.

She turns around and I see it's Michelle Bachmann!!

My mouth dropped! I was surprised to see her acting that way. I also heard her tell the people she was talking to that she was going to join the Army or Marines...I couldn't remember which one. Very strange!!

So that was it!

Malia, Mariah, Michael and Michelle...4 M's...blink!

Well Barack Obama stood out as the odd name out but do you see how crazy this dream was lol chuckle?

Anyway, I felt strangely peaceful at this party.

Too much GLP...probably lol ohyeah!

Last Edited by GodisWaiting4U on 11/25/2011 01:32 AM
"For God so loved the world that He gave His only begotten Son, that whoever believes in Him should not perish but have everlasting life. ~ John 3:16

"These things I have spoken to you, that in Me you may have peace. In the world you will have tribulation; but be of good cheer, I have overcome the world." ~ John 16:33

Trust in the LORD with all your heart, And lean not on your own understanding; In all your ways acknowledge Him, And He shall direct your paths. ~ Proverbs 3:5-6

Got questions about God? Religion? Hell? End Times? [link to www.gotquestions.org]

Life is not a matter of holding good cards, but sometimes, playing a poor hand we
Anonymous Coward
User ID: 1315838
United States
11/25/2011 03:02 PM
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Re: REPORT Spain now asking for International AID.
Soooo stupid!!!

This site use to be very good,but............now,well....ummmm.....

I still pass through here and see if the intellect of the subjects have gone back up a touch........guess not.

I'll check back next month to see. For now I will have to trust and support the MSM and President Obama.

President Obama needs our full support right now, kinda of like my eloquent Bush supporters suggested while the USA was being attacked and he was flapping around on
Air Force One OR was he reading a book about a goat. Who knew Bush read books upside down, so I guess he ran the USA the way he read, upside down. LMAO!!!!!

P.S. Oh how I long to read some more intelligent post from
SHR....His commentaries during the GOM were the most in depth reports since they potato peeler was revealed in Idaho. Lets not forget the backyard observatory constructed in Mr.T's backyard,lol, wanting donations to the tune of $25,000 or was it $250,000, LMAO!! What a farce!! Block all the AC's post, you had to pay to play here, well the site's hit rate went down to nearly nill,lol. T had to open the doors again, so much for life without GLP,lol.
 Quoting: Anonymous Coward 6015635


You Come here and complain about the content and you "ADD" "ABSOLUTELY" "NOTHING" to the discussion.
Talk about "intellect" laugh

You have none !
Anonymous Coward
User ID: 1315838
United States
11/25/2011 03:04 PM
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Re: REPORT Spain now asking for International AID.
I bump into Mariah Carey next, gave her a hug and told her that I was always her fan since day one...which is true hf

Then as I head for the stairs, I nervously walked by Obama but he didn't acknowledge me so that was a good thing I guess.

I went downstairs and caught a glimpse of Michael J. Fox as he walked by to go upstairs!

At the bottom of the stairway was a woman who I saw from behind. I didn't know who she was at first but she seemed familiar. She was talking to two other people but her words were slurring and she was swaying, as if she was trying to balance herself. I thought okay she's drunk.

She turns around and I see it's Michelle Bachmann!!

My mouth dropped! I was surprised to see her acting that way. I also heard her tell the people she was talking to that she was going to join the Army or Marines...I couldn't remember which one. Very strange!!

So that was it!

Malia, Mariah, Michael and Michelle...4 M's...blink!

Well Barack Obama stood out as the odd name out but do you see how crazy this dream was lol chuckle?

Anyway, I felt strangely peaceful at this party.

Too much GLP...probably lol ohyeah!

Last Edited by GodisWaiting4U on 11/25/2011 01:32 AM
"For God so loved the world that He gave His only begotten Son, that whoever believes in Him should not perish but have everlasting life. ~ John 3:16

"These things I have spoken to you, that in Me you may have peace. In the world you will have tribulation; but be of good cheer, I have overcome the world." ~ John 16:33

Trust in the LORD with all your heart, And lean not on your own understanding; In all your ways acknowledge Him, And He shall direct your paths. ~ Proverbs 3:5-6

Got questions about God? Religion? Hell? End Times? [link to www.gotquestions.org]

Life is not a matter of holding good cards, but sometimes, playing a poor hand we
 Quoting: Anonymous Coward 6015635


See what I mean........................Useless !
Anonymous Coward
User ID: 5906894
United States
11/25/2011 03:07 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838



sweet info man I think i sorta understand now what a credit default swap is. Since some institutions want people to fail on their loans so that that institution gets paid, could that be the reason student loan defaults may bring the system down. We can't bail out every student but has money bet against said student paying back the loan?
ScottFlex

User ID: 5764516
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11/25/2011 03:07 PM
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Re: REPORT Spain now asking for International AID.
dynamite ahhh
"We must all hang together or surely we will all hang separately."

-Benjamin Franklin

"Anything you can't say no to is your master, whether its a common addiction or an abusive government..."

-ScottFlex
Anonymous Coward
User ID: 1315838
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11/25/2011 03:20 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838



sweet info man I think i sorta understand now what a credit default swap is. Since some institutions want people to fail on their loans so that that institution gets paid, could that be the reason student loan defaults may bring the system down. We can't bail out every student but has money bet against said student paying back the loan?
 Quoting: Anonymous Coward 5906894


HERE is a great video explaining the Mess !

Watch it !

[link to studentloanbubble.com]
Anonymous Coward
User ID: 1293349
United States
11/25/2011 03:20 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838


this is a great post, good explanation, but you need to LOSE THE DAMN QUOTATION MARKS. They're distracting and detract from your essay.
Anonymous Coward
User ID: 1315838
United States
11/25/2011 03:46 PM
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Re: REPORT Spain now asking for International AID.
Everyone must understand that the EU will have to print money to service the debt load.................Why ? because of the CDS written under that debt. They are in a catch 22 with no way to solve this mess. There can only be 2 outcomes.

1) Hyperinflation due to deflation.

2) The whole system crashes and a depression takes over the world.

There are "NO" other choices It's one or the other and here is why.

The CDS "NIGHTMARE"

I wrote this description of the worlds biggest financial problem so people could understand "in laymens terms" why we are fucked ! I use the dollar in the description of Credit Default swaps for a basis as they could be denominated in any currency.

Understand that the dollar is the defacto “Reserve currency – Petrodollar” that the world uses to transact business. As that dollar becomes more encumbered with "leverage" it's ability to be a store of value has less conviction and faith. The "only" value that a fiat paper currency can retain "is" that conviction and faith.

So, let's look at the reason all faith will be lost in that currency at some point in the future. Since the creation of the FED in 1913 the currency (Dollar) value has been controlled through inflation/deflation. In 1944 the U.S. Dollar through the Brenton Woods agreement was granted “exclusive reserve currency status”.(that status meant that any country wanting to buy oil, food or commodities would have to buy dollars “first” and then they could go into the world market to make their purchase “on” the world market (with those reserve currency notes) also it meant that "If" any country lost faith or trust (through debasement or any other reason) in that currency they could go to "any" central bank in the world and trade that paper currency for physical Gold of equal value.
(Good as Gold) In 1971 Nixon suspended Brenton Woods and took us off the Gold Standard(because France wanted a couple of billion in Gold)telling other nations that they could not "now" exchange the dollar for Gold as previously promised.

Here is the key to it's downfall:

The U.S. dollar (debt) from 1971 through around 1995 was able to be removed from a balance sheet with little implication through accounting techniques claiming (debt) as a loss and could be written off taxes/balancesheets and that was the end of it.

Here (around 1995) comes Blythe Masters from JP morgan and she creates what is called a "Credit Default Swap" This is essentially an insurance policy on a default to pay back a debt or loan. So, lets say for shins and giggles Greece is lent 1 trillion dollars by another country. They promise to pay that money back at a set interest rate over time. The CDS (Credit Default Swap) enables financial institutions to purchase a put (Default insurance or a bet against the underlying asset (loaned debt) never being paid back). This would be OK if only "ONE PUT" was taken out against the chance of that debt not being paid back. The problem "of the whole planet situation right now" is that this debt can be "leveraged" by 100 "PUTS" or in laymens terms (for each dollar that was lent to Greece there are $100 betting against "each" one of the dollars lent, that it will default and not be paid back) So, now you have 100 Trillion Dollars leveraged against the default of a 1 Trillion dollar loan. So, now Greece cannot payback the loan (debt) triggering the CDS and now everyone that bought a "PUT" want's to get paid on their bet. The next problem is that those financial institutions that sold those "PUTS" are only required to have a 6% reserve (Money held in escrow to pay claims) So, in reality those institutions only have .06 cents per dollar to pay those claims and not the “whole” dollar "required or needed" to pay those claims.

This is why all of these bailouts are created so "NO ONE" is allowed to fail "Triggering" these Credit Default Swaps. The original debt is maintained through interest payments from "newly created" debt (bailouts) because the money to pay those (Claims) does not exist.........Yet.
So, you say why can't they just unwind them.
Answer, is that you can't because everyone that purchased these "PUTS" – “CDS’s” wants’ to get paid because they are classified as an asset on "their" balance sheets.

There are 1.5 Quadrillion of "known" CDS's that have been sold. The un-known amount is still a secret. That’s 1,500 Trillion……………

Here is the CDS problem in basic-basic: Using a house as an example and this is conversation to understand the problems that we are facing.
(we will nickname you joe sixpack GK)
GK wants to buy a 100K house, so GK goes to Joe banker and says hey Joe can you lend me a 100K to buy this house. Joe says sure GK here is your 100K you can pay me back over time with interest.
Then Joe gets back from the closing and says to himself, Hey "what if GK doesn't pay me back, I will be out a 100K. So, Joe calls Allstate and talks to Al the broker and says, "Hey Al I want to buy a 100K insurance policy incase GK doesn't pay me back. Al says sure Joe here is your 100K default insurance policy (CDS). Then after Al gets off the phone with Joe, Al says to himself "wait a minute" "what if Joe doesn't pay me back" and Al quickly calls jerry at AIG and says hey jerry I need an insurance policy for 100K incase Joe doesn't pay me back. Jerry says sure Al here is you CDS for 100K incase Joe the banker doesn't pay you. Then Jerry gets off the phone with Al and says "wait a minute" "What if Al doesn't pay me back and then he quickly calls Zurich and talks to Chad and says "hey Chad" "I need to purchase a 100K policy against Al not paying incase GK defaults on his mortgage. Chad says here you go Jerry a 100K CDS for you and then Chad says to himself "hey wait a minute..............................you see where this is going.

So, let’s say this goes 20 CDS contracts deep. So what we have is 2,000,000 dollars worth of credit default swaps written on a 100K depreciating asset that is now only worth 60K. Now the leverage went from 20 to 33 because of the deflation in the housing prices. (That’s why there is no mark-to-market)Now GK's employer just called and is laying GK off "permanently".

The problem is now that the financial institutions that wrote all these CDS's (a ton of American banks) were only required to have a 6% reserve on this 100K worth of exposure (each). So, you see the money does not even exist-yet (our anti deflationary kryptonite backstop and tribute to JS for the saying "QE to infinity") to pay these claims and all these entities must be bailed out to stop the contagion before wiping out everybody.
I used a house as an example and it actually "is" a "physical" asset. Most of the CDS's are written against debt (paper, but classified as an asset on balance sheets with "no" underlying physical nothing) Here is where the problems lay. It's the reserve of 6% that is the problem. Let’s take our old friend JPM that has a leveraged balance sheet of 44 to 1. If they are in the wrong chain position on the CDS loop and let's say that they have to pay out 5x of that leverage but only receive 2x of the leverage back. ???????????????????
Where does the money come from to pay that net 3x's exposure? (it does not exist...yet, remember the 44 to 1 leverage) hence the bailouts to keep this thing from going full balls out.
There it is, and it's called "Contagion"
 Quoting: Anonymous Coward 1315838



sweet info man I think i sorta understand now what a credit default swap is. Since some institutions want people to fail on their loans so that that institution gets paid, could that be the reason student loan defaults may bring the system down. We can't bail out every student but has money bet against said student paying back the loan?
 Quoting: Anonymous Coward 5906894


HERE is a great video explaining the Mess !

Watch it !

[link to studentloanbubble.com]
 Quoting: Anonymous Coward 1315838


Duly noted !

Thanks
Eagle # 1
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11/25/2011 04:25 PM
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Re: REPORT Spain now asking for International AID.
We ARE indeed living on 'Borrowed Time'; in a dream world where ONLY the Banksters, Parasitic Politicians and Lawyers HELP to write these 'laws' that ONLY benefit those involved in their making. They live HIGH, WIDE and Hansom on promises, LIES and the zero intellectual ability of the their SUBJECTED populations to know just who or what SCREWS them !

BUT, as partners in CRIME, they also not only RIG the BOOKS', but turn the payment of these 'debts' THEY create and STICK their unintelligent slaves with the payments, PLUS INTEREST (USURY ) for those holding/printing the worthless FIAT and contracts !

Do you have any friends in J.P. Moran or Goldman Sucks ? Be sure you BOW to these masters of thievery EVERY time you pass these FAT, GREED, BLOOD SUCKERS !

Eagle
Anonymous Coward
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11/25/2011 04:41 PM
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Re: REPORT Spain now asking for International AID.
bump
Anonymous Coward
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11/25/2011 05:03 PM
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Re: REPORT Spain now asking for International AID.
Op 'busy' starting more threads to abandon ?

Drop dead at the computer ?

IN the 'head' ?

Fall asleep ?

One acknowledges others who post to your thread, especially if they OBVIOUSLY spent time , energy AND basically agree with you !

At least that is what I have noted over the last TWELVE YEARS here !
Anonymous Coward
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11/25/2011 05:09 PM
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Re: REPORT Spain now asking for International AID.
That country used to offer things to the world. What goes around comes around. It is Karma time for Spain. They exploited their colonies, rape the women and killed the men too. They took the gold, food and life of those colonies. They never took advantage of their land and economic gains. Spain will always be a nation without identity. They all claim to be Spanish....but they are Arabs, Jewish and Gipsies claiming to have pure blood.
 Quoting: Anonymous Coward 2990625




Great comment
 Quoting: Magneto-tard


Great comment? Lol! The historic inaccuracy of that comment makes me want to puke all over it!
Anonymous Coward
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11/25/2011 05:18 PM
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OP must be puking on some other thread, LOL !
Anonymous Coward
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11/25/2011 05:19 PM
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Re: REPORT Spain now asking for International AID.
Check this out


This comes just after the center-right People's Party won control of the government earlier this week and on the tail of an announcement that the IMF would launch a big new credit line program allowing countries with good finance to access as much as 1000% of their IMF quota in temporary funding.


[link to www.businessinsider.com]
 Quoting: Magneto-tard


This comes just after the center-right People's Party won control of the government earlier this week and on the tail of an announcement that the IMF would launch a big new credit line program allowing countries with good finance to access as much as 1000% of their IMF quota in temporary funding.

Read more: [link to www.businessinsider.com]

that's to make sure those new politicians that made the enormous effort to sacrifice their lives for the good of the people get their salaries paid without a problem so that they don't have the stress of not getting their deposits made while working for the people that elected them....

oridin
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11/25/2011 05:28 PM
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Anonymous Coward
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11/25/2011 05:29 PM
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bump
Anonymous Coward
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11/25/2011 05:37 PM
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Re: REPORT Spain now asking for International AID.
is op talking to himself ? hmmmm
Anonymous Coward
User ID: 5743059
United States
11/25/2011 08:25 PM
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Re: REPORT Spain now asking for International AID.
JUST where IS Mag TARD ???

EVER 'Finish' a thread, or just start them ???
Anonymous Coward
User ID: 5743059
United States
11/25/2011 08:26 PM
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Re: REPORT Spain now asking for International AID.
iamwithbump
Anonymous Coward
User ID: 1231931
United Kingdom
11/27/2011 05:04 AM
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Re: REPORT Spain now asking for International AID.
They must send Mademoiselle Lagarde some roses first.
 Quoting: Anonymous Coward 6007930


Ringaringa roses a pocket full of posies
Atishu Atishu
We all fall down.

Modern day plague. All of them infecting each other. All of them hedging against each other.
Magneto-tard (OP)

User ID: 1040464
United Kingdom
11/27/2011 05:19 AM
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Re: REPORT Spain now asking for International AID.
Op 'busy' starting more threads to abandon ?

Drop dead at the computer ?

IN the 'head' ?

Fall asleep ?

One acknowledges others who post to your thread, especially if they OBVIOUSLY spent time , energy AND basically agree with you !

At least that is what I have noted over the last TWELVE YEARS here !
 Quoting: Anonymous Coward 5743059


Actually no I had to rush to hospital as my father had been in a serious car accident.

Sorry but family matters were more important than a few tards on the internet.


Is that okay with you?

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