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| 01:01 AM | ||
| Users Online Now: 1,606 (Who's On?) | Visitors Today: 86,351 | |
| Pageviews Today: 118,640 | Threads Today: 37 | Posts Today: 514 |
| 01:01 AM | ||
The Grand Finale Pt. III: Janet Does Davos (latest update p. 195) | |
Saddletramp (OP) User ID: 68373023  United States06/29/2015 06:00 PM Report Abusive Post Report Copyright Violation | Thread: US Stocks Lower Amid Greece... DOW Falls -350.33 "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!" |
| ReefRaider User ID: 69164281 United States06/29/2015 06:01 PM  Report Abusive Post Report Copyright Violation | Thread: WORLD MARKETS SINKING! ABANDON SHIP!! Quoting: Saddletramp Be aware, while the Markets will take a hit from the Greece debacle no doubt, I don't believe they are going to skid into oblivion right at this instant. It's going to be a tough week, but we may see a rebound by later in the week and into next week. The Derivatives associated with Greek Debt are the real danger here, and those are going to take weeks or months to unwind, so while the "Collapse" may happen fast (as in overnight), I don't think it's happening right now, this is just a step down like I discussed in the OP, and they will likely stabilize these markets at least one more time before the banks begin to realize how bad their derivative situation is... Saddle, please tell me you don't believe the banks don't know how bad their positions are?! You know the work I was involved in for the Gov't; over my dead body these bankers don't know how bad it is! Since 2009 they have willfully and deliberately circumvented all regulatory, GAAP and SOX specifications in an effort to hide loses and carry debts as assets on balance sheets and continue in the casino that is wall street! If the American people knew JUST HOW BAD IT IS, they would literally be building scaffolding in the streets to hang these bastards - perhaps this is why there is such a long DEAD BANKERS LIST! [end rant]  Oh no I didn't mean it that way, the banks know how bad their positions are, but they don't necessarily know how bad their rivals positions are...not to an exact certainty (though they have an idea). The books on these positions are tightly restricted, in fact the ECB just refused to give Bloomberg Goldman's positions in Greek Derivatives saying it would "Inflame the Markets"... The banks know, but we don't know, and they're not going to let us know how bad off they really are until the last minute... PHEW…had to ask. It's lots and lots of zeros! As always - you my fav!  Last Edited by ReefRaider on 06/29/2015 06:02 PM Life's a Beach, then you Dive! |
| Anonymous Coward User ID: 69637296 United States06/29/2015 06:05 PM Report Abusive Post Report Copyright Violation | I would really like to see a CDS default in order to clear out the malinvestment that has taken place for so many years. The problem is that the same entity that writes the CDS is the same entity that determines whether or not a default has taken place. Given that, why would they ever let a default take place? Quoting: AC 67255080 We're fixin' to find out how legitimate the whole damn derivative market is pretty soon I think, and if they won't pay, the courts may well make them pay... IMF is saying it's just a "missed payment". Who says whether or not it's a default? What if Goldman etc says they just won't pay out on the derivatives? Oh and if Goldman just says "We won't pay" they can be forced into Bankruptcy by a Federal Court and Federal Regulators... Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? |
| Saddletramp (OP) User ID: 68373023 United States06/29/2015 06:12 PM Report Abusive Post Report Copyright Violation | Thread: CNBC shaking uncontrollably talking about inabailty of Peurto Rico to pay debt ! "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 User ID: 69639688  Portugal06/29/2015 06:14 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 68373023 United States06/29/2015 06:15 PM Report Abusive Post Report Copyright Violation | ... Quoting: Saddletramp We're fixin' to find out how legitimate the whole damn derivative market is pretty soon I think, and if they won't pay, the courts may well make them pay... IMF is saying it's just a "missed payment". Who says whether or not it's a default? What if Goldman etc says they just won't pay out on the derivatives? Oh and if Goldman just says "We won't pay" they can be forced into Bankruptcy by a Federal Court and Federal Regulators... Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? No, if they "Can't Pay" then we the American taxpayers will end up paying... If they just "refused to pay" then they would create the biggest legal mess in history and destroy all confidence in the derivative markets, basically destroying a hefty portion of their own income and asset base in the process... Thread: New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses *SCUMBAGS Last Edited by Saddletramp on 06/29/2015 06:17 PM "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 User ID: 69637296 United States06/29/2015 06:30 PM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 69637296 IMF is saying it's just a "missed payment". Who says whether or not it's a default? What if Goldman etc says they just won't pay out on the derivatives? Oh and if Goldman just says "We won't pay" they can be forced into Bankruptcy by a Federal Court and Federal Regulators... Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? No, if they "Can't Pay" then we the American taxpayers will end up paying... If they just "refused to pay" then they would create the biggest legal mess in history and destroy all confidence in the derivative markets, basically destroying a hefty portion of their own income and asset base in the process... Thread: New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses *SCUMBAGS If that happens - since confidence is the only thing keeping this "system" going (according to armstrong), the world would experience total systemic meltdown - is that correct? |
| ReefRaider User ID: 69164281 United States06/29/2015 06:54 PM Report Abusive Post Report Copyright Violation | ... Quoting: Saddletramp Oh and if Goldman just says "We won't pay" they can be forced into Bankruptcy by a Federal Court and Federal Regulators... Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? No, if they "Can't Pay" then we the American taxpayers will end up paying... If they just "refused to pay" then they would create the biggest legal mess in history and destroy all confidence in the derivative markets, basically destroying a hefty portion of their own income and asset base in the process... Thread: New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses *SCUMBAGS If that happens - since confidence is the only thing keeping this "system" going (according to armstrong), the world would experience total systemic meltdown - is that correct? I think we are seeing this NOW, panic is spreading and the citizenry is fed up! Peurto Rico, Mexico ... What the hell is next, the FedReserve bank!  Life's a Beach, then you Dive! |
| Saddletramp (OP) User ID: 68373023 United States06/29/2015 06:55 PM Report Abusive Post Report Copyright Violation | ... Quoting: Saddletramp Oh and if Goldman just says "We won't pay" they can be forced into Bankruptcy by a Federal Court and Federal Regulators... Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? No, if they "Can't Pay" then we the American taxpayers will end up paying... If they just "refused to pay" then they would create the biggest legal mess in history and destroy all confidence in the derivative markets, basically destroying a hefty portion of their own income and asset base in the process... Thread: New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses *SCUMBAGS If that happens - since confidence is the only thing keeping this "system" going (according to armstrong), the world would experience total systemic meltdown - is that correct? Ayup... "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!" |
| ReefRaider User ID: 69164281 United States06/29/2015 06:58 PM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 68373023 United States06/29/2015 06:58 PM Report Abusive Post Report Copyright Violation | And here Jack Lew was lecturing the ECB and the IMF just this morning about how they should bail out Greece...again. Last Edited by Saddletramp on 06/29/2015 08:26 PM "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!" |
| Saddletramp (OP) User ID: 68373023 United States06/29/2015 07:01 PM Report Abusive Post Report Copyright Violation | " The fact that the Basel-based institution has repeated its message in stark terms underlines how fears about the effects of cheap money have increased. Quoting: TeamReaper "There is something deeply troubling when the unthinkable threatens to become routine," the BIS said in its annual report, published on Sunday... rates have remained so low for so long is symptomatic of a broader malaise facing the global economy: a recovery which the BIS believes is unbalanced... central banks provided ample liquidity to lenders in the early stages of the financial crisis, there are signs that capital markets —the fixed-income market, in particular—are in danger of drying up... "The yield curve is very flat and, while there aren't many signs of big increases in leverage, there have been warnings that these patches of illiquidity are affecting businesses who cannot easily access cash from central banks," said Hyun Song Shin, head of research at the BIS. The Basel based bank also found that the credit boom which led to the financial crisis had a long-lasting impact on productivity growth. "Financial booms create a shift in the factors of production over and above what could be expected from the viewpoint of productivity. There's a clear misallocation of labour," said Claudio Borio, the head of the BIS's monetary and economic department... The solution, the BIS said in its report, is for governments to take the reins from central banks and play a much more active role in rebalancing their economies. Key to that goal are deeper structural reforms which, while often politically unpopular, can help boost growth in the longer term. The reform prescription will differ from country to country. But economists in Basel said it was crucial not only to ensure labour and product markets were more flexible but also to modernise judicial systems." [link to www.cnbc.com] HOLY SHIT!!!!!!! it is coming now, hope you all understand when they say "modernize judicial systems" what that really means!!!!  Thread: BIS: World is defenceless against the next financial crisis "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 User ID: 69639688 Portugal06/30/2015 09:59 AM Report Abusive Post Report Copyright Violation | |
| ReefRaider User ID: 61920129 United States06/30/2015 10:34 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 69639688 Portugal06/30/2015 11:15 AM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 68373023 United States06/30/2015 11:43 AM Report Abusive Post Report Copyright Violation | dpa International ✔@dpa_intl Quoting: Luisport BREAKING: Merkel says Germany refuses to consider a third bailout package proposed by Athens before Sunday's referendum in Greece.     It's looking like Greece defaults today and nothing else is done until the Referendum this weekend... If the Greeks vote No on the Referendum then I expect the IMF and ECB will call in their derivative contracts covering their bonds... If the Greeks vote Yes on the Referendum then I expect the IMF and ECB will let things slide and all the parties will end up back at the negotiating table... Last Edited by Saddletramp on 06/30/2015 11:44 AM "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 User ID: 69639688 Portugal06/30/2015 11:53 AM Report Abusive Post Report Copyright Violation | |
| Saddletramp (OP) User ID: 68373023 United States06/30/2015 07:09 PM Report Abusive Post Report Copyright Violation | HERE IS WHAT YOU NEED TO KNOW ABOUT THE TRIGGERS FOR A CALL ON THE CDS AND CDO CONTRACTS ASSOCIATED WITH GREEK DEBT Quoting: Saddletramp The country of Greece has Defaulted on a loan payment to the International Monetary Fund. Quoting: ShockJock This is the first time in history that a sovereign nation has defaulted on a payment to the IMF. The IMF loans were, however, "Bilateral Agreements" and NOT "External Bonds." This is a major factor because only if Greece misses payment on an "External Bond" will that trigger the "Cross-Default" provisions of all its other loans, and trigger claims against Credit Default Swaps (CDS). Two weeks from today, on July 14, Greece has a payment due on certain "External Bonds." With the banks in Greece almost totally wiped out, and no cash coming into the government, there may not be enough liquidity for Greece to make that July 14 Bond Payment. If they miss the July 14 Payment, then THAT would trigger the Cross-Default provisions in all of Greece' other loans and THAT would trigger the Credit Default Swaps; wiping out countless banks around the world. Actually it turns out Bloomberg was partially wrong about the CDO's and CDS's trigger. The IMF Loan, since it was part of Greece's bailout program, can trigger a call on the ENTIRE DEBT!!! So, if the Referendum fails this weekend, the EFSF (At Their Discretion) Could trigger a call on ALL GREEK BONDS because Greece has violated the terms of the Bail Out Program Agreement by missing the payment on the IMF Loan!!! Which in turn would trigger the CDO and CDS Derivative Contracts!!! Which would melt down the Derivative Market and probably take a TBTF Bank or two with it... Last Edited by Saddletramp on 06/30/2015 07:20 PM "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!" |
| Saddletramp (OP) User ID: 68373023 United States06/30/2015 07:10 PM Report Abusive Post Report Copyright Violation | [link to www.godlikeproductions.com] "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!" |
| Saddletramp (OP) User ID: 68373023 United States07/01/2015 11:38 AM Report Abusive Post Report Copyright Violation | Thread: WORLD MARKETS SINKING! ABANDON SHIP!! Quoting: Saddletramp Be aware, while the Markets will take a hit from the Greece debacle no doubt, I don't believe they are going to skid into oblivion right at this instant. It's going to be a tough week, but we may see a rebound by later in the week and into next week. The Derivatives associated with Greek Debt are the real danger here, and those are going to take weeks or months to unwind, so while the "Collapse" may happen fast (as in overnight), I don't think it's happening right now, this is just a step down like I discussed in the OP, and they will likely stabilize these markets at least one more time before the banks begin to realize how bad their derivative situation is...  "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!" |
| Saddletramp (OP) User ID: 68373023 United States07/01/2015 12:44 PM Report Abusive Post Report Copyright Violation | Thread: THE 75 TRILLION DOLLAR SHADOW BANKING SYSTEM IS IN DANGER OF COLLAPSING "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!" |
| Saddletramp (OP) User ID: 68373023 United States07/01/2015 07:05 PM Report Abusive Post Report Copyright Violation | Thread: ILLINOIS' GOVERNMENT SHUTDOWN IMMINENT BANKS NOW REPORTING SUSPICOUS ACTIVITY "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!" |
| ReefRaider User ID: 69164281 United States07/01/2015 08:24 PM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 60160628 United States07/02/2015 09:03 AM Report Abusive Post Report Copyright Violation | I live in Chicago and things have not been well... However, not much in the MSM, other than Gov. Rauner not passing the state budget and this latest from our beloved mayor: Emanuel Announces 1,400 CPS Layoffs, Details $200M in Cuts "Updated at 7:41 PM CDT on Wednesday, Jul 1, 2015 Mayor Rahm Emanuel confirmed Wednesday that approximately 1,400 jobs in Chicago Public Schools will be cut after the district had to borrow money to make a $634 million pension payment." [link to www.nbcchicago.com] |
| c4g3 User ID: 65242965 United States07/02/2015 09:47 AM Report Abusive Post Report Copyright Violation | ... Quoting: Anonymous Coward 69637296 Thanks for answering my questions. Hope you don't mind another. Being that Goldman controls our gov't and is considered TBTF - who would have the guts to "force them" to pay? All they would probably end up paying is "small penalty" - if anything? No, if they "Can't Pay" then we the American taxpayers will end up paying... If they just "refused to pay" then they would create the biggest legal mess in history and destroy all confidence in the derivative markets, basically destroying a hefty portion of their own income and asset base in the process... Thread: New Law Would Make Taxpayers Potentially Liable For TRILLIONS In Derivatives Losses *SCUMBAGS If that happens - since confidence is the only thing keeping this "system" going (according to armstrong), the world would experience total systemic meltdown - is that correct? I think we are seeing this NOW, panic is spreading and the citizenry is fed up! Peurto Rico, Mexico ... What the hell is next, the FedReserve bank! I truly hope that I live to see the day when the fed is destroyed and sent packing. The Central bank is the most dangerous entity that mankind has ever created. - It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men. - The liberties of our country, the freedom of our civil constitution, are worth defending against all hazards: And it is our duty to defend them against all attacks. - Samuel Adams - "When injustice becomes law resistance becomes duty." - Thomas Jefferson - |
| c4g3 User ID: 65242965 United States07/02/2015 09:49 AM Report Abusive Post Report Copyright Violation | I live in Chicago and things have not been well... However, not much in the MSM, other than Gov. Rauner not passing the state budget and this latest from our beloved mayor: Emanuel Announces 1,400 CPS Layoffs, Details $200M in Cuts "Updated at 7:41 PM CDT on Wednesday, Jul 1, 2015 Mayor Rahm Emanuel confirmed Wednesday that approximately 1,400 jobs in Chicago Public Schools will be cut after the district had to borrow money to make a $634 million pension payment." [link to www.nbcchicago.com] The state of Illinois is truly fucked, and deservedly so. The whole group of socialist DEMs need to be run out of town. Then we can work on the other side of the house and run em all out of town as well. - It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men. - The liberties of our country, the freedom of our civil constitution, are worth defending against all hazards: And it is our duty to defend them against all attacks. - Samuel Adams - "When injustice becomes law resistance becomes duty." - Thomas Jefferson - |
| Anonymous Coward User ID: 69652497 Portugal07/02/2015 09:58 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 60160628 United States07/02/2015 10:02 AM Report Abusive Post Report Copyright Violation | I would somewhat disagree with you. The Fed, as originally chartered, was a well designed regional correcting mechanism. It was supposed to raise and lower rates by region to manage capital flow and lower the risk of recession. However, once The Fed was hijacked by our beloved congress - that's all she wrote, as they say... Fed became the funding arm for .gov spending. So, the Fed has no real power other than abide by it's masters wishes. That's how I understand it. |
| Anonymous Coward User ID: 69652497 Portugal07/02/2015 10:03 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 60160628 United States07/02/2015 10:10 AM Report Abusive Post Report Copyright Violation | ... Quoting: c4g3 The state of Illinois is truly fucked, and deservedly so. The whole group of socialist DEMs need to be run out of town. Then we can work on the other side of the house and run em all out of town as well. Yes, the DEMOCRATIC HYDRA has been in charge of Chicago/IL state .gov for a long time. There is no realistic chance in hell to "run them out of town" as you say... It will be a long and painful process to make Illinois and Chicago healthy again and I do not believe I will see that come true in my lifetime - barring some cataclysm or "false flag" event involving Chicago. At that time all bets would be off as the entire A/A South West side of the city will go "zombie" in search of food and water. |
