Nobel Prize-winning economist Joe Stiglitz stated how reducing transparency and hiding information was an essential element to the crisis. Stiglitz concluded, “Innovation was regulator and tax arbitrage Wall Street and the banks deliberately added opacity and complexity to confuse clients and consumers. ”
Rats like to operate in the dark. We need to eliminate the international banking system. It is designed to steal from people and nations.
Hey, at least it’s a business environment unfettered by government regulation.
Somehow I doubt this was all “the US” fooling the rest of the world.
If all those international bankers are so dumb why are they so rich?
“Money” = medium of exchange AND store of value.
The “cause” of the current crisis is the gradual abolition of real money between 1913 and 1971, and its replacement by credit.
There will be no end to the crisis until real money is again made available by governments. In the case of the US, only Congress has the power to coin money and regulate its value.
Eventually, a Congress will come to power (one way or another) that will do its job.
C’mon!! What could go wrong, and how bad could it be?
The stage is set for the engineered collapse of the west so it can be reorganized by the socialists into a single economy.
The islamists have the middle east, China has Asia and nobody wants Africa.
These three powers will rule the world....and eventually fight it out for domination.
Why are these people still breathing?
Hummm...Let us see how many seconds of time 500 trillion would take to pay off if a dollar a second were the was the scheduled method of payoff...And then of course there’s the interest.
A trillion seconds of time = 32,000 years X 600 = ? Well you do the math...
I am a derivatives trader. Anybody who speaks ill of them needs to deal with me.
I am also a conservative.
The ‘notional value’ of derivatives is meaningless.
If I bet you $1 that the Dow will go down tomorrow, the notional value of that derivative is billions of dollars, the total price of the trading in the 30 Dow stocks. However, the most I can win or lose on this bet is still $1.
The fed came into the deleverage process too early and I think we will have many more recession more often in the near future until this derivative drop to a reasonable level...