For the dollar, a 'crisis' is relative. With no alternative, a USD collapse is unlikely

Los Angeles Times ^ | 04/23/2011 | Tom Petruno

[driftdiver]

They let you have internet access in prison?

[LomanBill]

More “well-secured” than your hypothetically well-regulated (but unenforced) financial systems?

{crickets crickets crickets}

LOL.

[driftdiver]

dont drop your soap, but then you probably already found that out.

[LomanBill]

So, willing to stipulate into the record that significant players in the mortgage bidness were unregulated yet?

{ crickets crickets crickets }

LOL.

 

 

[driftdiver]

Many developers THINK they know everything when in reality they only know how to cut-n-paste.

[Ghost of Philip Marlowe]

Yes, but keep in mind that those who purchase our ‘stuff’ have the money to do so for two reasons: the companies that offshore to those countries enrich enough of the country/citizenry to be able to afford our stuff; and, two, our inflationary monetary policy (borrow/print and spend) floods lots of nations with dollars to spend on our stuff. Also, the nations that are “emerging” and buying our stuff are also in huge economic bubbles caused by their own borrow/print and spend policies.

As you said, when the dollar collapses, these two means of spending go away and with it goes a large customer base for what we do produce.

I think we could have fixed this 15 years or so if we were all on the same page. But everyone played “kick the can,” and here we are, with a group of globalists who loathe America making the decisions about how to “save our country.”

[Ghost of Philip Marlowe]

Excellent points.

I’ve been a student of the communist/socialist subversion of Western culture for many years. What you refer to is correct.

It is frightening how successful the global communists/socialists have been (and continue to be) in pushing their agenda through their confessed/openly stated process.

[LomanBill]

IOW, you’re just not going to face the facts and acknowledge that major players in the Sub-Prime / Shadow banking industry were...gasp... Unregulated.

Doesn’t do much for your credibility.

Does your wife make you wear ACME floaties when you go “Drift Diving” in the bathtub, Wiley?

[driftdiver]

“IOW, you’re just not going to face the facts and acknowledge that major players in the Sub-Prime / Shadow banking industry were...gasp... Unregulated.”

No, I’m saying you have no idea what you are talking about.

“Doesn’t do much for your credibility.”

Go back to your cut-n-paste stored procs.

Actually I’m qualified as a rescue diver but I think I’d let you drown.

[LomanBill]

>>No, I’m saying you have no idea what you are talking about.

Well then, to prove that assertion all you have to do is produce the relevant sections of the U.S. code (2007 edition) that regulated Argent Mortgage.  Should be easy for a suuuper duper hacker genius like yourself, Wiley.  And after you're done FAILing at that - you can continue not telling us how you "force" folks to write secure systems. LOL.

Are the ACME Floaties included with the ACME doit yourself Suuper Duper Blackhat spy kit - or do you have to order those separately?

[driftdiver]

So you expect a specific company to be listed? Are you daft?
You have no argument.

Go do your own homework if you don’t know your job.

[LomanBill]

>>So you expect a specific company to be listed?

No, I expect you to fail at producing the relevent sections of the U.S. Code (2007 edition) that regulated Argent Mortgage and the rest of the Shadow Banking industry.

You FAIL at doing so, because no such section of the code existed. 

===================================================

Shadow Banking System

 

What Does Shadow Banking System Mean?
The financial intermediaries involved in facilitating the creation of credit across the global financial system, but whose members are not subject to regulatory oversight. The shadow banking system also refers to unregulated activities by regulated institutions.

Investopedia explains Shadow Banking System

Examples of intermediaries not subject to regulation include hedge funds, unlisted derivatives and other unlisted instruments. Examples of unregulated activities by regulated institutions include credit default swaps.

The shadow banking system has escaped regulation primarily because it did not accept traditional bank deposits. As a result, many of the institutions and instruments were able to employ higher market, credit and liquidity risks, and did not have capital requirements commensurate with those risks. Subsequent to the subprime meltdown in 2008, the activities of the shadow banking system came under increasing scrutiny and regulations

http://www.investopedia.com/terms/s/shadow-banking-system.asp

=================================================

 

Tell us Wiley -- what does "unregulated" mean in the ACME NewSpeak dictionary, Driftdiver 2011 edition?

 

 

[driftdiver]

You need more lithium or tinfoil, perhaps both.

[LomanBill]

>>You need more lithium or tinfoil, perhaps both.

No doubt a black-helicopter seeing conspiracy theorist such as yourself is well stocked on those items.

But as to your stock of knowledge regarding the non-regulation of items such as credit default swaps; and the predatory lenders who manufactured the prerequisite upstream ingredients -— you’re all out.

[driftdiver]

Oh there were plenty of regulations allowing those things.

Why do you want so much govt control? A little unusual for a big govt person to be posting on FR.

[LomanBill]

>>Oh there were plenty of regulations allowing those things.

LOL.  Since you're evidently just a flatulent disingenuous gas bag who is incapable of providing facts, maybe those ACME floaties are redundant anyhow.

So, Wiley, which agency regulated Argent Mortgage; and which section of the U.S. Code (2007 edition) Empower(tm)ed them to do so, hmmmmm?

>>Why do you want so much govt control?

Is a Republic not a system of governance characterized by the Rule of Law? 

Used your ACME Chemistry set lately to blow up any Federal office buildings with black helicopter landing pads on the roof, Wiley?