Posted on 12/07/2014 4:30:18 PM PST by dontreadthis
If the Feds insure the losses, then it would be like a Roulette game in which someone just puts their chips on “00”. The odds aren’t good — but if you lose, your buddy pays the Casino, so why not? And if that 35-to-1 shot comes up?? Man, you got money in your pocket!!!!
FYI
Another article: Video on the page
Wall Street Demands Derivatives Deregulation In Government Shutdown Bill
http://www.huffingtonpost.com/2014/12/04/wall-street-government-shutdown_n_6272776.html?1417744081
Excerpt:
Wall Street lobbyists are trying to secure taxpayer backing for many derivatives trades as part of budget talks to avert a government shutdown.
According to multiple Democratic sources, banks are pushing hard to include the controversial provision in funding legislation that would keep the government operating after Dec. 11. Top negotiators in the House are taking the derivatives provision seriously, and may include it in the final bill, the sources said.
You mean the government’s that low on ink?
In Old Testament days, that was known as the Year of Jubilee.
The Global Financial Pyramid Scheme By The Numbers
The Economic Collapse Blog | March 20, 2013 | Michael@TEC / FR Posted by Diana in Wisconsin
*SNIP* The following is the global financial pyramid scheme by the numbers...
-$9,283,000,000,000 - The total amount of all bank deposits in the United States. The FDIC has just 25 billion dollars in the deposit insurance fund that is supposed to “guarantee” those deposits. In other words, the ratio of total bank deposits to insurance fund money is more than 371 to 1.
-$10,012,800,000,000 - The total amount of mortgage debt in the United States. As you can see, you could take every penny out of every bank account in America and it still would not cover it.
-$10,409,500,000,000 - The M2 money supply in the United States. This is probably the most commonly used measure of the total amount of money in the U.S. economy.
-$15,094,000,000,000 - U.S. GDP. It is a measure of all economic activity in the United States for a single year.
-$16,749,269,587,407.53 - The size of the U.S. national debt. It has grown by more than 10 trillion dollars over the past ten years.
-$32,000,000,000,000 - The total amount of money that the global elite have stashed in offshore banks (that we know about).
-$50,230,844,000,000 - The total amount of government debt in the world.
-$56,280,790,000,000 - The total amount of debt (government, corporate, consumer, etc.) in the U.S. financial system.
-$61,000,000,000,000 - The combined total assets of the 50 largest banks in the world.
-$70,000,000,000,000 - The approximate size of total world GDP.
-$190,000,000,000,000 - The approximate size of the total amount of debt in the entire world. It has nearly doubled in size over the past decade.
-$212,525,587,000,000 - According to the U.S. government, this is the notional value of the derivatives that are being held by the top 25 banks in the United States. But those banks only have total assets of about 8.9 trillion dollars combined. In other words, the exposure of our largest banks to derivatives outweighs their total assets by a ratio of about 24 to 1.
-$600,000,000,000,000 to $1,500,000,000,000,000 - The estimates of the total notional value of all global derivatives generally fall within this range. At the high end of the range, the ratio of derivatives to global GDP is more than 21 to 1.
June 21, 2012-—EXCERPT—The derivatives casino itself is just a last-ditch attempt to prop up a private pyramid scheme in fractional-reserve money creation, one that has progressed over several centuries through a series of reservesfrom gold, to Fed-created base money, to mortgage-backed securities, to sovereign debt ostensibly protected with derivatives.
Weve seen that the only real guarantor in all this is the government itself, first with FDIC insurance and then with government bailouts of too-big-to-fail banks. If we the people are funding the banks, we should own them; and our national currency should be issued, not through banks at interest, but through our own sovereign government.
Unlike Greece, which is dependent on an uncooperative European Central Bank for funding, the US still has the legal power to issue its own dollars or borrow them interest-free from its own central bank. The government could buy back its bonds and refinance them at 0% interest through the Federal Reservewhich now buys them on the open market at interest like everyone elseor it could simply rip them up.
The chief obstacle to that alternative is the bugaboo of inflation, but many countries have proven that this approach need not be inflationary. Canada borrowed from its own central bank effectively interest free from 1939 to 1974, stimulating productivity without creating inflation; Australia did it from 1912 to 1923; and China has done it for decades.
The private creation of money at interest is the granddaddy of all pyramid schemes; and like all such schemes, it must eventually collapse, despite a quadrillion dollar derivatives edifice propping it up.
SOURCE: ELLEN BROWN, author of “Web of Debt: the Shocking Truth About Our Money System and How We Can Break Free.”
Sorry clear case guy, the odds for 00 are exactly the same as every other single number bet on the board. The 00 and 0 are the house’s vig.
bkmk
Would be okay if we had been doing this every 7th year all of this time. Pretty hard to start when everything is out of control :) Also... would pretty much put an end to the 30 year mortgage, which would be a good thing.
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