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$700 billion is nothing what about A Quadrillion

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posted on Oct, 19 2008 @ 08:52 AM
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Everyone is mad about the bailout but what about the $2.3 trillion that the pentagon said went missing?!?!?!?

What about the $1.5 trillion the federal reserve has created out of thin air in the past month.

What about the Quadrillion dollar bubble that currently being lent out worldwide?!!??

I say let it collapse so we can start from scratch because at the rate we are going we are just prolonging the inevitable.


[edit on 19-10-2008 by DaTruth]

[edit on 19-10-2008 by DaTruth]




posted on Oct, 19 2008 @ 09:09 AM
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Good find. Starred and flagged. That video presents terrifying information in a clear, concise way. If what it says is absolutely true, then it is beyond doubt that the world's financial system needs burning to the ground. Many people might suffer in the short term, but at least we might pave the way for a fair, bright future for our children rather than this terminally bleak one that currently lies before us.



posted on Oct, 19 2008 @ 10:43 AM
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Watching this just makes me convince myself again that america is screwed beyond repair and if I was in america I would get out of there ASAP.



posted on Oct, 19 2008 @ 10:46 AM
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Just goes to show Obama or McCain won't be able to fix this. The American people must stand behind each other and the the machine (gov).



posted on Oct, 19 2008 @ 02:53 PM
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Here is a link that discusses the potential $quadrillion issue.

The number is based on findings by the Bank for International Settlements in Basel, Switzerland. BIS is the bank for the world's central banks. It creates the international standards for banking. BIS knows money.

Someone told me recently that I was "wrong" about the derivatives market figures because there's not that much money in the world.
If I'm wrong, then so is the proverbial "bank of banks," so is every economist, so is every financial expert on Earth. The fact that there isn't enough money is exactly the problem.



posted on Oct, 19 2008 @ 02:57 PM
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reply to post by anachryon
 


I had the same reaction (wonder if it is the same poster?) in my timeline thread.

was told that the number was not possible.

Whoops, guess they were proven wrong - again



posted on Oct, 19 2008 @ 03:24 PM
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reply to post by redhatty
 


Doesn't look like it was the same person, but it goes to show that the derivatives market is beyond the imagination of many people. I mean, how much is a $quadrillion?? That's a $trillion times a thousand. That's $1,000,000,000,000,000. How can anyone pay these debts off???

The problem is that they can't. Were everything covered under derivatives to go belly up, we'd be looking at global economic collapse.
Fortunately (if there's a fortunately), a chunk of the derivatives cancel each other out. If Company A made a $100 bet with Company B that Entity X would fail, Company B could make a bet with Company A for $150 that Entity X would fail. When Entity X fails, $50 of that bet is canceled out and only $50 is owed in the end.
It remains, though, that even if half the contracts are canceled out by counter-bets, we're still looking at $500T. The article I linked goes further and illustrates that even if only 1 or 2% of the contracts aren't canceled out, that's still $10-20T, which is a tremendous chunk of the worldwide economic output.

It's difficult for anyone to comprehend numbers that large. It's understandable that some won't "get it."



posted on Oct, 19 2008 @ 03:52 PM
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I guess the only reason that people allow this travesty to perpetuate itself is the fact that no one wants to be the first one to be shot at and killed.
If everyone in the entire united states got together and stopped working for just one week, they might listen.
But alas APATHY is the law of the land.
I guess I'll go watch tv now.



posted on Oct, 19 2008 @ 06:57 PM
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reply to post by reticledc
 


You could not have put it any simpler. They have us to believe that the common man only has so much power. But we are all gears in a system that has perpetuated some of the greatest Atrocities in known time. We are just as guilty as those who have made this country and the world the capitalistic jungle that it is today. Gluttony is a "sin" and we have reached the limit we are to complacent. Let's face it in America with all of it racism, greed and corruption it's a lot easier living here than other places where the fear is in your face and you know your place.

We were happy just being concerned with our normal lives and letting the politicians deal with reality for us. Well people it's time for us to face our reality. Each of us in a way has let this system perpetuate. This is the exact reason we fought a revolution damn it. What type of future are we going to leave the next generation. They will look back at the time between 2001 and 2012 as the defining moment that created there world. God help Us.



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