$75 TRILLION (!!!) justify OWS

Originally posted by ArrowsNV

Originally posted by Q:1984A:1776
reply to post by MrXYZ

 

If those OWS people actually want to make a difference, they could take all of their money out of the banks they claim to despise. They could stop paying their taxes to a government that subsidizes the evil practices of said banks. They could stop buying #ing Guy Fawkes masks from God damned Time Warner!

That's exactly what they're doing, in case you haven't been paying attention. They've been advocating moving money out of banks and taking it to credit unions pretty much since OWS started. Last I heard a bunch of OWS protesters were actually arrested in a CitiBank for doing just that. And when I look at the pictures of the protests I see more people without Fawkes masks than with with them.

Maybe you should keep current with things happening around the planet.

He knows fine well. It's propaganda by a supporter of the status quo ie a capitalist who would like to get rich at other peoples expense. OWS is the most dangerous movement yet hence the astonishing level of anger vented against them here on ATS.

Just a reminder to all that the Guy Fawkes mask is actually the one used in V for Vendetta and in the context of that movie the mask is entirely appropriate.

reply to post by MrXYZ

This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties. Now the Fed and the FDIC are fighting as to whether this was sound. The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.

This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input. You will also read below that JP Morgan is apparently doing the same thing wit

cryptogon.com


The trick might actually click...

Here's how they're doing it.

This changes the picture completely. This move reflects either criminal incompetence or abject corruption by the Fed. Even though I’ve expressed my doubts as to whether Dodd Frank resolutions will work, dumping derivatives into depositaries pretty much guarantees a Dodd Frank resolution will fail. Remember the effect of the 2005 bankruptcy law revisions: derivatives counterparties are first in line, they get to grab assets first and leave everyone else to scramble for crumbs. [color=;imegreen]So this move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC, which would have to make depositors whole after derivatives counterparties grabbed collateral. It’s well nigh impossible to have an orderly wind down in this scenario. You have a derivatives counterparty land grab and an abrupt insolvency. Lehman failed over a weekend after JP Morgan grabbed collateral.

But it’s even worse than that. During the savings & loan crisis, the FDIC did not have enough in deposit insurance receipts to pay for the Resolution Trust Corporation wind-down vehicle. It had to get more funding from Congress. This move paves the way for another TARP-style shakedown of taxpayers, this time to save depositors. No Congressman would dare vote against that. This move is Machiavellian, and just plain evil.

Investments we can count on !

All the way FROM the bank

I wonder if the White House and Harry Reid are working overtime on this new "Bill" to you and me

Many people think that the FDIC is solely funded by banks through insurance premiums paid.

The sad truth is the FDIC is backed in the end by the taxpayers.

The FDIC has a high funding ceiling by the US Government !

(Aug 17, 2009 09:50 EDT)

With the FDIC insurance fund running low, there’s a fair amount of confusion out there about whether the FDIC can run out of money. The answer is no, it can’t. The insurance fund might be down to its last $13 billion, but that number is really useful only for accounting purposes. There’s a government guarantee on bank deposits; the FDIC is merely the arm of the government which administers that guarantee and tries to make sure, by charging banks insurance premiums, that it doesn’t cost the taxpayer any money over the long term.

Joe Weisenthal, this morning, says that we needn’t worry about the FDIC’s money running out because “Congress will replenish the FDIC instantly” — implying that there’s at least the possibility that Congress wouldn’t replenish the FDIC. But that’s not the case. [color=;imegreen]In May, President Obama signed a bill providing the FDIC with as much as $500 billion in credit at the Treasury — more than enough to cover anybody’s bank-failure worst-case scenario. That bill is now a law, which means that Congress needs to do nothing in the event that the FDIC’s funds go to zero. Why the FDIC won’t run out of money

Yes, it says "credit" to the FDIC, but what if they can't pay it back?
Then the Govt just prints more currency and sells more bonds to place even more interest payments on all of us and the unborn too !

In the end, the banks will/are simply raising fees and service charges to cover the expense.

All at the expense of citizens.

Maybe that $5 debit card fee ain't so bad after all

Originally posted by ArrowsNV

Originally posted by MrXYZ
reply to post by ArrowsNV

 

Haha I reposted that comic last night.

It's very true.

"DURR I DONT KNOW WHAT OWS WANTS, THEYR DUMB"

Well why don't you simply do some research and find out instead of just listening to the bought media telling you what they want you to hear? Their demands are pretty clear; In a nutshell they are: End the Fed and end corporate lobbying of elected officials as a start to removing the greed and corruption from politics.

perfect example of the MSM that's bought and paid for by guess who?? The bankers! Watch Fox news sometime and watch all the Gold, Chase, Bank of America commercials.

This is where "too big to fail" comes in handy.

You see they cannot possibly pay back 75 trillion dollars on a bad debt that isn't worth anywhere near that amount. So when it does fail BofA will threaten the American taxpayer with economic Armageddon if we do not pay their debt.

Deregulation is a wonderful thing if you're a crook on Wall St. That is why they pay politicians so much money to deregulate the markets!

reply to post by MrXYZ
All of what you said may be true or just your opinion.Unless someone has the ability to understand or research with some sort of comprehension then there is no way to know and a little late to obtain a degree in Economics.
That being said I belive you, I have read enough to know and researched enough to understand a little about derivatives,but my point is ,how many people in these parks do you think have a clue as to what you are talking about and understand anything about why they are there?

These demonstrations may have started out with good intent but have quickly become a joke.I watch the demonstrations in the middle east and then watch the people here in the U.S. crapping in the streets and camped out in the parks and all I see is a joke with no direction,and YA ,thats only my opinion.

Originally posted by Battleline
reply to post by MrXYZ

 

All of what you said may be true or just your opinion.Unless someone has the ability to understand or research with some sort of comprehension then there is no way to know and a little late to obtain a degree in Economics.
That being said I belive you, I have read enough to know and researched enough to understand a little about derivatives,but my point is ,how many people in these parks do you think have a clue as to what you are talking about and understand anything about why they are there?

These demonstrations may have started out with good intent but have quickly become a joke.I watch the demonstrations in the middle east and then watch the people here in the U.S. crapping in the streets and camped out in the parks and all I see is a joke with no direction,and YA ,thats only my opinion.

This is EXACTLY the issue, the mass media and politicians are ridiculing the protestors because they start to become really worried. So they claim the protestors are "stupid". I'm sure there's a few that aren't economic geniuses, but I've seen a ton of interviews with protestors that most definitely had a clue.

In case you're wondering why the media like Fox "News" for example are against OWS so much and therefore misleading their viewers on purpose:



THIS is exactly the kind of stuff people should be pissed off about!!

PS: I wasn't stating my opinion in the OP, that's why I posted links with sources...that $75 trillion damocles sword is reality...sadly

wow this is unbelievable is it time for pitchforks and torches yet?

to all the haters, nobody said ows was perfect or had the perfect answer to anything. people are angry and its good to see ordinary americans put this much time/effort into doing something about it. seriously how does ridiculing/mocking your fellow peasants acomplish anything but support the status quo? who are you people calling morons? what spell checker? grammar? i wuz bein graded on f@#king punctuation now? F.O. the pigs atleast get paid to help the establishment you do it for free?? genius!!!

it was etlitist snobs like you why goering said...

it doesnt matter the form of government facist,democracy,theocracy,etc as long as the average citizen has someone to hate more than their own government, you can pretty much do whatever you want.

(my basic translation/summarization) so cue the spelling/grammar/look at me im so smaht i can spell lecture.

Some interesting developments showing why the protestors need to keep it up, they can't back down. At least now there's a guy in charge who's AGAINST too big to fail. Let's see if he pushes through or gets bought like the rest...

Originally posted by Q:1984A:1776
reply to post by MrXYZ

 

If those OWS people actually want to make a difference, they could take all of their money out of the banks they claim to despise. They could stop paying their taxes to a government that subsidizes the evil practices of said banks. They could stop buying #ing Guy Fawkes masks from God damned Time Warner!

I don't use banks, I've found ways to avoid paying all Federal Income Tax (legally), and I don't buy products from corporations that I disagree with. THAT is the free market in action. They often talk smack about capitalism, but by exercising my abilities as a capitalist, I just accomplished more by my simple inaction, than they do by camping out in the cold and chanting 'til their voices crack.

Is it Free Market in action also when you buy off politicians to favor your industry, or give you subsidies?
Is it Free Market in action when you go from a CEO in large corporation or Wall Street Bank to becoming a politician in the government, in order to pass out crony contracts, and repeal or create rules and regulations that benefit you and your cronies, and stifle competition?
Is it Free Market in action when both parties agree on passing NAFTA, H1B Visa's, open border immigration, in order make more profits for their insider trading cronies on Wall Street and in the Government?

Your use of Free Market is laughable.
Are the world markets run as a Free Market? Because these traitors with their NAFTA policies want us to become like the third world through their GLOBALIST policies.

en.wikipedia.org...

The ability to enforce these clauses, especially with Mexico, and with much consideration and emotional discussion, the House of Representatives approved NAFTA on November 17, 1993, by a vote of 234 to 200. The agreement's supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8, 1993; it went into effect on January 1, 1994

MAY These people BURN IN HELL

reply to post by jacobe001


If a politician claims the US is a free market economy, he deserves to be voted out of office!!! No one having the slightest clue about economics can claim the US is a free market economy with a straight face.

Originally posted by MrXYZ
reply to post by ArrowsNV

 

Nice picture and spot on

Add your name to the list to get money out of politics.

www.getmoneyout.com...

Those bailouts added $3.5 trillion (!!!) of debt so far, and it's rising at around a trillion per year.

For some comedy, read the full Bank of America memo on the derivates shift and personnel changes...they will be the best bankrupt bank in the US: LINK



Here's a link to live streams for those who don't want the MSM nonsense spin: LINK

Then you would have no problem with shrinking all of the government to about 10% to what it is today then correct?

The problem is, the PARASITES and COCKROACHES at the top rely on a BIG GOVERNMENT to be able to dish out those crony contracts and subsidies to their Wall Street and Corporate Cronies.

I'm all for shrinking the government to 10% of what it is today so these cockroaches can FAIL and have to actually put on their BOOTSTRAPS and work in a real and free market.

Not one tailored to their benefit at everyone else's expense!

Originally posted by sonnny1

Originally posted by MrXYZ

Originally posted by sonnny1

Originally posted by ArrowsNV

"DURR I DONT KNOW WHAT OWS WANTS, THEYR DUMB"

Well why don't you simply do some research and find out instead of just listening to the bought media telling you what they want you to hear? Their demands are pretty clear; In a nutshell they are: End the Fed and end corporate lobbying of elected officials as a start to removing the greed and corruption from politics.

Wrong...........

People are doing research into it. Thats why there isnt 20 freekin million people at these OWS rally's ! NO ONE is buying it. Tell me,why isnt there 20 million,50 million ANGRY people showing up to these?

I wait patently for a response.

There's not that many yet because there's an obvious lack of knowledge...your posts are a great example of that. You are essentially ignoring $75 trillion dollars

First of all, no one's against profits or companies. But those profits shouldn't be made at the expense of citizens, their tax payer money and SAVINGS (!!!!) shouldn't be gambled (Wall Street) with or wasted (wars).

You can't look at people with a straight face and tell them it's ok that a single Wall Street company alone uses citizens' savings as collaterale for gambling used to pay crazy boni. Are you seriously ok with losing your savings if those banks go bust? Really?

Really? Im not ignoring anything actually. I see a protest,that has 3000 squatters in NY. Counted. Thats not a movement..



Second,75 trillion? How much money,in the past 100 years,has Governments wasted? Can you look that up for me? Hell,Medicare fraud is at 50 million a day. Should I protest people on Medicare,that abuse it? People in America believe that for every dollar the Government has,50% goes to waste.I am sure its really close to that,if not more. See,its AMERICANS that are Angry. Just look at what Congress approval is at,Hell,the Presidents. 75 trillion.....Again,where are the 20 million OWS supporters? Where are they? Waiting for more info? No. They dont Buy this protest,And wont.

Originally posted by jacobe001
Then you would have no problem with shrinking all of the government to about 10% to what it is today then correct?

The problem is, the PARASITES and COCKROACHES at the top rely on a BIG GOVERNMENT to be able to dish out those crony contracts and subsidies to their Wall Street and Corporate Cronies.

I'm all for shrinking the government to 10% of what it is today so these cockroaches can FAIL and have to actually put on their BOOTSTRAPS and work in a real and free market.

Not one tailored to their benefit at everyone else's expense!

Actually,I would like to see a 10% NATIONAL sales tax,and that's it. No flat"income" Tax.No VAT Tax.No more IRS,and no more Fed. No tax on food,medicine or housing. Shrink the Government? Hell yes!

Sounds good,right?

IMHO I beleive this OWS movement is mis-led. We get mad at companies for operating under constraints that the governemnt set forth. This should be O1S or Occupy First Street (US Capital Building in DC) we are inraged at banks and big business for opertating in the realm that they were given rather then direct our angry towards the government legislature that caused this in the first place. Liberal (big government) policies have been America's downfall over the last 100 years. Social security, welfare, medicaid, medicare, Fanny Mae, Freddy Mac, our Tax system, the New Deal, are all jokes and complete failures. You can't have the foxes in charge of the hen house. Now in the 21st century, we have government giving money to these "Too Big To Fail" corporations to "stabilize" the market. This money doesn't come from the 99% it comes from 100% of every American, small business, large business, and corporation being raped by the goverment. Now, the Fedral Reserve is insuring all internal bank debt for BofA, JP Morgan and other top banks. Our current debt is approx. 15 Trillion dollars the amount of insurance is 75 Trillion if these countries default it will be the end of the dollar as we know it...... O1S!!!!!!!!!!!!

This much publicity means basically its all PSYOPS.

They put it right there in the open. They choose which subject matter you will engage in.

OWS= Means the 99% OWEs ,,,not very funny NWO inside joke on YOU. NWO=OWN. Yes basically they "own" you and still do considerably.

You cannot solve a problem until you acknowledge it. If you think for a second you are waking up and these movements is a result of citizens waking up and standing up to corruption...you are sadly mistaken. They give you false hope and get you running in different directions with the subjects they assign.

Once you can see these things then you can begin your journey out of prison. All this stuff that is going on now is Hegel Dialectic and they are leading you into another jail cell with different furniture maybe a jail cell with glass rather than bars this time.

All this deny ignorance linear way of thinking claiming you have wonderful deductive reasoning skills and a fine grasp on factual reality etc will not free you one bit. Actually it will fragment you and enslave you even more.


So-
What do you do?
Well... there are powers greater than all the powers you claim to be greater out there --including yourself
that can help get you started in a correct direction.
Willingness, Honesty, Open Mindedness, Humility, and surrender is all thats required.
Ask yourselves---
Do you want to be right or do you want to be free?

reply to post by superluminal11


In other words: Don't be outraged and protest, remain obedient little workers....riiiiiiight

Originally posted by MrXYZ
reply to post by superluminal11

 

In other words: Don't be outraged and protest, remain obedient little workers....riiiiiiight

See.....that came out of your mind and I never said any such thing.

Lets just say many of you have a whole bunch of old ideas workin against you

Originally posted by Q:1984A:1776
They could stop buying #ing Guy Fawkes masks from God damned Time Warner!

Right after I saw the movie, I furiously made a paper mask as if I were building Devil's Tower.
img.photobucket.com...
At the time, I didn't know the mask would be part of a huge movement.

Originally posted by MrXYZ
I mean, in of the other threads, a guy seriously said "I don't know what they are so mad about!". To me, that just shows how indifferent many people are...and they need to stop being indifferent to issues like this, or else nothing will ever get better.

There are people who love being a slave and look forward to their day of slave ownership. They are the backbone of the nation. They love their media broadcasts. They vacation, drink, and look forward to Heaven where life really begins. This is all just an entertaining diversion until they reach their eternal bliss. Until then, back to the football game.