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Post by walnut on Jan 16, 2023 15:29:26 GMT
They borrow it, it ends up in their pockets, we pay the debt (supposedly) and take the inflation hit.
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Post by glennkoks on Jan 17, 2023 13:20:49 GMT
The national debt is about 93,785.00 for every citizen of our nation and about 247,000 per taxpayer. I don't know what number is worse, the 93,000 or the fact that it jumps up to 247,000 when you add "taxpayer" to the sentence. Seems like a lot of people riding on the cart and not enough pulling it.
I have always said that the biggest threat to our continued prosperity does not come from beyond our borders. It comes from our debt.
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Post by missouriboy on Jan 17, 2023 14:32:48 GMT
The national debt is about 93,785.00 for every citizen of our nation and about 247,000 per taxpayer. I don't know what number is worse, the 93,000 or the fact that it jumps up to 247,000 when you add "taxpayer" to the sentence. Seems like a lot of people riding on the cart and not enough pulling it. I have always said that the biggest threat to our continued prosperity does not come from beyond our borders. It comes from our debt.  |
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Post by glennkoks on Jan 30, 2023 23:15:38 GMT
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Post by missouriboy on Jan 31, 2023 4:25:02 GMT
I found this more than a little alarming. The Bank Of International Settlements came out and said about 70 trillion (USD) is missing from normally reported financial statistics. Most of it is in the form of currency swaps. I must admit I was unaware of the existence of a Bank Of International Settlements so I will not try to explain it but it has the potential to cause a big problem should banks start defaulting. It well worth the read or if you have time you can watch the video. How does this differ from "derivatives"? Listing of Banks by value of derivatives.
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Post by ratty on Jan 31, 2023 7:28:29 GMT
I found this more than a little alarming. The Bank Of International Settlements came out and said about 70 trillion (USD) is missing from normally reported financial statistics. Most of it is in the form of currency swaps. I must admit I was unaware of the existence of a Bank Of International Settlements so I will not try to explain it but it has the potential to cause a big problem should banks start defaulting. It well worth the read or if you have time you can watch the video. How does this differ from "derivatives"? Listing of Banks by value of derivatives. Artificial 'assets', created out of thin air by bankers and traders. That should scare the bejeezus out of most people. |
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Post by glennkoks on Jan 31, 2023 12:08:55 GMT
After doing a little research and watching the video several times the BIS is known as the Central Bank to the Central Banks. It is sometimes referred to as "invisible" debt and does not have to be reported. On the surface it does not seem that harmful, The Bank of Japan needs US dollars, the bank Russia has some extra so they swap Yen for Dollars. The debt is to be paid back in US dollars at a pre-determined time. Over 80% of that 70 trillion dollar debt is set to be paid back this year. If Japan does not have the Greenbacks to pay Russia back they have to refinance that debt. The problem arises because the world has changed so much over the last year the cost to refinance that debt has risen so much.
If bank A goes into default bank B may not have the cash to pay off it's swaps and contagion spreads from bank to bank like a wildfire. It is certainly something to keep an eye on and I fail to believe this has gone unnoticed by the likes of Chase, Goldman Sachs and Wells Fargo's of the world.
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Post by missouriboy on Jan 31, 2023 15:11:03 GMT
After doing a little research and watching the video several times the BIS is known as the Central Bank to the Central Banks. It is sometimes referred to as "invisible" debt and does not have to be reported. On the surface it does not seem that harmful, The Bank of Japan needs US dollars, the bank Russia has some extra so they swap Yen for Dollars. The debt is to be paid back in US dollars at a pre-determined time. Over 80% of that 70 trillion dollar debt is set to be paid back this year. If Japan does not have the Greenbacks to pay Russia back they have to refinance that debt. The problem arises because the world has changed so much over the last year the cost to refinance that debt has risen so much. If bank A goes into default bank B may not have the cash to pay off it's swaps and contagion spreads from bank to bank like a wildfire. It is certainly something to keep an eye on and I fail to believe this has gone unnoticed by the likes of Chase, Goldman Sachs and Wells Fargo's of the world. Bernie Madoff (Madeoff) was an amateur. What if these "invisible" assets migrated into a laundered string of "real" assets controlled by some of the players in what has been amateurishly referred to as "the new world order"? A seriously professional version of Good fellas comes to mind. CICADA (Common International Crooks And Digital Authoritarians) morphs into a new landed aristocracy whose wealth is based on a professionally laundered trail of title(s). Conspiracy theory? WHO knows. The history of the landed aristocracy of Europe (and elsewhere) is not so different. Mass defaults trigger collapse for everyone but the New Bosses. After all, the real assets did not disappear. They (and you) just now belong to them. YOU will own nothing, and be happy. THEY will own everything, and be happier ... until KARMA drops them in a hole. Walnut. Can you get Cindy to write up this story line? I expect a best-seller if she does a good job.
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Post by glennkoks on Jan 31, 2023 23:14:37 GMT
The thing that gets me is if it is just a "currency swap" how did it get to be almost 100 trillion worldwide. You can bet since the banks are not required to report it they have found a way to do some Enron type accounting...
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Post by code on Feb 10, 2023 17:54:28 GMT
New York vs. Florida, by the Numbers Some numbers tell a story about comparative governance. By The Editorial Board Feb. 9, 2023 7:14 pm ET
Attachments:
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Post by ratty on Feb 11, 2023 9:44:27 GMT
New York vs. Florida, by the Numbers Some numbers tell a story about comparative governance. By The Editorial Board Feb. 9, 2023 7:14 pm ET Thanks Code. That's almost astounding. |
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Post by walnut on Feb 11, 2023 14:10:53 GMT
I think that a currency swap is just a contract to exchange interest. The "derivative" part of it happens when one or either party are only posting a small fraction of the value of the contract with actual reserves, and their accounts are "marked to market" on a daily basis to reflect changing interest rates.
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Post by flearider on Feb 11, 2023 17:43:17 GMT
who has gold ?? hidden in there house ? just in case ? i've purchased a few portions for when we go digital currency..  |
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Post by ratty on Feb 11, 2023 20:53:51 GMT
who has gold ?? hidden in there house ? just in case ? i've purchased a few portions for when we go digital currency.. Hope you can get cash for it .....  |
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Post by missouriboy on Feb 11, 2023 22:25:28 GMT
who has gold ?? hidden in there house ? just in case ? i've purchased a few portions for when we go digital currency.. A bit of good "hard" currency is good to keep around. My bank card is handier. But with a multi-thousand year track record, the gold/silver will outperform my bank in a real pinch.
I'm still looking for Bloody Bill's buried stashes.
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