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# There Will Be Consequences --The Inevitable Collapse of the Dollar

Business  (tags: debt, collapse, society, finance, cover-up, government )
- 3916 days ago - brasschecktv.com
What goes up will come down "The path that we're on right now is not sustainable." "The portfolio adjustments will be swift and severe." There's going to be a major realignment of global living standard." Nobody in the US wants to talk about it
 Janet Solomon (231) Wednesday October 1, 2008, 9:54 pm Nobody in the US wants to talk about it, but it's pretty easy to see when you're viewing things from outside of the fishbowl. Ten years from now, it's going to be aradically different world, and the changesare starting right now. Why is this inappropriate? Your report has been submitted to Customer Service. Thank you. There was a problem submitting your report. Please try again later.
 Blue Bunting (855) Thursday October 2, 2008, 4:49 am The crisis explained By one RDF: Joe goes to the track and bets \$2 on a horse. Two guys standing nearby get into a discussion and Fred says to Sam, “I’ll bet you \$5 that Joe wins his bet.” Next to them are Bill and Bob. Bill says: “I’ll bet you \$10 that Fred welshes on his bet if he loses.” Next to them is Sally. Sally says: “For \$3 I’ll guarantee to Bill that if Bob fails to pay off, I’ll make good on the bet.” Sally then goes to Mary and borrows the \$7 needed in case she has to ever pay off and promises to pay back \$8. She doesn’t expect to every have to pay since she believes Bob will always make good. So she expects to net \$2 no matter what happens to Joe. A quick calculation indicates that there is now 2+5+10+3+7 = \$27 riding on the outcome of the horse race. Question how much has been “invested” in the horse race? Wait for it: Answer: \$50,000 by the owner of the horse who is expecting to recoup his investment from the winnings of the horse and other future deals. Everyone else is gambling, not investing. So, when Hank Paulson and his golfing buddies go to the track and lose the rent money playing the ponies, we should pay up? http://www.correntewire.com/the_crisis_explained That's perfect and it’s not even an analogy - it’s exactly how derivitives and credit default swaps work, including none of the gamblers having any financial relationship to the underlying asset (the horse, or mortgages) in a lot of cases. Why is this inappropriate? Your report has been submitted to Customer Service. Thank you. There was a problem submitting your report. Please try again later.
 Blue Bunting (855) Thursday October 2, 2008, 4:49 am Politics in the Zeros: Spread the meme. Republicans are the party that wrecked America. John McCain’s long history with bank failures and financial scandals makes him uniquely ‘qualified’ to speak to the current crisis. The next time a Republican friend says McCain is ready to Regulate the financial world... Refer them to ProgressiveAccounting.org for a really long list of all the DEREGULATION McCain has supported over the past 26 years to get us into this mess. Then suggest a vote for Obama. Why is this inappropriate? Your report has been submitted to Customer Service. Thank you. There was a problem submitting your report. Please try again later.

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