6 votes

Nice stress test for troubled banks...2 billion in sloppy losses, I guess they always have the Lender of Last Resort

This is another example of flushing US TAX PAYER money down the shitter.

Give them dump trucks of cash and they light it on fire....while the common man drowns


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lender of first resort. Who needs pesky depositors when they can simply be given no interest money anytime they ask for it.

When the SHTF

a lot of bankers will need to change occupations.
I think most of them will become rope-stretchers.

I sure do hope it "hits the fan" BEFORE Ron Paul

gets into office. My greatest fear is TPTB will use an RP administration to plunge the world into the Greater Depression and all the sheeple will blame free market capitalism and sound money for the collapse. It would set back our Freedom Movement for decades if not longer. If RP gets elected and it has not yet hit the fan, he BETTER spend Nov and Dec of 2012 to EDUCATE and ENLIGHTEN the sleeping masses about the looming global financial crisis that has nothing to do with him or his sound money principles. AND that the Military/Security Industrial Complex along with all the alphabet agencies are going to be very upset knowing that their free spending rein's of terror are going to be scaled back...which, if history is any guide, is going to cause them to violently stike the US homeland and blame it on Iran or some other country that "hates America for our freedoms". There has never been a more clear example of a nation where domestic enemies have infiltrated nearly every high office in both the Federal and State Governments. People have got to know BEFORE RP takes office...that the ship of state has sailed so far off course that no one can turn it around without some real pain and sacrifice. The honesty and integrity of RP should help people through the tough times ahead, but he nor anyone else can keep them from happening.

I have the same concerns about misplacement of blame.

The money supply of the USA is all bank debt except for the small portion of it that is debased coinage. Federal Reserve Notes are liabilities of the Federal Reserve Bank and your checking accounts, savings accounts and CD's are liabilities of commercial banks. It is all a house of cards with the FDIC a sham and the federal government insolvent many times over. Most of the banks are insolvent and just being propped up by fraudulent accounting.

It could all easily come down with lightening speed making money worthless (it already is but we pretend it isn't). Yes when money is debt, it can lose its value from deflation of the supply down to zero from default, as opposed to losing its value from inflation of the supply.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.

won't make any difference.

won't make any difference. with Paul it will be over in a year, then prosperity will return with a vengeance. He will go into the books as one of the top 2 presidents of all times.