>>> double bluff
I'd like to see some comments on this article:
http://news.goldseek.com/TrendInvestor/1229359632.php
extract: "
*So a total of $975 Billlion Dollars would be required as an absolute maximum to bail out every single foreclosed mortgage in America. **So
why do we have an $8.5 trillion Dollar solution to solve a $975 Billion
Dollar problem? ...*
CB: Raghu and I said something this on PEN-L about six months ago. We said give all the foreclosure debtors the money to pay their mortgages. The creditors would then get paid , and it would be win-win. The money could be given to the debtors in a script that could only be used to pay mortgage debts.
OTC derivative contracts are basically the same as regulated futures contracts. They are also zero sum, BUT they do not take place within an
exchange. So they are not regulated and they are not transparent. What
has happened is that a band of insiders have taken such huge OTC derivative bets that they have been able to push the markets, so that many of these OTC derivative contracts have triggered. Because the amount of leverage used or the notional value of these contracts is so
high it takes very little movement for the outsiders to become insolvent, it is leverage gone mad. The Insiders knew that this would happen, but they also knew that the Government would not allow this corrupt system to fail.
^^^ CB: I said this too, more recently. The "too big to fail" group knew they gov'mint wouldn't let them fail. They did a test run on that with LTCM the hedge fund several years back. Sure enough LTCM was bailed out.
Hence the $8.5 trillion Dollars of bailouts, this money is simply being
transferred or funnelled from the taxpayers to a select band of Wall Street insiders. Remember it is a zero sum game the outsiders Bear Stearns, Wachovia, Citigroup LOST but somebody gained an equivalent amount. As Gordon Gecko stated in the film Wall Street.
…The Politicians and media go on, and on, about how this is necessary to save the system, too big to fail, etc, etc. It is all rubbish they are
nothing more than paid salesman for the bankers, it is a Government of
the few and only for the few. The banks had huge unregulated bets amongst themselves and all kept in secret, the outsiders inevitably lost, and your money is now being funnelled directly to the bet winners. It is theft pure and simple.
^^^ CB: Life imitates art.
^^^^
…*$8.5 Trillion Dollars would buy exactly 80% of all the mortgages outstanding in America*. So imagine for *the same money that your government or is it the bankers government? have already given to the bankers they could have instead sent you a cheque for 80% of your outstanding mortgage*, that would be some Christmas present. Instead they decided to send all of this money,*YOUR MONEY* to a select band of
Wall Street insiders.
…Ironic that a few bankers have engineered the biggest robbery in history.”
^^^^ CB: I said this too, last week. The Greatest Bank Heist in history wherein the banks do the heisting.
This article is all plagerism (smile)
found here: http://webabuser.wordpress.com/2008/12/16/wall-street-coup-d%e2%80%99etat-must-read/
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