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Thread: Derivatives - AN OPEN LETTER

  1. #31
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    Quote Originally Posted by Dodo View Post
    IMF Special Depository Receipts (SDRs) are another important derivative. Some financial reporters have stated that use of SDRs as a global currency will occur to unwind the next financial crisis.


    "I understand a man or women with hungry kids stepping outside the bounds of society in these hard economic times and stealing a loaf of bread. But that man or women with the hungry kids is not the reason for these hard economic times. It's the Wall Street money junkies, already rich beyond dreams of Midas, who cost the nation $27 trillion with their mortgage-backed security fraud. That this has become a fascist nation is underscored by the fact that the man or women stealing bread for their kids will see the inside of a jail long before the Wall Street crooks who stole that $27 trillion." --



    Rivero

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    Quote Originally Posted by Svengarlicky View Post
    "I understand a man or women with hungry kids stepping outside the bounds of society in these hard economic times and stealing a loaf of bread. But that man or women with the hungry kids is not the reason for these hard economic times. It's the Wall Street money junkies, already rich beyond dreams of Midas, who cost the nation $27 trillion with their mortgage-backed security fraud. That this has become a fascist nation is underscored by the fact that the man or women stealing bread for their kids will see the inside of a jail long before the Wall Street crooks who stole that $27 trillion." --



    Rivero
    $27Trillion? Are we talking real money here?


  3. #33
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    Quote Originally Posted by Katz View Post
    $27Trillion? Are we talking real money here?

    It's a board game-- Obamopoly.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

  4. #34

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    Quote Originally Posted by aslan View Post
    It's a board game-- Obamopoly.
    Obamanopoly, available on Amazon -

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    Quote Originally Posted by zengrifter View Post
    Obamanopoly, available on Amazon -

    I knew it must be out there somewhere. I assume the play money is in the trillions for realism.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

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    A derivative is not worth the paper it isn't written on. ~ Me

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    Quote Originally Posted by Katz View Post
    $27Trillion? Are we talking real money here?



    Not at all, highness. Money means an exchange medium backed something of tangible value(asset) counterdistinguished with currency which is backed by debt (liability).

  8. #38
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    Quote Originally Posted by Svengarlicky View Post
    Not at all, highness. Money means an exchange medium backed something of tangible value(asset) counterdistinguished with currency which is backed by debt (liability).
    In that case there would be no U.S. money, since all U.S. currency is backed by debt, either private or public. The Bureau cannot simply print currency, it must be backed by commercial paper. Macy's borrows from the Fed or member bank and their promise to pay is an Accounts Receivable on the books of the Bank, an asset, and is used to back additional currency being printed. After all, Macy's needs currency to do business and it has to come from somewhere. The U.S. government can also borrow and this too can be used to print more money. So it's really assets on the books of the Fed that is used to create new currency, which is to say, it is debt on the books of the borrowers, Macy's and the U.S. government. The government is not really borrowing from itself, because the Fed is part of the legitimate private banking system. Now, if you ask, "Is the Fed acting responsibly in loaning unprecedented amounts to the government," well, that's another question. It is the only way the Fed can keep up its Ponzi scheme, which promises to fall of its own weight unless the Fed has more tricks up its sleeves (I can't imagine what), IMUO (in my uneducated opinion).
    Last edited by aslan; July 16th, 2014 at 01:39 PM.
    Aslan 11/1/90 - 6/15/10 Stormy 1/22/95 -8/23/10
    “There are not one hundred people in the United States who hate The Catholic Church,
    but there are millions who hate what they wrongly perceive the Catholic Church to be.”
    Bishop Fulton J. Sheen

    “It takes a very long time to become young.” Pablo Picasso

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