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Thread: Meltdown: watching this reminds me of what is going on now JPM kicking it off like Bear Stearns 08'

  1. #1
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    Default Meltdown: watching this reminds me of what is going on now JPM kicking it off like Bear Stearns 08'

    http://youtu.be/70rvA_QnQ5w" type="application/x-mplayer2" autostart="false" width="330" height="270" pluginspage="http://www.microsoft.com/Windows/Downloads/Contents/Products/MediaPlayer/">


    You will have to weed out the left wing propaganda in this but the story lines seems eerily similar to what is happening now with Greece JPM and whoever comes next.

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    You need to fix your link....

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    Fixed Paul's video. It is an excellent reminder of what was, what is, and what is coming again soon in the worldwide financial markets... times 1000.



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    Thanks Homesick777

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    Interesting. I wish I followed all that a lot more back then. Surprised I didn't. The following summarizes it all and shows just how catastrophic the situation was and likely still is.

    The financial system of this country and that of the whole world will meltdown in a matter of days.
    What do you do when faced with such a decision? As it was noted, didn't take long at all for the contagion to spread and soon there was Ireland in trouble, Iceland bankrupt and fast growing China collapsing to almost no growth. I wasn't aware that the person, Hank Polson, overseeing the crisis and progressing the legislation was himself (according to the program) a free market capitalist (and former banker). Clearly the horror of a global economic meltdown forced the hand of these guys to take such evasive action.

    We don't see the big banking system in the USA under such threat today. Europe is another story and not only their banks, but a few of their sovereigns are in deep trouble too. Seems a similar system of complex derivatives and contracts are still entrenched in the financial matrix today so begs the question how much longer until we see yet another global financial crisis (though the first one hasn't really been resolved even as that story suggested at the end) and perhaps much worse?

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    I have not watched the video.

    That said, the thing that floors me is that not a single aspect of the fiscal issues that contributed to what happened in 2008 has been dealt with. Not one. So, there is absolutely nothing to stop it from happening again. Same song, second verse.
    "Thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind. This is the first and great commandment." (Matthew 22:37-38)

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    It has not been dealt with because TPTB wants this to happen. They know exactly what they are doing. Their goal is: control.

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    IMHO,Greece is the first domonio to fall.Spain and Italy will follow shortly.Look-out.It's going to be a Bumpy and very interesting spring ,summer and fall.
    Isaiah 41:10

    Fear not, for I am with you; Be not dismayed, for I am your God. I will strengthen you, Yes, I will help you, I will uphold you with My righteous right hand.’

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    Short 4.00 minute video on BBC about similar potential outcome of the Eurozone's banking system last year....

    Eurozone was 'very close to collapse'

    A European Central Bank board member has conceded the ECB may have "saved" the eurozone banking system and eurozone economy in Autumn 2011 by providing one trillion euros of emergency loans to hundreds of European banks at an interest rate of just 1%.

    ECB Executive Board member, Benoit Coeure, told Robert Peston: "We were very close to a collapse in the banking system in the euro area, which in itself would have also led to a collapse in the economy and deflation, And this is something that the ECB could not accept."

    http://www.bbc.co.uk/news/business-18071070

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    As long as there is a carnal god of greed and money to be made from making the riskiest possible trades without consequences, you can be certain that the financial corporations and traders will be 10 times over their ears deep in the unmentionable at all times. Why not?

    In October of last year, in what many called a potential "Financial Armageddon," Bank of America pushed the liability for 75 TRILLION Dollars of risky derivatives trades from their books onto those of the Feds. If Bank of America gets so much as a hiccup in the future, the taxpayers are now on the hook for the full amount, which is 5 times our current $15 trillion national debt. This is NOT a unique situation. The shenanigans never stopped with Lehman and Bear Stearns. The only thing that stopped was the truth, because the truth is just too mind boggling to handle. I've seen an educated estimate for the world at somewhere over 700 TRILLION Dollars in derivatives. Full story at link.

    Derivatives are financial instruments used to hedge risks or for speculation. They’re derived from stocks, bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates.
    http://www.bloomberg.com/news/2011-1...bank-unit.html

    This world is most likely only 24 hours from total financial collapse... probably the day after they realize that those people who suddenly disappeared are not coming back. Fear not!

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    Quote Originally Posted by Homesick777 View Post
    As long as there is a carnal god of greed and money to be made from making the riskiest possible trades without consequences, you can be certain that the financial corporations and traders will be 10 times over their ears deep in the unmentionable at all times. Why not?

    In October of last year, in what many called a potential "Financial Armageddon," Bank of America pushed the liability for 75 TRILLION Dollars of risky derivatives trades from their books onto those of the Feds. If Bank of America gets so much as a hiccup in the future, the taxpayers are now on the hook for the full amount, which is 5 times our current $15 trillion national debt. This is NOT a unique situation. The shenanigans never stopped with Lehman and Bear Stearns. The only thing that stopped was the truth, because the truth is just too mind boggling to handle. I've seen an educated estimate for the world at somewhere over 700 TRILLION Dollars in derivatives. Full story at link.



    http://www.bloomberg.com/news/2011-1...bank-unit.html

    This world is most likely only 24 hours from total financial collapse... probably the day after they realize that those people who suddenly disappeared are not coming back. Fear not!
    Agree with pretty much all you mention there. I watch these developments like watching the sands in an hourglass (no never watched the Days of our Drearies) as the remaining pinch left dwindles to grains immediately before the rupture (or should I say rapture) of the global economy and its collapse.

    It's ironic that derivatives (as defined) are suppose to hedge risks yet all they merely do is mask risks.

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