The too big to fail banks are now much, much larger than they were the last time they caused so much trouble. The six largest banks in the United States have gotten 37 percent larger over the past five years. Meanwhile, 1,400 smaller banks have disappeared from the banking industry during that time. What this means is that the health of JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley is more critical to the U.S. economy than ever before. If they were “too big to fail” back in 2008, then now they must be “too colossal to collapse”. Without these banks, we do not have an economy. The six largest banks control 67 percent of all U.S. banking assets, and Bank of America accounted for about a third of all business loans by itself last year. Our entire economy is based on credit, and these giant banks are at the very core of our system of credit. If these banks were to collapse, a brutal economic depression would be guaranteed. Unfortunately, as you will see later in this article, these banks did not learn anything from 2008 and are being exceedingly reckless. They are counting on the rest of us bailing them out if something goes wrong, but that might not happen next time around.
Ever since the financial crisis of 2008, our politicians have been running around proclaiming that they will not rest until they have fixed “the too big to fail problem”, but instead of fixing it those banks have rapidly gotten even larger. Just check out the following figures which come from the Los Angeles Times…
Just before the financial crisis hit, Wells Fargo & Co. had $609 billion in assets. Now it has $1.4 trillion.Bank of America Corp. had $1.7 trillion in assets. That’s up to $2.1 trillion.
And the assets of JPMorgan Chase & Co., the nation’s biggest bank, have ballooned to $2.4 trillion from $1.8 trillion.
We are witnessing a consolidation of the banking industry that is absolutely stunning. Hundreds of smaller banks have been swallowed up by these behemoths, and millions of Americans are finding that they have to deal with these banking giants whether they like it or not.
Even though all they do is move money around, these banks have become the core of our economic system, and they are growing at an astounding pace. The following numbers come from a recent CNN article…
-The assets of the six largest banks in the United States have grown by 37 percent over the past five years.
-The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and the other 6,934 banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employeescombined.
-The five largest banks account for 42 percent of all loans in the United States.
As I discussed above, without these giant banks there is no economy. We should have never, ever allowed this to happen, but now that it has happened it is imperative that the American people understand this. The power of these banks is absolutely overwhelming…
One third of all business loans this year were made by Bank of America. Wells Fargo funds nearly a quarter of all mortgage loans. And held in the vaults of JPMorgan Chase is $1.3 trillion, which is 12% of our collective cash, including the payrolls of many thousands of companies, or enough to buy 47,636,496,885 of these NFL branded toaster ovens. Thanks for your business!
A lot of people tend to focus on many of the other threats to our economy, but the number one potential threat that our economy is facing is the potential failure of the too big to fail banks. As we saw in 2008, when they start to fail things can get really bad really fast.
And as I have written about so many times, the number one threat to the too big to fail banks is the possibility of a derivatives crisis.
Former Goldman Sachs banker and best selling author Nomi Prins recently told Greg Hunter of USAWatchdog.com that the global economy “could implode and have serious ramifications on the financial systems starting with derivatives and working on outward.” You can watch the full video of that interview right here.
And Nomi Prins is exactly right. Just like we witnessed in 2008, a derivatives panic can spiral out of control very quickly. Our big banks should have learned a lesson from 2008 and should have greatly scaled back their reckless betting.
Unfortunately, that has not happened. In fact, according to the OCC’slatest quarterly report on bank trading and derivatives activities, the big banks have become even more reckless since the last time I reported on this. The following figures reflect the new information contained in the latest OCC report…
Total Assets: $1,948,150,000,000 (just over 1.9 trillion dollars)
Total Exposure To Derivatives: $70,287,894,000,000 (more than 70 trillion dollars)
Total Assets: $1,306,258,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $58,471,038,000,000 (more than 58 trillion dollars)
Bank Of America
Total Assets: $1,458,091,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $44,543,003,000,000 (more than 44 trillion dollars)
Total Assets: $113,743,000,000 (a bit more than 113 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $42,251,600,000,000 (more than 42 trillion dollars)
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 371 times greater than their total assets.
How in the world can anyone say that Goldman Sachs is not being incredibly reckless?
And remember, the overwhelming majority of these derivatives contractsare interest rate derivatives.
Wild swings in interest rates could set off this time bomb and send our entire financial system plunging into chaos.
After climbing rapidly for a couple of months, the yield on 10 year U.S. Treasury bonds has stabilized for the moment.
But if that changes and interest rates start going up dramatically again, that is going to be a huge problem for these too big to fail banks.
And I know that a lot of you don’t have much sympathy for the big banks, but remember, if they go down we go down too.
These banks have been unbelievably reckless, but when they fail, we will all pay the price.
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years. Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream. If you want to know what things in America are going to look like in a few years read his new book The Beginning of the End.
I have closed all my bank accounts, except for one business one that I keep with a regional bank. Banks suck
Banking collapses and September…
Elul 29 occurs every seven years on the Hebrew calendar. It is a time when debts are to be forgiven and the land, in the agricultural communities of ancient Israel was to be given a rest.
Elul 29 – Sept. 17, 2001, was the beginning of the economic calamity associated with 9/11 and the lowering of interest rates by the Fed resulting in the collapse of the stock market.
Elul 29 – Sept. 29, 2008, marked the next big crash.
The next Elul 29 will be on September 13, 2015. This the eve of the Feast of Trumpets or Rosh Hashana at sundown. An unusual astronomical phenomenon, a blood red moon – or tetrad – is forecast to occur that evening, according to NASA.
(Even more unusual…A cluster of tetrads is forecast to occur in 2014 and 2015 – ALL of them on Hebrew high holidays.)
“New York’s Ground Zero actually represents more than the former financial center of the country. It represents the EXACT PLACE where America was first consecrated to God in prayer by the country’s new leaders.
In 1789, newly inaugurated President George Washington gave a prophetic warning at Federal Hall in New York City. He declared that America’s prosperity and protection were dependent upon its adherence to God.
Later, the political leaders of the young nation gathered at St. Paul’s Chapel to commit the nation’s future to God’s purposes. That chapel is located at Ground Zero and miraculously survived 9/11 virtually unscathed. But the foundation of Federal Hall was ominously cracked.”
For more information, read The Harbinger
by Jonathan Cahn
You best possible “bank” account right now is what you have in food, water, and supplies. This abnk account you can get at 24 hours, no tellers, no waiting in line, no shopping after you get your money just using everything you need right then and now. Every last bit of anyone’s NUMBERS in the bank can vanish permanently with a number of reasons. Vanish and gone left with nothing. Tangible usable goods that you can put your hands on immediately. 🙂
BI, good afternoon, sir, and once again you are spot on in your analysis. I’ve had that type of “bank” since the 1970s and it has NEVER let me down. Since March this year, my company has been doing direct deposit on everyone’s checks. Surprisingly, no problems with that at this time. But the first time I have any major trouble with it, my money will come out. I don’t have all my money in it anyway. I’ve got 75% of it at home in a personal safe; ‘private banking’. I use cash for all of my preps. As far as loans or any other credit are concerned, I don’t play the credit game, period. I am literally debt-free. You’d be surprised how much you can accomplish on prepping when you’re debt-free.
Congratulations on your debt free life..
We foolishly believed back then in the American dream and bought a home for us and our 3 young kids..we worked our asses off..I worked from 4 am til 11pm(2 jobs) as a chef to save and have a down payment for the mortgage..we bought and now 18 years later are at less the position we were before we bought a home..barely making ends meet,and we never borrowed against the equity for stupid purchases..
The entire system is rigged against us all who actually work..read the wizard of oz..it’s all about the banks and their predatory lending..they stole literally thousands of homes and farms and now run the frigging world..and continue their pillage worldwide..financing wars and turmoil for profit..all on our sweat equity and taxation.
I am desperately searching for a way out of this..it is not going to end well for any of us with the entire system geared with its technology and enforcement agencies multiplying by the thousands..
We are in the last days of an empire declining and the populace are in the crosshairs at every angle.
Stay true to your course.
and may all the bankers hang along with the politicians who so well enabled them through bribery and coercion.
and may God bless the rest us all in the coming days..
God has condemned usury.
If thou lend money to any of my people that is poor, that dwelleth with thee, thou shalt not be hard upon them as an extortioner, nor oppress them with usuries.—Exodus 22:25
If thy brother be impoverished, and weak of hand, and thou receive him as a stranger and sojourner, and he live with thee, Take not usury of him nor more than thou gavest: fear thy God, that thy brother may live with thee. Thou shalt not give him thy money upon usury, nor exact of him any increase of fruits.—Leviticus 25:35-37
Thou shalt not lend to thy brother money to usury, nor corn, nor any other thing: But to the stranger. To thy brother thou shalt lend that which he wanteth, without usury: that the Lord thy God may bless thee in all thy works in the land, which thou shalt go in to possess.—Deuteronomy 23:19-20
A psalm of David. Lord, who shall dwell in thy tabernacle? or who shall rest in thy holy hill? He that walketh without blemish, and worketh justice: He that speaketh truth in his heart, who hath not used deceit in his tongue: Nor hath done evil to his neighbour: nor taken up a reproach against his neighbours. In his sight the malignant is brought to nothing: but he glorifieth them that fear the Lord. He that sweareth to his neighbour, and deceiveth not; He that hath not put out his money to usury, nor taken bribes against the innocent: He that doth these things shall not be moved for ever.—Psalms 14:1-5
As I live, saith the Lord God, this parable shall be no more to you a proverb in Israel. Behold all souls are mine: as the soul of the father, so also the soul of the son is mine: the soul that sinneth, the same shall die. And if a man be just, and do judgment and justice, … Hath not lent upon usury, nor taken any increase: hath withdrawn his hand from iniquity, and hath executed true judgment between man and man: Hath walked in my commandments, and kept my judgments, to do truth: he is just, he shall surely live, saith the Lord God. Though he doth not all these things, but … That giveth upon usury, and that taketh an increase: shall such a one live? he shall not live. Seeing he hath done all these detestable things, he shall surely die, his blood shall be upon him.—Ezechiel 18:3-13
And if you love them that love you, what thanks are to you? for sinners also love those that love them. And if you do good to them who do good to you, what thanks are to you? for sinners also do this. And if you lend to them of whom you hope to receive, what thanks are to you? for sinners also lend to sinners, for to receive as much. But love ye your enemies: do good, and lend, hoping for nothing thereby: and your reward shall be great, and you shall be the sons of the Highest; for he is kind to the unthankful, and to the evil. Be ye therefore merciful, as your Father also is merciful.—Luke 6:32-36
The synagogue of Satan has weaponized money against us.
They boast that they rule over God’s objections:
“God smiled and said: ‘My sons have defeated Me, My sons have defeated Me!’ God’s sons ‘defeated him’ with their arguments. Rabbi Yehoshua was correct in his contention that a view confirmed by majority vote must be accepted, even where God Himself holds the opposite view.” (Babylonian Talmud, Tractate Bava Metzia 59b, Steinsaltz Edition [NY: Random House 1990], Vol. III p.237)
Howdy, Possee, and I’m sorry to hear about your situation. I wish you the best in trying to get out of it. I did try one time back in the late 90s to get a mortgage for a BOL about an hour’s drive from my Dad’s place in AR. It was only a single-wide with 2 storage buildings, well, septic, plenty of game, and bordered on a spring-fed creek. it was a no-go on the mortgage application although I had the total down payment and I’ve never had any repos, foreclosures, bankruptcies, etc. it was because I didn’t have any credit history on being in debt on anything else. I would’ve gone into debt for a BOL; my own piece of the american dream, but it just wasn’t meant to be. everything we’re experiencing right now I saw coming back in the Clinton era. That was my reason for wanting the BOL; NOT some house in the city. I hope all of the bankers and politicians who have brought us to this point die the most horrible deaths possible. May God have mercy on everyone who has suffered at the hands of the bankers and the government. braveheart
Nobody who took out a mortgage had a gun held to their head. They willingly signed the papers. For many they bought a $500,000 debt when all they could really afford was $50,000. Now they blame the banker? They should man up and take responsibility for their part of the deal. The problem was the credit worthiness of the Buyer was low on the list of criteria for the loan to get a government guarantee. The Clinton Adm pushed the easy credit and created the inflated house prices and now that bubble has burst. Brave heart You could own some land if you really wanted. Save 10% and pretty soon you will have enough to pay cash.
We know that you will hang tough possee, we all ate the same shit sandwich…
I take ever op that I can to preach to young folks not to follow our route…debt free, no student loan, get a trade and work it, look for a job that you can learn from the bottom up and possibly purchase down the road.
I’ll braid the rope…frankly I want them live the life of a slave with our supervision.
Interesting moderation. Posts from 8:30pm appear before a post from 7:19 pm.
This is gonna sound harsh and mean. However many who thought that they where middle class never where. All they where was deeper in debt than should have ever been humanly possible. They simply bought too much debt. They gambled that they would be able to continue working and gambled that the economy and wages would expand & increase. Those who lost homes & other possessions have really only lost the gamble. Nothing was really ever theirs. When you buy on credit until that very last payment is made your nothing more than a glorified renter. I lucked out and managed to downsize and sell a portion of my stuff and became debt free. There is a guy on the radio Dave Ramsey who gives advice on becoming debt free.
If one wants to be lean, burn more calories than one takes in. If one wants to be debt free, spend less than you earn.
My father taught me to pay myself first. I am retired now but since early adulthood I’d bank 20% into savings. That was my financial highest priority. Then I’d pay my bills. Whatever was left was my discretionary money for the month.
When the banksters introduced credit in the early 60s they started with the town doctor and the guy who owned the factory that employed many in town. Those few would go shopping and everyone else, who had the habit of paying cash, would see the plastic exchange hands and its bearer walk out with what he wanted.
Human envy being what it was, by social tiers the public was sold on “the best people have plastic. Get yours today and become a jet setter tomorrow.”
The problem then and now is that most people who have credit DON’T have the income to own the card. Sooner or later, the card owns them.
An automobile or a house is the same deal writ larger. No money down. Easy financing. You can have it RIGHT NOW. Wonderful, and they’ll have their hands around your throat forever. All perfectly legal.
My earlier adult years weren’t as much fun as they might have been. The saving grace,
that made it all worthwhile, was that I was debt free.
Possee: Some people are using cash to buy a piece of land and then visiting it or camping on it and slowly building their own home. They tend to keep them small to very small. It is a way to avoid a mortgage. And though it may take 5-10 years to eventually build all that you think you want, every year you will be living debt free.
I agree with you Brave; but I don’t think it matters. Ben B has shown he will keep the TBTF banks swimming in money even if he has to ruin the whole country, and there is no stopping it. As long as you don’t keep a lot of cash in them, I see no problem with getting money out. After all, he can print up a Trillion with a keystroke. He doesn’t need to steal your money, he’s going to steal it’s value.
Paranoid, the killing part is that I used to want that same “shit sandwich” as lastmanstanding calls it, but I couldn’t even get into the restaurant, never mind get near the sandwich. Looking back on it now, it’s like nobody wanted me to go into debt on anything. That BOL in AR was the only thing I really wanted out of life. You’re right, it really doesn’t matter now. They say every cloud has a silver lining. the silver lining for me was remaining debt-free.
Checkbook and money, nothing more. I agree with you! I have 50 years and last credit card I had with two pliers, the largest piece left with less than 5mm (was very angry).
My grandpa lost his farm and machinery during the 80’s Farm and Banking Crisis. I remember 2 things…my parents helping move his machinery to neighboring farms to hide from the bankers and my Grandpa always having a smile on his face.
Moving Machinery to hide from bankers? theft is theft. Two wrongs never make a right. You gramdaw never lost anything. As soon as he signed the morgage It was no longer his. Until you make the very last payment your nothing more than a glorified renter.
Moving Machinery to hide from bankers? theft is theft. Two wrongs never make a right. You gramdaw never lost anything. As soon as he signed the morgage It was no longer his. Until you make the very last payment your nothing more than a glorified renter.
Good article today on Russia Today website that says we ( the world ) is already on the gold standard. The big six banks actively drove the price of gold down today when it should have gone up based on the action of the Fed to keep pumping. It might take a couple of years, but these banks and the Fed will lose their grip on the economy and it will all be over but the dying.
BRICS, escolha a língua, venha desarmado.
@ Be informed:
I knew a group of men (6) some years ago that got together once a month to play Monopoly. All 6 showed up with their own game of Monopoly. They would open up one of the games and start playing and drinking beer. When one of the players no longer had anymore money or properties to mortgage he would borrow from the bank to stay in the game. Eventually 5 of the 6 players would be borrowing from the bank to keep playing ( and a lot of beer had also been drunk by this time). When the bank had no more money to borrow out they simply opened another Monopoly game and took the money out to keep playing.
When I asked them how they kept track of who owed what to the bank, they replied after a few beers does it really matter.
When I asked them how come they played this way, they replied so we have a reason to keep drinking beer.
When I asked them how come they drink when they play Monopoly, they replied so we can handle playing this stupid game.
And when I asked them how they knew the game was over and they had a winner, they replied, The winner is the one who can still open another beer and the game is over when none of the (6) Monopoly games banks have anymore money.
Love the story of your group of 6 men. — I think you left out the last part of the fable where as the last man was sitting there with all the money , all the property and all the utilities. He was drunk with his power and fortune. He wanted more. All the other players in the group were happy and asleep much like the modern citizen of today. He wondered how to continue the game. Then it came to him. He tore up all the ” Go to jail cards ” . Went into the other room and made billions of copies of the Monopoly money. When his friends awoke he suggested they play his new game. He called it Quantative Easing.
— Miss DeeDee
Miss DeeDee, that is a powerful analogy.
Real excellent analogy!
Now we need a spark, paper for the hills, just not appear because it is digital.
Oh, the big banks all learned something in 2008— They learned that THEY’LL GET BAILED OUT NO MATTER WHAT THEY DO, no matter how much it is.
Smaller banks being swallowed up is just like the small farmers getting swallowed up also, by corporate farms.
What good can be said of banks? Criminals in suits.
Sixpack I agree. Iceland was the only country to get it right. They let all the insolvent banks ‘fail’ and the healthy ones survive. They refused to pay the banks demands for ‘bailout”( extortion). That nation bounced back faster than any other, probably because they did not try to prop up banks that did not try to follow good business practices. The international banks that did not get bailed out, sought to block all air traffic to and from that island nation. That speaks a lot about their mindset in that situation.
If they can double in size in 5 years then they can fix their own messes without dipping into my bank account!
“If they can double in size in 5 years then they can fix their own messes without dipping into my bank account!”
I too, think they can fix their problems themselves, but why should they, they’ve bought enough governments and politicians that they don’t have to…and they know it.
Read the book and recommend it to everyone. I hope we do have until 2015 to keep prepping, but I do not count on it. If this economy has taught me one thing it is to always be prepared.
@KY Mom, Thxs, very interesting.
So we have 2 more years at least ……good so I can take a break from my prepping
KY Mom: You do understand that Prez G washington when he stated that prophetic warning was Meaning america must adhere to Christian/Jesus/ new testement/ Principals don’t you?
Prez washington was Not implying that americans stick to God worship by doing the practives of Talmudic judaisim.
In spite of so Many MSM, and reg avg folks in general that keep paroting over and over that america was Founded on or by “jewdeo-christian” principals…Thats a crock of BS. America was Founded BY and FOR and OF a Vast Majority of 100% White European, Mostly, Christians. Founded On and BY the principals Of Christianity as spoken of in the New testement Gospels.
Am not sure exact era or dates that phony “jewdeo-christian” nonsense started ro get promoted. But That is as fake and phony as so many today calling america a “Democracy” when its Always been a Republic since 1776 or shortly after, like 1789.
Its Never been a democracy, and its never been any type jewdeo anything. I mention this as so many folks today are deluded into belief that somehow, Practicing White Christian Europeans who came to found and invent and Build, a new nation called america would even consider building it upon Talmudic Judiac teachings and Principals!
Christianity does not mix with talmudic judaisim any more than christianity can be mixed with Islamic religion.
They both, islam and judaisim are 100% incompatible with christianity.
Haveing said all that. I do believe that the massive changes we have seen in not just our Fed Govnt aperatus, but especially within our Fed and many State Court systems.
Are a Direct cause of such a vast majority of the leagle system, lawyers, prosecutors, and Mainly Judges right up to the US supreme court, being of that Talmudic religious system.
And it is logical to assume that while many of us concerned americans wonder aloud, “How can our courts and Judges make such totally unconst decisions”? etc etc..
Well when one considers that to those adherents of the Talmudic Judiac belief system, folks usualy refered to as Jewish, believe that Their Talmudic Judiac Laws and Practices etc Are the Absolute Highest Laws of All other laws worldwide. That Their Talmud stands Higher in place than ANY nations constitutions, BOR’s, human right councils, state and fed law systems, city laws, county laws, in Other words They believe Their Talmudic Juduac religion is ABOVE All other Man made Laws Period.
It is logical after one learns Whats contained in that Talmud system, what it Teaches its followers, that the Real Answer to How can such stupid, wrong headed, unconst decisions continue to be handed down from most every american court, even the US Supreme ct(3 of the 9 justices are jewish, one more a likly crypto-jew) Is.
They are useing Their Talmudic beleifs to take Priority Over usa laws and us const principals in favor of Their talmudic Higher law standards etc.
US Supreme Ruth Bader Ginsburg, gave a Keynote speech at the Grad class at Harvard(think it was there) a couple yrs ago.
A woman grad Law student asked during Q&A session after speech….She asked Ruth Bader “Do the us supreme justices ever use any OTHER than the us const etc in deciding “tough” issues or cases?”
Ruth Bader Ginsburg Gleefully answeres a Huge YES! Ruth told that woman student, “Yes we do, and one thing I am several other us supreme judges Turn to OFTEN to decide a case is the Jewish Babylonian Talmud!”
Then not long ago, 6 months perhaps, Justice Clarence Thomas also Admited to a news tv reporter or newspaper writers, that he too Takes or Took classes in Talmud LAW!
and quite OFTEN uses Talmud Law same as Ginsburg does!
Hes the Black Catholic Justice, conservative also! Yet Turns to the Talmud Laws for case decisions!
Isn’t That violating the 1st ammendt?…Why not keep useing the Holy Bible for certain difficult cases? it IS what america was Founded on. Yet they turn to babylonian talmud judaisim instead?
I do NOT think it far fetched to believe that Far more Judges are turning to their Talmud, their Highest Law in entire Universe above ALL other laws worldwide. In case decisions. It sure would answer many questions so many folks has. Like besides so many UN const laws or decisions, why do most always a jewish man after hes charged with a seious Crime, be allowed to drop the charges and he flees to Israel to reside?
Maybe due to talmudic Law that says NO jews can charge or convict other jews for a crime against a Gentile.
One thing IS Certain. NO readers here can Deny or argue that the Courts and Judges nationwide in the usa for at least 60 yrs now has turned out Many Wrong and UN const case decisions, and made Law From their “Benches” which also Violates the Seperation of Powers in the us const.
Unless a better theory is put forth, I think a vast majority of jewish talmudic judges, across america top to bottom, are makeing Use of their Talmud Law beliefs to drastically Alter americas orig Leagle systems based on us const and bor documents etc.
This is Totally Unacceptable. Especially in a Nation founded on and Still inhabited by an Overwhelming percentage of the pop being christian. While Talmudic make up Less than TWO percent total population. Plus Many of That 2% do not obey the talmud, or so they claim.
America is/has been overtaken by Talmudic Judges running our courts and entire DOJ systems.
Noahide Law systems cannot be long in comming at this point. Then All usa folks Will wake up Fast!
Missed a joke:
“Hitler was a bastard, a Jew left alive!”
It was NOT us that opened this Pandora’s box
to allow the big banks to have total control
Same thing happened during the “Roaring Twenties”
causing the great depression and which brought
about the introduction of the Glass-Steagall act
which ended their rampant bank adventurism.
Along came 1999 and Bill Clinton in collusion
with republican Phil Gramm put an end to this
tether on the banks hanky-panky.
I’m very weary of Americans being blamed for
what a democratic administration put us into
and then telling us because it is our fault,
we have to pay for it.
You are absolutely right. Glass-Steagall was the dagger to the heart of the USA.
Sorry I meant the repeal of that act was the dagger to the heart of the US.
When asked if he would restore Glass-Steagall Obama stated…
“Well no, the argument is not to go back to the regulatory framework of the 1930’s because as I said the financial markets have changed substantially.”
I would be remiss by not adding that Obama’s top six contributors to his campaign included guess who…..
Goldman-Sachs, JP Morgan, and of course Citi-Group.
Good evening, Granny and OutWest. We the people are not the ones ruining this country. It’s the banksters and the government that are destroying it. 2nd American Revolution is coming. braveheart
I would like to add the top 5 contributors to the Romney campaign were Goldman Sachs, BOA, Morgan Stanley, chase, wells fargo, interestingly enough the 6 th was the Susie investment group based in Switzerland, it has been charged with everything from money laundering, abetting tax evaders, conspiracy and fraud in the subprime mortgage scandals, violations of the Securities Exchange Act of 1934, and the list just goes on and on with those scumbags.
US Money Laundering Fees
HSBC Holdings PLC $1.92 Bil
ING Bank NV $619 Mil
ABN AMRO/RBS PLC $580 Mil
Lloyds TSB Group PLC $567 Mil
Credit Suisse $536 Mil
Barclays $524 Mil
Standard Chartered PLC $340 Mil
The six biggest U.S. banks, have piled up $103 billion in legal costs since the financial crisis, more than all dividends paid to shareholders in the past five years.
The roar of the Twenties was mainly all the Federal gunfire fatally wounding Lady Liberty’s Interstate Commerce while enforcing the Republican alcohol Prohibition of 1919. Those rent seeking bastards are no slouches at raping the formerly virginal Miss America Free Market along with Crony Capitalists, Bastard Bankers, War Mongerers, and Unionist Gangbangers.
Outlaw: Serious Question: How will you deal with a cashless society?
It is very difficult. I am self-employed, so all the income goes through the business bank account. I pull out a cash draw of all “excess” money(i.e. anything not needed to cover operating expenses)every month and all personal expenses are paid cash.
I can say, if I were not self-employed with an LLC, it would be impossible.
Good evening, Outlaw. I sympathize with your plight and I really mean it. I’m willing to forget about the posts in the last article. We’re all equally vulnerable to what the scum have been doing to our economy. braveheart
Its a truce BH. I know I probably come across as a dickhead, but it is really not my intention to alienate or in-fight w/ like minds. I just get so pissed w/ everything thats going on. I make the statements to you that I do as constructive criticism. I know you didn’t ask for it, and I will cease.
Outlaw, your apology is accepted. I never come here looking for trouble with preppers or any other like-minded people. I didn’t recognize your statements as constructive criticism; that’s my mistake. I can always accept constructive criticism and I understand there may be some disagreements with other preppers on occasion on one thing or another. i’m always willing to listen and learn something new about survival-related subjects. that’s what this site is all about. I’ll stand up for Mac and all the other good people on this site when the trolls like ncjoe, finx, eisen, urban dog, etc. come along and start their crap. That will not change. Outlaw, you’re Ok in my book. braveheart
Outlaw we do the same thing. but alot of our sales are strickly the folding kind so just folder up put in pocket and i didnt see a thing. we are now moving to a no checks just folding kind. so let er rip. Time for the afternoon single malt, maybe a big fattie to go with it. on a lighter note i was at the bank today waiting in line and i heard the woman ahead of me (small town bank everyone knows you type) tell the teller about her husband trying to get the raccoons out of the house, he shot the lantern off the porch( same neighbor i told how to get the raccoons out of his house but he didnt follow the plan) his wife said that i was the crazy s.o.b. that put him up to it. she doesnt know me so i heard all about the circus at their house when this was going on. so now i gotta watch where i go cause maybe the circus may follow me wildman out
We get some folding kind of sales, but not nearly enough. Like yours, mine get folded and put away, as if never they never happened at all. Take a puff off that fattie for me.
Honestly, you did not convince me, the text seems to me whining, or you are a man or not.
Ever heard of “barter”?
Barter is the exchange of things, if you have an ear of corn exchange for something that vested interest, 200 grams of lentils for example.
Do we need to teach basic economics to these people again?
There is a cruel way to practice, you give a shot in the face and he goes, but there is another kind of economy, is one that was isada in Iraq, Afghanistan, Libya etc.. .
Yes Proftel, I barter when practical, and look forward to doing more so. At this point barter is not a widely practiced tradition in our country yet. Most of my clients tend to be in the upper middle-class and don’t produce much of anything I would need anyway, except FRN’s, thanks for the input though.
Unfortunately, most bartering in America, believe it or not, went the way of the dinosaurs a long time ago.
Nowadays, bartering is currently done at garage sales (this is when we sell things out of our garages for a day or two), flea markets (selling usually secondary, not needed or wanted stuff to make a few bucks at a bigger gathering of people), farmers’ markets (but not always), gun shows, and to buy a car.
We honestly do not have the society makeup that you find where you live. Here, most of the times, you go into a store and they tell you what you will pay. If a store such as a furniture store does barter with you, you already know the price is seriously jacked up…same as a car. A car salesman typically makes $2000-3000 commission off the sale of a single car (I looked at one of their sheets one time upside down across the table).
We definitely need to go back to bartering for more things.
But again … here is “bartering” a lot of times with trading lower money with goods…not trading goods with goods.
“Give me control of a nation’s currency, and I care not who writes it’s laws” – Mayer Amshel Rothschild
And, this is how the too collosal to collapse creatures, and thier parasitic masters will get over, yet again…
That article says it all. It explains in layman terms what is going to happen and why and who is to blame.
I wish Mac would pick up an article like that to lay it out in front of all of us. We would not have to be left guessing what we are all preparing for.
Thanks for your post.
Another good explanation of why we WILL be going into Syria can be found at Youtube : Your 72 hour Red Flag Warning. It will make sense if you have been following the international news sources for the past few years. Many of you will already have this figured out but it helps to hear somebody else say it too.
This is why I prepare (food-water-ammo) for what’s coming. I’ve also decided to drop all of my business contractual obligations i.e. debt, for next year. It’s now. pay as you go. If I need something I buy it with cash. It’s going to get really ugly and scary when all this hits the fan.
This blowup scenario has the potential to halt global economy and commerce.
Good move Rodster. When you say business contractual obligations are you speaking of credit? I am operating pay as you go now also. I pay as I go, no credit for me. However I am in the service industry and I bill 30 days in arrears with a 10 day net. I am not liking this much and have been on edge about it all year. However we provide a weekly service, and it is not practical to have the clients pay at time of service. Not sure how clients will react to paying up front either. It really has me in a bind.
Phone book advertising and cell phones are being replaced by Google advertising and pay as you go phones. I will sat 13K next year.
I meant to say SAVE 13K.
Outlaw I know what you mean I got 10 day due on my invoices with the exception on installing new equipment. Then its a deposit up front of 75 percent upon delivery of equipment and remainder upon completion. I’ve had too many folks stringing me along recently.
I hear ya POP, luckily I have never had a problem in the past with the way we bill. However, this year, I have had clients who have paid on time, every time, on a monthly basis for over five years, who are now straggling. Combine that with the chance of collapse and it just aint good.
Have any noticed the major chain stores–I mean like Lowes- not having an item or only one??
It’s like chinamart with their sagging inventory.
If THAT doesn’t raise a flag–what will??
The grocery store shelves here in NC have a very limited selection on just about anything. In August, Aldi did not have any salt. Last month the canned goods were a 10th of what was available in August and the store was rearraged.
Outlaw, there’s one area where you and I definitely have some common ground. No credit for me either. braveheart
We probably have a lot more common ground than just that BH. In fact I am sure of it. I am just not as vocal as you are about it… yet.
Outlaw, on occasion I do get a little more vocal than I should, but just like you, I’m pissed off about everything that’s happening, and I do mean EVERYTHING. braveheart
I’m self employed as well. I net 30 too but very rarely do I get it.
What I’ve found is the larger the company, the longer they pay.
I called accounts payable of a client who was 45 days late on a contractual partial payment for 50% job completed and the woman told me its end of the month plus 90!!!
I called my contact and said I’m pulling off the job till I’m paid. Had a check in my hands by the days end.
I also love the old “we haven’t received an invoice yet”.
I am not sure what service you offer, but, what if you gave a discount for advance payment to entice people to pay up front? People find ANY discount attractive, no matter how small, and you would offset the small loss of money with certainty that you got paid. Your thoughts?
Good advice GOP. I make that offer at times, some take me up on it. We do have a few pre-pay’s also. There are just alot of people that seem to want to hold on to the FRN’s as long as possible. Can’t say I blame ’em. Thansk for input.
Rodster I am with you (food-water-ammo)all this shit about buying gold and silver will not help anyone when this shit falls apart what are they going to do with it
no one is going to trade anyone a can of beans for it
it will be worthless
Yeah I tend to agree that most might find gold and silver worthless in a SHTF scenario. Bartering for food and and the like would be easier IMO. I would never discourage someone from buying PM that the shit that is coming our way is mega serious.
Rodster, you’re doing one of the best things anyone can do for themselves by getting out of debt as fast as you can. I’ve been debt-free for my whole life. I’ve even bought vehicles for cash. You can take a 10, 15, 20-year-old vehicle and extend the life of that same vehicle for as long as necessary. I’ve done that for myself ever since I was 16. it was also the only option I ever had, anyway. I don’t have the money to give up for the latest technology in big payments, full-coverage insurance, high interest rates, etc. I’ve always paid cash for something and improvised with it to the best of my ability. When you use credit for anything, you have to sacrifice too many other things. That’s one game I just won’t play, period. braveheart
Yeah I decided not to re-up my phonebook advertising and such. I just don’t want to be obligated to pay that if the economy crashes.
Gold and silver may still have value, if only to purchase weapons and supplies from 3rd party smugglers, if you live close enough to a border or the ocean. even if it is valueless here it may retain value in other countries.
Rodster, I hear you loud and clear. I don’t want to be obligated to anyone either. It’s funny; when I tell people I’m debt-free, they just look at me like I’ve committed a sin, crime, etc. Not everyone out here even qualifies for credit. the criteria in these credit policies was hard enough back when the economy was good, but it’s gotten worse with the economy dying. I’ve noticed even people with the highest credit scores around having all kinds of trouble trying to get anything. They ought to do like us and just say to hell with credit forever. braveheart
Credit Cards can be a Good thing. As long as You can control Yourself with spending habits and Pay the card in FULL when due.
In todays world, unless you have a credit card or can qualify for a loan or credit instantly. What will happen if for example your car transmission goes out?
Most folks can’t reach in their pocket to pull out $2500-3000 to fix a tranny. Or Worse yet car engine blows. Now its double a tranny cost.
To buy a new or slightly Used low mileage car with zero intrest rates so many dealers offer, why is That not good?
Even when you Have enough Cash to buy a new car and pay cash. If you can pay it off for 60 months with NO intrest…Then you can hang on to all that cash for unexpected emergency or unexpected great deal on something. Or keep the cash so no matter what you Can pay the car off no problem.
I think many folks are Unable to Disipline themselves when it comes to money, go overboard on credit and get in trouble…Then they always bash credit and credit cards or car loans.
Braveheart a simple solution for You to get credit started so you Can buy a nice crib and stop wasteing monthly Rent paymnts while not owning the rental unit.
Is try to find a relative or friend etc that can ADD You to Their existing credit card. They can even set a LOW spend limit of a couple hundred dollars per card if it makes them more at ease to trust You.
Then you use that card for gasoline etc weekly and Pay bill in Full each month to Establish good paymnt history.
Then within Two years Or Less, you will begin to recieve credit card offers for your Own card.
Credits not a bad thing. Today its near imposible to get a good car or start a buisness or buy a home without it.
I think its still better to own a home than pay anothers home off with rent paymnts and They get the equity that builds up.
Cash is good. Untill you do not have enough to Fix a tranny eh! Then What? Walk everywheres? While singing to self that tune of Cash is best creidts bad? Not to me.
It is interesting that the biggest banks have $14T in assets, that is less than the debt.
And we wonder what is going to happen relatively soon.
Will all the loans go away if these banks fail? Now that would stimulate the economy!!!
Sure, Billybobaz, Sure
Billybobaz: Heres a way to make loans go away. Find a very wealthy type guy like Trump. Or a few rich guys like Donald Trump, convince them to Buy as Many Billboards ads as possible in good freeway locations where tons of folks will see the ad.
Just make the Huge Billboard ad look similar to this:
Have several Butt Ugly Khazar jews like Soros sitting at a table with their usual normal beedy black evil eyes Stareing out at folks, with a sly smile too.
And have standing Behind Soros et al, with a Hand on soros et al shoulders and also stareing out with Same beedy black evil eyes, several Rabbis with way Too small black wide brim hats, long beards, and Long black funeral coats attire.
With the Ad’s Written Caption saying something like:
“Since 1913 YOU, Mr & Mrs America Have Been Paying ALL that national Fed Govnt and Personal Intrest/USURY to People Like THESE GUYS!”
“Mr & Mrs Americans, WHY do You think Thats a Good idea?”
“When Will You join OTHER Patriotic American Folk, and put an END to it by BOOTING Out Such Slimy Swindlering, Scamming, Usury/Intrest Scarfing Banksters?”
That image= A Picture Speaks a Thousand Words. Especially when Millions of Motorists See it Daily!
PS: Once Banksters are Booted Out for Good,and ALL Forms of Intrest/Usury are Gone! Done Away with and made Illeagle for all time…Then the avg reg American Man and woman will become so Prosperous, they never again will need any Loans to buy cars or homes etc!
If there Never was a 1913 Fed Res jew banksters swindling us all with Usury/Intrest as a Nation and individually, We Boomers And Our Parents would have all or most all become Very much More prosperous and likly we’d all be rich by now. Then every generation after us would do Better than we did(like it always used to be in usa) and america would be an entire nation of Prosperity like most only Dream of!
Too bad our grandparents and parents Failed to Listen to the Many voices attempting to Wise em Up about usury/intrest and How its used by jewish/Khazar Banksters to Destroy nations entirely eh. NOw its all on the backs of the boomers and Their kids to get the job done.
What Job one may ask? the Job of BOOT them Swindlers and Nation Wreckers OUT! ASAP! OUT!
pss: This time around none of Them can whine or cry that “OyVeh but Where shall we go to when we are a people with No Nation to call Home”?…Yes yes you Poor little Always a Victim peoples!…Hark! but Now Yes they Do have a nation to call home!….Let them All Move Out to israel!
After all, all folks in every nation ever heard for 19 Centuries from those “always a victim” people was “Next year in Jersulem! If Only we Had a nation to call Home”
Well since 1948 They have had israel to call Home right?…So today, 65+yrs since 1948…Why after whineing and crying for 1900 yrs to get their “home” country, are they Still Here in usa?
The main answer for those who do not yet know it. Because they are a Parasitic Peoples, and as we all Know…Parasites cannot live nor exist upon each other. Parasites Always need a Host people/Bodys, and that Host Nation from which to Parasite off of.
Now you Know the answer to the second question of “why do those folks keep being Booted Out from Every nation they ever got Hosted by?” Except for America….YET!
This is it. Just a matter of time. We can ALL at least agree that the derivatives are out of control! Tick tock.
The TITANIC was too big to fail as well.
Does anybody understand or have a grasp on this shit? I’m lost. I’ve heard these terms before laced with numbers 14 long with 4 commas. Why are we supposed to get up in arms about GoldmanSachs being over exposed by 371%. What the hell does that have to do with us? Really think about it, just what the hell can we do about it? What could we do about it? Maybe write our Congressperson? Like that is going to do anything. Politicians are on bed with these fucks, what are they going to do about it? Sounds like if their situation is that bad off maybe they ought to BK. (Bankrupt) Maybe the next thing is let this entire thing implode and let things shake out to a natural level. I’m getting sick and tired of hearing about all of this crap.
Im w/ ya Hammer. As far as I can see it does not affect me at all. Other than cash being gone, and we prep for that anyway. Fuck ’em, let ’em burn. Ya its gonna be hard, but its this or EMP, or WW3, or, or, or. Aint a damn thing we can do about it except prep,
Outlaw and Hammerun, I agree. Let these scumsucking bankers and politicians end up broke and homeless like they’ve done to countless others. Let those f#$%ers get a taste of REAL LIFE for a change.
“GoldmanSachs being over exposed by 371%”
That could kill the dollar, and money in your wallet would just be more toilet paper.
Why Cannot the US Treasury Dept, boot Out banksters, and print the dollars. And then issue dollars withOUT Usuary intrest fees?….Prez Lincoln Did Greenbacks to bypass banksters. Germany booted banksters out in 1933-34, and issued german Marks Intrest Free too. In just UNDER 5 yrs time germans most all went back to good pay jobs etc.
From 35% unemplyoyment back to Less than 2% unemployed in 4 yrs. Good paying jobs too. All done withOUT zio jew banksters, and ZERO usury intrest charges.
Why should OUR fed govnt and state govnt’s and All citizens in usa keep paying swindlering jew banksters $2 Billion Per Day Just for Intrest, and that amount is Just what Fed Govnt Pays intrest to bankster shysters.
Why should taxpayers have to pay TWO Billion Per day just for fed govnt intrest fees,,PLUS their Own personal mortgage and school loans, car laons, credit card fees etc?
After 100 yrs they got away with this swindle…I rather see White Irish guys take over banks away from them scamming jewish banksters. If we are going to keep paying $2 billion per day intrest…I want white irish/german guys to get it instead.
Boot them Out issue cash intrest free at all levels like germans did. Problem solved. What are the jew bankster swindlers going to do? Cry and whine and call us antisemities? Go ahead on I care Not what they call me.
Hammerrun & Outlaw: This Is what it Has to do with You guys, and ALL of Us americans…Do you see what is happening to euro nations? Like Greace? and Cyprus? and othrs gradually now?
All that so called “National Debt” at least 85% of it is supposedly “Owed” to swindler Banksters who as we all know print from Thin air and taxpayers even Pays for the ink and paper!….So only as long as this “Illusion” that somehow we american citizens and taxpayers “owes” it and “Must Repay” it all remains the belief…Can those swindlering Khazar banksters “collect” it.
And that “collection process” is always Offset by banksters claims to Real assets such as usa Lands, Farms, Homes ets etc.
But as Long as 1/2 or More of said taxpayer usa citizens Keep every Firearm we now have, the swindlering khazar banksters can NEVER collect that Fake phony “debt”.
And They Know it!….And I do believe that although now, today “Most” folks are still asleep on these issues, once said khazar swindlers begin to Reposess or Take any major lands or resources or farms and homes etc…Then even the soundest sleepers amoung Us shall awaken and do so Fast.
And will awaken with a Massive vengence against those khazar swindler banksters and all of their “enablers” and assisters, that it shall be a sight to see indeed.
For what shall those khazar swindlers say or do once 100+ Million Americans with Fire in Our eyes, stare back at Their Beedy Black Evil rat eyes, and tell them in a collective huge voice…NO! We shall Never repay what we do NOT owe! and NO! You shall Never Take Our land or farm or home etc…Rather, All of You Khazar swindlers and Imposters will Go! and go Now and go Fast, for We shall from Now on let Our Rifles do Our talking from This Point Foreward.
Re: “Approximately 1,400 smaller banks have disappeared over the past five years.”
Here is a list of those smaller banks that have closed over the past five years. This list continues to grow.
Failed Bank List
My local “regional” bank is dumping my home town come November 15, a few years after they gobbled up the “real” local bank, and they expect me to drive twenty plus miles one way to the next major city in order to conduct business. They are fooling no one. they want us at their mercy in concentrated masses hooked on plastic they can kill with the flick of a switch.
Thanks Madison Avenue!
Bug off Nephilim! You are making all of us Pissed off and Mad about it!
Hah hah.. .look at your advertising banner… go figure.. .PNC Bank.com virtual wallet… on the ad banner…HA F’n Ha! Mac, I know it’s not your fault… we’ve ALL been ScrewGoogled!
Sorry, it’s really not that funny…just ironic…we are all having our brains picked clean every time we engage the internet.
Let ’em fail. I’m ready.
The Mark of the Beast, an RFID chip, will be legislated into existence as of 10/1/13 with the “Affordable Health Care Act”– aka obamacare– and is described IN the Act as a “Class 2 Implantable Medical Device” (I forget the page number, sorry).
The Book of Revelation blatantly describes this Mark as that which people took in order to access food for their families.
As Maria and John were told, there will likely be a worldwide currency collapse, which is the Antichrist’s plan to get people to take the chip, which, once taken, will immediately disable your free will, you will hear voices, you will have no ability NOT to listen or obey those voices since this chip obliterates your free will, and in the chip are diseases designed to kill hundreds and hundreds of millions of people.
As Dr. Peck wrote in his book on evil, “It is no secret that evil is live spelled backwards.”
Amen, Dr. Peck!
Currency collapse and the man-made famine soon to be experienced worldwide (it is the next Seal in the Book of Revelation that will be opened after World War III) will be attempts to get all of us in every country to take the Mark. DO NOT TAKE THE MARK OF THE BEAST!
How do you prepare for a currency collapse?
Stock up water and non-perishable food.
THEN read my last post on the article about the pandemic virus to learn how to protect yourself and your family.
– The Lone Ranger
Read Rev. 13 No mark of the beast until we’ve all been presented with a worship-the-image-or-die scenario. Then after they’ve killed a bunch of folks they will try to force the mark on those who’ve already worshiped the image. Don’t worship any image and you’ll be just fine.
That said, on the chance that you can avoid being rounded up and forced into the first scenario, you’d better be prepped for either 3.5 to 7 years.
As an Arabic speaker, I have to agree with Walid Shoebat that the mark of the beast is simply becoming a muslim.
What the Hell? This article calls the big banks actions reckless. If an individual was this reckless in his own financial world he would be put in prison and the key would be thrown away.
If we could borrow money at the window of the non-federal reserve for almost nothing and invest it in the “soaring stock market” and all the other wheeling dealing these bastards are knee deep in we would be worth zillions too.
They are scrambling to figure out how to get themselves out of the mess they have created. Next to go will be a percentage of your bank account (Cyprus); somehow obligating your retirement account to help bail them out, and any other scam they think us Americans will put up with.
I say let them fail. If you go back through history clear to the time of Jesus the moneychangers have sucked the life out of every country they have been allowed to reside in, including America.
During the truckers demonstration we should also withdraw our funds out of the banks. That is one of the only things these “evil, bloodsucking scum” will take note of.
It is going to be interesting to see how they “sell” us Americans on their “too big to fail”. There is not enough paper on earth for the unlawful federal reserve to print their way out of the horrific mess their greed has caused.
Make no mistake about it the non federal reserve and our non representatives in DC dance to the tune of the banks listed in the above article.
Derivatives should be ILLEGAL for all banks. You know, there is one major bank you never hear about in these kinds of articles–US Bank. They seem to pretty much stay out of the scandals arena. I wonder why that is.
Interesting point. I always look for US Bank when it comes to scandals or derivatives, but they are never mentioned.
US Bank is where I bank at. I’m not changing. But I am going to get more silver and do some more storage stuff.
Granny, I agree. let the bastards fail and fail big time.
Good to see your voice here today. Hope all is well with you. Be sure to read the Dave Hodges report that JustME put up on that post. It will take all the guess work out of what is happening. I loved that article. Do you read Hodges reports?
Hi Granny. Yes, I do read Dave Hodges on occasion. he’s a real straight-shooter. You might want to try canadafreepress.com, chuckbaldwinlive.com, heartlansusa.com, and calltodecision.com. You’ll find those sites very interesting. braveheart
We need a giggle!
This is off topic but funny.
My wife just called and said a friend of ours got back from Afghanistan. He told her that the teliboners were confused about the new RPG net armor on the HUMMVs, they thought it was some kind of force field. So their solution was to take black tape and cover the tip of the RPG in hopes of defeating it.
No tech meets high tech.. Go figure!
How can they fail when they are in CONTROL!
bbrrrp…THANK YOU for the link.
Collapse is a mathematical certainty.
How they will cover their asses about it is what’s being schemed-out by the oligarch class. They need something drastic enough to cover their deliberate causing of the planned collapse.
I suspect it will be tied to some “natural disaster”. They were stymied when the hurricane season failed to produce an opportunity. The next chance will present itself between late October and January of next year (just a wild guess).
Here’s their possible cover: https://www.youtube.com/watch?v=DKFXcaR5UaM
All these “sattelite” launches you’re hearing about……for a reason not yet leaked?
Yeah, I’m suspect and cynical.
I agree. Let them all fail. They brought this on themselves. They deserve to fail and they should all be tared and feathered.
And then hung by their balls!
wrong — they will have to be hung by their feet or neck.
They have neither scruples, nor balls.
The feet. Easier to get the hide off thata way.
Good point. Let them be hung by their feet. And then lets play pinata. OutWest gets first swing.
OutWest, I don’t even care HOW they pay the price, just as long as they’re held accountable.
I have 50-rnds of .308 that I say are worth One Trillion us dollars each. I am willing to Donate all 50rnds as long as they will be ONLY used to Pay Back americas so called multi-trillion debt owed to the bankster swidnlers.
@ Them Guys
Holy head-spin Batman, you said something I can agree with.
wrong- “They didn’t brought this on themselves”. If “by them” you are referring to the CEOs of these corrupt entities, you need to remember the scums made billions for themselves but destroyed many lives. As far hung them by their ……..please take a number.
It seems TPTB are trying like hell to consolidate all finances and power in the hands of a few. Only problem is that when this economic engine seizes up; it will take not only this country but that rest of the entire world with it. Not a question of if its going to happen; its just a question of when. IMHO look for TOTAL collapse by 2016.
Only an idiot doesn’t learn from their mistakes. Duh WTF do they care? They know the Feds will throw them as many lifelines they need,after all they are in cahoots with each other. I am starting an ammo bank since it will be the new currency. Maybe the Feds will bail me out too if I use it all up on target shooting??? BE SAFE OUT THERE
Apparently, they would only consider bailing you out of you used up your resources hunting unicorns.
In 1983 or so, Time Magazine had on its Cover of a weekly issue, a full cover sized NEW replacement for the us dollars. It was touted to be a One World Currency and it was called the “Phoenix”. There was a very long article related to that cover photo inside that issue of Time magaz.
The Date they said it is Scheduled to Begin as a NWO currency for all people worldwide was 2018.
Also from other sources, the united nations own agreed on plans for the NWO was Pushed Up a couple times so far, and the Last time the NWO date was extended it was extended to 2020.
I was watching the US senate on Live CSPAN TV a few yrs ago, 5yrs or more ago, and just happened to tune in at same moment when a New inexperienced us senator was standing in front of the main comittes table and he was asking senator Levin, D-mich, some question I was not able to hear good enough. BUT I did hear him mention the “UN” Plans. And I definatly did hear sen Levins answer to him.
Sen Levin was faceing his microphone close and he was irked at the new senators questions, pestering levin for an answer. Levin was visually ticked off and told the senator something like “No! I told you already so Pay atten! One more time and You better Listen as I will not repeat it again!…They(the united nations) have Already advanced The Date at least Two times now, and the Last time they said the Year 2020 and are Not going to extend that date any farther no matter What!.
I have no idea what actual question that new senator was asking as he stood too far from Levins mic. But Levins voice was Loud and clear. And it was Obviously speaking of the final Date set for the UN run NWO plans to be implemented. I have also Read of this 2020 final date at several reputable websites articles.
So if new dollar replacement money is to be the “Pheonix” dollars, in 2018, then a date of 2020 for a NWO done deal sounds plausible no?
Pheonix replacement dollar or Not. No matter Whats done they are not going to simply Crash it all down and walk away. They Will have a new system Ready to go and to be put into Place Imeadiatly if not sooner.
I never understand why so many folks seems to believe the us dollar will Crash, then next every nation in world will also crash, and then..Thats it? No next phase? Just dollars end, all peoples everywheres and nations collapse and nobody and nothing replaces it all?
That makes zero sense. They beem working at it 300+ yrs and plan to walk away? No Not very likely.
regardless What is to replace us dollars, something will. And it Wont be prepper patriots emerging from hidy hole caves to “rebuild” the usa again. Whatever They got planned is whats next. Why would They give it all Up at this advanced point? Makes zero sense.
@ Them Guys
What I suspect they’ll do is go to a strictly “credit” based system. I call the “Star Trek Universal Utopia” system.
That way the eventual application of human RFID chips will have purpose other than ObamaCare.
Calif Resident: Yes I agree. And to “sell” it to the Public fool idiots as a great idea to end cash they will say cashless means zero dope deals, zero stolen harly/cars sold for cash, zero illeagle gun sales for cash.
Plus to promote rfid or chip implant ID, they will say it cant be lost or stolen if inside your hand or forehead.
Dumbed down sheeps wil Leap for Joy after hearing these great ideas. They may evne use cashless with credit or EBT type card system at first…Then once majoritys onboard, have msm tv news repeat often that such cards are too risky and hackers steal numbers etc…THEN they will switch to Implant rfid ID to access entire systems.
Whatever its going to end up as it will mean All who reject that system will end up a Vagabond at best. No matter How many preps one may store up sooner or later Property tax is due or car lic plates etc and you wont be able to access system and thats it game over.
Only salvation I see is if enough americans wise up and mass numbers folks reject it and are wiling to fight it all. Such massive numbers is whats doubtfull for now.
But more folks awaken weekly so just maybe we still have a chance to keep it at bay in the usa.
I know that if it were not for the financial collapse in ’08 I still would not know anything about finance. Now I even know what a derivative, ETF, and Fed Chairman is. I have learned what a loan modification is and was even given a second chance by one of these Banks. Remember they are only ran by humans. We all can work together to make this work or everything WILL fall apart again. I for one want to try everything I can to make it work for us all…………..
Ladies and Gents, Please do a Google search to get the name of the CEOs of these financial centers. Do you see a commonality? These are the scums who are controlling our daily lives and all of them without exceptions have blood on their hand.
James Dimon New York Greek Orthodox CEO JPMorg
Michael Corbat Connecticut Calvinist Protestant CEO Citi
Brian T. Moynihan Ohio Catholic CEO BofAmer
Lloyd Blankfein New York Jew CEO GoldSac
John G. Stumpf Minnesota Catholic CEO WelFar
James P. Gorman Melbourne, Aus Catholic CEO MorSta
Tor: Are you suggesting that these people are the ones who own these banks? They are the “front men” who get their marching orders from way higher than they are.
Indeed Pissed Off Granny. The main players are in London. They are invisible to the world but suck the blood from all of us each and every day. Try to watch Keizer Report on RT sometimes.
Check out websites like Kevin McDonald’s-Michael Hoffman’s-David Duke phd.-Brother Kapner’s et al.
These guys Name actual names, they Find what were original names prior to name changes so prevelant amoung that “Tribe” or Khazars and swindlers. And them guys print those orig names too.
When they write an article on banksters or various corp’s etc, they usually List All involved persons. Ceo’s-Boards of Directors-Huge investors-Actual Owners etc.
Some even do the Math for you and show you how High the percentages of jewish names or people are involved.
When it comes to Fed Govnt-its many agencys abc agencys-MSM-Hollywood-Newspapers and magazines-Wall street-TV news-CNBC market tv shows-and most everything that matters in society today, it all has a Vast OVER-Representation of jewish folks involved when compared to Their at most 2% of total usa population amount.
No matter what area you look into you will find way more than a 2% avg membership. Usually it avg’s between a Low of 2/3rds-65% to as High as 99% jewish.
But you must search it out at websites that do not Fear to name them as such. Sites such as wiki or any others owned or run By that groups persons is not likley to admit to these truths. Its why so many Change last Names. They desire to HIDE their involvememts.
The facts and Truths are out there you just must research it all. Too many Fear learning the truths as it upsets Their apple carts it seems. Or they are unable to admit when wrong or were Taught wrong.
Just so no one leaves here wondering here are the families that took over the money control of America in 1913:
Rothschilds of London
Israel Schiff of Italy
Kuhn & Loeb of Germany
Warbergs of Hamburg
Lehman Brothers of New York
Goldman Sachs of New York
Rockefellers of New York
These are the owners of the non federal reserve. Now do you see that there is something in common? They are international zionist jews.
No, I just saw an answerable question, and went about finding “the answer.” I am extremely enthused to look into the families you named.
1912-1913 is a critical time in my opinion. The sinking of the Titanic, the detention of the crew and family of the ship builders for months in the US. The whole ordeal was a terrible blow to human cooperation and pursuit of progress.
The launching of the Federal Reserve in 1913 was even worse. Nothing has been more damaging to voluntary association and legitimate commerce than the centralization of banking.
The conversion of national economies into Trojan horses that pillage and destroy all but the tiniest sliver of privately held wealth enrages me to no end.
Derivatives is a roulette wheel gambling with someone else’s money……..Yours!
If you can’t beat them then join them, anyone want to borrow $20.00, I will need your SSN, DL number, your facebook long in password and $200.00 of PMs for collateral. Any one want to borrow $200.00 of PM’s, I will need your SSN, DL number, your facebook long in password and the title to you F350 diesel. Anyone want to borrow an F350 diesel……..
RickInOregon, are you talking about those predatory lenders. We’ve got those scumsuckers all over where I live. They’re WORSE than the banks. they charge way more interest than the banks. There’s nothing I want or need bad enough to get a loan from them or anyone else. I’ll do without before I go into debt. braveheart
braveheart, even without your participation there’s still 330 million others that I have a chance to make a deal with.
RickIn Oregon, that’s OK. Even if I wanted it, I can’t get it anyway. people who have the power to approve and reject credit applications play too many games for me.
RickInOregon, don’t forget, if following the model, they’ll loan out the collateral you left, to several different places, several different times, while you pay back the loan. Collecting interest and profit on it all.
And nobody knows how long it will be before they fail !!!!!
let’s not forget our country has contingency plans to ‘bail in’ these banks with depositor accounts if S HTF. anyone with money in the bank is asking for it.
Dollar era drawing to its end
At the G-20 summit in St. Petersburg the discussion of U.S. aggression against Syria overshadowed the economic issues. Meanwhile, there have been certain developments in this area that are crucial for the future of the global economy. The first steps were made to rid the banking and financial system of the dictatorship of the U.S. dollar as the world reserve currency.
U.S. power is determined by two components: the dollar as the world reserve currency and the army. When the U.S. dollar becomes weaker, the army starts acting, arranging demonstrations and beneficial in the long run aggressions “oil in exchange for democracy.” There are many examples of this, especially after the collapse of the great Soviet Union, when the United States began organizing local wars and conflicts nearly every year. Syria is a good example: Obama spoke of an armed strike after he became aware of the official debt of 17 trillion dollars, and according to unofficial estimates of Californian scientists this number is much larger.
A great invention of the financiers Rothschild and Rockefeller – the U.S. Federal Reserve System (FRS) is a private company that since 1943 (adoption of the Bretton Woods system, the replacement of gold with the dollar as a reserve currency) has been dictating to the world how to live, and where and how to spend money. All international transactions are made in dollars, and the emission of national currencies is firmly tied to the amount of dollars that sovereign central banks formally purchase from the Federal Reserve. It is clear that under such circumstances it is not difficult to determine how to develop a particular economy, of course, in the interests of the United States. With this in mind, it is easy to understand the reasons behind Russia’s inability to get out of the role of the world colonial raw materials appendage that is unusual for it, in spite of all the declarations and appeals of the President of the Russian Federation Vladimir Putin.
All known attempts to get rid of the dollar leash have failed. The failed attempts included the intentions of Iran to abandon the dollar in payments for export crude oil and the organization of Petroleum Exchange in St. Petersburg designed exclusively to trade oil in rubles. The U.S. is rigidly and rigorously guarding its dollar monopoly, believing that it is better than any threats and ideology for keeping the entire world under control.
In St. Petersburg, Russia signed a series of agreements that undermine this monopoly. On the first day of the summit, Gazprom and the Chinese state oil company signed an agreement on the basic conditions of supply of gas and oil and gas development in Russia. It is imperative that the currency of the agreement is the yuan or ruble, and the price of the supplied hydrocarbons will be determined on a bilateral basis without a reference to the Anglo-Saxon index Henry Hub determined on the London Stock Exchange. This guarantees that speculative impact on the Russian economy due, for example, to shale gas supplies, will be minimized.
Another unprecedented step towards getting rid of the monopoly of the dollar is the creation of a stabilization fund of the BRICS countries and the Development Bank. Its goal, as stated by the President of the Russian Federation, is to contribute to the improvement of the financial markets after the U.S. ends the policy of quantitative stimulation. This was a diplomatic statement, but its meaning translated into vernacular formula would sound something like “get lost with your dollar.”
The initiative would create a full-fledged monetary union. The BRICS sovereign fund along with the Bank may lend money to the countries participating in the fund without the consent of the Federal Reserve. The residents of these countries represent 44 percent of the world’s population. The Bank will have the opportunity to buy securities of the Fund as well as debt securities of the participating countries. This means a sovereign issue according to the rules of today’s financial market, bypassing the Federal Reserve System. In times of an acute economic crisis launched by the U.S., the fund may take over the function of the new financial center of the world, reducing the role of the compromised dollar to zero.
President Putin has consolidated BRICS countries around Russia in order to create sovereign issue tools in addition to the Federal Reserve that did not exist since the time of the Soviet Union. These are the outlines of a future world order where there will be no place for the greedy hegemony of the U.S. and its Anglo-Saxon satellites. The U.S. authorities are unable to prevent such a development. In terms of military potential BRICS countries are as strong as the U.S. and NATO, even if we assume that they will choose a suicidal nuclear mission.
I have my own bank.Its called a liberty safe. I luv it. In another note. Hong Kong is getting ready to get kong konged! Disater upon disaster. Clamity after clamity. The book of revelation has begun.
WTH are you doing Dinty Moore? Get back in braveheart’s supper bowl where you belong!
Outlaw, i’m actually laughing now.
Good one O…
Oh yea! beef stew, chicken-n-dumplings. Good stuff. Wolf chili. The whole ten yards. Cases from Amazon. Bought a couple years ago when the local stores in the area was havin a difficult time having their shelfs stocked. I like canned goods to supplement the freeze dried.
Dinty Moore…..And your point is?
I thought at one point they were knocking good old Dinty Moore. Nothing to knock. Their factories are clean and the food some what eatable.
I’ve been eating Dinty Moore beef stew for years and years and never had any trouble. it’s also part of my food storage.
Most on here can survive and only need there funny money to get by. Dont know what will be the tipping point and realize it does not matter. All that does matter is that you make your plans and keep acquiring what you need without using credit= slavery.. Most of all do not let it all overwhelm you.You still got to keep on living just not by there rules.
two2wisper, you’re preaching to the choir with me.
Yugoslavia, Iraq, Libya, Syria, then Karabakh
The conflict in Nagorno-Karabakh started over 25 years ago. A truce has been signed, but the root cause of the conflict has not been resolved. The situation is exacerbated by the fact that it involved not only Armenia and Azerbaijan, but also other influential countries in the region, each pursuing its own goals. The United States decided to assist in the resolution of the Nagorno-Karabakh conflict.
Azerbaijan and Armenia have been conflicting over the Nagorno-Karabakh since February of 1988. It was then that the Nagorno-Karabakh Autonomous Region has decided to withdraw from the Azerbaijani SSR. In September of 1991 in the center of Stepanakert, Nagorno-Karabakh Republic (NKR) was formed. Baku considered it illegal and abolished the autonomy of Karabakh that existed in the Soviet years.
An armed conflict broke out that lasted until May of 1994 when the parties have signed a ceasefire agreement. This has led to a loss of control over Nagorno-Karabakh by Azerbaijan and, partially or completely, seven surrounding areas.
Since that time, negotiations for a peaceful settlement of the conflict have been ongoing. Azerbaijan seeks to preserve its territorial integrity and protects the interests of Armenia and Nagorno-Karabakh. However, in addition to these countries, other, more powerful forces, are taking part in the conflict, with the main ones being Russia and the United States. These players have opposing views on the resolution of the conflict.
Barack Obama believes that now it is the best time to establish peace in the region “in the compromise that was reached during the negotiations.” This message was sent to Azerbaijani President Aliyev by a new co-chair of the Minsk Group on Nagorno-Karabakh from the United States, James Warlick. Warlick is currently in Baku with a visit.
Obama stressed that he supported James Warlick. He said that his recent appointment was a strong indicator of the unique and strong commitment of the U.S. to promote a peaceful settlement of the conflict in Nagorno-Karabakh. He also believes that Warlick’s vast diplomatic experience coupled with the desire of the Government of Azerbaijan to achieve progress in the settlement will give new stimulus to the work of the co-chairs.
Obama’s message stated that the co-chairs shall conduct a direct dialogue with Armenia to find a way out of the current impasse in the negotiations. The United States along with France and Russia are co-chairs of the OSCE Minsk Group that performs mediation in the settlement of this conflict.
Political scientist Rasim Musabekov, deputy of Milli Məclis, National Assembly of Azerbaijan, and Andrey Kazantsev, director of the Institute of International Studies, MGIMO, saw two major reasons for Obama’s decisive words about the Nagorno-Karabakh conflict.
Musabekov believes that in this way the United States is signaling that they plan to divert the Russian initiative in the negotiation process. “The negotiations have been stalled for over two years, they have been almost non-existent. This situation causes concern in the United States, and the U.S. officials have repeatedly talked about this, and the Americans are even frustrated with Russia in this regard. This is understandable, because for the last five years Russia has been the main player in this process. At the initiative of the then Russian President Medvedev meetings of presidents were held, but then the progress has stalled,” Musabekov stressed.
“The United States stepped back a little and gave the first role to the Russian Federation, but there have been no specific results. It is not ruled out that the U.S. could significantly step up its role in the co-chairmanship. This may be precisely the reason behind the American president’s message, but we would be able to speak more about the reasons only on the basis of further steps of the U.S. and the new co-chair,” said Musabekov.
Kazantsev suggested that this way the United States is trying to put pressure on Armenia that last week turned its integration vector towards Russia. “I did not see anything new in Obama’s message. The U.S. position within the Minsk Group has always boiled down to a peaceful settlement and promotion of a dialogue. However, it has always remained at the level of big statements. The U.S. did not want to spend real resources on this dialogue, for example, provide financial assistance to refugees or arrange meetings. The Russian side has been always doing it. Perhaps Obama will try doing it, too,” Kazantsev said.
“The West faced an unexpected situation with Armenia. Armenian President Serzh Sargsyan outplayed everyone by deciding to enter the Customs Union. This fact has shocked the EU that was planning to sign the Association Agreement with Armenia. Now the U.S. has decided to indirectly influence the situation,” Kazantsev explained.
It would seem that the United States and Karabakh are very far apart. Why do the Americans need this unrecognized republic and stalled conflict? But things are not that simple, and in global politics a small region at the right moment can play a very important role for the global players. The United States has plans for the territory of Karabakh.
The Committee on Foreign Appropriations of the United States in July of this year approved the provision of aid to Nagorno-Karabakh in 2014. Earlier the committee suggested the government to significantly reduce the external assistance expenses in 2014. The amount of aid has been reduced for many countries, but not Nagorno-Karabakh. According to the Committee’s Executive Director Aram Hamparian, the U.S. financial aid contributes to “promoting the interests of the United States in the strategic region.”
The question arises – why are the Americans funding the Nagorno-Karabakh but have always refused to take any serious action to resolve the conflict in the region?
The answer was provided by the director of the Institute of Social and Political Studies of the Black Sea and Caspian Region Vladimir Zakharov. He believes that the U.S. is not going to settle the Nagorno-Karabakh conflict because they want to use the territory of the unrecognized republic in an attack on Iran.
“The United States cannot give up the idea of launching a war with Iran. To do that, the Americans need to have territories in close proximity to Iran reachable by the American aircraft,” said Zakharov.
Azerbaijan, according to Zakharov, is not suitable for the role of a springboard for U.S. aircraft because Tehran warned of the possibility of retaliation against the republic if it provides active military aid to the U.S.” The Americans need to keep its satellite intact. Karabakh is a great temporary strip for commencing military action,” said Zakharov.
He noted that the United States once again has a policy of double standards. It is allegedly trying to resolve the conflict in Nagorno-Karabakh, but at the same time pursues its own selfish goals. Zakharov is convinced that the “American” theme is precisely the obstacle to the resumption of the negotiation process.
His assumption is confirmed by the fact that the U.S. has requested the UN’s agreement on the deployment of U.S. peacekeepers in Nagorno-Karabakh for the second time. So far the UN has not given a positive response.
Deployment of the American peacekeepers in Nagorno-Karabakh is an integral part of the plan to invade Iran. U.S. troops withdrawn from Afghanistan will be stationed in Azerbaijan. A U.S. war with Iran could start with large-scale operations of Azerbaijan troops in Nagorno-Karabakh. After that the U.S. forces will enter the Nagorno-Karabakh with a peacekeeping mission. Then these “peacekeepers” will take part in the military campaign against Iran. No one in the United States is going to really solve the conflict in Nagorno-Karabakh, because all they need is a territory for a military base. It is a simple but at the same time cunning plan.
The problem with this article, or course, is that the journalist has confused the selfish ambitions of the administration with the will of the nation.
Now they are so “big” even the fed can’t bail them out!
The American people must demand the government print and issue money according to the constitution. The banks are at the top of the war against the American populace. ” If a nation expects to be ignorant and free in a state of civilization, it expects what never was and never will be”- Thomas Jefferson. ” There are two ways to be fooled. One is to believe what isn’t true, the other is to refuse to believe what is true”- Kierkegaard. The duty of a patriot is to protect his country from its government”- Thomas Paine. “The high office of the president has been used to foment a plot to destroy the American’s freedom and before I leave office, I must inform the citizens of this plot” – JFK, 11- 12- 63.
Students told they CANNOT pass out copies of the Constitution on Constitution Day…
Modesto Junior College in California
Free Beacon dot com
Wonder if Modesto JC would have allowed the copies of the Constitution to be passed out openly and with encouragement if the text was translated into Manderin and showing the Chinese flag in the upper left corner of the pamphlet ?
—- Miss DeeDee
Miss DeeDee, if only the cover was in Mandarin and the Chicom flag on it, I think so. The libturds in Cali are not known for having brains.
A college in commiefornia…it figures.
Russian Aircraft Carrier to Take Part in Barents Sea Drills
MOSCOW, September 20 (RIA Novosti) – Russia’s only aircraft carrier, the Admiral Kuznetsov, will take part in five-day naval exercises in the Barents Sea from Saturday until September 25, a spokesman for Russia’s Northern Fleet said Friday.
“The Admiral Kuznetsov set sail from the naval base in Severomorsk yesterday, heading toward the exercise area in the Barents Sea,” Capt. 1st Rank Vadim Serga said.
The warship was assigned to the Northern Fleet in January 1991. It is capable of carrying 26 Su-33 Flanker-D and MiG-29K Fulcrum-D carrier-based fighter jets, and 24 anti-submarine helicopters.
Large-scale drills of the Northern Fleet in the Barents Sea and on the Kola Peninsula are planned to involve some 30 warships and auxiliary vessels, up to 50 combat vehicles, about 20 aircraft and 2,500 personnel.
The exercises will involve air defense drills, submarine search-and-destroy missions, live firing drills and simulated beach assault landing, Serga said.
Russian Navy Commander Adm. Viktor Chirkov will oversee the exercises.
don’t worry about any future bail outs
WORRY about bail ins
that was the test case
numerous countries including our own have legislation
guaranteeing that is what will happen
and in other news
anyone keeping track of the super typhoon heading for Hong Kong?
wind speeds may hit 180 mph with 40 foot waves at sea
*****MERS CoV UPDATE*****
this is not good
there are very likely MANY more cases of MERS out there
than what have been officially reported
WHO: Unexplained cases of pneumonia could be MERS-CoV
when you HAVE to say your not something
it’s probably because you are that thing
Barack Obama: “We’re Not Some Banana Republic, This Is Not A Deadbeat Nation”
and nothing has changed
5 Years After the Financial Crisis, The Big Banks Are Still Committing Massive Crimes
David Irving is sentenced to three years in jail in Austria, for denying the holocaust. It is important to note that the only historical event you can be arrested for questioning is the holocaust. This is because this has been the Rothschilds greatest weapon in brainwashing YOU, THE STUPID GOY! is that the Jews are so poor and persecuted when in actual fact they control the vast majority of international finance and international corporations throughout the world.
I certainly don’t agree with prison for your thoughts but are you saying that from the 30’s to the early forties, that by the millions, the Jews were not rounded up, were not forced in to labor, were not forced into concentration camps, were not separated from their families, were not starved to death, were not gassed to death, were not shot and killed for the mere fun of it, all of their possessions were not stolen from them and that if it had not been for the United States of America and her allies, it would have continued. Is that what you are saying?
My Uncle liberated not one but two camps. It damn sure happened.
Hi Read it all:
That link is the best history lesson anyone on this site can read.
17,679 Things the Federal Government Has Done Since Sequestration
“And I know that a lot of you don’t have much sympathy for the big banks, but remember, if they go down we go down too.”
But we will go down regardless, becoming nothing more than slaves while elites count their money.
Let them fail and let Jamie Dimon and Ben Shalom Bernanke fend off hoards of desperate people outside their office and mansion.
The mantra that we can’t let them fail because the consequences would be too dire is an empty talking point.
The choice is to get this crash over with or prolong it and suffer a death by a thousand cuts.
Let them fail, there’s really not all that much to lose that won’t be lost anyway.
This drip, drip, drip of corruption and theft only drags things out.
Let Bernanke and Dimon clean their own toilets for a change.
Amen, Bk… thumbs up X 1000.
Let’s get this over with.
I’m not economics person but is this 37% growth due to real acquisitions or is it just their resources following the insane growth of the market from the funny money injections?
Imho, you’re beginning to get it, HisArmsWide.
Consider these quotes, I thought of SHTFPlan when I saw them:
“But for all the churn and apparent prosperity, somebody has a big ass loan and nothing was really added to the economy.” – Ben Jones, TheHousingBubbleblog
“As a foreign friend who moved to the USA once pointed out, in the USA you make money by “taking a cut” and not by doing anything of real value.” – In Colorado at TheHousingBubbleBlog
“as history has shown, todays sale at an inflated price is tomorrows default.” Housing Analyst @ TheHousingBubbleBlog
“Are you really that foolish to believe wages are going to double to meet grossly inflated housing prices. Of course not….. housing prices will crater 65% to meet wages….. interest rates will make it happen…… every.single.time.” Housing Analyst @ TheHousingBubbleBlog