Banks in Europe have essentially been forced at gunpoint by the politicians who regulate them to buy those worthless sovereign debt issues. Remind anybody about US banks required to make mortgage loans to democrat voters who everyone knew at the time the mortgage was issued that they would never ever be paid back? Same story, different details.
We all know that these sovereign debt issues were just as worthless as those mortgages when they were issued and will never be paid back. All it did is get the socialist regimes tons of other peoples money to spend. That makes the banking system in Europe functionally insolvent.
The solution...as dictated by the politicians is...
make 2 journal entries and you'll be solvent in the morning
...and they pray that it should prevent the financial meltdown until after the next election
Okay Mr Levin a moron?,
so we'll just forget he worked under president Ronald Reagan as one of his staffs top advisers, from there we'll rest his many other credentials.
Now think of all the morons who voted obama, how much futher up the moronic scale do you suppose they were?
I can assure you most will not make that same mistake come November.
now go have a cup of coffee and think about it. play it again, and this time listen hard.
Tea Party Patriot
Like Mark said, there should be a crime scene tape surrounding Washington, D.C. Their common thieves.
Banks forced to buy bad debt. Insurers forced to cover every medical expense. GM Bondholders stripped of their legal privilege and their bonds reduced to worthless paper. Taxpayer money squandered by the billions on "green" energy companies that turn around and donate heavily to Democrats, and then go bankrupt.
Someone needs to go to jail for all of this. At the very least, we need strong laws put in place to make certain the next time jail is impossible to avoid.
This plan is the boot on the neck of America! The left's plan to nueter
Capitalism. Ever since BO was installed they've been stepping on the gas to attain absolute power. Welcome to Zimbabwe, folks.
This is illegal. This is wrong. This is horribly ignorant with a pinch of evil.
FIRE these criminals! This is unconstitutional!
And in the name of politics and control, the repubicRATS will say or attempt to do nothing, because they are all part of the scheme
Dear God please help us. We really need you.
"If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then will I hear from heaven and will forgive their sin and will heal their land." (2 Chronicles 7:14 NIV)
Precisely. This is what many of us have been predicting all along. This is precisely what happens when you nationalize the banking system. Showbama's just following the next step in the Democratic/Socialist playbook.
Sooner or later socialists run out of other people's money. That's the whole idea behind Cloward-Piven. Destroy the Capitalist system and replace it with the European model. Then all you got left is Greece or Spain. You think this isn't deliberate? If not you better turn in that bag of pixie dus; get on that unicorn and go ask the Leprechauns for a new bag. Smoke 'em if you got 'em. :p)
Our government continually runs up the debt. China used to buy that debt through US Treasury bonds, but no longer wants to (smart country). So our government prints more money with the left hand and then buys those bonds with the right. Now they want the banks to buy up the bonds so that they can print even more money (and ignore the debt that is really on the books).
All this is doing is hiding the fact that our money is becoming less and less valuable. Inflation is rising invisibly, but our government is trying to keep it secret. You can see it with the price of food, gas and all other goods. They can't hide that. Eventually, hyperinflation will hit us and nothing, I mean nothing, will be able to stop it.
Unfortunately, even if Romney takes over, to turn this country around, the inflation will have to rise. It won't matter that the Democrats will blame it on the Republicans, because we will all be in the same wheelbarrow full of dollar bills, off to buy a loaf of bread.
I hate to project such a sad, destructive image, but I don't see any way to overcome this but through tough love, huge sacrifice and agonizing pain. Get ready for it, folks. It's going to be a doozy of a ride.
This really shook me up. I knew things were bad, but to hear this, just really slaps you in the face.
Even if we have a new President, he may not be able to correct the damage that has been done
As Infidel notes, it is classic Cloward Piven. I do not think they've any intention of fixing the damage. Just restructuring it.
Coffee beans are good, in the green form, untoasted, they will keep for a very long time, several years.
Yeah, I liked it, too. But you know what they say, once they have a hankering for chicken...
Your new one looks just fine.
Not to change the subject, but I was just tracking you down to tell you I saw the Green Lantern came out of the closet today and that you should watch out for duckie looking at the chickens.
But I see you already put up a new avatar (nice, too) and probably put the 'duck lantern' back in the closet. Good for you.
Seal unroasted coffee beans (unroasted because they supposedly stay longer). You can roast & grind as needed and barter (or drink if you're grouchy like me in the am).
Popcorn, lentils, rice, sugar, flour, iodine tabs, water purification supplies & antibiotics/med supplies.
Good point on the cigs. I don't smoke so I didn't think of that. Of course, when stale cigs is all you can get, they turn out to be better than nothing, I suppose. I'm not going to give up any of my ammo, though, 'cause it's more valuable to me. I need to find a third item then. Any suggestions, scoopers and scoopettes?
LOL. Yeah, toilet paper, ammo and booze will be hotter than a worthless chunk of yellow rock! Cigs too, but they're too expensive to stock up on and don't do well when they're stale.
I never did understand what he meant. If the government collapses, Gold doesn't do squat. It's only good in an economy. I want cigarettes, booze and toilet paper. Now that's barter material.
Mitt, do you have what it takes to turn this tide? We The People have the will...can we find the way and stick to it?
how about more detail on this story - which would also include the fact that the bank lobby writes the laws. There is a lot of serious garbage going on in this whole sector, and most americans have zero clue about any of it. And yes, if Treasury goes under you are already in deep serious trouble anyway. But we can expect that if money is involved, then there will be a huge load of nonsense being shoveled around. The public is baffled by the baloney.
This is what happens when society eschews morality for moral relativism. House of cards! I'm not sure that stuffing a mattress will help at this point. Learn to barter I guess but to do that you better have something to barter with.
Do you think there's any good videos on YouTube for how to make animal pelts? I better start learning a trade...
Maybe a blacksmith...
I've always wanted to live like I was in the Dark Ages.
Yeah, learn to barter. You can stuff your mattress, but that only makes your mattress more comfortable with useless stuffing. Watch for Obama to start printing 'trillion dollar bills'.