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As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clear
Started:May 28th, 2012 (09:43 PM) by Victory Trader Views / Replies:157 / 0
Last Reply:May 28th, 2012 (09:43 PM) Attachments:0

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As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clear

Old May 28th, 2012, 09:43 PM   #1 (permalink)
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As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clear

As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clearinghouses … In the U.S. and Abroad

As the Wall Street Journal reported yesterday:

Little noticed is that on Tuesday Team Obama took its first formal steps toward putting taxpayers behind Wall Street derivatives trading — not behind banks that might make mistakes in derivatives markets, but behind the trading itself. Yes, the same crew that rails against the dangers of derivatives is quietly positioning these financial instruments directly above the taxpayer safety net. As An Encore to Bailing Out the Big Banks, Government to Backstop Derivatives Clearinghouses … In the U.S. and Abroad - Washington's Blog
MY THOUGHTS - What this basically means is that the US Government let Wall Street go wild with high-stakes gambling called Derivatives, and even after the disaster of AIG (which was dumped into the taxpayers) derivatives were still allowed to run rampant across the globe. In other words, since Wall Street and the government ducked the consequences of their earlier greed, they got greedier. Derivatives exposure in Europe alone is almost $100 trillion. So what Wall Street and Washington DC just did is drop the derivatives exposure onto the taxpayer. So when the system implodes, which is now inevitable, they will come knocking on the door for your money, your gold, your jewelry, the gold in your teeth, your silver, your copper, your car, and most importantly the lives of your children pledged as slaves to the resulting debt for the next 20 generations. As ancient Rome succumbed to the machinations of the money-junkies, wives, daughters, even sons were forced to work in state-owned houses of prostitution. Already in Europe women are being told they must work as whores if they cannot find other work with which to pay the money-junkies. Think it will not happen here? Still believe Saddam had nuclear weapons?

Now, consider that since 2008 the American people have told the US Government not to use taxpayer money to backstop Wall Street's recklessness. Had DC allowed Wall Street to take their lumps from the mortgage-backed securities fraud and fail, to be replaced by more responsible financial leaders, we would already be headed out of this mess the way Iceland is. But the US Government ignored the will of the people, went ahead with TARP and an endless stream of additional bailouts, Wall Street got greedier and now Europe hovers over the edge of a precipice, firmly tied to the Wall Street banks by derivatives, and now Washington DC wants to move those chains from their good buddies the bankers onto your ankles, and wave good bye as you sink our of sight into the abyss.

In other words, the government is going to force you to pay for the failure that resulted from their doing something you told them not to do in the first place.

And if you go along with this, then you deserve everything that is about to happen.

Now is the time to get angry, because you have nothing left to lose!

“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?... The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin's thirst, the cursed machine would have ground to a halt! If...if...We didn't love freedom enough. And even more – we had no awareness of the real situation.... We purely and simply deserved everything that happened afterward.” -― Aleksandr I. Solzhenitsyn, The Gulag Archipelago

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