- Mar 24, 2014
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Peter Schiff: Biggest Crisis Ever Looms
- Thread starter SBRPhillyFlyers
- Start date
5 largest US banks are more leveraged now than they were in last crisis.
Chase, BoA, Goldman, Morgan Stanley, Citi - those 5 have gotten 40% bigger since 2007 and collectively control 42% of all lending in the US.
The amount of derivatives exposure being held by these banks vs actual assets is insane.
Deutsche Bank (Germany) is actually the worst, though.
Schiff makes a lot of sense but he has been banging this Gong since 2007. I believe he is correct about the final outcome - you just can't know WHEN the tires fall off the wagon.
Chase, BoA, Goldman, Morgan Stanley, Citi - those 5 have gotten 40% bigger since 2007 and collectively control 42% of all lending in the US.
The amount of derivatives exposure being held by these banks vs actual assets is insane.
Deutsche Bank (Germany) is actually the worst, though.
Schiff makes a lot of sense but he has been banging this Gong since 2007. I believe he is correct about the final outcome - you just can't know WHEN the tires fall off the wagon.
There have always been gong bangers. Remember Harry Browne from the 1980s who got lots of publicity predicting the collapse of the dollar within the next *few* years. They've always been around, predicting one calamity after another.
I guess the theory is Make enough predictions and eventually one of them will be right.
But you're right about the fucking bankers. Privatize profits and socialize losses has been working great for them, and they'll never stop until it is outlawed, or they are hanged by lynch mobs.
People bitch about lawyers. Hell, the worst of them is nothing compared to bankers. Bankers have hit us harder than Osama Bin Laden.
I'm ready to find short rope and tall trees.
SOOOO pissed about this.
Plenty of Bankstas (my term for banker - gangster) should be in jail from the mess in 07-09 and not only was there nearly zero prosecution, the people that caused the mess have gotten richer from the FED's free money spigot.
OMFG
Remember it was the bought-and-paid-for politicians who made all this bangsta action possible, starting with the repeal of Glass-Steagall via the GLB Act. Here's how the voting went on that one:
(Not a political comment, just fact)
https://www.govtrack.us/congress/votes/106-1999/s105
It's both parties, Duff. Different sides to the same coin. They are all bought and paid for.
Ridiculous.
They all retire as millionaires with pensions and health care for life after fucking over America.
Ridiculous.
They all retire as millionaires with pensions and health care for life after fucking over America.
Agreed. A two-party system which allows unlimited money on campaigns sucks. Every candidate has to suck whatever dicks will put up the money.
And, thanks to the Suck-preme court, corporations are now citizens with all of the rights but none of the obligations thereof.
It's time for a revolt. Public financing of campaigns, a relatively few dollars, Mandatory debates which the networks will cover for free. NO revolving door. One term in office and you can never again work for a tax-dollar supported corporation. Take one penny under the table and you go to jail, mandatory sentencing.
I'd like to add term limits, but there are instances when we have had some damned fine people in office and they served long and honorable careers. Not many, mind you, but when they do show up, we should be able to keep them.
I'd go to Washington for 2 terms. Do my damn best. Leave and refuse a pension and healthcare.
I'd probably get assassinated a month in for pissing off the banks and the Military-industrial Complex.
Audit the FED - it is a private corporation
Audit the Gold in Fort Knox.
Audit all the GSE's as well as the IRS, FBI, CIA.
Audit the 5 big Wall Street Banks - did you hear the recording from the Goldman-Sachs whistle blower?
http://boingboing.net/2014/09/27/fed-whistleblower-secretly-rec.html
I'd probably get assassinated a month in for pissing off the banks and the Military-industrial Complex.
Audit the FED - it is a private corporation
Audit the Gold in Fort Knox.
Audit all the GSE's as well as the IRS, FBI, CIA.
Audit the 5 big Wall Street Banks - did you hear the recording from the Goldman-Sachs whistle blower?
http://boingboing.net/2014/09/27/fed-whistleblower-secretly-rec.html
Okay then, run...
Take no more than $100 from any contributor. Buy your own drinks, meals and hookers. Work 5 days/week. And never, ever, let the Military or their suppliers influence you.
Run as anything but a D or R. Independent, populist, Socialist, States rights, communist, Constitution party, Green, no party at all.
Vote as the Constitution and your conscience tell you.
And get Lumi to run too. You can watch each other's backs.
It would be a start. And the patriotic thing to do. I'll give you the first hundred bucks.
On your worst day you'll do a better job than any "name" politician currently in office.
RUN, SSD, Ruuuuuunn!
