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magellan (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 02:55 PM Original message |
A $516 trillion derivatives 'time-bomb' |
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Democrats_win (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:00 PM Response to Original message |
1. Hedge fund guys were notorius for make a billion and not paying one penny in tax. |
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whosinpower (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:05 PM Response to Original message |
2. Easy fix |
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endthewar (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:18 PM Response to Reply #2 |
3. Just tax these transactions |
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MadrasT (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:55 PM Response to Reply #2 |
27. That's exactly what I've been thinking. |
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fedsron2us (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:05 PM Response to Reply #2 |
31. Are they even legal contracts that can be enforced ? |
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Waiting For Everyman (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:11 PM Response to Reply #2 |
33. Yes. |
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pretzel4gore (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:20 PM Response to Original message |
4. debt as asset |
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creeksneakers2 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:55 PM Response to Original message |
5. How can a market equal |
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CatholicEdHead (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 03:58 PM Response to Reply #5 |
6. It is all about valuation |
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Baby Snooks (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:10 PM Response to Reply #6 |
18. Well it's going to happen so grab a life vest and jump... |
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muriel_volestrangler (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:14 PM Response to Reply #5 |
8. 'output' is a figure per year; this is an absolute figure |
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creeksneakers2 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:47 PM Response to Reply #8 |
25. Notional amount is a hypothetical number |
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muriel_volestrangler (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:39 PM Response to Reply #25 |
36. Following on from that paragrpah you quote, we have: |
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rhett o rick (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:41 PM Response to Reply #5 |
12. It's an elaborate Ponzi scheme. The "value" is of course nothing. It is only worth what |
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whistle (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:42 PM Response to Reply #5 |
14. The whole thing has been a Ponzi scheme covered up by the perpetrators |
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Odin2005 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:37 PM Response to Reply #5 |
21. Our entire monetary system is totally based on non-existent wealth... |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 07:03 PM Response to Reply #5 |
41. The CDS market alone is 60T. n/t |
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UpInArms (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:04 PM Response to Original message |
7. I heard it is $531 trillion |
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Tutonic (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:32 PM Response to Reply #7 |
11. I recall five years ago when Buffet warned investors about derivatives. |
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creeksneakers2 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:17 PM Response to Reply #7 |
34. Please see response #25 |
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jaybeat (729 posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:29 PM Response to Original message |
9. Here's a link to the first thing I've read that I could *really* understand |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:50 PM Response to Reply #9 |
26. Thanks for the link, and it's good to be back to cold hard cash. |
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profgoose (263 posts) Send PM | Profile | Ignore | Sun Oct-12-08 07:43 PM Response to Reply #9 |
43. thanks for the link to us... |
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madrchsod (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:30 PM Response to Original message |
10. amazing what one can achieve by constructing something out of thin air. |
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rhett o rick (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:42 PM Response to Reply #10 |
13. Ponzi invented it. n m |
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madrchsod (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 07:26 PM Response to Reply #13 |
42. yup, i forgot about that guy.... |
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Joe Chi Minh (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:03 PM Response to Original message |
15. I wonder how countries first started minting money to replace bartering?How they went about it? |
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skepticscott (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:22 PM Response to Reply #15 |
19. Well, don't forget |
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Joe Chi Minh (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:34 PM Response to Reply #19 |
35. But, I mean, how could it be restored, to in any way, reflect the current |
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NBachers (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:03 PM Response to Original message |
16. Steal a bicycle under Three Strikes |
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Odin2005 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:43 PM Response to Reply #16 |
22. Laws are only for us little people, The corporate elities are "world citizens" who obey no laws. |
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Festivito (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:05 PM Response to Original message |
17. This just seems overstated. Where is this 56T$??? |
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dipsydoodle (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:43 PM Response to Reply #17 |
23. It's the notional value |
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Festivito (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:01 PM Response to Reply #23 |
28. To where has is migrated? Who holds it? |
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librechik (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:39 PM Response to Reply #28 |
37. It time- traveled into the future |
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Festivito (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:56 PM Response to Reply #37 |
39. I see. And I begin to see how little I see. Who bought it? |
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librechik (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:32 PM Response to Reply #39 |
48. Well, everybody stopped believing in time travel. And now they won't lend money |
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Odin2005 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:45 PM Response to Reply #17 |
24. It's nowhere, it's all "funny money" created out of thin air by the banksters. n/t |
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Festivito (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:02 PM Response to Reply #24 |
30. Even as a number, it must exist somewhere. /nt |
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OwnedByFerrets (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 05:23 PM Response to Original message |
20. I posted on this last week....... |
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Danascot (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:13 PM Response to Reply #20 |
44. Great quote from a republican from the webofdebt website |
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PurityOfEssence (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:01 PM Response to Original message |
29. Hey, it all works fine unless ONE of them fails... |
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Waiting For Everyman (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:11 PM Response to Original message |
32. The buyers and sellers both chose to play in that game. |
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Hannah Bell (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:44 PM Response to Original message |
38. derivative holders listed here: |
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dysfunctional press (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 06:58 PM Response to Original message |
40. wealth tax. wealth tax. wealth tax. wealth tax. wealth tax. wealth tax. |
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Leopolds Ghost (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:22 PM Response to Original message |
45. What this means is a social contract giving certain people literally infinite wealth |
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originalpckelly (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:28 PM Response to Original message |
46. This article contradicts itself, twice... |
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Greyhound (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:32 PM Response to Original message |
47. I love how the estimates of the size of this looming disaster keep getting smaller |
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