Re: Mind's Eye Re: Banksters

- In the
real world the horse is a dead donkey and I'm lending money to a bunch
of unemployable drifters who borrow the money to drink at ever
increasing prices in my pub.

 

The Bwanksters. I get it. That whole mortgage bundling scam is at the root of all our troubles. The SEC should have never let that happen. Smells like fraud. House values are still falsely inflated.

 

In the Macro where billions are at work my little example of what money is(more like what it should be) does crumble. To dust. However, the vast majority of us use money in just such a fashion as I have suggested. So I do see your point on how the Bwanksters are hosing us. We let them though. They couldn't do it if we didn't enjoy it. We meaning the General Public. We like our houses and nice cars and some folks even borrow to buy their toys. RVs and boats and such. wth you can always declare bankruptcy, right? This kind of thinking has us where we are. Bankruptcy is supposed to teach us something. Give us 7 years of no credit to become lean and learn sacrifice and thrift.

 

We ain't larnin nothin'. The entire Occupy WJ movement seems to be about gimmie, gimmie, gimmie. I did switch all my banking to my credit union. That's my big stand.

 

dj

 

 

 

On Sun, Mar 25, 2012 at 8:54 PM, archytas <nwterry@gmail.com> wrote:

Sadly Don, money ain't what you say - though I wish it was.  We have
blue, brown and purple beer vouchers over here that correspond to the
money you mean and one can borrow these from banks as long as you
don't mention you aim to blow it on wine, women and song.  This is the
stuff we work for, but money and debt have become really weird.  The
beer (or family comfort) vouchers in our pockets are being devalued in
all kinds of ways we have no control over - from Tarp to queezing to
the machinations of offshore "management techniques" that shift jobs
abroad to depress our wages and evade tax through transfer pricing -
plus the looting through capital flight.  The price we pay for a
banana includes all this.
The current rumour is even Germany is hiding a trillion or so of bank
debt.  I think Allan is right and Molly's money-lenders' tables are
the false accounting ones of governments and banks.  Thieving and
government bread and circuses rather than genuine public spending seem
likely culprits.  Every debt should produce a productive asset - so
why are these debts all feared to be so bad?  The standard answer at
the moment is it's all a Ponzi that requires asset prices to keep
rising and new money to keep flowing in.  As Molly says it's an old
story - though I think more of the South Sea Bubble and French people
signing contracts  to buy bits of Louisiana on a hunchback, thinking
it was an island off the west coast of America.
Only 19% of the Greek bailout reached Greece and we still have no clue
who owns much bigger worthless debt in Spain and Portugal.  No one
knows what, if anything, any of this massive electronically created
money (debt is the new money) bought.  Bank debt in the UK is massive
but this would be a good thing if the investments were wise (much of
it is held by foreign banks based here - maybe for the bad reasons
Lehmann was here with its repo 105 fiddles).  Money is now produced in
accounting fiddles and this is the same money we hold as 'beer
vouchers'.  London is the centre of all this, but the debt held in
Eurozone banks is massive.

Repos work a bit like this - Don sells me his best horse and agrees to
buy it back on a set date for a bit more than he sells it to me - this
is like me giving Don a loan with the horse as collateral (the extra
he pays at the end is really interest).  I never get the horse but can
use it (hypothecate) as my collateral for the period of the repo.  In
fact this can happen several times, and Don's horse can be the
collateral behind thousands of trades, all supposedly insured through
derivatives.  So Don has his repo money and I'm loaning out loads more
on the basis of a claim on his horse.  If all the loans work we are
both quids in and it's all insured so Don's horse is never at risk.
Fine, except these trades aren't between men like me and Don.  In the
real world the horse is a dead donkey and I'm lending money to a bunch
of unemployable drifters who borrow the money to drink at ever
increasing prices in my pub.

On Mar 25, 8:09 pm, Don Johnson <daj...@gmail.com> wrote:
> Money is simply a means to goods and services we need or want. I don't
> consider it greedy or immoral to want more for myself and family when it
> comes to safety and comfort. Some would call this materialistic I call it
> good policy. The more I make the more I feel safe. That is, I don't worry
> about food and shelter. That said, I will agree our society in general buys
> far more then it needs. We often borrow to do it. This is bad. It's bad
> when individuals do it and it's bad when governments do it. I would rather
> you see the borrowing part as the evil and not the spending part. In
> general, spending is good. It helps us all and grows the economy. Borrowing
> is a false growth for which Greece and the US and others must now pay the
> price for. Each successive admin. keeps borrowing more and pushing the day
> of reckoning off another year. Or 4. Someday this buck passing must end. I
> see Europe as trying it's best to end it for Greece.
>
> It's not going to be pretty.
>
> dj
>
>
>
>
>
>
>

> On Sun, Mar 25, 2012 at 10:27 AM, Molly <mollyb...@gmail.com> wrote:
> > age old tale.  Christ overturns the tables of the money changers in
> > the temple.
>
> > On Mar 24, 11:54 pm, Allan H <allanh1...@gmail.com> wrote:
> > > Was playing solitary thinking about the movie series the wife and I are
> > > watching, writing poetry at 5:30 am with daylight savings time kicking
> > in..
> > > of with writing poetry thinking semi kicks in there in lies the problem..
>
> > > Looking at the debt crisis of Greece -- thinking about the movie with a
> > > physical black cloud that can drag you away .. the representation of pure
> > > evil...
> > > It dawned on me with Greece being hit extremely hard bar the financial
> > > crisis.. three is a rather strange relationship there.  Greece is really
> > > the seat of modern day Christianity........ banking has taken over the
> > > country which forms roots of spiritual christianity .
> > > In Greece and the rest of the world money banksters have replaced God...
>
> > > The real guest ion is has money and its pursuit replaced God and
> > morality?
> > > As shown in Greece.
> > > Allan