My growing hatred... (1 Viewer)

[billygannon]

From what I understand the collapse of Lehman Brothers stemmed from the realisation that mortgage-backed securities were in fact backed by worthless bad debts. So throughout the first decade of this century massive financial deals were being made on the back of fictional money.

So when the banking industry uncovered this, they scrambled and had to come up with something actually worthwhile. There simply isn't enough raw materials such as gold to back up these financial deals - so the only definite security was government-backed guarantees.

Therefore they force governments to back these huge financial schemes. Governments are able to forcibly raise money through taxes and cutting expenditure - and, in extreme cases, print more money.
So the scenario is that banks have swapped the security of worthless bundles of mortgages for guarantees from governments. Essentially the banking industry is now viewing tax revenues as a trade-able asset.

Is this the case? If it is, then I think every investment banker in the world should arrested and tried in the same way as a Nazi at the Nuremberg trials.

Could it be the case that Goldman Sachs knew that the sub-prime mortgage securities were horseshit and needed governmental guarantees to replace them? It really wouldn't surprise me.

 

[shower another shower]

this shit isn't about money.
debt is only the vehicle for control.

 

[billygannon]

I know it's not about money. It's banks and the very, very rich enslaving everyone to keep the pretence of their insane wealth up.
I believe the best way to deal with them is through force.

 

[shower another shower]

DEVO were right.

 

[ratmonkey]

To view this content we will need your consent to set third party cookies.
For more detailed information, see our cookies page.

Accept third party cookies

 

[shower another shower]

it's aa fuckong shell game. don't lay it down.
...off to the wet thread

 

[shower another shower]

anyone wanna get the price of an ounce of gold together?

let it sit like.

 

[тхеодоре кацзынски]

silver's a better bet right now.or so 'they' say.
I was thinking of starting one of those 'we buy gold' shops but then i realised its greasy as fuck and they are run by parasitic vulture's who are only marginally above paedophile's in the social pecking order.

 

[ratmonkey]

silver's a better bet right now.or so 'they' say.

Also useful in case of werewolves.

 

[Lili Marlene]

How does one become an investment banker? It seems they run everything and I want in.


On the other hand, isn't it good to have a clear enemy these days?

 

[the bearded lady]

silver's a better bet right now.or so 'they' say.
I was thinking of starting one of those 'we buy gold' shops but then i realised its greasy as fuck and they are run by parasitic vulture's who are only marginally above paedophile's in the social pecking order.

what's BELOW paedophiles in the pecking order?
.....oh yeah...little kids..sorry....

 

[the bearded lady]

From what I understand the collapse of Lehman Brothers stemmed from the realisation that mortgage-backed securities were in fact backed by worthless bad debts. So throughout the first decade of this century massive financial deals were being made on the back of fictional money.

So when the banking industry uncovered this, they scrambled and had to come up with something actually worthwhile. There simply isn't enough raw materials such as gold to back up these financial deals - so the only definite security was government-backed guarantees.

Therefore they force governments to back these huge financial schemes. Governments are able to forcibly raise money through taxes and cutting expenditure - and, in extreme cases, print more money.
So the scenario is that banks have swapped the security of worthless bundles of mortgages for guarantees from governments. Essentially the banking industry is now viewing tax revenues as a trade-able asset.

Is this the case? If it is, then I think every investment banker in the world should arrested and tried in the same way as a Nazi at the Nuremberg trials.

Could it be the case that Goldman Sachs knew that the sub-prime mortgage securities were horseshit and needed governmental guarantees to replace them? It really wouldn't surprise me.

sadly this is the way it works and HAS worked for a long time now. certainly throughout the 20th century in most of the western world and, i'd imagine, beyond, this cycle of banks go bust because of non-existent money (ie. money being what it mostly is: just numbers in a ledger or on a computer, not actually ever real) and then they going to what ever spineless government of the day is in "power" and say oh me oh my the future of the economy depends on the citizen's future earnings. and so the low to middle income earner pays back the bad gambling decisions that obnoxiously wealthy cockstains took, and the poor loose out on basic welfare, health, education and services. but that's ok, because if them fucker's ever got too clever they might actually DO something about it and that just wouldn't do, now would it? and thus the spectacle revolves around and around, and history gets moulded like clay so that in no time at all it can be made to seem like the fault of the workers and the proletariat anyway, and maybe make them work harder at paying back the banker's money. proper banker's order!

 

[Deleted member 3435]

How does one become an investment banker? It seems they run everything and I want in.

Study mathematics to a high level at a prestigious university and get poached. At least the only one I've ever known followed that path.

 

[nooleen]

there was a bloke in my class who was a bit of a messer but scraped a 2:2 (in geology, of all things) and went to work for goldman sachs straight out of college....suits and fancy cars and everything
obviously that was when the place was swimming in money though, i'd imagine you'd need to have some actual relevant skills and qualifications to get a job now

 

[shower another shower]

question: whats the position of the Irish Central Bank? Is it essentially like the US Fed, a private bank that loans money to Irish banks and Irish government. The ICB has been printing its own euros to help bailout the banks/government then in turn, charging tax payers interest to service the loan. What it seems like is we're being charged interest on a loan to ourselves. Does this not seem mad?

 

[тхеодоре кацзынски]

it is extremely mad but then again the bankers can't be allowed to lose out.what's also mad is calling the money we received a bail out,its not a bail out its a loan we will have to repay.lest you doubt the generosity of our european partners remember that they borrowed money at approximately 2% and then lent it to us at over 5%.and still our supine 'leaders' go along with it?even the economist magazine (the last word in free market capitalism) had articles advocating that we tell the banks and bond holders they're going to have to take a loss.but no,cowen and co will blindly follow whatever tune is whistled by europe.

 

[shower another shower]

we've been pwned.

 

[тхеодоре кацзынски]

time after time after time....