Topic: The $1 Billion Armageddon Trade (Read 4490 times)

First.  Put the Glass-Steagall Act back in place.

The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Experts believe that this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms

What is to stop this from happening again?

Can someone please explain the gist of a futures trade. Some dude predicts the AAA rating will go down, which will force the US govt to pay higher rates (or not at all?)... then...the trader promised what?

I think what failed to stop the central banking was congress itself by letting themselves be corrupted by the banks to vote on the deal on x-mas eve when majority is unavailable for voting.
And then the president signing the federal reserve law.

Clearly the SS risks/ed their lives to protect these, other presidents, their families, and diplomats. But isn't it odd that the only responsibilities of the Secret Service are to protect politicians and the physical currency? As if the mission were to keep these two institutions in line.

"Psst... Mr. President, just a reminder, so we're clear about a few things..."

I don't think "returning" to the constitution as it pertains to Congress "coining money and regulating the value thereof" is a viable solution. It failed to stop the rise of central banking when it was first tried. What makes you think things will be any different this time? I think the whole concept of monopoly money should be relegated to the dustbin of history entirely.

Yes, of course men should take away the power from the Fed and at least (re?)turn it to congress.
The constitution of the USA only grants the right of creating money to the congress, and not to a bunch of banksters whose only goal is to make money out of states, be it through the right of printing money or through the proceeds of war.

In my opinion 'we' should 'scrub the whole model' and return to a sane model where by default states don't borrow money, nor print unlimited amounts of it. 'Printing' is allowed, but only to accommodate the production of services and goods and a proper flow of money.
Currencies should be backed by valuable items, like for instance silver, gold, platinum or whatever deemed valuable enough. Uranium?

And, A Darknet economy evolves in which "DarkNetCredits" quickly out pace the USD...........

From Amazon http://www.amazon.com/Daemon-Daniel-Suarez/dp/0525951113

Robin Cook on Daemon

Doctor and author Robin Cook is widely credited with introducing the word "medical" to the thriller genre. Thirty-one years after the publication of his breakthrough novel, Coma, he continues to dominate the category he created, including his most recent bestseller, Foreign Body, which explores a growing trend of medical tourism--first-world citizens traveling to third-world countries for 21st-century surgery.

Daemon is an ambitious novel, which sets out not only to entertain, which it surely does, but also to challenge the reader to consider social issues as broad as the implications of living in a technologically advanced world and whether democracy can survive in such a world.

The storyline portrays one possible world consequent to the development of the technological innovations that we currently live with and the reality that the author, Suarez, imagines will evolve, and it is chilling and tense (on www.thedaemon.com the reader can find evidence that the seemingly incredible advances Suarez proposes could in fact become real). Daemon is filled with multiple scenes involving power displays by the Daemon's allies resulting in complete loss of control by its enemies, violence with new and innovative weaponry, explosions, car crashes, blood, guts, and limbs-cut-off galore.

As far as computer complexity, Daemon will satisfy any computer geek's thirst. I was thankful for Pete Sebeck, the detective in the book whose average-person understanding of computers necessitates an occasional explanation about what is going on. I came away from the novel with a new understanding, respect, and fear of computer capability.

In the end, Suarez invites the reader to enter the "second age of reason," to think about where recent and imminent advances in computer technology are taking us and whether we want to go there. For me, it is this "thinking" aspect of the novel which makes it a particularly fun, satisfying, and significant read.

I find it interesting that the whole time I've been involved with Bitcoin, mining of Bitcoin, and lurking (sometimes posting) on this forum, that no one has ever mentioned the book "Daemon" and it's sequel "Freedom TM"

There are some very cool parallels...........

Any1? Bueller?

Wait till the day they start selling individual .25oz packets of ketchup at todays 8oz 6oz prices. And the package will cost more to make than the ketchup inside.

Honey, what do you want me to get at Walmart since I'm going there to this cavity filled? Have you seen my ObamaCare card?

One package of generic ketchup, two small eggs, 4 slices of their day old bread, and 3oz of 1% milk. Here's the online coupon for the ketchup and the container to put the milk in. Make sure you don't buy anything else. Remember, we're on a budget. Check the bicycle basket glove box for your card. I think I saw it there when I went dumpster diving an hour ago. While you're gone, I'll get the landlord to fix the leak in this tent. And remember to not make any eye contact with Homeland Security.

Bitcoin: Don't Wait till Things get Bad

Exactly , they know they can not raise prices (duh scare the people) so they lower the quantity! Mind boggling to say the least.

If we have to be historically accurate thats false.

JFK passed a bill to emit silver certificates, he did not pass a bill allowing congress to print as much as they want to, and it is quite unclear the silver certificates was the reason why he was assesinated. I guess it could be, there are several theories as to why he was killed.

Lincoln did print "all" the dollars he wanted, but the dollar hyperinflated and lost 50$% of its value in 2 or 4 years (dont remember exactly right now). If it were not because congress decided to stop printing which returned confidence in the currency, the dollar would have completely collapsed. Again, there are several theories as to why Lincoln was assesinated but saying its because of the greenbacks its quite a strecth. It does not make too much sense.

Any one here care to guess who made such a bet? ...or the source of the inside information?

I hope they placed the bet or however they wish to call it in USD.  That would just be hilarious.

Very interesting discussion we have going on here. I'm opted to stay out of it because my comment(s) may not add value. Thank you kindly to all the posters so far. Keep up the discussion.

Agreed.

Watch as the USD slowly gets hammered.

Keep in mind, while you're not looking, you're 8oz bottle of ketchup that you buy every month has now become a 6oz bottle @ the same price...........

While I agree with your sentiments, I don't think this model can apply to US unless a constitutional amendment is passed.
Only Congress has the power to regulate the money supply, and Congress so far has only issued one type of currency: the USD. So the people is faced with a Hobson's choice. (Technically the American Gold Eagle is also legal tender but the $5 coin is actually worth $150...)

I fully support the idea of private currency though. The first time I used an ATM in Hong Kong 4 different shades of plastic bills popped out. I thought I was scammed with monopoly money at first. As it turns out each bank issue their own set of notes. All the private banks work together to regulate the HongKong dollar. Now that's free market at work. Since none of the locals carry around counterfeit bill detectors I assume they have no problem identifying and trusting 20+ different types of bills. None of the HK banks got a bail out either.

Lincoln and JFK tried this and both were assassinated as a direct result. Though I do believe their models are the only one's that are actually workable.

The problem is not fractional reserve. Fractional reserve is fine. The problem is central banking. You dont need to have a money monopolly regulated by a central bank, people can freely choose the money they want.