April 24th, 2013 at 4:15PM
thinksquad: Well that’s a big scary chart. Zerohedge pulled numbers on the biggest 25 banks in and it’s anything but reassuring: With 9.283 Trillion in depositor funds, it would take only a .002% net shortfall in the banking system to completely exhaust the fund. Let’s assume the banks want to donate 10 years worth of contribution to the fund all at once, right now. That 145 billion would cover a 0.015% devaluation So far we’ve only talked about the tiny blue bar and the little green bar. The big red bar is another animal entirely, and it’s time we addressed him. In theory, funds deposited with a broker or in a bank are still your money. In practice, this is not really the case. Both Knight Capital and MF Global have been caught with their hands in the customer cookie jar after they grabbed whatever funds they could to keep operating for just another day. In the case of MF Global it was a large burst right at the end, but at Knight Capital this was a systemic practice for years. The problem, as Karl Denninger likes to say, is excessive leverage. In a low interest environment where bailouts are the norm for the largest institutions, there really is no reason to not bet big because if the screw-up is large enough, there’s always rescue waiting. That scary red bar is the collected debts of those 25 largest banks, and it totals almost 300 trillion dollars, or about 32x total deposits. I think the chart and numbers say it better than I ever could. http://EndtheLie.com/2013/03/19/ensuring-bad-outcomes-what-cyprus-tells-us-about-the-world/#ixzz2O7UgIF9A People still have no idea about this. Zero. 

thinksquad:

Well that’s a big scary chart. Zerohedge pulled numbers on the biggest 25 banks in and it’s anything but reassuring:

With 9.283 Trillion in depositor funds, it would take only a .002% net shortfall in the banking system to completely exhaust the fund. Let’s assume the banks want to donate 10 years worth of contribution to the fund all at once, right now. That 145 billion would cover a 0.015% devaluation

So far we’ve only talked about the tiny blue bar and the little green bar. The big red bar is another animal entirely, and it’s time we addressed him.

In theory, funds deposited with a broker or in a bank are still your money. In practice, this is not really the case.

Both Knight Capital and MF Global have been caught with their hands in the customer cookie jar after they grabbed whatever funds they could to keep operating for just another day. In the case of MF Global it was a large burst right at the end, but at Knight Capital this was a systemic practice for years.

The problem, as Karl Denninger likes to say, is excessive leverage. In a low interest environment where bailouts are the norm for the largest institutions, there really is no reason to not bet big because if the screw-up is large enough, there’s always rescue waiting.

That scary red bar is the collected debts of those 25 largest banks, and it totals almost 300 trillion dollars, or about 32x total deposits.

I think the chart and numbers say it better than I ever could.

http://EndtheLie.com/2013/03/19/ensuring-bad-outcomes-what-cyprus-tells-us-about-the-world/#ixzz2O7UgIF9A

People still have no idea about this. Zero. 

19 notes Source: thinksquad #Zerohedge#Finance#Fianncials#Derivatives Market#Bank#Banks#banking#Banksters#Bubble
April 15th, 2013 at 12:51PM

psicorp:

JPMorgan CEO says people do not need to know how banks work because it is too “complex” for them.

People don’t need to know how banks work. 

Just like how people don’t need to know how cars work or now electricity gets to their house or how atomic particles don’t suddenly split apart or how the sun works.

There are a lot of things that happen in life, some vital and some not so much, that impact your daily life that you probably have no clue on how or why and you don’t have to. You can concentrate on the one thing that you, yourself, are good and and can make a living from through which you can just pay others to do those unknown services for you. 

Jamie Dimon is, banking is complex and you or I don’t need to know how it work.

However, if we are going to dump millions, billions and even trillions of our stolen wealth into a black hole to help bailout and artificially prop up those complex banks, we have the right to ask.

This isn’t a question of what we have a right to know or even a duty to know. This is a question of who has a right to our money and what can we demand and expect in return. 

(via priceofliberty)

13 notes Source: cnbc.com #Jamie Dimon#JPMorgan#Chase#Banking#Bankster#Bank#Banks#video#bailout#TARP
March 22nd, 2013 at 12:11AM
The simple fact remains that politicians proposed stealing savings deposits from the people in order to fund a bank bailout. You can dress this idea up however you like, calling it a “levy” or “tax” but taking someone’s personal property without their permission is theft plain and simple. —

Why You Should Be Terrified Of What Just Happened in Cyprus | Zero Hedge (via casuist)

The actions in Cyprus might very will dictate how America goes about paying off our National and State/Local debt. Scary stuff. 

(via 21st-century-classical-liberal)
15 notes Source: zerohedge.com #Banks#Debt#Bailout#Government#Politics#Economics#EU#European Union
February 15th, 2013 at 2:48PM

soupsoup:

When was the last time you took a Wall Street bank to trial, asks Elizabeth Warren. I’ll save you some time: none of these government lawyers have.

Say what you want about Rep. Warren, but she does ask some tough and very much needed questions. 

219 notes Source: soupsoup #Banks#Banksters#Elizabeth Warren#Politics#video#Wall Street
January 2nd, 2013 at 2:23PM
eltigrechico: bet money We’ve had the same President for over 100 years! 

eltigrechico:

bet money

We’ve had the same President for over 100 years! 

41 notes Source: eltigrechico #libertarian#barack obama#obama#politics#FDR#Bush#LBJ#Roosevelt#Banks#Bank#Banksters#Corporations#Corporatism
June 20th, 2012 at 12:35PM
“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” - Thomas Jefferson 

“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” - Thomas Jefferson 

(via thefreelioness)

21 notes Source: dudeistlibertarian #Politics#Thomas Jefferson#Quotes#End The Fed#Government#Banks#Central Banking
June 5th, 2012 at 2:50PM

anti-propaganda:

How to start a revolution: Learn from Iceland! (by THEDUMBPLANET)

‘The people of Iceland forced their corrupt government to resign.
A public assembly was created to rewrite the constitution.
The banks were nationalized, it was decided not to pay the debt that PRIVATE banks created.
All of this in a peaceful way…
What would happen if the rest of the world took this as an example?’

“Loans we never asked for”. Exactly. 

93 notes Source: youtube.com #Politics#Iceland#Banks#Bail out#Revolution