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The world does NOT revolve around US political parties.
The value of global derivatives is now between $800 trillion and $1 quadrillion.
The "too big to fail banks" have grown by 40%
A mere handful of banks own over half of all US loans.
But go ahead and argue who is better..Democrats or Republicans.
Are there people/institutions/countries dumb enough to part with gold for a worthless Federal Reserve IOU?
Yes...apparently tons of people with PH'd's in economics, and leaders of business.....are apparently "dumb" enough too. Its a good thing you're smarter and know better huh?
Just how many working (blue collar) people have all THAT much money in banks anyway?
I sure don't!
I really don't care if the millionaires and billionaires lose their shirts, as long as I can grow vegetables, hunt and fish, we will get by.
Just how many working (blue collar) people have all THAT much money in banks anyway?
I sure don't!
I really don't care if the millionaires and billionaires lose their shirts, as long as I can grow vegetables, hunt and fish, we will get by.
There's nearly $10 trillion in 401K/IRA/Roth accounts.
That is the retirement vehicle for "working" people both blue and white.
Rich people don't and cannot put money in there.
The rich won't lose their shirts; they didn't with the 2008 crash.
It's us normal joes that will see our savings obliterated.
They do not pay enough interest to leave it there.
1. No they don't.
2. I know plenty of people who do not keep their money in banks.
3. If the financial system ever collapsed here the Feds wouldn't announce it ahead of time and give people time to take out their money. Look to Europe. Just a year or two ago. Can't happen here? No? Why not? What makes us so special? So-called safeguards put in place by people who are known as liars, thieves and opportunists on an unimaginable scale??
It's not just "banks" he's talking about.
Financial firms with investment accounts are just as exposed.
In 2007 mortgages cratered and Paulson was wrong when he said it was contained to the RE industry wasn't he ?
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