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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Monday 16 January 2012

Nadeem Walayat

I  don't agree with a lot of what Nadeem Walayat says and I find his tone somewhat arrogant but he is often interesting ,as here

excerpt :

So, if you have not already done so then you really do need to protect your deposits against the bankrupt banks, because as I warned of right BEFORE Lehman's went bust in 2008 and continuing into 2011, the bankrupt banks are sitting on monumental contagion risks courtesy of their off balance sheet derivatives positions that have grown from $500 trillion in 2008 to over $1.5 quadrillion today! These bankrupt banks have tripled the risk over the past 3 years! This is clear evidence of a ponzi scheme that continuously requires expansion to prevent implosion that is becoming inherently more unstable over the passage of time.
 

6 comments:

  1. Thanks for that link pardner. It provided something I've been looking for for quite a while now. Mr. Walayat said:

    "...the bankrupt banks are sitting on monumental contagion risks courtesy of their off balance sheet derivatives positions that have grown from $500 trillion in 2008 to over $1.5 quadrillion today! These bankrupt banks have tripled the risk over the past 3 years!"

    That's an astounding fact. So far nobody has challenged me when I reported the number to be $1 quadrillion. Now I have the ammo I was looking for. Thanks again.

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    1. Why don't you hook yourself up with an avatar? You're known darned near everywhere so I think you deserve a real nice one. I'd advise against using a brownie though, lol. But seriously, I kind of think of you as being somewhere out there on the perimeter without an avatar, when in fact you're really right in the thick of it all. Just a thought bud. None of my business really. Just don't use a brownie though.

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  5. Thanks AR ! .....as TBone said "Game on bitchez" lol

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