Friday, January 1, 2010
Read this, you might learn something.
Dear Mr. Geithner, Let Me Teach You Something
Mr. Geithner, let’s start your education by simply looking at the number of zeros in $100 trillion. Are you ready for this? You better sit down because it should blow your mind away: $100,000,000,000,000. I’ll now give you another frightening number, and that’s $1.144 quadrillion, which is the approximate notional value of all outstanding derivatives. This $1,144,000,000,000,000 is a number that will only continue to grow since you and your helicopter partner firmly installed a moral hazard framework into the whole financial system with your global bailout.
Posted by devo @ 09:30 PM (1322 views)
8 thoughts on “Read this, you might learn something.”
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devo says:
happy new year
hpwatcher says:
I read an interesting report today, seems that a collapse for the dollar is now underway and inevitable.
What now for Sterling?
alan_540 says:
Ditto. It’s certainly going to be interesting to say the least.
hpwatcher says:
Yes, I think that everybody now realises that government/central banks have made a huge mess of things, and that some sort of crisis is on the way, it’s just the waiting to see if anyone has to balls to ‘fess up’ that I find amusing.
devo says:
4. hpwatcher said… everybody now realises that government/central banks have made a huge mess of things
This is important
Ponzi schemes ( financial pyramids) work on the ‘greater fool’ theory.
When there are no ‘greater fools’ the game’s up.
devo says:
Ponzi schemes ( financial pyramids) work on the ‘greater fool’ theory.
When there are no ‘greater fools’ the game’s up
A nice example of this was given earlier today by estrader…
I see 3 major participants
1) The Strong Hands – They know exactly what they are doing all the time
2) The Weak Hands – They sometimes know what they are doing and sometimes take guesses
3) The Public – Haven’t got a clue, easily manipulated and (as good as) always wrong.
hpwatcher says:
When there are no ‘greater fools’ the game’s up.
We must be there pretty soon, I mean everybody on you tube is saying it.
They (central banks, government) don’t seem to know, that we know, that the game is up.
devo says:
“They (central banks, government) don’t seem to know, that we know, that the game is up”
They do – they’ve been making it up as they go along for some time now.
They hadn’t counted on the power of the internet, but we’re past the ‘ignore the man behind the curtain’ stage, now.
Ironic if an invention for a military application turns out to be a catalyst for good.