The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: axial who wrote (16227)	1/11/2009 7:34:16 AM
From: Real Man	8 Recommendations Read Replies (3) of 71456

The financial crisis is not over. The giant derivative Ponzi scheme outgrew the Fed and collapsed under its own weight. We need to deal with it the way we deal with other Ponzi schemes such as Madoff - let it collapse and jail folks responsible for it. The Fed is a part of it. Note that ONLY the LARGE financial institutions are the participants - JPM, Citi, and Bank of America, which is why Wall Street collapsed, while only a handful of small banks failed. The mortgage Ponzi (subprime lenders) collapsed, of course. But the biggest Ponzi scheme is still alive, and just started the process of unwinding. Per latest report, derivatives notionals were down 5% quarter on quarter in September. It is quite likely that if we let this rotten shadow financial system collapse, only a few large institutions will fail The bulk of the financial system (small banks) will actually be ok. It's all about control, market manipulation (to their own advantage) and racketeering by the large banks, helped by the Fed (moral hazard), which we are better off without.

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