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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (43817)	12/13/2008 7:06:38 AM
From: TobagoJack	1 Recommendation Read Replies (4) \| Respond to of 217792

<<I'm having a hearty chuckle over the stunning Madoff "Ponzi scheme" revelation. Just think of all the hoity-toity socialites who will now have to demineralize / decrystallize their jewelry, and submit their fancy wardrobes and handbags to consignment shops to pay basic living expenses!>> yes, that is delicious. biblical, i might and in fact do say. also, it makes the case for physical gold savings so very well. <<The USA has one-upped the great Hong Kong "accumulator" scandal with this one. What is Asia going to to to get back in the running? <ggg>>> not so fast, not quite, because the face value of accumulators outstanding may be about us$ 500 billion, and at 30% down and margin call wipe out, the losses come to us$ 150 billion, 3x madoff damage. but of course, the losses are spread out over a larger population. otoh, the losses were concentrated within a much shorter elapsed time, measured not in decades but in quarters; iow, hk is more efficient in creating mega damage via financial weapons of mass destruction, and highly productive in distributing the damage to a wider audience, leaving them standing but wiping out their balance sheet.