ArabiaTerra Posted September 16, 2008 Report Share Posted September 16, 2008 So the worlds financial system seems to be falling apart. I wonder what this will mean for the Charitable Trust? Maybe we won't be getting the new AHS after all. I just hope that when the dust settles the powers that be will start arresting and asset-stripping the a*seholes who caused this. From what I've been reading this seems to have been an entirely avoidable catastrophe caused by greed, pure and simple. Link to comment Share on other sites More sharing options...
ArabiaTerra Posted September 16, 2008 Author Report Share Posted September 16, 2008 A good summing up of the situation as posted on the Guardians comment page: http://www.guardian.co.uk/business/2008/sep/16/lehmanbrothers.marketturmoil3 Ask yourself two simple questions - 1) Where has the more than $2 Trillion in public money put in to markets so far gone? 2) What exactly does it mean to YOU when 'public' money from central banks and treasuries is 'supplied to the markets'? Answer to question one - the banks needed the money - why? They said they had 'liquidity' problems. Sounds so temporary doesn't it. But does that mean the money is there in the bank ready to be returned. No it does not. The banks and now the insurance companies needed the money because they OWED that money to someone. Which means the money you gave them is gone. Gone from the bank and soon the insurance company to the mega rich people they owed the money to. Now the answer to the second question. When ' public money' is handed over it does not mean that someone with a trolly went to the governments HUGE pile of cash and took a bit out. There isn't a government in the west that has a pile of money. All the money they 'have' is borrowed. Sure they get taxes, but most of what they spend on this sort of thing is borrowed. What does that mean? It means they money they are giving to these mega rich institutions to pay off their debts to other mega rich people is actually signing YOU and your children up to a contract to pay your taxes in the future to pay off this debt. So in summary. Our governments are signing US up to pay tax money to pay the debt of rich and greedy people who owe money to other rich and greedy people, so that they can all go on being rich and greedy. God forbid that any of them should suffer any consequences. No, no. YOU need to and are, going to suffer the consequences. Link to comment Share on other sites More sharing options...
Carlos Posted September 16, 2008 Report Share Posted September 16, 2008 George Soros and the 25 year bubble.http://www.npr.org/templates/story/story.php?storyId=90328243 Link to comment Share on other sites More sharing options...
Styumpie Posted September 16, 2008 Report Share Posted September 16, 2008 I just hope that when the dust settles the powers that be will start arresting and asset-stripping the a*seholes who caused this 1, Greedy bankers 2, The government for not including House price inflation in the CPI inflation figures resulting in far far too low interest rates over the past 10 years, which in turn fuelled the ludicrous and now highly damaging housing boom (which is what they wanted, 'no more boom and bust' miracle economy) 3, The public, who fell for it all and bought into the whole greedy get rich quick mentality by owning a house/s, borrowing (betting) against the value of there home with rising prices (Mortgage equity withdraw) and being allowed to borrow stupidly high multiples, I.e, self cert mortgages resulting in mass widespread mortgauge fraud. The last 10 years we have seen a huge reckless credit boom, worldwide. Now it is payback time. This is going to be utter carnage, probably worse financially than anything in living memory. As I said before, house prices rising above inflation was something to worry about, yet most people thought it was a great thing, would not hear of a bad thing said about HPI Now the penny is beginning to drop out there in the minds of the public, not so good when we are all out of a job, and our services are slashed. Link to comment Share on other sites More sharing options...
paulb Posted September 16, 2008 Report Share Posted September 16, 2008 oh im sure that will happen Link to comment Share on other sites More sharing options...
Njugle Posted September 16, 2008 Report Share Posted September 16, 2008 It's not the government's fault, it's daytime TV. All those programs, buy buy buy, get up the property ladder, buy in the country, buy one abroad too, buy at an auction, paint it up and sell it on, every one's a winner baby! It's brainwashed the masses. ...and that's what happened to America biggest bank If you can't be in the house you love, love the house you're in. Link to comment Share on other sites More sharing options...
paulb Posted September 17, 2008 Report Share Posted September 17, 2008 and the halifax is now to be taken over. somebody is making a fortune over this. if i remeber correctly the bin larden family made money after 9/11 somebody is doing the same now. Link to comment Share on other sites More sharing options...
PJ of Hildisvik Posted September 17, 2008 Report Share Posted September 17, 2008 ^^^^^ What do they have in common????? Link to comment Share on other sites More sharing options...
paulb Posted September 17, 2008 Report Share Posted September 17, 2008 they are super rich. Link to comment Share on other sites More sharing options...
Ertieiddabanks Posted September 17, 2008 Report Share Posted September 17, 2008 and the halifax is now to be taken over. somebody is making a fortune over this. if i remeber correctly the bin larden family made money after 9/11 somebody is doing the same now. Are you suggesting the current financial turmoil is an al-qaeda attack?...a tad tenuous methinks. Link to comment Share on other sites More sharing options...
paulb Posted September 17, 2008 Report Share Posted September 17, 2008 no its just that the very rich aways come out of these thing richer. so if they avoid these problems but the rest of us dont what could this be telling us. lets just wait until the next rich list and see who has made a killing. Link to comment Share on other sites More sharing options...
crofter Posted September 17, 2008 Report Share Posted September 17, 2008 ... and see who has made a killing. Anybody who bought HBOS shares this morning at 88p! Link to comment Share on other sites More sharing options...
paulb Posted September 17, 2008 Report Share Posted September 17, 2008 ... and see who has made a killing. Anybody who bought HBOS shares this morning at 88p!my mum in law has some from when they converted. i kept telling her to sell when they were at ten pounds, i dont have the heart to tell her shes lost the best part of 9000. she has this belief that shares are safe. Link to comment Share on other sites More sharing options...
crofter Posted September 17, 2008 Report Share Posted September 17, 2008 ... and see who has made a killing. Anybody who bought HBOS shares this morning at 88p!my mum in law has some from when they converted. i kept telling her to sell when they were at ten pounds, i dont have the heart to tell her shes lost the best part of 9000. she has this belief that shares are safe. They can go up as well as down, you know... Link to comment Share on other sites More sharing options...
Styumpie Posted September 22, 2008 Report Share Posted September 22, 2008 http://www.informationclearinghouse.info/article20839.htm Link to comment Share on other sites More sharing options...
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