tag:blogger.com,1999:blog-1592992209402300549.post5181441821234255100..comments2024-03-28T08:06:43.198-04:00Comments on The Silicon Graybeard: The Phrase of the DaySiGraybeardhttp://www.blogger.com/profile/00280583031339062059noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1592992209402300549.post-81593960589230281662016-05-15T11:20:12.519-04:002016-05-15T11:20:12.519-04:00I would add that - although the majority of the ma...I would add that - although the majority of the manipulations may be legal - the control exerted by these banks certainly influenced the creation regulations and codes which _enable_ those manipulations, benefitting those banks. <br /><br />That also provides a true conflict of interest by the Congressmen who benefit from either direct payment or perks from those financial institutions, and/or by "riding the coattails" of the banks to increase their wealth ("insider trading", via currency trades or stock trades). They aren't merely benefitting from the serendipity of those regulations and laws, they influenced the creation of those regulations and laws in order to directly benefit themselves. <br /><br />In addition, just as it is a felony if we lie to government (agents), but only "politics" when they lie to us, so it is that "insider trading" is illegal for the citizen, but completely legal for members of Congress - scum who use their position to leave Congress as multi-millionaires.Reg Thttps://www.blogger.com/profile/14099612693763932005noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-66652964472217598542016-05-12T09:02:46.662-04:002016-05-12T09:02:46.662-04:00Just imagine that you are hired to manage millions...<i>Just imagine that you are hired to manage millions or even billions of dollars and banks and bonds are paying 1% interest (if you can even get that).</i> Excellent summary. <br /><br />And you're absolutely right that congress caused the last crash - with the help of the Federal Reserve - and the same combination will cause the impending crash. In the case of '08, one of the main causes was the community reinvestment act from the Jimmy Carter days. In the case of the coming crash, one of the main causes will be Dodd-Frank. Supposedly, it was written to prevent the next crash, but I haven't found a single author who thinks it will. Instead, it formalized the TBTF banks (Too Big To Fail), which is another way of saying it Nationalized the banks without requiring the guts to say the government nationalized the banks. <br /><br />All the shenanigans the banks did to cause the last crash are still there. CDOs are still there. In fact, they're worse than before. <br /><br />But last night, as I was falling asleep, I told myself, "you should have said something about bankers who did really break laws, and that if they broke 'em, they should be in jail". So I just did. <br />SiGraybeardhttps://www.blogger.com/profile/00280583031339062059noreply@blogger.comtag:blogger.com,1999:blog-1592992209402300549.post-72443318177980875552016-05-11T23:00:39.022-04:002016-05-11T23:00:39.022-04:00It kinda depends on the agenda of the individual w...It kinda depends on the agenda of the individual writing or speaking on the subject. For example the point that it is the same big Western banks involved in this and the crash of 2008. The banks didn't cause the crash congress did and President Clinton of course signed the bills. it took a decade to crash but the cause was not the banks. The banks deal in mortgages and mortgages were the nexus of the 2008 crash. Next time it will be something else and if it involves money, loans and bonds the same banks will be involved in that too and more than likely they won't have caused that crash either. Generally the problem is the government either intentionally as in the crash of 2008 or unintentionally by passing excessive regulations and stifling the economy. The investor; the humans not in government simply do what they can to invest and profit in the market as it exists. Just imagine that you are hired to manage millions or even billions of dollars and banks and bonds are paying 1% interest (if you can even get that). So you look to other investments and try to beat your competitors. The result worldwide looks chaotic and the total worldwide is massive. <br />As we speak I'm expecting the next crash, the indicators are there and the stage is set. It is likely that some of the things the big banks and money managers do will exacerbate it but not intentionally. It is simply the result of humans having the option of free choice in a market that is controlled or made more chaotic by governments/regulators. <br /><br />The next crash is imminent and when it happens the media will happily blame something whatever the powers that be want us to believe caused it and heads will roll and fines will be paid and we will all remain more or less ignorant of what really happened.Anonymousnoreply@blogger.com