Financial Derivatives Explained in Ten Minutes – Re: Derivative Markets and the 2nd Great Depression
Wednesday, January 27th, 2010 at
5:56 pm
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I think we are mostly in agreement. “Taxing the rich” does remove capital from the private market place and put it into the hands of the state, regardless of which “ism” the current state happens to be. The US is largely socialist and becoming more-so every day. Under the Constitution, the US is a democratic republic with free markets and common law, but the government stopped obeying the Constitution many decades ago.
International bankers don’t care about “isms” – only money and power.
Something else just occurred to me. Taxing the rich also takes money away from charities and puts it into the hands of the state. The rich are the big benefactors, and the super-rich are the super-big philantropists. Obama is proposing a reduction in the tax-exemption for charitable giving, while simultaneously continuing and expanding upon Bush’s state-sponsored “faith based initiatives.” It’s all about power. Control.
I don’t know what’s more laughable:
* These “financial instruments” that look to be nothing more than an overly complicated form of gambling.
OR
* The people that defend these things!
what do you mean when you say…”try 95, thats how long we’ve had the fed” do you mean 1895? You can’t mean 1995, can you?
I was following this guy up to the point he tried to lay the blame on Carter and Clinton. I’m not defending either, but to leave out Reagan, Mr Deregulator himself? And how about Phil Gramm?
Yes, Glass-Steagalll was rescinded on Bill Clinton’s watch but the bill was called Gramm-Leach-Bliley.
I’m sick of the partisan BS. AIPAC and the
big banks own both parties and until the average American get this. we’ll never solve this mess.
December 1913. 95 years ago, going on 96.
You’re preaching to the choir. If you’ll watch some of my other videos, you’ll see that I bow to no man in my contempt for Bush. Regan wasn’t so hot either, although he talked a good game.
Got you…I didn’t read your post properly….thanks!
Good video. thanx
You did it. Thank you.
I sort of follow what he’s saying. What separates insurance from gambling is that the insured is indemnified. That means that person insured shouldn’t be making a profit from a loss. The insured should be financially put back where he or she started.
How someone can possibly insure mortgage payments confuses me. What confuses me even more is why we should be helping people that purchased these derivatives.
There should’ve been a disclaimer saying “payment is subject to economic conditions”.
good job thanx
PEACE
No offense to the original poster of this video, but to hear him explain it sounds like a fucking ‘shell game’ or ‘ponzi scheme’ …you know how allan greenspan can’t understand what all these mortgage backed securities algorithms really mean (and he’s supposed to be a brilliant economist)! Right now I’m wondering (A) If there is so much wagered money floating around what the hell did the u.s spend all this cash on? And what will we find once we open this pandoras box of transactions?
Very good point and let me add…I’ve heard that the amount of money ‘wagered’ is so fucking absurd that when it’s actually time to pay the prize, it will be 100 times the amount of total assets that the earth even posesses…this is fucking CRIMINAL, it’s like the entire world can go bankrupt at the push of a button somewhere*
So … Do the banks have a gambling problem or something?
Thanks!!
Good video, A criminal problem, the Insurance Derivatives, we’re not backed, there was nothing there. Its all a giant “hoax” on us the slaves. None of us own anything, our houses, cars etc,.the Central Banks & Government does. We are the callateral, for 1933 Bankruptcy Debt.
I believe that is the way the heist works. The bank and wagerer’s work together. They purposely mega over extend their derivative selling on purpose to their friends the wagerer’s. Now that they are over extended they install a puppet regime at the Whitehouse and some in congress and pass the bailout bill. And with the public so scared they let it through and bam, this constant funnel of taxpayer money right into there pockets is created. from 800 bil to 12+ tril in bailout money. Could be more.
PEACE
8.14 to 8.25, Excuse me sir, but wasn’t a mister Baraq Obama an attorney involved in getting those laws passed by the Carter/Clinton administration? Please Respond.
Barack, not Baraq
Thanks ! great job !!
nice shirt.
You may be thinking of his economic adviser, Larry Summers. Obama was young.
Good video.These derivatives should not exist at all.How can you take insurance on a bet or on things that you don’t own.Financial elite wasn’t satisfied what they were already making and created these tools and now things went terribly wrong THEY SHOULD NOT BE BAILED OUT PERIOD.These things are now layered and leveraged so much,to bail out the whole thing would take yearly GDP of the whole world many times over.Let the bastards collapse and rot!