Like the Monty Python Black Knight, the global banking system keeps getting various limbs whacked off yet continues to yell, ‘Tis only a flesh wound’. So here we are, the latest hyper-credit rated real estate hysteric scam operation going underwater: Dubai is doomed. Although some foolish people might try to keep it afloat like the foolish US tries to keep dying AIG afloat, it is sinking and will cease to be except as a joke or a warning to others. The joy over the news that Abu Dhabi would bail out Dubai has faded as the sheik himself warns everyone, he won’t pay for all losses.
Monthly Archives: November 2009
Free trade causes global warming. Instead of encouraging trade balances, local buying and stopping the madness, the people peddling carbon trading derivatives want to tax us for using anything on earth while they continue to push moving things around the planet using thousands of ships that pollute the environment. On top of this, the collapse of Dubai’s finances once again, shows us that the entire concept of derivative swaps is a Ponzi scheme. It is wishful thinking, believing that any derivatives scheme will protect all systems from collapse. I say, it causes collapses. Continue reading
The previous story was very long, as usual. I left out the business about how GE is now divesting itself of all the manufacturing, profit businesses due to its stupid lending such as the loan it gave the DC welfare queen. Also, there is Derivative Beast news as well as news about how a German banking person played money games with money saved by others to make herself look generous and goodly. Bad morals run rampant. It is theft to take other people’s money and move it (even for one day!) to a total stranger’s account. Continue reading
Absolutely no surprise to me, Dubai is going more bankrupt than Iceland. The global funny money credit game was tons of fun for pirates, gnomes, wizards, the Queen of England and US homebuyers with no incomes or legal standing. But it has been a total catastrophe for the rest of us. Savers in particular, have been hammered by this careless, insane lending spree. Now, part 2 of the Great Depression II enters the scene with the massive default of the entire Dubai business taking down Abu Dhabi. Continue reading
A happy Thanksgiving to everyone! We had to cancel the family dinner due to the only person in our family who was unable to get the flu shots got sick with the flu (interesting, isn’t it? The ones who got the shots are healthy!). In Nepal, Hindus are having a 5 year ceremony where they butcher many animals. This is done to placate a goddess so she will give them wealth. This is all about the Cave of Wealth and Death and illustrates my point, how human brains really operate, deep inside. Continue reading
This forlorn, futile ‘decision’ was made long ago and far away. Obama gets to salute endless body bags as the dead are carted home. Welcome to Imperial hell, soldiers dying, bankers stuffing their bags with loot while the US military/industrial complex plunders the public purse. Oh, and national healthcare is communist! We can’t afford it, obviously. Not when we must pay for dead bodies overseas, endless dead. And to think the Obama won the Nobel Peace Prize. Will this horrid man return it, burning with shame? Or will he fill his goblet with blood and laugh? Shame on him, just shame on him. Continue reading
Thanks to the Federal Reserve and the Treasury, the international banking gnomes are rapidly trading paper money—or rather, computer digits—for gold. This flood of gold flowing into the hands of the gnomes then moves to HSBC which is a European bank with vaults in midtown Manhattan. Now, they have to move it because it is too much and guess where it is going? Its a secret! HAHAHA. Actually, ask JP Morgan’s Dimon: he runs the Fed gold vaults on Broad Street in Manhattan. Continue reading