Fiscal Cliff: Let's Call Their Bluff [View article]
"Simon Thorpe, a financial blogger in France, cites figures from the Bank for International Settlements, showing total U.S. financial transactions of nearly $3 QUADRILLION in 2011. Including other sources, he derives a figure of $4.44 QUADRILLION. Even using the more “conservative” $3 quadrillion figure, a tax of a mere 0.05% (1/20th of 1%) would be sufficient to raise $1.5 trillion yearly, enough to replace personal income taxes with money to spare"
Obviously the people initiating these transactions have an extra $1.5 trillion that they're willing to hand over to the taxman. LOL!
The Trade Deficit Grows The U.S. Debt [View article]
"Hmmmmm, would that be like UBS, Barclays, BofA, GS, or the dozens of other large privage mega banks with literally dozens of multi-billion dollar frauds"
A bank commits fraud, punish them.
"The Bank of North Dakota is a paragon of virtue in comparison to the worldwide network of organized crime which call themselves the mega international banks"
Sure, but a Bank of Illinois would also commit organized crime. The difference is Illinois taxpayers would be on the hook for the billions in losses caused by corrupt insider loans.
"The LIBOR frauds alone are estimated to have affected over $500 trillion of good and services over the past years"
Some banks tried to raise the LIBOR rate while others tried to lower it. What was the actual impact?
Ellen makes silly claims, she knows nothing about banking and finance. I'm sure she's a swell former lawyer though.
Fall Down Friday: Cliff Diving Special [View article]
"In fact, almost 50% of the taxes we do collect (over $1Tn) are from the people who pay into those programs with the expectations that we will, in fact, honor our obligation so, if you do decide to screw the current payees of SS and Medicare - how do you expect to keep collecting money from the next generation of people you intend to screw?"
We made unrealistic, unaffordable promises. Recognizing reality is not screwing current recipients. Continuing to pay them much more than is justified by their actual contributions will screw all who come after them.
As far as collecting from the next generation, we'll do it the same way we always do, at gunpoint. Glad you're posting here again, I missed your unintentional humor.
The Nation's Balance Sheet And Crowding Out [View article]
" For example, in the last 12 months didn't the Fed buy something like 80% of the new Treasury issues, albeit by rolling over a lot of shorter-term holdings?"
One year ago the Fed only held about $145 billion in Treasuries maturing in one year or less. Now they hold $400 million.
Total Treasury holdings $1.653 trillion on 12/5/12 versus $1.675 trillion on 12/7/11.
"still funny they don't know how to make money with even THAT going for them"
Don't know how to make money? They made almost $19 billion last year, over $17 billion the year before last. Over $14 billion in the first 3 quarters of 2012.
Fiscal Cliff: Let's Call Their Bluff [View article]
Obviously the people initiating these transactions have an extra $1.5 trillion that they're willing to hand over to the taxman. LOL!
The Trade Deficit Grows The U.S. Debt [View article]
FRNs require no interest.
"forcing the colonists to accept the "debt" or "fiat" money* issued by the Bank of England."
English money was debt? Please explain further.
The Trade Deficit Grows The U.S. Debt [View article]
A bank commits fraud, punish them.
"The Bank of North Dakota is a paragon of virtue in comparison to the worldwide network of organized crime which call themselves the mega international banks"
Sure, but a Bank of Illinois would also commit organized crime. The difference is Illinois taxpayers would be on the hook for the billions in losses caused by corrupt insider loans.
"The LIBOR frauds alone are estimated to have affected over $500 trillion of good and services over the past years"
Some banks tried to raise the LIBOR rate while others tried to lower it. What was the actual impact?
Ellen makes silly claims, she knows nothing about banking and finance. I'm sure she's a swell former lawyer though.
Fall Down Friday: Cliff Diving Special [View article]
Projected savings? How is that "raiding the pension fund"?
"A third sign of looting comes from the fact that the Bain-backed GST management was warned several times that the pension was underfunded"
Underfunded? How do you raid an underfunded pension?
Thanks, those were nice stories.
Didn't prove your claim, but thanks for trying.
Who claimed Romney invented anything?
Fall Down Friday: Cliff Diving Special [View article]
How did that work exactly?
When you get a chance, explain which pension funds Romney raided.
Any links you have would be appreciated.
The Trade Deficit Grows The U.S. Debt [View article]
Just what we need, corrupt state governments making politically motivated loans to insiders.
Solyndra loans for everyone, backed by state taxpayers. Great idea!
Most of Ellen's ideas are at least as bad/confused as this one.
Fiscal Cliff: Let's Call Their Bluff [View article]
Fall Down Friday: Cliff Diving Special [View article]
Who are you kidding, your looter won!
Fall Down Friday: Cliff Diving Special [View article]
You have a source for these numbers?
Fall Down Friday: Cliff Diving Special [View article]
We made unrealistic, unaffordable promises. Recognizing reality is not screwing current recipients. Continuing to pay them much more than is justified by their actual contributions will screw all who come after them.
As far as collecting from the next generation, we'll do it the same way we always do, at gunpoint.
Glad you're posting here again, I missed your unintentional humor.
The Nation's Balance Sheet And Crowding Out [View article]
$726 billion in net buys. Versus about $1.3 trillion in new debt.
The Nation's Balance Sheet And Crowding Out [View article]
One year ago the Fed only held about $145 billion in Treasuries maturing in one year or less. Now they hold $400 million.
Total Treasury holdings $1.653 trillion on 12/5/12 versus $1.675 trillion on 12/7/11.
80% is way too high.
The 'Crash JPMorgan' Campaign [View article]
I thought he wanted more inflation?
Why would he keep the PMs down?
The 'Crash JPMorgan' Campaign [View article]
No they don't.
"(check GAO FED Audit pgs. 130-31)"
Link? A search of that shows no proof of your claim.
The 'Crash JPMorgan' Campaign [View article]
Don't know how to make money?
They made almost $19 billion last year, over $17 billion the year before last. Over $14 billion in the first 3 quarters of 2012.
I think they know how to make money.