Reply #130: Ace in the hole ...............

[dothemath]

There is still an 'ace in the hole' no one is talking about, as far as I know.
And that would be eliminating the reserve that banks are required to have in cash as a percentage of the amount of money they can lend. No reserve requirements - codified by our elected representatives - ergo, banks, by definition, cannot be insolvent. Can't be broke. Can't be closed. Bonuses for mismanagement will rise to billions of dollars. Is this a great country, or what?

It has de facto been eliminated already through manipulation of what their obligations are versus myriad ways of covering up the true picture. One example - hundreds of billions of dollars of non-performing loans just don't quite get posted as such until the bank decides they are non-performing. What's the big hurry? Particularly in today's climate of taxpayers ultimately being on the hook for losses - period. And if the people in power ignore the fact that we are not far from the time when China, Japan, Saudi Arabia, Europe, et. al. lay claim to what they own - that would be us/US - we will have the new world order the neocons have so fervently desired. The form it takes won't be quite the one they had in mind, though.

The crash of '29 will be a walk in the park compared to what is coming. And it is coming.