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What's the one sign to watch for?; entered at 2012-06-09 10:53:22

Ponzi_unit
Posts: 8121
Registered: 2007-09-05

I consider myself pretty smart for finding TickerForum but I also consider myself not as smart as most of the posters who post here but what worries me most is when my first reactions and opinions dating back to 2007 regarding this credit mess are now being tabled as solutions - by certified smart people!

So I guess the one sign to look for is TickerForum group-think thoughts and opinions proving true. There are thousands of these individual opinions, surely at least one each per registered TF user.

As an example:

I'm not college trained but I understand fifth grade math real good. Instead of using math I like to try to picture things. Our debts and the promises made to us by those who would lead are the marbles and Ben & Co. and those who would lead us control the sticks. We reside below.

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So when this picture set in my head I realized there is really no way to win this game as the rules of the game insist that players remove support for the marbles a piece at a time with the whole point of the game to separate the first loser from the last loser because eventually - all marbles must fall, all must lose, all debt must be retired.

If people reside on the impact zone, and our goal is to make this game about winning instead of losing we have to fundamentally change the game. We have to cheat. If it were me, I'd simply remove the marbles first and then remove the sticks! Doh! Why didn't Ben & Co. think of that?

Instead, Ben & Co. carefully examine the marbles and what supports them all the while appearing considerate as to who resides below and which impact zone is most likely to be effected and they attempt to add more sticks. If you're going to cheat to win the game, why not simply remove the marbles from the top and then you're not playing for who gets marbles dropped on their head the least, where everybody loses - instead the point of the game is does anyone have marbles dropped on them at all, where everybody can win.

So with that said, in 2007 one of my first reactionary statements to the discovery of how the game effects my life was to suggest in 2007 that...

Quote:

http://tickerforum.org/akcs-www?singlepo....

With an organized unwinding, a Treasury/Fed sponsored swap meet those bets can be unwound, one at a time with every participant taking their share of the losses.

It's an interesting tug of war: some banks want others to fail, some want to survive, throw in broken laws and international interests (read: the greater sucker buyers) unlikely to come to the table and chaos ensues.

Taken on it's own and in context with the theme of this thread I've simply presented a pre-school level argument for changing the game so there are more winners and less losers.

What frightens me the most is that now people who I consider much smarter than me are proposing the same thing. I mean, he was an Assistant Secretary for the Treasury and he used to write for the Wall Street Journal and he's only just now suggesting what I suggested in 2007?

I used to drive a truck for a living and lack a college education smiley

Quote:

http://www.counterpunch.org/2012/06/06/t....
Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.

It reminds me of the time when I was eighty miles offshore (first time) in a 20 foot boat pinched in between 2 colliding thunderstorms with lightning striking the water all around us and the Captain and his experienced First Mate looked to me for suggestions as to what we should do. Well I figured we might be screwed right at that point seeing that my fearless crew leaders showed signs of fear but they finally took charge and steered out way out.

So there's literally thousands of examples all over TF. Many started out in TIN and worked their way to general. I recall labeling Paulson and Co as traitorous for threatening the sovereignty of the United States of America and similar claims have worked their way to the main street media many times over.

Basically, until we see a game changing effort, debt bombs will continue to rain down on our heads until all the debt is exhausted. Since we're in a game where everyone loses, we simply have to look around and count who has nothing left to lose to decide how far we are from the end of the game. Iceland would be an example of a country who's not playing the game anymore in my opinion so there's at least one sign.

Last modified: 2012-06-09 11:00:29 by ponzi_unit

2012-06-09 10:53:22


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