Forum Post: SUCKERS!!!… While you are busy complaining about the protesters, Wall street is about to shove a $250,000 stick up the butt of every Man Woman and Child in this country.
Posted 13 years ago on Nov. 17, 2011, 10:03 a.m. EST by unarmed
(213)
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Yup, that's a $250,000 stick up the butt of every man woman and child, in the country. I couldn't believe it myself, even checked my math. $75,000,000,000,000 divided by 300,000,000 (the number of americans in the country) equals $250,000… Yup, that's right, DAMN!!!
No wonder they can afford to hire the entire NYPD, for protection.
Check for yourself
"There is not a single crime which capital will not commit for a 10% of profit." K. Marx
Great quote.
lets just try getting rid of derivatives first, then let's see what happens.
Thank you for this information. This is a perfect example why OWS needs to be marching in the streets. This is a perfect example of why we need to resist and revolt against the lying cheating bastards that have already stolen $16 Trillion dollars from the American people. When it all comes down, I look forward to Wall Street and Washington D.C. being gutted and thrown into prison... where they belong.
$16 Trillion is party money, compared to what's coming.
It is sad, man. I am sickened by it. I am not a violent person... but, these arrogant bastards deserve to be shot where they stand. Just like 1776.
And this is news? Why are earth do you think they are out there protesting Wall Street in the first place? Here is the deal, if the unemployment numbers keep rising--who is going to be left paying the bulk of these taxes? You can't bleed a rock. Those without jobs can't pay taxes. Right now, I believe the statistic is that 47% of Americans don't pay taxes. That number will go up.
Good luck trying to tax people who don't have jobs or make so little money. We definitely need to keep fighting this nonsense. The nerve!!!
Don't pay it!
http://stopblackfriday.com
did you miss the 79 trillion that JP Morgan did at the same time?
The title is misleading, this was done strictly by The Fed, not by the Federal Government.
It's already a done deal, happened on the same window of time that US drones popped Gadaffi's convoy and news of his killing was THE NEWS all over the world.
Not so much as a blurb about this on any mainstream media.
Wag the spinning dog, anyone?
Oh forgot, that's just B of A. The rest of the Banks are pulling the same scam. Could reach as high as (are you ready for a new word?) $1.4 quadrillion (that’s $1400 trillion) "Put together, the above-ground derivatives market plus the underground, off-balance-sheet derivatives market total an astounding $1.4 quadrillion (that’s $1400 trillion), according to Graham Summers at" http://thenewamerican.com/economy/markets-mainmenu-45/9536-big-banks-shift-their-derivatives-exposure-onto-us-taxpayers
Lincoln sold the citizens of the USA, and those of other civilized nations, to the private bank who is "legally" empowered to do this without so much as a referendum or even a congressional vote.
YEA. and he had a funny hat too
Lincoln has in fact instituted the debt-free money (greenbacks) by eliminating private central banks.
"I have two great enemies, the Southern army in front of me and the bankers in the rear. Of the two, the one on my rear is my greatest foe." -- Abraham Lincoln. He stopped bankers' debt-money plans, but got assassinated shortly after.
About 75 years later, banksters finally reverted the damage Lincoln caused, by passing the "Federal Reserve Act" of 1913. Since then US government has no control over its sovereign right: the financial freedom.
the US could not afford a war that cost 330 million dollars per person, in 1850 money, real money
the US was in debt before, and has never been out of debt since
Please watch the following non-fiction documentary movie to learn our financial history and our Founding Fathers and great men struggle against "money-changers".
The Money Masters - Full [3:16 hr]: http://www.youtube.com/watch?v=JXt1cayx0hs
To all #OWS supporters:
This article proves once again that OUR #1 PRIORITY MUST BE decoupling our financial sovereignty from all risk takers:
END FED AND ITS DEBT-MONEY PONZI SCHEME.
END FRACTIONAL RESERVE LENDING PONZI SCHEME.
INSTITUTE DEBT-FREE SOVEREIGN MONEY SYSTEM.
Here is a critical part from the article:
"So, the bottom line is this: When something bad happens, and the derivative obligations are triggered, the FDIC will be on the hook, thanks to the Federal Reserve. The counter-parties of Bank of America, both inside America and elsewhere around the world, will be safely bailed out by the full faith and credit of the USA. Meanwhile, the taxpayers and dollar denominated savers will be fleeced again. This latest example of misconduct illustrates the error of allowing a bank-controlled entity, like the Federal Reserve, complete power over the nation's monetary system. The so-called "reforms" enacted by Congress, in the wake of the 2008 crash, have vested more, and not less, power in the Federal Reserve, and supplied us with more, rather than less instability and problems."
[1] http://occupywallst.org/forum/to-all-ows-supporters-worldwide-one-unified-demand
[2] http://occupywallst.org/forum/government-of-the-world-you-know-it-we-know-it-sto
If you show your hate, you will create hate. If you show your love, you will create love :)
Not a problem for the folks in debt up to their eyeballs. The massive inflation this will cause will effectively erase their debt. When minimum wage hits $10,000 per hour that $400,000 mortgage wont seem so bad. Kind of sucks for savers like myself though. I'll have to take $50,000 out of savings to go to the movies... Alone!
gee
You people have so many "causes" and "ideals"......you are not organized and te best you cam come up with is a blog with forums as a way to "change a nation"?????????? Ou people are sad.....if you want to accomplish ANYTHING you would be wise to get more organized, elect a leader, and have some goddamn sense about how you go about business.
Yeah banks are about to fail again, with the crises in Italy, Greece and Spain.
I wonder who's going bail them out this time.
That story is from October.
What does that matter? 1 month, just how does that make a difference?
It means while you were busy not complaining, you didn't notice either.
I don't understand your concern over the date of this article. The fact remains that these FDIC insured derivatives will have an effect on you, your kids and your kid's kid's for years to come, in the event they go bad and we are left to pay. Agreed?
Why did the US people borrow so much, with no intention of paying it back? The loans and mortgages are so toxic now, that the average tax payer needs to pay for it so the USD doesn't hit the floor. Maybe if we just learn to live within our means we wouldn't have these problems. That includes the banks, and the McDonalds employees with $500,000 houses.
Everyone should quit paying taxes until the government can prove they are responsible with our money.
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Oh forgot, that's just B of A. The rest of the Banks are pulling the same scam. Could reach as high as (are you ready for a new word?) $1.4 quadrillion (that’s $1400 trillion)
"Put together, the above-ground derivatives market plus the underground, off-balance-sheet derivatives market total an astounding $1.4 quadrillion (that’s $1400 trillion), according to Graham Summers at"
http://thenewamerican.com/economy/markets-mainmenu-45/9536-big-banks-shift-their-derivatives-exposure-onto-us-taxpayers
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It means while you were busy not complaining, you didn't notice either.
Just a thought but you're not going to attract people by calling them names. I'm just saying....
Stealing $250,000 dollars out of their pockets, doesn't seem to bother em, and you think being called a "SUCKER!!" will?
I'd say your headline probably would keep a lot of people from even reading the rest of it. I get the deal in your OP but insulting people you are trying to inform is not a good way to do it.
Call it tough love. I certainly would not be offended by someone that called me a "SUCKER!!" for allowing my pockets to be picked to the tune of $250.000 dollars. To the contrary, I'd be grateful for them pointing it out.
No one picked your pocket my friend. Also one thing you seem to forget. The 1% paid 40% of that bill and quite a few Americans(47%) paid nothing.
Are you sure it's not the government putting the wood to your ass? Get a clue dude.
No, it's the Banks that have bought the Government, making this sort of monumental thievery possible (legal). It's the Banks that have the GAWL to pull this type of chit.
LOL....this is a PERFECT example of the ignorant mentality of OWS. "Sucker"....did you catch the part in YOUR link that this stuff must get FEDERAL APPROVAL?! No...ofcourse not....because you are too busy with your class warfare ideology. Its not about "inequity" its about ENVY. Policies that promote "inequity" are made IN WASHINGTON.....not Wall Street. No bill or public policy has ever been signed or drafted by anyone on Wall Street.
Good grief people....quit being ideological sheep and start researching and thinking for yourselves.
The Article reads quit clear that, B of A is shifting 75 TRILLION dollars in risky derivatives to accounts that are FDIC insured. Which means that if the derivatives tank, the AMERICAN TAX PAYER will be stuck to pay the bill. What part of this is it that you don't understand?
"Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion."
I'm pretty sure it doesn't matter what division is holding the asset. I'm pretty sure a derivative is NOT an FDIC insured account.
Read, it's even printed in ENGLISH!
Take note of these letters in particular "derivative" AND "FDIC insured"
"Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion."
That doesn't say the derivatives are FDIC insured. It says they have been moved to an FDIC insured retail division. Which okay fine, checking accounts in that divisions are FDIC insured. But it does not say anywhere that the FDIC will be insuring those accounts.
For example. If I go to my Chase branch where I have a checking account and open an IRA and invest in mutual funds, the checking account is insured but the IRA isn't. Even though I opened it at an insured location.
Got it now?
People just believe what they want to believe, so long as it fits their agenda.
You have a very poor understanding of the English language, my friend. You are RIPE for the picking.
No I can read quite well thank you. In addition I actually know how retail banking works. Also, even if the Fed gave it's blessing, there's now way the losses would be covered in the current political environment.
So, cut to the chase. You are perfectly fine with this type of arrangement?
I'm not going to throw myself into a tizzy on the opinion of ONE man, if that's what you're asking.
SO, you are going to claim now that "ONE man", me, made all this up just to send you into a tizzy? You – Have – Got - To -Be - Kidding, right?
I didn't say you made it up. The man who wrote the article did. Given the complexity of the situation, his word is not law, so therefore yes, it is an opinion.
I'm not responding to your non-sense until you click the link below and spend a few minutes educating yourself. The link below is a simple google search "75 trillion Bank Of America".
http://www.google.com/#sclient=psy-ab&hl=en&source=hp&q=75+trillion+bank+of+america&pbx=1&oq=75+trillion&aq=1&aqi=g4&aql=&gs_sm=c&gs_upl=1445954l1449500l5l1451749l11l7l0l4l4l0l204l999l2.3.2l10l0&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=10fdbfeac7700d5f&biw=1918&bih=944
So you might have a bank and its subsidiary exploiting a loop hole. Simple solution. Close the loophole.
Sounds good to me, let's close the loophole. Right now it's wide enough for a truck filled with $75 trillion to get through.
Like I said though, from a standpoint of practicality and the current political climate, I'm not betting my farm there would actually be a payout.
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Do you understand the function of the FDIC?
@OP Why are you people so anal?
http://www.usdebtclock.org/ me thinks the US debt clock needs an additional parameter to include the extra $250K per every US citizen...
I am more concerned with the 4 trillion Obama just added to our deficit.
Banks are legitimizing their $1,400T worth of risks on the People by moving those assets under the FDIC shelter. When those bets fail, US governments (that means us, including you) will be forced to pick the tab.
Are you really sure that you are not afraid more?
Learn who is in control of this. You are sadly very misguided. Sending young and ignorant kids to fix a big boy problem.
Of course, TROLL, I forgot who you are.
That's your only defense? Your ability to prove your case is weak.
Here is my defense, including articles mentioned in it and their references.
http://occupywallst.org/forum/suckers-while-you-are-busy-complaining-about-the-p/#comment-375908
ridiculous.
That's your only defense? Your ability to prove your case is weak.
You didn't present a case. You provided a link to the forum we are already on. Thanks for your help with navigation.
haha
LOL. The first link was my post, so was the links referenced by it.
and we are congratulating you for figuring out the forum controls.
I don't know why am I doing this?
Rex, 'permalink' that you see under the post gives you the subsection reference within that web page. Click on it, then the Web address is your handle for that subsection.
You know what. If I were your TROLL boss, I would fire you immediately. You are helping our cause to keep this important message visible. Tq.
I act freely without the constraint of thought. I am the 99 percent.
Ok. From that article..the closing statement: "Profits will continue to be privatized and losses socialized."
Are you happy with it?