Since derivatives like CDS don’t have to be tied to anything real, you can create them out of futures, thin air etc. - and its has been done and created by the banksters - who have done and is responsible for the derivative crimes -
..the banksters robberies be awarded with the peoples money; by bho -
..and the peoples money be used to pay for the banksters crimes; by bho -
e.g.; 700 TRILLION..that is what the estimate is for banksters derivatives!!
..compared to people hard earned tax dollars -
..the People should oppose that their hard earned tax dollars be used for the banksters bonuses and bailouts, by bho -
..which the people and their children may be in debt for the next 100 years -
..all for the banskters robberies; by bho awarded with bonuses and bailout!?
..don't make any common sense of fairness & legality to me, imo.
bottom lines; New York-based AIG faced intense public and Congressional criticism last March when it paid out hundreds of millions of dollars in retention bonuses to employees months after receiving the government bailout.
When the credit crisis hit in the fall of 2008, the U.S. government rescued AIG from the brink of collapse in exchange for an 80 percent stake in the insurer.
AIG's near collapse was not due to its traditional insurance operations, but instead risky derivatives contracts written by the financial products division. --
In The News Posted: Jan 28 2010 By: Jim Sinclair Post Edited: January 29, 2010
FYI..btw.. all ponzi schemes want to be bailed out - with your money - all want more your money to more bonuses - all gangs want more and more.?. its up to you.?. all want you to give up all your rights.?.
700 TRILLION..that is what the estimate is for banksters derivatives!! FIAT CURRENCIES DOOMED!
The government plans to raid our retirement savings too, will hijack 401ks to pay for it all since they refuse to stop spending.
"The government is like cancer. It will continue to grow and choke off its host until we die. We need good surgeons like Dr. Paul"; by Montanore thanks,
Article 1, Section 8, Clause 5 grants only to Congress the power "To coin Money [and] regulate the Value thereof", with no provision for such power to be delegated to any other group.
Congress began immediately to fulfill this obligation with the Mint Act of 1792, establishing a US Mint for producing Gold and Silver based coin, prescribing the value and content of each coin, and affixing the penalty of death to those who debase such currency.
Article 1, Section 10: "No State shall ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts".
Thus, the Constitution forbade the States from accepting or using anything other than a Gold and Silver based currency.
Money functions as both a medium of exchange and a symbol of a nation's morality.
The Founding Fathers established a system of "coin" money that was designed to prohibit the "improper and wicked" manipulation of the nation's medium of exchange while guaranteeing the power of the citizens' earnings.
The federal government has departed from - the principle of "coin" money as defined by the U.S. Constitution and the Mint Act of 1792 and has granted unconstitutional control of the nation's monetary and banking system to the private Federal Reserve System.
The Constitution Party recommends a substantive reform of the system of Federal taxation.
In order for such reform to be effective, it is necessary that these United States:
* Return to the money system set forth in the Constitution;
* Repeal the Federal Reserve Act, and reform the current Federal Reserve banks to become clearing houses only; and
* Prohibit fractional reserve banking.
It is our intention that no system of "debt money" shall be imposed on the people of these United States. We support a debt free, interest free money system.
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