Americas Silver Corp fka USAPF

[downsideup]

The problem is...

The system is creaking and groaning only under the weight of the problems that ARE being (if badly) addressed... and that is a smaller set of problems that are feather weights relative to the mass of the others.

The "wizards" of Wall Street... are being exposed. And what we hear is "pay no attention to the men behind the screen" ?

You can see the problems being revealed in the instance of BOA unilaterally and illegally attaching the bank deposits of account holders to back their derivatives liability... with supra-legal approval of the Fed ? What proper legal authority does the Fed have to rewrite our laws as they deem useful... when they find it convenient... to attach and transfer the value of the money you deposited in your checking account, to backstop investors in THEIR risk of failure, in derivative products THEY CHOSE to invest in ?

The problem in stark political terms, is that the events of 2008/2009 appear now that they may have constituted a defacto coup d'etat... operated by the banks, not against the United States government which they already controlled, but, in revealing that control, operating against the Constitution, and against the even more fundamental foundations of our law, by acting against the basic right and will of the people. We are a nation of laws no more. Fundamental legitimacy has been lost. The problem that reveals is not on Wall Street, but that is only because the bankers have all now finished moving into their new digs down there in Washington D.C., now wholly owned and operated.

The issue isn't "Congress"... or, "only" the control of Congress by money and banks, but the entire set of problems enabled by that control, beginning from the parallel actions in repeal of Glass-Steagal and the campaign finance "reforms" of the last few decades... leading to the supralegal powers WE SEE being exercised by the banks now. We can SEE that control being exercised now... while, in the face of it, Congress does nothing but adopt the deer in headlights stare. Congress is no longer accountable to the people, no longer cares what they think, has foreclosed their ability to enable real changes, and the people are only just now starting to become aware and angry, not yet to the point of "getting" WHY they should be pissed off about it.

The banks own the country... or think they do... and they are beginning to act like it, now, while expecting that their ownership entitles them to force you to pay for their mistakes, while insulting them from the risk of making them, and giving them the unfettered right to make more, and bigger, mistakes in the future.

The bankruptcy of banks, even when it exists in fact... has been made "illegal"... as if laws can prevent a bank from rupting itself, when it is able to, and has... or as if laws can prevent our recognition of the fact... by denying it ?

They will... and perhaps already have... bankrupt the United States government, too, in the effort made in trying to wrongly insulate themselves from the consequences of their choices... because there is no limit to the number of fraudulent obligations they can create, and no limit to the fraud that will be tolerated, when those who have enabled the largest frauds control the government.

For a generation, the package of reforms that was passed after the Great Depression "worked" to contain the most destructive natural impulses of bankers and a few other classes of thieves that will tend to populate the financial system, when allowed, but, that set of reforms worked as it did... AS a package.

Having removed the limits that Glass-Steagal imposed... means that none of the other measures that were passed then are sufficient to contain the problems that now result. And, because both the Democrats and Republicans politicians are wholly owned and operated by the banks, the problems that exist aren't even being addressed... but, continue to grow.

That the "package" of Depression era reforms is over-whelmed without the limits of Glass-Steagal, is made clear enough in BOA's single act having overwhelmed the capacity of the FDIC to sustain even the appearance that it can ensure any banks deposits are safe. The Fed... thinking a physical run on the bank can't happen, now, is requiring that one will occur ? The nervousness of a couple of "investors" in derivatives, concerned that they've invested too near "peak Ponzi" in derivatives, now justifies them in stealing assets from checking account holders ?

This is not going to end well. The Fed has clearly and grossly miscalculated... but, more to the point, those "investors" miscalculated, and that is their problem, not checking account holders problem... or, it should be.

There are untold trillions in derivative liability out there... which ARE untold specifically because Dodd-Frank made sure they'd remain untold... helping "cover up" the problems that exist.

Housing, unfortunately, was merely the tip of the banking fraud iceberg that rose to become visible. It was, what, maybe $3 trillion in the aggregate in the response that was mounted to address it ? BOA's derivatives liability alone is said to be $75 trillion, JPM's $79 trillion, and Goldman Sach's... 33,823% of assets ?

http://www.nakedcapitalism.com/2011/10/bank-of-america-deathwatch-moves-risky-derivatives-from-holding-company-to-taxpayer-backstopped-depositors.html

http://thebankwatch.com/2010/03/11/goldman-sachs-derivative-liability-33823-of-assets/

Without Glass-Steagal... the banks have inflated paper assets to the peak Ponzi level of being unsustainable, to the point of making the "value" in the promises of those paper assets into the very definition of pointlessness.

Either those who have invested in those instruments will be wiped out and take their losses as they should... or everything will be wiped out in the effort to sustain the fictions that the inflated bubble of fictitious obligations CAN be covered by taking things that are not fictions... from those who didn't invest in fictions.

They WILL try to justify that theft... while zeroing out bank accounts, and zeroing out holdings of DTCC held shares ?

I'm still not a total pessimist, believe it or not... but, you know, the first step... is admitting you have a problem, and we're still in denial.