Replies to post #44490 on Politics and Money

[GEO928]

pn....IMO.....you've made the most commonly made mistake....and, by doing so, you have reinforced/validated the premise which is the basis of the vilification of Wall Street....

very simply....(and, I am NOT trying to be insulting)......you've bought into a fabrication....

read the last half of your sentence....and, remember, the article was about derivatives....

There's people who get government checks and then there's the banksters who take wealth away from the population.

how are banks taking money away from people via derivatives? derivatives have nothing to do with the general public

derivatives are financial instruments which are valued based upon other paper instruments....

derivatives = paper with a value based upon another piece of paper...

reality.....derivatives give "banks" the ability to create money out of nothing....LITERALLY....

why do you think the government bailed out the "evil bankers"?

why do you think the fed will insure derivatives in the future....???

derivatives are the biggest scam ever levied upon a financial system....

[properlynumb]

Please keep in mind; these banks are guaranteed by the US Government....
The American tax payer and it's assets.

The derivatives are real.
The notional value could be lost in it's entirety.
That would drive the economy back to the stone-age.
The baker couldn't borrow to get flour.
Every transaction would require a larger pile of cash.
Cash that the debtors need to pay the notional value of derivatives.