On Mar 11, 11:10=A0pm, visualseep...@[EMAIL PROTECTED]
wrote:
> When it hits, it will dwarf the sub-prime mortgage fiasco by a factor
> of 100 to 1. =A0Its the difference between a stick of dynamite and a
> nuclear weapon.
>
> The sub-prime mortgage crap is at best a 1 trillion dollar write off.
> By contrast, the derivative timebomb is a 500 plus trillion dollar
> super weapon waiting to go off.
>
> It will go off with a T minus 5 second warning so you won't even have
> time to run.
>
> The problem with modern capitalism is too many bankers, economists,
> lawyers and assorted bullsh*tters have put in place one scam built
> upon another scam. =A01 dollar made the honest way is turned into a 1000
> dollars not by producing any useful, saleable product but by creative
> accounting.
>
> The fake economy as I will call it is about 90% of the gdp. =A0The real
> economy may perhaps be anywhere from 10 to 30% of quoted GDP. =A0 The
> more an economy becomes 'developed', the more the books are cooked.
> Finally you to the point where you have the US producing little but
> claiming a 15 trillion dollar GDP.
>
> This fake accounting being promoted across the world must come to an
> end. =A0The only way it can is if currencies are backed by precious
> metals and commodities and there are audits of these claims by the
> UN.
I dont know what the solutons are but yer analysis is about 99%
correct imo
Phil Scott
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