Who cares if its all a lie and a giant Ponzi scheme as long as I get MINE!
By Daniel at 26 December, 2009, 2:19 am
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I find it hard to believe that “broker dealers” decreased their Treasury holdings in 2009.
The Fed’s primary dealers (”too big to fail” institutions like JPM, GS, etc) are borrowing from the Fed at 0% and lending it back to the Treasury at 4% - essentially a risk-free arbitrage (BTW, this is the real bailout - not TARP).
My assumption would be that those “missing” bonds are really held by the largest banking institutions - however, maybe not accounted for as such due to some kind of fancy repo arrangement.
And yeah, the monetary system is definitely a massive legalized Ponzi scheme.
Who cares if its all a lie and a giant Ponzi scheme as long as I get MINE!
Screw the coming generations, what did they ever do for me?
I do feel kind of sad for the suckers who built this country through hard work and sacrifice (you know, people like our grandparents and great grandparents) who were stupid enough to leave it all for me to plunder but hey, under capitalism thats the way it works. Don’t hate the player, hate the game. The poor schmucks who listened to JFK about asking not what your country can do for you but what can you do for your country got the life they deserved.
Merry Christmas to all and will the last person out of this soon to be bankrupt country (both financially and morally) please turn out the lights. Hey, I guess I’m concerned with energy conservation after all!
- Frank
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