"Debt acceleration is the main factor in determining asset prices. Asset bubbles therefore have to burst, because debt acceleration cannot remain positive forever." http://www.debtdeflation.com/blogs/2012/01/03/the-debtwatch-manifesto/"Instead, its main effect was to dramatically increase the idle reserves of the banking sector while the broad money supply stagnated or fell, (see Figure 13), for the obvious reasons that there is already too much private sector debt, and neither lenders nor the public want to take on more debt."  |
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Banks are holding those homes because selling them will result in a loss on their books.
If the bank has a loan on a house valued at 300k and the owner forecloses, their books show that they now have a 300k asset.
With the drop in the market that house may now be valued at 100k or less.
If banks dropped all of their foreclosure homes, their earnings reports would show huge losses and scare off investors making their stocks plunge. So keeping the properties at their inflated value is to their advantage even if the house crumbles into a heap of wood.
It is a flaw of only appraising a home's value at the time of purchase. If there were yearly appraisals these homes would be dumped left and right.
yes, the drop in housing values should've forced a mark to market event thus blowing a huge hole in most banks balance sheets on the asset side thus forcing bankruptcy and clearing out the bad lenders. but NO, Ben has to step in a buy all those bad assets, bring them into the Fed under the guarantee of the US taxpayer who is responsible for paying those things off if and when they default, paying in terms of the minimal debasement of the USD by taking the balance from $800B to $2.8T, and the continuation of the same institutional corruption that should've been cleared out by BK's. thus we get the wipeout of the middle class with the elite getting their incomes shoved ever higher and the lower classes seeing their incomes get shoved ever lower. an elongated hourglass configuration. |
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Vlad, are u still moving forward with your ASIC mining project?
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there's no replacement for keeping good records.
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The above bank statement is incomplete and misrepresents the facts of the matter. Tony Gallippi was informed about that.
Hey Vlad, are you going to try and charge for your time posting to this thead  hey, i have an expense account labelled "Defending My Integrity"! |
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the above bank statement is incomplete and misrepresents the facts of the matter.
for god sakes man, your integrity is on the line here. you need to be more specific than that. |
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i was meaning to ask; what's gives with the 12/11/12 date?
12 November 2012 lol. duh. |
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I have copies of the Lloyds bank statements and PayPal history of Bittalk Media, which Vladimir willingly shared with me. I honestly have not had time to sort through them beyond just the most recent transactions. However I can confirm that on the day of 12 November, Vladimir paid himself 4552.80 GBP. Here is a screenshot of the transaction history given to me by Vladimir.  This was the exact day he resigned ( https://bitcointalk.org/index.php?topic=123857.msg1330827#msg1330827 ) and while he was still in control of the bank account. To my knowledge, he is still in control of the bank account today, despite having resigned all duties as a Director and employee. I looked at the invoices that are posted on http://codinginmysleep.com/the-bittalk-media-meltdown/ and I have similar copies in my files, which I received from Vladimir directly, so I can verify their authenticity. i was meaning to ask; what's gives with the 12/11/12 date? |
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wow, i've always supported Vladimir since day 1 but those invoices don't paint a pretty picture. virtually all those billed activities in a startup involving purely motivated principals with a like-mind mentality would be voluntary. i know i'd be pissed if i received bills like that. that's why my attorney and i have a love/hate relationship; he bills me for almost every move he makes but in the end he usually gets the job done. |
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how did you get so rich cypherdoc?
years of hard work and dedication have made me rich by some ppl's definition. but perhaps not others. I figured you inherited some, and fished it a little bit about it one time for shits-n-giggles back when we were mortal enemies. That was about the time someone fingered your real identity and his hit looked right. Interestingly we might be in a generally similar wealth category in addition to our other similarities. I happened to be able to do a reasonable well paying series of jobs reasonably well for the last 1.5-ish decades, and since I grew up poor I never broke the habit of living like a pauper. Worked my ass off as well to in part to make up for a deficit in formal education...at least in the vocation I fell into. G.W. Bush and his idiotic (or not) wars happened at an opportune time and got me researching things, paranoid, and sinking my excess funds into a couple of elemental substances which have panned out well so far. I have more hope than ever that Bitcoin will be _the_ 'retirement event' for me, and it looks as promising as ever, but it is very far from something I am counting on. no significant inheritance here. just a few thousand a couple of years ago after my last parent passed away and well after i became established. grew up in one of the worst parts of my country and was forced to pay my own way all the way thru my educational years. of course thats when tuition for my final year at my higher ed school was a mere $1400 max. truly, truly and incredible bargain. a comparable inflationary measure for that degree is now comparable to the move in Apple stock btwn the bottom in 2002 to now. and that is probably why i am now a deflationist and short Apple. just how can any of us afford to let it possibly inflate any higher? |
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Miscreanity; have you ever bought a piece of real estate?
Regarding your post on real estate, we appear to have diametrically-opposed perspectives on investing in it. Although I've flipped, my primary focus has been commercial revenue generation. Price appreciation is always a secondary concern behind flow of funds. This is a long-term vs. short-term split. In terms of consistency, the former is like farming and the latter is closer to hunting; neither are guaranteed, but the former is less likely to result in going hungry. Yes. that's good as i hope it gives you a better understanding of the importance of the debt buildup. i wonder though whether you invested in a consortium or as an individual. all my RE deals have been done individually and there were times where i personally was responsible for making mortgage payments of over $12K per mo. while i never had to be in a position of defaulting on a payment, there was always an uncomfortable nagging feeling of having that much exposure. i made a decision around 2008 to pay everything off and now have had the benefit of being debt free for almost 5 yrs. it is truly liberating. iirc, after 30 yr of a fixed mortgage on a $1M loan you will have paid approx $3.5M back to the bank. someone throw that into a mortgage calculator to check my numbers. certainly if the USD drops during that time and the RE goes up you're good; but if deflation kicks in caused by some trivial little currency like Bitcoin, then you're in big trouble. wouldn't bitcoin cause inflation? how did you get so rich cypherdoc? years of hard work and dedication have made me rich by some ppl's definition. but perhaps not others. |
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Miscreanity; have you ever bought a piece of real estate?
Regarding your post on real estate, we appear to have diametrically-opposed perspectives on investing in it. Although I've flipped, my primary focus has been commercial revenue generation. Price appreciation is always a secondary concern behind flow of funds. This is a long-term vs. short-term split. In terms of consistency, the former is like farming and the latter is closer to hunting; neither are guaranteed, but the former is less likely to result in going hungry. Yes. that's good as i hope it gives you a better understanding of the importance of the debt buildup. i wonder though whether you invested in a consortium or as an individual. all my RE deals have been done individually and there were times where i personally was responsible for making mortgage payments of over $12K per mo. while i never had to be in a position of defaulting on a payment, there was always an uncomfortable nagging feeling of having that much exposure. i made a decision around 2008 to pay everything off and now have had the benefit of being debt free for almost 5 yrs. it is truly liberating. iirc, after 30 yr of a fixed mortgage on a $1M loan you will have paid approx $3.5M back to the bank. someone throw that into a mortgage calculator to check my numbers. certainly if the USD drops during that time and the RE goes up you're good; but if deflation kicks in caused by some trivial little currency like Bitcoin, then you're in big trouble. |
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Miscreanity; have you ever bought a piece of real estate?
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it wasnt random wtf sell.
15k sold right before daily candle close.
ya i noticed that too, he was trying to paint an ugly daily candle. once again proving, that someone was trying to scare everyone into dumping. very good Adam. we had that crap going on back in the Spring which i highlighted for my subs. |
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