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Author Topic: Bank of America's Death Rattle  (Read 1520 times)
P4man
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October 29, 2011, 09:33:14 PM
 #1

I found this quite... interesting, thought some of you might too:

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=7505

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October 29, 2011, 10:02:08 PM
 #2

All the big mega banks will eventually fail.
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October 29, 2011, 10:07:45 PM
 #3

Thats not what I would get wound up about; its the fact they are offloading their losses to the tax payer in such a blatant way. Its a cliche, but socialism for the rich in its purest form.

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October 30, 2011, 12:21:44 AM
 #4

Worst-case scenario for failing mega-banks:
  • As many liabilities will be dumped on goverments
  • Remaining assets will be marked-to-market
  • Anything of value will be acquired by stronger firms

In effect, the biggest banks will consolidate their strengths. As you pointed out, they'll off-load or socialize the losses.

The real losers in this are governments. Banks can simply shift their operations to another region, but governments are geographically locked-in and will have to either relinquish control or fight for survival.

An excellent indication of what's coming is posted here.
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November 01, 2011, 01:31:32 PM
 #5

I wonder if you could have you'r govermental offices in another country.



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Melbustus
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November 01, 2011, 08:32:03 PM
 #6

Worst-case scenario for failing mega-banks:
  • As many liabilities will be dumped on goverments
  • Remaining assets will be marked-to-market
  • Anything of value will be acquired by stronger firms

In effect, the biggest banks will consolidate their strengths. As you pointed out, they'll off-load or socialize the losses.

The real losers in this are governments. Banks can simply shift their operations to another region, but governments are geographically locked-in and will have to either relinquish control or fight for survival.

An excellent indication of what's coming is posted here.


Agreed. Losses will be offloaded or socialized, govs will ultimate deal with this by inflating, and most of the populace will be saddled by the burden (but generally won't realize/understand it directly due to the insidious nature of inflation).

@skilo: I don't see how mega-banks as a corporate class will go away under the current monetary/political system. Too many advantages as primary dealers, and too many incentives for congressmen to cater to them.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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notme
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November 01, 2011, 11:53:48 PM
 #7

I wonder if you could have you'r govermental offices in another country.

Sure... Until the locals revolt and establish their own government.  Squashing a revolution from a different country is hard.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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