lyth0s
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August 05, 2014, 12:37:12 PM |
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Here is the list if someone want is reluctant to check the article... 1. Ecuador 2. Egypt 3. Pakistan 4. Venezuela 5. Argentina 6. Belize 7. Cuba 8. Cyprus 9. Greece 10. Jamaica 11. Ukraine How did they forget places like Ireland, Portugal and Spain? Ireland is predicted to have about a 40% year over year chance of becoming bankrupt. Because 11 is a really low number. Isn't this a list of the 11 most likely? I don't know much about Jamaica, Ukraine or Belize, but 40% annual chance of going bankrupt seems like it would make the top 10. Unless this article is basing it off of Debt % of GDP. |
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lyth0s
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Activity: 1260
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August 05, 2014, 12:45:00 PM |
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Thanks for that article. Besides all the connections JPM has, these comments are the ones I found most interesting. "JPMorgan Chase CEO Jamie Dimon is on Capitol Hill again today, this time to talk to the House Financial Services committee about the bank's recent multibillion-dollar trading loss. ...His Senate hearing was hardly a grilling; senators mostly praised him for his "emphasis on continuous quality improvement," in the words of Senator Jim DeMint, R-S.C. " -- Basically, we called you here to investigate why these losses took place, but instead....lets just complement you on your work ethic. "Jamie Dimon sits on the board of the New York Federal Reserve — something that's prompted a proposed bill from Democratic senators that would ban officials of banks that can receive loans from the Fed from serving on any of its boards. JPMorgan and 17 other banks whose execs served on regional Fed boards got emergency loans from the Fed between 2007 and 2009. A government report found no evidence of conflict of interest from the arrangement, but did raise the concern of "reputational risks" from the appearance of one. " --JPM CEO sits on NY Federal reserve board and received emergency loans from the Fed back during the subprime crisis. I wonder if the fed gave these loans out to many corporations or if there was any JPM favoritism (not that it really matters after the bailouts). |
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kutaka
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August 05, 2014, 01:22:41 PM |
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Big guy can get away with much more than small guy. It is so and it's been so for last few thousands of years.
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qwerty555
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August 05, 2014, 01:33:02 PM |
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Big guy can get away with much more than small guy. It is so and it's been so for last few thousands of years.
yes..occasionally it is reversed..French revolution..Oliver Cromwell..chairman Mao but human nature is what it is and will continue to be so for the foreseeable future |
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Bogleg
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August 05, 2014, 07:19:07 PM |
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Big guy can get away with much more than small guy. It is so and it's been so for last few thousands of years.
yes..occasionally it is reversed..French revolution..Oliver Cromwell..chairman Mao but human nature is what it is and will continue to be so for the foreseeable future French revolution is probably the most brutal event that ever happen to the ruling class for the west. Other culture (ie China) revolution is more used to having the whole emperor family getting slaughtered by warlords. |
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wachtwoord
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August 05, 2014, 07:51:31 PM |
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Here is the list if someone want is reluctant to check the article... 1. Ecuador 2. Egypt 3. Pakistan 4. Venezuela 5. Argentina 6. Belize 7. Cuba 8. Cyprus 9. Greece 10. Jamaica 11. Ukraine How did they forget places like Ireland, Portugal and Spain? Ireland is predicted to have about a 40% year over year chance of becoming bankrupt. Because 11 is a really low number. Isn't this a list of the 11 most likely? I don't know much about Jamaica, Ukraine or Belize, but 40% annual chance of going bankrupt seems like it would make the top 10. Unless this article is basing it off of Debt % of GDP. Argentina just defaulted (so 100% chance) and Ukraine was already fucked before the civil war started. I'm not too sure about the odds of the others. |
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Brewins
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August 05, 2014, 08:21:24 PM |
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Zimbabwe not in the list?
They recovered from that inflation, or they are in the already in bankruptcy list?
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Omikifuse
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August 05, 2014, 09:37:52 PM |
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I would add all the Euro zone to this list.
When they unified their coin, they gave up their monetary decisions to a supra-national entity, so pretty much if one falls, the other will follow.
And there are not few countries in the zone with problems, bigger or smaller(Greece, Portugal, France, Italy, Spain, etc...)
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oceans
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August 29, 2014, 02:40:02 PM |
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It's true that it does seem that fiat is collapsing and at some point it may but the way things are now I do not see bitcoin as of yet getting us out of any kind of mess if fiat did collapse.
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Damnyo
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August 29, 2014, 02:46:38 PM |
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Their only hope = adopting BTC or death.
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botany
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August 29, 2014, 04:31:02 PM |
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Zimbabwe not in the list?
They recovered from that inflation, or they are in the already in bankruptcy list?
Maybe they weren't even good enough to get international debt issued, forget defaulting on it.  |
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giveBTCpls
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August 29, 2014, 05:05:45 PM |
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Spain is also raking up debt at rampant speeds. Surprised is not even mentioned on there.
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wasserman99
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August 29, 2014, 05:41:30 PM |
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Here is the list if someone want is reluctant to check the article... 1. Ecuador 2. Egypt 3. Pakistan 4. Venezuela 5. Argentina 6. Belize 7. Cuba 8. Cyprus 9. Greece 10. Jamaica 11. Ukraine How did they forget places like Ireland, Portugal and Spain? Ireland is predicted to have about a 40% year over year chance of becoming bankrupt. Because 11 is a really low number. Isn't this a list of the 11 most likely? I don't know much about Jamaica, Ukraine or Belize, but 40% annual chance of going bankrupt seems like it would make the top 10. Unless this article is basing it off of Debt % of GDP. Argentina just defaulted (so 100% chance) and Ukraine was already fucked before the civil war started. I'm not too sure about the odds of the others. Argentina is in default but they still have tax revenue and foreign country reserves. The only real difference between pre and post default argentina is the fact that they no longer have access to the capital markets, but they already really did not have access because of their known unwillingness to honor their debt. |
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Wooden Plate
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August 31, 2014, 05:05:26 PM |
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It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy
Exactly,a country's falling economy has certain conditions,say political instability or due to ongoing conflicts.Adoption of decentralized currency wouldn't do any good |
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dadugan
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August 31, 2014, 06:05:55 PM |
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It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy
Exactly,a country's falling economy has certain conditions,say political instability or due to ongoing conflicts.Adoption of decentralized currency wouldn't do any good Right. If the country can not manage their own currency, converting it to bitcoin will not magically solve their problems. The county needs live within its mean and pay off their external and internal debt. Produce something the rest of the world want. |
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Kickstart4
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August 31, 2014, 08:02:35 PM |
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No they are no going to be completely bankrupted just a fluctuation on their economy on regards to their countries political ecosystem |
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devphp
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September 01, 2014, 08:57:29 AM |
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It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy
A currency that's actually useable & trusted by the people is better than the debasement of banks & greed of government officials. How would that be different in BTC, where you have greed of early adopters controlling tens of thousands of BTC and effectively being able to manipulate currency acting as central banks? A better way would be some sort of PoS crypto split equally between all countries according to their population numbers, or even better, split equally between all individuals. But both plans are utopia anyway, not worth writing a few words about. |
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Ayers
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Seabet.io | Crypto-Casino
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September 01, 2014, 03:02:57 PM |
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it's banks fault, they know that it was coming, and they did nothing, hope those bank can fuck off and accept bitcoin as a universal payment.
they should come up with a alternative inflationary/deflationary system
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money420weed
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September 01, 2014, 03:10:13 PM |
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It's a nice thought, but economically speaking, even if massively adopted, BTC couldn't save a country from bankruptcy. A currency that they cannot control wouldn't become the primary currency of a failing economy
Exactly,a country's falling economy has certain conditions,say political instability or due to ongoing conflicts.Adoption of decentralized currency wouldn't do any good Adopting a decentralized currency could calm some of the political instability. If the government cannot print money at will (and spend as much money via printing additional money) then there will be less reasons for corrupt politicians to try to come into political power in the first place. |
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