Debt Rattle April 7 2016
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John M. Fox “The new Hudson” 1948 • Time To Stop Dancing With Equities On A Live Volcano (AEP) • Hillary Clinton’s Corporate Cash and Corporate Worldv
[See the full post at: Debt Rattle April 7 2016]How bad is China’s debt problem or anyone else’s for that matter? Anyone who is large bank or powerful nation that is. Look at it this way. Who suffers if loan losses are never recognized? The answer is nobody. Nobody as long as somebody doesn’t demand the losses be recognized and who would that be? The government and so imperil huge deflationary economic consequences. Given the choice to follow regulation and law or imperil the system what member of any elite, government or otherwise who has it so very good is going to choose peril?
Which gets around to anyone else of significance or power who might demand banks take their losses. Why when the short term answer is simply more money via more loans and some central bank printing on the side along with some help now and then with the equity prices of said banks and all other corporations?
I’m hardly talking just about China and besides they are leading the way in burying and printing and market intervention. Is the Dollar world going to let China win this ‘capitalism’ thing? I think not by choice.
If you can follow my nonsensical line of thinking, doubtful I suppose, then you can imagine that the zany and surreal world of money and finance doesn’t necessarily have to end any time soon. As long as default can simply not be declared or just rolled over again and again then it will be. I cannot imagine anyone in power saying stop nor any mechanism which would make it stop. Events may call a halt, war or environmental but a stop by choice of the powerful, I think not. Sure, expect a dislocation, someday, but that day may keep receeding for another year or two or four.
rapier – so nonchalant; whatever, it doesn’t really matter, not important.
If you’ve got no kids, are part of the establishment, or work for it, have lots of your money tied up in establishment fraud, then, yeah, what the hell, it doesn’t matter. In fact, you’d be kind of cheering for the whole fraud to continue, wouldn’t you? You’d probably even be rooting and hoping that the Clinton crook wins the election, just so everything will continue. Yay, they’re printing up more money – yay! Whoopee, my gold is going up! Yay!
Anything but realizing losses. I mean, who the hell does that? I know when I can’t pay my loan back, well they just pat me on the head and say, “That’s all right, sweetheart, we’ll catch you next time, maybe a few years from now. Run along.” Yeah, right.
Anybody who says this is okay is a person I would never want to know because I would never ever trust them. Laws don’t matter to them; the only thing that matters is that they keep banking their ill-gotten gains. If the world goes down the tube and real people actually suffer, who the hell cares? That’s not a world I want to live in.
Foreign trusts in Reno, Nevada, courtesy of Rothschild:
“Rothschild, the centuries-old European financial institution, has opened a trust company in Reno, Nev., a few blocks from the Harrah’s and Eldorado casinos. It is now moving the fortunes of wealthy foreign clients out of offshore havens such as Bermuda, subject to the new international disclosure requirements, and into Rothschild-run trusts in Nevada, which are exempt.
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For financial advisers, the current state of play is simply a good business opportunity. In a draft of his San Francisco presentation, Rothschild’s Penney wrote that the U.S. “is effectively the biggest tax haven in the world.” The U.S., he added in language later excised from his prepared remarks, lacks “the resources to enforce foreign tax laws and has little appetite to do so.”Of course, realtors are exempt from discerning whether money is being laundered or not. Who woulda thunk?
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