It is all Fiction Now.....
April 09, 2009
– Comments (17)
Write down Assets(BAD LOANS) Last Quarter $10 Billion and sell them to the government for only a $7 Billion dollar loss this quarter an shazaaam.....you just made $3 Billion in Fictional profits........and watch everyone go nuts......
In the end.....you knew or should have known when those loans were made there was little chance they would ever perform....So the profits you reported a few years ago when the loans were originated were Fictional as well....but the bonuses you took were REAL!!!!!
Is there a familiar similarity to Madoff and his fictional business with ficitonal profits and fictional statements???????
Now your customers owe you over $30 Trillion dollars but they only have $6 Trillion in deposits......as a result....you have a pretty good idea that about $24 Trillion of loans are susceptible for future default as you jack up interest rates to a level that you know your customers can't pay. So basically those $24 Trillion of loans that your are reporting as Assets could soon be fictional as well.......
To add insult to injury.....during this past 10 years of fictional profits and fictional financial statements which created inflated spending as a result of FU infected debt....take REAL jobs and transfer them overseas......so when we finally learn that this whole game was a Ponzi scheme of loaning money that the banks never really had in the first place.....there will be few jobs for any to be had......and even less money.....unless of course we go to war.....and then jobs will be plentiful as we drive the nation into even more debt......
At this point....we are playing hot potato with a hand granade......There is about $20 Trillion dollars of American Debt that is very vulnerable to contracting the FU virus.....$20 TRILLION.....this doesn't include Trillions of foreign debt as well.
The banks will tell you that they will have to raise interest rates due to rising defaults.....this will cause debt to default faster......which will cause banks to ask the government for even more money as millions will be thrown on the streets and/or lose their jobs.....
It ain't hard to see......there is simply not enough money to pay back the banks.....people will become more and more desperate to try to pay back debt while trying to buy food at the same time and put a roof over their kids heads......heavans forbid someone should get sick......
If Buffet is no longer AAA......nobody is.......
Prepare.....Don't Fear.....unless we restructure debt......things are about to get really interesting.
AS BANKERS SIT BACK LAUGHING AT YOU WITH THEIR BILLIONS IN REAL BONUSES!!!
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