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Originally Posted by Paul Waters
I suggest you read the BBC story that I posted a link to.
It looks like the US banks were playing the derivatives game to hide losses and try to mask a terrible blunder.
You know what derivatives are, don't you? That is how Enron blew themselves up. And destroyed the future of anyone who had invested in their stock. Like their employees.
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Look, anyone who's done any research into the situation knows that it's a total house of cards. The world has an estimated USD$4T in assets and roughly USD$45T worth of currency floating around. That should tell you something right there.
The point is, the REALITY of the situation is meaningless. The whole system works because we
will it to work. It's all built on a web of trust and lies and
no-one has a vested interest in making it collapse.
So go ahead and scream it from the rafters and earn your "I told you so" cred. After the "big collapse", that cred plus a pointy stick will get you spit over an open campfire when your neighbors decide to "eat the smug motherfuckers first".
