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Message: Explanations for credit default swaps
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This is one of the better (simpler) explanations for credit default swaps and why they are going to destroy the financial system on the planet...Imagine joining this concept with illegal naked shorting? Got gold and silver? Because the US and other administrations show no interest in stopping this process at all and if they do not, it will continue eating at the fabric of infrastructure until nothing is left!!!!
Karl Marx: Eventually capitalism destroys itself (with its own greed):
"The continued secrecy around the destination of bailout funds continues. The Federal Reserve clammed up and wouldn't reveal any names this week in congress. Taxpayers have no idea where their money is going. But I can tell you when a large bankrupt insurer receives bailout money as one has recently, the money flows out the back door to the counter-party.
I like to try and keep things simple...maybe to simple, but here is my explanation of the process. Let's use my home as an example.
- Only I can take out insurance on it. If my mortgage were like the structured products used on wall street today as many people that wanted to could purchase insurance on my home.
- With thousands of people having insurance on my home they decide they want to collect, hence they burn down my home.
- They collect the insurance money and take a vacation.
That is as simple as I can put it. The many people buying insurance are only buying it to make money and must force an entity or product into bankruptcy basically to collect the insurance. Taxpayer money goes to the many people/counter-parties who have insurance on something that they don't own. And then we can't even find out who is collecting the money. It's fraud pure and simple and destroying everything in it's path".
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The important point here is that this is a system that is eating itself - being looted by the players that created the destruction in the first place. This is being allowed to happen. Ignorance is not the excuse it used to be because here is the process.....This is what Sinclair raves about - "those sociopathic geeks have killed us all....!!!!"
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