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Originally posted by Jongsstraw:
Wall Street has gotten so used to ridiculous artificially-supported low interest rates, I shudder to think what's gonna happen when the Fed announces the first of its inevitable prime rate increases. That's a day you don't want to own any stocks or mutual funds.

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Originally posted by Jongsstraw:
Most people would say that the current interest payment on the debt is already "astronomical". Hundreds of billions of dollars a year for nothing, a national disgrace.

http://www.pewresearch.org/fact-tank/2013/10/09/5-facts-about-the-nati
onal-debt-what-you-should-know/

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Originally posted by Jongsstraw:
Any higher future interest rates would only be applicable to new debt. The existing debt will still be subject to the same rates that the loans were secured at.

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Originally posted by JEWELSTAITEFAN:

I wasn't trying to mollify the uneducated

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Originally posted by Jongsstraw:

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Originally posted by JEWELSTAITEFAN:

I wasn't trying to mollify the uneducated

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Thank you Mr. Gruber.

How M.I.T.ee white of you.

See you next week in front of the House Committee.

Don't worry though, the MSM will ignore the whole thing as always. Only Fox News will cover it, and their viewers drink American beer. They never heard of an Amstel Light. Can you imagine that?

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Originally posted by SIGNYM:
YOUR DEPOSIT, which is covered by a PRIVATE insurance called the FDIC, is not your money. It's considered to be an unsecured loan to the bank. So if the insurance runs out, your deposit may be subject to a "bail in", where you get a haircut to make good on the bank's more senior debts. And even if your deposit is protected because it falls under the $250,000 limit, there are many other deposits .... pension funds, credit unions, investment firms ... which may be holding their $$ in a large bank, which are subject to the bail in provision.

I can find the agreement between the FDIC and the Bank of England, BTW, which enshrines the bail-in provision.

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Originally posted by SIGNYM:
So, if you think that the "bail in" plan is a conspiracy theory, here is the agreement between the BoE and the FDIC on "Resolving Globally Active, Systemically Important Finanacial Institutions"

https://www.fdic.gov/about/srac/2012/gsifi.pdf

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Courtesy of the Cronybus(sic) [aptly-named!] last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts.... Unsurprisingly, the main backer of the bill is notorious Wall Street lackey Jim Himes (D-Conn.), a former Goldman Sachs employee who has discovered lobbyist payoffs can be just as lucrative as a career in financial services.

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Originally posted by SIGNYM:



The previous link was The Global Minataur, in which Yanis Varoufakis explains much of the same history, but without the details about Thatcher.

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