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Banks have lost $700 Billion from buying US treasuries? (Be afraid – very afraid!)

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Photo above - this chart might refute the theory that "the future's so bright we're gonna need sunglasses".

If you thought the crash and burn failures of several huge US banks earlier this year – one which was piloted by a Federal Reserve governor – marked a turning point, think again. The link below shows that banks have accumulated a staggering $684 billion in losses on the Treasury Bills. Just the Treasuries they already own and haven't been able to dump yet. See the link below.

Somebody in this forum, a pundit who is living paycheck to paycheck, is likely to reply “$700 billion is chump change!. Not to the FDC. They've had to spend $23 Billion bailing out failed banks already this year. So, $684 billion is . . . ahem . . . A LOT MORE. I'm not going to calculate the exact percentage. About 30X as much. ($23 billion X 30 is around $700 billion)

Of course, when a bank fails, not all their bad Treasuries, loans, and deposits have to be covered from the FDIC vaults (which are simply our tax dollars, if you want to think rationally about it). Bad banks are typically merged into good ones through government diktat, with the FDIC picking up the difference. Does this make the surviving (good) banks stronger, or weaker? This isn't a trick question. Intuition says if you drink poison, you get sicker, despite Nitzsche's bizarre assertion that “whatever doesn't kill you, makes you stronger.” Nietzsche never ran a bank, nor was he a Federal Reserve official, for that matter. (Nietzsche died of syphilis at age 55. This is true - you can look it up.)

Okay - let's peel back the next layer of the onion – the good bank probably gets sicker in proportion to the amount US Treasuries it has to swallow from bad banks, right? If a bad bank is sitting on $100 billion in unrealized US Treasury losses, and (hypothetical example) JP Morgan Chase is “persuaded” to swallow the entire bottle of poison, and take them over, then JPM might get $100 billion sicker too. Or less, if they only volunteer to drink half the bottle. If anyone in this forum is an actual FDIC or Federal Reserve official, and I'm wrong about this, please correct me.

At this point, we should allow the anarchists, socialists, communists, and anti-capitalists to weigh in. Some of these guys are ecstatic at the notion that banks could be sick and dying. And if this spills over onto Wall Street, their joy will only be intensified. Because they believe the whole economic system is rotten, and we should start over from scratch. With what? They dunno – should we copy Russia, China, Venezuela, North Korea, Venezuela, Cuba, Iran? Is there actually an example out there which shows us the way forward?

If banks continue to fail, the only way to fix that will be for the FDIC to bail them out. With money it doesn't have. The Treasury Department will have to issue EVEN MORE Treasuries to cover this. Which means MORE exploding federal debt. And HIGHER mortgage rates. Social Security cuts for Mom and Dad - the money they use to keep the lights on? Do you think there are going to be more – or fewer – tent people on the streets if housing keeps getting less affordable, and social security takes a hit?

I'm not a fan of the leading presidential candidate of either party. I wish someone new would get elected. Someone who is alert, and with rational ideas. But whoever it will be, I don't envy them on inauguration day. They're going to have to fix a LOT of crap . . .

I'm just sayin' . . .

“Unrealized Losses” on Securities Held by Banks Jump by 22% to $684 Billion in Q3, Oh Lordy | Wolf Street
 
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RickWA

Snagglesooth

Photo above - this chart might refute the theory that "the future's so bright we're gonna need sunglasses".

If you thought the crash and burn failures of several huge US banks earlier this year – one which was piloted by a Federal Reserve governor – marked a turning point, think again. The link below shows that banks have accumulated a staggering $684 billion in losses on the Treasury Bills. Just the Treasuries they already own and haven't been able to dump yet. See the link below.

Somebody in this forum, a pundit who is living paycheck to paycheck, is likely to reply “$700 billion is chump change!. Not to the FDC. They've had to spend $23 Billion bailing out failed banks already this year. So, $684 billion is . . . ahem . . . A LOT MORE. I'm not going to calculate the exact percentage. About 30X as much. ($23 billion X 30 is around $700 billion)

Of course, when a bank fails, not all their bad Treasuries, loans, and deposits have to be covered from the FDIC vaults (which are simply our tax dollars, if you want to think rationally about it). Bad banks are typically merged into good ones through government diktat, with the FDIC picking up the difference. Does this make the surviving (good) banks stronger, or weaker? This isn't a trick question. Intuition says if you drink poison, you get sicker, despite Nitzsche's bizarre assertion that “whatever doesn't kill you, makes you stronger.” Nietzsche never ran a bank, nor was he a Federal Reserve official, for that matter. (Nietzsche died of syphilis at age 55. This is true - you can look it up.)

Okay - let's peel back the next layer of the onion – the good bank probably gets sicker in proportion to the amount US Treasuries it has to swallow from bad banks, right? If a bad bank is sitting on $100 billion in unrealized US Treasury losses, and (hypothetical example) JP Morgan Chase is “persuaded” to swallow the entire bottle of poison, and take them over, then JPM might get $100 billion sicker too. Or less, if they only volunteer to drink half the bottle. If anyone in this forum is an actual FDIC or Federal Reserve official, and I'm wrong about this, please correct me.

At this point, we should allow the anarchists, socialists, communists, and anti-capitalists to weigh in. Some of these guys are ecstatic at the notion that banks could be sick and dying. And if this spills over onto Wall Street, their joy will only be intensified. Because they believe the whole economic system is rotten, and we should start over from scratch. With what? They dunno – should we copy Russia, China, Venezuela, North Korea, Venezuela, Cuba, Iran? Is there actually an example out there which shows us the way forward?

If banks continue to fail, the only way to fix that will be for the FDIC to bail them out. With money it doesn't have. The Treasury Department will have to issue EVEN MORE Treasuries to cover this. Which means MORE exploding federal debt. And HIGHER mortgage rates. Social Security cuts for Mom and Dad - the money they use to keep the lights on? Do you think there are going to be more – or fewer – tent people on the streets if housing keeps getting less affordable, and social security takes a hit?

I'm not a fan of the leading presidential candidate of either party. I wish someone new would get elected. Someone who is alert, and with rational ideas. But whoever it will be, I don't envy them on inauguration day. They're going to have to fix a LOT of crap . . .

I'm just sayin' . . .

“Unrealized Losses” on Securities Held by Banks Jump by 22% to $684 Billion in Q3, Oh Lordy | Wolf Street
While I don’t think I quite fit into the category of “anarchist, socialist, communist, or anti-capitalist”, I do believe our systems - both political and economic - are irreparably corrupt (and it is our political entity that is at the root of that). Let’s take a not-so-hypothetical, not-uncontemporary example: Home mortgages. The Fed (an unelected, but more-than-quasi political/government entity) repeatedly raises interest rates again, and again, and again, and again, etc. Parallel to this precise occurrence, the Executive Branch of our government (specifically, genius Joe Biden) unilaterally decrees that people who have practiced a LIFETIME of discipline and responsibility and have great credit…will be required to overtly prop up and subsidize those who did not. We now bear much higher cost of purchase. As is always the case with government - especially that of the egalitarian statist collectivist variety - no good deed goes unpunished. The desirable and the good bear the consequences of the bad. When you pool and collectivize a thing, you:
1) Dilute benefits
2) Disincentivize responsibility/stewardship
3) Reward non-virtue
4) Discredit the system and eliminate faith in it

This is true across applications. My auto insurance rates aren’t abysmally high because of the risk “I” pose nor “my” driving history. Rates are high because the consequences of irresponsible, underachieving morons are visited upon me. When you pool things, you get a dumbed down version of those things. It retards excellence, because there is little benefit to excelling.

No bright colors…just dull, muted, Soviet gray. We must all be equally blahh. Equity, you know.

I know your post is about banks and such. The larger picture is that everything is being made into a gawdawful blended succotash. Even genders cannot be allowed to be distinct. Mash it all up, blend it all into some unrecognizable slop. You’re not leaving the table until your plate is clean!
 

worldlymrb

Revenge

Photo above - this chart might refute the theory that "the future's so bright we're gonna need sunglasses".

If you thought the crash and burn failures of several huge US banks earlier this year – one which was piloted by a Federal Reserve governor – marked a turning point, think again. The link below shows that banks have accumulated a staggering $684 billion in losses on the Treasury Bills. Just the Treasuries they already own and haven't been able to dump yet. See the link below.

Somebody in this forum, a pundit who is living paycheck to paycheck, is likely to reply “$700 billion is chump change!. Not to the FDC. They've had to spend $23 Billion bailing out failed banks already this year. So, $684 billion is . . . ahem . . . A LOT MORE. I'm not going to calculate the exact percentage. About 30X as much. ($23 billion X 30 is around $700 billion)

Of course, when a bank fails, not all their bad Treasuries, loans, and deposits have to be covered from the FDIC vaults (which are simply our tax dollars, if you want to think rationally about it). Bad banks are typically merged into good ones through government diktat, with the FDIC picking up the difference. Does this make the surviving (good) banks stronger, or weaker? This isn't a trick question. Intuition says if you drink poison, you get sicker, despite Nitzsche's bizarre assertion that “whatever doesn't kill you, makes you stronger.” Nietzsche never ran a bank, nor was he a Federal Reserve official, for that matter. (Nietzsche died of syphilis at age 55. This is true - you can look it up.)

Okay - let's peel back the next layer of the onion – the good bank probably gets sicker in proportion to the amount US Treasuries it has to swallow from bad banks, right? If a bad bank is sitting on $100 billion in unrealized US Treasury losses, and (hypothetical example) JP Morgan Chase is “persuaded” to swallow the entire bottle of poison, and take them over, then JPM might get $100 billion sicker too. Or less, if they only volunteer to drink half the bottle. If anyone in this forum is an actual FDIC or Federal Reserve official, and I'm wrong about this, please correct me.

At this point, we should allow the anarchists, socialists, communists, and anti-capitalists to weigh in. Some of these guys are ecstatic at the notion that banks could be sick and dying. And if this spills over onto Wall Street, their joy will only be intensified. Because they believe the whole economic system is rotten, and we should start over from scratch. With what? They dunno – should we copy Russia, China, Venezuela, North Korea, Venezuela, Cuba, Iran? Is there actually an example out there which shows us the way forward?

If banks continue to fail, the only way to fix that will be for the FDIC to bail them out. With money it doesn't have. The Treasury Department will have to issue EVEN MORE Treasuries to cover this. Which means MORE exploding federal debt. And HIGHER mortgage rates. Social Security cuts for Mom and Dad - the money they use to keep the lights on? Do you think there are going to be more – or fewer – tent people on the streets if housing keeps getting less affordable, and social security takes a hit?

I'm not a fan of the leading presidential candidate of either party. I wish someone new would get elected. Someone who is alert, and with rational ideas. But whoever it will be, I don't envy them on inauguration day. They're going to have to fix a LOT of crap . . .

I'm just sayin' . . .

“Unrealized Losses” on Securities Held by Banks Jump by 22% to $684 Billion in Q3, Oh Lordy | Wolf Street
Nothing a trillion-dollar quarterly bailout and more wars can't fix.
 

Dawg

President
Supporting Member
$700 Billion, that the same amount the Senate is hold-up with the buyers of Yellow trucking offered to pay taxpayers NOW beyond offer but Senate wants the other buyers offered but the taxpayers $700B will be delayed until 2026
 
While I don’t think I quite fit into the category of “anarchist, socialist, communist, or anti-capitalist”, I do believe our systems - both political and economic - are irreparably corrupt (and it is our political entity that is at the root of that). Let’s take a not-so-hypothetical, not-uncontemporary example: Home mortgages. The Fed (an unelected, but more-than-quasi political/government entity) repeatedly raises interest rates again, and again, and again, and again, etc. Parallel to this precise occurrence, the Executive Branch of our government (specifically, genius Joe Biden) unilaterally decrees that people who have practiced a LIFETIME of discipline and responsibility and have great credit…will be required to overtly prop up and subsidize those who did not. We now bear much higher cost of purchase. As is always the case with government - especially that of the egalitarian statist collectivist variety - no good deed goes unpunished. The desirable and the good bear the consequences of the bad. When you pool and collectivize a thing, you:
1) Dilute benefits
2) Disincentivize responsibility/stewardship
3) Reward non-virtue
4) Discredit the system and eliminate faith in it

This is true across applications. My auto insurance rates aren’t abysmally high because of the risk “I” pose nor “my” driving history. Rates are high because the consequences of irresponsible, underachieving morons are visited upon me. When you pool things, you get a dumbed down version of those things. It retards excellence, because there is little benefit to excelling.

No bright colors…just dull, muted, Soviet gray. We must all be equally blahh. Equity, you know.

I know your post is about banks and such. The larger picture is that everything is being made into a gawdawful blended succotash. Even genders cannot be allowed to be distinct. Mash it all up, blend it all into some unrecognizable slop. You’re not leaving the table until your plate is clean!
okay - lets zero in on banking, not auto liablity insurance.

i don't get the impression you're rooting for the collapse of capitalism. if i missed this from your previous posts i apologize and promise to read more closely in the future.

i prefer to separate "corrupt politicians", "dishonest CEOs", and the free market system. It seems that America is somewhat effective at uncovering and jailing corporate criminals. Less so corrupt politicians. Santos appears to be surviving the half hearted attempts to remove him from congress. But why isn't he already in the docket in various courts for his admitted crimes (money laundering, misuse of campaign funds, etc). You don't need a congressional hearing to make that happen.

I prefer honest politicians, honest businesses, and well regulated (but not state owned) financial services. I'm only getting 1 out of 3, on most days.
 
$700 Billion, that the same amount the Senate is hold-up with the buyers of Yellow trucking offered to pay taxpayers NOW beyond offer but Senate wants the other buyers offered but the taxpayers $700B will be delayed until 2026
I just saw this! I did a rant on the Yellow Trucking failure a few months ago, but no followup. Thank you for including this.

I'm guessing the $700 bailout - in part or in whole - is going to end up in Teamsters Union hands. Because they were investors in Yellow Trucking? If that's even remotely true, then this is a just another union bailout to influence votes. Why am I not surprised to hear this?
 

Dawg

President
Supporting Member
I just saw this! I did a rant on the Yellow Trucking failure a few months ago, but no followup. Thank you for including this.

I'm guessing the $700 bailout - in part or in whole - is going to end up in Teamsters Union hands. Because they were investors in Yellow Trucking? If that's even remotely true, then this is a just another union bailout to influence votes. Why am I not surprised to hear this?
and backed by Senate proving who they work for
 

RickWA

Snagglesooth
okay - lets zero in on banking, not auto liablity insurance.

i don't get the impression you're rooting for the collapse of capitalism. if i missed this from your previous posts i apologize and promise to read more closely in the future.

i prefer to separate "corrupt politicians", "dishonest CEOs", and the free market system. It seems that America is somewhat effective at uncovering and jailing corporate criminals. Less so corrupt politicians. Santos appears to be surviving the half hearted attempts to remove him from congress. But why isn't he already in the docket in various courts for his admitted crimes (money laundering, misuse of campaign funds, etc). You don't need a congressional hearing to make that happen.

I prefer honest politicians, honest businesses, and well regulated (but not state owned) financial services. I'm only getting 1 out of 3, on most days.
“America is somewhat effective at uncovering and jailing corporate criminals” only when they are not useful to those who would “uncover and jail” them. Until that is the case, those bad guys flourish and prosper. For decades on end. Private corruption stems, more often than not, from public corruption…and public corruption owes itself, in no small measure, to the fact that public entities are so overly empowered that they CAN benefit private entities. In short, expanded government reach and influence increases the benefit of influence-peddling, bribery, etc.

You are correct - I am not anti-capitalist. Quite the opposite, I am probably it’s most avid adherent and practitioner (at least in this forum). Activist, hands-on, heavy-handed government wrecks everything in its path. Government morons wreck things - then they advance themselves as solution.

Santos is a maggot who should be prosecuted rather than merely subjected to still more congressional theatrics. He is poster boy for the overall Kardashianization of our government, and its governance. So, accountability exists only where selectively beneficial to those in authority. The regulators of things are just as…if not more…corrupt than those being regulated. They are laden with the same vices, starved of the same virtues. They just wield the power. And they broker what they choose.
 

Jack4freedom

Governor
While I don’t think I quite fit into the category of “anarchist, socialist, communist, or anti-capitalist”, I do believe our systems - both political and economic - are irreparably corrupt (and it is our political entity that is at the root of that). Let’s take a not-so-hypothetical, not-uncontemporary example: Home mortgages. The Fed (an unelected, but more-than-quasi political/government entity) repeatedly raises interest rates again, and again, and again, and again, etc. Parallel to this precise occurrence, the Executive Branch of our government (specifically, genius Joe Biden) unilaterally decrees that people who have practiced a LIFETIME of discipline and responsibility and have great credit…will be required to overtly prop up and subsidize those who did not. We now bear much higher cost of purchase. As is always the case with government - especially that of the egalitarian statist collectivist variety - no good deed goes unpunished. The desirable and the good bear the consequences of the bad. When you pool and collectivize a thing, you:
1) Dilute benefits
2) Disincentivize responsibility/stewardship
3) Reward non-virtue
4) Discredit the system and eliminate faith in it

This is true across applications. My auto insurance rates aren’t abysmally high because of the risk “I” pose nor “my” driving history. Rates are high because the consequences of irresponsible, underachieving morons are visited upon me. When you pool things, you get a dumbed down version of those things. It retards excellence, because there is little benefit to excelling.

No bright colors…just dull, muted, Soviet gray. We must all be equally blahh. Equity, you know.

I know your post is about banks and such. The larger picture is that everything is being made into a gawdawful blended succotash. Even genders cannot be allowed to be distinct. Mash it all up, blend it all into some unrecognizable slop. You’re not leaving the table until your plate is clean!
I agree that our monetary system and banking laws are rife with corruption. I have always been in favor of abolishing the Federal Reserve and the IRS and returning to constitutional monetary policy. We should never have turned over our monetary policy to a bunch of international bank swindlers in the first place and should get rid of them now. Also income tax is the 2nd plank of the communist manifesto and also unconstitutional in my book. Our economy is being run like a race track taking a 17% skim off every dollar that goes through it. Time to use congressional power to regulate money and get rid of the blood sucking middle man.
 

Zam-Zam

Senator

Photo above - this chart might refute the theory that "the future's so bright we're gonna need sunglasses".

If you thought the crash and burn failures of several huge US banks earlier this year – one which was piloted by a Federal Reserve governor – marked a turning point, think again. The link below shows that banks have accumulated a staggering $684 billion in losses on the Treasury Bills. Just the Treasuries they already own and haven't been able to dump yet. See the link below.

Somebody in this forum, a pundit who is living paycheck to paycheck, is likely to reply “$700 billion is chump change!. Not to the FDC. They've had to spend $23 Billion bailing out failed banks already this year. So, $684 billion is . . . ahem . . . A LOT MORE. I'm not going to calculate the exact percentage. About 30X as much. ($23 billion X 30 is around $700 billion)

Of course, when a bank fails, not all their bad Treasuries, loans, and deposits have to be covered from the FDIC vaults (which are simply our tax dollars, if you want to think rationally about it). Bad banks are typically merged into good ones through government diktat, with the FDIC picking up the difference. Does this make the surviving (good) banks stronger, or weaker? This isn't a trick question. Intuition says if you drink poison, you get sicker, despite Nitzsche's bizarre assertion that “whatever doesn't kill you, makes you stronger.” Nietzsche never ran a bank, nor was he a Federal Reserve official, for that matter. (Nietzsche died of syphilis at age 55. This is true - you can look it up.)

Okay - let's peel back the next layer of the onion – the good bank probably gets sicker in proportion to the amount US Treasuries it has to swallow from bad banks, right? If a bad bank is sitting on $100 billion in unrealized US Treasury losses, and (hypothetical example) JP Morgan Chase is “persuaded” to swallow the entire bottle of poison, and take them over, then JPM might get $100 billion sicker too. Or less, if they only volunteer to drink half the bottle. If anyone in this forum is an actual FDIC or Federal Reserve official, and I'm wrong about this, please correct me.

At this point, we should allow the anarchists, socialists, communists, and anti-capitalists to weigh in. Some of these guys are ecstatic at the notion that banks could be sick and dying. And if this spills over onto Wall Street, their joy will only be intensified. Because they believe the whole economic system is rotten, and we should start over from scratch. With what? They dunno – should we copy Russia, China, Venezuela, North Korea, Venezuela, Cuba, Iran? Is there actually an example out there which shows us the way forward?

If banks continue to fail, the only way to fix that will be for the FDIC to bail them out. With money it doesn't have. The Treasury Department will have to issue EVEN MORE Treasuries to cover this. Which means MORE exploding federal debt. And HIGHER mortgage rates. Social Security cuts for Mom and Dad - the money they use to keep the lights on? Do you think there are going to be more – or fewer – tent people on the streets if housing keeps getting less affordable, and social security takes a hit?

I'm not a fan of the leading presidential candidate of either party. I wish someone new would get elected. Someone who is alert, and with rational ideas. But whoever it will be, I don't envy them on inauguration day. They're going to have to fix a LOT of crap . . .

I'm just sayin' . . .

“Unrealized Losses” on Securities Held by Banks Jump by 22% to $684 Billion in Q3, Oh Lordy | Wolf Street
Just glancing at the chart that you provided. it appears things started going south in 2021, and then got worse after that.

Just an observation.
 

RickWA

Snagglesooth
I agree that our monetary system and banking laws are rife with corruption. I have always been in favor of abolishing the Federal Reserve and the IRS and returning to constitutional monetary policy. We should never have turned over our monetary policy to a bunch of international bank swindlers in the first place and should get rid of them now. Also income tax is the 2nd plank of the communist manifesto and also unconstitutional in my book. Our economy is being run like a race track taking a 17% skim off every dollar that goes through it. Time to use congressional power to regulate money and get rid of the blood sucking middle man.
Amen, brother! If you want to tax the heck out of me, do it out in the open. Hammer me every time I spend or transact…at the point of sale/action. That, I can live with.
 

Jack4freedom

Governor
Amen, brother! If you want to tax the heck out of me, do it out in the open. Hammer me every time I spend or transact…at the point of sale/action. That, I can live with.

This whole income tax crap is now used to track every cent we spend to make sure the loan shark swindlers get their cut. Also, there is absolutely no reason we as a country should ever borrow a cent. We should be lending money and using the interest to fund our government. Fvck the Fed and the IRS….You are a very smart guy. Go Huskies,beat those greasy Ducks!
 

RickWA

Snagglesooth
This whole income tax crap is now used to track every cent we spend to make sure the loan shark swindlers get their cut. Also, there is absolutely no reason we as a country should ever borrow a cent. We should be lending money and using the interest to fund our government. Fvck the Fed and the IRS….You are a very smart guy. Go Huskies,beat those greasy Ducks!
Agreed - and thanks for the Dawg-sentiment. I expect that we won’t fare so well tonight, but let us hope. Go Dawgs! Dubs up!
 
This whole income tax crap is now used to track every cent we spend to make sure the loan shark swindlers get their cut. Also, there is absolutely no reason we as a country should ever borrow a cent. We should be lending money and using the interest to fund our government. Fvck the Fed and the IRS….You are a very smart guy. Go Huskies,beat those greasy Ducks!
the government end-game for America's banking system is . . .

1. all transactions electronic, for automatic tabulation/record keeping. that means bank cards, credit cards, and wire transfers. Cash will be phased out.

2. 'consolidation' of financial providers in the european style. England and Germany have at most a half dozen big banks. the smaller ones are all gone. US (and european) regulators would prefer to supervise 10 big banks, rather than 10,000 community ones. So whenver a smaller bank stubs it's toe, it gets taken over and sold to a money-center/too-big to fail bank.

3. The US government is actually exploring a "crypto-greenback". The underlying theory is that it will be much easier to track and control than credit cards and checking accounts. much easier to confiscate your savings, or collect back taxes, or garnish you wages for alimony, or make you disappear completely from the financial landscape. if your social security number and digital money are all taken away, where can you go?
 

Jack4freedom

Governor
Agreed - and thanks for the Dawg-sentiment. I expect that we won’t fare so well tonight, but let us hope. Go Dawgs! Dubs up!
Another great win for your boys. On to the semi‘s. What a great year. Penex looked much sharper. He should be all healed up by New Years. Heisman, hands down. Your coach is really a class act.
 

Jack4freedom

Governor
the government end-game for America's banking system is . . .

1. all transactions electronic, for automatic tabulation/record keeping. that means bank cards, credit cards, and wire transfers. Cash will be phased out.

2. 'consolidation' of financial providers in the european style. England and Germany have at most a half dozen big banks. the smaller ones are all gone. US (and european) regulators would prefer to supervise 10 big banks, rather than 10,000 community ones. So whenver a smaller bank stubs it's toe, it gets taken over and sold to a money-center/too-big to fail bank.

3. The US government is actually exploring a "crypto-greenback". The underlying theory is that it will be much easier to track and control than credit cards and checking accounts. much easier to confiscate your savings, or collect back taxes, or garnish you wages for alimony, or make you disappear completely from the financial landscape. if your social security number and digital money are all taken away, where can you go?
I have been hearing this kind of stuff since the 1970s. Hope it’s another 50 years before they pull it off, if ever. First order of business should be to abolish PATRIOT ACT.
 
I have been hearing this kind of stuff since the 1970s. Hope it’s another 50 years before they pull it off, if ever. First order of business should be to abolish PATRIOT ACT.
the selling points will be . . .

1. end bank failures forever
2.. stop money laundering and terrorist funding
3. stop tax cheats.

who would vote against THOSE? who would believe it, actually?
 

RickWA

Snagglesooth
Another great win for your boys. On to the semi‘s. What a great year. Penex looked much sharper. He should be all healed up by New Years. Heisman, hands down. Your coach is really a class act.
Kalen DeBoer is as good as it gets. Solid human being, and very humble. The quintessential upper-Midwest guy - and as good an in-game coach as I’ve seen. Most importantly, he’s an amazing, caring father figure to his players. He genuinely cares and it shows. The Dawgs have talent, but he…more than anything…is why we are where we are.

Thank you.
 
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