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The Biggest Scam in History

se7ensnakes said:
the man read this:
Memo sent to Bankers to calling for an economic collapse which eventually became part of the congressional record:
“On September 1st, 1894, we will not renew our loans under any consideration. September 1st we will demand our money.
We will foreclose and become mortgagees in possession. We can take two-thirds of the farms west of Mississippi as well, at our own price... Then the farmers will become tenants as in England...”
1891 American Bankers Association -memo submitted to all bank members.
as printed in the congressional Record of April 29, 1913

This is still in practice today. Big bank muster their financial muscle and cause economic collapses. Then they go around picking the best real estate, companies, etc thru foreclosures and repossessions.

back in the 1800s the banks were loaning money to some investors who claim that they were going to drain a section of the red sea to find the treasure of the drowned egyptians who were chasing moses.

The man this is what is called the boom-burst cycle.
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carlitos said:
I don't believe that "congressional record" quote for a second.
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Nor do I, foreclosing on a farm or farms does not make those farmers “tenants”, but just trespassers and really P.O.ed trespassers at that.

Besides the following assertion is just ridiculous.


se7ensnakes said:

This is still in practice today. Big bank muster their financial muscle and cause economic collapses. Then they go around picking the best real estate, companies, etc thru foreclosures and repossessions.
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Se7ensnakes, “the best real estate, companies, etc” are the ones that can and do continue to repay their debts on time. The ones that can be obtained “thru foreclosures and repossessions“ have already failed in that regard (as well as probably in other regards). So you might get the "best" of the worst along with the worst of the worst, but you certainly do not get “the best”. By your assertion that “they go around picking the best” of what are demonstrably the worst, are you claiming that some delinquent collateralized loans are not foreclosed or repossessed simply because they weren’t the “best” of the worst being “picked” ? By that standard all I have to do is completely over extend myself and those evil bankers will ignore me, since I ain’t “the best”, by any standard, that they are looking to ‘pick’ “thru foreclosures and repossessions” from those that have already failed to meet their obligations, at least to that bank, if not to other creditors as well.


Se7ensnakes, this is what is called absolute nonsense.
 
The Man said:
Nor do I, foreclosing on a farm or farms does not make those farmers “tenants”, but just trespassers and really P.O.ed trespassers at that.

Besides the following assertion is just ridiculous.




Se7ensnakes, “the best real estate, companies, etc” are the ones that can and do continue to repay their debts on time. The ones that can be obtained “thru foreclosures and repossessions“ have already failed in that regard (as well as probably in other regards). So you might get the "best" of the worst along with the worst of the worst, but you certainly do not get “the best”. By your assertion that “they go around picking the best” of what are demonstrably the worst, are you claiming that some delinquent collateralized loans are not foreclosed or repossessed simply because they weren’t the “best” of the worst being “picked” ? By that standard all I have to do is completely over extend myself and those evil bankers will ignore me, since I ain’t “the best”, by any standard, that they are looking to ‘pick’ “thru foreclosures and repossessions” from those that have already failed to meet their obligations, at least to that bank, if not to other creditors as well.


Se7ensnakes, this is what is called absolute nonsense.
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This might be plausible if banks actually held property that they forclose on. Instead, what they nearly always do is unload it as quickly as they can, and in an economic collapse, often for considerably less than the amount of the defaulted loan.

It seems that in CT fantasyland, where Se7ensnakes lives, nobody ever screws up. It's all part of some diabolical plan, even when the evildoers are harmed almost as much as the alleged victims.
 
CORed said:
This might be plausible if banks actually held property that they forclose on. Instead, what they nearly always do is unload it as quickly as they can,
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... ah, but you see, that's part of the evil genius of their plan. They unload most of the property (nearly always), but hold on to the valuable stuff that will make them a fortune.
 
se7ensnakes said:
Hans you need to do some reading. It is believed that one of the major events plunge Europe into the dark ages was the severe money contraction in rome.
QUOTE]

What are you taking about S7S?

The Major event plunging Europe into the Dark ages was the invasion and destruction of the western Roman Empire by various 'barbarian' tribes. 'Severe money contraction' in a non factional non central bank???



Hans not all banks in history practiced fractional reserve banking.[/
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We know that but you don't. So go back and read my quesiton and try actually answering it. Your dodge didn't work.
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CORed said:
This might be plausible if banks actually held property that they forclose on. Instead, what they nearly always do is unload it as quickly as they can, and in an economic collapse, often for considerably less than the amount of the defaulted loan.

It seems that in CT fantasyland, where Se7ensnakes lives, nobody ever screws up. It's all part of some diabolical plan, even when the evildoers are harmed almost as much as the alleged victims.
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Ah, but that’s what makes them so evil. They don’t care if it harms them as long as they get your now worthless property. What else could it be? It certainly couldn’t be that the debt burden was unsupportable and the bank now has no option but to take position of a potentially toxic asset, so it must be that the banks are simply….


[Mermaid Man voice]
EVIL!!!
[/Mermaid Man voice]
 
drkitten said:
... ah, but you see, that's part of the evil genius of their plan. They unload most of the property (nearly always), but hold on to the valuable stuff that will make them a fortune.
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Well, to play devil's advocate.. I imagine for this particular CT the "collapse" in question is still impending. When the markets really fall apart then presumably the final checkmate would occur where the banks sort the wheat from the chaff as damn near every entity goes bankrupt, not just the lousy ones. Keep in mind that testing most testable statements of a CT can only be done in "the future".

I stick to the overfishing analogy myself, no particular actors conspire to drive themselves out of business. When the individual greed of the fishermen is added together they end up collectively cutting their own throats (and the ecosystem's throat) with no need for diabolical planning toward such an end.

Now sure we may be screwed if we can't jump-start our legitimate debt capacity somehow to expand the money supply, but the situation doesn't require mustache-twirling villains for us to be screwed.
 
Emperor_Gestahl said:
Well, to play devil's advocate.. I imagine for this particular CT the "collapse" in question is still impending. When the markets really fall apart then presumably the final checkmate would occur where the banks sort the wheat from the chaff as damn near every entity goes bankrupt, not just the lousy ones. Keep in mind that testing most testable statements of a CT can only be done in "the future".

I stick to the overfishing analogy myself, no particular actors conspire to drive themselves out of business. When the individual greed of the fishermen is added together they end up collectively cutting their own throats (and the ecosystem's throat) with no need for diabolical planning toward such an end.

Now sure we may be screwed if we can't jump-start our legitimate debt capacity somehow to expand the money supply, but the situation doesn't require mustache-twirling villains for us to be screwed.
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Any idea when this will happen? I would like to be prepared.
 
Emperor_Gestahl said:
Well, to play devil's advocate.. I imagine for this particular CT the "collapse" in question is still impending.
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Well, "imagine" is definitely the right word in this circumstance.

That's a classic example of an unfalsifiable hypothesis. I'm reminded of "Delta Dawn," who "walks downtown with a suitcase in her hand, looking for a mysterious dark-haired man" and has done that every day for twenty-one years.

There's a reason that "all the folks 'round Brownsville say she's crazy."

When the markets really fall apart then presumably the final checkmate would occur where the banks sort the wheat from the chaff as damn near every entity goes bankrupt, not just the lousy ones.
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The problem with that scenario is that the money has to go somewhere; you can't "overfish" a zero-sum game. And while finance isn't really a zero-sum game, it's close enough.
 
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