Dropping Oil Price - Who will hold the derivatives can?

[pseudolus]

Jamie Dimon, CEO of JPMorgan Chase, was a busy boy in the last couple of weeks lobbying with his best mate obomba to repeal the Lincoln Amendment of the Frank Dodd act.

Before the oil price fell through the floor, the banking lobby didn't really care about this too much. However this amendment stopped bankers from risking depositors funds on their stupid risky derivative bets so when the "too big to fail" banks realised that they are in the hole for trillions of dollars of derivatives lost bets, they needed to claw some of this back. Repealing the Lincoln Amendment means that 5% of their losses are now covered by the money deposited by the man in the street with these sociopath gambling addicts.

5% is not that much they say. Well, To Big To Fail banks are on the hook for TRILLIONS of dollars in oil derivatives. Trillions.

So some of their losses will of course be paid for by the tax payers, but now, thanks to obomba and his funder, friend, advisor and partner in crime Jamie Demon, the depositors in these shark banks are picking up the tab.

Another win for US democracy.

[harrybarracuda]

Jamie Dimon, CEO of JPMorgan Chase, was a busy boy in the last couple of weeks lobbying with his best mate obomba to repeal the Lincoln Amendment of the Frank Dodd act.

Before the oil price fell through the floor, the banking lobby didn't really care about this too much. However this amendment stopped bankers from risking depositors funds on their stupid risky derivative bets so when the "too big to fail" banks realised that they are in the hole for trillions of dollars of derivatives lost bets, they needed to claw some of this back. Repealing the Lincoln Amendment means that 5% of their losses are now covered by the money deposited by the man in the street with these sociopath gambling addicts.

5% is not that much they say. Well, To Big To Fail banks are on the hook for TRILLIONS of dollars in oil derivatives. Trillions.

So some of their losses will of course be paid for by the tax payers, but now, thanks to obomba and his funder, friend, advisor and partner in crime Jamie Demon, the depositors in these shark banks are picking up the tab.

Another win for US democracy.

That provision was written by Citigroup, pushed by a Republican (Kevin Yoder of Kansas) and lumped into the spending bill by the GOP in Congress.

And still idiots like you blame Obama for it.

Maybe you should fight for a change to the system.

https://downsizedc.org/etp/one-subject/

[pseudolus]

Bollocks. More idiocy from harry and his obama crush.

[harrybarracuda]

Now that's just plain stupid, the bankers fund everyone.

That's why I said Elizabeth Warren's presidential campaign was over when she said she wants to break Citicorp into pieces.

But you're still lying about Obama being behind the Cromnibus bill, or you're a silly fucker, not sure which.

[pseudolus]

1 - I am not bloody lying you daft twat.
2 - You seem to be of the opinion that because you obama wank mag says it was not him, therefore it is perfectly acceptable that the bankers can now steel pensioners savings to cover their bets.

You are pathetic. Said it before, say it now, and will no doubt say it again. You are pathetic.

[cnx37]

pseudolus

Please get out your crystal ball; your special cards; incense etc.

When do you expect the price to rise?
What will it peak at?
Date of peak?

For we mere mortals, too difficult. For you, enlightened one - too easy.
I humbly await your communication.

[pseudolus]

pseudolus

Please get out your crystal ball; your special cards; incense etc.

When do you expect the price to rise?
What will it peak at?
Date of peak?

For we mere mortals, too difficult. For you, enlightened one - too easy.
I humbly await your communication.

Umm you seem to have misunderstood the post. What you do need to know is that every day the price remains artificially low, the bankers are losing money, and that is now going to be given back to them from the savings accounts of the people on the street.

[cnx37]

A touch of sarcasm.
Playing with your Nostradamus side.

[harrybarracuda]

1 - I am not bloody lying you daft twat.
2 - You seem to be of the opinion that because you obama wank mag says it was not him, therefore it is perfectly acceptable that the bankers can now steel pensioners savings to cover their bets.

You are pathetic. Said it before, say it now, and will no doubt say it again. You are pathetic.

OK then so you're not lying, and you're a fucking idiot.

I told you *exactly* which Republican added this amendment to the bill, and even who wrote it; Obama didn't write it and he didn't put it into HR83.

He will have agreed to allow it because in return the Republicans will have agreed to leave his Immigration stuff and Obamacare alone.

Effectively they have both kicked the proverbial can down the road.

Your understanding of US politics is, as usual, the very model of fuckwittery.

[harrybarracuda]

Fuck me the cheeky c u n t s slipped in a grand a month car allowance for themselves as well.

"None of the funds made available in this Act may be used by the Chief Administrative Officer of the House of Representatives to make any payments from any Members' Representational Allowance for the leasing of a vehicle, excluding mobile district offices, in an aggregate amount that exceeds $1,000 for the vehicle in any month."

[pseudolus]

I told you *exactly* which Republican added this amendment to the bill, and even who wrote it; Obama didn't write it and he didn't put it into HR83.

Stillyou are being an idiot. Quote me where I said he wrote it. I said he lobbied for it.

[harrybarracuda]

I told you *exactly* which Republican added this amendment to the bill, and even who wrote it; Obama didn't write it and he didn't put it into HR83.

Stillyou are being an idiot. Quote me where I said he wrote it. I said he lobbied for it.

Stop being a tosser, all he did was sign it.

It's just more Republican gravy.

[pseudolus]

I told you *exactly* which Republican added this amendment to the bill, and even who wrote it; Obama didn't write it and he didn't put it into HR83.

Stillyou are being an idiot. Quote me where I said he wrote it. I said he lobbied for it.

Stop being a tosser, all he did was sign it.

It's just more Republican gravy.

Stop being an obomba apologist. He was lobbying for it, a lot of the time with jamie demon present.


Such a typical mainstream media obomba drone you really are - too stupid to realise that obomba is just as bad if not worse than bush, but more neatly packaged in a brown PC skin and a smoother teleprompter.

[harrybarracuda]

I told you *exactly* which Republican added this amendment to the bill, and even who wrote it; Obama didn't write it and he didn't put it into HR83.

Stillyou are being an idiot. Quote me where I said he wrote it. I said he lobbied for it.

Stop being a tosser, all he did was sign it.

It's just more Republican gravy.

Stop being an obomba apologist. He was lobbying for it, a lot of the time with jamie demon present.


Such a typical mainstream media obomba drone you really are - too stupid to realise that obomba is just as bad if not worse than bush, but more neatly packaged in a brown PC skin and a smoother teleprompter.

What a load of fucking tosh.

[Neo]

Get a room you two.

Worth a watch

[pseudolus]

Get a room you two.

If i wanted to share a room with a pathetic whining sheep, I would go to Wales.

Max Keiser is usually bang on the money. I bet harrynomates hates him.

[harrybarracuda]

Get a room you two.

If i wanted to share a room with a pathetic whining sheep, I would go to Wales.

Max Keiser is usually bang on the money. I bet harrynomates hates him.

Just ring the conspiracy bell and along comes a dribbling Pavlovian pseudolus yapping like a chihuahua.

[pseudolus]

Right so harrythetroll has complete immunity is seems to troll about in the top half slinging his shit all the time, not being on topic but dragging it to his preferred "I love obama" and then slinging shit.

Try to at least address the topic you chinless wonder. The bankers can now access 5% of their derivative losses from individuals saving. You could mention that this is outrageous, but no. You could consider why the mainstream media is basically ignoring this, not questioning it, or saying "thats fucking outrageous, but no. You could ask "where was the opposition?" but no. You could ponder "well obama didn't do it, honest, he told me as I was wanking over a picture of him instead of having a quiet night in with my imaginary friend, but why was he not shouting from the roof "THIS IS FUCKING OUTRAGEOUS" which if he is the messiah and you believe he is, he should be, but no.

No - all you do is blame the other mob (all paid by the same bankers that obama picks his cheque and orders from), and then have a pop at the messenger.

You are pathetic, harrynomates, fucking pathetic.

[Necron99]

Why don't you explain how exactly the banks are going to take 5% of people savings (accounts?) to cover their oil losses Psuedo?

No links, just a plain language explanation.

[pseudolus]

Bail in, baby.

Too big for fail banks that will lose a shed load of money from their gambling on oil will now be saved by depositors savings. Lincoln amendment stopped this from happening. What happened in Cyprus was the test is people would accept it. They did, so they are rolling it out globally started with the most placid relaxed wage waving nation in the world, the USA.

A triumph for democracy merkin style.

Simple enough for you?

And MOd boy, reign in that gobshite harry. Or are you so far up his arse you know whose cum he's just swallowed before it reaches his stomach?

[Necron99]

Bail in, baby.

Too big for fail banks that will lose a shed load of money from their gambling on oil will now be saved by depositors savings.

That bit,, right there.
Explain the mechanism for me. Will I just get a letter one day saying "Sorry, we lost a shitload on oil so have had to take 20k out of your account to cover it. Sorry 'bout that.:

[buriramboy]

Bail in, baby.

Too big for fail banks that will lose a shed load of money from their gambling on oil will now be saved by depositors savings.

That bit,, right there.
Explain the mechanism for me. Will I just get a letter one day saying "Sorry, we lost a shitload on oil so have had to take 20k out of your account to cover it. Sorry 'bout that.:

That's basically what happened in Cyprus.

[Necron99]

'Murica aint Cypress...

[buriramboy]

Bank of Cyprus big depositors could lose up to 60%

Bank of Cyprus depositors with more than 100,000 euros (£84,300; $128,200) could lose up to 60% of their savings as part of an EU-IMF bailout restructuring move, officials say.

BBC News - Bank of Cyprus big depositors could lose up to 60%

Article is over 18 months old.

[buriramboy]

'Murica aint Cypress...

No one thought shit like that could ever happen in an EU country.