A note of caution for those with deposits in US Banks

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Originally Posted by bkkandrew

Butterfly, much as I have enjoyed exposing your lack of knowledge over the past months,

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I think those posts above speak for themselves, troll :rofl:

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Originally Posted by bkkandrew

Corporate debt is not underwritten by the Treasury,

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Exactly, same as the State debt, and the Municipal Debt, it's not written by the Federal Government so why should the US Treasury be liable ? it doesn't, and those debt are NOT FDIC insured eitheir, troll, despite your attempt of derailing the discussion to those silly assumptions you were making. So got it now ? it's like asking should Germany be liable for the debt of France or Italy back in the days before the ECB. Of course not.

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Originally Posted by bkkandrew

the corporate debt figures have no place in the equation.

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and to that same conclusion, those state debt have "no place in the equation"

Game, Point, Set !!! thanks for playing troll :)

^No, you have missed the point. I was not saying they should or should not be included. I was saying that if you compare the figures between countries, the same class of debts should by calculated.

In the CIA handbook, by including State and Municipal debt for most countries, such as Canada, and not for the US, they are skewing the comparison. And as the direct comparison was what you started on this part of the thread, you have to admit now that the comparison was wrong and foolish to mention. A fact that you would have realised if you had bothered to read the background information on the figures.

So, point, game and set to you before I responded, but game, set and match to me.

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Originally Posted by Bugs

I don’t really bother to follow the value of the US money supply but I took a quick look and it seems the US money supply has actually shrunk recently so maybe they have not quite gotten around to cranking up the presses just yet - they better hurry to reach your Sept forcast.

Sharp US money supply contraction points to Wall Street crunch ahead - Telegraph

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The US money supply has experienced the sharpest contraction in modern history... ...the biggest one-month fall since modern records began in 1959.

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I am aware of this and forecast this in March here:

https://teakdoor.com/us-domestic-issu...tml#post578004

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Originally Posted by bkkandrew

they are skewing the comparison.

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not they are not, but again you completely missed the point and failed to answer every questions that were brought,

in true circular clown mode :)

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Originally Posted by bkkandrew

So, point, game and set to you before I responded, but game, set and match to me.

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hahaha, claiming your imaginary victory again, exactly like our good troll AA

^Right, what questions did I not answer? (Yawn)

And one for you, if the fact that the debt figures quoted for the US excludes all debts other than Federal debts, yet for Canada and most other countries includes a raft of debts, such as Municipal and State, why is this comparison not skewed?

M3 money supply data was supressed in 2006. I wonder why? :rolleyes:

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Originally Posted by Spin

M3 money supply data was supressed in 2006. I wonder why? :rolleyes:

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In March 2006, the Federal Reserve Board of Governors ceased publication of the M3 monetary aggregate. M3 did not appear to convey any additional information about economic activity that was not already embodied in M2. Consequently, the Board judged that the costs of collecting the data and publishing M3 outweigh the benefits.
The Money Supply - Federal Reserve Bank of New York

^Yes, how convenient.

So, I see here is yet another BKKA thread claiming the American economy is going to crash and burn. Amazing, I don't see the major hedge funds growing crazy and selling everything dealing with America short. How does BKKA know more than the heads of these multi-billion dollar hedge funds?

He must be one amazing guy.

But, I see he has predicated the end of the world as we knew it with the USA being the world's economic leader a number of times, but his predications never seem to come true.

So, should I take what the leaders of multi-billion dollar hedge funds are doing as a guide or should I believe this crackpot on an internet forum who has gotten it wrong in every previous prediction?

hum, tough choice, eh?

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Originally Posted by Bugs

In regard to repudiation why would they bother now or even after the election? To function the US needs to be able to sell bonds and such. Repudiation of the debt would make it near impossible for them to sell them, and would sink the value of the dollar at the same time. Might as well crank up the presses and pay off the debt that way.

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Repudiation almost exactly wipes out the current deficit, thereby negating a net need to sell bonds. Some people actually think that this will work.

In the same way, some people think that invading Iran is a good idea.

Back to my old friends on this thread - Bradford & Bingley.

Bradford & Bingley Requires More Customer Deposits, RBS Says

By Ben Livesey

Sept. 1 (Bloomberg) -- Bradford & Bingley Plc, the U.K. lender that posted a first-half loss on surging funding costs, needs to increase customer deposits to be viable, analysts at Royal Bank of Scotland Group Plc said.

``The group's viability from a funding perspective depends critically on its ability to maintain and grow customer deposits,'' said Ian Smillie, a London-based analyst at RBS. He reinitiated coverage of the stock with a ``sell'' rating.

Continued here:

Bloomberg.com: U.K. & Ireland

I stand by my bust or bailed out by end 08 prediction. This is despite being technically right already, as they were bailed out 6-weeks ago by BoE and the 4 High Street Banks (as discussed earlier on the thread)...

LONDON, Sept 1 (Reuters) - Bradford & Bingley Plc (BB.L: Quote, Profile, Research, Stock Buzz) said on Monday its sales director, Mark Stevens, had resigned, days after Britain's biggest lender to landlords warned conditions would continue to worsen.

Chief Executive Richard Pym said: "I had wanted Mark to stay but he has made a personal decision to leave us."

Last Friday, Bradford & Bingley announced it had sunk to a first-half loss, hit by 155 million pounds ($280 million) in writedowns and investment losses, and said bad debts had risen more than half since the end of 2007.

Its shares, which have lost 80 percent of their value since January, closed 4.6 percent lower at 46.75 pence. (Reporting by Dan Lalor; Editing by Quentin Bryar)

Bradford & Bingley's long-term IDR cut to 'BBB+'; outlook negative - Fitch



MUMBAI (Thomson Financial) - Fitch Ratings said it has cut UK-based Bradford & Bingley Plc.'s (B&B) long-term issuer default rating to 'BBB+' from 'A-' after its 2008 results announcement, citing the agency's view of the deterioration in the bank's underlying performance.

Fitch said it views positively the completion of the rights issue boosting the bank's capital position and the arrival of a new experienced chief executive.
The outlook on the rating is negative, reflecting B&B's deteriorating asset quality and profitability.

Fitch lowered the individual rating to 'C' from 'B/C', subordinated debt to 'BBB' from 'BBB+' and the preferred stock to 'BBB-' from 'BBB+'.

Bradford & Bingley's long-term IDR cut to 'BBB+'; outlook negative - Fitch - Forbes.com

I'll miss the bowler hats (not)...

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Originally Posted by Accidental Ajarn

Amazing, I don't see the major hedge funds growing crazy and selling everything dealing with America short.

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Maybe you should open your eyes then?

Billions of dollars recently went short on commodities and the long energy short financials trade was recently reversed big time.

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Originally Posted by bkkandrew

yet for Canada and most other countries includes a raft of debts, such as Municipal and State, why is this comparison not skewed?

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because, I repeat slowly again, Canada, and probably for other countries Treasury Department, those public debts (Munies) are guaranteed by the central government, which is the not the case in the US, then there is a need to remove those State debts from the stats.

However, it would be interesting to add also those debt in the computation regardless, even though it would be a biased computation. Anyway, that doesn't take away the validation of the original argument that Japan with 120% debt over GDP and being the second world power didn't put the world into complete financial cahos despite the size of its debt.

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Originally Posted by Butterfly

because, I repeat slowly again, Canada, and probably for other countries Treasury Department, those public debts (Munies) are guaranteed by the central government, which is the not the case in the US, then there is a need to remove those State debts from the stats.

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Link? Slooowly, if you like...

^Thought not. Butterfly spouting nonsense again.

^ Just Fucking Google It ? ever heard of it ? :)

^ Nope, you were just plain wrong. No change there then.

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Originally Posted by Accidental Ajarn

Amazing, I don't see the major hedge funds growing crazy and selling everything dealing with America short. How does BKKA know more than the heads of these multi-billion dollar hedge funds?

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This must be scotch mist then.......

"Ospraie Fund Falls From The Sky"

Ospraie Fund Falls From The Sky - Forbes.com

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Originally Posted by bkkandrew

you were just plain wrong. No change there then.

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Link ? :)

Incidentally just read some financial materials that confirmed what I was saying, that provinces related debt in the majority of foreigner countries were "issued" by their respective government treasury,

bkka, OwNED again. I think I will go to wiki now and oWneD the stupid bitch that was seeing all kind of silly conspiracy theory with the CIA numbers,

^So, an undisclosed source that you can't remember...

Which bar were you in at the time?

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Originally Posted by bkkandrew

that you can't remember...

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where does it say I can't remember ? reading too fast again, troll :)

^Well, its fairly simple. If you can remember the source, post it.

If you can't, you either can't remember or it doesn't exist...

^In order to embarrass Butterly further, as an example, Ontario's debt is not even guaranteed by the Province, let alone the state.

SEC Info - Ontario Province of - 18-K/A - For 3/31/06 - EX-99.F5

Butterfly's first language may not be English, but there is a strong possibilty that it is Bollocks.