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Chris Martenson's Crash Course

Discussions about the economic and financial ramifications of PEAK OIL

Re: Chris Martenson's Crash Course

Unread postby Armageddon » Sat 08 Sep 2018, 14:52:19

The 2008 financial crisis cost the U.S. economy more than $22 trillion, a study by the Government Accountability Office published Thursday said.

Financial Crisis Cost Tops $22 Trillion, GAO Says | HuffPost

22 trillion + missing 21 trillion is pretty close to my above post of 50 trillion. I’m sure the FED was giving hundreds of billions if not trillions in secret money to the entire banking system too. This fiat system has no accountability.
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Re: Chris Martenson's Crash Course

Unread postby Zarquon » Sat 08 Sep 2018, 15:40:52

Armageddon wrote:Here’s 21 trillion not even counted for

https://www.forbes.com/sites/kotlikoff/ ... 55a9f84a73


"In our prior column, Mark and I wrote about $21 trillion in unaccounted government transactions, primarily on defense. The DOD's (Department of Defense) as well as HUD's (Department of Housing and Urban Development) Offices of Inspector General (OIG) reference these transactions as "unsupported journal voucher adjustments." This is polite accounting language for lost, hidden or stolen money. If such "adjustments" were small, it would be one thing. But they totaled some $21 trillion between 1998 and 2015!
...
While Norquist’s description of the unsupported adjustments is not the only one that has been offered, some evaluation to assess the veracity of this explanation is possible. Consider the case of the Army for which we found $11.5 trillion in unsupported adjustments over the 1998-2015 period. During this time period, authorized general fund Army spending was about $2 trillion."

In other words, the Army alone stole six times as much money from its budget than it received in the first place. $6.5 trillion of that in one year alone, more than the entire federal budget. Actually, they lost or stole almost half of *all the dollars in the universe* in 2015. Holy shit! This is some serious fraud.

Sorry, but at some point I'd have to ask you if you've replaced the batteries in your bullshit detector lately. Is the green status LED still on?

Damn, I'm beginning to sound like AdamB...

Anyway, try this:
https://www.metabunk.org/debunked-missi ... ers.t9718/
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Re: Chris Martenson's Crash Course

Unread postby Newfie » Sat 08 Sep 2018, 15:43:59

I posted this on the “Eat the Rich” thread but it seems very relevant here.

AND then here is this. It seems these guys want the banking bureaucrats to have more power to avert the next crash. According to these guys the USA made a nice return on investment during the last crash.

https://www.nytimes.com/2018/09/07/opin ... %2Fopinion
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Re: Chris Martenson's Crash Course

Unread postby onlooker » Sat 08 Sep 2018, 15:49:55

This fiat system has no accountability

Including the immense derivative market estimated in the trillions. The numbers are staggering and combine that with insatiable greed and so much money out of thin air and it's easy to see the financial system bringing down the whole Economy. Which may be why the rest of the planet seems to be trying to disconnect from the Western especially US economic model and ties. They don't what to be bought down by US economic implosion. Of course, the question begs can the world Economy handle the Collapse of the US economy.
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Re: Chris Martenson's Crash Course

Unread postby ralfy » Sat 08 Sep 2018, 19:04:27

Armageddon wrote:The 2008 financial crisis cost the U.S. economy more than $22 trillion, a study by the Government Accountability Office published Thursday said.

Financial Crisis Cost Tops $22 Trillion, GAO Says | HuffPost

22 trillion + missing 21 trillion is pretty close to my above post of 50 trillion. I’m sure the FED was giving hundreds of billions if not trillions in secret money to the entire banking system too. This fiat system has no accountability.


Thanks for sharing that. The GAO study is linked in the article:

Financial Crisis Cost Tops $22 Trillion, GAO Says
http://sites.google.com/site/peakoilreports/
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Re: Chris Martenson's Crash Course

Unread postby Zarquon » Sun 09 Sep 2018, 00:49:53

Armageddon wrote:Ive read it took 50 trillion dollars by Federal banks to stop the 2008 crash (bailouts, buyouts, TARP ETC).
...
22 trillion + missing 21 trillion is pretty close to my above post of 50 trillion.


You add up accounting screw-ups by federal agencies, GDP lost to the recession and lost real estate wealth, and then call it all money secretly printed by the Feds. Because you read something like it on the interwebs.

I rest my case.
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Re: Chris Martenson's Crash Course

Unread postby Newfie » Sun 09 Sep 2018, 06:35:33

But isn’t that just the premis or the “Eat the Rich” thread/meme? That there are folks with extreme wealth? I keep trying to point out it is all just Monopoly money.

The prime example is the loss claims made in the Maddoff case; investors claimed to have lost billions when they invested only millions. The rest was just Bernie’s imagination. What they lost was a lie, what they gained was a dose of reality.

That is unless you secured a loan against these fake sums, then you turned a concept into a debt.
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Re: Chris Martenson's Crash Course

Unread postby onlooker » Sun 09 Sep 2018, 09:01:56

Well, in fact this Monopoly money - fictitous digits on screen has real life consequences. If one looks at what is happening around the world, one can see the priviledges and advantages that money provides. One can also see an immense amount of corruption that is connected to vast wealth. Money Laundering and tax havens are but some examples. And the stock markets it seems rigged for the sake of this system. Banks being bailed out rather than people. Of course even darker activities like human and drug trafficking raking in so much money. All this creating conditions of huge inequality and social strife. You see gentrification going on in big cities, bulldozing away poor neighborhoods for real estate speculation, huge events like the Olympics in Brazil are feasts of corruption at the expense of the poor as they are displaced and marginalized even more. All this example of the real life effects of money or lack of.
You even see in the US, as whole cities seemed to have been left to squalor like in the Rust belt and heartland USA and Puerto Rico after the hurricane. So, these exorbitant sums of money affording corporations, wealthy families and governments the leverage to crowd out and out compete poorer areas and entities. So, huge masses of people and the Earth being exploited and marginzalized by the power of money. So, as long as we have a monetized world Economy, this Monopoly digitized money is all too real because the real life effects are all too real.
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Re: Chris Martenson's Crash Course

Unread postby Newfie » Sun 09 Sep 2018, 11:36:19

Yes, that’s true. It als happened without money. It’s human nature to break into tribes and attack one another. The Monopoly money is a symptom, not the disease.
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Re: Chris Martenson's Crash Course

Unread postby onlooker » Sun 09 Sep 2018, 12:00:52

Newfie wrote:Yes, that’s true. It als happened without money. It’s human nature to break into tribes and attack one another. The Monopoly money is a symptom, not the disease.

Good point Newf. It is just that money has allowed for a more civilized way of out competing and butchering each other. :razz:
We always come back to the problems reside in us.
Hey Newf, hope you are out of the way of Florence as this newest hurricane seems to be packing quite a punch. :)
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Re: Chris Martenson's Crash Course

Unread postby Newfie » Sun 09 Sep 2018, 12:07:29

Yes, we are still in Newfoundland. Issac is a mild threat to our big boat in Grenada.
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Re: Chris Martenson's Crash Course

Unread postby ralfy » Sun 09 Sep 2018, 20:41:13

http://sites.google.com/site/peakoilreports/
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