The Unknown $19 trizillion Depository Trust Company

[floydian slip]

A quadrillion is a number so big...

How big is it?

Its so fucking big that I can not wrap my mind around it!!!!

I googled (news tab) 'quadrillion' the other day to see whats going on and the top one was about Zimbabwe, the next one was about Natural Gas btu's err whatever...

The next one was about the the derivatives market and the UNITED STATES OF AMERICA!!

The derivatives market!!

WTF IS THIS SHIT THAT IS NOT MAKING HEADLINES?

http://technocrat.net/d/2008/9/19/49727

The Long Tail of the Trillionaires

Or is that tale? Here is the text from the Secretary of the Treasury's news conference today.

ed.z.: As you read this, understand what they are trying to sell to the public is the fairy tale that subsidizing billionaires when they bet wrong and get *way* overextended will have a long tail and "save the economy". Really, that's the big plan, that's what they came up with. Keep in mind, what they are trying to save is the collapse and most likely social unrest that would follow from one quadrillion dollars of derivatives and the gambling trade therein across the globe once a lot more people realize how ridiculous that is even in theory. That's a thousand trillion dollars, or what they claim is worth a thousand trillion dollars, which is beyond ludicrous, in terms of real goods it is less than a percent of that, but that is the casino economic system they are trying to save. Also note the complete toothless paper tiger that is Congress and how they keep going along with this great heist (along with other big nations and their equivalent central banksters and legislatures, plenty of blame to throw around here, it isn't all just the US we're talking). They've abdicated all authority and all reasonableness and seem to think it is perfectly OK for a group of private bankers and their drinking buddies to just *seize* vast swaths of the economy and put the tax payer as the ultimate guarantor and a few of the elite get to stay "the elite" instead of becoming bankrupt and out on the street looking for a real job like they deserve. YMMV, that's how I see it today, just more mass thievery.

BTW, tangibles-stuff you can really put your hands on- still rule...

Save yourself... a letter from son to father
http://news.goldseek.com/GoldSeek/1221843136.php

Editor's Note: A good example of an important message to a family member in these critical times:

By: Vincent Bressler

Here's the bottom line:

The skeleton of the world's dollar denominated financial system is one quadrillion dollars worth of unregulated over the counter derivative contracts. These derivative contracts can not be closed out. Forget about the solutions that you have heard about so far. There are only two possible resolutions:

1) Default through hyperinflation of the dollar - injection of hundreds of trillions of dollars in to the world's money markets, while issuing of new derivatives is stopped dead in its tracks.
2) Bankruptcy

What we have now is a combination of both 1 and 2. This will continue until the disease has been purged. Unless reasonable assurances are given to the market that the number of dollars to be printed will be contained, the dollar will be destroyed. Only a re-linking to gold, either directly or implicitly, can save the dollar.

Most financial entities will be destroyed. Pooled stock accounts will be raided during bankruptcy proceedings. Exchange traded funds that track hard commodities like gold and silver will default. Futures markets will default.

Here's where to find financial safety right now, most secure at the top, less secure going down

a) Gold and Silver physical bullion in your personal possession.
b) Share certificates in well capitalized companies (that do not have forward sales or derivative exposure) that produce, hold or have royalty streams in gold and/or silver

c) Swiss treasuries - Make sure that you own these in your name. I don't know exactly how to do this
d) Canadian treasuries - Make sure that you own these in your name. I don't know exactly how to do this
e) US Treasuries - Make sure that you own these in your name. I don't know exactly how to do this

Depending on how things turn out, items c,d and e may end up being worthless.

Vincent Bressler
vincentbressler@yahoo.com

-- Posted Friday, 19 September 2008

knowing this... we are still free

right?

[vernarial]

Good read. Thanks Floyd.