tag:blogger.com,1999:blog-4921988708619968880.post3886430340433275013..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: February 1 2009: The International Debt SetIlargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger71125tag:blogger.com,1999:blog-4921988708619968880.post-27552557764037596002009-02-02T17:20:00.000-05:002009-02-02T17:20:00.000-05:00Scott Horton thinks the LA Times got punked on the...Scott Horton thinks the LA Times got punked on their rendition story, though he too considers it spin:<BR/><BR/><I>There are two fundamental distinctions between the programs. The extraordinary renditions program involved the operation of long-term detention facilities either by the CIA or by a cooperating host government together with the CIA, in which prisoners were held outside of the criminalCompound Fhttps://www.blogger.com/profile/14798776271852973794noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-20237992520361134682009-02-02T15:20:00.000-05:002009-02-02T15:20:00.000-05:00FRONTLINE | Inside the Meltdown | PBS http://www.y...FRONTLINE | Inside the Meltdown | PBS<BR/><A HREF="http://www.youtube.com/watch?v=GPlsbzIT39I" REL="nofollow"> http://www.youtube.com/watch?v=GPlsbzIT39I</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-6584725935596809952009-02-02T15:05:00.000-05:002009-02-02T15:05:00.000-05:00http://market-ticker.denninger.net/archives/764-Id...http://market-ticker.denninger.net/archives/764-Idiocracy,-Part-Deux-for-Today.html<BR/>“The fact of the matter is that in order to keep down rates (that is keep up prices) while at the same time issuing near-unlimited amounts of new debt Treasury and The Fed must foment a stock market crash in order to scare what capital is available into government bonds!<BR/><BR/>This was in fact done twice inAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-78110459115031243702009-02-02T15:01:00.000-05:002009-02-02T15:01:00.000-05:00One should also add that Eric Holder hasn't even b...One should also add that Eric Holder hasn't even been confirmed by the Senate yet, so it's still a bit early for judgment on Geneva, anyway.Compound Fhttps://www.blogger.com/profile/14798776271852973794noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-29594881479715024712009-02-02T14:47:00.000-05:002009-02-02T14:47:00.000-05:00That's simply not good enough. Geneva is not a toy...<I>That's simply not good enough. Geneva is not a toy. That's all there's to it. Looking at this from a US point of view doesn't cut it. Look at it through the eyes of Europe, Africa or Asia, and the picture becomes clear. You're either clean or you're not., it's a PR issue. "Mostly comply" is nonsense.</I><BR/><BR/>I'm neither condoning nor forgiving the failure to comply with Geneva.Compound Fhttps://www.blogger.com/profile/14798776271852973794noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-37920893768661210392009-02-02T14:24:00.000-05:002009-02-02T14:24:00.000-05:00These paragraphs are written by the site operator ...These paragraphs are written by the site operator - this one is screw-paypal.com.<BR/><BR/>"PayPal today is a far cry from Thiel and Levchin's dream. It's a far cry even from pre-IPO PayPal. Most of the bright young minds Thiel brought in to get the company airborne left shortly after the takeover. Safely nestled within the belly of the eBay monopoly, and without Billpoint to foster a competitiveAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44599877509402212992009-02-02T14:15:00.000-05:002009-02-02T14:15:00.000-05:00I can't find the article I read, but I found this ...I can't find the article I read, but I found this on a site that talks about PayPal's history - it's an excerpt from a book called the PayPal Wars.<BR/><BR/>"That's a far cry from the libertarian vision founders Peter Thiel and Max Levchin originally had for PayPal, an online payment service that enables account holders to send money to anyone in the world with an e-mail address. Thiel and Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-72266768476047763872009-02-02T14:02:00.000-05:002009-02-02T14:02:00.000-05:00PayPal history from here:http://www.internet-story...PayPal history from here:<BR/>http://www.internet-story.com/paypal.htm<BR/><BR/>It seems to involve the usual suspects:<BR/><BR/><BR/>PayPal was founded in late 1998 by American Peter Theil, former securities lawyer and options trader. He and a group of friends from Stanford University created the company Confinity. Peter Theil financed Max Levchin, a software developer who saw the need for a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-80563944006081565732009-02-02T13:40:00.000-05:002009-02-02T13:40:00.000-05:00Mugabe,I think Ilargi has a somewhat idyllic view ...Mugabe,<BR/><BR/><I>I think Ilargi has a somewhat idyllic view of local communities to suggest "donating" a lot of real estate to them. What that effectively means is: donating houses to local officials, who then donate them to their relatives, friends, and financial patrons. The truth about local communities, outside of perhaps some Rockwellian exceptions in New England or some bands of stoic Stoneleighhttps://www.blogger.com/profile/15099878430757036461noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-20177864177753117192009-02-02T13:28:00.000-05:002009-02-02T13:28:00.000-05:00Hmm. Why wait for the government. How can we send ...Hmm. Why wait for the government. How can we send a message?<BR/><BR/> What if on principle everyone here, and on other concerned blogrolls, started purchasing money orders to pay all their monthly bills.<BR/><BR/>Is it possible to request that our employers similarly make our salary payments by money order?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-5652540463321508552009-02-02T13:23:00.000-05:002009-02-02T13:23:00.000-05:00Does Wikipedia give any information about PayPal?h...Does Wikipedia give any information about PayPal?<BR/>http://en.wikipedia.org/wiki/PayPalbluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58955583255800370952009-02-02T13:19:00.000-05:002009-02-02T13:19:00.000-05:00Maybe I have misread I&S's earlier Rattles...Maybe I have misread I&S's earlier Rattles, but I seem to recall that after the financial collapse and the deflationary time period, most people are not going to have much money, if any at all. <BR/><BR/>So why do they need a bank? Most banks are going to collapse too. So there is not going to be a need for bankers to run them. A simple setup at the post office to purchase a money order bluebirdhttps://www.blogger.com/profile/09600634086150466162noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-88123645169333197862009-02-02T13:16:00.000-05:002009-02-02T13:16:00.000-05:00Ilargi,I've been trying to find an article I read ...Ilargi,<BR/><BR/>I've been trying to find an article I read a while back about the people who started PayPal. From what I remember, it was started by 2 Russians who were trying to create a global currency that could not be controlled by any individual government and thus would permit individuals to escape the whims and follies of their governments. At the time, it was a fascinating article Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-83156020842534292992009-02-02T12:52:00.000-05:002009-02-02T12:52:00.000-05:00I fear you're right, Linda. The idea for a nationa...I fear you're right, Linda. The idea for a national bank is probably not even a political reality at the moment, so I might as well preface at least that it's assumed current senior financial executives won't be asked to run the thing. You raise a good point - if not them, then who? - but on the other hand, basic retail banking operations (deposit accounts, small loans, bond issuance) are really,Unknownhttps://www.blogger.com/profile/15614205920972531674noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-71144485159020478182009-02-02T12:42:00.000-05:002009-02-02T12:42:00.000-05:00Ilargi,Another problem I see with the national ban...Ilargi,<BR/><BR/>Another problem I see with the national bank concept is that with human nature being the way it is, I strongly suspect that the people that run the Post Office bank would be unemployed bankers. No matter what, I think the society would say that these are the people to hire because they have experience in running a bank and once there, they would try to go back to business as Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-60219625970883669712009-02-02T12:34:00.000-05:002009-02-02T12:34:00.000-05:00I have to second the above suggestion that "Roving...I have to second the above suggestion that <A HREF="http://www.debtdeflation.com/blogs/2009/01/31/therovingcavaliersofcredit/" REL="nofollow">"Roving Cavaliers of Credit"</A> is an excellent survey of macroeconomics and monetary theory in relation to the current economic crisis. I think watching "Money as Debt" on google video should probably come first, and after that, this. Chris Martenson's Unknownhttps://www.blogger.com/profile/15614205920972531674noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-30007884419030580492009-02-02T12:24:00.000-05:002009-02-02T12:24:00.000-05:00Finding a sustainable financial model will be done...Finding a sustainable financial model will be done.<BR/>It must, also, include a sustainable business model.<BR/>I would suggest looking at something that already exist as a starting platform.<BR/>Look at the Strata/Condo Acts for your area.<BR/>Bottom line ...<BR/>Reserves for future non recurring expenses, limited borrowing and balanced budget.<BR/>jaljalhttps://www.blogger.com/profile/16969819389823705458noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-30709652253308156902009-02-02T12:01:00.001-05:002009-02-02T12:01:00.001-05:00Charlie Gasparino is a discriminator of disinforma...Charlie Gasparino is a discriminator of disinformation for the benefit of insider traders. Everything he says should be analyzed from the perspective of forensics.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-47002031942010273762009-02-02T12:01:00.000-05:002009-02-02T12:01:00.000-05:00"The biggest advantages, ironically, are for the i...<I>"The biggest advantages, ironically, are for the individual. In our present system, paying off a $100k mortgage in full costs you $300-400k. And that is money that leaves your community, since the main lenders are not local. ..."</I><BR/><BR/>Could you achieve a similar result by simply forcing banks to be local? That is, banks can only lend within some geographic area, a town, a county, a Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-24625525502395665542009-02-02T11:36:00.000-05:002009-02-02T11:36:00.000-05:00It’s obvious to me that capital markets are of str...It’s obvious to me that capital markets are of strategic importance and manipulating them to your advantage is just another series of chess moves in geopolitical competition. Who does the bidding for the U.S. government in capital markets? The Fed, Goldman Sachs and J.P. Morgan? Maybe they aren’t really too large to fail but have too many secrets to fail and fulfill key government functions. <BRAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-76984433105822570972009-02-02T11:25:00.000-05:002009-02-02T11:25:00.000-05:00The experts are saying that the technicalites of t...The experts are saying that the technicalites of the problem are such that the only solution is for everybody to chip in 10.000 dollars. And is all good and wonderfull investment. <BR/><A HREF="http://money.cnn.com/galleries/2009/news/0901/gallery.money_summit/index.html" REL="nofollow">10 questions on CNN</A><BR/><BR/>I think I read this on a fairytale couple days back.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-1955394869244783672009-02-02T11:20:00.000-05:002009-02-02T11:20:00.000-05:00Further to last, I was referring to this article.I...Further to last, I was referring to <A HREF="http://business.theglobeandmail.com/servlet/story/RTGAM.20090202.wrflaherty02/BNStory/Business/home" REL="nofollow">this article.</A><BR/><BR/><I>In a shift that reflects the evolving nature of the struggle against the financial crisis, Canada's top economic policy makers are becoming less critical of bankers' lending practices and resetting their Unknownhttps://www.blogger.com/profile/15614205920972531674noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-44003221793603582482009-02-02T11:17:00.000-05:002009-02-02T11:17:00.000-05:00I've made the suggestion in the past that national...I've made the suggestion in the past that national governments need to bypass the banks and provide retail banking services directly to the populace. My suggestion was to merely nationalize a bank with national scope. Post Office bank, nationalized bank, not much difference, except I think it would be more efficient in the short term to take advantaged of the already-in-place trained staff of a Unknownhttps://www.blogger.com/profile/15614205920972531674noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-19266396249151070722009-02-02T11:05:00.000-05:002009-02-02T11:05:00.000-05:00I have a personal finance question. I assume the ...I have a personal finance question. I assume the life insurance companies are about as solvent as the banks. I can't trust the insurance ratings system, Moodys et al. We have a term policy due this month on my husband. We have a small business and the policy is to protect those interests. Do I pay it and cross my fingers? The cost of the policy is not a hardship for us but I loathe sending Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-45214178413157946032009-02-02T11:02:00.000-05:002009-02-02T11:02:00.000-05:00Ilargi,So true! I don't need any bank, nor do ...Ilargi,<BR/><BR/>So true! I don't need any bank, nor do I want to be complicit in the banksters' schemes. I've learned much here regarding the corrupt practices of commercial banks. Thank you, I & S.<BR/><BR/>All we need is a place to cash our payroll checks, pay utility bills and get a money order to pay our one credit card (when used online) balance every month. Currently, one Anonymousnoreply@blogger.com