Face
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Face
Joined: Dec 27, 2010
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July 6th, 2015 at 4:51:19 PM permalink
I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?
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JohnnyQ
JohnnyQ
Joined: Nov 3, 2009
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July 6th, 2015 at 6:12:49 PM permalink
Quote: Face

I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?


At least for the US of A, I think all the Treasury Bond holders have some of that.

But I wait for some of the deep thinkers to weigh in and clarify. Also, do "future" obligations count as debt on the current books ?

Now, regarding Greece. Economies are built on jobs, mfg, service, or otherwise, right ? So NOW what corporation would want to invest in Greece and create jobs there, which I think is the only way out of their predicament of high unemployment.
Like the castle in its corner In a medieval game; I foresee terrible trouble And I stay here just the same
odiousgambit
odiousgambit
Joined: Nov 9, 2009
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July 6th, 2015 at 6:34:55 PM permalink
Quote: Face

I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?



shhhh. Keep going and you will reveal the secret basic vulnerability of capitalism. To simplify it into one concept, you can just say for any bank, any bank, there must never be a run on the bank or it is ruined [without bailout]. The money is simply not there.

The credit default swap fiasco was a similar 'must never happen' scenario.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
JohnnyQ
JohnnyQ
Joined: Nov 3, 2009
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July 6th, 2015 at 7:03:32 PM permalink
Gotta Love Google.....

"Everyone The U.S. Government Owes Money To, In One Graph"



BUSINESS INSIDER Article
Like the castle in its corner In a medieval game; I foresee terrible trouble And I stay here just the same
rxwine
rxwine
Joined: Feb 28, 2010
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July 6th, 2015 at 7:21:30 PM permalink
Quote: odiousgambit

shhhh. Keep going and you will reveal the secret basic vulnerability of capitalism. To simplify it into one concept, you can just say for any bank, any bank, there must never be a run on the bank or it is ruined [without bailout]. The money is simply not there.

The credit default swap fiasco was a similar 'must never happen' scenario.



Quote:

In the shell game, three or more identical containers (which may be cups, shells, bottle caps, or anything else) are placed face-down on a surface. A small ball is placed beneath one of these containers so that it cannot be seen, and they are then shuffled by the operator in plain view. One or more players are invited to bet on which container holds the ball – typically, the operator offers to double the player's stake if they guess correctly. Where the game is played honestly, the operator can win if he shuffles the containers in a way which the player cannot follow.

In practice, however, the shell game is notorious for its use by confidence tricksters who will typically rig the game using sleight of hand to move or hide the ball during play and replace it as required

Quasimodo? Does that name ring a bell?
TwoFeathersATL
TwoFeathersATL
Joined: May 22, 2013
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July 6th, 2015 at 7:52:38 PM permalink
Quote: odiousgambit

I don't know if we should try to out-do each other with our Reb credentials, but I do know people misuse the term "stars and bars" which I assume you did as well. This does not help your bonafides, sir, but if you are somehow to be given pardon for such misuse of terms I bow to your charitable associates and you may have the last word on the matter.


We should probably not flaunt our 'Reb Credentials', taint that popular most places these days. My 'charitable associates' leaves me clueless but that isn't really unusual and it's getting worse ;-)
Cheers to you Sir!
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
24Bingo
24Bingo
Joined: Jul 4, 2012
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July 6th, 2015 at 8:06:41 PM permalink
Other countries have most of our bonds, but most of that comes from their bonds. The people who "have the money" - that is, the ultimate creditors - are by and large private investment funds. After all, if you had a credit card that would advance you cash at 0.3% APR, what would you do?
The trick to poker is learning not to beat yourself up for your mistakes too much, and certainly not too little, but just the right amount.

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