[1]http://www.wsj.com/articles/once-the-biggest-buyer-china-starts-dump ing-u-s-government-debt-1444196065 [2]https://en.wikipedia.org/wiki/Reserve_currency [f18dQhb0S7ks8dDMPbW2n0x6l2B9gXrN7sKj6v5dfb6W5vwkZs7fZjrnW2BpKgF2zlZNzW 8v-hnY1k1H6H0?si=5459291358625792&pi=221ad7a7-f5a7-49a1-a680-833f76 806f9a] On Wed, Oct 14, 2015 at 5:41 PM, Cari Machet <[3]carimachet@gmail.com> wrote: China is pulling away from buying the debt of the US and hence pulling away from the dollar as its backed exchange rate ... meaning when a country holds in its banks enough US currency so that it can exchange the currency easily it is backing its money w the US dollar BECAUSE it cant then go to the US and say ok give me chinese yen ... it just has to hold the dollar in its system and therefor ownes the debt Presently the chinese see the futility of the system and are shifting i cant remember into what exactly ... will dig that up when i get a minute but they dont want to be basing econ on debt papers anymore The ever fucker nixon ... with dick cheney in his cabinet took the dollar off the gold standard and kind of fucked the world ... didnt warn anyone or nothin just did it In india the government just ask the people to loan their banks personal items of gold ... people buy it here as a personal investment like real estate such a contrary notion than the US On Oct 14, 2015 3:30 PM, "Georgi Guninski" <[4]guninski@guninski.com> wrote: On Sun, Oct 11, 2015 at 01:31:26PM +0200, Lodewijk andré de la porte wrote: > > [5]http://english.pravda.ru/business/finance/08-10-2015/132278-us_tr easury_swap-0/ > > > > > > "There are $630 trillion in outstanding derivatives globally according > > > to the Bank of International Settlements (BIS) in Switzerland. That > > > is, about $630 trillion in bets placed on about $100 trillion in > > > stocks and bonds." > > > > > > > Interesting (but doesn't seem citable reference to me). > > > > How the financial market is still working? > > > > And how such bets survived so far? > > > Counting derivatives as debt is definitely 100% misguided. They're also Maybe "Counting derivatives as debt" is indeed not correct. But gambling with something you don't have is serious potential debt problem. Especially, as you note, if the shit is amplified (which is likely in a ponzi scheme like this). Somewhat related (I don't claim it is the same): [6]https://en.wikipedia.org/w/index.php?title=Barings_Bank&oldid=684 442660 --- The bank collapsed in 1995 after suffering losses of £827 million ($1.3 billion) resulting from poor speculative investments, primarily in futures contracts, conducted by an employee named Nick Leeson working at its office in Singapore. --- -- Cari Machet NYC 646-436-7795 [7]carimachet@gmail.com AIM carismachet Syria +963-099 277 3243 Amman +962 077 636 9407 Berlin +49 152 11779219 Reykjavik +354 894 8650 Twitter: @carimachet <[8]https://twitter.com/carimachet> 7035 690E 5E47 41D4 B0E5 B3D1 AF90 49D6 BE09 2187 Ruh-roh, this is now necessary: This email is intended only for the addressee(s) and may contain confidential information. If you are not the intended recipient, you are hereby notified that any use of this information, dissemination, distribution, or copying of this email without permission is strictly prohibited. References 1. http://www.wsj.com/articles/once-the-biggest-buyer-china-starts-dumping-u-s-government-debt-1444196065 2. https://en.wikipedia.org/wiki/Reserve_currency 3. mailto:carimachet@gmail.com 4. mailto:guninski@guninski.com 5. http://english.pravda.ru/business/finance/08-10-2015/132278-us_treasury_swap-0/ 6. https://en.wikipedia.org/w/index.php?title=Barings_Bank&oldid=684442660 7. mailto:carimachet@gmail.com 8. https://twitter.com/carimachet