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mike montagne
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Post subject: NO, ELLEN. IT'S NOT THE DERIVATIVES, STUPID Posted: 06 Oct 2008, 11:42 am |
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Joined: 24 Jan 2008, 8:33 pm Posts: 492
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olrailbird
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Post subject: Re: NO, ELLEN. IT'S NOT THE DERIVATIVES, STUPID Posted: 18 Mar 2010, 8:43 pm |
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Joined: 16 Mar 2010, 12:15 am Posts: 7
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The best estimate of derivatives gambling I've encountered is 1.14 QUADRILLION dollars.
My goodness that's a whole lot of money!
Now, now, that's the gamble, not the vigorish. (I know something about takeout, check my username.)
Most people call it gambling, but bankers call it contract insurance. Anyway, the take on such deals must be between 2 and 10 percent. Let's minimize and say 2%.
Two percent of ONE QUADRILLION DOLLARS is ($1,000,000,000,000,000 * .02) TWENTY TRILLION DOLLARS. More money in "fees" than the entire yearly GDP of the US. CASINO PROFITS,eh?
Admiring the fees is one thing, but considering LOSSES is another. Derivatives are insane.
The funny thing about USURY is it doesn't just include interest on loans. Any UNEARNED PROFIT is USURY. I'd like to know how MPE addresses USURY in other forms (INSURANCE, FEES and just simply PADDING THE BILL?) There are so many ways to legally steal your money...
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