Note: Currently 9 States facing bankruptcy are: California, Florida, Wisconsin, Oregon, Rhode Island, Arizona, Nevada, New Jersey and Michigan.
Amidst growing pessimism about the financial condition of U.S. cities and states, investors are increasingly buying financial instruments that essentially allow them to short sell - or bet against - cities and states, says a Wall Street Journal report.
Offered by banks like JP Morgan, Bank of America, and Citigroup, the so-called municipal credit default swaps can be used by investors to bet that insurance contracts protecting holders of municipal bonds will default.
Some states say the derivatives not only scare away potential buyers of municipal bonds by creating a perception of risk, but ultimately drive up states' borrowing costs. Others contend that the instruments are traded too thinly to affect municipal bond markets or a state's credit rating.
The California treasurer is just one of a number of state treasurers that have launched a probe into the sale of these derivatives and the sale of municipal bonds by big Wall Street firms that might reveal "speculative abuse of CDS in the muni market," says one regulator.
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They bailed out NY because of Wall Street so looks like California is going down first. California always lead the way in innovation and now implosion..
ReplyDelete"Oh-Shit-Ah-Fornia" will be on the lips of the spooked sheep.
LOL!
Ha Ha Ha, this gets funnier by the day, no, by the hour. And this surprises you?
ReplyDeleteFolks, the banks run things, figured that out yet? They will do what they want when they want.
And the sheeple say BAAA!
Its all by design.
There isn't enough rope for all the people that need to be punished...I hope they at least squash their trade or confiscate the whole damn thing.
ReplyDeleteWho bailed out NY? Far as I can tell, nothing has been done for any state and every state in the union is facing bankruptcy.
ReplyDeleteThis is by design. The Fed will take over everything.
Easy, simple design. The Fed can just print money out of thin air, the states are left out to dry.
ReplyDeleteFed will take over police forces, etc. Wonderful. See expatriate article and get the hell out of Dodge while you still can.
The Feds are taking over everything, right now.
ReplyDeleteTime is short. Get the hell out of dodge while you can.
Anybody know a country I can go to with only a little money and work and live?
It's all about oil and de-population.
ReplyDeleteReal estate must go down in value so Americans can afford more expensive food, energy and manufactured goods. Meanwhile, the Third World will wither away at an increasing pace.
If you bought real estate at over-inflated prices, you shot yourself in the foot. No tears for you.
I'm a state cop and we were made FEMA years ago right after Katrina...Made sense to use peace officers in case of national emergencies but now it looks all evil and planned.
ReplyDeleteMake of it what you will.
By the way my department strengths are in crowd control/riots and inmate control...No bullshit...So who knows?
Anybody here read that lil series..."The Day The Dollar Died?"...Bit hokey but more than believable.
(Cue spooky music in the background)
What is spooky is the unknown. Fema and the coming internments are known, and very real. Just one of many things around the corner for the sheeple populace. Watch the online video Camp Fema.
ReplyDeleteFEMA is fucking nonsense.
ReplyDelete3:43,
You made FEMA camps after Katrina? Is that what you are saying?
3:46,
FEMA Camps have been around forever... and yet they are releasing inmates from state prisons all the time as well as police officers because the states can't afford them. They act like pussies when dealing with illegal immigrants, many of whom are sent here deliberately to bring drugs. But you think they will just start collecting ordinary citizens as if they are Jews and load them on trains to be sent away to FEMA... fucking ridiculous. If only they would ever have enough police officers to do that, and soldiers are way too honorable for that kind of shit. Police officers struggle all the time with resistant criminals and often get their asses kicked. There are no secret fighting skills despite the images Hollywood has bombarded us with. Many couldn't even shoot their way out of a box. Think on that for just a minute.
Denial/ignorance. I am sure the Japanese in '44 never saw it coming either.
ReplyDeleteSheeple will always defend and/or underestimate the sheep dog. That is how it works.
ReplyDeleteA population of mindless drones.
5:29 is right. cops are dumb shit. dont mess with them. they have low moral standards.. but its not hard to get away from them.. its also not hard to be killed by them.
ReplyDelete3:43 is the reality to all this.. while he and many police are legitimate people.. most are not.
Not sure there is anything to this, but I've never trusted the paper changes to the fiat crap. Here's a little review of the new "gold certificate."
ReplyDeleteThe Hidden Meanings in the New $100 Bill!
Take a real close look at the new bill keeping in mind that the US has a special history of hidden meaning behind their bills and there's a real possibility of a currency crash (with a return to the Gold Standard) in the very near future.
...
OH MY GOODNESS...GOLD GALORE!! A Gold Ink Well, Gold Liberty Bell, Gold Feather Pen, Gold "100", Gold Watermark, Gold Writing in the background, Gold "July 4, 1776"...there's even a HUGE gold "100" on the back of the right side. The right side of this bill is so full of gold it will probably droop when you hand it to the cashier!
...
Can "They" make it more obvious...GET READY FOR A GOLD STANDARD!
...
Get ready for a Gold Standard because we are just about there!
I'm very bullish on gold and always will be, however I hate to tell 7:46PM that YES, IT WILL BE A GOLD STANDARD, but not physical gold.
ReplyDeleteI will mean you meet the GOLD STANDARD of citizenship, obedient even unto shooting your own mother for the state, and it will be called DIGITAL GOLD.
DIGITAL GOLD.
THE ONLY GOLD YOU'LL EVER NEED.
*hi energy commercial music with horn swells*
5:29 who said anything about FEMA camps?
ReplyDeleteI'm just telling you that I and my department of prison cops were signed over to the feds in case of emergency...That's a fact.
My department handles crowd control, riots and detention...That's also a fact.
We're at least 33,000 in just Cali...And while I agree that half of us cops are fat, lazy and a bit stupid...There's quite a few of us that aren't and we're quite handy with expandable batons, 40mm direct rounds, CN gas grenades, shotguns, 38 S & W, 9mms and my sweet ass mini-14.
We get alot of big talkers but a lil pepper spray or a whack to the back of the leg and you'd be surprised how much of the fight leaves you.
I was just stating that I signed up for the Golden State not the feds because they decide to fuck things up...When you combine departments not ment to be together there are SO MANY ERRORS.
But as always there has to be some douche who lumps ALL law enforcement as "Bad Men."
Try to grow up and get beyond propaganda...Some of us are professionals not just knuckledraggers...One thing you learn inside is manners because soon will come a day when the wrong thing said to the wrong person will get you hurt bad and there will be no repucussions.
So hope you don't act in real life how you try to portray yourself in anonymous cyberspace.
It will all come down to Gold I agree...but it will all be digital gold like 10:05 said.
ReplyDeleteIt already is here in sorts. take the pass and go credit cards/bank cards for example. But those can and will be lost or stolen/counterfeited so then the feds will mandate that the chip in those cards be implanted under the skin on the back of the hand. Which of course will include a barcode and we all know what number is present in every barcode...
SO CHEW ON THAT ONE!!!
I had a copppers pulls me over recentlies right and he's like 'you got any bombs or dead bodies in the car?' and I'm offended see because what makes him think I'm more capable of satanical homocide for the thrill kill and cannibalism like Rob Zombie than his mother is? Because I have long hair and abuse drugs and know who Aliester Crowley is? Is that why? Is it because I reek of SATAN even tho I regularly attend Catholic Church and eat the wafer because DEMONS maybe I need an exorcism? LIsen up
ReplyDeleteCOPPERS when you pull CITIZENS over be respectful. Don't ask the guy if he has any bombs or dead bodies in his car.
That's like asking a guy if he's gay, ok?
You just don't do it.