The U.N. trade chief said Thursday there is a “missing link” in the international financial system that is becoming more critical as the global economic crisis drags on: What happens when a country is bankrupt and can’t pay its debts?

Marcellus: Something is rotten in the state of Denmark.
Sadie: Well…did you get a whiff of what’s on the global economic agenda.

http://news.yahoo.com/s/ap/20090626/ap_on_re_us/un_un_financial_summit_6

http://www.qando.net/?p=1567

>>I remember when ‘they’ thought Ma Bell was to big and broke down the company into Baby Bells. >>

My parents gave us some shares of AT&T for a wedding present. I remember my mother telling me “whatever you do, don’t sell the AT&T”. I don’t even remember what happened to the stock when they did that.

Trying again to make the above link an active one.

https://www.blogger.com/comment.g?blogID=1258979445050968882&postID=1961570080102137111

Or this:
http://benbittrolff.blogspot.com/2009/03/2008-financial-crisis.html and go to the comments.

If you go to the link and read through all of the article, then this one is enough to top it off:

http://www.themoscowtimes.com/article/600/42/375364.htm

Relevant material in the article:

” The Kremlin published its priorities Monday for an upcoming meeting of the G20, calling for the creation of a supranational reserve currency to be issued by international institutions as part of a reform of the global financial system.

The International Monetary Fund should investigate the possible creation of a new reserve currency, widening the list of reserve currencies or using its already existing Special Drawing Rights, or SDRs, as a “superreserve currency accepted by the whole of the international community,” the Kremlin said in a statement issued on its web site.

The SDR is an international reserve asset, created by the IMF in 1969 to supplement the existing official reserves of member countries.

The Kremlin has persistently criticized the dollar’s status as the dominant global reserve currency and has lowered its own dollar holdings in the last few years. Both President Dmitry Medvedev and Prime Minister Vladimir Putin have repeatedly called for the ruble to be used as a regional reserve currency, although the idea has received little support outside of Russia.”

http://www.theepochtimes.com/n2/content/view/13834/

I remember when ‘they’ thought Ma Bell was to big and broke down the company into Baby Bells. My phone bill was about $10-12/month once upon a time. We all know what our phone bills look like today – a mortgage payment circa 1960 something. Of course, way back then, the talking heads were not playing a game of the Fear Factor.

I was under the impression (obviously, I am impressionable and gullible ) that the SEC was suppose to oversee the ebb and flow of money, deals, etc.

As for Credit Default Swaps…I figured it out…

Bad decisions, poor management, delusions of grandeur, over paid executives, more than questionable politicians keep the real money/power and the rest of us poor slobs are incurring debt, paying off their bad decisions into the not foreseeable future.
They ‘swapped’ places with us. They still have credit and the tax papers will be in default.

First, news on the Federal Reserve, from link:
http://finance.yahoo.com/news/Fed-to-buy-up-to-300B-apf-14679757.html

The Federal Reserve announced Wednesday it will spend up to $300 billion over the next six months to buy long-term government bonds, a new step aimed at lifting the country out of recession by lowering rates on mortgages and other consumer debt.

Fed purchases should boost Treasury prices and drive down their rates. That would ripple through and lower rates on other kinds of debt. The last time the Fed set out to influence long-term interest rates was during the 1960s.

What does this mean? How serious is this first-of-its-kind intervention in the last 50 years? Where will the Federal Reserve get this $300 billion? Who has the authority to turn on the money printing presses? I certainly don’t know… yet.

—–

And an American Thinker article quoting Tom Maguire at length on how the AIG bailout money fiasco can be broken down. (And note, this has nothing to do with the irrelevant bonuses issue, which are a Gore-like Man-Bear-Pig deliberate distraction!)

http://www.americanthinker.com/blog/2009/03/insurance_commissions_failed_t.html

In there, I need to dig to find out what is behind the use of $44 billion of the bailout money as payoffs for “Securities Lending”. This is different from Credit Default Swaps, apparently. I don’t know the difference… yet.

But in that article, I clearly can see the payouts to good ol’ Henry “Hank” Paulson’s Goldman-Sachs, and the European banks… and there’s certainly a reason Hillary and Obama are kissing China’s a$$es right now, because we need to go far, far further into debt to SOMEONE, and the Federal Reserve Bank can only cover so much of it.

Thought question for the day: If someone, or a company, TRULY is “too big to fail”, and we have to bail them out with our taxpayer monies, or enslaving your grandchildren to massive debt… why are those companies not being broken up into smaller companies, so that “too big to fail” can’t be used against us again?

Just wondering aloud… and also wondering about that rotten smell…

Sigh.

>>https://www.blogger.com/comment.g?blogID=1258979445050968882&postID=1961570080102137111>>

Which raises a huge specter…New World Order. I’m not much of a conspiracy theorist, but I’m aware of chess players out there. I think this falls more into Ymar’s strength, but maybe I need to be more aware. Are there _really_ people out there working on this? I don’t know….