He didn't expose anything: people who understand a little finance have known this for years. Banks are over leveraged hedge funds. They are dangerous, have been since Glass-steagal was repealed. And it's much much worse. They hold dangerous amounts of derivatives and if the underlying assets get discovered that the derivatives are insolvent and banks try to unwind this mess, taxpayers will instantly be turned into share holders of bankrupt banks. Etc. Etc.
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vastrightwing ago
He didn't expose anything: people who understand a little finance have known this for years. Banks are over leveraged hedge funds. They are dangerous, have been since Glass-steagal was repealed. And it's much much worse. They hold dangerous amounts of derivatives and if the underlying assets get discovered that the derivatives are insolvent and banks try to unwind this mess, taxpayers will instantly be turned into share holders of bankrupt banks. Etc. Etc.
Tancred ago
Exactly and the whole point of the abolishing of cash is to force every citizen to bail in the banks.
How greedy can these fucking cunts get? Isn't the way they're currently stealing enough?
iamrage ago
When's enough? Banks are like black holes, shit's never enough.
Tancred ago
If they collapse the system, all of their amassed currency will be worthless.