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+ - Financial Fix cost is $206K per person-on-plane->

Submitted by Richard0Thomas
Richard0Thomas (1548405) writes "The cost to fix the financial systems problem is going to be $206k per person-on-planet based on the USD 1.405 Quadrillion world wide derivatives bubble Mi2g. This does not include fixing the inherent core flaws in the worlds monetary / financial systems. What most don't realize is that the monetary system is nothing more than an accounting system. Money is not printed except for convenience, money exists only as an accounting entry. We pay trillions for the use of the accounting system which any group here could set up and run charging only 100 million yearly and still make a hefty profit. The complex sounding financial jargon is simply to obfuscate what is actually going on. On http://coinage.me they have put it very simply for everyone to understand.
  • Derivatives = Bets
  • Credit Default Swaps = Insurance on bets
  • Hedge Funds = Borrowing of money to gamble with (unregulated and secret also used to manipulate markets)
  • Taxpayer Bailout = Taxpayers covering the gambling losses for gamblers?
  • Reality = Insurance (e.g. AIG) cannot cover failed bets which amount to: USD 206k per person-on-planet. The number it is based on has grown from USD 1.144 Quadrillion last year to USD 1.405 Quadrillion, ie, +22% worldwide. The GDP of the entire world is only USD 50 trillion.

A few accounting entries is all it takes to fix this problem, literally erasing the bogus value much to the dismay of a few but not the many. An entirely new system is required to eliminate the core flaws and a global currency will not work properly for the common economic system participant because of the disparity between the economies of various countries. What has been suggested is localized regional value exchange systems that would interface with other regional systems in a totally transparent and "natural" market manner.

I will leave you with this thought, if you went to a bank and asked to borrow money to go to the casino what do you think they would tell you? The banks did not need to ask anyone. They should have asked the US citizens because they are the ones backing the banks with a portion of their future labor potential. Sure the odds would usually be better than a casino, but in review of some of the financial instruments the actual odds were worse than the casino."

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Financial Fix cost is $206K per person-on-plane

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