U.S. Bailout Costs May Reach $23.7 Trillion, TARP Inspector Says

No country with this amount debt outstanding has ever paid it back. It will be a) inflated away or b) it will repudiated entirely.

What's the big shock. Where are the headline in this?

Get real....get over it.

The shame of it all is for one to miss the trees for the forest. Don't be that guy.
 
Quote from the1:

easier said than done. You have to get accepted by another country, then apply for citizenship in that country, and then I believe the IRS can still chase you overseas for something like 10 years. The government has this all planned out so you can't just pick up and leave. It's all part of the grand plan. No one can escape the destructive spending of congress and the Fed.
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If you have some money you can always get a passport in a banana country such as Belize etc. However escaping Uncle Sam's IRS is a whole different matter...
 
Quote from 4XQs:

If you have some money you can always get a passport in a banana country such as Belize etc. However escaping Uncle Sam's IRS is a whole different matter...
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incorporate in this belize. make a money outside(US stocks/futures) and you don't have pay a dime. take the profits and spend it overseas. the money is not yours..it's a corporation money. you did not receive a penny. so-what they going to tax?
what's really sad that they literally force you to do something like this. because it make no sense to work, if you are taxed to death.

Russia-flat 13-15% on income\cap gains regardless short or long term. why cheat if taxes this low? not worth it. plain and simple
 
Quote from ASusilovic:

July 20 (Bloomberg) -- U.S. taxpayers may be on the hook for as much as $23.7 trillion to bail out financial companies, according to Neil Barofsky, special inspector general for the Treasury’s Troubled Asset Relief Program.

Barofsky made the estimate in testimony prepared for a congressional hearing tomorrow.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aQEI97EY.fs0

ROFLMAO ! :D
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What “entity” has 23 trillion US dollars to lend to the US Government?
And of course that “entity” will be collecting the interest on that debt, paid back by the taxpayer.

Just to make it clear, that “entity” is not the US government. The US gov is borrowing that money and has to pay it back with interest. (out of the treasury- taxpayers)
So, who benefits from all that debt? Who issues that debt? Who has all that $$$ in USD, to lend to the US of A and where did they get it?
 
Quote from sharkbites:

What “entity” has 23 trillion US dollars to lend to the US Government?
And of course that “entity” will be collecting the interest on that debt, paid back by the taxpayer.

Just to make it clear, that “entity” is not the US government. The US gov is borrowing that money and has to pay it back with interest. (out of the treasury- taxpayers)
So, who benefits from all that debt? Who issues that debt? Who has all that $$$ in USD, to lend to the US of A and where did they get it?
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This is that "Hollywood " moment that rings true....

"All the money in the world" will not solve the problem....

No joking....This is now literal....

One would think that there would be more intelligence in the important places....before getting to this point....

Obviously there is not....and there was not....

A little late.....but perhaps a hint that it is time to change the system....?
 
This is an attempt at wholesale takeover and bankrupting of the US by a privileged minority population.

Wallstreet should be burned down and all the bankers hanged.

Problem solved.

Taxpayers get to keep their money.
 
Quote from Scataphagos:

Seems to me that's what they're trying to avoid... so that everybody gets paid. And because counter-parties did not reserve assets to honor obligations, the only place they can get paid from is the tax payer.
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They are only trying to avoid it as to honor the contracts that are in place. If they can have the system digest everything and move it off somewhere to be written off and die they will.

Make no mistake, as many people have, they will bust the hell out of these contracts if they have to - it's done all the time. Too many people on this board quote numbers in the Trillions of USD and throw rules around they think are absolute. The system is meant to be mailable: it's been designed that way over the past century on purpose - <b>it's not a bad thing or some Illuminati conspiracy, people conspiring to take over the government, or other trite bullshit.</b> Fiat currency has allowances for these kind of moves, both up and down. The govt. and Fed are just putting things in place so the bad paper has a place to go and die, and that usually is done using T-bills as proxies for what the media calls "toxic assets".

The sky is not falling. Instead of worrying about the oligarchs why not go into your garage and make an audio oscillator or something innovative, both technically and financially.(new business)
 
What do you mean by "everybody" is holding the bag. Mom and pop on main street were not invested in these crooked derivative and therefore don't give 2 shits and giggles about the crooks on wall street.

This is a capitalist system. You make a bad investment, too bad too sad. If you lose too much money by being stupid, you can always hang yourself. One less retard in the gene pool.

I'm referring to the idiots who will be "investing" in people like T Boone Pickens new energy fund after he lost 78% of the previous one.



Quote from Scataphagos:

The BIG problem is in derivatives, many times bigger than deposits .... everybody's holding the bag on those and all expecting/hoping to get paid from tax payer funds.
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The real question is the legality of some derivatives....

Pertaining to no real cash underlying securities or assets....

Which could pose some rather curious solutions....
 
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