Tilted Forum Project Discussion Community - View Single Post - meanwhile, back in reality (bank crisis round 2)

Baraka_Guru · 09-17-2008, 09:28 AM

Interesting indeed, roachboy.

I find it disquieting that people aren't more focused on the bigger dangers of this issue. Most people look at the bailout figures and get angry at big business. How soon they forget that such money is absorbed by the banks and the bill for it is being held by someone else, much of it quite possibly in Asia. The more foreign bills being swept up, the more control they have over American economic policy. The threat of dumping (i.e. cashing in) T-bills is enough to get someone's attention, especially when you figure that there's $1 trillion dollars' worth between Japan and China alone.

But here we're talking about foreign banking absorbing U.S. banking. Interesting. I wonder how this will play out globally as things continue to shake up.

09-17-2008, 09:28 AM	#71 (permalink)
Baraka_Guru warrior bodhisattva Super Moderator Location: East-central Canada	Interesting indeed, roachboy. I find it disquieting that people aren't more focused on the bigger dangers of this issue. Most people look at the bailout figures and get angry at big business. How soon they forget that such money is absorbed by the banks and the bill for it is being held by someone else, much of it quite possibly in Asia. The more foreign bills being swept up, the more control they have over American economic policy. The threat of dumping (i.e. cashing in) T-bills is enough to get someone's attention, especially when you figure that there's $1 trillion dollars' worth between Japan and China alone. But here we're talking about foreign banking absorbing U.S. banking. Interesting. I wonder how this will play out globally as things continue to shake up. __________________ Knowing that death is certain and that the time of death is uncertain, what's the most important thing? —Bhikkhuni Pema Chödrön Humankind cannot bear very much reality. —From "Burnt Norton," Four Quartets (1936), T. S. Eliot Last edited by Baraka_Guru; 09-17-2008 at 09:31 AM..