RBS's downfall of 2008 RBS's downfall of 2008
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    Default RBS's downfall of 2008

    Reading this is fascinating... gives you some insight as to the thinking behind the curtains. Many assumed previously RBS were caught out in a bad situation, but as more and more of these files become available it is clear they were instrument in causing the crisis. Why on earth would the UK bail out such a rotten apple? I've utterly no idea why these people are not in jail for this level of fraud.

    Purpose of this thread is imo it's happening again. Expect it's not the housing market, but rather the stock market. S&P 500 is pushing higher and higher... why are people pouring more money into it at an all time high? Turns it people are not pouring money into it, it's the national banks. National banks are investing money they created out of thin air. Think about that for a minute and tell me with a straight face there's no mega correction coming. They are transforming thin air into assets and no one is protesting it.

    https://www.justice.gov/opa/press-re...87151/download


    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

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    If only you knew what shorting is, you would be filthy rich!

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    Quote Originally Posted by TheGreenBastard View Post
    you would be filthy rich!
    What makes you think I'm not already?
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

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    I was working at RBS in 2008 - in Counterparty Credit Risk!

    There are many facets to this story and many different threads that contributed to this result so it depends how you tell it really.

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    They should be judged on the result, rather than the story.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

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    Quote Originally Posted by TwoWolves View Post
    I was working at RBS in 2008 - in Counterparty Credit Risk!

    There are many facets to this story and many different threads that contributed to this result so it depends how you tell it really.
    Well why I am not surprised that RBS nearly folded - your post about how Cohen admitting to federal crimes under oath are not crimes supposedly -

    Quote Originally Posted by TwoWolves View Post
    Which is still not a crime, no matter how hard you clap your hands and shout "I believe in fairies". I think that might be another fine - if they can prove that Trump knew about the specific blackmail attempt and Cohen did not just act on behalf of his client.

    Find something that can stick, please.

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    Quote Originally Posted by AtW View Post
    Well why I am not surprised that RBS nearly folded - your post about how Cohen admitting to federal crimes under oath are not crimes supposedly -
    Patience lad, everything will become clear in time.

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    Quote Originally Posted by scooterscot View Post
    ...

    Purpose of this thread is imo it's happening again. Expect it's not the housing market, but rather the stock market. S&P 500 is pushing higher and higher... why are people pouring more money into it at an all time high? Turns it people are not pouring money into it, it's the national banks. National banks are investing money they created out of thin air. Think about that for a minute and tell me with a straight face there's no mega correction coming. They are transforming thin air into assets and no one is protesting it.

    ...
    It's not thin air it's devaluation of FIAT currencies. Billions of 'quantitative easing' in the UK and more in the EU and USA. Race to the bottom over decades. That's why all tangible assets appear peaky in value.

    Is it ironic to be moaning about them creating money out of thin air when also investing in cryptos created out of thin air? Not sure, I'll ask Alanis Morissette.
    Maybe tomorrow, I'll want to settle down. Until tomorrow, I'll just keep moving on.

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    National banks are not meant to buy stuff, such is my understanding. They create money for others to use. That's where QE ends. However national banks, of England (BoE), Switzerland etc are actually using money created out of thin air and buying up assets. I'm actually not bothered by it. However I do find one thing very interesting, which is not being talked about. The stock market as it is right now is being pushed up by the hands of the few not the many. A few private national banks. They are effectively controlling S&P 500. Am not making this up, the information is freely available. A snap shot of the Swiss national bank below.

    Crypto-money falls on its own sword or creates value where others see it, demand it. That simple. It is quite another thing to create additional currency already used to purchase assets when ordinary people have to work for it to buy the same assets. I'd be burning down the house if someone was doing that to me.


    Last edited by scooterscot; 27th August 2018 at 09:50.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

  10. #10

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    not only RBS lots of other banks are investing heavily in american stocks e.g. UBS and japanese banks
    Dow 30000 here we come

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