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Banks: The "Currency Swap" Games

Discussion in 'General Real Estate and Real Estate Finance' started by Julio E. Sune Jr. (FL), Apr 18, 2009.

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  1. Julio E. Sune Jr. (FL)

    Julio E. Sune Jr. (FL) Senior Member

    Jan 16, 2002
    Professional Status:
    Certified Residential Appraiser

    Lesson learned from the financial crisis

    [The truth of this world is that those, who, through stupidity, greed, and fraud, dig themselves into a hole, will keep digging deeper until they hit bedrock and run out of options. This is what happened with Bernard Madoff: he must have known for years his ponzi scheme was doomed to collapse, but he kept it going until he was down to his last 140 million. The United States, like Bernard Madoff, has for years been digging itself into a hole, and the fed's use of currency swaps to boost the dollar is the final part of this process. Unfortunately, the US, like Madoff, is about to hit bedrock.]
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