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<blockquote data-quote="Leonard D Neubache" data-source="post: 1150084" data-attributes="member: 11069">At some point you realise that the creditors are the creditees. It's not like your world or mine where if you default on a loan then the bank kicks into gear and puts a lien on your car or your house.If one major bank goes then all go, but it's not going to happen precisely for that reason.All these banks are part of a greater power structure. On a smaller scale Guido says &quot;yeah, I've got 100k, I loaned it to Ralphie&quot; and Ralphie says &quot;yeah, I've got 100k, I loaned it to Jimmy&quot;, and Jimmy says &quot;yeah, I've got 100k, I loaned it to Guido&quot;. All of them leverage that same 100k to buy out 300k worth of businesses and take over the neighbourhood. Why would they default by calling each other out on the loans? The bogeyman of default will be dangled in front of feckless taxpayers and anti-globalists alike, to milk the former and convince the latter to build bunkers in the forest rather than stand up and fight. Between the bankers and the bosses of every national Federal reserve (but I repeat myself) they are in no danger of defaulting. If things ever got dicey they would just yank another 100billion of national debt and threaten the normies with the prospect of waking up to a Mad Max scenario on monday if they didn't pay up.And the gutless normies will grumble, but they will pay. They will be wiping their asses with worthless hundred dollar bills before they choose a truly hard winter or two.</blockquote>

[QUOTE="Leonard D Neubache, post: 1150084, member: 11069"] At some point you realise that the creditors are the creditees. It's not like your world or mine where if you default on a loan then the bank kicks into gear and puts a lien on your car or your house. If one major bank goes then all go, but it's not going to happen precisely for that reason. All these banks are part of a greater power structure. On a smaller scale Guido says "yeah, I've got 100k, I loaned it to Ralphie" and Ralphie says "yeah, I've got 100k, I loaned it to Jimmy", and Jimmy says "yeah, I've got 100k, I loaned it to Guido". All of them leverage that same 100k to buy out 300k worth of businesses and take over the neighbourhood. Why would they default by calling each other out on the loans? The bogeyman of default will be dangled in front of feckless taxpayers and anti-globalists alike, to milk the former and convince the latter to build bunkers in the forest rather than stand up and fight. Between the bankers and the bosses of every national Federal reserve (but I repeat myself) they are in no danger of defaulting. If things ever got dicey they would just yank another 100billion of national debt and threaten the normies with the prospect of waking up to a Mad Max scenario on monday if they didn't pay up. And the gutless normies will grumble, but they will pay. They will be wiping their asses with worthless hundred dollar bills before they choose a truly hard winter or two. [/QUOTE]

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