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$80trillion 'goes missing' - global wipeout looms

#1
Kornee Offline
https://www.msn.com/en-au/money/other/it...3e59702238
Be comforted in the knowledge that as always, there will be winners. Heaping unto themselves ever more the wealth of the whole world.
Buying up the bankrupted and foreclosed, at cents to the dollar. A long tradition. Crash after crash.
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#2
stryder Offline
(Dec 8, 2022 11:47 AM)Kornee Wrote: https://www.msn.com/en-au/money/other/it...3e59702238
Be comforted in the knowledge that as always, there will be winners. Heaping unto themselves ever more the wealth of the whole world.
Buying up the bankrupted and foreclosed, at cents to the dollar. A long tradition. Crash after crash.

I doubt money went missing, it's more likely it was never there to begin with. Look at "Bitcoins", traded for a few dollars some years ago, at it's climax was up to $64k per unit now dropped down to $17k. People put value into something (based upon hype) into something that technically has none. I always saw them a bit like "Magic Beans".

I mean you're going to have people that bought a bitcoin at 15k (prior to it rising to 60k+) claiming they've lost 45k, even though they never actually had it.
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#3
Kornee Offline
(Dec 10, 2022 07:07 AM)stryder Wrote: I doubt money went missing, it's more likely it was never there to begin with.  Look at "Bitcoins", traded for a few dollars some years ago, at it's climax was up to $64k per unit now dropped down to $17k.  People put value into something (based upon hype) into something that technically has none.  I always saw them a bit like "Magic Beans".

I mean you're going to have people that bought a bitcoin at 15k (prior to it rising to 60k+) claiming they've lost 45k, even though they never actually had it.
It'd be a big relief if the comparison to inflated bitcoin valuations was apt. That's not the tone of that article. It's the BIS making the impending doom prognostication. I doubt it's a case of ' gee it just sort of slipped our notice'.

Makes Donald Rumsfeld's infamous missing $2.3 trillion announcement - the day before a hijacked jetliner crashed into and wiped out the accounting team looking into that very issue, imo somewhat tame by comparison.
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#4
C C Offline
Closer to the horse's mouth, if Harvey Jones is unfamiliar or sounds like an obscure NFL player of the past. 

BIS analysis shines light on persistent risks in foreign exchange trades, hidden dollar debt: BIS Quarterly Review
https://www.bis.org/press/p221205.htm

The BIS -- often called the central bank for central banks -- worries about many things so that your local central bank doesn’t have to.
https://www.investing.com/analysis/bis-w...-200633179
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#5
Kornee Offline
https://www.libertynation.com/the-forex-...time-bomb/
Just reinforcing the OP article.
https://www.finews.com/news/english-news...-time-bomb
The last para there quietly and briefly tells us the rigged FX system is a scam (enriching imo mainly certain US interests), much like the petrodollar scam.

Most articles will say the FX market itself is not a scam. Yet its nature facilitates easy money creaming on a grand scale:
https://www.usatoday.com/story/money/bus.../18923015/
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