tag:blogger.com,1999:blog-27784316.post8500374163347198377..comments2023-09-06T03:23:43.027-07:00Comments on I AM A FUTURES TRADER: Chris Johnstonhttp://www.blogger.com/profile/01542415946929766288noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-27784316.post-57446784067085296302013-03-25T17:45:31.809-07:002013-03-25T17:45:31.809-07:00That is true, it is easy to be clinical when it is...That is true, it is easy to be clinical when it is not happening to you. I do sympathise with what happened to you and others, and fear it may only get worse. <br /><br />Banks are not safe, nor are financial instruments as safe as we think they are. That is one reason physical (not paper) gold remains a valuable asset with no counter party risk.Kurthttps://www.blogger.com/profile/03827718885466021882noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-22417158760617469042013-03-25T16:50:15.791-07:002013-03-25T16:50:15.791-07:00This is all BS you people who have not been stolen...This is all BS you people who have not been stolen from have no idea how it feels and the day it happens to you will be when you wake up and I hate to tell you how painful that will be. It was for me and I am forever changed and so will you be. I will feel sorry for you unlike the lack of sympathy you are showing because I know from personal experience how this dramatically changes your life. It is easy to say it is ok for someone else to have their money stolen and that is what this is outright theft. PERIODChris Johnstonhttps://www.blogger.com/profile/01542415946929766288noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-8679891499360715082013-03-25T08:36:14.996-07:002013-03-25T08:36:14.996-07:00My only take on this was that there is someone pay...My only take on this was that there is someone paying when the money is not there. Since the insurance was covered, but the haircut is for the uninsured, that seems fair. Keep in mind that taxpayers are then paying for the bailout. The equity holders are being wiped. It does not seem improper (unlike MFG and PFG - which should have people in jail!)<br /><br />interesting discussion here:<br />http://detlevschlichter.com/2013/03/cyprus-and-the-reality-of-banking-deposit-haircuts-are-both-inevitable-and-the-right-thing-to-do/Kurthttps://www.blogger.com/profile/03827718885466021882noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-12489814636291891012013-03-25T06:09:56.172-07:002013-03-25T06:09:56.172-07:00John we agree for the most part here and we usuall...John we agree for the most part here and we usually do. The only thing I would take issue with is that it appears there is going to be a haircut taken somewhere here that will be in violation of what has ever happened with banks. I think that precedent being set is very dangerous. My point was that what you stated, they are ultimately going to come after all of us, and this is going to be where we will look back and say was the beginning. This is not just some isolated incident that can't occur somewhere else in my opinion.Chris Johnstonhttps://www.blogger.com/profile/01542415946929766288noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-66420295369995780072013-03-25T05:26:54.171-07:002013-03-25T05:26:54.171-07:00No problem with the bond service. You never said i...No problem with the bond service. You never said it was perfect, you always stressed there would be a bad month or so sometimes. People expect too much, maybe.<br /><br />As for Cyprus, our discussion has been short-circuited by events--they're not doing the depositor tax, the Russian and Balkan 'oligarchs' (cough) are looking for somewhere else to go where they won't have potential problems like this. As for the old saw about poor people never giving anyone a job, it reminds me of an aunt of mine who I loved dearly. Her husband died in his early 30s of lung cancer, although he never smoked. To her dying day, my aunt didn't believe smoking causes lung cancer because he died without smoking. My point is, poor people can't give other people jobs but that doesn't mean that rich people always do. Ten years of tax breaks for the wealthy showed incredibly anemic job creation while the top few percent accumulated a larger and larger share of the country's wealth. And when taxes on the upper brackets were much higher, we had periods of great prosperity and job creation.<br /><br />It's clear that rich people--or let's say the companies they may own--hire workers, but only when necessary. Once in a while they might give somebody a break when they don't really need another employee but see something interesting, usually someone they know or through people they know.<br /><br />I think practically every bad precedent that can be set has already been set in the last 100 or so years, and I mean bad for any particular group and also for everyone as a whole. And if things get so terrible that they start coming after us in all the sneaky ways at their disposal, it won't matter if you're rich or poor. There won't be anyplace to hide in very short order. In fact, just trying to hide may be a punishable offense at some point.<br /><br />For me, everything that's going on or may go on isn't really worth worrying about too much. The only alternative to anything extreme will be an extreme response and that always comes down to an armed uprising. Not sure if the cure is worse than the disease there, but hopefully I won't be alive to experience it and won't have to care.JMhttps://www.blogger.com/profile/09876016557456927299noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-11953472242910734142013-03-23T12:26:54.168-07:002013-03-23T12:26:54.168-07:00Last few weeks have no not been easy for anyone Ch...Last few weeks have no not been easy for anyone Chris, I talk to a lot of people, and people who are using other services as well. Everyone's taken large losses, so you dont need to feel so bad about it. We'll bounce back :-) Vikashttps://www.blogger.com/profile/08975404537114085288noreply@blogger.com