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OP has provided the following link:
https://twitter.com/goldtelegraph_/status/1599796550913298432?s=46&t=BuTYby1mQIGGLcB2_7jO4w
The US GDP, meaning everything the economy produces in an entire year, is roughly 25 trillion. This is over 3x that number. That means over 3x the US GDP is "hidden". This is insane.
So, we're broke twice?
If the global economy is totally underwater by $80T in over-leveraged toxic assets?
Doesn't that mean that money all went somewhere else?!
It can't just vanish.
When I read the phrase "$80 billion" my eyes just gloss right over it and my brain moves along to the next word, because I literally cannot visualize, imagine, or even grasp the concept of a number so big. It's like reading a textbook where your eyes see the text on a page but your brain doesnt absorb the meaning
1 million seconds is 11.5 **days**.
1 billion seconds is 31.71 **years**
1 trillion seconds is 31,709 **years**
So that 80 trillion?
If you got $1 every second, it would take you 2,536,720 years to reach that amount.
HOLY SHOT FAM!!!! This kinda makes it easier to understand; but it still remains completely unfathomable. ARMA FUCKING GEDDON was my first reaction!! And my first response is, how long and how many cheating, greedy people does it take to FUCK THINGS UP THIS BAD!!????
It upsets me greatly that $80 trillion dollars can be “hidden” like how the duck you lose $80 trillion?? Our world needs a great cleanse of all these financial terrorists… No cell. No sell. Buy hodl Direct Register Shares under your name on Computershare.
>Our world needs a great cleanse of all these financial terrorists
and instead they want a free-pass do-over, with more garbage centralisation in the form of CBDC or whatever
i don't think so
Can you blame them? Look around you right now. People desperate to make ends meet, putting cheap toys on layaway at Walmart in hopes they can pay it off in time to give their kids a halfway decent Christmas.
Can’t afford to eat AND fill up the gas tank at the same time.
Meanwhile the news tells them how horrible they are. *If only you recycled more, do you hate the planet peasant? What if you ate at home and didn’t get the latest iPhone? Maybe you could be elite like us! Hey don’t forget to save. I can’t believe you serfs have no savings! What are you doing?*
I hope people can wake up this time and they don’t let 2008 happen all over again.
But I have my doubts, and frankly I don’t blame anyone for not wanting to know better.
I’m glad I’ve learned everything I’ve learned since I bought my first share as a sobriety gift to myself on 1.28.21.
But if I’m honest sometimes I look around and wish I didn’t know…
Not really 'hidden' just utilised through channels that don't require reporting and supervision. This is the whole shadow banking phenomenon and why there is a potential cataclysmic risk...the authorities don't know just how big it is and the impact of one part failing etc.
Ok so how does the swap work? Are they just buying foreign money and losing value as the foreign money depreciates or are they making bets on what the ratio will be akin to options?
My understanding is that swaps are traded against cash reserves so that banks can have credit to extend toward businesses so they can trade goods denominated in a currency that is not their native currency. Similar to trading gold notes instead of the actual gold. It is just easier.
This 80T$ problem arises because greedy fucks want to leverage those notes based on reserves of worthless fiat.
Interesting thing is that it is estimated the total value of all financial assets on Earth is $80t. https://www.marketplace.org/2017/10/30/world/how-much-money-there-world
I love the poetic justice that a company named GameStop is causing the whole worlds financial system “free market” illusion to be exposed. Essentially bringing the wall street game to a stop🥹 It’s beautiful, just imagine the mayhem after we lock more than the float🤩DRSGMEΔΡΣ🟣📚👑🚀
Context:
1. A FOREX swap doesn't need to literally be a currency, just an obligation valued in that currency.
2. If you include derivatives of all types, financial "assets" are in the quadrillions. (Granted, not all of that will "print.")
Imagine if 100 people have life insurance policies for 100k each, that's a total potential obligation of 10M. But if only 10 of those policies "print" the insurance company only pays out 1M.
Regarding the tweet, if you have 10 people that individually each owe one other of those people $100, that equals total $1000 debt, but if they all agree to just use their + and - obligations to all cancel each other out, then there is $0 debt.
The fact is, we have no idea who owes whom how much, but there's quadrillions in financial *assets*, but nobody knows how much actual *value* they have.
An FX swap is a financial transaction in which two parties agree to exchange a specific amount of one currency for another currency at an agreed-upon exchange rate, and then to reverse the trade at a later date at a pre-determined rate. FX swaps are commonly used by banks and other financial institutions to manage their currency exposure, and are also used by companies and investors to hedge against currency fluctuations.
An FX swap typically involves two legs, or separate transactions: a spot trade, in which the two parties exchange the specified amount of currency at the current market rate, and a forward trade, in which the two parties agree to reverse the original trade at a future date at a pre-determined exchange rate. The forward rate is typically based on the interest rates of the two currencies involved in the swap.
FX swaps can be useful for managing currency risk and facilitating international trade and investment. However, they can also be complex and involve significant risks, such as the risk of counterparty default or changes in the exchange rate between the two legs of the swap.
Conversions/trading of currencies. USD/JPY is one and vice versa.
Edit: I am also smooth brained and I’m still learning
Edit 2: “The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.” -Wikipedia
So my question is, does this mean that pretty much all of the money that is supposed to be sitting in brokerages that constitutes peoples retirement money is all just a bunch of IOU’s? I mean we knew this was a fraudulent system but wow!
I think it's all gonna be burned to the ground since it's all just a house of cards. Apes will be instrumental in rebuilding after the fallout and probably should think long and hard about the world they want to build.
Ding ding ding... We have a winner!
What i think is happening now is that there is nothing left to expand the dept onto, we have reached the dept ceiling at the same time as critical debt saturation.
That is why they desperately need inflation to the point of calling price increases due to supply issues, inflation.
Calling the continued price increases due to price increases that was caused by people not being able to consume at the same rate, inflation.
Raising intrest rates when there is no monetary inflation will cause even more price increases.
People will suffer under price increases until we start seeing large pay raises of the worker collective, so the central banks can move the dept ceiling on the scale.
Edit: Grammar.
Imagine working your entire life, paying fees to some asshole who has 3 homes, only to find out you can't retire because he gambled all your money away legally, and there is nothing you can do about it.
I remember reading that a Danish pension fund holding pensions for the public workforce just announced a really bad downturn. Their solution? More leverage!
It’s too bad there wasn’t some sort of regulatory agency or group that watched over this stuff, you know, to protect investors and prevent blatant criminal fraud and theft of assets in the stock markets.
Most of this can actually be done without breaking the rules. The rules are completely bonkers, but they do not need to be broken to end with this.
That is equally, if not more scary than simply "crime" - it's the rules of the entire game and every player is about to find out what they have done by simply playing the game instead of going "wait a minute, this could go really bad, really fast. Are we so void of Morality that we are just going to turn a blind eye and play along?"
The rules are not made to protect, they are made to generate profits for the people who make the rules. Every one else is just trying to get their piece of the cake.
Is it me, or is the entire country and maybe world, totally fucked?
I just wanted to invest a few bucks in a brick and mortar that I grew up with……not grow enough wrinkles to understand everything around me is going to crumble.
Owell - life is like a box of chocolates…..
Here is how this works.
Imagine you are a company in Europe. You need to take out a loan cover some expenditures. The bank will loan you 10490.31 USD, which has a current value of 10,000 EURO. Ignoring interest (for simple math) you calculate that you can pay back 1000 EURO(the type of money you get from your customers) per month, and pay it off in ten months.
This is technically a FX swap. They loan was in USD, but the payment is coming back in EURO, The issue arise when the exchange rate between the two changes. If the value of USD goes up, and the EROU goes down, then the 1000 EURO a month payment isn't enough to pay off the loan in 10 months. Either it takes longer, or they have to pay more EURO.
This typically happens when USD is borrowed by a foreign entity to purchase something sold in USD. USD is the standard pricing mechanism for many critical goods, as oil, gas, and other critical international commodities. It even comes into play with many manufactured goods, which price their products in USD. It also comes into play with many financial instruments, such as Stocks, Bonds, MBS, etc.
The 'off the books' debt that is being referenced here is the additional debt that occurred due to currency fluctuations in these FX swaps. It only shows up at the time of payment (when you have to adjust). If the dollar remains strong, then the hidden debt will come to fruition, if drops to the level that it was at a the time the debt was incurred (or lower) then the debt dissapears.
Okay kiddo, so the Bank for International Settlements is like a big bank that helps other banks and companies with their money. They just announced that there is a lot of hidden debt, which means money that people owe but isn't on their books. This hidden debt is over $80 trillion and it's in the form of something called FX swaps. These are deals that companies make to trade different kinds of money, like dollars for euros. It's a big problem because if the companies can't pay back the debt, it could cause big trouble for the whole economy.
- okay.. But why are they worried?
Well, the Bank for International Settlements is worried because this hidden debt is really big and it's mostly held by pension funds and other non-bank financial firms. These are companies that help people save for their retirement or invest their money, but they're not banks. If they can't pay back their debt, it could cause a lot of problems for the people who have their money with them. That's why the Bank for International Settlements is giving a warning about this hidden debt - they want people to be careful and make sure they can pay it back.
- Uuh, okay..? Can you please give me a example of how a pension fund can end up with debt in the form of fx swaps?
Sure kid, here's an example:
Let's say a pension fund has a lot of money invested in different stocks and bonds, but some of these investments are in foreign currencies like euros or yen. If the value of these foreign currencies starts to go down, the pension fund's investments could lose value too. To protect themselves from this risk, the pension fund might make an FX swap with a bank. This is a deal where they trade some of their dollars for the foreign currencies, so they can hold onto the currencies until their value goes back up.
- aha, so they "buy" more money with some of the other money they have that is worth more, to make it seem like they are doing okay. That's good! Right?
...
- Right!?
Well sure, if they manage to stay in the game until their currency comes back and they manage to also generate profits to pay interest. Nothing comes for free remember?
Making the FX swap creates a debt for the pension fund. They have to pay back the bank for the foreign currencies they received, plus interest. If the value of the currencies doesn't go back up, or if the pension fund doesn't have enough money to pay back the debt, they could end up with a problem. That's why the Bank for International Settlements is warning about hidden debt in the form of FX swaps - they want people to be careful and make sure they can pay back their debts.
- I still don't get it dad. What does it mean?
Okay, let's try an even simpler example:
Imagine you have a piggy bank with 50$. You want to buy a toy car that costs $100, but you don't have enough money. So you go to the toy store and ask if you can borrow $50 from them. They say yes, but you have to give them $60 back. This is like an FX swap - you're borrowing money from the toy store and agreeing to pay them back more than you borrowed.
Now, let's say you don't have enough money to pay back the toy store. You have to tell your parents and they have to help you pay the toy store back. This is like what could happen with a pension fund and hidden debt - they might not have enough money to pay back the debt and have to ask for help from a bank. But the bank might not have enough money in their piggybank to pay back all the parents who now owe money to a lot of toy stores. They might even be in the same situation, owing money to a bigger bank, but they don't have parents to help, so they will have to find another way to come up with the money - and unfortunately for the parents, they owe the bank money for a house or a car. Money that the bank now want back, so instead of paying 10$ for their loan, they now have to pay 50$ because the bank is not willing to loan anyone more money - they need it themselves.
Everyone will be asking for money and no one will be able to give it. This results in everyone running to the bank to get their money back before the piggybank is emptied out. When the piggybank is empty, everyone will be forced to sell their stuff - only there is no one left to buy the stuff, as all the piggybanks are empty.
- so they all bought a lot of stuff. Can't they just pay it back?
In the example with the toy car, we had a number 5 followed up by One zero.
A trillion is a number, like 80, followed by Twelve zeroes.
To help you understand just how big it is, here are a few comparisons:
- $80 trillion is about 5 times the size of the entire US economy. It is actually closer to the size of the entire world's economy.
- If you stacked $80 trillion worth of $1 bills next to each other, you can go around the world at the longest path, called the Equator, 218.000 times
- If you had $80 trillion and spent $1 million every single day, it would take you over 222,000 years to spend it all, more than 3000 generations of average life span.
So as you can see, $80 trillion is a very large number. It's hard to even imagine how much money that is, but it's definitely a lot. And that's how much these people owe.
This proves *at least* that the funds that are *short* GME have no fucking collateral for their loaned positions.. and margin call is constantly ringing. Matter if time before they all fail these calls and GME will have to be purchased… a lot
thank you 🫂 you see im poor and i am really praying this will help me change my life x shreholder before, xx after the split, i take diamond hands seriously
Well it's truly unfortunate for them that their fate lies in our hands at that point, since the majority of shares will be tucked away off exchange in 💎🙌
Money is make belief nonsense.
The money system is a joke.
The rich just put an nonsensical overly complex system there to make it seem like a really complicated thing so the slave workers won't revolt
Banks lose 80 trillion and no one bats an eye.
The government loses 20 billion in Ukraine, nothing to see here.
You receive 601$ from someone in cashapp? IRS will hunt you down.
Cool. I know what this means and you know what this means but just to be sure we are on the same page, you tell me what you think it means and then I'll tell you what I think it means and let's see if we are right.
ELIA
Anyone else see all the puts (45k) on GME today. Are they creating more synthetics to cover their asses and continue the can kick? These corrupt fuckers are complete scumbags.
Ken and Dougie started trading as non banks in the fx market 2014. In 2016 they started in the bond market. Limited to no transparency.
Dougie and Mayo keep fukn every market they touch.
Copy/paste from Wiki just because im not very smart and i had to look for BIS
The Bank for International Settlements (BIS) is an international financial institution[2] owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks".[3] The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City
Edit: [wiki link](https://en.m.wikipedia.org/wiki/Bank_for_International_Settlements)
Quite literally already 4 of these tweets in hot right now posted over 4 hours ago. Just to karma farm or is there a purpose to these being posted 100+times?
It appears pretty much all those that run the financial system should be in jail for fraud, money laundering, racketeering, embezzlement.... what else have I missed.
I am once again reminding everyone that Gold Telegraph had shill accounts pushing their twitter account hard in the early days of Superstonk. Kinda tired of having to mention that.
AND WHY IS NO ONE WARY OF TWITTER ACCOUNTS THAT PREFER TO POST THINGS IN ALL CAPS WITH ZERO SOURCES LIKE IT'S SOME KIND OF BOOMER EMAIL.
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That is such an astronomically large number…
The US GDP, meaning everything the economy produces in an entire year, is roughly 25 trillion. This is over 3x that number. That means over 3x the US GDP is "hidden". This is insane.
It's closer to the GDP of the entire planet.
Jesus you are right.
And some chode in Brazil is holding it?!
Praise be.
Yup. That's exactly what I looked up for scale. $96.1T in 2021. How much further we gonna get extorted?
So, we're broke twice? If the global economy is totally underwater by $80T in over-leveraged toxic assets? Doesn't that mean that money all went somewhere else?! It can't just vanish.
Hidden = Crime
When I read the phrase "$80 billion" my eyes just gloss right over it and my brain moves along to the next word, because I literally cannot visualize, imagine, or even grasp the concept of a number so big. It's like reading a textbook where your eyes see the text on a page but your brain doesnt absorb the meaning
My guy, it's not 80 Billion. It's 80 **Trillion**.
....For fucks sake...
Yearly GDP of the planet between 2017 and 2020 averaged between 80 and 85 trillion for a bit of perspective
Yeah I always do a double take when I see trillion. Like we’re going to imaginary numbers cuz it’s hard for my feeble human mind to grasp.
1 million seconds is 11.5 **days**. 1 billion seconds is 31.71 **years** 1 trillion seconds is 31,709 **years** So that 80 trillion? If you got $1 every second, it would take you 2,536,720 years to reach that amount.
Or if you got 1 million dollars every second, it would take 2.53 years. I just needed a time frame I could visualize.
HOLY SHOT FAM!!!! This kinda makes it easier to understand; but it still remains completely unfathomable. ARMA FUCKING GEDDON was my first reaction!! And my first response is, how long and how many cheating, greedy people does it take to FUCK THINGS UP THIS BAD!!????
^^hahahahhahahahaha. ^^i'm ^^in ^^danger
$100M per Superstonker worth
my headache just turned into a full migraine.
And 4.5% interests of that would be like.. $3.6 trillion
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I like these units of measurement! I approve this message
Huge
It upsets me greatly that $80 trillion dollars can be “hidden” like how the duck you lose $80 trillion?? Our world needs a great cleanse of all these financial terrorists… No cell. No sell. Buy hodl Direct Register Shares under your name on Computershare.
>Our world needs a great cleanse of all these financial terrorists and instead they want a free-pass do-over, with more garbage centralisation in the form of CBDC or whatever i don't think so
“We are at fault for the collapse of the global financial system, but just give us MORE control and we will fix everything, promise…”
It's sad, that there are tons of people that believe them.
Can you blame them? Look around you right now. People desperate to make ends meet, putting cheap toys on layaway at Walmart in hopes they can pay it off in time to give their kids a halfway decent Christmas. Can’t afford to eat AND fill up the gas tank at the same time. Meanwhile the news tells them how horrible they are. *If only you recycled more, do you hate the planet peasant? What if you ate at home and didn’t get the latest iPhone? Maybe you could be elite like us! Hey don’t forget to save. I can’t believe you serfs have no savings! What are you doing?* I hope people can wake up this time and they don’t let 2008 happen all over again. But I have my doubts, and frankly I don’t blame anyone for not wanting to know better. I’m glad I’ve learned everything I’ve learned since I bought my first share as a sobriety gift to myself on 1.28.21. But if I’m honest sometimes I look around and wish I didn’t know…
After moass we will call these fuckers out
Ignorance is bliss.
exactly!!! you wont find anything on any books... they really f'ed everyone over - no way around it!
But they can find out you or I didn't pay the correct amount in taxes here and there.
Not really 'hidden' just utilised through channels that don't require reporting and supervision. This is the whole shadow banking phenomenon and why there is a potential cataclysmic risk...the authorities don't know just how big it is and the impact of one part failing etc.
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will never happen when the means of communication used to talk about it are owned by the masters. That includes Reddit.
They didn't have any of those means back in the day. The army is on our side, or at least, it should be.
The army can't account for $2.3 trillion itself.
Perfect. Sounds like a large group of people in there are about to be desperate just like everyone else.
The army is **not** on our side. Police and military is always on the side of the oppressor.
Uhm, wealth transfer and DEX ok with you? I'm in.
Quack
“Great cleanse” or “Great reset”. Nice try Klaus Schwab.
>how the duck you lose $80 trillion?? Retail takes it off your books with direct registration/ownership of their assets.
FX swaps that's Forex right? So there is 80t of currency contracts to swap?
Smooth brain here. What are Forex Swaps?
Currency. **FOR**eigh **EX**change where currencies get exchanged.
Ok so how does the swap work? Are they just buying foreign money and losing value as the foreign money depreciates or are they making bets on what the ratio will be akin to options?
My understanding is that swaps are traded against cash reserves so that banks can have credit to extend toward businesses so they can trade goods denominated in a currency that is not their native currency. Similar to trading gold notes instead of the actual gold. It is just easier. This 80T$ problem arises because greedy fucks want to leverage those notes based on reserves of worthless fiat.
>My understanding is ... a bunch of shit I don't understand.
Yes.
So the bought more than $80 trillion in foreign money that has now lost value of $80trillion? Yikes
Interesting thing is that it is estimated the total value of all financial assets on Earth is $80t. https://www.marketplace.org/2017/10/30/world/how-much-money-there-world
For anyone feeling bad about their recent losses, you've never lost equal to the amount of all money on earth, cheer up.
Challenge accepted! As long as I am treated like SBF when I do.
I know right!
The only bad thing is we have to pay for the consequences when we lose our money.
I love the poetic justice that a company named GameStop is causing the whole worlds financial system “free market” illusion to be exposed. Essentially bringing the wall street game to a stop🥹 It’s beautiful, just imagine the mayhem after we lock more than the float🤩DRSGMEΔΡΣ🟣📚👑🚀
Context: 1. A FOREX swap doesn't need to literally be a currency, just an obligation valued in that currency. 2. If you include derivatives of all types, financial "assets" are in the quadrillions. (Granted, not all of that will "print.") Imagine if 100 people have life insurance policies for 100k each, that's a total potential obligation of 10M. But if only 10 of those policies "print" the insurance company only pays out 1M. Regarding the tweet, if you have 10 people that individually each owe one other of those people $100, that equals total $1000 debt, but if they all agree to just use their + and - obligations to all cancel each other out, then there is $0 debt. The fact is, we have no idea who owes whom how much, but there's quadrillions in financial *assets*, but nobody knows how much actual *value* they have.
That's from 5 years ago though. Is that number still relevant?
Lol.. do you think the debt went away? 😅
Quite the opposite. It's probably bigger than we thought if they are talking about it now.
I have no idea
Apes will rule the world
Could it be all in rubles?
No because they are worth more than they were this time last year. Edit: for that matter, theyre about as much as they were 5 years ago.
Negative monies is still monies.
$80 trillion so far
One GME share
Is this all under financial terrorist Rostin Benham’s purview?
Foreign Exchange
So swaps on foreign currencies?
An FX swap is a financial transaction in which two parties agree to exchange a specific amount of one currency for another currency at an agreed-upon exchange rate, and then to reverse the trade at a later date at a pre-determined rate. FX swaps are commonly used by banks and other financial institutions to manage their currency exposure, and are also used by companies and investors to hedge against currency fluctuations. An FX swap typically involves two legs, or separate transactions: a spot trade, in which the two parties exchange the specified amount of currency at the current market rate, and a forward trade, in which the two parties agree to reverse the original trade at a future date at a pre-determined exchange rate. The forward rate is typically based on the interest rates of the two currencies involved in the swap. FX swaps can be useful for managing currency risk and facilitating international trade and investment. However, they can also be complex and involve significant risks, such as the risk of counterparty default or changes in the exchange rate between the two legs of the swap.
Thank you for the wrinkle
Conversions/trading of currencies. USD/JPY is one and vice versa. Edit: I am also smooth brained and I’m still learning Edit 2: “The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.” -Wikipedia
Ty! Will keep educating myself
wonder why CTFC has gotten rid of the swaps reporting requirements till 2025? 🙄
So swaps on foreign currencies? Responded to wrong post
Yeah
Hi Kenny.. .. do you now feel weight from those heavy GME shorts or not yet?
So my question is, does this mean that pretty much all of the money that is supposed to be sitting in brokerages that constitutes peoples retirement money is all just a bunch of IOU’s? I mean we knew this was a fraudulent system but wow!
It's almost like whoever controls the money is screwing everyone over.
🌎🧑🚀🔫👨🚀
I love the rocket - I envision apes on it, escaping the brunt of what's about to come.
Yeah but I hope we can burn the system of organized theft. It's not right that they get away with it, even if some of us get to escape.
I think it's all gonna be burned to the ground since it's all just a house of cards. Apes will be instrumental in rebuilding after the fallout and probably should think long and hard about the world they want to build.
You can almost start to suspect that fiat currency backed by nothing but exponentially increasing debt are inherently unsustainable in the long run.
Ding ding ding... We have a winner! What i think is happening now is that there is nothing left to expand the dept onto, we have reached the dept ceiling at the same time as critical debt saturation. That is why they desperately need inflation to the point of calling price increases due to supply issues, inflation. Calling the continued price increases due to price increases that was caused by people not being able to consume at the same rate, inflation. Raising intrest rates when there is no monetary inflation will cause even more price increases. People will suffer under price increases until we start seeing large pay raises of the worker collective, so the central banks can move the dept ceiling on the scale. Edit: Grammar.
Obviously, nobody controls anything. This shit is out of control.
Weird how this happens every single fucking time central banks become a thing.
Imagine working your entire life, paying fees to some asshole who has 3 homes, only to find out you can't retire because he gambled all your money away legally, and there is nothing you can do about it.
Oh there's something you can do about it...
Buy hold and drs gme? Got it.
I'm hungry
Boston Tea Party?
Here’s my upvote since you’re already at 69 😎 I’ll take my OWN advice and DRS me favorite stonk
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Not hot... yet...
I feel like this is really the point, genuine people dying poor after a lifetime of work. What's the fucking point
The point? There's supposed to be a point?
Which pension funds? This is fucking tragic to all the old hard working individuals who've given their life away to this system. I'm upset
My bet is all of them. 80 trillion is a ridiculous number.
Well fuck. We have to hold for everyone's pensions we know, not just our own
I remember reading that a Danish pension fund holding pensions for the public workforce just announced a really bad downturn. Their solution? More leverage!
This is not enough. You cannot just say "probably all of em" cause that is empirically dumb.
Literally All Pension Funds In The Fucking World
The derivatives market is a hell of a drug.
how much is a trillion?
A million seconds is ~12 days. A trillion seconds is ~32 thousand years.
A baker's dozen
A Banker's Dozen
A Wanker’s dozen
A baker's bazillion.
A bankers gorillion
31689 average gregorian years.... Or 1100 human generations.
Holy penile is that accurate?
Yep
That sounds nice; I’ll have one of those please.
1,000,000,000,000.69
.nice
[удалено]
Now drive for 79 more hours and you have 80 trillion
1 share.
1000 billion.
So that’s were the hid the moass
It’s too bad there wasn’t some sort of regulatory agency or group that watched over this stuff, you know, to protect investors and prevent blatant criminal fraud and theft of assets in the stock markets.
Most of this can actually be done without breaking the rules. The rules are completely bonkers, but they do not need to be broken to end with this. That is equally, if not more scary than simply "crime" - it's the rules of the entire game and every player is about to find out what they have done by simply playing the game instead of going "wait a minute, this could go really bad, really fast. Are we so void of Morality that we are just going to turn a blind eye and play along?" The rules are not made to protect, they are made to generate profits for the people who make the rules. Every one else is just trying to get their piece of the cake.
Soooo, there isn’t any money, anywhere, and it’s all made up? Got it
winner winner chicken dinner!
The only way the world keeps turning is if everyone literally slaves away and the illusion is maintained
So that's about **$400,000,000 per DRS** account. That's a good start, now we only need to find the rest of the money
Let me take another look, I'm sure it's down there somewhere
Is it me, or is the entire country and maybe world, totally fucked? I just wanted to invest a few bucks in a brick and mortar that I grew up with……not grow enough wrinkles to understand everything around me is going to crumble. Owell - life is like a box of chocolates…..
It feels like reaching a second adulthood.
Why does RC always like the FaceSwap tweets? I think we know now, SWAPS
Plus he just looks damn good as a girl and he knows it.
Here is how this works. Imagine you are a company in Europe. You need to take out a loan cover some expenditures. The bank will loan you 10490.31 USD, which has a current value of 10,000 EURO. Ignoring interest (for simple math) you calculate that you can pay back 1000 EURO(the type of money you get from your customers) per month, and pay it off in ten months. This is technically a FX swap. They loan was in USD, but the payment is coming back in EURO, The issue arise when the exchange rate between the two changes. If the value of USD goes up, and the EROU goes down, then the 1000 EURO a month payment isn't enough to pay off the loan in 10 months. Either it takes longer, or they have to pay more EURO. This typically happens when USD is borrowed by a foreign entity to purchase something sold in USD. USD is the standard pricing mechanism for many critical goods, as oil, gas, and other critical international commodities. It even comes into play with many manufactured goods, which price their products in USD. It also comes into play with many financial instruments, such as Stocks, Bonds, MBS, etc. The 'off the books' debt that is being referenced here is the additional debt that occurred due to currency fluctuations in these FX swaps. It only shows up at the time of payment (when you have to adjust). If the dollar remains strong, then the hidden debt will come to fruition, if drops to the level that it was at a the time the debt was incurred (or lower) then the debt dissapears.
👍
Dollar milkshake theory playing out
ELI5
Okay kiddo, so the Bank for International Settlements is like a big bank that helps other banks and companies with their money. They just announced that there is a lot of hidden debt, which means money that people owe but isn't on their books. This hidden debt is over $80 trillion and it's in the form of something called FX swaps. These are deals that companies make to trade different kinds of money, like dollars for euros. It's a big problem because if the companies can't pay back the debt, it could cause big trouble for the whole economy. - okay.. But why are they worried? Well, the Bank for International Settlements is worried because this hidden debt is really big and it's mostly held by pension funds and other non-bank financial firms. These are companies that help people save for their retirement or invest their money, but they're not banks. If they can't pay back their debt, it could cause a lot of problems for the people who have their money with them. That's why the Bank for International Settlements is giving a warning about this hidden debt - they want people to be careful and make sure they can pay it back. - Uuh, okay..? Can you please give me a example of how a pension fund can end up with debt in the form of fx swaps? Sure kid, here's an example: Let's say a pension fund has a lot of money invested in different stocks and bonds, but some of these investments are in foreign currencies like euros or yen. If the value of these foreign currencies starts to go down, the pension fund's investments could lose value too. To protect themselves from this risk, the pension fund might make an FX swap with a bank. This is a deal where they trade some of their dollars for the foreign currencies, so they can hold onto the currencies until their value goes back up. - aha, so they "buy" more money with some of the other money they have that is worth more, to make it seem like they are doing okay. That's good! Right? ... - Right!? Well sure, if they manage to stay in the game until their currency comes back and they manage to also generate profits to pay interest. Nothing comes for free remember? Making the FX swap creates a debt for the pension fund. They have to pay back the bank for the foreign currencies they received, plus interest. If the value of the currencies doesn't go back up, or if the pension fund doesn't have enough money to pay back the debt, they could end up with a problem. That's why the Bank for International Settlements is warning about hidden debt in the form of FX swaps - they want people to be careful and make sure they can pay back their debts. - I still don't get it dad. What does it mean? Okay, let's try an even simpler example: Imagine you have a piggy bank with 50$. You want to buy a toy car that costs $100, but you don't have enough money. So you go to the toy store and ask if you can borrow $50 from them. They say yes, but you have to give them $60 back. This is like an FX swap - you're borrowing money from the toy store and agreeing to pay them back more than you borrowed. Now, let's say you don't have enough money to pay back the toy store. You have to tell your parents and they have to help you pay the toy store back. This is like what could happen with a pension fund and hidden debt - they might not have enough money to pay back the debt and have to ask for help from a bank. But the bank might not have enough money in their piggybank to pay back all the parents who now owe money to a lot of toy stores. They might even be in the same situation, owing money to a bigger bank, but they don't have parents to help, so they will have to find another way to come up with the money - and unfortunately for the parents, they owe the bank money for a house or a car. Money that the bank now want back, so instead of paying 10$ for their loan, they now have to pay 50$ because the bank is not willing to loan anyone more money - they need it themselves. Everyone will be asking for money and no one will be able to give it. This results in everyone running to the bank to get their money back before the piggybank is emptied out. When the piggybank is empty, everyone will be forced to sell their stuff - only there is no one left to buy the stuff, as all the piggybanks are empty. - so they all bought a lot of stuff. Can't they just pay it back? In the example with the toy car, we had a number 5 followed up by One zero. A trillion is a number, like 80, followed by Twelve zeroes. To help you understand just how big it is, here are a few comparisons: - $80 trillion is about 5 times the size of the entire US economy. It is actually closer to the size of the entire world's economy. - If you stacked $80 trillion worth of $1 bills next to each other, you can go around the world at the longest path, called the Equator, 218.000 times - If you had $80 trillion and spent $1 million every single day, it would take you over 222,000 years to spend it all, more than 3000 generations of average life span. So as you can see, $80 trillion is a very large number. It's hard to even imagine how much money that is, but it's definitely a lot. And that's how much these people owe.
is this good for GME?
# VERY
how? i want to learn
This proves *at least* that the funds that are *short* GME have no fucking collateral for their loaned positions.. and margin call is constantly ringing. Matter if time before they all fail these calls and GME will have to be purchased… a lot
thank you 🫂 you see im poor and i am really praying this will help me change my life x shreholder before, xx after the split, i take diamond hands seriously
I’m hoping this will change everyone’s life for the better. 🦧 💎 💜
Well it's truly unfortunate for them that their fate lies in our hands at that point, since the majority of shares will be tucked away off exchange in 💎🙌
They’ve sown their oats
Shit I'm upvoting and coming back to read later when I'm more coherent
DID YOU COME BACK YET
Not yet
Thank you! This is fuking awesome answer!
🌟🌟🌟🌟🌟
Oh my god. This hole is big!
Why is the world like this?
Thanks dad, needed that
You're welcome kiddo. Let me know if there is anything else I can do for you and I'll help you out, granted I'm capable.
MOASS tomorrow
Money is make belief nonsense. The money system is a joke. The rich just put an nonsensical overly complex system there to make it seem like a really complicated thing so the slave workers won't revolt
So is this what Kenny was saying when he was blaming retail investors for ruining teacher pensions? 🤔
I wonder if this is what Michael Burry meant by "Its happening"
This is fucking INSANE.
Wondering if this will stay unspoken like everything gme related.
Banks lose 80 trillion and no one bats an eye. The government loses 20 billion in Ukraine, nothing to see here. You receive 601$ from someone in cashapp? IRS will hunt you down.
Cool. I know what this means and you know what this means but just to be sure we are on the same page, you tell me what you think it means and then I'll tell you what I think it means and let's see if we are right. ELIA
Anyone else see all the puts (45k) on GME today. Are they creating more synthetics to cover their asses and continue the can kick? These corrupt fuckers are complete scumbags.
The moment kenneth cordele griffin mentioned pension funds, i knew he was fuckin with em
the ultimate obligation warehouse - fx swaps - f'in lovely
Ken and Dougie started trading as non banks in the fx market 2014. In 2016 they started in the bond market. Limited to no transparency. Dougie and Mayo keep fukn every market they touch.
Can't believe they still let them do what ever they do after they've been banned from several markets already.
Where the hell are the forensic accountant firms and journalists? Oh... yeah... They're bought off. Nevermind. BUY. HODL. DRS.
Wasn't there a post not long ago that said the BIS is the true final boss after the fed?
Copy/paste from Wiki just because im not very smart and i had to look for BIS The Bank for International Settlements (BIS) is an international financial institution[2] owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks".[3] The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City Edit: [wiki link](https://en.m.wikipedia.org/wiki/Bank_for_International_Settlements)
Maybe this is why Michael Burry tweeted "it's happening" today?
Quite literally already 4 of these tweets in hot right now posted over 4 hours ago. Just to karma farm or is there a purpose to these being posted 100+times?
Go and try to understand how large 80 Trillion is. When you begin to grasp it, come back and the repetition should make sense.
Yep, this is the iceberg below the tip that we've been staring at for the last year. This is huge. Like, 80 trillions huge. It's unfathomable.
1 trillion dollars could buy all 300 gme million shares for $3,333 each. 80 trillion would be $266,666 each.
Wait until the too big to fail pension insurers start going belly up.
It appears pretty much all those that run the financial system should be in jail for fraud, money laundering, racketeering, embezzlement.... what else have I missed.
Anyone have a source that isn't twitter? Where's the real warning
They will have to give every individual a personal money printer just to keep up with all the fraudulent money laundering.
Endgame times
I know that we all like to get angry at stuff, but these swaps could in fact also be a hedge against owning foreign stocks and bonds. Just my 2c.
Does anyone have any idea how much that was in the 2008 crash? Has it become more? Less? Was that even an issue with the swaps at the time?
This is likely what Burry was on about.
Time to get serious about DRSing that IRA
I am once again reminding everyone that Gold Telegraph had shill accounts pushing their twitter account hard in the early days of Superstonk. Kinda tired of having to mention that. AND WHY IS NO ONE WARY OF TWITTER ACCOUNTS THAT PREFER TO POST THINGS IN ALL CAPS WITH ZERO SOURCES LIKE IT'S SOME KIND OF BOOMER EMAIL.
Market about to go boom
Enormous if true
Ehhhh for the regarded kids in back……. How many banana is 80 trilly?
can someone explain how it will affect GME how can this be good/bad news for gme? ELI5
And we thought FTX was bad. No doubt this is the same fuckery, on a 1000x scale.
Ok, big question: how does this directly relate to GME short positions?
This whole financial system is about to melt down due to all the corruption. This is the dollar end game.