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Great work Stoneleigh you really out did your self with this roundup.
Though there seems to be plenty to pull from lately.
I get the feeling we are traveling to Hades in a Gucci handbag.
Regarding the story; The Great Credit Contraction of 2007
I recently watched “Money Masters” (google)
It documents how Fed created or at least exacerbated the ”Great Depression” by first inflating then contracting money.
I keep reading that this time it’s different. It is! It’s debt instead if money.
But I have a feeling that the effect will be the same if not worse.
S2
Back then it was debt too.
But it is different this time: Today $1 billion of "something" can be used as leverage to borrow $10 billion to buy "something2". Once the deal is closed, that new "something2" can be used as collatreral to buy "something3", and so on. As long as the leveraged risk can be sold to investors. That last step is new.
If you take a conservative viewpoint, and a 10-1 fractional lending rate, losing 10% of the value of your 2nd '"something" wipes out the entire value of what you started with. All equity is out the door.
The gameplan is the same: get them all in debt over their heads, and then pull the plug. Works all the time. Make crisis, then go to war.