<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" > <channel><title>Comments on: The Greatest Ponzi Scheme of All</title> <atom:link href="http://www.biggerpockets.com/renewsblog/2008/12/22/greatest-ponzi-scheme/feed/" rel="self" type="application/rss+xml" /><link>http://www.biggerpockets.com/renewsblog/2008/12/22/greatest-ponzi-scheme/</link> <description>Learn, Network, Invest</description> <lastBuildDate>Sat, 11 Feb 2012 16:57:56 +0000</lastBuildDate> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.3.1</generator> <item><title>By: Mike</title><link>http://www.biggerpockets.com/renewsblog/2008/12/22/greatest-ponzi-scheme/#comment-62788</link> <dc:creator>Mike</dc:creator> <pubDate>Tue, 23 Dec 2008 04:25:53 +0000</pubDate> <guid isPermaLink="false">http://www.biggerpockets.com/renewsblog/?p=2991#comment-62788</guid> <description>I am so glad to see more information about &quot;fractional reserve&quot; squeezing its way through to the surface. It was only made legal in the 1700&#039;s using a reserve ratio of 2 to 10 to 1, 20,40 and beyond. These &quot;bankey&quot; types cannot be credited for having much in the brains department. It seem to be like a disease. Since it is Xmas, here is a nice adaptation by a blogger on the Dow, of the a skit called the &quot;dead parrot&quot; skit by the &quot;Monty Python&quot; team. This blogger is pretty talented i thought and he does not mind me sharing it.....here is Joel....... Ok, I spent way too much time on this.  You may be glad to know that I did copy the sketch text and edited it.  Not like I whipped this up from scratch. lol Enjoy!US Taxpayer: &#039;Ello, I wish to register a complaint.US Taxpayer: &#039;Ello, Thief?Hank Paulson: What do you mean &quot;thief&quot;?US Taxpayer: I&#039;m sorry, I had a 401K. I wish to make a complaint!Hank Paulson: We&#039;re closin&#039; for the election.US Taxpayer: Never mind that, my lad. I wish to complain about this market what I invested in not half an hour ago from this very exchange.Hank Paulson: Oh yes, the, uh, the DOW...What&#039;s,uh...What&#039;s wrong with it?US Taxpayer: I&#039;ll tell you what&#039;s wrong with it, my lad. It&#039;s dead, that&#039;s what&#039;s wrong with it!Hank Paulson: No, no, it&#039;s uh,...it&#039;s bottoming.US Taxpayer: Look, matey, I know a dead market when I see one, and I&#039;m looking at one right now.Hank Paulson: No no it&#039;s not dead, it&#039;s, it&#039;s bottomin&#039;! Remarkable market, the DOW idn&#039;it, ay? Beautiful returns!US Taxpayer: The returns don&#039;t enter into it. It&#039;s stone dead.Hank Paulson: Nononono, no, no! It&#039;s bottoming!US Taxpayer: All right then, if it&#039;s bottomin&#039;, I&#039;ll restore its confidence! &#039;Ello, Mister Market! I&#039;ve got a lovely investment for you if you show...(Paulson approves a bailout)Hank Paulson: There, it recovered!US Taxpayer: No, it didn&#039;t, that was you bailing it out!Hank Paulson: I never!!US Taxpayer: Yes, you did!Hank Paulson: I never, never did anything...US Taxpayer: &#039;ELLO MARKET!!!!! Testing! Testing! Testing! Testing! This is your nine thirty opening bell!(Goes out and buys a car and a house to stimulate the economy watches the market break support.)US Taxpayer: Now that&#039;s what I call a dead market.Hank Paulson: No, no.....No, it needs another bailout!US Taxpayer: ANOTHER BAILOUT?!?Hank Paulson: Yeah! You froze the credit market, just as it was recoverin&#039;! Credit markets freeze easily, major.US Taxpayer: Um...now look...now look, mate, I&#039;ve definitely &#039;ad enough of this. That market is definitely deceased, and when I invested in it not &#039;alf an hour ago, you assured me that its total lack of movement was due to it being volitile and scared following prolonged bad news.Hank Paulson: Well, it&#039;s...it&#039;s, ah...probably priced in.US Taxpayer: PRICED IN!?!?!? What kind of talk is that?, look, why did it crash the moment I my trade closed?Hank Paulson: The DOW prefers to correct every now and again! Remarkable market, id&#039;nit, squire? Lovely returns!US Taxpayer: Look, I took the liberty of examining that market when I got it home, and I discovered the only reason that it had been doing so well to begin with was that you had been propping it up. Hank Paulson: Well, o&#039;course it was propped up! If I hadn&#039;t propped that market up, it would have clobbered the economy, caused massive unemployment, and BOOM!US Taxpayer: &quot;BOOM&quot;?!? Mate, this market wouldn&#039;t &quot;boom&quot; if you didn&#039;t keep interfering! But now it&#039;s bleedin&#039; demised!Hank Paulson: No no! It&#039;s priced in!US Taxpayer: It&#039;s not priced in! It&#039;s passed on! This market is no more! It has ceased to be! It&#039;s expired and gone to meet &#039;is maker! It&#039;s a stiff! Bereft of life, it rests in peace! If you hadn&#039;t bailed it out it&#039;d be pushing up the daisies! &#039;Is economic processes are now &#039;istory! It&#039;s off the twig! It&#039;s kicked the bucket, &#039;e&#039;s shuffled off &#039;is mortal coil, run down the curtain and joined the bleedin&#039; choir invisibile!! THIS IS AN EX-MARKET!!Hank Paulson: Well, I&#039;d better bail YOU out then.Hank Paulson: Sorry squire, I&#039;ve had a look &#039;round the back of the shop, and uh, we&#039;re right out of bailouts.US Taxpayer: I see. I see, I get the picture.Hank Paulson: I got a Treasury bill.US Taxpayer: Pray, does it have a positive yield?Hank Paulson: Nnnnot really.US Taxpayer: WELL IT&#039;S HARDLY A BLOODY REPLACEMENT, IS IT?!!???!!?Hank Paulson: N-no, I guess not.</description> <content:encoded><![CDATA[<p>I am so glad to see more information about &#8220;fractional reserve&#8221; squeezing its way through to the surface.<br /> It was only made legal in the 1700&#8242;s using a reserve ratio of 2 to 10 to 1, 20,40 and beyond.<br /> These &#8220;bankey&#8221; types cannot be credited for having much in the brains department.<br /> It seem to be like a disease.<br /> Since it is Xmas, here is a nice adaptation by a blogger on the Dow, of the a skit called the &#8220;dead parrot&#8221; skit by the &#8220;Monty Python&#8221; team.<br /> This blogger is pretty talented i thought and he does not mind me sharing it&#8230;..here is Joel&#8230;&#8230;.<br /> Ok, I spent way too much time on this.  You may be glad to know that I<br /> did copy the sketch text and edited it.  Not like I whipped this up<br /> from scratch. lol Enjoy!</p><p>US Taxpayer: &#8216;Ello, I wish to register a complaint.</p><p>US Taxpayer: &#8216;Ello, Thief?</p><p>Hank Paulson: What do you mean &#8220;thief&#8221;?</p><p>US Taxpayer: I&#8217;m sorry, I had a 401K. I wish to make a complaint!</p><p>Hank Paulson: We&#8217;re closin&#8217; for the election.</p><p>US Taxpayer: Never mind that, my lad. I wish to complain about this<br /> market what I invested in not half an hour ago from this very<br /> exchange.</p><p>Hank Paulson: Oh yes, the, uh, the DOW&#8230;What&#8217;s,uh&#8230;What&#8217;s wrong with it?</p><p>US Taxpayer: I&#8217;ll tell you what&#8217;s wrong with it, my lad. It&#8217;s dead,<br /> that&#8217;s what&#8217;s wrong with it!</p><p>Hank Paulson: No, no, it&#8217;s uh,&#8230;it&#8217;s bottoming.</p><p>US Taxpayer: Look, matey, I know a dead market when I see one, and I&#8217;m<br /> looking at one right now.</p><p>Hank Paulson: No no it&#8217;s not dead, it&#8217;s, it&#8217;s bottomin&#8217;! Remarkable<br /> market, the DOW idn&#8217;it, ay? Beautiful returns!</p><p>US Taxpayer: The returns don&#8217;t enter into it. It&#8217;s stone dead.</p><p>Hank Paulson: Nononono, no, no! It&#8217;s bottoming!</p><p>US Taxpayer: All right then, if it&#8217;s bottomin&#8217;, I&#8217;ll restore its<br /> confidence! &#8216;Ello, Mister Market! I&#8217;ve got a lovely investment for you<br /> if you show&#8230;</p><p>(Paulson approves a bailout)</p><p>Hank Paulson: There, it recovered!</p><p>US Taxpayer: No, it didn&#8217;t, that was you bailing it out!</p><p>Hank Paulson: I never!!</p><p>US Taxpayer: Yes, you did!</p><p>Hank Paulson: I never, never did anything&#8230;</p><p>US Taxpayer: &#8216;ELLO MARKET!!!!! Testing! Testing! Testing! Testing!<br /> This is your nine thirty opening bell!</p><p>(Goes out and buys a car and a house to stimulate the economy watches<br /> the market break support.)</p><p>US Taxpayer: Now that&#8217;s what I call a dead market.</p><p>Hank Paulson: No, no&#8230;..No, it needs another bailout!</p><p>US Taxpayer: ANOTHER BAILOUT?!?</p><p>Hank Paulson: Yeah! You froze the credit market, just as it was<br /> recoverin&#8217;! Credit markets freeze easily, major.</p><p>US Taxpayer: Um&#8230;now look&#8230;now look, mate, I&#8217;ve definitely &#8216;ad<br /> enough of this. That market is definitely deceased, and when I<br /> invested in it not &#8216;alf an hour ago, you assured me that its total<br /> lack of movement was due to it being volitile and scared following<br /> prolonged bad news.</p><p>Hank Paulson: Well, it&#8217;s&#8230;it&#8217;s, ah&#8230;probably priced in.</p><p>US Taxpayer: PRICED IN!?!?!? What kind of talk is that?, look, why did<br /> it crash the moment I my trade closed?</p><p>Hank Paulson: The DOW prefers to correct every now and again!<br /> Remarkable market, id&#8217;nit, squire? Lovely returns!</p><p>US Taxpayer: Look, I took the liberty of examining that market when I<br /> got it home, and I discovered the only reason that it had been doing<br /> so well to begin with was that you had been propping it up.<br /> Hank Paulson: Well, o&#8217;course it was propped up! If I hadn&#8217;t propped<br /> that market up, it would have clobbered the economy, caused massive<br /> unemployment, and BOOM!</p><p>US Taxpayer: &#8220;BOOM&#8221;?!? Mate, this market wouldn&#8217;t &#8220;boom&#8221; if you didn&#8217;t<br /> keep interfering! But now it&#8217;s bleedin&#8217; demised!</p><p>Hank Paulson: No no! It&#8217;s priced in!</p><p>US Taxpayer: It&#8217;s not priced in! It&#8217;s passed on! This market is no<br /> more! It has ceased to be! It&#8217;s expired and gone to meet &#8216;is maker!<br /> It&#8217;s a stiff! Bereft of life, it rests in peace! If you hadn&#8217;t bailed<br /> it out it&#8217;d be pushing up the daisies! &#8216;Is economic processes are now<br /> &#8216;istory! It&#8217;s off the twig! It&#8217;s kicked the bucket, &#8216;e&#8217;s shuffled off<br /> &#8216;is mortal coil, run down the curtain and joined the bleedin&#8217; choir<br /> invisibile!! THIS IS AN EX-MARKET!!</p><p>Hank Paulson: Well, I&#8217;d better bail YOU out then.</p><p>Hank Paulson: Sorry squire, I&#8217;ve had a look &#8217;round the back of the<br /> shop, and uh, we&#8217;re right out of bailouts.</p><p>US Taxpayer: I see. I see, I get the picture.</p><p>Hank Paulson: I got a Treasury bill.</p><p>US Taxpayer: Pray, does it have a positive yield?</p><p>Hank Paulson: Nnnnot really.</p><p>US Taxpayer: WELL IT&#8217;S HARDLY A BLOODY REPLACEMENT, IS IT?!!???!!?</p><p>Hank Paulson: N-no, I guess not.</p> ]]></content:encoded> </item> </channel> </rss>
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