I’d love to see Paul and Stewart sit down for at least 30 minutes so Paul could better answer some of Jon’s questions.
http://www.cnbc.com/id/32962379
Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.
Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks.
So what’s really happening here (theoretically) is that stronger banks are pooling capital to help out smaller banks to keep the system as a whole from falling apart. This is exactly what happened before the FED and/or FDIC. It also happens naturally through risk diversification in a more normal market place with less distorted risks.
When Albert Talton decided to print some of his own money, he had no experience in counterfeiting, printing, or graphic design. A career criminal with a curious and meticulous nature, at the time Talton didn’t even own a computer.
His first batches of fake bills were created using a standard HP desktop printer. And they weren’t very good. Yet, according to a story by Men.style.com, Talton soon became one of the most accomplished and prolific counterfeiters in the history of the U.S.
Over the course of three years, Talton managed to evade capture and print $7 million worth of $100 bills. His team used garden variety laser printers, computers and imaging software to circumvent sophisticated anti-forgery technologies built into every bill. The case illustrates how technology has made it much easier to commit high crimes with tools available at a typical consumer electronics store. Every week or so, Talton picked up new printer cartridges from his local Staples store, dropped off his empty cartridges at the store’s recycling bin, and even used a rewards card to collect points to use for future purchases. On May 15, he was finally caught with five accomplices, according to Coin News.
How good was Talton? Most counterfeiters do not make more than $10,000 worth of bills before they are caught,according to Men.Style.com. Talton’s illicit talents certainly funded a nifty lifestyle. During his counterfeit spree, Talton spent lavishly on expensive home audio equipment and exotic cars, including a $140,000 Mercedes Benz. He also became one of the most wanted men by the U.S. Secret Service, the government agency that polices counterfeiting, one of only two crimes mentioned in the U.S. Constitution.
They are getting good with the computer effects.
This guy is a hoot. Government must step in to help with the economic problem? They created it. They need to protect the innocent actors? When you debase the currency there is no way to protect them beside stopping the intervention.
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