(snip)""The worse news, from the standpoint of a whole cornucopia of governments and taxing authorities that have sprung into being over the last 40 years, is that these kinds of 'fails to deliver' things are losses, and losses are deductible against taxable gains…"

I now spend an inordinate amount of time alternately whimpering in fear and bellowing in outrage, especially after being told of the laughable lineup of the new Obama team of appointments and posts, every one of whom is promising vigorous intervention and deficit-spending of one kind or another, which is the exact last thing that is needed since government intervention and deficit-spending are the reasons that we are in the dire straits that we are, unfortunately, in!

But these moronic people are the same as moronic people everywhere these days, and to show you the kind of corruption, lying and general stupidity that pervades everything in some grotesque leveraged web of interconnected financial stupidities financed by Federal Reserve excesses of money and credit creation and governmental malfeasance in controlling it, Junior Mogambo Ranger (JMR) Richard R. forwarded an article from the Euromoney newsletter that reported that another bunch of scumbags were lying, this time about their pledged U.S. Treasury assets as collateral for debts and bets, and when it came time to make good on their losses, they could not deliver the pledged collateral!

Thus, "fails to deliver among the 17 primary dealers in the US treasury market have rocketed to more than $2 trillion over a period of weeks and still lie above $1.3 trillion. Broker/dealers have stopped delivering bonds." Yikes!

One of the most frustrating things in the world is winning your speculative bet but being cheated out of the money because the creep on the other side of your bet won't pay off, like when I charmingly bet my wife a thousand bucks after the honeymoon was over that our marriage wouldn't last another six months, and she laughed and said, "I'll take that bet, because if you think I am going to let you off that easy, you don't know squat about revenge, you Creepy Little Weirdo Bastard From Hell (CLWBFH)!"

Now, after 30 years of marriage, she is still hounding me to pay her the thousand bucks I owe her, and all the other thousands I owe her when I pressed the bet, even though I always have to tell her that I don't (pause) have (pause) any (pause) money. So you see, I am somewhat of an expert on "fails to deliver"! Hahaha!

The worse news, from the standpoint of a whole cornucopia of governments and taxing authorities that have sprung into being over the last 40 years, is that these kinds of "fails to deliver" things are losses, and losses are deductible against taxable gains, and even against some income sometimes, which means there are no taxes to be paid, potentially, on trillions of dollars of losses!

And not only that, but as far as federal income tax is concerned, losses that exceed taxable gains can be carried forward indefinitely until they are finally written off either by netting against all future taxable gains (again, paying no taxes on the gains!) and/or $3,000 a year of ordinary income, further reducing tax revenue.

So you can see the government's interest in preventing deflation, and why they are doing the desperate, doomed crap that they are doing."(snip)

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