Biggest Transfer of Wealth in History


	Biggest Transfer of Wealth in History

JICWyllie

7-11-2008 10:40 AM

133 views

tags:

economy, financial markets, i-crisis, i-insolvancy

Add a Comment

Login to Comment. Not a member yet? Sign up

We Didn't Start the Fire: Wall Street Melt...

Th Woman who saw this crisis Coming Silenc...

British life and culture

Sarah palin Ain't No Lady!

Nature loss 'dwarfs bank crisis'

U.S. Economy a Bit Chaotic

More clips from JICWyllie

Deflation Threat Returns as Asset Markets ...

One in four mammals risks extinction

The free Skype call recorder

Today's Top Clips

visit the Top Clips page

View the Top Clips from July 11, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/9fc6cc45-5f71-454c-8958-93edf837a9f7/1D6F3AC1-FBE8-44EE-A47B-3E603EEC6BEF/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html" href="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html" style="font-size: 11px;">www.fspinvest.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html"><DIV>This week began with alarm bells. First Bridgewater Associates broke the glass and pulled the handle; it said the conflagration in the credit markets might lead to losses four times higher than previous estimates – at $1.6 trillion. A lot of money, even for someone who lives in London. </DIV><BR /><DIV>Bridgewater helpfully pointed out that this was just the beginning; the world would lose an additional $12 trillion in foregone credit.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html">To give you an idea of the scale of a $12 trillion problem, the entire UK economy generates only $2.8 trillion of output annually. The US economy – at $13.8 trillion – is only slightly bigger than the anticipated damage.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html">Thanks to America’s mad monetary policy, these private assets are being taken into public ownership. Some of America’s most important properties are being nationalized...but by other nations.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.fspinvest.co.uk/free-e-letters/daily-reckoning/articles/delusion-reality-00034.html"><DIV>And the balance sheet of US Fed shows $2.3 trillion of US treasury debt held in custody for foreign central banks. </DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/1D6F3AC1-FBE8-44EE-A47B-3E603EEC6BEF/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Blog; Copyright; Privacy; EULA

Search Options

Related Clips

More clips from JICWyllie

Today's Top Clips