It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Monday, 9 December 2013

Madoff Interview


"He insisted banks knew about his fraud and were complicit in the scheme
for years.."

"Mr. Madoff recalled one of the first moments he sensed that economic conditions in 2008 could be fragile. He was at the Palm Beach Country Club in Florida, he said, and he had "a young black kid" for a caddy, and the caddy was buying and selling homes.
"He said he didn't need credit. He would buy homes and flip them for a profit," Mr. Madoff recalled. "I told my wife, 'This is the end.' "

1 comment:

  1. Redemptions due to low activity. Foo, I liked the Pt one. SPPP is 1X.

    NEW YORK, Dec. 6, 2013 /PRNewswire/ -- Credit Suisse announced today that it will redeem four ETNs. Credit Suisse AG will accelerate for early redemption its VelocityShares™ 2x Long Platinum ETNs ("LPLT"), 2x Inverse Platinum ETNs ("IPLT"), 3x Long Brent Crude ETNs ("UOIL") and 3x Inverse Brent Crude ETNs ("DOIL"), in each case on December 27, 2013.