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      06-18-2013, 12:31 AM   #1519
RandomHero
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Quote:
Originally Posted by R Grubba Balls View Post
meaning if the usa defaults on its debt payments (hence going bankrupt), i get paid $1million. 2 yrs ago it was about $5000/yr, and that's all i've been able to find.
I know what it means by definition. I do financial planning for a living. I'm saying who do you expect to issue such a policy?
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      06-18-2013, 12:34 AM   #1520
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Quote:
Originally Posted by mmahany View Post
I know what it means by definition. I do financial planning for a living. I'm saying who do you expect to issue such a policy?
insurance companies? it's a default swap, happens all the time. i just can't easily google it.
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      06-18-2013, 12:36 AM   #1521
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Quote:
Originally Posted by R Grubba Balls View Post
insurance companies? it's a default swap, happens all the time. i just can't easily google it.
It's a little different when the entity has the ability to control the money supply....go waste your money I suppose. I'd rather throw it in a slot machine....better odds.
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      06-18-2013, 12:38 AM   #1522
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Originally Posted by mmahany View Post
It's a little different when the entity has the ability to control the money supply....go waste your money I suppose. I'd rather throw it in a slot machine....better odds.
the government doesn't control the money supply. the fed does. what were you doing a month before this?



anyway, i'm not selling insurance, i'm trying to buy it.
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      06-18-2013, 12:43 AM   #1523
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Quote:
Originally Posted by R Grubba Balls View Post
the government doesn't control the money supply. the fed does. what were you doing a month before this?

Yea, and the IRS isn't a government entity either
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      06-18-2013, 12:44 AM   #1524
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Originally Posted by mmahany View Post
Yea, and the IRS isn't a government entity either
have you ever voted for a fed chairman? btw, answer the previous question. no points for smartass remarks.
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      06-18-2013, 12:47 AM   #1525
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Quote:
Originally Posted by R Grubba Balls View Post
does anyone know the current rate to insure $1million against a usa default? yes i'm serious.
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      06-18-2013, 12:48 AM   #1526
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^ still on ignore buddy
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      06-18-2013, 12:50 AM   #1527
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Quote:
Originally Posted by R Grubba Balls View Post
have you ever voted for a fed chairman? btw, answer the previous question
You're more than welcome to read my previous posts in this thread if you feel that my knowledge is below your standards.

I'm not the one talking about buying federal government default securities (although calling them a security would be an insult to the investing world). Municipal (or even state) government default securities could possibly be justified, but if you're going to sit here and tell me that the government does not ultimately control the fed, you're batshit crazy.
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      06-18-2013, 12:51 AM   #1528
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Quote:
Originally Posted by mmahany View Post
You're more than welcome to read my previous posts in this thread if you feel that my knowledge is below your standards.

I'm not the one talking about buying federal government default securities (although calling them a security would be an insult to the investing world). Municipal (or even state) government default securities could possibly be justified, but if you're going to sit here and tell me that the government does not ultimately control the fed, you're batshit crazy.
don't need to read all your past stuff as they are irrelevant to this conversation. i don't have to tell you anything. you'll prove me wrong when obama issues an executive order to print more money. cuz god knows he fucking needs it.

though since it's a sucker's bet in your eyes, why don't you insure me for it? $100?... free money, right? let's set it up. at that rate, i can insure a lot more than $1million, and i can call other interested parties. as long as you can prove you're good for it and make it legal, i'll send you the money right away.

anyway, that's what i thought

Last edited by amanda hor$t; 06-18-2013 at 01:11 AM.
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      06-18-2013, 01:01 AM   #1529
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Maybe you should use the money you would have spent on this imaginary financial instrument and see a psychiatrist instead
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      06-18-2013, 01:13 AM   #1530
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Quote:
Originally Posted by R Grubba Balls View Post
don't need to read all your past stuff as they are irrelevant to this conversation. i don't have to tell you anything. you'll prove me wrong when obama issues an executive order to print more money. cuz god knows he fucking needs it.

anyway, that's what i thought
Right, and all the U.S. Government is doing is "borrowing" from the social security trust fund. They're going to pay that money back to us some day....

If you think that the U.S. government would ever default any time soon, well then put your $5k into that policy. More power to you I suppose. Again, I'd rather take that to Vegas and have better odds at the strip club. I am sticking to my guns when I say that the U.S. government CONTROLS the money supply. The Fed prints money, but it's worthless without being backed by the gov't. All the U.S. government needs to do is issue t-bills, bonds, and notes to raise funds or buy them back up. Interest rates might skyrocket in theory, but we have a hell of a long ways to go before we get back to the hyperinflation of the 80s back when CDs were paying 12%+ a year.

So even the U.S. government were to ever default, our money would be nearly worthless so what would be the point of your payout?

BTW, I'm glad you're much smarter than me. It must be tough living that high up in the clouds.

EDIT-I'm too tired to do this anymore. I'll go ahead and block you so I'm not tempted to get into this anymore. You're more than welcome to do the same to me if you find what I have to say valueless.
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      06-18-2013, 01:18 AM   #1531
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open offer to anyone who thinks like mmahany:

why don't you insure me for it? $100?... free money, right? let's set it up (IN EUROS). at that rate, i can insure a lot more than $1million, and i can call other interested parties. as long as you can prove you're good for it and make it legal, i'll send you the money right away.

and if he really did block me, be a friend and lhk.

my money's ready. and i didn't ignore him, because it's a good deal (to me). let's do it. if not, i can only conclude that 1) you're afraid, 2) you, your boss, and your boss's boss all can't afford it, ior 3) you actually agree with me and are just fronting.

Last edited by amanda hor$t; 06-18-2013 at 02:00 AM.
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      06-18-2013, 02:22 AM   #1532
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13ump
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      06-18-2013, 09:45 AM   #1533
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Alright alright alright.. enough.. back to stocks
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      06-18-2013, 09:53 AM   #1534
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what's going on in here?
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      06-18-2013, 10:30 AM   #1535
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Quote:
Originally Posted by Inspired View Post
what's going on in here?
Eh, don't worry about it. Swayed a bit off topic, but we're back on track now.
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      06-18-2013, 06:51 PM   #1536
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Just an FYI for you guys with less then 25k, take a look at SureTrader for your broker. 6-1 leverage and no PDT rule.
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      06-18-2013, 07:17 PM   #1537
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Just read their terms and conditions
"Swiss America Securities, Ltd (SureTrader) does not service accounts for U.S. citizens, U.S. residents or U.S. corporations."
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      06-18-2013, 07:44 PM   #1538
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Quote:
Originally Posted by R Grubba Balls View Post
does anyone know the current rate to insure $1million against a usa default? yes i'm serious.
Short the dollar? Because as mentioned they can just print money to pay debts. Might not have the huge payoff odds, but there's a reason that US treasuries are "risk free". Inflation is much more likely.

Unless you the type to bet on 00, then I could understand you wanting that bet..
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      06-19-2013, 01:27 AM   #1539
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Quote:
Originally Posted by R Grubba Balls View Post
does anyone know the current rate to insure $1million against a usa default? yes i'm serious.
I believe it's running about 82 basis points according to the Markit CDX North American Investment Grade Index.
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      06-19-2013, 06:27 AM   #1540
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Quote:
Originally Posted by jophish17 View Post
Short the dollar? Because as mentioned they can just print money to pay debts. Might not have the huge payoff odds, but there's a reason that US treasuries are "risk free". Inflation is much more likely.

Unless you the type to bet on 00, then I could understand you wanting that bet..
i can think of at least one scenario where the government defaults on its debt payments while the dollar stays strong.

can congress file chapter 11? lol

Last edited by amanda hor$t; 06-19-2013 at 06:36 AM.
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