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	<title>Comments on: Value of Derivatives Held By U.S. Commercial Banks Has Plunged By $8 trillion</title>
	<atom:link href="http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/</link>
	<description>An independent perspective on the Australian and global investment markets</description>
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		<title>By: Freak'd</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20999</link>
		<dc:creator>Freak'd</dc:creator>
		<pubDate>Fri, 02 May 2008 07:05:29 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20999</guid>
		<description>I highy recommend putting your new Plasma TV out on the street for the next city clean up campaign and not buying another. (Make sure you smash the screen first)  What a difference!  Done en masse, might solve some of above mentioned problems....</description>
		<content:encoded><![CDATA[<p>I highy recommend putting your new Plasma TV out on the street for the next city clean up campaign and not buying another. (Make sure you smash the screen first)  What a difference!  Done en masse, might solve some of above mentioned problems....</p>
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		<title>By: Unpopular Truth</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20990</link>
		<dc:creator>Unpopular Truth</dc:creator>
		<pubDate>Fri, 02 May 2008 05:37:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20990</guid>
		<description>I wont try and sugar coat it that all countries act in their own best interest most of the time (they all do. It&#039;s human nature). 

However where you see it as a problem, I see rampant consumerism as the key to elevating certain countries out of poverty though.  Consider that China and India compared to where they were 50 years ago, because of Westerners need to produce goods at a lower price.  

They now have an aspirational middle class, not just the rich and poor, and this class is the vital element to promoting democracy and egalitarian values in the long term. 

Sure they have a long way to go, and they are far from perfect, but so are Western countries. The important thing is, through their use of our consumption, they have tied their success to ours and are better off for it. Trade relations are the key to avoiding war. When you make it too cost ineffective to fight, people will choose trade and negotiation.

Look up &quot;free to choose&quot; on youtube or something and see what I mean about consumerism causing the demise of entrenched poverty. It&#039;s an eye opener to be sure!

Also your comment on the lack of centralized power.. well we know what happens when there are 2 top-dogs rather than one. It ends in tears, and even the winner comes away with wounds.  I&#039;d rather have a benevolent top dog like the USA than a cruel dictatorship like China or Russia any day.

I&#039;m not saying people should not criticize the USA. By all means, point out its flaws so they can correct it. But this rampant anti americanism in the mainstream media and blogs is utterly absurd. People have not considered the alternatives, or they live on fantasy island where money is free and everyone hugs each other all day.</description>
		<content:encoded><![CDATA[<p>I wont try and sugar coat it that all countries act in their own best interest most of the time (they all do. It's human nature). </p>
<p>However where you see it as a problem, I see rampant consumerism as the key to elevating certain countries out of poverty though.  Consider that China and India compared to where they were 50 years ago, because of Westerners need to produce goods at a lower price.  </p>
<p>They now have an aspirational middle class, not just the rich and poor, and this class is the vital element to promoting democracy and egalitarian values in the long term. </p>
<p>Sure they have a long way to go, and they are far from perfect, but so are Western countries. The important thing is, through their use of our consumption, they have tied their success to ours and are better off for it. Trade relations are the key to avoiding war. When you make it too cost ineffective to fight, people will choose trade and negotiation.</p>
<p>Look up "free to choose" on youtube or something and see what I mean about consumerism causing the demise of entrenched poverty. It's an eye opener to be sure!</p>
<p>Also your comment on the lack of centralized power.. well we know what happens when there are 2 top-dogs rather than one. It ends in tears, and even the winner comes away with wounds.  I'd rather have a benevolent top dog like the USA than a cruel dictatorship like China or Russia any day.</p>
<p>I'm not saying people should not criticize the USA. By all means, point out its flaws so they can correct it. But this rampant anti americanism in the mainstream media and blogs is utterly absurd. People have not considered the alternatives, or they live on fantasy island where money is free and everyone hugs each other all day.</p>
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		<title>By: Winkinatcha</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20898</link>
		<dc:creator>Winkinatcha</dc:creator>
		<pubDate>Thu, 01 May 2008 08:45:37 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20898</guid>
		<description>Unpopular Truth

Although the USA might contribute a bundle to philanthropic efforts, have you considered the huge costs to other countries brought on by US foreign policies, including various invasions, trade embargoes, protectionist philosophies etcetera?

I do not wish to see the demise of any nation and take no joy for the suffering of said nation&#039;s people during the demise.

However I do not see the nation of the USA as having some great record of concern for other nations and their people, unless that concern translates into the USA&#039;s own benefit.

Bearing that in mind, maybe a little less &#039;power&#039; and leadership in the hands of the USA may be of greater benefit over-all for the entire globe.

From my perspective, I am quite happy to reduce my protein intake and rampant consumerism grown by following the &#039;leadership&#039; of the USA if it means a better standard of living for the majority of the rest of the world. 

Are you?

;)</description>
		<content:encoded><![CDATA[<p>Unpopular Truth</p>
<p>Although the USA might contribute a bundle to philanthropic efforts, have you considered the huge costs to other countries brought on by US foreign policies, including various invasions, trade embargoes, protectionist philosophies etcetera?</p>
<p>I do not wish to see the demise of any nation and take no joy for the suffering of said nation's people during the demise.</p>
<p>However I do not see the nation of the USA as having some great record of concern for other nations and their people, unless that concern translates into the USA's own benefit.</p>
<p>Bearing that in mind, maybe a little less 'power' and leadership in the hands of the USA may be of greater benefit over-all for the entire globe.</p>
<p>From my perspective, I am quite happy to reduce my protein intake and rampant consumerism grown by following the 'leadership' of the USA if it means a better standard of living for the majority of the rest of the world. </p>
<p>Are you?</p>
<p> <img src='http://www.dailyreckoning.com.au/wp-includes/images/smilies/icon_wink.gif' alt=';)' class='wp-smiley' /> </p>
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		<title>By: Unpopular Truth</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20890</link>
		<dc:creator>Unpopular Truth</dc:creator>
		<pubDate>Thu, 01 May 2008 06:56:59 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20890</guid>
		<description>I stand corrected on the figures. I was misinformed. Looking at the wikipedia entry you&#039;re about right on the percentages there.
Ok, so the UN loses a quarter of its funding rather than three quarters.

Regardless of the difference, they&#039;re still the top of the contributions list by a long way. The net result would be similar should the US collapse, whether its 25% or 80%. You can&#039;t run an organization like this without a lot of money, and the world will be a poorer place literally for it without the philanthropic efforts of the USA.</description>
		<content:encoded><![CDATA[<p>I stand corrected on the figures. I was misinformed. Looking at the wikipedia entry you're about right on the percentages there.<br />
Ok, so the UN loses a quarter of its funding rather than three quarters.</p>
<p>Regardless of the difference, they're still the top of the contributions list by a long way. The net result would be similar should the US collapse, whether its 25% or 80%. You can't run an organization like this without a lot of money, and the world will be a poorer place literally for it without the philanthropic efforts of the USA.</p>
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		<title>By: Dan</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20883</link>
		<dc:creator>Dan</dc:creator>
		<pubDate>Thu, 01 May 2008 06:44:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20883</guid>
		<description>Right, the US share is a bit under 25%. Japan picks up just a shade less all on its own (much smaller population) and the EU nations are collectively in for about 36%, which is also a higher per-capita rate. Add to this the US has a nasty record of withholding dues based on objections to programs and policies.

You might be right about donating more money to developing nations. Dunno.</description>
		<content:encoded><![CDATA[<p>Right, the US share is a bit under 25%. Japan picks up just a shade less all on its own (much smaller population) and the EU nations are collectively in for about 36%, which is also a higher per-capita rate. Add to this the US has a nasty record of withholding dues based on objections to programs and policies.</p>
<p>You might be right about donating more money to developing nations. Dunno.</p>
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		<title>By: Sudhakaran</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20878</link>
		<dc:creator>Sudhakaran</dc:creator>
		<pubDate>Thu, 01 May 2008 05:48:00 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20878</guid>
		<description>Unpopular Truth should get his facts straight, the US does NOT fund &quot;around 80% of the United Nations&quot;, it used to fund about 25%  of the regular budget and that  figure is going down gradually . Countries like Japan pick up the slack, as UN Membership dues are based on population and GDP.  Since the Reagan era , the US was not paying its entire dues for political reasons forcing other wealthy nations to pay their dues a year in advance!</description>
		<content:encoded><![CDATA[<p>Unpopular Truth should get his facts straight, the US does NOT fund "around 80% of the United Nations", it used to fund about 25%  of the regular budget and that  figure is going down gradually . Countries like Japan pick up the slack, as UN Membership dues are based on population and GDP.  Since the Reagan era , the US was not paying its entire dues for political reasons forcing other wealthy nations to pay their dues a year in advance!</p>
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		<title>By: Unpopular Truth</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20870</link>
		<dc:creator>Unpopular Truth</dc:creator>
		<pubDate>Thu, 01 May 2008 05:09:58 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20870</guid>
		<description>I hope you guys that are looking forward to the demise of the US understand that they donate more money to developing countries than any other by a long way.

They also fund around 80% of the United Nations too, so don&#039;t look to them for leadership when it happens. When the US falls, the world as we know it falls with it.</description>
		<content:encoded><![CDATA[<p>I hope you guys that are looking forward to the demise of the US understand that they donate more money to developing countries than any other by a long way.</p>
<p>They also fund around 80% of the United Nations too, so don't look to them for leadership when it happens. When the US falls, the world as we know it falls with it.</p>
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		<title>By: steve b</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20855</link>
		<dc:creator>steve b</dc:creator>
		<pubDate>Thu, 01 May 2008 04:10:01 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20855</guid>
		<description>PFS (Pretty Freaking Strange) sums it up pretty well. I remember seeing a doco on the unbelievable amount of debt the US had run up in 1990 and people were talking about the collapse of the dollar and the rise of gold. Well many have underestimated how long this bubble has stayed inflated despite the debt levels increasing every year. Understanding time frames is essential to any investment decisions so it may go pop in the next 24hrs but i doubt it.

I expect Obama to be the next president but I sure as hell wouldn&#039;t want the job and to be seen as responsible for the next few yrs.

As far as the US public debt goes Bill Clinton has the best track record for halting the slide.

The US now owes $5,207,495,999,107.06
from http://www.treasurydirect.gov/NP/BPDLogin?application=np 

steve b</description>
		<content:encoded><![CDATA[<p>PFS (Pretty Freaking Strange) sums it up pretty well. I remember seeing a doco on the unbelievable amount of debt the US had run up in 1990 and people were talking about the collapse of the dollar and the rise of gold. Well many have underestimated how long this bubble has stayed inflated despite the debt levels increasing every year. Understanding time frames is essential to any investment decisions so it may go pop in the next 24hrs but i doubt it.</p>
<p>I expect Obama to be the next president but I sure as hell wouldn't want the job and to be seen as responsible for the next few yrs.</p>
<p>As far as the US public debt goes Bill Clinton has the best track record for halting the slide.</p>
<p>The US now owes $5,207,495,999,107.06<br />
from <a href="http://www.treasurydirect.gov/NP/BPDLogin?application=np" rel="nofollow">http://www.treasurydirect.gov/NP/BPDLogin?application=np</a> </p>
<p>steve b</p>
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		<title>By: jack Bonner</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20783</link>
		<dc:creator>jack Bonner</dc:creator>
		<pubDate>Wed, 30 Apr 2008 17:23:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20783</guid>
		<description>For gods sakes stand back, no telling what the USA will do next. Can you still get gold in Australia?</description>
		<content:encoded><![CDATA[<p>For gods sakes stand back, no telling what the USA will do next. Can you still get gold in Australia?</p>
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		<title>By: Jack Carlson</title>
		<link>http://www.dailyreckoning.com.au/derivatives-commercial-banks/2008/04/29/comment-page-1/#comment-20780</link>
		<dc:creator>Jack Carlson</dc:creator>
		<pubDate>Wed, 30 Apr 2008 17:10:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.dailyreckoning.com.au/?p=2543#comment-20780</guid>
		<description>America is a second rate power in the world today and it does not matter who the US president might be. You have the UK, EU and of course Australia, all of which are more capable than the USA in world affairs not to mention global finance and commerce, so no risk there. We on the Pacific rim are perfectly content to have the PCR dominant in the Pacific and Australia and India suzerain to the new Chinese super state. As for Obama, bring him on! He knows how to deal with Pacific interests - ignore them!  You have nothing to fear in a inward turning United States, will not much anyway. Which harbour will you offer the Chinese? Perth is probably best with the Straits and all nearby.</description>
		<content:encoded><![CDATA[<p>America is a second rate power in the world today and it does not matter who the US president might be. You have the UK, EU and of course Australia, all of which are more capable than the USA in world affairs not to mention global finance and commerce, so no risk there. We on the Pacific rim are perfectly content to have the PCR dominant in the Pacific and Australia and India suzerain to the new Chinese super state. As for Obama, bring him on! He knows how to deal with Pacific interests - ignore them!  You have nothing to fear in a inward turning United States, will not much anyway. Which harbour will you offer the Chinese? Perth is probably best with the Straits and all nearby.</p>
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