casino washington

I’ve consistently awful gambling. I acquaint myself I accept abundant vices already, but the accuracy is that I’m just bourgeois with money. Informed investment is one thing; cutting craps is another. It seems asinine to accident one’s abundance that way – abnormally already you apperceive the accurate odds.

I aswell don’t affliction abundant for the avant-garde cyberbanking system. I don’t animosity the assumption of profit-seeking financiers. It’s just that today’s crop has gone able-bodied above bazaar allotment and now basically writes their own rules, the blow of us be damned.

One of the objectives of Wall Street’s ascendancy of the rules is to burrow the accurate allowance of their bets. In the Great Crash of 2008, what looked like a solid counterparty arrangement acquainted out to be a abode of cards cleverly advised to attending like a skyscraper.

The rules are a tiny bit tighter now, so Wall Street has absitively to body its abode of cards elsewhere… but it could still collapse, demography you down with it.

A Rose By Any Added Name

Derivatives accept been about as continued as accounts itself. They are basically second-tier affairs that acquire their amount from the achievement of an basal asset, index, bill or absorption rate. Insurance is a anatomy of derivative, as are futures, options and swaps.

Starting in 1994, Wall Street began to about-face derivatives abroad from ambiguity – such as if a lender takes out a acclaim absence bandy adjoin a accommodation fabricated to addition affair – and against speculation.

For example, a avant-garde acquired can be “naked” – i.e., taken out by a affair who has no insurable absorption in a transaction at all. If you borrow money from someone, I can access into a acquired arrangement with anyone abroad to accept payments if you absence on your loan.

The analytical affection of the avant-garde acquired is that it allows break of buying of an asset and account from its bazaar value. The a lot of alarming forms of derivatives acquiesce humans to accumulation from bread-and-butter processes and contest in which they accept no role or absorption at all. In added words, gambling.

And it’s a big casino. According to the Bank for International Settlements, the absolute estimated amount of acquired affairs about the apple is an alarming $710 abundance ($710,000,000,000,000). Added estimates put the absolute at over a quadrillion dollars. The top 25 banks in the United States abandoned accept added than $236 abundance of acknowledgment to derivatives.

To accomplish affairs worse, the majority of derivatives are traded over the counter, area data about pricing, accident altitude and collateral, if any, are secret.

A Private Bank in the Caribbean

Most of us can anamnesis cine scenes in which James Bond struts up to a baccarat table in a Caribbean bank for a bold of chemin de fer.

Those sorts of retail-level casinos are baby change compared to the mega-casinos on some of the Caribbean islands. For example, Wells Fargo now has about $2 abundance account of derivatives stored in an asymmetric area accessory registered in the Cayman Islands – basically, just a P.O. box. Bank of America has about a billion, and added big Wall Street banks accept ample amounts as well.

The funny affair is that the official amount of derivatives captivated by U.S. institutions has collapsed badly back the accomplishing of the Dodd-Frank Act in 2013. Trillions of dollars of trades acutely vanished.

But there was no abracadabra trick. U.S. megabanks artlessly confused a big block of their derivatives off their own antithesis bedding and assimilate those of adopted subsidiaries. They able this acknowledgment to a artifice won by a above Enron lobbyist.

When Dodd-Frank was beneath debate, a Republican congressman, Rep. Spencer Bachus of Alabama, proposed that banks’ across operations be alfresco the new rules. To abstain that, Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler drafted accent that said the CFTC would alone arbitrate if U.S. banks’ across operations “have a absolute and cogent affiliation with activities in, or aftereffect on, business of the United States.”

So the banks and their advocate accompany mobilized the troops. If the CFTC wrote the Dodd-Frank accomplishing rules in 2013, the banks sweet-talked CFTC Commissioner Mark Wetjen, a longtime abettor to Democratic Senator Harry Reid. He acclimated his access to admit accent that says that U.S. banks do not “guarantee” the derivatives captivated by their adopted subsidiaries.

So adopted they went.

If You Believe This, I’ve Got a Bridge to Sell You

Thanks to the bipartisan efforts of Wall Street’s buddies in Washington, the trillions of dollars’ account of derivatives captivated by adopted subsidiaries clearly don’t accept any “connection with activities in, or aftereffect on” the U.S. cyberbanking system.

Riiiight. And the Pope ain’t Catholic.

Here’s the absolute deal. 1.) The U.S. cyberbanking arrangement is secretly leveraged to the hilt, and just as acceptable to collapse as it was in 2008 – apparently added so. 2.) Very few humans are acquainted of this because lobbyists accept succeeded in ambuscade it. 3.) If it goes down, some adopted jurisdictions are traveling to go down with it.

If you adopt investment to gambling, by all agency go offshore… but do it my way, not the Wall Street way.


My Driving

I am active forth that continued aphotic ribbon. That continued acutely boring ribbon. 155 afar to work. That’s right, 155 afar to work. Each way. 155 afar to plan and 155 afar aback home. This isn’t every day though. I yield three (3) Interstates to get to work. They are as follows:

I-395 in CT. (it acclimated to be alleged Route 52, now it is aswell alleged the ‘American Ex-Prisoner of War Memorial Highway)

I-95 in CT. (also alleged the Connecticut Turnpike)

I-287 in NY. (Also alleged the Cross-Westchester Expressway)

The I-95 area from Greenwich, CT. to I-395 in Killingly, CT. is aswell alleged the Governor John Davis Lodge Turnpike. I drive by or abreast six (6) cities or towns catastrophe in ‘ford’ and they are: Waterford, Guilford, Branford, Milford, Stratford, and Stamford. I drive by or abreast three (3) cities or towns catastrophe in ‘port’ and they are: Westport, Bridgeport, and Southport. I stop at the Travel Center of America or TA (my wife calls it T&A) in Branford to get my gas. Always at Pump # 14 (I assumption I am animal of addiction or maybe I accept some OCD). The acclimate that I accept accomplished active to plan these accomplished 13-years has consisted of the following: close pea-soup fog, monsoon-like rain, low temperatures of 10-below aught in winter (with snow drifts of capricious heights alignment from 3ft. to 10ft.) and top temperatures of 105 degrees in summer. There is a adduce attributed to Mark Twain that says: “If you don’t like the acclimate in New England now, just delay a few minutes.” You may be allurement yourself, did he say 13-years you accept been active this commute? Yes I have, but for the aboriginal 10-years of those 13 my workweek consisted of Wednesday (8am until 8:30pm), Saturday & Sunday (both of those canicule were aswell 8am until 8:30pm). My anxiety would go off at 3am on Wednesday mornings; I would in fact get out of bed ancient amid 3am and 3:30am. Then I would leave the abode about amid 4am and 4:30am (on canicule I was active backward I would leave about 5am). Then drive the 3-to-3-1/2-hour drive to work. Then plan the 12-1/2-hour shift. Leave plan at 8:30pm. Drive the 3-to-3-1/2-hour drive home. Get home amid 11pm and 12-midnight. So that agency I was alive about 19-hours. On the weekend I would break brief locally on Saturday night. If I collection home Saturday night I would get amid 3 and 3-1/2-hours of sleep. If I break brief I could get 6-hours or more. That is what I did for 10-years. Now in my new position which started March 3rd 2014 I go to plan Monday morning and break locally until I go home Friday night. My wife just loves it – NOT! Sometimes if I drive home on Friday and the cartage is absolutely bad it can yield 4-hours to get home. Oh well, suck-it-up buttercup. You accept to do what you accept to do. But I am digressing. On my drive these accomplished 13-years I accept apparent all kinds authorization plates that says things (I accept a account of 330 so far) like ‘NOSOUP4U’ or ‘PPLRSTPD’ and ‘XY GIRL’. I accept aswell apparent all kinds of drivers and all kinds of driving. Most truckers are acceptable drivers such as UPS drivers. Bad drivers are usually the ones active the Casino Buses. Yield and Stop signs are alternative for Rhode Island drivers (as are about-face signals). Massachusetts drivers are accepted as Mass-Holes (for acceptable reason!). New Jersey drivers apperceive area the gas pedal is for sure! New York drivers are accident takers. I plan in Yonkers (pronounced ‘Yonk Uzz’) in New York, but the Hospital I plan for is in the Bronx (Da Bronx). The pedestrians in the Bronx assume to be absent to the cartage or maybe its airs or maybe they just don’t care.

The afterward are the States and Cities I accept in fact apprenticed in:

Arkansas – assorted cities

California – San Diego

Colorado – Denver, Boulder

Connecticut – the accomplished accompaniment

Illinois – Chicago

Maine – assorted cities

Massachusetts – all over

Missouri – Jefferson City

Nevada – Las Vegas

New Hampshire – assorted cities

New Jersey – assorted cities

New York – all over

Ohio – Dayton

Oregon – assorted cities

Pennsylvania – assorted cities

Rhode Island – the accomplished accompaniment (because it is so huge!)

Texas – San Antonio

Vermont – assorted cities

Virginia – assorted cities

Washington Accompaniment – assorted cities

Washington, D.C. (District of Columbia)

Canada – Toronto

England – Margate, Ramsgate

I accept survived active in all the aloft places and my wife still thinks I don’t drive actual well!