that if you default you're going to cause an economic collapse and there won't be cash at the a.t.m. machine meanwhile the forex market is jump to five trillion dollars a day there is no shortage of liquidity out there if ireland were default on all of its debt it's a basically a pimple you know the entire on the on the on the on the grump of the global money markets i mean the entire forex market trades seven eight nine ten times ireland's g.d.p. every day you know if the entire country were to fall nobody would notice much there being a catastrophe you know it's when i was when i'm in dublin i hear people talking about i or irish as if you know it's their mother and their mother would stop loving them and then instead of understanding that i go irish is all whore is a prostitute the prostitutes don't remember you the next day they don't remember fondly though that what you shared with them the day before you know they're just prostitutes their wars but mary and arlene they seem to be wanting to have a relationship with anglo-irish who is not interested in a relationship they just want the

materials alone about it one thousand right well the card allows for the users when they go to an a.t.m. machine or they use it as a purchases that they get the spot price for currencies there's no market making going on there's no spread that everyone else is using a credit card to chase customers who use the non political card of course when they use the machines and they go and make a purchase in a foreign country with their card there's a huge spread two three four five percent sometimes the bank just breaks or i should say rapes their customers j.p. morgan are subsidizing that top one percent of one percent yes but on the other hand max you can think of it this way burning made off also had an exclusive club not into the whole colloidal you get twenty five million dollars you can be friends of bernie made up oh he's the guy who set up the nasdaq is this just a way for them like one thousand guy. dollar cost credit card that they say gives you entree into jamie diamond's inner circle but is like a laid off policy scheme they need new suckers to come in and become retail customers to subsidiz

the behest of the larger banks who are in there who are able to afford every single corner an a.t.m. machine or a little office out little or something like that at a smaller bank just deepening the capital to begin to present itself within smaller communities so there's not even opportunity for anybody and a little guy out there to try to break into the current says david so what do you think of some of these calls that we have the very cute catchy video that we just watched calling for breaking up break ups of the big banks or specifically parody of a. i think every big bank should be great enough number one and number two what we have seen come out of the legislative and regulatory rules in washington is that this won't happen what's been debated what has been passed indicates that there will not be breaking up of these big banks and what that means is that these banks remain too big to fail and more risky than they were before the crisis if you take a look at the bank of america the insides of bank of america what is it done in the last three years it's increased its derivatives its most