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Visualizing What $1.2 Trillion In Secret Fed Bailouts To The Banking Kleptocracy Looks Like
While Bloomberg has done a tremendous job of digging through 29,346 pages of FOIA data, its discovery is not at all surprising: that Wall Street's (not to mention the rest of the world's) biggest banks received a total of $1.2 trillion in previously secret Fed loans, in addition to the trillions in public backstops and loans from the US Treasury. As a reminder, "denominated in $1 bills, the $1.2 trillion would fill 539 Olympic-size swimming pools." The best summary of this ongoing collusion between the Fed and Wall Street, in which it once again for the nth time becomes clear that all the Fed cars about is making sure its banking masters are never impaired, is from the article itself: "Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret, avoiding the stigma of weakness." And there you have it: everything that come out of Wall Street is and has always been a lie: either courtesy of 30 years of great interest rate moderation, in which only cheap money adds to banks' top and bottom lines, or due to the Fed making sure the same banks never suffer a dollar loss when central planning fails, such as it does increasingly often lately (and forget about 10(b)-5 violation charges coming from the corrupt regulators: after all they are all in bed together). That Morgan Stanley, Dexia and Citi are, and have been since 2008, dead men walking, is by now known to all financially literate readers: additional confirmation can be found in the Bloomberg article, which we won't paraphrase because it has all been said over and over. That said, Bloomberg has done a great visual interactive chart summary of who got what, when, how much, over peak and average metrics and so forth. We urge readers to play around with it (don't worry, it won't break the banks; and if it does the Fed will secretly bail them out again) and every time they consider putting money into our "solvent" financial system.
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Shockwaves, bitchez!
As I have posted over and over on ZH; The Feds first mission is to protect the money of the ultra-wealthy banking families.
The Fed was created by and is still part of the private banking system. And it should be obvious by fact that they bailed out
the banks in 2008 and did nothing to help the homeowners, that their mandate is to preserve the wealth of the wealthy.
Flash news update; I short the US Treasury Bond Contract now at 140-04; basis Sept. on the CME. More follows. This market is absurdly over-bought, and I intuit that it is "breaking". Stop loss at 141-16.
I predict you will be stopped out by Tuesday. The market is breaking but not that market...
Oh noes!...Krugmaaannn!!!
"NEW YORK -- The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.
The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and tax increases. The remaining 7 percent believe it should be done only or mostly through tax increases."
http://www.huffingtonpost.com/2011/08/22/taxes-cuts-economists_n_932697.html
Ummm excuse me....but why the F#$@ is Benny sending US taxpayer money to foreigners?
So we can spend it all on our paid 7 weeks of vacations and hopefully for you guys some of it in the US.
It's called the drip down effect.
Oh! So that is what a golden shower is. I get pissed on and am supposed to feel wealthy. Nice...
Not foreigners, Fed. Reserve members.
"Professional economists"--who do these people serve again? And yet, even with that being the case, only a very slim majority (56%) support what would seem to be your position, nmewn.
Funny we don't hear a word about this alternative budget plan: http://www.huffingtonpost.com/jeffrey-sachs/the-peoples-budget_b_846573....
The economists will talk the book of the last financial firm that funded a chair at their institute of "higher learning".
A 19 point spread is not anything I would term as "only a very slim majority", Bob ;-)
The closest minority in this poll want equal parts cuts & tax increases. We have a budget deficit of >>>1.5 trillion<<< Benny bucks. Do you have any idea what an "equal parts" tax increase of 750 billion Benny bucks would do to this O-conomy?
Exactly.
The bottom minority are clearly moonbats and deserve no comment at all.
Yeah and not one of those clueless economist (all of them that took part in that asinine survey concluding nothing) thought....hey...how about noticing it's all fraud and cancelling it?
Oh yeah. Because the answer isn't to....
CUT
PRINT
TAX
FOR FRAUD????
Thus entire question is bogus that the economists answered and served no purpose whatsoever.
Only fucking idiots want to cut spending for fraud.
Only fucking idiots want to tax for fraud.
Only fucking idiots want to print for fraud.
I think that pretty much covers all the economists in that survey of nothing.
Glass-Steagall, because the printers, taxers, and cutters are the batshit crazy ones. THEY are the ones holding everybody hostage.
Hostage for what? Oh yeah, fraudulent debt.
Okay, misspoken. Barely more than half. The seeming full range of options provided the economists lacked substance altogether and ignored others as if they did not exist. Wall Street prosecutions and appropriate claw backs, for instance, or breaking up the insolvent TBTF's or quickly dropping the wars. For a simple-minded poll, it was appropriate for professional economists, I guess. At least from what I see of them on Teevee, though when I was in school I met none who thought in such simple terms.
But then they didn't write the question and forced choices, did they? Sounds like an undergrad student to me.
Moonbats--funny! That was simple.
Oh, yeah--you don't like taxes! ;>)
I love Ron Paul's idea : He says that since over 1 trillion of the debt is from the FED "lending" us printed fiat and is worthless, then we really owe NOTHING, and should strike that from the books!
RON PAUL 2012
Odious debt. They did NOT have my permission; in fact, they have my protestations in writing.
I say we burn the debt and hang Greenspan. Nuremberg trials anyone?
WOOT WOOT! Arrows are back!
Zorba. no disagreement, but are you sure these villains are capable of such a vast conspiracy? Frankly, I find them gross incompetents.
Such large scale sections of US society, isolated from what is going on in reality. That's our problem.
Thank God Libyan rebels captured the country before USA/NATO thugs did.
Er... I think US/NATO thugs are still (and will remain) there... the rebels are simply instruments.
Dood, you've been posting on ZH for like 12 weeks...LOL
Hmmmm....Agent Provocateur working on cred?
Remember, as twisted as Chairsatan Bernank is, there are some even sicker bankster puppies out there...
True Dat, there is no other economy big enough for them to hide into. May the Hell host them well.
"In The Law, Bastiat explains that if the privileged classes use the government for "legalized plunder" this will encourage the lower classes to revolt or use socialist "legalized plunder" and that the correct response to both the socialists and the corporatists is to cease all "legalized plunder". Bastiat also explains why his position is that the law cannot defend life, liberty and property if it promotes socialist policies. When used to obtain "legalized plunder" for any group, he says, the law is perverted and turned against the thing it is supposed to defend.[8]"
http://en.wikipedia.org/wiki/Fr%C3%A9d%C3%A9ric_Bastia
Per William Black...
http://www.youtube.com/watch?v=pdWo9Ob2DHc
RAGE bitchez! The roof, the roof, the roof is on fire...
Start a fire: http://www.youtube.com/watch?v=X_hqLmxvpiI
Hmmm.....what shockwaves? I just looked at bloomberg.com and it shows dax down 100% to 0. Interesting!
Is DAX still alive? http://inkom.com.au/sites/default/files/what%20happened%20to%20dax.jpg
Took me a while to find it, but it's there......Harley Davidson. That's right, Harley Davidson.
Good thing too, because if anyone is TBTF it's....(wait for it)......Harley Davidson.
Looking at this list makes you realize how hard the fall is going to be. EVERYBODY is sucking from the teat of the FED!!!!
Yeah, even National Bank of Saigon got $10mil. Byegones!!
Where are the share holder lawsuits ?
Where are the share holders? Wall Street/U.S. stocks are symbols and instruments of U.S. Empire; most U.S. citizens own no stocks, consequently the U.S. stock market is pumped up, not just for the sake of banksters, but for the maintenaince of U.S. Empire overall, orchestrated by the elite behind Wall Street and Pentagun, with full and obvious buy-in from all its high level henchmen and beneficiaries.
Hence no lawsiuts. Only more bank directed stimulus to come, which btw isn't Keynesian, but fascist.
Keynes is a fascist. A big flaming fascist
No wonder it took a FOIA request to get!Theivo-matic in action!!
Americans are to, too fucking stupid to care and or do anything about it... AGAIN!
Amerikans are stupid because they watch and believe TeeVee, believe their useful idiot politicians are the real leaders in charge, eat GMO Franken-food that ravages their brains and bodies and take psycho-drugs and vaccines from Merck, Pfizer et al...
And as a result... buy the "Amerikan Dream" hook, line and sinker...
How could they not be fucking stupid???
American #92,357,544 checking in. I agree with your assessment.
Alan Greenspan: No agency of government can overrule actions the Federal Reserve takes. We do what we want, nothing else matters.
In other words, the Federal Reserve System is a government onto itself. No more 'Federal' than Federal Express, as they say.
http://www.youtube.com/watch?v=3QkmLnNEvdU
That is right. Our gov reps decided that they did not want the responsibility. Must have been too complicated. Look at that shit stain Pete Stark. He said the more debt we have the wealthier we are. WTF?
http://www.youtube.com/watch?v=UjbPZAMked0
These are the squirt sticks Americans have chosen to represent them.
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
Alan Greenspan
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
Milton Friedman
In international law, odious debt is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts signed under coercion.
http://en.wikipedia.org/wiki/Odious_debt
When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime. The reason why these odious debts cannot attach to the territory of the state is that they do not fulfill one of the conditions determining the lawfulness of State debts, namely that State debts must be incurred, and the proceeds used, for the needs and in the interests of the State. Odious debts, contracted and utilized for purposes which, to the lenders' knowledge, are contrary to the needs and the interests of the nation, are not binding on the nation – when it succeeds in overthrowing the government that contracted them – unless the debt is within the limits of real advantages that these debts might have afforded. The lenders have committed a hostile act against the people, they cannot expect a nation which has freed itself of a despotic regime to assume these odious debts, which are the personal debts of the ruler.
http://www.youtube.com/watch?v=YOCzc4xyBao&feature=feedu_feedf
Federal Reserve Secretly Gave $1.2 Trillion In Taxpayer Funds To The Banks That Caused Crisis
Reality is net net the US of A benefited from this arrangement but divvy of the loot was not even. Hence all the teeth gnashing.
I was speaking to some guy at work about the economy a while ago: he said he didn't want to think about that kind of stuff.
lol, whatever. I hope this depression is a very painful one. These dumb masses will not learn otherwise.
That sums it up perfectly Incubus. People do it to themselves. It is not some grand conspiracy, but willful self deception. Just too difficult to think that maybe the real problem is staring back from the mirror.
So, we get bread, circus, and blowing up all the brown people who are sitting on top of our oil. All the while eating hot dogs, drinking beer, and flag waving that we are the light of the world. I actually have no problem with people aciting like that, but don't start down the "land of the free" road. It is an empire, plain and simple. Love it or hate it, no difference, but at least admit it.
pods
"Congress required the disclosure after the Fed rejected requests in 2008 from the late Bloomberg News reporter Mark Pittman and other media companies that sought details of its loans under the Freedom of Information Act."
Other media companies? Why is Bloomy so coy?
some more scary in-line shit: obummer pressures Attorney General of N.Y. on Bank Foreclosure Deal:
http://www.nytimes.com/2011/08/22/business/schneiderman-is-said-to-face-...
Thanks for the update!
WTF can be said about that?
No more talk about legal, illegal. Merely defensible or not. Sheesh, if that is the requirement we are doomed.
"But honey, I had to sleep with her, she was drunk and was going to sleep with someone. I was way nicer than those other guys and didnt want her to get hurt. So it was best if I did it."
Funny oxymoron too. A FED rep who represents the public. ROFLMAO!
pods
I can't remember the last time I saw so much bullshit packed into a single sentence! Unreal. Or, should I say, too fucking real.
http://lordschmutz.wordpress.com/2011/08/21/ponzi-scheme/
Obama is heard up at Martha's saying, "so what does this mean, where is the money now" because what the fuck does he know about the financial system apart from the fact that he gets his campaign money from there!
Why does Bloomberg say this shovelling of taxpayer money to the banks was to avoid a "depression"?
Call it what it was/is, a cover up of massive theft by the banks .. of the American peoples past and future savings and earnings! Which has now enslaved millions, and destroyed their futures!
What are you talking about? Citi delivered an 8 billion dollar profit to the American Tax Payers. We should be lending a hell of lot more to the banks than to the Fed Gov with returns like that.
They borrow the strong dollar and return a weak dollar and that would be concidered a profit?
What kind of return are you getting on all the trillions you are lending to the gov? None. You just get to commit your future income and your children's future income to pay it back. I suppose those will be weaker dollars as wll though.
When poeple saying goverment spents a lot... i agree, but most of the goverment spending are private contracts for private corporations.
So when we argue to stop goverment wasting, we are saying at the same time stop giving money to corporations , since all those dollars do end up in their pockets. Catch 22.
But, but ... 'corporations are People, my friend'.
Don't tell us about this meaning crap. Tell us what Citi produced, like in food clothing, shelter, transportation, energy & health care. Citi is a bunch of useless assholes. Paper money don't produce shit. The economy isn't about paper money, it's about stuff. Wise up.
They delivered $8B to the government to squander, which Citi TOOK from the American people thru financial shenanigans. Would you like to reconsider your position?
Wall Street & The Federal Reserve Bank:
Thick as thieves, like white on rice, more cancerous than absestos filter cigarettes, bitches.
Give Wall Street more tax dollars, Bernank & Geithner! Do it!
Why the surprise and indignation? Wasn't the Fed created in the first place to do exactly as it has done, layoff the bad deals the bankers make onto the tax payers? C'mon. Greenspan & Benny, as well as all the other Fed governors, did exactly as they were supposed to do.
"I killed the Bank."
-- Andrew Jackson
WE all knew this was going on. Here on ZH we suspected and discussed it abundantly. Nobody with a brain believes rabbits could be pulled out of a hat. Now here's the less well-known secret bailout: Trillions were doled out to corporate America to allow them to roll debt, cover payrolls and operating expenses. It took a long time for things to unfreeze, but they kept "stimulating" private corporations with welfare long after so that they could issue more debt and more stock. That's the source of all that "cash on the balance sheet" that won't get invested (no fools, they). And the irony of it all? Coroporate America is as leveraged now as before the crisis in 2008. Smart, I tell ya, Smart!!
Must be that "invisible hand" we hear so much about. Now if only government will get out of the way (now that it can supply no more free money) and let the job creatin' commence!
Caviar Emptor
Agreed. TD and ZH have discussed this Fed criminality from the beginning. It is the only reason the Fed fought so hard to keep it from going public; finally trying to bury it under 29,000 pages.
The Fed exists under U.S. law to protect the wealth of U.S. and Foreign banksters. Period.
BONUSES ALL AROUND, GENTLEMEN. BONUSES ALL AROUND !
I am glad Tyler thought this article was important enough to post. When I read it I had to let you guys know also. Zero Hedge does not miss much. Gold up 19 dollars and futures flat. Might be an interesting day.
Good Night, see ya manana.
Gold is now the world's defacto reserve currency. The behavior of Gold/Equities, is behaving in the complete opposite fashion of 2008. The next crisis is the dollar reserve currency crisis, as predicted by Ron Paul, The Mises Institute and Zero Hedge for years.
Every American must prepare for an immediate hit to their standard of living of somewhere between 30-50%. Nothing can stop what is coming. Some will be better prepared than others.
Cool. Who gets it first? (In your view of course.)
Anyone over-invested in real estate has already "gotten it". Anyone over-invested in stocks will "get it" by year's end.
As a reminder, "denominated in $1 bills, the $1.2 trillion would fill 539 Olympic-size swimming pools."
Visualize this, 12 bills "denominated in $100 billion dollar bills, fits nicely in my wallet."
Or with the 100 trillion note like Zimbabwe's you get change back. Don't you just hate these sensationalized statistics? I mean with $100 bills you can't even fill a measly six Olympic-sized swimming pools which seems WAY less don't you think???
Now with Sarc/off the number do get fuzzy. BAC received 91 billion in loans but a potential 20 billion legal hit is making them insolvent? I know that it's different columns involved and the columns are all important but if you add in all the fabricated valuations and slights-of-hand it take s a magician like Tyler to sniff out the truth.
One word: Accountablility.
1.2 trillion for the banks . Just an honest days work.
kept the lights and computors working , and those ATMs stuffed with cash.
why did some of the great bank heist happen. as the gangsters would say.. thats where all the money is .
This should be all over the news right now but it isn't.
Who needs congress anymore? Not that they wouldn't have approved this. But the Fed would just give money to the banks on its own anyway with no oversight?
Disgusting and expected.
Our community organizer is working on Plan B... scary...
It's going to look a lot like Plan A
Some1 explain to me please, what happenes to the money of those failed banks, Like Lehman, Bern, Countrywide and so on...
I see them on the chart they borrow billings, did they return it? As i understood per bloomberg article the colatteral was a junk rated. After they fall did they pay back?
The money was created out of thin air. When the institution dies the money goes to money heaven. It is called a shrinking money supply or aka deflation.
Free money! haters gona hate!
The only thing more valuable than gold is your mind. Protect it with all you've got...dont let it slip into greed & fear.
If Wall St & European bankers and politicians learn this important lesson, they'll have some peace of mind on their death beds.
some where i read that the fed injected enough cash into the system .. trillions 25 trillions . that each family in america could have recieved 250,000 .. enough to pay off the homes , credit cards .. and kept the cash flowing through the banks..
a land flowing with milk and honey,, the next 25 trillion will be injected into familys .. obama will rise to the new reality, a bank account in every garage . a windfall for the american dream.
social security a 25% increase just like nixon.. the votes will be bought on the backs of the next generation .
I don't know if it was actually 25 trillion in cash but it was enough to offset the destroyed dollars that were no longer in the money supply or in the shadow banking system. The reason the fed injected the money was to prevent a deflationary death spiral and they will do it again.
I guess all those skanks wanted some funny money.
Well then, I guess its not a secret anymore. National enquirer Bitchezzzzzzzzzzzzzz
Damn it's good to be a banksta!
The Bernank, The Jeetner & the ObaMao make this pledge first thing in the morning and last thing before bed, each and every day.
Hope this line of thinking helps you disassociate yourself from the shenenigans of the past 40 years.
So, does this mean no QE3?
"Come on man, just one more time and I'll be able get my shit together. I just need this one last time...come on, please..."
hmmmm rothschild isnt on there.....
No Barclays on the list? The Rotheschildes may be fighting a losing battle, betting the farm on carbon credits and all. Their time may be up; it was a good run for a bunch of inbreds.
...a ''lie''!
A LIE!
...really, a lie? Man, that is pure evil. Trillion freaking fiat Chairsatan EEeeevil.
...so what are you going to do about it? http://www.youtube.com/watch?v=dh6oEO5eHMw&feature=related
So what I'd like to know is how, under GAAP, a bank would keep this a secret on their quarterly report? E.g., wouldn't the receiving entity have to show a major CASH infusion (Assets +) and a liability for the loan?
And if they didn't report it, was it because it was between quarters (certainly not in every case) or was there false reporting with the SEC's blessing in order to keep banking confidence?
How about $ doled out via the IMF from the US during this period?
And how did this reflect on the Fed's balance sheet?
Hmmmm...
Now that's a real piece of investigative financial journalism if I ever saw one. Gives me some hope about journalism in general.
I think back to 2008 and all the angst caused by Bear Stearns, Lehman, and the political theatre of the TARP bailout. In hindsight it was nothing compared to this. The Bernank was pulling levers behind the curtain with zero oversight, a true financial puppet master "saving the world".
QE1, QE2, QE3? who cares, it's nothing. It's the stuff going on now with no transparency at all you don't know about, and won't find out about it for 3 years, that will bring the system down.
Time to end the Fed. Before they end us.
the fed's just a front orginization, anyway.
"the $1.2 trillion would fill 539 Olympic-size swimming pools"
EDIT: the $1.2 trillion {bought} 539 Olympic-size swimming pools {in the Hamptons}
I write this because I saw some shortish, bearded and balding guy sunning himself next to Lloyd's Lake Sunday afternoon. The pool boy tells me the man was drinking heavily (Wild Turkey and Karl Strauss, who would have known?) and Mrs. Blankfein was miffed because baldy (the bearded one, not the Jared Lee Loughner look-alike) was ignoring her puerile advances. "Doesn't he know who I AM?", she was shouting, while the man kept blathering, "I don't like mootchski's, bitch" (Google Yiddish translation: those fat blobs at the bottom of the buttocks that get squished into the public domain by a too-tight bathing suit). Apparently the entire scene was particularly disconcerting, and there was talk that many of the staff were going to pull their applications for Green Cards and just go home. The Law of Unintended Consequences, indeed.
Ben Dandy Bernanke is leaking his next move, via the WSJ, that he will buy foreign bonds to "help" Europe.
"according to people familiar with the matter."
"said the people familiar with the matter say"
"said a senior executive at a major European bank who has participated in the talks"
"a senior bank executive said"
http://online.wsj.com/article/SB1000...LEFTTopStories
From the article:
"Until recently, that hasn't been a problem. Thanks partly to the Federal Reserve's so-called quantitative-easing program, huge amounts of dollars have been sloshing around the financial system, and much of it has landed at international banks, according to weekly Fed reports on bank balance sheets.
This spring, foreign banks were able to build up ample cash cushions, thanks largely to quantitative easing
The latest Fed data "could be telltale signs that foreign banks are in need of dollars again"
So the foreign banks just "park" those worthless Italian and Greek bonds with the Fed, and Ben loans them money at face value.
It doesn't need congressional approval since Ben doesn't mark to market.
The stock market will rally and treasuries and gold will fall due to the fear premium diminishing.
But the Dollar will also fall causing food and gas prices to SOAR.
Too bad that it only helps the top 10% since they own 80% of stocks and spend on average 2% of their income on food and energy.
We the bottom 90%, will see our food and energy cost as a percentage of income go from 15% to 25%
I think Bernanke will have to wait for Europe to implode and the stock markets to go down further before we the sheeple allow him to buy Italian bonds "to save the economy" just like we allowed the first bailout.
Sounds more like a bunch of folks in ny hinting that the fed better bail out their euro bets or else.
Ben Bernanke & Timothy Geithner - 2 reasons republicans are wrong about planned parenthood / abortion.
As if multi-culti or abortion applies to it's primary promoters -- Jewry.
"as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. "
Remember the Banks would not have needed all this money if Americans would have just paid their bills. So whose fault is it anyway?
and some people wonder if they are going to print their way out of this mess. of course they are. if you were smart you would start rioting. that should be enough for the fed and .gov to send every usa occupant at least 5000 dollars and maybe more if you act really scary.
Hey bankers..... see what happens when you think you can build a Great Socialist/Society? Without ever using logic! Now what genius'?
Not socialism. Just another Austrian "animal spirits" feast by the "job creators".
Hey Barama!
Let's talk about that brink you saved us from...
His answer? This is a completely different brink. This is a Tea Party Terrorist brink. Don't hold your breath while you're waiting for a narcissist to admit a mistake.
...one point two trillion, secret. That's a lot of labor yet to work. lol
http://www.youtube.com/watch?v=jTcTHNJH0Yw
Suckers... and just you wait for what comes next.... lmao
but nooooo, Chavez is a dictator, you are the good guys, "our" empire is not evil... we are not evil...
ha
zombie land here you come!!
Angry Preacher,
We know, we know. Calm down and sip on some Maker's Mark. You do like Maker's Mark, don't you?
From the bloomberg article:
From some conspiracy minded, tin-foil hat Congress person in 1932:
The problem with that argument today is that the dollar is not gold backed. Look at the recent Eric Sprott article, the greatest trade ever. The US has traded 8 trillion green bits of paper for real stuff over the last 40 years since we went off of the gold standard.
Think of it like this the rising tide of all fiat bits of paper raised all boats, just as they have in China. China and the US as well as the rest of the fiat world have all had increased standards of living operating on this fiat system.
The fiat system is just some rules made up by men, Bretton Woods 2. Rules always can and will be changed to benefit those in power.
What we need and it is the only solution to the current crisis is writing off the bad debt. One of the key ways to do this is through large scale debt forgiveness. The sooner everyone has reduced debt loads, including governments, corporations, banks and individuals we can and will recover. The problem is politics and who will bear the losses right now. But we should just legislate accross the board haircuts, say every person and entity gets an immediate 50% in debt reduction including the governments. So what if some bond holders lose and China loses, but realitively all things being equall they aren't out much and we can all get back to the game of making profits and hopefully better decisions. I think the Chinese would be willing to write down the dollar reserves by 50% if it meant Americans started buying Chinese goods again hand over fist. China loses reserves but keeps its masses working, which lessens the chances for revolt.
Essentially what I am saying is we need an orderly reset of all of this unsustaninable debt and the world governements need to get together to acomplish all of this. Think of it as world financial mulligan(TR).
With all of this info why aren't senators in jail? Aren't they the ones who approved TARP and "secret tarp" in the first place? Why is BB giving my money to bankstas in Europe? Just imagine if we had invested those trillions into some worthwhile projects - like an energy policy, repairing infrastructure, etc.
In Weimar Germany life went on as the mark collapsed. Nobody revolted because it wouldn't do any good. Just figure out how to trade currency for goods fast as possible before it loses more value.
Inflation was 1000% per week late in the crisis. Life went on. Nobody revolted. Because it woudn't do any good. People just dealt with it.
That's how it will be here in America when the US dollar loses WRC status. Inflation will be calculated by the week, not the year. And life will go on. Nobody will revolt. People will just deal with it best they can.
This is what a the Koch world is all about. No regs, cheap money, and bailouts for the chosen.
Your post is a gently dusting of down syndrome on my eyes.
Congrats on your PuffHost brainwashing...after-all this "Koch World" has been in power for the last 20 years....or is it a minority within a minority for 7 months, i can't quite comprehend which? Don't you agree, idiot?
And for all those keeping track at home: the combined borrowings of the supposedly insolvent and implosion-ready Canadian banking system: under $25B counting all peak borrowings together. What could the average borrowing have been? A few Billion? Thanks.
As of 2009, the CMHC had securitized $300 billion worth of mortgages. So critical is this function that Ottawa relied on the agency to prop up the country’s big banks during the financial crisis, giving the CMHC permission to buy $66 billion worth of mortgages.
http://www2.macleans.ca/2011/03/23/a-mortgage-monster/
Here's Jim Rogers calling Ben Bernanke a boob:
http://www.geraldcelente.proboards.com/index.cgi?board=other&action=display&thread=1707
It's good stuff.
Enjoy.
TROLL
McDonalds Corp?
HMMM...WTF??!!
"Mark Lake, a spokesman for New York-based Morgan Stanley, said the crisis caused the industry to “fundamentally re- evaluate” the way it manages its cash.
“We have taken the lessons we learned from that period and applied them to our liquidity-management program to protect both our franchise and our clients going forward,” Lake said. He declined to say what changes the bank had made."
Yeah, but when it invariably blows up in their faces again they come to us hat in hand for another round of bailouts. Why do those fuckers continue to get to make the rules of the game? Despite the fact they have abused public trust on every single occasion? Bloody vampires who are sucking our society dry.
Boiled rope will be a valued commodity sooner than those fucks think. Maybe they can create a derivative around that and make a killing (literally).
Perry should have said, 'The Federal Reserve is a treasonist enterprise', not the whole printing thing. They don't print monie, either. They print currencie. It makes for a good double standard, the Fed printing 'Monie' and all.
but it all spends the same way, no?
Currency=Credit=Cash=Reserves=Debt. It all involves similar counterparty risk. Only been studying this stuff for around two years... Welcome the education :)
On an island economy, you could trade goods for barter and trade, or you could use a means of exachange- puka shells have had their place in history. Once off the island certain items have premium: precious metals are that asset.
Despite what the Federal Reserve wants, they can not print monie- monie only comes from stars. This finite thing, gold, lasts forever, and stores its wealth. It is fungible, and can trade for items specifically.
Trade is a matter of opinion, for what one wants at any specific time can vary, and since we are only human, a wanted good can be anything, for we know are limitations. A poet, for example, may be able to create, or rather, grasp, ideas and serve them for a priceless penny. Goods and services may be attained out of thin air in this instance, but for other forms of trade, a means of exchange is needed.
The ultimate means of exchange is that that stores wealth, and try as he might, the alchemist Bernanke will never create something out of nothing.
Citi Upgrade Gold Today
http://www.scribd.com/doc/62800646/CITI-GOLD
Gold $1894
$1,900 by morning. Come on, Europa!
What about Europa? There's seas of fiat underneath that surface of ice?
Can you imagine carrying gold dust in a bag to pay for groceries?
I can imagine giving my butcher a silver coin for a summers worth of meats.
This premeditated crime of misuse and theft of public monies held in trust by the FED and Wall Street conspirators deserves indictments and charges to be laid as well as a full public accounting and disclosure of all nefarious activities that took place.
The main problem being that the US government Congress and White House and administration officials along with the DOJ and many other alphebet departments were in on the heist and theft of the public's money and trust. One could also believe that based on no indictments as of yet being rendered, that the President of the United States was also a party to this thievery and looting of the people's money. The only way that any charges and or reperations can take place is by the public demanding by massive revolt actions against, being taken. All hell has broken loose, and all justice is being denied. The end of the FED is now!
This premeditated crime of misuse and theft of public monies ...
Do you refer to the monies lent by the Fed as documented by the Bloomberg article? You do know that the article said most/all of these lent monies have been paid back, right?? I don't suppose that makes any difference, tho - right??
If you buy that....I have an investment opportunity I'd like to offer you....
Could someone send this to Roubini pls? He was doing my frickin head in yest with his 'I heart Fed' comments on Twitter...
as a reminder, the $1 trillion in bits and bytes would fit a small ipod shuffle...
This is the global Oligarchy in all its ephemeral splendour!
And it continued with QE-2 and it'll continue with ECB/FED play in coming months. No way that there will be a liquidity crunch.
At least 1929 taught Ben that lesson. Print away land of fiat dreams.
Amazing. So that's what a 21st century tulip mania in the USD loooks like. Glad they waited until Biden got back from China before publishing that, they might have pulled out his plugs.
Greenspan was right, we can always print money. But, you can't be the worlds reserve currency and do that, sorry. Never mind the criminal implications. Big confiscations through devaluation of the USD will not be avoided. Time for a gold standard. This is the sort of thing that will make it easier to nationalize and bust up the big banks.
Haircut, bitchez.
Silver $44!!
Before the markets open, let's sing the Ben Bernanke Song:
http://www.geraldcelente.proboards.com/index.cgi?board=music&action=display&thread=320
God bless, brothers and sisters.
It WILL get better.
But what the fuck do I know?
TROLL
I wonder what impact that has on the Fed's ability to launch QE3, Operation Twist, or whatever other program.
Think about it, if they've already spent 1.2 Trillion more than they've previously admitted to, that's gotta have a big impact in the defeciet, budget and ability to provide more liquidity.
I'm a bit confused, how does this relate to the recent GAO audit? This corruption sickens me!
That's alot of companies and hence, alot of employee's who would know about this. Are there really none of them pissed off enough about sucking up the taxpayers money to speak up about this- even anonymously? Are there no subversives left? Jeezuz.
Hearing that Fed will openly allow for the US Dollar to devalue as long as it gets the economy growing and re-target inflation at 4 %. When a depression is staring you in face shock and awe measures need to take place. The real solution out of the Great Depression was that prices were inflated 1000% from 1935 to 1955.
Hearing that Fed will openly allow for the US Dollar to devalue as long as it gets the economy growing and re-target inflation at 4 %. When a depression is staring you in face shock and awe measures need to take place. The real solution out of the Great Depression was that prices were inflated 1000% from 1935 to 1955.
Slowly the fraud comes out. Just how much money was printed. Was it 1.4trillion or 104trillion. I'm sure the public will never find out. Physical dollars with serial numbers, so everyone can keep tabs, and untracible digital dollars printed bby the trillion. Kind of like money laundering at its best. Bernake's idea is that he can hide hyperinlation by not printing physical dollars that the masses can actually track or use.
Only 300biliom physical dollars are available for the masses, but digital dollars printed by the trillion for "friends".
As long as the people allow it then it will continue. For now the people are more interested in gay marriage and Jersey Shore. For now.
It is surely outrageous, but hardly shocking at all.
This activity is the FED's first purpose, namely to protect the largest banks.
Read "The Creature from Jekyll Island" and it all makes perfect (and perverted) sense.
The FED actually believes that it can "target" infllation at 4%. It wishes it could, "control" inflation by raising asset prices while keeping consumer prices subdued.
Those consumer prices are things that a growing % of 7 billion people use on a daily basis such as food and energy. This is not 1935 to 1955 where American consumption of food and energy still had room to extrapolate growth globally on the supply side. Now that China and the rest of Asia has been included in the economic model for the latest short sighted extrapolation, there is no place left to extrapolate. A little American consumption spread out over several billion people can easily eclipse global production.
Biggest problem is that the FED is doing the "digital dollar dance" right now. Who are they printing for today. Will we find out 2 years from now that the FED printed 5trillion on this very day. I'll keep track of this date for a year or 2 to find out who won today's lottery.
Nice to see that the Arab Banking Corp was sucking on Benny boy's tittie. I guess their Islamic principles had no problem borrowing money since it was "free". Or does the Fudd have special lending mechanisms involving aluminium ingots for such instances?
Any chance of one of the Durdens digging up dirt on such possibility? Could be a rich vein of systemic hypocricy there..
/disbelief