http://www.msnbc.msn.com/id/27905756
I don't even know where to begin. It almost seems unreal. $800 billion dollars! Wow!
I don't even know where to begin. It almost seems unreal. $800 billion dollars! Wow!
The new $800 billion dollar bailout
- Thread starter Makalakumu
- Start date
Well what will the dollar be worth now on the open market? 800 Billion cannot even believe this when I saw it.
OP
- Thread Starter
- #3
This seems so rotten to me. There's something going on here under the surface that we are not being told about.
The Federal Reserve created this 800 billion from nothing. This is new money that will be used to do what the Treasury said the last bailout would do. Except that this time, they didn't go to congress in order to get it done. They just used the power of the printing press and willed the money into existence.
Which begs the questions, why did they go to congress in the first place last month? Why was the first bailout such a media circus and why is this one so quiet?
I think we're ****ed. The dollar is going to crash and we are going to have a world of **** on our doorsteps when it comes to inflation. Do the banks already know and is this their way of raping and pillaging America as it spirals on down?
The Federal Reserve created this 800 billion from nothing. This is new money that will be used to do what the Treasury said the last bailout would do. Except that this time, they didn't go to congress in order to get it done. They just used the power of the printing press and willed the money into existence.
Which begs the questions, why did they go to congress in the first place last month? Why was the first bailout such a media circus and why is this one so quiet?
I think we're ****ed. The dollar is going to crash and we are going to have a world of **** on our doorsteps when it comes to inflation. Do the banks already know and is this their way of raping and pillaging America as it spirals on down?
Certain phrases come to mind...
Give an inch, take a mile....
In for a pound out for a dollar or something like that...
Looking a gift horse in the mouth... (maybe not quite right but since WE tax payers actually didn't hue and cry that much about it... )
I saw this and just was ... well... :idunno: I don't honestly know if I had even voted for EITHER party if it would've made any difference.
I'm gonna hunker down and hope and pray that we don't totally wipe ourselves out.
Give an inch, take a mile....
In for a pound out for a dollar or something like that...
Looking a gift horse in the mouth... (maybe not quite right but since WE tax payers actually didn't hue and cry that much about it... )
I saw this and just was ... well... :idunno: I don't honestly know if I had even voted for EITHER party if it would've made any difference.
I'm gonna hunker down and hope and pray that we don't totally wipe ourselves out.
Correct, Mauna. Well, probably.
It's even worse than you know because what has not been widely publicised is that a great deal of the 'refinancing' of American fiscal il-liquidity (made-up-word) has been done out of European (mostly British) pockets.
This means that what must be repaid at some point is even greater than you think ...
Is it just coincidence that the BBC has started broadcasting a new re-telling of the "Survivors" series? :lol:
http://www.bbc.co.uk/survivors/
The original, which in part sparked me on my youthful quest to learn how to live without the things that modern society coddled me with:
http://www.survivorstvseries.com/index2.htm
Seriously, this is a huge {expletives deleted} waiting to happen. I described it to my missus earlier this evening as a ballon with a pinprick leak that has partially deflated. Someone sticks a plaster over the leak and pumps up the balloon as much as they can. Anyone care to guess as to the outcome?
It's even worse than you know because what has not been widely publicised is that a great deal of the 'refinancing' of American fiscal il-liquidity (made-up-word) has been done out of European (mostly British) pockets.
This means that what must be repaid at some point is even greater than you think ...
Is it just coincidence that the BBC has started broadcasting a new re-telling of the "Survivors" series? :lol:
http://www.bbc.co.uk/survivors/
The original, which in part sparked me on my youthful quest to learn how to live without the things that modern society coddled me with:
http://www.survivorstvseries.com/index2.htm
Seriously, this is a huge {expletives deleted} waiting to happen. I described it to my missus earlier this evening as a ballon with a pinprick leak that has partially deflated. Someone sticks a plaster over the leak and pumps up the balloon as much as they can. Anyone care to guess as to the outcome?
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At the risk of annoying our European friends, I have to admit to not being too worried about repaying them too fast. Britain didn't finish repaying it's WW2 debt to the US and Canada until December 2006, 60+ years after the war ended. WW1 debts to the US have never been repaid. Mind you, the UK still maintains bonds issued to pay for the Napoleonic wars and before.
Other nations in Europe still owe significant amounts to the US for providing arms, equipment, armaments, and other supplies during both World Wars.
So, I don't worry about it. You owe us, we owe you, and life goes on.
As to the Federal Reserve printing up billions of extra worthless money, that's what they do. It's backed by nothing, it's worth nothing more than what you say it is. The FR is a privte company, they can do what they want.
Other nations in Europe still owe significant amounts to the US for providing arms, equipment, armaments, and other supplies during both World Wars.
So, I don't worry about it. You owe us, we owe you, and life goes on.
As to the Federal Reserve printing up billions of extra worthless money, that's what they do. It's backed by nothing, it's worth nothing more than what you say it is. The FR is a privte company, they can do what they want.
I think you missed my point, Cap'n.
Probably. I'm a bit addled today. 
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We've been preparing to make ready to standby to wait to hunker for some time.
Kind of waiting for some of you totally wipe themselves out.
OP
- Thread Starter
- #10
This is really the only thing that the average American can do. Congress has no oversight powers when it comes to actions in the Fed. The Chairman reports, but there is no control. That said, we pretty much get to hold on and hope the wheels don't fall off.
Here's what is troubling me. The money is going to be used to buy up these exotic assets that were attached to the sub-prime mortgage debts that started going bad. These assets are part of a pool of derivatives that total one quadrillion dollars. That is a 1 x 10^15 dollars. The banks created this mess through leverage. Now, they are so overleveraged that they are beginning to experience illiquidity...running out of "real" cash.
What is going to happen when the US government owns this mess?
Further, when the Federal Reserve, through the actions of Treasury Secretary Hank Paulson (who is the former CEO of Goldman Sachs) starts buying up these "troubled assets" in order to "fix the crisis" I not only smell a conflict of interest, I'm seeing what basically amounts to the biggest rip off in the history of the world.
I'm starting to think that the initial "$700 billion" was just a red herring. The Fed could have printed that money up at any time. The "real" reason that bill was passed was so that the Treasury Secretary could buy up all of this bad debt and stick the taxpayer with the responsibility for the leverage.
700 billion got everyone screaming and they totally missed the unprecedented powers that were handed to our Treasury Secretary...
Bingo.
Why do shepards bang sheep on cliff edges?
So the sheep push back.
The American Sheep however is currently being banged on a large open plain, and is complacently going along for the ride. When they finally wake up to the fact that they're being raped, they'll be in an oven, with an apple in their mouth, all dressed for the wolves dinner.
I don't know about y'all but I'm rubbing mint jelly on my *** in preparation.
Baaaaaah.
Gordon Nore
Senior Master
:barf: I will not sleep tonight.
OP
- Thread Starter
- #13
I don't know what people are going to do when they wake up and realize that they are grabbing their ankles on this one. This derivative mess would have wiped out the banks who created it. It didn't matter how big you were, this was one humongous epic fail.
Now the taxpayer are buying it.
And we were all fooled here on MT. Look at the threads talking about the "bailout". What were we focused on? No one made the connection, until now, that the US was buying up what amounted to financial armegeddon. I think I posted a video where Ron Paul was talking about this, but at the time, I didn't know what a derivative was? Now, after reading a book and doing some digging, I can only shake my head.
Not like I could have done anything about it at the time, but MY GOD, people we need to wake up and start writing letters to our representatives, calling them, emailing them, organize...something! This is a mess that could wipe out the federal government.
Look at this figure again.
$1,000,000,000,000,000
With one quadrillion dollars, you could buy the Earth four times over.
OP
- Thread Starter
- #14
But, it's not real money. It's a piece of paper. The FR can print all they want, and a dollar is worth a dollar. Now, a loaf of bread might be 100 dollars rather than 1 dollar, but....
OP
Don't know if the request is tongue in cheek or not.
http://politicalticker.blogs.cnn.com/2009/01/07/porn-industry-seeks-federal-bailout
http://politicalticker.blogs.cnn.com/2009/01/07/porn-industry-seeks-federal-bailout
:lol:
CoryKS
Senior Master
Has anyone seen the movie "Spirited Away"? This whole thing reminds me of the scene where Chihiro helps the little critter carry his piece of coal. All the other critters see this and start dropping their piece of coal so she'll do their work too.
