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Fed pledges half of America's annual GDP to the banks

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Re: Fed pledges half of America's annual GDP to the banks

Unread postby gnm » Mon 24 Nov 2008, 12:25:34

At some point the US will lose its ability to float debt with foreign countries. At that point we lose 70%+ of our imported oil and nearly all imported goods. That will be the ugly hangover to all this BS pumping of funny money.

-G 8O
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby nobodypanic » Mon 24 Nov 2008, 12:37:23

--and not one cent to the little people. not one GD F'ing nickle to the people who can't pay their bills, can't keep a roof over their heads, can't keep food in their bellies; for them--nothing.

class warfare from the rich, finally in absolute plain sight, and still no one sees. the culmination of class warfare from the top; the true vampires have finally come out into the light, and still we act like they have a right to our blood.

excuse me while i go throw up at the lack of outrage from the general population. :P
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Arsenal » Mon 24 Nov 2008, 12:51:26

$this->bbcode_second_pass_quote('nobodypanic', '
')excuse me while i go throw up at the lack of outrage from the general population. :P


It will get there... If the general mass of people go hungry then you can expect a riot or revolution. Until then the sheeple will be clueless. Poor but still clueless.
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby mattduke » Mon 24 Nov 2008, 12:59:39

$this->bbcode_second_pass_quote('nobodypanic', '-')-and not one cent to the little people. not one GD F'ing nickle to the people who can't pay their bills, can't keep a roof over their heads, can't keep food in their bellies; for them--nothing.

class warfare from the rich, finally in absolute plain sight, and still no one sees. the culmination of class warfare from the top; the true vampires have finally come out into the light, and still we act like they have a right to our blood.

excuse me while i go throw up at the lack of outrage from the general population. :P

It's not enough to be rich. You must be politically connected. The classes are the government classes, and the rest of us.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Specop_007 » Mon 24 Nov 2008, 13:00:17

$this->bbcode_second_pass_quote('nobodypanic', '-')-and not one cent to the little people. not one GD F'ing nickle to the people who can't pay their bills, can't keep a roof over their heads, can't keep food in their bellies; for them--nothing.

class warfare from the rich, finally in absolute plain sight, and still no one sees. the culmination of class warfare from the top; the true vampires have finally come out into the light, and still we act like they have a right to our blood.

excuse me while i go throw up at the lack of outrage from the general population. :P


Why should we be outraged? Perhaps you forgot about our handout that came was it earlier this year? Or last? Cant even remember.
Well, "We the people" have had our handout. Now its time for big business to get theirs.

Otherwise, the samrt we the peoples arent cold or hungry. Because we arent leveraged to the hilt, and up to our ears in debt.

Well, I am cold and hungry but only because I wore a shirt and I should have worn a sweater today and its almost lunch time...... :oops:
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby MrBean » Mon 24 Nov 2008, 13:47:52

$this->bbcode_second_pass_quote('eastbay', '/')wiki/Democratic_centralism]Democratic Centralism[/url].

-snip-

The revolution is well underway.


I once belonged to a revolutionary socialist party (trotters). The party was organized according to the principle of "Democratic Centralism". I saw that they are not a party of and for revolution, left. Next time I wan't revolution, I just call a bunch of hippie anarchists. At least they know what a real revolution is supposed to feel like. Mean time, I'm allready in state of revolution. I revolve. :)
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby JoeW » Mon 24 Nov 2008, 16:47:41

I think Bloomberg needs to be aware that there is a difference between the U. S. Government and the Federal Reserve. I believe the Federal Reserve is free to spend their money however they see fit. It's not my tax dollars. They have their own money.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby shortonoil » Mon 24 Nov 2008, 17:07:41

$this->bbcode_second_pass_quote('', 'T')he currency is already Toast, you can see this in the lack of reality in the equities market and commodities market. You can't value properly any of these things because the actual value of the currency is unclear. Well, its not unclear to me, its worthless, but the folks involved in trading don't accept this yet, they still are looking for a way OUT of the dilemma. Other countries at this point would of course love to decouple from the dollar, but it really wouldn't help because then THOSE fiat currencies also really have no underpinning.

I still do not see runaway inflation occuring here before the monetary system collapses. There just is no time left for that to happen, the deflation in industry, the rapid rise in unemployment and the disappearance of tax revenue are all happening cocurrently and too fast to inflate out of this mess. Its not like 1979. Its not like 1929 either, because you really cannot base a currency on Gold anymore, there isn't enough of the stuff around to do that with.

Anyhow, I can't say I know exactly what game will be played here to keep some form of economic system running, I'm sure something will be substituted, but this system is just TOAST. You can't fix it.

Reverse Engineer



If one takes a look at the balance sheet of Citi, WalMu, Country Wide, or the late great Downey you will find that it is composed of the same toxic garbage that now makes up the balance sheet of the FED. They are almost identical.

They all required a bailout, buy out or merger to survive in any form what ever. Who is going to bailout the US dollar? It is backed by the same trash that has brought down the US banking syndicate!
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby yesplease » Mon 24 Nov 2008, 17:24:50

I hate to play Devil's centrist here, but has anyone looked at the likely losses from taking on some toxic debt compared to the drop in GDP from a really tight credit market?
$this->bbcode_second_pass_quote('Professor Membrane', ' ')Not now son, I'm making ... TOAST!
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Cid_Yama » Mon 24 Nov 2008, 19:37:36

"For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst and provide for it." - Patrick Henry

The level of injustice and wrong you endure is directly determined by how much you quietly submit to. Even to the point of extinction.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby nobodypanic » Mon 24 Nov 2008, 21:00:01

$this->bbcode_second_pass_quote('Cid_Yama', '[')url=http://www.usagold.com/germannightmare.html]<i>Could someone give a link to a post either on this forum or elsewhere that gives a clear picture of what exactly happens if the dollar crashes?</i>[/url]

Click on question.

thanks for the link cid.

intresting nugget:
$this->bbcode_second_pass_quote('', 'B')y mid-1923 workers were being paid as often as three times a day. Their wives would meet them, take the money and rush to the shops to exchange it for goods. However, by this time, more and more often, shops were empty. Storekeepers could not obtain goods or could not do business fast enough to protect their cash receipts. Farmers refused to bring produce into the city in return for worthless paper. Food riots broke out. Parties of workers marched into the countryside to dig up vegetables and to loot the farms. Businesses started to close down and unemployment suddenly soared. The economy was collapsing.

history suggests that some of smugest of posters in here aren't as safe as they like to think.
Last edited by nobodypanic on Mon 24 Nov 2008, 21:56:47, edited 1 time in total.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby yesplease » Mon 24 Nov 2008, 21:52:14

$this->bbcode_second_pass_quote('Cid_Yama', '[')url=http://www.usagold.com/germannightmare.html]<i>Could someone give a link to a post either on this forum or elsewhere that gives a clear picture of what exactly happens if the dollar crashes?</i>[/url]

Click on question.
Was this in response to my question?
$this->bbcode_second_pass_quote('Professor Membrane', ' ')Not now son, I'm making ... TOAST!
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Cid_Yama » Mon 24 Nov 2008, 21:55:44

We have another problem here. Farmers and ranchers need to borrow to feed livestock, and plant. This credit is not available. Herds are being culled as they will not have feed for the winter. Crops will not be planted.

When no livestock is raised, no crops planted, there is no subsequent harvest, no slaughter for the feast. The food runs out. This can't then be solved later with an infusion of cash, as there will have been nothing grown, nothing raised to buy.

2009 will be remembered.
Last edited by Cid_Yama on Tue 25 Nov 2008, 00:15:23, edited 2 times in total.
"For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst and provide for it." - Patrick Henry

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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Cid_Yama » Mon 24 Nov 2008, 21:59:32

It was in response to munqi's post.

http://www.peakoil.com/post817923.html#817923
Last edited by Cid_Yama on Mon 24 Nov 2008, 22:00:19, edited 1 time in total.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby Nefarious » Mon 24 Nov 2008, 22:00:16

$this->bbcode_second_pass_quote('nobodypanic', '')$this->bbcode_second_pass_quote('Cid_Yama', '[')url=http://www.usagold.com/germannightmare.html]<i>Could someone give a link to a post either on this forum or elsewhere that gives a clear picture of what exactly happens if the dollar crashes?</i>[/url]

Click on question.

thanks for the link cid.

intresting nugget:
$this->bbcode_second_pass_quote('', 'B')y mid-1923 workers were being paid as often as three times a day. Their wives would meet them, take the money and rush to the shops to exchange it for goods. However, by this time, more and more often, shops were empty. Storekeepers could not obtain goods or could not do business fast enough to protect their cash receipts. Farmers refused to bring produce into the city in return for worthless paper. Food riots broke out. Parties of workers marched into the countryside to dig up vegetables and to loot the farms. Businesses started to close down and unemployment suddenly soared. The economy was collapsing.

history suggest that some of smugest of posters in here aren't as safe as they like to think.


Ahhh yes. Ye ole zombie horde.
For every action there is an equal and opposite REACTION

keep recessed in the back of your mind electric motor, car batteries.
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby jasonraymondson » Mon 24 Nov 2008, 23:48:59

$this->bbcode_second_pass_quote('eastbay', '')$this->bbcode_second_pass_quote('Byron100', 'W')hoa nellie!! :shock: Reading that report is just insane - how can such a thing be possible - to devote 50% of our GDP without a vote?!?!? This is surreal beyond belief. :?

The ONLY way this will be resolved is full-scale revolution. Toss the money-grubbers out of the country, cancel the US dollar and all associated debt, public and private, and start over from scratch.

Until this happens, I'm just going to sit back and munch my popcorn - no sense in even trying to lift a finger - and neither should anyone else. Why work, pay bills, etc when Doomsday is almost at hand?


It's called Democratic Centralism. We elect a Congress and a President. Get it? The Treasury Department and FED whose top officials and operating guidelines were authorized by Congress and the president, do whatever they want and it's justifiable as 'democracy because their actions were authorized through 'democratic processes'. The revolution is well underway.

Expect the exact same thing for the next four or eight years.



It is amazing how I so often want to knock this guys head and yet at the same time respect him for succinctly placing my thoughts into words that people can understand.

of course if we don't rise up now and bum rush the capitol now, we never will and will also never be able to.

But it won't happen, we will wait until it is to late


$this->bbcode_second_pass_quote('Cid_Yama', '
')
2009 will be remembered.


Only 80 years after the last one. It saddens me, that my grandfather has to live to see two great depressions and to see the one that finally kills his country. :(
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby yesplease » Tue 25 Nov 2008, 00:00:43

$this->bbcode_second_pass_quote('Cid_Yama', 'I')t was in response to munqi's post.

http://www.peakoil.com/post817923.html#817923
Gotcha! :)
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby MrBean » Tue 25 Nov 2008, 05:36:55

$this->bbcode_second_pass_quote('Cid_Yama', 'W')e have another problem here. Farmers and ranchers need to borrow to feed livestock, and plant. This credit is not available. Herds are being culled as they will not have feed for the winter. Crops will not be planted.

When no livestock is raised, no crops planted, there is no subsequent harvest, no slaughter for the feast. The food runs out. This can't then be solved later with an infusion of cash, as there will have been nothing grown, nothing raised to buy.

2009 will be remembered.


Sounds like a problem. Any more detailed info on no crops planted?
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Re: Fed pledges half of America's annual GDP to the banks

Unread postby ReverseEngineer » Tue 25 Nov 2008, 06:45:04

$this->bbcode_second_pass_quote('MrBean', '
')
Sounds like a problem. Any more detailed info on no crops planted?


In the US, since Spring Planting Season is still a good 4-6 months away depending on location, the failure of the credit markets hasn't yet hit. The question would be, if the dollar does tank in say February, would we be able to put in place by say April some alternate currency/mandate that farmers plant crops, with say a Goobermint "bailout".

In other words, Dollar tanks in Feb, in April Goobermint issues farmers (or rather industrial farms) scrip that allows them to buy fuel out of say the SPR to get the seeds into the ground. Meanwhile negotiating with the Saudis to refill the SPR if they expect to get any food from us. In the words of the Terminator, "COME WITH ME IF YOU WANT TO LIVE!"

If the dollar tanks anytime before planting season, something like this scenario has to happen, or we would indeed starve in the following year. I do not think in the near term TPTB would let the industrial farm apparatus fail, anymore than they would let the banks fail. That does NOT help the subsistence farmer of course. SFs and their products would not get the subsidies, and they would be forced off their land, unless they have enough income otherwise to meet the taxes on them. That is actually how it is NOW.

Its all about consolidation of resources and power. Until the system as a whole breaks down, the individual will always be pushed down by big capital. Its unclear right now precisely how this breakdown will happen, and in what time frame. However, it still remains true that it is a better position to be in as a subsistence farmer than to live in a big city as this plays itself out.

Still better to have Moose traipsing through your backyard though, IMHO. :-)

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Re: Fed pledges half of America's annual GDP to the banks

Unread postby MrBean » Tue 25 Nov 2008, 07:12:16

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('MrBean', '
')
Sounds like a problem. Any more detailed info on no crops planted?


In the US, since Spring Planting Season is still a good 4-6 months away depending on location, the failure of the credit markets hasn't yet hit. The question would be, if the dollar does tank in say February, would we be able to put in place by say April some alternate currency/mandate that farmers plant crops, with say a Goobermint "bailout".

In other words, Dollar tanks in Feb, in April Goobermint issues farmers (or rather industrial farms) scrip that allows them to buy fuel out of say the SPR to get the seeds into the ground. Meanwhile negotiating with the Saudis to refill the SPR if they expect to get any food from us. In the words of the Terminator, "COME WITH ME IF YOU WANT TO LIVE!"

If the dollar tanks anytime before planting season, something like this scenario has to happen, or we would indeed starve in the following year. I do not think in the near term TPTB would let the industrial farm apparatus fail, anymore than they would let the banks fail. That does NOT help the subsistence farmer of course. SFs and their products would not get the subsidies, and they would be forced off their land, unless they have enough income otherwise to meet the taxes on them. That is actually how it is NOW.

Its all about consolidation of resources and power. Until the system as a whole breaks down, the individual will always be pushed down by big capital. Its unclear right now precisely how this breakdown will happen, and in what time frame. However, it still remains true that it is a better position to be in as a subsistence farmer than to live in a big city as this plays itself out.

Still better to have Moose traipsing through your backyard though, IMHO. :-)

Reverse Engineer


I'm not allowed to eat moose/elk. A totem tabu... :)
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