The Incredibly Shrinking Dollar!

[molson_golden2002]

Typical response from those that fail to admit the truth. Nothing has changed has it?

 

Next you'll be telling me that the Fed is owned by the people and we the people control it. Yet members of congress have stated repeatedly for damn near 100 years that, this is simply not the case.

 

What has change today, nothing, we pay interest to a private bank for public money.

 

I guess all those dead presidents were wrong in your world. The congressional record is full of information on the banking system, just because you can't believe it, doesn't make it false.

I'm no defender of GG at all, but he is 100% right here. There needs to be some central planning to try and manage this giant economy. Yes, it costs something. Is it better to pay a little or have all the bad things that can occurr because of a crash of the economy? Don't just think of massive poverty, think about the politics in situation like that. Hitler took power during an economic downturn. Economic downturns are dangerous and horrible. You should be thankful we have institutions in place to stear us clear of the unthinkable

[GG]

I'm no defender of GG at all, but he is 100% right here. There needs to be some central planning to try and manage this giant economy. Yes, it costs something. Is it better to pay a little or have all the bad things that can occurr because of a crash of the economy? Don't just think of massive poverty, think about the politics in situation like that. Hitler took power during an economic downturn. Economic downturns are dangerous and horrible. You should be thankful we have institutions in place to stear us clear of the unthinkable

 

Way to be in a totally different universe in trying to defend a point. Congratulations.

 

The Fed is not about central planning. It's about having an institution that coordinates public and private capital flow.

[molson_golden2002]

Way to be in a totally different universe in trying to defend a point. Congratulations.

The Fed is not about central planning. It's about having an institution that coordinates public and private capital flow.

Yes, bad choice of words

[East Brady]

I'm no defender of GG at all, but he is 100% right here. There needs to be some central planning to try and manage this giant economy. Yes, it costs something. Is it better to pay a little or have all the bad things that can occurr because of a crash of the economy? Don't just think of massive poverty, think about the politics in situation like that. Hitler took power during an economic downturn. Economic downturns are dangerous and horrible. You should be thankful we have institutions in place to stear us clear of the unthinkable

Yea that's it, we should be happy with a PRIVATE BANK that has raped this nation to the tune of TRILLIONS of dollars in interest, delivered the great depression, and made money off Hitler. What a great bunch of pigs we have running this country, and to think you guys sit here haggling over the phony left vs. right argument.

I guess you guy's are all happy to owe those tax dollars to a private group of bankers, while debating the merits of a free market, or capitalism as you guys call it.

 

Jefferson:

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

 

 

I guess he was just another dumb ass according to the guy's in this thread. Carry on you good americans.

 

It's Top vs. Bottom.

 

Thomas Jefferson, just another lunatic according to many around here, sad truly sad.

[molson_golden2002]

Yea that's it, we should be happy with a PRIVATE BANK that has raped this nation to the tune of TRILLIONS of dollars in interest, delivered the great depression, and made money off Hitler. What a great bunch of pigs we have running this country, and to think you guys sit here haggling over the phony left vs. right argument.

I guess you guy's are all happy to owe those tax dollars to a private group of bankers, while debating the merits of a free market, or capitalism as you guys call it.

 

Jefferson:

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

I guess he was just another dumb ass according to the guy's in this thread. Carry on you good americans.

 

It's Top vs. Bottom.

 

Thomas Jefferson, just another lunatic according to many around here, sad truly sad.

Two things:

How did Fed deliver the GD?

 

And Jefferson was wrong

[East Brady]

Two things:

How did Fed deliver the GD?

 

And Jefferson was wrong

What did the fed do to prevent it, answer, nothing. Yet the owners of the fed lost nothing.

 

I guess you'd agree that Lincoln and many others were wrong also? Sad, very sad. Are you happy with that tax burden your passing on, courtesy of the left and right? Save the clinton good, bush bad nonsense.

 

Carry on you great americans. Get to work now, there's tax's to be paid to the Fed.

 

Hey maybe the fed will let us print some more money next week, then we the people can take on the loss's they create, we lose they win, that sounds like a good deal to me.

[DC Tom]

Do they? Are you sure about that?

 

Yes. Paying back the Fed...that's how the system works. Of course, the Fed could theoretically change the rules...but until and unless they do, it's a loan, and JPM in purchasing B-S would inherit the obligation. (Hell, technically, given how the deal was set up and how the discout window works, JPM's already on the hook for the loan.)

 

Absorbing B-S's assets against their balance sheet...GAAP. Again, theoretically JPM doesn't "have to"...the same way Enron didn't "have to" declare debt when they parked it in subsidiaries. The biggest difference being that, given the extreme visibility of Bear-Stearns' current predicament, it would be almost impossible for JPM to commit any accounting irregularities or fraud in a purchase.

[DC Tom]

Yea that's it, we should be happy with a PRIVATE BANK that has raped this nation to the tune of TRILLIONS of dollars in interest, delivered the great depression, and made money off Hitler. What a great bunch of pigs we have running this country, and to think you guys sit here haggling over the phony left vs. right argument.

I guess you guy's are all happy to owe those tax dollars to a private group of bankers, while debating the merits of a free market, or capitalism as you guys call it.

 

Jefferson:

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

I guess he was just another dumb ass according to the guy's in this thread. Carry on you good americans.

 

It's Top vs. Bottom.

 

Thomas Jefferson, just another lunatic according to many around here, sad truly sad.

 

Always love the "made money off Hitler" argument.

[John Adams]

Jefferson:

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

I guess he was just another dumb ass according to the guy's in this thread. Carry on you good americans.

 

It's Top vs. Bottom.

 

Thomas Jefferson, just another lunatic according to many around here, sad truly sad.

 

Know much history?

 

Jefferson was a kook on a lot of topics, not the least of which was the economy. He thought that the US should be an agrarian society and longed for the agrarian ideal.

 

Of course, he also had some great quotes about being anti-slavery, while owning and fathering children with his own slaves. And he was supposedly a total states rights guy but made the Louisiana Purchase. So go figure. Quoting Jefferson as a source is interesting but doesn't make a point in itself.

[Gavin in Va Beach]

Know much history?

 

Jefferson was a kook on a lot of topics, not the least of which was the economy. He thought that the US should be an agrarian society and longed for the agrarian ideal.

 

Of course, he also had some great quotes about being anti-slavery, while owning and fathering children with his own slaves. And he was supposedly a total states rights guy but made the Louisiana Purchase. So go figure. Quoting Jefferson as a source is interesting but doesn't make a point in itself.

 

Indeed. In the book written about you by McCullough, Jefferson was painted as a modern day 'shopaholic' who was always deep in debt and died that way.

[GG]

But, but, but, but

 

The chain email I got today says you guys are wrong.

[meazza]

Way to be in a totally different universe in trying to defend a point. Congratulations.

 

The Fed is not about central planning. It's about having an institution that coordinates public and private capital flow.

 

It's all about Hitler.

[meazza]

Yea that's it, we should be happy with a PRIVATE BANK that has raped this nation to the tune of TRILLIONS of dollars in interest, delivered the great depression, and made money off Hitler. What a great bunch of pigs we have running this country, and to think you guys sit here haggling over the phony left vs. right argument.

I guess you guy's are all happy to owe those tax dollars to a private group of bankers, while debating the merits of a free market, or capitalism as you guys call it.

 

Jefferson:

"If the American people ever allow private banks to control the issue of their currency, first by inflation then by deflation, the banks and the corporations will grow up around them, will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

I guess he was just another dumb ass according to the guy's in this thread. Carry on you good americans.

 

It's Top vs. Bottom.

 

Thomas Jefferson, just another lunatic according to many around here, sad truly sad.

 

So I'm guessing you saw that Zeitgeist documentary?

[meazza]

Yes. Paying back the Fed...that's how the system works. Of course, the Fed could theoretically change the rules...but until and unless they do, it's a loan, and JPM in purchasing B-S would inherit the obligation. (Hell, technically, given how the deal was set up and how the discout window works, JPM's already on the hook for the loan.)

 

Absorbing B-S's assets against their balance sheet...GAAP. Again, theoretically JPM doesn't "have to"...the same way Enron didn't "have to" declare debt when they parked it in subsidiaries. The biggest difference being that, given the extreme visibility of Bear-Stearns' current predicament, it would be almost impossible for JPM to commit any accounting irregularities or fraud in a purchase.

 

Have the obligations already made their way on the balance sheet as the merger hasn't been deemed effective as of yet?

[East Brady]

But, but, but, but

 

The chain email I got today says you guys are wrong.

So I see you to are fat and happy with the private bank known as the Fed.?

 

Typical insult presented by someone that is totally entrenched in this phony system, yet I have you and molson six pack rubbing each others balls, funny stuff. Hey maybe you can enlighten me with some of that very funny left vs. right crap.

 

Have you read the "Primer on Money" issued by the US Congress in '64 or you just going to fluff it all off as chain mail. Oh wait, those are 50 year old papers issued by the House Banking Committee, just another bunch of crack pots.

 

“If the people of the nation understood our banking and monetary system, I believe there would be a revolution before tomorrow morning.” Henry Ford

 

Abe Lincoln issued money to fight the civil war, instead of borrowing it from the elite at 29%, all easily passed off as crack pots by you guy's.

 

Thats it keep borrowing from the Fed and all will be right in the world.

All hail the mighty Fed, what's a little more interest.

Clinton good Bush bad.

Bush bad Clinton good.

 

 

I love the everyone's an idiot arguement.

 

Carry on.

 

I'll be sure to forward you that non existent chain mail. Funny stuff.

 

Who's the chosen one this time clinton or mccain.

Clinton good McCain bad.

McCain good Clinton bad.

 

Funny stuff.

[GG]

Perhaps you would make more sense if you knew the difference among "issuing money," "borrowing from the elite," and "borrowing from the Fed."

 

Learning grammar may also help.

[East Brady]

Perhaps you would make more sense if you knew the difference among "issuing money," "borrowing from the elite," and "borrowing from the Fed."

 

Learning grammar may also help.

I think I'll just sit back and watch Bush and the next idiot in Washington head over to the Saudi's and hold hands, dance in a robe, begging for some relief.(What a pathetic display that was) While you guy's worry over the collapse of the bogus banking system that has placed trillion's of tax payer back dollars into the middle east and china, etc..Go Fed go.

 

Is my typing and grammar great, nope.

 

 

Perhaps you could enlighten me on the wonders of the Fed., while they continue to screw everyone in this nation. Ah what's another few trillion tax payer backed dollars going to hurt.

 

Is the Federal Reserve Bank a public or private institution, and why are we paying them interest?

 

Spare me the left vs. right crap.

[SilverNRed]

Know much history?

 

Jefferson was a kook on a lot of topics, not the least of which was the economy. He thought that the US should be an agrarian society and longed for the agrarian ideal.

 

Of course, he also had some great quotes about being anti-slavery, while owning and fathering children with his own slaves. And he was supposedly a total states rights guy but made the Louisiana Purchase. So go figure. Quoting Jefferson as a source is interesting but doesn't make a point in itself.

The people who actually read about Jefferson respect him less than the people who don't.

 

The attacks he orchestrated on Washington, Adams, and Hamilton that eventually landed him in the White House were completely awful. His economic theories were a joke.

[John Adams]

Indeed. In the book written about you by McCullough, Jefferson was painted as a modern day 'shopaholic' who was always deep in debt and died that way.

 

Most books about Jefferson paint him as a pretty odd duck. I've read 3 biographies and of course, he wanders through others. He rarely comes across as likeable.

[Dwight Drane]

Quick chime in here..

 

East Brady..I like the Jefferson quote. Just because we haven't woken up homeless and without property just yet, doesn't mean that it won't happen in the future...in the near future. The Texas diatribe wasn't helping the case though.

 

DC is right, the Fed is lending for now, but they have been changing terms on all sorts of things lately. First it's 28 days, then 90 days...before you know it, it will either not be expected back, or interest will be forgeven, since it is almost forgiven right now anyway. The question of the swaps on the JP Morgan balance sheet really doesn't matter in the big picture. The rules are being suspended on them, which is why I was upset with the Bear transaction in the first place. Every other rule is up in the air right now, yet they hold Bear to them, and the talking points in the media the next day were "Don't you think bad management shoul dbe punished? How irresponsible for Bear to not have a read on their liquidity!".....problem is, most places don't know what they hold right now.