All this stimulus money BHO is asking for + all the stimulus money already approved and/or spent by Congress + all other future bailout funds are monies that are completely fabricated. That is, they have been created out of thin air by the Federal Reserve. They simply increase the money supply. We as taxpayers, both [...]
The Government can monitor the incomes and finances of 300+ million Americans and maybe 5+ million businesses but can not determine how 208 banks used $162 billion of which most was given to 20-30 banks? This is utterly preposterous. I think the more likely explanation is the Treasury does not want the public to know [...]
By Ronald D. Orol
WASHINGTON (MarketWatch) — The Treasury Department on Wednesday said it is challenging for government officials to understand how financial institutions participating in a $700 billion bank bailout program are using the capital they receive. “Each individual financial institution’s circumstances are different, making comparisons challenging at best, and it is difficult to track [...]
The Fed is trying to stimulate buying by the consumer by just increasing the money supply through the banking system. THAT WILL NOT WORK.
The problem here is credit worthiness of the consumer which is trickling up to businesses. Banks have restricted credit to only those with very high credit scores no matter how low interest [...]
Congressman identifies Federal Reserve as the real problem
Paul Joseph Watson
Prison Planet.com
Thursday, December 11, 2008
Amidst the hand-wringing of the automaker bailout debate, Ron Paul took the opportunity on the House floor yesterday to remind Congress that the real culprit behind the financial crisis is the Federal Reserve, and that allowing the Fed to continue to print [...]
“The asset (note and mortgage) is sold to someone else. They may pay 50 cents on the dollar, but you still owe the full amount. That’s how the FDIC fund is not totally ravaged. Then if you don’t pay them, they foreclose.”
I’m not talking about what bankers actually do, I’m talking about real contract law, [...]
According to CNN if the Big 3 bailout is rejected by Congress the impact on the US economy would be devastating. When you combine the possible job cuts within each of the Big 3 automakers with the job losses in the satellite industries of car dealerships and auto parts suppliers the number of people poised [...]
Democrats are proposing to have a special session of Congress to provide money for the American car companies until the new president and Congress are in their offices. According to a number of media sources there is no agreement on what happens next. That means options still run the range from Chapter 7 to pre-packed [...]
By 24/7 Wall St.
According to a report in The Wall Street Journal, “Chrysler hired the prominent law firm of Jones Day several weeks ago as bankruptcy counsel, a move that suggests the auto maker is preparing for imminent financial failure should its efforts to persuade Congress for federal rescue funds fall short.”
Douglas A. McIntyre
Possibly Related [...]
That is the micro-picture.
Here is the macro-picture: Per Citi (an Article called the Great Unwind), for every $1 we have borrowed $40 here in the USA. That means the FED has to print $39 more for each real $1 bill—or 39 times more money that exists here in the USA.
Is it even possible, to print [...]
The hedge fund manager’s 20% profit take is gone for good - they will never get their accounts in the “black” again; best thing for most of them to do is just close up and liquidate. The managers can do better by starting over with a new hedge fund when the “preceived” bottom is in. [...]
Anyone figure out why the upside down home owner must be saved rather than prosecuted? They got free and clear 100 to 400 thousand dollars out of their home. They weren’t stupid when they withdrew the equity and they certainly aren’t stupid by giving the house back to the bank. Now Congress is upset because [...]
Corruption is absolutely complete from top to bottom, management and the Wall St brokers that sell this c***. Now we have seen first hand, the corruption of Henry Paulson formerly of GS, and how he stole TRILLIONS with the aid of GWB and Congress (both parties). Watch how they argue with a straight face, how [...]
For over 70 years we have been a nation where voters have been changing their view of limited government to one of big government.
This is partially due to the teaching in universities but, also due to movies, documentaries, news broadcast formats, magazines, sitcoms, and needs that keep growing the more government tries to help.
Whether you [...]
The new conversation topic at family and neighborhood gatherings is saving and cutting spending and doing without and paying down debt.
That is what turns recessions into depression, not the Fed and not Congress as they try to tell you was the cause of the depression in the 30’s. It was a period of excess where [...]
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