tag:blogger.com,1999:blog-53246864840716464.post961786598524928166..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: The Giant Banks, Federal Reserve and Treasury Have All Blackmailed AmericaUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-53246864840716464.post-78015119321361229932010-05-25T13:52:31.083-07:002010-05-25T13:52:31.083-07:00The "blackmail" was a bluff. The only lo...The "blackmail" was a bluff. The only losers without a bailout would have been, and still will be (wait, it's coming) the banksters and those who trusted them (lots of little people). But the little people will have gained in the long run, e.g.,learning not to trust government and those in bed with them,e.g.,the Federal Reserve Board. The bailout only prolonged the collapse and makes it worse. Secession, state by state, is the answer.voluntaryisthttps://www.blogger.com/profile/04241590374328028776noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-86927806089547635532010-05-24T07:51:53.810-07:002010-05-24T07:51:53.810-07:00Senator Harkins wrote: “We should not hold our eco...Senator Harkins wrote: “We should not hold our economy hostage to the Wall Street threat that total economic collapse is the sure result of not doing everything they want.” <br /><br />The senator clearly does not understand the operation of the Fed. The Fed establishes a line of credit for Congress in the amount of the principal from securities (bills, bonds, or notes) that Congress gives to the Fed. Every “dollar” in circulation is based upon this amount. <br /><br />(The commercial banks multiply this ‘reserve’ by fractional reserve requirements. The Treasury serves as auctioneer to sell the Fed‘s securities to Primary Dealers and make it look like the public is funding the government. The auction reduces the inflationary exposure.) <br /><br />The promise is to pay back the principal plus interest. The interest does not exist. If a security is for a one year extension, it is obvious the interest must come from another security or the inherent Ponzi scheme is obviously bankrupt. Ref. http://usa-the-republic.com/items%20of%20interest/Inherent%20National%20Bankruptcy.html<br /><br />The Fed operates on fraud. The national debt can never be paid off.<br /><br /><br />What the senate is doing is postponing the inevitable by funding the Ponzi scheme a bit longer. The economy is held hostage by the Fed, regardless of what Senator Harkins says.rebhttps://www.blogger.com/profile/09622151222543158091noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-42829782738305659912010-05-23T09:04:58.286-07:002010-05-23T09:04:58.286-07:00Wait a minute. These banks hold deposits for proba...Wait a minute. These banks hold deposits for probably tens of millions of people, businesses, and state and local governments. If the big banks failed, there is no way the FDIC could cover the losses. I think that in the short term the bailouts are preferable to the country going broke.<br /><br />However, the writing is on the wall in giant, dripping red letters. If you are still banking with TBTF, your grace period is rapidly expiring.<br /><br />Unfortunately, what should have been a temporary measure appears to be turning into a "long con." "People seem to be buying it, let's run with it as long as we can, and maybe things will turn out all right." Fah. The self-deluded idiots who sleazed their way into positions of authority are ensuring that near-total economic annihilation must precede real recovery.<br /><br />And you know what? Even if the worst-case scenario came to pass, after a short period of turmoil we'd probably be better off, as long as we have the guts to say no the protection racket pimps and easy money mafiosos.<br /><br />PS For you gold bugs out there, consider the Gold Reserve Act of 1934. If you're comfortable with the possibility of buy gold at $1,200 an ounce and selling it back to the Treasury at $50 an ounce, by all means, go ahead. Just saying it might happen.erichttps://www.blogger.com/profile/13387222459138336071noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-29455772175198486492010-05-23T07:48:50.249-07:002010-05-23T07:48:50.249-07:00I find the arguments made by the giant banks, Fede...I find the arguments made by the giant banks, Federal Reserve and Treasury all quite cogent -in an empirical sense-.<br /><br />These guys all know what they are doing. It's more what-they-are-doing -that they seem not to understand. (I realize that sounds gibberish.)<br /><br />In essence, yes, if we do not continue to throw our children into this volcano of empirical insanity, it will blow up.<br /><br />Empirical Knowledge has got a-hold of us in the worst way. It's true. -Scientifically speaking- there is no other choice BUT to continue down this course into what is clearly an massive-inferno.<br /><br />Categorical Knowledge -though- indicates unambiguously, -it doesn't make any difference whether or not you throw your children into the empirical volcano. The volcano is going to blow up -anyway-.<br /><br />Either way, humanity has constructed for itself a scientific reality that simply cannot be sustained, -not even in the nearest term.<br /><br />The question at hand is, with all these many recent clearly-even-more-suicidal fixes being effected, how much worse will the blow-up be?<br /><br />My humble estimation today is, -close to 80% of humanity is going to die-off. Yes, I think it is going to get very ugly -indeed-.<br /><br />Furthermore though the envelope cannot be pushed much further...<br /><br />The remaining 20% could -however- also be extinguished in the coming scientific maelstrom.<br /><br />It looks, sounds and even smells like it-will-be-war that will cause the massive die-off. <br /><br />But it will only be war, if something else science has been doing doesn't first trigger the wave-of-death that is coming.<br /><br />This is the predicament we are all left with when the common moral compass -impinges on the more natural instinct rising amongst the populace.<br /><br />Storming the Bastille is a much safer route than we are taking -being so "civilized"-.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-14874956481680233032010-05-22T18:03:11.405-07:002010-05-22T18:03:11.405-07:00From The Washington Post:
"Marie Antoinette c...From The Washington Post:<br />"Marie Antoinette could fit into this crowd without missing a beat," said Nell Minow, co-founder of the Corporate Library, which found in recent studies of several thousand U.S. companies that more chief executives received club memberships than a year earlier, and companies paid more to cover executives' personal use of corporate planes. "Many people would think the solution would be not to be so provocative of unrest and unhappiness, but no, they're saying, 'Go ahead and do that, just build bigger walls around your house.' " <br /><br />http://www.washingtonpost.com/wp-dyn/content/article/2010/05/22/AR2010052200331.html?hpid=topnewsSaman Mohammadihttps://www.blogger.com/profile/00901309111851547218noreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-72502046496765581302010-05-22T09:21:58.922-07:002010-05-22T09:21:58.922-07:00Thank you, friend, for saying this loudly and clea...Thank you, friend, for saying this loudly and clearly again. I agree with everything you say.<br /><br />I've said it myself time and time again at my blog but it seems that the sheeple have decided to just make the best of a very bad deal (no retirement or good jobs ever again - for at least the next 10 years anyway) and are now lying down for the final blow.<br /><br />What can we do?<br /><br />S<br /><br /><i>Any way you look at it, the too big to fails are not needed and they are dragging our economy into a black hole.<br /><br />. . . The Senate bill contains most of what Fed officials sought. In addition to preserving their bank-supervisory powers, it maintains a ban on congressional audits of interest-rate decisions that some lawmakers had sought to strip away.<br /><br />. . . The response from the Senator demonstrates [that the Fed is pressuring] gullible and incompetent senators ... to pass law after law that is only in the Fed's, and thus Wall Street's interests, as the alternative would always be a "market nose dive"<br /><br />. . . I do not believe that anyone, including Mr. Bernanke, is too big to be replaced. We should not hold our economy hostage to the Wall Street threat that total economic collapse is the sure result of not doing everything they want.</i><br />_____________Cirzehttps://www.blogger.com/profile/07070125217972397204noreply@blogger.com