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 Post subject: Federal Reserve audit
PostPosted: Fri Jul 22, 2011 11:19 pm 
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Joined: Fri Nov 02, 2007 5:14 pm
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Sit down, empty your hands of sharp objects and breath deep.

The Federal Reserve has loaned out $16 trillion in the last three years to US banks, international central banks and I guess whatever Ukrainian house cleaning business bothered to ask.

I'm stunned. Literally stunned.

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 Post subject: Re: Federal Reserve audit
PostPosted: Sat Jul 23, 2011 4:43 am 
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Will we muddle through or does information such as this (and the current debt stand-off) foretell some incredible disaster?


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 Post subject: Re: Federal Reserve audit
PostPosted: Sat Jul 23, 2011 6:29 am 
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Joined: Fri Apr 04, 2008 10:48 am
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SPQR wrote:
I'm stunned. Literally stunned.


Why?

We're working on a monetary system that permits banks a 10:1 loan rate. They can loan 10x what they have in cash, hose us on interest on that non-existant money and laugh --- all the way to their vault. A transfer from my ING account to my credit union account - three days, why? It's moving electrons not paper - hosing us again. They get our money, free of charge for three days, and then give it back.

I don't have a good answer in this fiscal world, but, we're hosed at some point. And I don't think gold is the answer.

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 Post subject: Re: Federal Reserve audit
PostPosted: Sun Jul 24, 2011 12:35 am 
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Location: California-prev Texas Montreal Virginia
It has been interesting following gold (and other metals) over the past half century. Post WWII Fortune Magazine was probably the most sophisticated business publication. I believe it cost one dollar at the newsstand when most magazines were a dime. Around WWII most of the worlds gold moved to the US. Circa 1959-60 Fortune had an article documenting a reversal - movement of gold away from the US. This continued until Nixon closed the gold window in 1973.

-- An interesting but controversial organization
http://www.gata.org/

Apparently the 10 to 1 ratio can also work in reverse, resulting in deflation


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 Post subject: Re: Federal Reserve audit
PostPosted: Wed Mar 13, 2013 9:09 pm 
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To pump a little new life in this thread:

Fed Res expected to buy 90% of treasuries in the next year.

Oh My God. That's an extraordinary amount of "funny" money - as the Federal Reserve is just creating that trillion dollars with a wand. They don't even have to pay for paper and ink ...

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 Post subject: Re: Federal Reserve audit
PostPosted: Sat Apr 13, 2013 11:39 am 
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I noticed this last year when I was working on my grade 11 economics project, er...

Most of the aid sent to Japan after its earthquake/tsunami disaster was monetary aid ment to prop up Japan's economy.

My, er... his, er... its thesis was that since WWII the concept of foreign aid has evolved from rebuilding Europe to feeding enfamished people to building infrastructures to starting small businesses to creating a middle class.

Once a developing country has developed far enough, its infrastructures and food supplies are robust enough to greatly minimize the loss of life after a disaster. Aid is then focused on the country's economy to prevent a severe reaction from depressing international markets.

The case study was a comparison between the Indonesian earthquake/tsunami and Japan's.

Note, most of this has been driven by the United States. Well done and thank you.

It will be interesting to see how the rest of the world responds if the U.S. should ever be hit with a major disaster.

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 Post subject: Re: Federal Reserve audit
PostPosted: Sat Apr 13, 2013 11:48 am 
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We'll be left to twist in the wind. What, was that hard?

And, frankly, we'll deserve it.


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