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(Bloomberg)   The Federal Reserve refuses to disclose recipients of $2,000,000,000,000.00 in emergency loans   (bloomberg.com) divider line 482
    More: Stupid  
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16566 clicks; posted to Main » on 13 Dec 2008 at 5:00 PM (5 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-12-13 05:57:18 PM
Imbrifer: And there won't be a revolution over it, or the lawless society so many of you yearn for. You'll just take it, like you always have.

In 3 days, one storm managed to turn NOLA into a lawless morass of stinking mud and mayhem. It took weeks of effort to restore order to the region.

The fiscal storm we're facing could be far, far worse than Hurricane Katrina.
 
2008-12-13 06:00:41 PM
GoodasGold: NoLiving: Look, I hate Bush as much as the next sane person but honestly he's just one pawn in the game. He's been systematically assisted by congress and our governments over the last 100 years have slowly moved power to themselves.

I don't think Bush is even awake through much of this. It is waaay over his pay grade.


THIS. Bush is a puppet. He has many fists shoved up his ass, and many hands on the strings. I feel sorry for him.

/not very much tho
 
2008-12-13 06:02:44 PM
Weaver95: a lawless morass of stinking mud and mayhem

Somehow I will find a way to fit this phrase into conversation as much as possible from now on.
 
2008-12-13 06:02:51 PM
img.dailymail.co.uk

That's right! We're going BACK to Jekyl Island, Georgia, 1913 to stop this from happening!
 
2008-12-13 06:03:35 PM
nonsense They specifically stated when voting that they would be hosting a website for the public to see where all of the funds were going to.
 
2008-12-13 06:05:36 PM
"When they say that if we don't do exactly as they say and turn over more of our money and more of our liberties and exempt themselves from any court in the whole nation, they're trying to intimidate us and lead us into doing the wrong thing."

"Are we going to have martial law or are we going to have more freedoms? The more problems that we have, the more likely it is that we're going to have martial law, so I do think they anticipate and they plan for these things." - Ron Paul

Asked if criminal investigations and prosecutions of individuals on Wall Street should commence, Paul agreed but said that the main target of criminal inquiry should be the Federal Reserve board itself because, "That's where the fraud is."

"They want to be lawless, they don't want to be held accountable," he added.

Paul said that grand juries should be convened to take on prosecutions rather than the FBI becoming involved, stating, "We have proper authority with that and experience with it and the Enron case is a good example."
 
2008-12-13 06:06:51 PM
2 Trillion dollars.

Fuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuudge.

i243.photobucket.com

That's a few Red Rider BB guns.

Someone was VERY good this year on Santa's bailout list.

(Seriously how do you ever pay back a loan that large)

May you live in interesting times...indeed.
 
2008-12-13 06:07:00 PM
Will the person in a power position who is NOT a scumbag please raise your hand.
 
2008-12-13 06:07:28 PM
chewd: The federal reserve bank is not a government institution.

This is correct.

The federal reserve bank is not federal, it has no reserves, and it's not a bank.
 
2008-12-13 06:08:25 PM
www.fvhuskers.com

"I say and I say it again, you've been had. You've been took. You've been HOODWINKED, BAMBOOZLED, led astray, run amok... We didn't land on Wall Street, Wall Street landed on us!"
 
2008-12-13 06:08:51 PM
iceberg theory: That's right! We're going BACK to Jekyl Island, Georgia, 1913 to stop this from happening!

I don't think it necessary to send Doc and Marty back.

content.answers.com
 
2008-12-13 06:09:35 PM
latimesblogs.latimes.com

See ya, suckers. Should've paid attention when you had the chance.
 
2008-12-13 06:10:14 PM
namegoeshere: GoodasGold: NoLiving: Look, I hate Bush as much as the next sane person but honestly he's just one pawn in the game. He's been systematically assisted by congress and our governments over the last 100 years have slowly moved power to themselves.

I don't think Bush is even awake through much of this. It is waaay over his pay grade.

THIS. Bush is a puppet. He has many fists shoved up his ass, and many hands on the strings. I feel sorry for him.

/not very much tho


Sadly, to get elected president those fists have to be in there. Where else would someone get the money and backing by the DNC or GOP.
Obama will be no different.

\Is appointing Senator Clinton to Sec. State payback of some sort?
 
2008-12-13 06:12:07 PM
Look, the fed and treasury were in denial about this fiasco until they could no longer control the spin. Incompetence and self denial are two halves of the same coin in my experience.

The fact that they are trying desperately to fix this on the hush hush without anyone knowing what complete fools they have been, so they can save this private money making game they created (the unregulated derivative market and credit default swaps) shouldn't shock anyone.
 
2008-12-13 06:12:15 PM
phenn: See ya, suckers. Should've paid attention when you had the chance.

+1
 
2008-12-13 06:12:23 PM
I was not one of the recipients. I think if we all come forward and state whether we were or weren't recipients, we can get to the bottom of this pretty quick.
 
2008-12-13 06:13:33 PM
Phil McKraken: You are mistaken. The Federal Reserve will simply print the money. No tax money will go to this. Unless...

...you count the subsequent inflation as a tax. And you should, because what's the difference between doubling the money supply versus confiscating half your net worth?


THIS

There will be no tax increases to cover these loans, because simply extending the loan itself ("printing" the money) is doing the job. The Fed doesn't raise taxes, it just magics money out of thin air, after all, it's just numbers in bank accounts.

Now, it's a matter of debate whether this doubles the money supply, as this comes at a time of deleveraging; a lot of loans are being undone, and the Fed money is basically just filling the void to some extent. They may overshoot the mark, who's to say? For the moment, with measured inflation going down, it looks like there aren't too many ill effects.
 
2008-12-13 06:14:09 PM
I_C_Weener: I was not one of the recipients. I think if we all come forward and state whether we were or weren't recipients, we can get to the bottom of this pretty quick.

Awww shucks. It was me... I admit it. Free month of TF for everyone.
 
2008-12-13 06:14:16 PM
It all depends on your definition of "recipient"

/you chuckle, but I'm certain a variation of that phrase is about to be uttered
 
2008-12-13 06:14:52 PM
Sorry to be repitious:

The bailout has cost more than all of these big budget government expenditures - combined:

• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Cost: $15 million, Inflation Adjusted Cost: $217 billion
• Race to the Moon: Cost: $36.4 billion, Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: $153 billion, Inflation Adjusted Cost: $256 billion
• Korean War: Cost: $54 billion, Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: $32 billion (Est), Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $551b, Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: $111 billion, Inflation Adjusted Cost: $698 billion
• NASA: Cost: $416.7 billion, Inflation Adjusted Cost: $851.2 billion

TOTAL: $3.92 trillion
 
2008-12-13 06:16:24 PM
Makes sense. If the companies are disclosed, the stock value WILL go down.

Look at Big 3's stocks in the past few weeks.
 
2008-12-13 06:16:46 PM
moof: Phil McKraken: You are mistaken. The Federal Reserve will simply print the money. No tax money will go to this. Unless...

...you count the subsequent inflation as a tax. And you should, because what's the difference between doubling the money supply versus confiscating half your net worth?

THIS

There will be no tax increases to cover these loans, because simply extending the loan itself ("printing" the money) is doing the job. The Fed doesn't raise taxes, it just magics money out of thin air, after all, it's just numbers in bank accounts.

Now, it's a matter of debate whether this doubles the money supply, as this comes at a time of deleveraging; a lot of loans are being undone, and the Fed money is basically just filling the void to some extent. They may overshoot the mark, who's to say? For the moment, with measured inflation going down, it looks like there aren't too many ill effects.


THIS

Before criticizing and arguing the Fed will tax us to hell, please learn a little bit how monetary policy works.
 
2008-12-13 06:18:24 PM
phenn: See ya, suckers. Should've paid attention when you had the chance.

Heh. So many people have been coming up to me and saying "holy shiat, you were right".
 
2008-12-13 06:19:15 PM
That's right! We're going BACK to Florida, 1999 and stop this from happening!

You'd need to go back to 1910. Jekyll Island. I'll let you borrow my guns.
 
2008-12-13 06:22:02 PM
A recession creates unemployment.
Inflation those that are still working poor.
 
2008-12-13 06:22:43 PM
Stupid freaking article.

They do not disclose the recipients because they DO NOT HAVE TO.

They are not a gov't agency, they are a consortium of private banks.

You can take your Freedom of Informaion request and wipe your ass with it, they don't have to tell you what they do, anymore than Drew has to say how much he spends every week on Heineken.

They could lower the Dollar to $1 USA = $1.00 Zimbabwe, and that would be legal.

It would be as sensible as pouring Heneken down the drain, but they could do it.
 
2008-12-13 06:22:46 PM
phenn: See ya, suckers. Should've paid attention when you had the chance.

Well played sir
 
2008-12-13 06:22:55 PM
The truth? You can't handle the truth!
 
2008-12-13 06:22:55 PM
proofread!!!

A recession creates unemployment.
Inflation makes those that are still working poor.
 
2008-12-13 06:24:25 PM
iceberg theory:
from the webpage you cited:
Facts: Yes, the Federal Reserve banks are privately owned

ummmmmm, and now 2 trillion is missing. it dosnt take a rocket surgeon to put the peices together corky...


Now, if we could get only you to read entire articles instead of just the first few lines so you could actually UNDERSTAND what you are talking about...

And your second statement is brought to you by the type of logic that used to say "Ever since that woman came to town we've all had bad luck. It doesn't take a priest to put the pieces together that SHE'S A WIIIITCH!!!"

2 trillion dollars isn't MISSING. The Fed just hasn't disclosed where it has gone yet, and explains why in the article. The Fed is concerned that if information regarding who is getting money is leaked it could cause additional pressures in the market as people move on that information because they are afraid certain banks are failing or in danger of failing.

So read entire articles before you just grant yourself permission to be knowledgeable.
 
2008-12-13 06:25:16 PM
They banks sure are getting their money's worth of those governmental yes-men that they paid so well for.
 
2008-12-13 06:25:34 PM
ZipSplat: SHE'S A WIIIITCH!!!

well.... she did turn me into a newt.

/i got better...
 
2008-12-13 06:25:40 PM
"VonMises" wins the thread, but he should have posted the bibliography.

I will: "Creature From Jekyll Island," by D. Edward Griffin, American Opinion Press 1994.

It is the best book about banking and money ever written, and the man who has not read it cannot discuss finance with the man who has.
 
2008-12-13 06:27:31 PM
olddinosaur: Stupid freaking article.

They do not disclose the recipients because they DO NOT HAVE TO.

They are not a gov't agency, they are a consortium of private banks.

You can take your Freedom of Informaion request and wipe your ass with it, they don't have to tell you what they do, anymore than Drew has to say how much he spends every week on Heineken.

They could lower the Dollar to $1 USA = $1.00 Zimbabwe, and that would be legal.

It would be as sensible as pouring Heneken down the drain, but they could do it.


God dammit, NO. It's NOT THAT SIMPLE.

http://www.publiceye.org/conspire/flaherty/Federal_Reserve.html

Go read! They are a private bank, but they are by no means some autonomous entity that just does whatever it wants.

The misinformation about the complexities of the Fed are absolutely staggering in threads like these.
 
2008-12-13 06:28:01 PM

Nothing to see here...
www.masonicinfo.com

The U.S. Government
Deceiving You Since 1963


Or has it been longer?
zapatopi.net
 
2008-12-13 06:28:23 PM
Prepare for the coming Zombie Wars.
 
2008-12-13 06:28:36 PM
Why i am not surprised this happens....soon it will be $10 trillion. Nothing shocks me anymore when it comes to the govt and throwing money out of a helicopter
 
2008-12-13 06:28:56 PM
olddinosaur: It is the best book about banking and money ever written, and the man who has not read it cannot discuss finance with the man who has.

From your previous post, it must be a picture book.
 
2008-12-13 06:31:01 PM
RON PAUL!!!!!
 
2008-12-13 06:31:23 PM
"Today, we are under the same threat our Founding Fathers faced, for we have fallen under the regime of the central bankers, and their central bank-the Federal Reserve. We are forced to use their interest-bearing scrip, rather than our own interest-free currency, backed by the good faith-and gold-of the United States government.

This pattern of financial enslavement, ensures everlasting bondage to the central bank, as the public loses purchasing power, with the ultimate result being corporate consolidation over a free people. In short; it has taken two centuries to achieve, but the central bankers have finally consolidated their hold over the destiny of the United States of America.

Our government is in virtual paralysis, as we live under the new Dark Ages of national decline and eclipse. Soon the elites assure us; we will be subject to global institutions, and the dissolution of our country into a regional economic system. That New World Order, will replace our money with their own scrip-the Amero.

There is only one cure for America's ultimate financial collapse and that is for Congress to exercise Clause 30 of the "Federal" Reserve Act, buy the outstanding shares of stock, shut down this unconstitutional system and sell off their assets to reimburse the people of this nation for this outright theft of their wealth down through our history."
The Real Evil-Doers--The Federal Reserve
 
2008-12-13 06:32:22 PM
lajimi: HEY, FED!

1. Just who do you think you are working for?
2. Just where do you think the money you hand out comes from?
3. Just who do you think you are to refuse to tell YOUR EMPLOYERS what you are doing?

/Try that in the private sector


Um... they ARE doing it in the private sector. Federal Reserve is no more Federal than Federal Express.

If everyone's in debt, where did all the money go?
 
2008-12-13 06:32:39 PM
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oh, you get the joke by NOW
 
2008-12-13 06:33:25 PM
ZipSplat: Go read! They are a private bank, but they are by no means some autonomous entity that just does whatever it wants.

They are supposed to be answerable to Congress, however, in reality, Congress doesn't have that much authority. From a New York times interview with the presidential candidate that shall not be named:

Q: What is the first thing the country should do about its monetary policy?

A: We should immediately audit the Federal Reserve. I am the ranking member of the Monetary Policy subcommittee in the U.S. Congress, yet I can get more information about the internal workings of the C.I.A. than I can about our central bank. This secrecy is fundamentally wrong, and I believe that people from all over the ideological political spectrum can agree on that.
 
2008-12-13 06:33:32 PM
Here they come, the tin foil hat brigade is storming the thread. Batten down the hatches, we're about to get bukkaked with stupid.
 
2008-12-13 06:35:15 PM
THE FED DID NOT DISCLOSE BECAUSE THE INTERNATIONAL BANKING INDUSTRY OWNS THIS COUNTRY AND BESIDES, "THE FED" IS ACTUALLY A PRIVATELY OWNED BANK. GOOGLE IF YOU'RE NOT A BELIEVER.
 
2008-12-13 06:35:58 PM
Because the Fed is refusing to disclose the recipients, I feel it is my civic duty to make a full disclosure and go on record in saying that I, Dr. Lee, was not the recipient of any of the $2 trillion in emergency loans. Thank you.

/Glad I got that off my chest.
 
2008-12-13 06:37:07 PM
sarcastrophe: ZipSplat: Go read! They are a private bank, but they are by no means some autonomous entity that just does whatever it wants.

They are supposed to be answerable to Congress, however, in reality, Congress doesn't have that much authority. From a New York times interview with the presidential candidate that shall not be named:

Q: What is the first thing the country should do about its monetary policy?

A: We should immediately audit the Federal Reserve. I am the ranking member of the Monetary Policy subcommittee in the U.S. Congress, yet I can get more information about the internal workings of the C.I.A. than I can about our central bank. This secrecy is fundamentally wrong, and I believe that people from all over the ideological political spectrum can agree on that.


You mean the "Usual Suspect" Ron Paul? Yes. He said that...and? What information specifically is Ron Paul looking for that he can't get ahold of?

I'm all for audits, but I've yet to hear Ron Paul make specific and substantiated charges against the Fed. He just repeats the same conspiracy wharrgarbl. He and Cynthia McKinney are about as credible when it comes to making charges of conspiracy as George Bush is credible of making charges of WMDs.
 
2008-12-13 06:37:14 PM
i190.photobucket.com
Don't expect MSNBC's Andrea Mitchell to explain this. She has to work just to make ends meet. If only her husband had a clue about saving for retirement.
 
2008-12-13 06:37:49 PM
ZipSplat: Here they come, the tin foil hat brigade is storming the thread. Batten down the hatches, we're about to get bukkaked with stupid.

Ad hominem attacks, eh? Can't back up your point? To whom does the Federal Reserve answer?

It's certainly not the people. It's not the Congress. Certainly not the executive. The Judicial has no authority. So tell us, who do they answer to?
 
2008-12-13 06:37:50 PM
Linux_Yes: THE FED DID NOT DISCLOSE BECAUSE THE INTERNATIONAL BANKING INDUSTRY OWNS THIS COUNTRY AND BESIDES, "THE FED" IS ACTUALLY A PRIVATELY OWNED BANK. GOOGLE IF YOU'RE NOT A BELIEVER.

(screams)

You're an idiot. It's not that simple.
 
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