Noctusxx: 7.7 trillion in what is effectively counterfeit money.

It's all counterfeit money. Don't you people get it yet? The fed spits out confetti, hands it to banks for free, banks use it to leverage actual wealth, they make off with the whole store for what amounts to a handful of Xeroxed twenties and when the countries holding all of that debt come to collect, they prick in the suit points to the prick running the turret lathe and says "get it from him."

The full faith and credit of the American people. That's what's behind these rolls of toilet paper the fed is printing and handing out like thin mints at a hotel desk. That means you signed off on "whatever the fed says" without being asked.

America Inc. is filing bankruptcy, kids. They're moving to a new location. Banks? Banks have ASSETS! There ain't no damn banks. Money is backed by reserves of actual wealth. There ain't no damn money. Ah haha. This is the screen where the game says "insert quarter to play again". This isn't fixable. This is the 1% pimp hand.

Strap in, Prunella. This is end game. And unless you already have more money than God, you already lost. Endlessly parsing the degree of blatant theft is as about as useful as tracking the blood stain trail at a crime scene when the victim already has an ME's thermometer in his liver.

Let's review.

Money IS the government.

Money is printed to the point of it being nothing more than trillions in IOUs with nothing behind them.

This money is handed to banks to leverage actual wealth with. (Pro tip - Wealth has weight and takes up space.) So, QED, who is the government? The people who have the money are the government. Rothschild had a point, yo.

This is literally legalized theft. The Fed just gave over 12 billion dollars in guaranteed profits to the banks, but nothing will ever be done about this because it's too complex for average people to understand.

It amazes me that people are stupid enough to hear the $7.7t number and actually think that amount is what is outstanding. These were all collateralized loans and each short-term loan is counted in that 7.7t.

So if you loan $10m on a daily basis to 1,000 banks for two years, you get to $7.3t even though at no point is more than $10b outstanding. (10*1,000*365*2).

Read this article: total outstanding as of 11/30 is about $10b.

Link (new window)

I just wonder how much of the money invested in treasuries is actually a percent of what the banks needed for theoretical money on hand. There was a change in the holding rate as a result of the banking crash at this time and the banks were required to hold more cash. TARP for the most part made up most of the new requirements. You are forced to hold more cash and/or have it easily liquidable and safe I would put it in treasuries.

B-buh the banks weren't greedy f*cks, it was the people buying HOUSES...derpity derpity doo...

Whatever happened to the whole "audit the fed" thing? This really shouldn't surprise anyone; our society is addicted to the idea of the free market, so much so that we'll actually hand out money to private enterprise, without regard to efficacy or efficiency, just to maintain a veneer of "the private sector" at work. Ridiculous the lengths we go to in order to keep the idea alive. That money could have really made a difference if spread into the economy. Instead, it just grew our national debt and made the banksters richer.

BigTuna: I have been repeatedly assured by Fark Independents™ that the banks have paid back their TARP loans so there's nothing to be angry about.

Don't be a dumbass. Liberals supported TARP. Fark Independents, like Republicans, were against it only after it's assured passage.

Grand_Moff_Joseph: Makh: Grand_Moff_Joseph: how dare they change Coke cans from Red to White! And all so they can put polar bears on them??! This is an outrage!!

Oh, they did that too!? Oh, that is it! How cares about trillions of dollars when you can spend them only on white coke cans? I don't want to live on this planet anymore!

It could have been worse - they could have replaced Pepsi with Crystal Pepsi. Then we'd all be doomed.


/for the record, I miss Crystal Pepsi

Me too, my friend. Me too.

Some dude pooped on a police car so this actually never happened, nice try libtards.

Debeo Summa Credo: It amazes me that people are stupid enough to hear the $7.7t number and actually think that amount is what is outstanding. These were all collateralized loans and each short-term loan is counted in that 7.7t.

So if you loan $10m on a daily basis to 1,000 banks for two years, you get to $7.3t even though at no point is more than $10b outstanding. (10*1,000*365*2).

Read this article: total outstanding as of 11/30 is about $10b.

Link (new window)

Very interesting - makes a bit more sense now.

Still doesn't help with the fact that the Fed loaned banks money at rock-bottom interest rates, and then the banks loaned the Fed the same money at 3%.

By the way, Republicans love to scream about taxes being the ultimate in wealth redistribution. I'm sorry, but you're just flat out wrong. These rich bankers getting 7 TRILLION dollars in free money is the largest income redistribution towards any one side that has ever happened in all of history.

Debeo Summa Credo: It amazes me that people are stupid enough to hear the $7.7t number and actually think that amount is what is outstanding. These were all collateralized loans and each short-term loan is counted in that 7.7t.

The anger is about whether or not loans were made - the assumption is that they're being paid back, otherwise they wouldn't be called "loans" - it's about the fact that they were loaned at 0% interest, the money then turned around and invested in US bonds for 3% interest, and then repaid. The banks were essentially given free money to invest and then got to keep all of the profits. That's why we're pissed.

qorkfiend: Debeo Summa Credo: It amazes me that people are stupid enough to hear the $7.7t number and actually think that amount is what is outstanding. These were all collateralized loans and each short-term loan is counted in that 7.7t.

So if you loan $10m on a daily basis to 1,000 banks for two years, you get to $7.3t even though at no point is more than $10b outstanding. (10*1,000*365*2).

Read this article: total outstanding as of 11/30 is about $10b.

Link (new window)

Very interesting - makes a bit more sense now.

Still doesn't help with the fact that the Fed loaned banks money at rock-bottom interest rates, and then the banks loaned the Fed the same money at 3%.

Citation please on the 3% overnight. No farking way they made 3% investing for the same term that they borrowed.

whidbey: B-buh the banks weren't greedy f*cks, it was the people buying HOUSES...derpity derpity doo...

Oh please. The economy went to hell because a huge portion of the country got suddenly lazy all at once.

Grand_Moff_Joseph: So the Fed gives dollar bills to the banks at 0% interest. The banks turn around and use most of that same money to buy Treasury bonds at a nearly 3% yield, while sitting on the rest of it and allowing it to gain regular interest yields.

If they had any left over, they were happy to lend it out at the going rates, which even at a low of 2% is still a 200% profit over what they originally borrowed it for!

If there ever was an issue that should get the OWS and TP folks to put down the silly signs, stop the dumb hyperbolic chants and attack the REAL source of the problems, this IS IT.

If you can

1) Condense that into a slogan you can put on a poster board or bumper sticker

and

2) Have people actually understand it

then you can whip people up over it. Maybe. If there isn't anything good on TV and they don't have to stand next to some weirdo.

Shoulda' done like the Swedes done in similar situation - basically trade cash for stock.

CorporatePerson: whidbey: B-buh the banks weren't greedy f*cks, it was the people buying HOUSES...derpity derpity doo...

Oh please. The economy went to hell because a huge portion of the country got suddenly lazy all at once.

American (Day)dream?

odinsposse: Grand_Moff_Joseph: So the Fed gives dollar bills to the banks at 0% interest. The banks turn around and use most of that same money to buy Treasury bonds at a nearly 3% yield, while sitting on the rest of it and allowing it to gain regular interest yields.

If they had any left over, they were happy to lend it out at the going rates, which even at a low of 2% is still a 200% profit over what they originally borrowed it for!

If there ever was an issue that should get the OWS and TP folks to put down the silly signs, stop the dumb hyperbolic chants and attack the REAL source of the problems, this IS IT.

If you can

1) Condense that into a slogan you can put on a poster board or bumper sticker

and

2) Have people actually understand it

then you can whip people up over it. Maybe. If there isn't anything good on TV and they don't have to stand next to some weirdo.

qorkfiend: Debeo Summa Credo: It amazes me that people are stupid enough to hear the $7.7t number and actually think that amount is what is outstanding. These were all collateralized loans and each short-term loan is counted in that 7.7t.

So if you loan $10m on a daily basis to 1,000 banks for two years, you get to $7.3t even though at no point is more than $10b outstanding. (10*1,000*365*2).

Read this article: total outstanding as of 11/30 is about $10b.

Link (new window)

Very interesting - makes a bit more sense now.

Still doesn't help with the fact that the Fed loaned banks money at rock-bottom interest rates, and then the banks loaned the Fed the same money at 3%.

Old and busted: 0% loan
New hotness: -3% loan

Now with math^TM