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(CNBC)   Since pressuring banks to make loans worked out so well last time, the feds are now pressuring banks to buy up the ever-mounting pile of government debt. This will end badly, and we will be lucky to get out alive   (cnbc.com) divider line 125
    More: Scary, sovereign debt, capital requirements, toxic asset, bankruptcy, minority  
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4090 clicks; posted to Main » on 01 Jun 2012 at 2:21 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-05-31 11:05:35 PM
So are we still pushing the "poor people killed the economy" meme?
 
2012-05-31 11:30:39 PM
That headline is so full of fail I don't even know where to begin.
 
2012-06-01 02:25:30 AM
Dear bankers,

1.bp.blogspot.com

Love,
People that actually pay taxes
 
2012-06-01 02:29:59 AM
CNBC is like Fox News, but with more cheating,stealing and partisanship.
 
2012-06-01 02:30:07 AM
I just need 3-4 semesters of student loans, please, so don't blow up till I've got the schooling out of the way. I promise to do my very best paying them back, since I've never been late on my other loan... (before you ask, major focus of study change, and not using previous criminal justice degree due to long term spinal injury...)
 
2012-06-01 02:30:22 AM
tl;dr

Taxpayers will get screwed either by banking or government interests.
 
2012-06-01 02:33:34 AM

super_grass: tl;dr

Taxpayers will get screwed either by banking or government interests.


Can't be put the heads of one group in spikes and place them in the walls of the other as a warning to not fark the majority of the people?.
 
2012-06-01 02:35:41 AM

super_grass: tl;dr

Taxpayers will get screwed either by banking or government interests.


Will? You mean we haven't already?
 
2012-06-01 02:43:25 AM

ladyfortuna: I just need 3-4 semesters of student loans, please, so don't blow up till I've got the schooling out of the way. I promise to do my very best paying them back, since I've never been late on my other loan... (before you ask, major focus of study change, and not using previous criminal justice degree due to long term spinal injury...)




Lemme see if I've got this right: You're already paying off loans for one degree (that you no long feel you need) and are taking out loans on another degree (with no guarantee you'll be able to use it in this market). Isn't that like trying to dig your way out of a hole?
 
2012-06-01 02:53:15 AM
ACORNGARRBLL!!!
 
2012-06-01 02:55:43 AM
This piece here is the problem:

"Captive bank demand can buy time and can help keep domestic yields low," Lorenzen wrote in an analysis for clients. "However, the distortions that build up over time can sow the seeds of an even bigger crisis, if the time bought isn't used very prudently."

Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"
 
2012-06-01 02:59:20 AM
Nobody gets out alive, submitter.

/climbin' through the wreckage of all my twisted dreams
//this cheap investigation just can't stifle all my screams
 
2012-06-01 03:17:17 AM
Guess those dastardly Republicans are at it again! Can the Liberals ever stop them? NO! WAIT! Say it ain't so! Our god and President and his appointees are the ones pushing this? But this is supposed to be Bush's fault? Some of you Liberal Trolls got some splainin to do...
 
2012-06-01 03:19:15 AM

SomeAmerican: Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"

lh5.googleusercontent.com

fbcdn-sphotos-a.akamaihd.net


The Federal Reserve bankers are buttressing their unfathomable wealth with every dollar the U.S. government spends.

/fbcdn-sphotos-a.akamaihd.net
//http://www.esoterictube.com/the-money-masters.html
/Federal Reserve Act, 1913
 
2012-06-01 03:34:20 AM

urban.derelict: [fbcdn-sphotos-a.akamaihd.net image 552x720]


Sounds really similar to a certain standard based on a metal commonly used for jewelry and electronics.

/hint: the Great Depression was made worse by it.
 
2012-06-01 03:41:01 AM

Gumaraid: Guess those dastardly Republicans are at it again! Can the Liberals ever stop them? NO! WAIT! Say it ain't so! Our god and President and his appointees are the ones pushing this? But this is supposed to be Bush's fault? Some of you Liberal Trolls got some splainin to do...


0/10

You're putting me to sleep over here with all of these cliches.
 
2012-06-01 03:46:24 AM
What world are you living in? Its more like banks pressuring the federal government into buying up the ever mounting pile of bank debt.
 
2012-06-01 03:47:35 AM

urban.derelict: SomeAmerican: Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"
[lh5.googleusercontent.com image 640x279]

[fbcdn-sphotos-a.akamaihd.net image 552x720]

The Federal Reserve bankers are buttressing their unfathomable wealth with every dollar the U.S. government spends.

/[fbcdn-sphotos-a.akamaihd.net image 640x512]
//http://www.esoterictube.com/the-money-masters.html
/Federal Reserve Act, 1913


....sounds like we've got a gold nutter RONPAULbot here. I'm trying to pretend I'm drunk as a rainbow stripped skunk, anyone want to take a stab at this?

(The no inflation bit made me giggle so hard)
 
2012-06-01 03:58:34 AM

urban.derelict: SomeAmerican: Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"
[lh5.googleusercontent.com image 640x279]

[fbcdn-sphotos-a.akamaihd.net image 552x720]

The Federal Reserve bankers are buttressing their unfathomable wealth with every dollar the U.S. government spends.

/[fbcdn-sphotos-a.akamaihd.net image 640x512]
//http://www.esoterictube.com/the-money-masters.html
/Federal Reserve Act, 1913



cdn.dipity.com

What's also interesting is when you realize that the Federal Reserve is really just the new version of the Second Bank of the US. The one that President Jackson killed.

Andrew Jackson was the only president to ever pay off America's national debt.

And he was able to do that by killing the debt based monetary system and issuing US Treasury notes instead of borrowing money from a private bank and immediately plunging the country into inescapable debt.

It took the kleptocratic banking cabal several decades to get their foot back in the door, but they did, in 1913.

And they have been robbing the American people blind ever since.

But as we see the pendulum swinging the other direction again, not for long.
 
2012-06-01 04:00:55 AM

Mrtraveler01: Gumaraid: Guess those dastardly Republicans are at it again! Can the Liberals ever stop them? NO! WAIT! Say it ain't so! Our god and President and his appointees are the ones pushing this? But this is supposed to be Bush's fault? Some of you Liberal Trolls got some splainin to do...

0/10

You're putting me to sleep over here with all of these cliches.


Not my yob to keep you awake. This shiat is way over your head anyway so take another hit on the bong and just let it slide over you.
 
2012-06-01 04:03:57 AM
In medieval Europe kings and noblemen would "borrow" lots of money from Jews (often Jewish communities instead of rich individuals) and then throw a "Jews killed Christ!" pogrom and expel the survivors. Instead of repaying the "loan," you see.

Now we have big banks run by boards of directors who only care about their own financial well-being. Banks where the big shots are not all of one ethnic/religious group, though most big shot bankers are of the same "kind" as most of the rest of the population. And now the country's rulers have much better tools and weapons than the flails of ignorant peasants.

And unlike the old days the value of money is illusory anyway: it's not tied to gold or even slips of paper, it really all boils down to little blips on a monitor screen.

So what's the problem? If the bankers don't like the new improved ways & means of doing business let them switch to flipping burgers or something. Nobody put a gun to their heads demanding they be greedy assholes, did they?

Sheesh. If I can figure this out anybody can.

.
 
2012-06-01 04:12:14 AM
Same for corporations: "If you all are people then you'd better pay your taxes like everybody else. You do realize that we don't have to let you do your capitalist ponzi schemes at all, don't you? Think of it this way: you're paying us to protect you from all the bad things that could happen, like being hung by your feet and pissed on."
 
2012-06-01 04:26:35 AM
The banks, bankers, and corporations do not care that you are aware of how hard they're all screwing you. It's already too late for you to do anything legal about it.
 
2012-06-01 06:25:39 AM

Goodfella: Andrew Jackson was the only president to ever pay off America's national debt.

And he was able to do that by killing the debt based monetary system and issuing US Treasury notes instead of borrowing money from a private bank and immediately plunging the country into inescapable debt.

It took the kleptocratic banking cabal several decades to get their foot back in the door, but they did, in 1913.

And they have been robbing the American people blind ever since.

But as we see the pendulum swinging the other direction again, not for long.


Thank you, yes. (Goodfella... Italian... yes. ;)

To the Derpers: ("lol @ inflation"/"i don't know shiat about shiat but lol at that guy")
fbcdn-sphotos-a.akamaihd.net

/"lol Ben Franklin what a moran!" cmon derpers, lemme hear it
//fbcdn-sphotos-a.akamaihd.net
/because critical thinking... is HARD! f*cking morons
 
2012-06-01 06:29:23 AM

And allow me to kick you while you're down, you f*cking inbreds:

fbcdn-sphotos-a.akamaihd.net


/fbcdn-sphotos-a.akamaihd.net
 
2012-06-01 06:31:03 AM
Rothschild Brothers of London, 1863
"Give me control of a nation's money and I care not who makes it's laws"
- Mayer Amschel Bauer Rothschild
 
2012-06-01 06:32:27 AM
fta:

a Citigroup analysis says.


Like we are going to trust any one of those guys.

As for the headline their subby, this is for EU banks, not US banks.
 
2012-06-01 06:40:04 AM

Mentat: So are we still pushing the "poor people killed the economy" meme?


And if you're not part of the Top 1%, you're poor.
 
2012-06-01 06:48:38 AM

Summercat: ....sounds like we've got a gold nutter RONPAULbot here. I'm trying to pretend I'm drunk as a rainbow stripped skunk, anyone want to take a stab at this?


Congratulations, you're a moron.

For the record, RONPAUL is for the gold standard because the value of gold can't be *easily* manipulated (like, say, the housing market, or the technology market) to provide for artificial wealth which then gets yanked at regular intervals (2008, 2001, respectively) so a small fraction of people/corporations make out like bandits while they scam the ever-living sh*t out of everyone else who based their financial decisions on market value. (See FB IPO)

/derp derp laugh at the... smart people who know how the world operates
//as long as you're talking you're not learning anything, Summerpussy
/now stop being stupid and give me a month of TF for schooling you
 
2012-06-01 07:04:12 AM

urban.derelict: SomeAmerican: Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"
[lh5.googleusercontent.com image 640x279]

[fbcdn-sphotos-a.akamaihd.net image 552x720]

The Federal Reserve bankers are buttressing their unfathomable wealth with every dollar the U.S. government spends.

/[fbcdn-sphotos-a.akamaihd.net image 640x512]
//http://www.esoterictube.com/the-money-masters.html
/Federal Reserve Act, 1913


I am not sure if you have drank the coolaid, but if you are really interested in learning what non-crazy people think of your little theory you may want to start here.

http://en.wikipedia.org/wiki/Executive_Order_11110

There are a number of other errors with your info graphic, but this is the most straightforward to dismiss.

/51% of price being national debt is BS
//as is private bankers and politicians inflating "at will"
 
2012-06-01 07:06:20 AM

cameroncrazy1984: That headline is so full of fail I don't even know where to begin.


Yeah. There's a relevant point in the article about Europeans pushing their banks to buy their now risky sovereign debt through capital rules, but subby took a dump all over it.
 
2012-06-01 08:20:09 AM

urban.derelict: Summercat: ....sounds like we've got a gold nutter RONPAULbot here. I'm trying to pretend I'm drunk as a rainbow stripped skunk, anyone want to take a stab at this?

Congratulations, you're a moron.

For the record, RONPAUL is for the gold standard because the value of gold can't be *easily* manipulated (like, say, the housing market, or the technology market) to provide for artificial wealth which then gets yanked at regular intervals (2008, 2001, respectively) so a small fraction of people/corporations make out like bandits while they scam the ever-living sh*t out of everyone else who based their financial decisions on market value. (See FB IPO)

/derp derp laugh at the... smart people who know how the world operates
//as long as you're talking you're not learning anything, Summerpussy
/now stop being stupid and give me a month of TF for schooling you


I'm tempted to give you said month of TF for making me giggle.

Once, on a whim and curiosity, I went to check the value of all the gold ever mined in the history of the the world, vs world GDP. The math came out to gold's value being about 10% of the world's GDP.

Now, I don't know about you, but I consider money/cash to be the oil in economic engines, straight barter economies being crap diddly, and other economic methods not capitalistic in nature, much less able to work with the political/social/economic systems that we've developed over the last, say, 2000 years.

I don' know much about cars and engines and such, but something tells me trying to run one with 10% of the oil it needs is bad. And no, you can't rejigger the economy and values so that it'll match out. Not without a LOT of short term AND medium term pain, something on hte order of a decade or two. There just simply isn't enough gold to match the world's need for money.

So I generally just giggle at Goldbugs insistance that GOLD IS THE ANSWER! It isn't. That is NOT to say that good portions of what they say are issues aren't, but... that well has long since been poisoned, and many goldnuts want simple (and thus not very useful) economic laws. There's a reason the tax code is huge and complex - we are a huge and complex society.

Now, I'm not entirely on board with interest bearing notes, but I'm not going to rail against them, especially since they've worked for many generations.

//Heh. Summerpussy. Hehehehehe.
 
2012-06-01 08:27:56 AM
Socialize the losses, privatize the profits.
 
2012-06-01 08:29:33 AM

festoon: Mentat: So are we still pushing the "poor people killed the economy" meme?

And if you're not part of the Top 1%, you're poor.


And probably not paying income taxes
 
2012-06-01 08:31:00 AM

cameroncrazy1984: That headline is so full of fail I don't even know where to begin.


It's what we do here now. Didn't you get the memo?

I recommend drinking heavily.
 
2012-06-01 08:42:40 AM

CygnusDarius: Dear bankers,

[1.bp.blogspot.com image 500x250]

Love,
People that actually pay taxes


So, rich people?
 
2012-06-01 08:56:04 AM

SomeAmerican: This piece here is the problem:

"Captive bank demand can buy time and can help keep domestic yields low," Lorenzen wrote in an analysis for clients. "However, the distortions that build up over time can sow the seeds of an even bigger crisis, if the time bought isn't used very prudently."

Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"


If you are an American and don't think that is exactly what will happen then you have had your head lodged firmly in your ass for your entire life.
 
2012-06-01 09:05:20 AM

Summercat: I don' know much about cars and engines and such, but something tells me trying to run one with 10% of the oil it needs is bad....So I generally just giggle at Goldbugs insistance that GOLD IS THE ANSWER!


I used to think that gold was a better answer than oil. Until I tried to run my car using gold for lubrication. Not only was it crazy expensive, it didn't work well at all. My engine siezed after only a few blocks. (And the sound it made was horrible. Like if you put 1000 marbles in a dryer with two cracked out feral cats). I took the car to a mechanic and explained what happened, and told him how I had about 30 oz of gold in my engine and thought that it might be causing the problem. Well the guy was pretty cool. Offered to check it for free. Sure enough, several hours later he calls me and tells me the engine was ruined and I needed a new one. I asked him if he was sure, and he assured me he had taken the whole thing apart to check. When I went to the shop to find out how much a new engine would be, the mechanic wasn't there any more. I asked the manager but he said the guy had just quit.
Weird.
 
2012-06-01 09:09:52 AM
First sentence: "US and European regulators are essentially forcing banks to buy up their own government's debt"

Well, why not? Government bailed the banks out of their stupidity. Now it's time to return the favor.
 
2012-06-01 09:11:21 AM

liam76: There are a number of other errors with your info graphic, but this is the most straightforward to dismiss.


Cry me a f*cking river, i didn't make it, quit picking pepper from fly sh*t and look at the bigger... picture:

Re: Federal Reserve Act of 1913
fbcdn-sphotos-a.akamaihd.net


/opening frame, b*tch
 
2012-06-01 09:12:35 AM

edmo: Well, why not? Government bailed the banks out of their stupidity. Now it's time to return the favor.


Not stupidity; you think tons of senators didn't get kickbacks from the companies they bailed out? I can almost guarantee everyone of them GOT NEW CARS.

/i wish I could beat the stupid out of people
 
2012-06-01 09:20:06 AM

urban.derelict: edmo: Well, why not? Government bailed the banks out of their stupidity. Now it's time to return the favor.

Not stupidity; you think tons of senators didn't get kickbacks from the companies they bailed out? I can almost guarantee everyone of them GOT NEW CARS.

/i wish I could beat the stupid out of people


Lighten up, Francis.
 
2012-06-01 09:44:07 AM

urban.derelict: edmo: Well, why not? Government bailed the banks out of their stupidity. Now it's time to return the favor.

Not stupidity; you think tons of senators didn't get kickbacks from the companies they bailed out? I can almost guarantee everyone of them GOT NEW CARS.

/i wish I could beat the stupid out of people


Modern bribery doesn't work that way...

It's more about campaign war chests being filled, superPACs being funded by banks/rich people, lobbyist/consultancy positions available after retirement.

It's not that I think they're clean, but they're not so stupid (usually) as to do a straight up bribe like that. When you put up at least a front of barrier between briber and bribed there's plausable deniability and (as John Edwards just proved) the pretty certain knowledge that you're going to get away with it. They learned from ABSCAM.
 
2012-06-01 09:46:23 AM

Yugoboy: urban.derelict: edmo: Well, why not? Government bailed the banks out of their stupidity. Now it's time to return the favor.

Not stupidity; you think tons of senators didn't get kickbacks from the companies they bailed out? I can almost guarantee everyone of them GOT NEW CARS.

/i wish I could beat the stupid out of people

Modern bribery doesn't work that way...

It's more about campaign war chests being filled, superPACs being funded by banks/rich people, lobbyist/consultancy positions available after retirement.

It's not that I think they're clean, but they're not so stupid (usually) as to do a straight up bribe like that. When you put up at least a front of barrier between briber and bribed there's plausable deniability and (as John Edwards just proved) the pretty certain knowledge that you're going to get away with it. They learned from ABSCAM.


Just one more reason we need term limits for all elected officials
 
2012-06-01 10:05:44 AM

urban.derelict: SomeAmerican: Does anyone believe that our governments will use the time to improve their fiscal positions? Or is it more likely that our politicians will say "great, now it's a problem for somebody else, so let the free money flow!"
[lh5.googleusercontent.com image 640x279]

[fbcdn-sphotos-a.akamaihd.net image 552x720]

/[fbcdn-sphotos-a.akamaihd.net image 640x512]
//http://www.esoterictube.com/the-money-masters.html
/Federal Reserve Act, 1913


The Federal Reserve bankers are buttressing their unfathomable wealth with every dollar the U.S. government spends.

1.) The Federal Reserve System is not a private entity any more than the post office. It was created by an act of congress and is regulated by congress, the people who are running it are appointed by your congressman just like every other single government agency.

2.) It does not control the money supply, it controls the interest rates that banks and the government can borrow at. The Treasury is the government agency in charge of said supply.

3.) The Fed is required by law to give 97% of all profits back to the federal government and the 3% is used to run it. It gave back around $80 Billion dollars last year.

4.) The Federal Reserve System was created to keep the Federal Government from running out of money. The Panic of 1907 forced JP Morgan to save it because the federal government ran out of money, the thinking in creating the fed was that next time JP Morgan wasn't going to be there to save them and they were right.

5.) A gold back currency is the most easily manipulated currency out there and historically been incredibly difficult to operate under. President Roosevelt used to change the price of gold because he wanted to, rather than what the markets wanted, which was a good thing back then because the markets were f*cked. He would change the price on a whim, now imagine somebody else doing that who isn't elected.

6.) The US is currently borrowing at ~1.67% for 10 years which means the actual rate for borrowing, if you include inflation, is around -18% right now.

7.) If you are going to use something to back up your currency, use salt. It has been used much longer than gold, thousands of years older in fact and it actually has uses for the average man.

8.) The money supply is not free because it is based on the faith and credit of the United States government. A government that came out of civil war holding an election, a first for a democracy, and came out of said war more politically stable which was again a first. It is based on the fact that the United States government can and does anything needs to, no other government has yet to land on the moon and return said people safely or launched probes that have penetrated the solar systems edge and continue to operate after 30 years. It has the federal reserve system which can operate independently of politicians which was a first. It can drop hundreds of billions of dollars onto the market whenever it feels a need to and be taken seriously to prevent serious economic damage.

The Federal Reserve System is the answer to non-democratic money supply issues.


There is nothing that is even remotely factually correct in those graphics outside of the coincidences in the timing of the assassinations that have been proven many times to contain no conspiracies outside of their immediate members.
 
2012-06-01 10:12:42 AM
I bought my house in '96. I was making about $8 an hour at the time. The bank tried talkng me into buying a $200k house. I pointed out that I'd have to be insane to borrow money like that until I found a better job. They said it didn't matter because that's what I qualified for.

Seriously, wtf? How did the housing bubble not happen sooner with that kind of reasoning.
 
2012-06-01 10:13:02 AM
festoon:

Mentat: So are we still pushing the "poor people killed the economy" meme?

And if you're not part of the Top 1%, you're poor.


I make $8376 per year. $698 a month. Do I qualify as poor yet?
 
2012-06-01 10:25:23 AM
beldar.blogs.com

/obligatory
 
2012-06-01 10:54:01 AM

adeist69: ladyfortuna: I just need 3-4 semesters of student loans, please, so don't blow up till I've got the schooling out of the way. I promise to do my very best paying them back, since I've never been late on my other loan... (before you ask, major focus of study change, and not using previous criminal justice degree due to long term spinal injury...)



Lemme see if I've got this right: You're already paying off loans for one degree (that you no long feel you need) and are taking out loans on another degree (with no guarantee you'll be able to use it in this market). Isn't that like trying to dig your way out of a hole?


You have it wrong. I can't use my first (AAS) degree, because I have a back injury that prevents me from becoming law enforcement as I had planned. It's a circumstance situation, not a whim. Also the original loan is small and I don't owe any other money unless you count paying property taxes. Going back to school for IT so that I can get a decent job instead of yet another shiatty retail one at minimum wage seems, to me, to be a good plan, especially if we end up moving later. Computers and servers for businesses aren't going away in my lifetime, I expect.
 
2012-06-01 11:00:44 AM
The One True TheDavid:

I make $8376 per year. $698 a month. Do I qualify as poor yet?

Also I have trouble finding anybody who'll rent to me because I have no credit rating. Not a bad credit rating, that would be okay, but a non-existent one. I've even been accused of giving a false name and/or SSN. They give me blank uncomprehending stares when I say I can't afford credit, regardless of what the fools who try to give me credit cards might think.

Then again a friend who's a lawyer tells me that SSI can't be attached and there's nothing creditors can really do to me but win a judgment on paper. Maybe I should apply for as many credit cards as I can; it might be good for a laugh as well as a new laptop, some decent boots, my first coat in 12 years not bought from a thrift store, a moving company and a pet fee.

As long as I keep avoiding getting evicted (as I have for a couple decades now) these rental agencies would treat me better, right? 'Of course I'm an upstanding guy: last year alone I "borrowed" three times my income!'

By the way, according to whatever genetic markers they can find in my spit I'm 100% white European Caucasian. Yet somehow I can figure out what "predatory lending" and "victim blaming" mean. So yes, the headline sounds racist to me too.
 
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