Take a peek at these two charts released from the FED today and tell me what you see. | |
Anonymous Coward User ID: 326376 United States 05/14/2008 05:36 PM Report Abusive Post Report Copyright Violation | So? Pay off debts, credit cards and mortgages and put your money in your mattress while you can still get it out of banks? Quoting: Anonymous Coward 366085Mayy be better to trade you worthless money for gold or silver ( even though some people will realize it is of no use when they can't eat it. Or better yet replace it with valuable and needeed commodities like food, ammo toilet paper, tools, medicines, vitamins, and other things that you would need , nails, lumber, an acre of land next to your place, a plow thelist of things to replace your money with is endless. but i like ammo and TP and chow best...batteries lanterns and kerosens or coleman fuel and mantles if you have gas lanterns as well as some really good lights like maglites with lotsa batteries. Get creative and don't forget fem-hyg supplies as they won't be making them anymore maybe never again. Please overlook typos i am not illiterate just have fat fingers.... |
xkcd User ID: 433145 United States 05/14/2008 05:42 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 433173 United States 05/14/2008 05:44 PM Report Abusive Post Report Copyright Violation | WASHINGTON — Big investment banks took the Federal Reserve up on its first-time offer Thursday to let them borrow Treasury securities, the latest effort to ease a painful credit crisis. Quoting: Ricker 426989The Federal Reserve auctioned $75 billion worth of Treasury securities. Bidders paid an interest rate of 0.33%. Demand was high. The Fed received bids of $86.1 billion worth of the securities. This right here changed the game Omega. FED: Tighter mortgage loan rules could revive confidence LOCKHART: It looks like the beginning of a recession It was the first time the Fed conducted an auction of this kind. The next one will be held April 3. The program, dubbed the Term Securities Lending Facility, was announced earlier this month by the Fed and is intended as a booster shot for financial institutions and for the troubled mortgage market. The Fed said it would make as much as $200 billion worth of Treasuries available through weekly auctions that started Thursday. FIND MORE STORIES IN: Federal Reserve | Treasury | Treasuries | Term Securities Lending Facility Big Wall Street investment firms could borrow much-in-demand Treasury securities from the Fed and put up more risky investments, including certain shunned mortgage-backed securities as collateral for the 28-day loans. The program is designed to make investment houses more inclined to lend to each other. It also is aimed at providing relief to the distressed market for mortgage-linked securities. Questions about their value and dumping of these securities have driven up mortgage rates, aggravating the housing crisis. Since the Fed's announcement of this new program, rates on some mortgages have eased somewhat. Hm, 86 Billion, seems to be the same number as what the charts show. I would say the charts reflect the numbers change caused by the new policy. I really don't think it a sign of doom as Omega claims, unless you're saying the policy is some sort of suicide? |
Anonymous Coward User ID: 408056 United States 05/14/2008 05:50 PM Report Abusive Post Report Copyright Violation | Oh shit. Quoting: OmegaSo I guess that just about it folks. Good luck out there. Yeah bro that's just about it. From here on out....it's gonna get ugly..... Since the old currency is worthless, stand by for the introduction of new currency sooner than later. |
Anonymous Coward User ID: 254879 United States 05/14/2008 06:06 PM Report Abusive Post Report Copyright Violation | This crisis will be over when the banks start lending again without care. This will flood the regular people with money that we can spend on bullshit. The fed "saving" these banks will do nothing if all they can do is pay back the fed and not lend to the regular folks. The whole exercise will be pointless. |
Anonymous Coward User ID: 426989 United States 05/14/2008 06:09 PM Report Abusive Post Report Copyright Violation | WASHINGTON — Big investment banks took the Federal Reserve up on its first-time offer Thursday to let them borrow Treasury securities, the latest effort to ease a painful credit crisis. Quoting: Anonymous Coward 433173The Federal Reserve auctioned $75 billion worth of Treasury securities. Bidders paid an interest rate of 0.33%. Demand was high. The Fed received bids of $86.1 billion worth of the securities. This right here changed the game Omega. FED: Tighter mortgage loan rules could revive confidence LOCKHART: It looks like the beginning of a recession It was the first time the Fed conducted an auction of this kind. The next one will be held April 3. The program, dubbed the Term Securities Lending Facility, was announced earlier this month by the Fed and is intended as a booster shot for financial institutions and for the troubled mortgage market. The Fed said it would make as much as $200 billion worth of Treasuries available through weekly auctions that started Thursday. FIND MORE STORIES IN: Federal Reserve | Treasury | Treasuries | Term Securities Lending Facility Big Wall Street investment firms could borrow much-in-demand Treasury securities from the Fed and put up more risky investments, including certain shunned mortgage-backed securities as collateral for the 28-day loans. The program is designed to make investment houses more inclined to lend to each other. It also is aimed at providing relief to the distressed market for mortgage-linked securities. Questions about their value and dumping of these securities have driven up mortgage rates, aggravating the housing crisis. Since the Fed's announcement of this new program, rates on some mortgages have eased somewhat. Hm, 86 Billion, seems to be the same number as what the charts show. I would say the charts reflect the numbers change caused by the new policy. I really don't think it a sign of doom as Omega claims, unless you're saying the policy is some sort of suicide? The difference is investment banks aren't FDIC banks. It's a whole new ball game. There are no rules or regulations anymore. In traditional economics, this would mean disaster, but traditional economics don't apply anymore. |
Anonymous Coward User ID: 75313 United States 05/14/2008 07:16 PM Report Abusive Post Report Copyright Violation | Alright, i went a few pages in and couldn't find it.. Could someone just explain what the charts mean literally, and replies like "it means were fucked" and "it means so-and-so is having a bad day". No euphemisms, just please try to explain it to me... |
gsbltd User ID: 433226 United States 05/14/2008 08:08 PM Report Abusive Post Report Copyright Violation | |
Omega (OP) User ID: 361618 United States 05/14/2008 08:11 PM Report Abusive Post Report Copyright Violation | Alright, i went a few pages in and couldn't find it.. Quoting: Anonymous Coward 75313Could someone just explain what the charts mean literally, and replies like "it means were fucked" and "it means so-and-so is having a bad day". No euphemisms, just please try to explain it to me... It's real simple. The major banks have no reserves (IE: INSOLVENT) so in a desperate attempt to prevent an absolute TOTAL systemic meltdown the FED opens up the TAF discount window and takes junk collateral in exchange for bigtime cash loans to save the major banks and the system. Of course the banks have to make good on these loans months out, however the Fed is not concerned as they only have to pimp it until the elections, and the next POTUS goes down as the biggest sucker that ever lived as now as the system crashes on his watch..... Hahahahhahahhaha..... Simple but brilliant..... Have a nice day..... Handguns are a skill; shotguns an art; rifles a science. _____________________________________ Democracy is two wolves and a sheep voting on whats for dinner. Disarmament is the precursor to Genocide. Better to take action now rather than chances later. Your choice. |
Stop the Banksters User ID: 193848 United States 05/14/2008 08:57 PM Report Abusive Post Report Copyright Violation | This highlights the real problem with our current monetary system. The only way money goes into circulation is through new bank loans. When the loans are paid off that money disappears. The solution is simple but not likely to happen: Congress abolishes the Federal Reserve and starts printing it's own money, interest free. All debts owed to the Fed and associated banks would be cancelled or greatly discounted. All other debts would be paid back in the new dollars. The amount of interest-free dollars would be tied to the GDP to prevent inflation or deflation. Ron Paul is the only candidate talking about abolishing the Fed. When John F. Kennedy tried it in 1963, well you know what happened. |
Anonymous Coward User ID: 368888 United States 05/14/2008 09:09 PM Report Abusive Post Report Copyright Violation | Alright, i went a few pages in and couldn't find it.. Quoting: OmegaCould someone just explain what the charts mean literally, and replies like "it means were fucked" and "it means so-and-so is having a bad day". No euphemisms, just please try to explain it to me... It's real simple. The major banks have no reserves (IE: INSOLVENT) so in a desperate attempt to prevent an absolute TOTAL systemic meltdown the FED opens up the TAF discount window and takes junk collateral in exchange for bigtime cash loans to save the major banks and the system. Of course the banks have to make good on these loans months out, however the Fed is not concerned as they only have to pimp it until the elections, and the next POTUS goes down as the biggest sucker that ever lived as now as the system crashes on his watch..... Cool, means we have a few months before everything crashes around our ears! Thanks! |
Fraudulent Reserve Scam User ID: 193848 United States 05/14/2008 09:12 PM Report Abusive Post Report Copyright Violation | This highlights the real problem with our current monetary system. The only way money goes into circulation is through new bank loans. When the loans are paid off that money disappears. Quoting: Stop the Banksters 193848The solution is simple but not likely to happen: Congress abolishes the Federal Reserve and starts printing it's own money, interest free. All debts owed to the Fed and associated banks would be cancelled or greatly discounted. All other debts would be paid back in the new dollars. The amount of interest-free dollars would be tied to the GDP to prevent inflation or deflation. Ron Paul is the only candidate talking about abolishing the Fed. When John F. Kennedy tried it in 1963, well you know what happened. Lincoln also tried abolishing the central bank by printing interest-free US dollars in 1863 and, well you know what happened. Let that be a lesson for any politician who dares to interfere with the Fraudulent Reserve System, the biggest bank robbery in history. |
John Oldman User ID: 324511 United States 05/14/2008 09:33 PM Report Abusive Post Report Copyright Violation | The Fed and the other central banks are the ultimate money launderers. Not only do they skim your wealth away for the NWO's gains....they back the elite on wall street and the largest banks...what most fail to talk about is how the privately owned fed charges our own government interest for doing business....ie nation debt...they're quite analogous to the health insurance companies laundering money and corrupting the health industry.....it all boils down to money being the root of all evil....and these greedy bastard will stop at nothing at corrupting everything that is discussed at this forum..If there was a run on the banks right now...the average american's life would be thrown into chaos and unbearable strife...so it's best to sit tight and ride it out.. |
Anonymous Coward User ID: 432813 New Zealand 05/14/2008 10:30 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 372844 United States 05/14/2008 10:49 PM Report Abusive Post Report Copyright Violation | Isn't a troll just an ugly Oompa? Righ on Omega - thanks for posting truth for us to see with our own eyes ... keep on with the good work your doing here and plz don't be deterred by shills & trolls. Quoting: Gis 359500Those Fed Reserve charts confirm what insiders have been warning over the past couple of months. Here's a video of a CNBC Interview with a global big-finance "insider" last month who warned that at least 1/3 US banks were actually going insolvent ... hearing that being broadcasted on CNBC that day really blew my mind. I took time to transcribe the whole thing in "notes" for those with dial up service and can't watch videos - see below: ======================= CNBC EXCLUSIVE: "PARADE OF POTENTIAL HORRIBLES" April 21, 2008 [link to www.cnbc.com] An outlook on the global economy, with Thomas Barrack, Colony Capital Chmn. & CEO and CNBC's Erin Burnett. [NOTE: EB: Erin Burnett / TB: Tom Barrack ] "INTRO" EB: We didn't want to make you wait for this one... [Image: “PARADE OF POTENTIAL HORRIBLES"] It was too good to save. And I must say it is not our name - it is the name of the man you're going to see in a couple of moments. Here's part of the Parade: >Real Estate --- not near the bottom. >The Market --- not near the bottom either. >And a third of America's regional banks could collapse. >Oh yeah, and our banking system may be on the brink of insolvency. Are you feeling a bit nervous yet? Looking for a bridge to jump from? Let's talk to the man leading the Parade; Tom Barrack with us, Chairman of CEO of Colony Capital Private Equity Fund with about $40 Billion in assets under management, joins us with Rome ... from Rome. Tom Barrack joins us, as I said; he's the man meeting with Mr. Putin and Mr. Berlusconi. ~~~~~~~~~~~``` TB: All right Tom, I know you have a sense of humor so I can make a joke about some of the comments you recently made to Paris Match. But I have to say when I hear someone like you saying a third of this country's regional banks could go under, I am worried. Is this an Armageddon-like fear? TB: Erin, I... I don't know if it's Armageddon but what, what I'm sure of is it's mass confusion. [IMAGE: "Barrack - Market has Hit a False Bottom"] So if you look at what's happening in the financial world in general, everybody’s without a point of view. [IMAGE: "Real Estate Markets are Not Near the Bottom"] And everybody's without a point of view because we're applying a very complex set of rules: Mark to Market - Fair Value - Capitol Regulatory Rules of Tier 1 and Tier 2. And the only 3 people that understand anything about what any of that is are captured in a NASA satellite somewhere near Mars (he is grinning at joke). [IMAGE: "Americans Live on Credit, Especially on Consumer Spending"] EB: (laughs) TB: So when you apply those rules equally and homogenically (sp) across all banks. [IMAGE: Dow Graph] I mean Bear Sterns got captured 24 hours short of what would have been a bottomless pit for most banks. So I think that the problem is not when they are going to go bankrupt. The problem is that at some point in time there needs to be a floor. And everybody's searching for the floor. And everybody so far has been wrong. [IMAGES: KBW Bank Index / S&P 500 Chart] >Every capitol infusion to date has been early. >Every write-down has not been enough. >Every reserve which is just a paper notation has been insufficient I think everybody is without a point of view. EB: So what does this mean, Tom. I mean obviously you talk about some of the things that could go wrong. [IMAGE: “Commodities Boom: >Oil to New Records >Gold Prices Soaring"] While we don’t have a bottom, everything is going to keep falling, like you said, until someone catches the knife and it's the right time to do it. [IMAGE: “Barrack is the Primary Shareholder in Accor“] So what are you doing right now? Look, you travel the world, you invest in real estate and other things, everywhere. You have big stakes in Carrefour - one of the biggest retailers of the world. Are you just sitting back ... are you buying anything? [Image: "NO END IN SIGHT -- Dollar Dropping / Housing Prices Falling / Consumer Confidence Eroding"] TB: We... we are. But it's, it's a very ... a very cautious time. And of course it's a 'Tale of Two Cities'. You have corporate earnings and globally-oriented corporate entities that are actually doing real well. Even at the real estate level, if you take American and the RBS and CNBS traunches (sp) at the asset level, the assets are actually performing okay. EB: Right TB: The default rate at the asset level has not yet turned up. [IMAGE: Personal Spending Graphic] It's, it's the virtual stuff ... the CDO's, the CLO's, the CMO's; the trading pieces of paper that got caught. So what, what we're doing, is we're saying for us, the opportunity is that we're buying mis-priced assets. [IMAGE: Consumer Confidence Graph] And at the end of this... whether the banking system gets worse, which it's appearing every day . You have Citi-National ... you have Bank of America takes a $5 Billion hit ... $3.8 Billion in reserves and the stock barely goes down. I don't know what it ended up today - maybe 1%. So people say its a dislocation. I look at it and say maybe it's a relocation. And if it's a relocation, eventually everybody's going to have to deal with the assets at the end of the day. [Image: Bank of America Graph] So the irony of all this is that you have a homeowner and the homeowner’s sitting at one point, let's say, with a $100-thousand dollar house and they borrowed $90-thousand. [Image: Fed Funds Target Rate] And now the bank has written the loan down to $50 thousand. And everybody's talking about the deleveraging of the banks. So the bank lost $40 (thousand). But the homeowner is sitting here saying, “not only has the bank lost 40 but I lost my $10(thousand) but now do I have an opportunity to buy thought the house that I thought was worth a $100(thousand) at $50(thousand)?” [IMAGE: Colony Capital current Manages $39 Billion in Assets] And the answer is absolutely NO. In fact, the bank hardly knows who the borrower is. EB: Right. TB: We call them counterparties - we don't call them borrowers. At the end of the line, somebody's going to have deal with the assets. We'll just wait, wherever it is, and try and find exits and mechanisms to deal with the assets. And in the meantime... (illegible when EB interrupts) EB: So you're actually... TB: ...on a global basis. EB: Tom, I'm just briefly... TB: Sorry... EB: So you're actually going in for some of those assets? Even though you think prices are going to come down further in real estate? You're talking about that gap. You think that there are real estate assets, you know, that sophisticated investors can get in on - although, as you said, but not the individual homeowner? [IMAGE: "Barrack has 9.1% in Capital in Carrefour"] TB: Absolutely ... because banks always follow the same cyclical pattern. Right now, the old CEO gets fired because the market turned down. The new CEO comes in and the first drill is take as many write-off's as fast as you can against your capitol base so that you bolster Tier 1 and Tier 2 capitol. And as the market turns back up, book profits against those reserves. To book profits they have to sell assets. When they sell those assets at a discount, somebody has to buy them and then go do something with the borrowers. The problem today is because of the complexity of all these derivatives… EB: Right TB: ... the techniques and the expertise to deal with the borrowers is, is very rare. So that's what we're going to concentrate on - at scale - with the banks, with the assets, and with the borrowers. [IMAGE: Barrack - “Could have 1,000 Regional Banks Collapse“] EB: Okay, so you're going for those assets. And briefly, because I interrupted you to clarify that point. You said globally and you were going to finish you sentence about buying around the world. And in a nutshell that is? TB: Yeah, and so you, you have a number of things. [IMAGE: “Colony Capital currently Manages $39Billion”] You have denial in a place such as Europe, which really has looked at decoupling... originally hoping that this was just an American housing problem. And you have social problems. Italy being a great example. You have Silvio Berlusconi ... you know. In Italy we now say "we have clouds but we have a Silvio lining." And you have this statism going on with great leaders like Berlusconi, Sarkozy, Putin. [IMAGE: Clips of various individuals being named] And you have an alignment of interest. So Putin coming to see Berlusconi in Sardinia was not just because they're friends, which they are. And not just because they happen to be unbelievable charismatic leaders, which they are. But Russia supplies 30% of all the gas to Europe. Italy happens to have 'Eni'and 'Enel'; 2 of the largest energy companies in Europe. And these alliances are going on everywhere. You see 'Eni' now with Qatar; you see 'Eni' in Nigeria. You see Libya, Russia and Italy putting together coalitions. But the growth in the world is the East. It's Russia, the Middle East, India, And China. EB: Uh hum. TB: So, in the West you have relocation of assets and mis-pricing and maybe it's dislocation - maybe it's relocation. And its getting rid of the notion that all of us as Americans had saying that the way to get rich is off your single-family dwelling. That notion didn't exist anywhere else in the world. EB: All right, well Tom, thank you so much. We appreciate it as always. Tom has a lot of thoughtful and interesting commentary for us. And I'm sure that many people thought those comments on the world leaders were interesting. / End |
Anonymous Coward User ID: 433284 United States 05/14/2008 10:52 PM Report Abusive Post Report Copyright Violation | |
money walks User ID: 193848 United States 05/14/2008 11:00 PM Report Abusive Post Report Copyright Violation | should we withdrawal our money? Quoting: Anonymous Coward 433284Your money's not going anywhere as long as it's in an FDIC account. Make sure you have a current balance statement on paper. A certain amount of cash would be good to have on hand in case a bank "holiday" is declared. But money isn't paper anymore, just numbers in a computer. |
Anonymous Coward User ID: 433296 United States 05/14/2008 11:36 PM Report Abusive Post Report Copyright Violation | I have about 16,000 in a retirement account. Should I withdraw all of it? I'm wondering how much taxes would come out of it. I'll be 70 yrs old in Sept. Quoting: Anonymous Coward 432524Anyone know or can give advise? Thanks If I were you, I'd read all the thread, read all the links ... and I'd take my money and run. Good Luck :-) +1 ^ I was in the same situation last summer. I cashed in, took the taxes/penalties hit of ~30%, and the entirety of what was left paid off/down a few debts. I am a couple of decades behind you on the "life experience" curve. I figured I'd never see that money/"retirement" anyway, might as well go with a sure thing. For some reason I keep hearing my dear grandmother's voice tonight: "Life is uncertain; eat desert first!" |
loosecannon User ID: 433316 United States 05/15/2008 12:32 AM Report Abusive Post Report Copyright Violation | Sounds like you are a conformist dumbass. Watch American Idol much idiot???? Quoting: OmegaI suggest you take a good long look at the books of Citi, JP Morgan, Countrywide, Wamu, Wachovia, BOA, and tell me what you see. They are sucking off the tit of the Fed via the TAF on a daily basis. Northern Rock, Royal Bank of Scotland??? AIG????? All toast you fucking idiot. This issue permeates GLOBAL banks and markets.... Get real, and grow the fuck up....... I don't watch any TV at all, am older, wiser and less conformist than you will ever be and have 10 times the grasp of the economy that you will ever have chump. You are just a completely uninformed alarmist without enough sense or info to understand how delusional you are. Nobody can help the ignorant. So I suggest that you hire informed people to advise you about your money management strategies. You know what they say about a fool and his money. Provided you have any. If you weren't such a self obsorbed juvenile prick I might bother to eductate you, but you simply aren't worthy. Asshat. |
dookie stain User ID: 317540 United States 05/15/2008 12:33 AM Report Abusive Post Report Copyright Violation | Good info...tho I don't know omega his troll or shills...Its fairly obvious to me that I needed to take action...since last fall I been making drastic changes....changes that a few years ago would seem crazy...but when times are crazy...crazy changes are prudent...my actions will be seen to be genius when the economy goes tits up...that or my family will have me committed.... |
Enlilson User ID: 429442 United States 05/15/2008 12:46 AM Report Abusive Post Report Copyright Violation | Sounds like you are a conformist dumbass. Watch American Idol much idiot???? Quoting: loosecannonI suggest you take a good long look at the books of Citi, JP Morgan, Countrywide, Wamu, Wachovia, BOA, and tell me what you see. They are sucking off the tit of the Fed via the TAF on a daily basis. Northern Rock, Royal Bank of Scotland??? AIG????? All toast you fucking idiot. This issue permeates GLOBAL banks and markets.... Get real, and grow the fuck up....... I don't watch any TV at all, am older, wiser and less conformist than you will ever be and have 10 times the grasp of the economy that you will ever have chump. You are just a completely uninformed alarmist without enough sense or info to understand how delusional you are. Nobody can help the ignorant. So I suggest that you hire informed people to advise you about your money management strategies. You know what they say about a fool and his money. Provided you have any. If you weren't such a self obsorbed juvenile prick I might bother to eductate you, but you simply aren't worthy. Asshat. It doesn't matter who I m it's who U R so ChoOse |
loosecannon User ID: 433316 United States 05/15/2008 12:50 AM Report Abusive Post Report Copyright Violation | TO ANYBODY WHO IS PAYING ANY ATTENTION TO THE THREAD PREMISE AND MAKING LIFE CHOICES BASED ON IT: Omega is a complete idiot when it comes to economics. I know nothing at all about Omega beyond this alarmist and deceptive thread. But this thread is about a myth, not a reality. I caution anybody against taking the alarmism or the thread parent seriously. He and the conclusiuons of the thread are purely bogus. Don't take financial advice from chat room goons who don't know their ass from reality. Listen to seasoned pros whether they be contrarian gold bugs, Libertarians, populists, Ron Paul or Wall Street insiders. At least those folks know the ropes. Or trust yourself before you trust complete idiots like Omega. Omega is a complete know nothing. His conclusions are no foundation at all to base your life decisions upon. I would never give you bad advice about something as serious as your financial well being. I won't even ask you to believe my POV. And i won't issue advice about how you should manage your finances online. Anybody who does is suspect. |
loosecannon User ID: 433316 United States 05/15/2008 12:54 AM Report Abusive Post Report Copyright Violation | Ok so let here you economic grasp of this with out bashin the OP. If you have nothing STFU Quoting: Enlilsonscroll back a few pages child and read my responses. If you want to understand the Fed charts I laid it out and other economists validated my conclusions. Omega is no economist. He is an economic cartoon. |
Anonymous Coward User ID: 422790 United States 05/15/2008 01:46 AM Report Abusive Post Report Copyright Violation | TO ANYBODY WHO IS PAYING ANY ATTENTION TO THE THREAD PREMISE AND MAKING LIFE CHOICES BASED ON IT: Quoting: loosecannonOmega is a complete idiot when it comes to economics. I know nothing at all about Omega beyond this alarmist and deceptive thread. But this thread is about a myth, not a reality. I caution anybody against taking the alarmism or the thread parent seriously. He and the conclusiuons of the thread are purely bogus. Don't take financial advice from chat room goons who don't know their ass from reality. Listen to seasoned pros whether they be contrarian gold bugs, Libertarians, populists, Ron Paul or Wall Street insiders. At least those folks know the ropes. Or trust yourself before you trust complete idiots like Omega. Omega is a complete know nothing. His conclusions are no foundation at all to base your life decisions upon. I would never give you bad advice about something as serious as your financial well being. I won't even ask you to believe my POV. And i won't issue advice about how you should manage your finances online. Anybody who does is suspect. Hammer meet nail! Spot on post though a shame it's even necessary, that anyone would seriously consider the needy self-important rantings of a woowoo wannabe survivalist in making what should be INFORMED financial decisions. Folks, take loosecannon's advice, seek well-rounded counsel in deciding what you should do with your finances. |
Anonymous Coward User ID: 433308 United States 05/15/2008 01:47 AM Report Abusive Post Report Copyright Violation | Another false alarm, doomtards. [link to calculatedrisk.blogspot.com] OP has been crying wolf about a financial meltdown for months now and is always wrong. |
Anonymous Coward User ID: 422790 United States 05/15/2008 02:12 AM Report Abusive Post Report Copyright Violation | Another false alarm, doomtards. Quoting: Anonymous Coward 433308[link to calculatedrisk.blogspot.com] OP has been crying wolf about a financial meltdown for months now and is always wrong. Nice catch. LOL Though perhaps this is not the best place but it is a good time to ask WHY the op has the need to cherry pick and scramble for any shred of evidence that might support his half-baked lock 'n load doomsaying. With people like that, I wonder who they are trying more to convince, us or themselves. |
Anonymous Coward User ID: 433366 Russia 05/15/2008 04:17 AM Report Abusive Post Report Copyright Violation | This is NOT going to bankrupt the banks....this program is like a giant hoover that sucks up all the bad paper that the banks want to get rid of. Again the Federal Reserve plays with words saying that to use the TAF you must use some kind of ASSET as collateral, including mortgage backed securities (or whatever else they feel like). So the banks with bad paper go to the TAF, get money, and if they fail to pay back the loans the federal reserve seizes the assets they put up as collateral, which were never really assets in the first place. but they still keep the money. In essence the Fed is paying banks to be their garbage collection service. |
Anonymous Coward User ID: 433397 Spain 05/15/2008 07:07 AM Report Abusive Post Report Copyright Violation | This is NOT going to bankrupt the banks....this program is like a giant hoover that sucks up all the bad paper that the banks want to get rid of. Again the Federal Reserve plays with words saying that to use the TAF you must use some kind of ASSET as collateral, including mortgage backed securities (or whatever else they feel like). So the banks with bad paper go to the TAF, get money, and if they fail to pay back the loans the federal reserve seizes the assets they put up as collateral, which were never really assets in the first place. but they still keep the money. In essence the Fed is paying banks to be their garbage collection service. Quoting: Anonymous Coward 433366"seizes assets that were never really assets?" If that's not bankrupt then what is? |
Enlilson User ID: 429442 United States 05/15/2008 08:29 AM Report Abusive Post Report Copyright Violation | This is NOT going to bankrupt the banks....this program is like a giant hoover that sucks up all the bad paper that the banks want to get rid of. Again the Federal Reserve plays with words saying that to use the TAF you must use some kind of ASSET as collateral, including mortgage backed securities (or whatever else they feel like). So the banks with bad paper go to the TAF, get money, and if they fail to pay back the loans the federal reserve seizes the assets they put up as collateral, which were never really assets in the first place. but they still keep the money. In essence the Fed is paying banks to be their garbage collection service. Quoting: Anonymous Coward 433397"seizes assets that were never really assets?" If that's not bankrupt then what is? They would be the owners of the homes and I am not too sure this has been discussed let alone being a good idea. It doesn't matter who I m it's who U R so ChoOse |
Anonymous Coward User ID: 432875 United States 05/15/2008 09:08 AM Report Abusive Post Report Copyright Violation | |