The rescue has failed: it's time to fess up, reboot and start again

sum it up in 1 paragraph

The ever obligatory...
:WAF:

Yes, bank holiday.

ATM's not working... credit cards not working,

store shelves empty...


could easily happen soon.

Please have water, canned food, and security measures ready
this week!

beware the word "holiday" applied to anything serious, it means the clowns know the doom is commin..

ty, I now understand

:WAF:

Just in time. I'm just about finished with storing enough heirloom seeds. One more gun and I'm set.

best way to start over is erase everyones debt and start over from scratch.

I am also talking about what you have in bank acccounts also, all balances would start out at the same , say $3,000 as that would even it up for everyone.

Everyone start out at the same level .

In my opinion this is all a blessing. I think the way people live now is perverse. And I definitely do not fault them. I am in the same boat. People are raised as cattle. No one is happy. Who in their right mind would wish for all of this to continue like it is?

I see it all as a positive shift. I'm not sure why the doom label needs to be applied to this upcoming collapse. In crisis there is always opportunity.

Anglo freezes deposits

Sunday, January 18, 2009 By Cliff Taylor and Richard Curran
-Main banks unlikely to raise private cash

-Anglo freezes deposits of €20m-plus borrowers

The government is facing the prospect of effectively nationalising large parts of the banking system, following the state takeover of Anglo Irish Bank last weekend.

[link to www.sbpost.ie]

SO it begins !!

No. The whole way we deal with money needs to be restructured, a completely new way of living. People will try to keep the old systems going but they will eventually collapse. It is inevitable. Everything is going to go more local. Even bartering will probably make a comeback.

No. The whole way we deal with money needs to be restructured, a completely new way of living. People will try to keep the old systems going but they will eventually collapse. It is inevitable. Everything is going to go more local. Even bartering will probably make a comeback.

They think they can go for a credit bubble re-inflate. Sorry .gov punks. Too late. US consumer is tapped out and unsecured credit will be cut by 2 TRILLION this year alone.


Summers Says TARP Will Focus on Consumers Rather Than Banks


By Matthew Benjamin

Jan. 18 (Bloomberg) -- Barack Obama will focus more on helping consumers, local governments and businesses than banks as his administration deploys the second half of the $700 billion rescue fund, said Lawrence Summers, the president- elect’s top economic adviser.

“The focus isn’t going to be on the needs of banks; it’s going to be on the needs of the economy for credit,” Summers said on CBS’s “Face the Nation” program. Obama’s team will manage the Troubled Asset Relief Program “in a very different way,” he said.

Summers’ remarks indicate banks and their executives face tougher scrutiny in seeking money from the bailout after the Obama administration takes office Jan. 20. The TARP may be redirected to address “housing to prevent foreclosures,” “automobile loans, consumer credits, small business, municipalities,” he said.

Treasury Secretary Henry Paulson committed most of the initial $350 billion of the TARP to capital injections in exchange for warrants and preferred equity. Summers said banks will be subject to more oversight in their use of the funds.

“There’s going to be a very different level of rigor in the evaluation of institutions, the plans that are designed, and the expectations for institutions,” Summers said. “Institutions that are healthy, that don’t need it just to survive, are going to be expected to lend above their baseline levels as part of this program.”

Treasury Secretary-nominee Timothy Geithner and his advisers will be “carefully” monitoring Wall Street bonuses of banks that have participated in the TARP, Summers said.

Bank Mergers

“What’s not going to happen is the funds that could be supporting increased lending are going to be used to finance acquisitions that may serve a bank but don’t serve the country,” Summers said. The new administration will also prevent banks that accept government funds from pursuing acquisitions to the detriment of increasing lending, he said.

Summers said the results of TARP so far have been “unsatisfactory,” a sentiment echoed by another Obama adviser speaking today in a separate interview.

“It’s clear that it has to be administered in a much different way,” David Axelrod, Obama’s chief political adviser, said in an interview on ABC’s “This Week” program. “The point is to get credit flowing again to businesses and families across the country -- that hasn’t happened with the expenditure of the first $350 billion.”

$825 Billion



[link to www.bloomberg.com]

Last Edited by Phennommennonn on 03/29/2012 08:07 AM

America is spiraling down the rabbit hole and the federal Government wants to save you( sarcastic laugh) that way they are heroic in their own minds.

I just say let it all collapse and be done with it that way if the country survives the civil unrest we can start rebuilding our once great nation by putting all the politicians on trial for treason and make a example of those found guilty by executing them publicly on live TV as the new Digital bands will give a much better picture...LOL

The simple life of the past , when you could work 40 hours and pay your bills and have $$ left over and you were able to spend time with your family instead of having to multi task 3 jobs, 4 kids, soccer ,ballet and find time for sleep.

Omega, do you have any links to fond the following info;

1. the figures on M3 since the government stopped making it public in 2005

2. how much M3 and maybe M2 moved in the last 6 months

IIRC the .gov crooks stopped reporting M3 some time ago, I wonder why, lol.....

M2??? Lemme see what I can find bro....

LOL -

found it !!!

this is why the fed pumping several trillion into the economy won't cause inflation

[link to www.nowandfutures.com]

One important lesson we can learn from FDR is to restore the Glass-Steagall firewall he erected between commercial and investment banking – so foolishly removed by the "bankers-turned-public servants" who dominated Bill Clinton's administration in the 1990s and who are now back, in the Obama fold.



Dammit! This is supposed to be George Bush's fault!

Found this from shadowstats Mr Predictor. Can't verify the accuracy however IIRC this guy used to work for the .gov bamboozlers in an economic capacity....

[link to www.shadowstats.com]

Your statement is so true and relevant. I am often accused of being negative by the alternative thinkers I associate with. I try to explain exactly what you stated.

Being aware and prepared doesn't necessarily mean you are full of doom and gloom.

Thanks for this. I really appreciate it.

Public Lecture organized by the
Centre for Research on Globalization...

Causes and consequences of the financial meltdown;
The speculative onslaught;
Financial fraud and the "bank bailouts";
Bankruptcy of the real economy;
Impacts on employment, wages and social services;
Towards a spiralling public debt;
The economic crisis and its relationship to the Middle East war;
The centralization of corporate power;
The concentration of wealth;
The globalization of poverty and the NWO.


[link to www.globalresearch.ressourcequebec.com]

:moneybase:



i have these two

Alternate source on M3.

[link to www.nowandfutures.com]

Can you explain? I don't understand what M2 is. Thanks.

Money is used in final settlement of a debt and as a ready store of value. Its different functions are associated with different empirical measures of the money supply. Since most modern economic systems are regulated by governments through monetary policy, the supply of money is broken down into types of money based on how much of an effect monetary policy can have on each. Narrow measures include those more directly affected by monetary policy, whereas broader measures are less closely related to monetary-policy actions.[6] Each measure can be classified by placing it along a spectrum between narrow and broad monetary aggregates. The different types of money are typically classified as Ms. The number of Ms usually range from M0 (narrowest) to M3 (broadest) but which Ms are actually used depends on the system. The typical layout for each of the Ms is as follows:

M0: currency (notes and coins) in circulation and in bank vaults, plus reserves which commercial banks hold in their accounts with the central bank (minimum reserves and excess reserves). M0 is usually called the monetary base - the base from which other forms of money (like checking deposits, listed below) are created - and is traditionally the most liquid measure of the money supply. [7]

M1: currency in circulation + checkable deposits (checking deposits, officially called demand deposits, and other deposits that work like checking deposits) + traveler's checks. M1 represents the assets that strictly conform to the definition of money: assets that can be used to pay for a good or service or to repay debt. Although checks linked to checking deposits are gradually becoming less popular, debit cards linked to these deposits are becoming more popular. Like checks, debit cards, as a means to complete a transaction through their links to checkable deposits, can also be considered as a form of money.[8]

M2: M1 + savings deposits, time deposits less than $100,000 and money market deposit accounts for individuals. M2 represents money and "close substitutes" for money. [9] M2 is a key economic indicator used to forecast inflation.[10]

M3: M2 + large time deposits, institutional money-market funds, short-term repurchase agreements, along with other larger liquid assets. M3 is no longer measured by the US central bank.[11