14.3 trillion debt
- Thread starter goober
- Start date
Re: 14.3 trillion debt
A little light under the rock.....
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
<span style="font-style: italic">An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, <span style="font-weight: bold">we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world</span>," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."</span>
Understand the FED has the power without Congressional approval to print and loan money:
http://www.federalreserve.gov/aboutthefed/section13.htm
<span style="font-style: italic">In unusual and exigent circumstances, the Board of Governors of the Federal Reserve System, by the affirmative vote of not less than five members, may authorize any Federal reserve bank, during such periods as the said board may determine, at rates established in accordance with the provisions of section 14, subdivision (d), of this Act, to discount for any participant in any program or facility with broad-based eligibility, notes, drafts, and bills of exchange when such notes, drafts, and bills of exchange are indorsed or otherwise secured to the satisfaction of the Federal Reserve bank: Provided, That before discounting any such note, draft, or bill of exchange, the Federal reserve bank shall obtain evidence that such participant in any program or facility with broad-based eligibility is unable to secure adequate credit accommodations from other banking institutions. All such discounts for any participant in any program or facility with broad-based eligibility shall be subject to such limitations, restrictions, and regulations as the Board of Governors of the Federal Reserve System may prescribe.</span>
Actual GAO report http://sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf
I find it interesting that in face of overwhelming evidence to the contrary items like these don't take center stage and Ron Paul's warning that regardless of the debt ceiling argument, we will default - are not heeded.
The music is going to stop....may we all have a chair...
Good luck
A little light under the rock.....
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
<span style="font-style: italic">An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, <span style="font-weight: bold">we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world</span>," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."</span>
Understand the FED has the power without Congressional approval to print and loan money:
http://www.federalreserve.gov/aboutthefed/section13.htm
<span style="font-style: italic">In unusual and exigent circumstances, the Board of Governors of the Federal Reserve System, by the affirmative vote of not less than five members, may authorize any Federal reserve bank, during such periods as the said board may determine, at rates established in accordance with the provisions of section 14, subdivision (d), of this Act, to discount for any participant in any program or facility with broad-based eligibility, notes, drafts, and bills of exchange when such notes, drafts, and bills of exchange are indorsed or otherwise secured to the satisfaction of the Federal Reserve bank: Provided, That before discounting any such note, draft, or bill of exchange, the Federal reserve bank shall obtain evidence that such participant in any program or facility with broad-based eligibility is unable to secure adequate credit accommodations from other banking institutions. All such discounts for any participant in any program or facility with broad-based eligibility shall be subject to such limitations, restrictions, and regulations as the Board of Governors of the Federal Reserve System may prescribe.</span>
Actual GAO report http://sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf
I find it interesting that in face of overwhelming evidence to the contrary items like these don't take center stage and Ron Paul's warning that regardless of the debt ceiling argument, we will default - are not heeded.
The music is going to stop....may we all have a chair...
Good luck
Re: 14.3 trillion debt
GM-7;
Honestly, IMHO what little gold I'd still have wouldn't be worth expending perfectly good ammo over. I'd have traded it off pronto. If the poop ever really went airborne, I'd be counting my rounds long before I decided to count my trinkets.
Stay thirsty, my friend...
Greg
GM-7;
Honestly, IMHO what little gold I'd still have wouldn't be worth expending perfectly good ammo over. I'd have traded it off pronto. If the poop ever really went airborne, I'd be counting my rounds long before I decided to count my trinkets.
Stay thirsty, my friend...
Greg
Re: 14.3 trillion debt
Whatever the outcomes, inevitible or not; I'll be facing it together with my family, friends, and neighbors.
Greg
Whatever the outcomes, inevitible or not; I'll be facing it together with my family, friends, and neighbors.
Greg
Re: 14.3 trillion debt
There is some crazy group out there that runs the debt clock, but i doubt seriously that those clocks are tied to all of the banks/interest rate etc...they are just a scary number.
It never gets paid back until all of the countries and uS Citizens sell their bonds.
If we do not get an aug2 debt deal that COULD happen and that could remove some paper money from the circle-of-economy.
but don't worry, the feds will just print more, so there is no real crisis.
See? Paper is worthless, just a number.
Means nothing, but if we get the debt deal then stockholders won't have to worry and the market will recover - it's been doing NICELY as of late.
Just doesn't mattr, it's all on paper.
What matters is when our aircraft are flying aid to other countries like Somalia etc - those items have intrinsic value and were purchased by the slaves of America...(US).
So as I said, buy stocks, avoid bonds, buy silver, gold, and platinum (It's doing nice too) and live life - what's to worry about...
Oh yeah pay off those credit cards because with the debt deal we will see rising interest rates....Wouldn't want to be holding a credit card now.
There is some crazy group out there that runs the debt clock, but i doubt seriously that those clocks are tied to all of the banks/interest rate etc...they are just a scary number.
It never gets paid back until all of the countries and uS Citizens sell their bonds.
If we do not get an aug2 debt deal that COULD happen and that could remove some paper money from the circle-of-economy.
but don't worry, the feds will just print more, so there is no real crisis.
See? Paper is worthless, just a number.
Means nothing, but if we get the debt deal then stockholders won't have to worry and the market will recover - it's been doing NICELY as of late.
Just doesn't mattr, it's all on paper.
What matters is when our aircraft are flying aid to other countries like Somalia etc - those items have intrinsic value and were purchased by the slaves of America...(US).
So as I said, buy stocks, avoid bonds, buy silver, gold, and platinum (It's doing nice too) and live life - what's to worry about...
Oh yeah pay off those credit cards because with the debt deal we will see rising interest rates....Wouldn't want to be holding a credit card now.
