Taxpayers are now buying AIG
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Use your AIG stock for toilet paper, if you haven't already. Bernanke and Paulson just printed up 87 million more dollars in exchange for 80% of a company that should have declared bankruptcy a couple of weeks ago. Strictly speaking the deal won't be annouced until the sun rises over the eastern US, but here's the details Now as soon as they put some red houses on the property they can start charging rent.
Jon Smith & Wesson: The original point and click interface
Does this hit you directly in the pocketbook? If I remember correctly you are a retiree. It has to be nervracking for people expecting a 401K or similar to handle a meaningfull portion of their retirement needs.
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Use your AIG stock for toilet paper, if you haven't already. Bernanke and Paulson just printed up 87 million more dollars in exchange for 80% of a company that should have declared bankruptcy a couple of weeks ago. Strictly speaking the deal won't be annouced until the sun rises over the eastern US, but here's the details Now as soon as they put some red houses on the property they can start charging rent.
Jon Smith & Wesson: The original point and click interface
This is not a challenge; it's a genuine question. I'm curious why you say this extra money has been printed fresh (I know you don't mean it literally). Wouldn't it come off something else? Also, as it's been pointed out, it's 85 [Dr. Evil voice]billion[/Dr. Evil voice] dollars.
Cheers, Vıkram.
"if abusing me makes you a credible then i better give u the chance which didnt get in real" - Adnan Siddiqi.
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This is not a challenge; it's a genuine question. I'm curious why you say this extra money has been printed fresh (I know you don't mean it literally). Wouldn't it come off something else? Also, as it's been pointed out, it's 85 [Dr. Evil voice]billion[/Dr. Evil voice] dollars.
Cheers, Vıkram.
"if abusing me makes you a credible then i better give u the chance which didnt get in real" - Adnan Siddiqi.
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Use your AIG stock for toilet paper, if you haven't already. Bernanke and Paulson just printed up 87 million more dollars in exchange for 80% of a company that should have declared bankruptcy a couple of weeks ago. Strictly speaking the deal won't be annouced until the sun rises over the eastern US, but here's the details Now as soon as they put some red houses on the property they can start charging rent.
Jon Smith & Wesson: The original point and click interface
Wonder if this gets our Stan's approval. It is too liberal (read leftist) for him? After all, in the WallStreet Crisis thread (below) he did say "The real problem here is that we have a bunch of rich people who want the government to absolve them from their own greed and stupidity. And we have a government that has been medling for far too long in the markets in the attempt to get credit to people who the markets would otherwise declare to be un-credit worthy. Both need to stop and if it takes a melt down in the international economy to get it to stop, fine." and "But if we cannot depend on a certain degree of honesty from those who control business without creating an even more monolithic government, than the patient died long ago - we just need to go through the hassle of getting rid of the rotting corpse." From http://www.marketwatch.com/[^] "The Fed statement stressed that taxpayer interests would be protected. The U.S. government will receive a 79.9% stake in the insurance company, with the power to eliminate dividends. The loan would be repaid by the asset sale. The AIG facility has a 24-month term. Interest will accrue on the outstanding balance at a rate of three-month Libor plus 850 basis points."
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Use your AIG stock for toilet paper, if you haven't already. Bernanke and Paulson just printed up 87 million more dollars in exchange for 80% of a company that should have declared bankruptcy a couple of weeks ago. Strictly speaking the deal won't be annouced until the sun rises over the eastern US, but here's the details Now as soon as they put some red houses on the property they can start charging rent.
Jon Smith & Wesson: The original point and click interface
No, I don't think they are. A private club of senior bankers ( The Federal Reserve ) are acquiring one of their competitors, or possibly even one of their own number, with money they have invented, lent to the federal government(laundered) and spent all in one motion. They are doing this in the name of state so that you the taxpayer carries the liability, but they the Federal Reserve Board get the assets. This is of course not daylight robbery because no daylight is involved but it is backroom fraud on a globally significant scale. Still a drop in the bucket compared with Fannie and Freddie though where the very same bankers who have milked your taxes for years by manipulating these organizations with insider information have now paid off the debts accumulated by their own shenanigans by issuing Trillions of dollars of debt in the name of the US taxpayer, so you get to pay to fill the ever growing hole caused by those who stole your money in the first place. Still you could all have voted for Ron Paul but chose not to so I guess those doing the screwing reckon you've asked for it. :sigh:
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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No, I don't think they are. A private club of senior bankers ( The Federal Reserve ) are acquiring one of their competitors, or possibly even one of their own number, with money they have invented, lent to the federal government(laundered) and spent all in one motion. They are doing this in the name of state so that you the taxpayer carries the liability, but they the Federal Reserve Board get the assets. This is of course not daylight robbery because no daylight is involved but it is backroom fraud on a globally significant scale. Still a drop in the bucket compared with Fannie and Freddie though where the very same bankers who have milked your taxes for years by manipulating these organizations with insider information have now paid off the debts accumulated by their own shenanigans by issuing Trillions of dollars of debt in the name of the US taxpayer, so you get to pay to fill the ever growing hole caused by those who stole your money in the first place. Still you could all have voted for Ron Paul but chose not to so I guess those doing the screwing reckon you've asked for it. :sigh:
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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Matthew, so this is a huge financial conspiracy? Wonder your views about LloydsTSB talks to acquire HBOS
Last modified: 5mins after originally posted --
The milking of Fannie and Freddie in collusion with insiders, bankers and revolving-door federal officials from all sorts of agencies is one long running and not very secret conspiracy, see www.solari.com or Google Catherine Austin Fitts for her autobiographical account of it from the inside ( long, complex and very sad ). The current financial crisis, known in the UK as 'The Credit Crunch' is not 1 huge financial conspiracy it's more like a coordinated 'play' of the market by those who stand to benefit. They've not necessarily conspired in person but all those in the know have jumped ship at the same time because once the big boys go those who know who the big boys are go with them and so on down the chain. It's always the little guys left holding the hot potato at the end of course. Only in this case there are simply not enough little guys to carry a can this big. Some big names are being ostensibly sacrificed but what this means is that the assests will end up in the hands of those 'inside' and the debt on the books of those 'outside'. Has this crisis been 'engineered'? Yes Is it 100 times bigger than it might have been because of the actions of thousands of sheep/followers who are not part of any conspiracy but see the way the wind is blowing? Yes Does the small rudder steer the large ship ? Yes Are there people who have there hand on that rudder and stand to benefit from all this? Yes Will we see a new class of private Trillionaires emerge as the medium term result? Yes Will a global currency ( and a rejigged international system in the interest of the insiders ) be touted as the solution to this crisis? Yes Will it actually be a solution, i.e. fix the causes? No not at all Was this the point of engineering the crisis in the first place? Yes partly that and partly to wipe out and or dump on the poor large lumps of the accumulated debt which is inherent in the system. Is any of this surprising? No not really Why didn't anyone predict it? They did, accurately and over a decade ago. Search YooTube for "The Money Masters" to get the basics. I hope that helps :)
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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Matthew, so this is a huge financial conspiracy? Wonder your views about LloydsTSB talks to acquire HBOS
Last modified: 5mins after originally posted --
Just found out about the merger talks myself. It is surprising from the point of view of where has HBOS' money gone. A few years ago I happen to know that they had £90 Billion in cash and £800 Billion+ in assets with basically no debt and were scaring the hell out of all the other UK financial institutions because everyone was afraid of being swallowed up. So the query is where did it all go? That's assuming that this isn't another reverse take over as when Bank of Scotland took over the Halifax which was several times its size. Essentially they borrowed the money to do it from the Halifax! Maybe HBOS will lend themselves a few tens of Billions via Lloyds to acquire themselves once again. I guess they're probably still charging themselves interest on the loan from last time, or possibly paying themselves interest :confused:
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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Use your AIG stock for toilet paper, if you haven't already. Bernanke and Paulson just printed up 87 million more dollars in exchange for 80% of a company that should have declared bankruptcy a couple of weeks ago. Strictly speaking the deal won't be annouced until the sun rises over the eastern US, but here's the details Now as soon as they put some red houses on the property they can start charging rent.
Jon Smith & Wesson: The original point and click interface
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Oakman wrote:
87 million more dollars
Shouldn't that be BILLION?
-------------------------------------------------------- Knowledge is knowing that the tomato is a fruit. Wisdom is not putting it in fruit salad!!
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Does this hit you directly in the pocketbook? If I remember correctly you are a retiree. It has to be nervracking for people expecting a 401K or similar to handle a meaningfull portion of their retirement needs.
-
This is not a challenge; it's a genuine question. I'm curious why you say this extra money has been printed fresh (I know you don't mean it literally). Wouldn't it come off something else? Also, as it's been pointed out, it's 85 [Dr. Evil voice]billion[/Dr. Evil voice] dollars.
Cheers, Vıkram.
"if abusing me makes you a credible then i better give u the chance which didnt get in real" - Adnan Siddiqi.
-
The milking of Fannie and Freddie in collusion with insiders, bankers and revolving-door federal officials from all sorts of agencies is one long running and not very secret conspiracy, see www.solari.com or Google Catherine Austin Fitts for her autobiographical account of it from the inside ( long, complex and very sad ). The current financial crisis, known in the UK as 'The Credit Crunch' is not 1 huge financial conspiracy it's more like a coordinated 'play' of the market by those who stand to benefit. They've not necessarily conspired in person but all those in the know have jumped ship at the same time because once the big boys go those who know who the big boys are go with them and so on down the chain. It's always the little guys left holding the hot potato at the end of course. Only in this case there are simply not enough little guys to carry a can this big. Some big names are being ostensibly sacrificed but what this means is that the assests will end up in the hands of those 'inside' and the debt on the books of those 'outside'. Has this crisis been 'engineered'? Yes Is it 100 times bigger than it might have been because of the actions of thousands of sheep/followers who are not part of any conspiracy but see the way the wind is blowing? Yes Does the small rudder steer the large ship ? Yes Are there people who have there hand on that rudder and stand to benefit from all this? Yes Will we see a new class of private Trillionaires emerge as the medium term result? Yes Will a global currency ( and a rejigged international system in the interest of the insiders ) be touted as the solution to this crisis? Yes Will it actually be a solution, i.e. fix the causes? No not at all Was this the point of engineering the crisis in the first place? Yes partly that and partly to wipe out and or dump on the poor large lumps of the accumulated debt which is inherent in the system. Is any of this surprising? No not really Why didn't anyone predict it? They did, accurately and over a decade ago. Search YooTube for "The Money Masters" to get the basics. I hope that helps :)
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
Matthew Faithfull wrote:
"The Money Masters"
Is that the one that features that bloke who wrote "The creature from Jekyll Island"?
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Oakman wrote:
Taxpayers are now buying AIG
Oakman wrote:
Use your AIG stock for toilet paper, if you haven't already
I don't get the connection :~ Why are stocks worthless?
Where do you expect us to go when the bombs fall?
Ka?l wrote:
I don't get the connection Why are stocks worthless?
Assume there were 1000 shareholders, each owning .001 of the company. Now there are 1000 shareholders, each owning .000002 and one shareholder owning .80 of the company. Since the company's stock had already lost around 98% of its value, the latest devaluation makes it worthless. The "purchase" of the stock was done as a loan which means that the balance sheet on the company doesn't change substantially, only its cash flow.
Jon Smith & Wesson: The original point and click interface
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Matthew Faithfull wrote:
"The Money Masters"
Is that the one that features that bloke who wrote "The creature from Jekyll Island"?
I don't think so, I'm pretty sure I'd have recognized his name in that case and I didn't. It was someone I'd never heard of previously. Aaron Russo's 'America, From Freedom to Faschism' is also worth a look for something slicker, simpler and more income tax focused. He covers some of the same ground but doesn't go nearly as deep into the history and mechanisms of the banking system.
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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Not afaik. However, they have a lot of subsidiaries. My 401K is now in money market funds and gold. Both have been hurt, but not badly.
Jon Smith & Wesson: The original point and click interface
Good to hear. And good call with gold. Are you holding a fund or options on gold? Personally, I use goldmoney.com to buy and hold gold and silver.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
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Good to hear. And good call with gold. Are you holding a fund or options on gold? Personally, I use goldmoney.com to buy and hold gold and silver.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
Chris Austin wrote:
ersonally, I use goldmoney.com to buy and hold gold and silver.
I just invested in leprechaun-finding gear. Pretty soon I won't care about the stock market at all.
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The milking of Fannie and Freddie in collusion with insiders, bankers and revolving-door federal officials from all sorts of agencies is one long running and not very secret conspiracy, see www.solari.com or Google Catherine Austin Fitts for her autobiographical account of it from the inside ( long, complex and very sad ). The current financial crisis, known in the UK as 'The Credit Crunch' is not 1 huge financial conspiracy it's more like a coordinated 'play' of the market by those who stand to benefit. They've not necessarily conspired in person but all those in the know have jumped ship at the same time because once the big boys go those who know who the big boys are go with them and so on down the chain. It's always the little guys left holding the hot potato at the end of course. Only in this case there are simply not enough little guys to carry a can this big. Some big names are being ostensibly sacrificed but what this means is that the assests will end up in the hands of those 'inside' and the debt on the books of those 'outside'. Has this crisis been 'engineered'? Yes Is it 100 times bigger than it might have been because of the actions of thousands of sheep/followers who are not part of any conspiracy but see the way the wind is blowing? Yes Does the small rudder steer the large ship ? Yes Are there people who have there hand on that rudder and stand to benefit from all this? Yes Will we see a new class of private Trillionaires emerge as the medium term result? Yes Will a global currency ( and a rejigged international system in the interest of the insiders ) be touted as the solution to this crisis? Yes Will it actually be a solution, i.e. fix the causes? No not at all Was this the point of engineering the crisis in the first place? Yes partly that and partly to wipe out and or dump on the poor large lumps of the accumulated debt which is inherent in the system. Is any of this surprising? No not really Why didn't anyone predict it? They did, accurately and over a decade ago. Search YooTube for "The Money Masters" to get the basics. I hope that helps :)
"The secret of happiness is freedom, and the secret of freedom, courage." Thucydides (B.C. 460-400)
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Chris Austin wrote:
ersonally, I use goldmoney.com to buy and hold gold and silver.
I just invested in leprechaun-finding gear. Pretty soon I won't care about the stock market at all.
:laugh:
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long
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Good to hear. And good call with gold. Are you holding a fund or options on gold? Personally, I use goldmoney.com to buy and hold gold and silver.
Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity. --Lazarus Long