Federal Reserve DISASTER

I live in the UK and really feel so very sorry for you guys in the US at the moment. I must however add that I feel that your spell as a superpower is probably in terminal decline, the same as it was years ago for Great Britain as an Empire. Perhaps the good news will be that after the crash, you will find your original goals and values again, and rebuild your great country with priorities and values that are more in line with those of you founder fathers, rather than those rulers that you presently have.

I think it is basically wrong to base your economy on Usury. Ok, lend money to the needy, but charge only a small fixed handling fee along with the principal for repayment, not compound interest on the debt !!!

If that sounds too simplistic, believe me this system has worked for Centuries before, and still does at present in some parts of the world.


I sincerely hope for your sake that you have a genuine and God gifted Person In Charge when the time comes to start from scratch.

reply to post by enddays


Here, here.

I was having a conversation about usuary based debts today with some of my friends.

We talked about the fact that so-called Chrsitians have forgotten that usuary is forbidden, yet quite happily take out huge loans and mortgages with compound interest attached.

I for one am telling all that I know the dangers of this sort of debt, and that the banks have a legal obligation here in the UK (under the non-discrimination laws), to provide Christian friendly loans.

I wish all in the US of A the best of luck as all of this financial mess comes to a head. I know that it will be turbulent, but I hope and pray that it will be less of a tribulation than I feel it will be.

Originally posted by In nothing we trust
Don't for one second believe that these european bankers are giving up or declaring themselves insolvent. They'll be raising interest rates to lure in more foriegn investors and squeezing every last drop of tax revenue, that they can, out of American citizens very shortly.

They aim to bankrupt America and leave us homeless in our own country. And we're gonna stand by and watch them do it, because the more pissed off homeless people we have living in the streets the easier it will be to put a gun in thier hands and point them in the right direction.

Death to traitors.

[edit on 28-3-2008 by In nothing we trust]

These are no Bankers, they are fraud Banksters. Unfortunately, people are still fast asleep with their eyes and mouth wide open, just waiting for their next ration from the entertainers of Illusion.

Really, another financial doom and gloom thread????? I am not saying you are wrong, I am just saying that it's not all that bad, at least for the poor white person living in rich suburb. I work, my roommate works, together we have no credit cards, we do not own a home, we rent, I am 11 payments awayn from owning my car, he has a used car he already owns, I take care of my mom, who is going to shortly be getting disability, we have the net and cable tv, that is the extent of our luxeries. I rely on single guys to date in order to get entertainment (just joking, but if they pay for my dinner and drinks woohoo for me). I just don't see how so many people are in such financial trouble. Really i don't get it. I guess I am one of the lucky ones that never went for the house on the hill (because I didn't want to mow my own lawn), that you people always make fun of........."oh you are wasting your money on rent", "you gotta build equity"........blah blah blah, while you lose your home, I still have a roof over my head because my rent is cheaper than a house payment. So if worse came to worst, I would still live here because of the squatters law. Hahahhaha, can't take my roof froom me. Besides, living in an apartment is cheap enough that I could take a Micky D's job if I lost my real one. People, learn to live within your means and you wouldn't have this problem!

The ANSWER for the USA's woes (from a madwoman in Canada):

Break the 12 largest Foundations in the USA and distribute the moneys to every man, woman, and child who is a citizen of the USA.

It also has the salutary benefit of neutering the Rockefellers inter et alia...

[edit on 28/3/08 by Pellevoisin]

I found the following discussion to be related on this... and I'm hoping to get confirmation from others in the financial arena to take a look at these numbers to confirm if this is indeed worrisome data or something else. I'd like to keep my head on straight and get some good advice from folks that know have strong history with financials and these types of reports.

LinkLink

The shocker is that the preliminary January 16th number showed that the
required reserve of banks was $39,989 million dollars. This means how much
money the banks claim to have on hand as their portion of the 'fractional
reserve' banking system is (ballpark) $40 billion.
OK, the third column says the amount of reserves they are required to have
by the Federal Reserve is only $38,278 million. (*$32.3 billion, ballpark).
OK, I've saved the scariest for last: Column #2. It says the amount of
nonborrowed money (*money that the banksters didn't have to borrow to meet
their reserve requirements was negative. In other words, if I am reading
this right, the whole fractional reserve banking system's reserves required
is being held afloat strictly by borrowed money at this point!
I've heard about people wanting to take money out of this account or that
(*in major brokerage firms so far) but being told they may have to wait a
week to get their money, but if I am reading the H.3 report right, that
might soon happen to banks - and the specter of Bank Holidays may be on us
sooner than we might like. The sharp-eyed readers who sent this along to me
said they went back through the history of the Fed to 1959 and could find no
similar event, but hey, maybe this will be massaged out when the next Fed
H.3 update is released. You better pray it is.

Found some more data on this:

www.federalreserve.gov...

February 08, 2008
H3: Recent Declines in Nonborrowed Reserves
The H.3 statistical release indicates that nonborrowed reserves of depository institutions have declined substantially since mid-December to a level that is now negative. This development reflects the provision of a large volume of reserves through the Term Auction Facility (TAF) and has no adverse implications for the availability of reserves to the banking system.

By definition, nonborrowed reserves are equal to total reserves minus borrowed reserves. Borrowed reserves are equal to credit extended through the Federal Reserve's regular discount window programs as well as credit extended through the TAF. To maintain a level of total reserves consistent with the Federal Open Market Committee's target federal funds rate, increases in borrowed reserves must generally be met by a commensurate decrease in nonborrowed reserves, which is accomplished through a reduction in the Federal Reserve's holdings of securities and other assets. The negative level of nonborrowed reserves is an arithmetic result of the fact that TAF borrowings are larger than total reserves.

Hope this helps.

www.federalreserve.gov...

reply to post by Cowgirlstraitup7


I think you must be lucky where you live? If the squatters rights thing works then why are there so many homeless people on the streets? I can't speak for the u.s but here in england houses are so scarce and prices are so stupid that only the rich can afford to buy. My mate bought a 2 bed flat 8 years ago for 60K ITS NOW WORTH 215k! She pays the bank by renting out a room. The amount she pays on the mortgage is the same as i pay for renting a bedsit.

Originally posted by In nothing we trust
the more pissed off homeless people we have living in the streets the easier it will be to put a gun in thier hands and point them in the right direction.

No guns will be going in any homeless person's hands, pissed off or not.

This is why we have had no draft and will have no draft.

Putting guns in to the American people's hands for a draft is no different than arming us themselves. If they were willing to do that, then why push for gun control?

They'd rather conquer the world with only 2 million armed military personnel and get by on private security firms, at taxpayers' expense, than arm 300 million pissed off Americans.

well....

at all times rumours, whispers spread , threads , rants, insights,

They rise and fall, build and destroy,

Swift, Quick no room for Atone

When the Bailiffs take your home.


....

Poetic Muse over I know a tad about this.

Whats worrying though is that this, is now becoming a shout not a whisper,

and when it starts to scream... well the stampede has only one conclusion.

I have due to work and interests watched this for some time now and one thing isnt really being talked about...

See if you can find a capilitistic (modern economies) economy having a Housing Crash before a Stock Crash... Its always (net) the other way round...

Oh dear have we not only fallen down the stairs... but tripped on the way too?

Regards Elf


cycles, circles, humans and our creations creatures of habit!?

if you want to think about this more...
google wiki read history & depression, Stock Market Crash and, gold price(Peak price for historical period) just prior too the Crash, same for things like, reality, food (wheat/grain), Energy Resources etc and you will see a very very very marked resemblense
e to current world prices.

Look also at global economic events at the time just before and after, but Oops wev'e tripped again down the stairs... tumbling now head first now

HEY THE WAR ALWAYS COMES AFTER THE CRASH!

food for thought

Regards

Elf

Ok, so you're all fretting and seeing the worst. What will you do?

I graduated college IMO, in the worst time to do so in the history of the US, last year. I can't find a real job anywhere, so I'm working at a crap bar making decent money for right now.

I mean, if anything, make use of your time. I don't think being unemployed for more than a month is reasonable for any logical person. Get a sh** job and wade in the crap until you find a good one.

So what is your answer to all of this? What shall I do? Should I break the bank, move back home, and buy an assault rifle right away? Or should I live my life reasonably and save everything I have including medicine, food, and water purification devices?

Come on people, stop complaining and do something with the short time you have before this massive collapse. If there ever will be a massive collapse, which will be over many many more years, if it ever does happen.

can someone please break this down for us laymen out here who dont speak fed talk?

what is this an indication of? what does it mean in the real world? i mean has the you know what hit the fan? or what? can anyone give a straight answer (leaving out the technical talk) to any of these question? any help would be appreciated.

thanks

reply to post by CPYKOmega


Sorry to go off topic, but CPYK is right. For being so close to the boarder, I feel almost no effect of the America's receding economy. House prices are climbing, yes, but because of demand, not interest rates. The construction economy is hot, and food is much cheaper here compared to the US, except gas prices are high. Minimum wage is going of to 8.50 CAD starting April, which is like 8.45 American, which indicates a steady inflation. National Deficit is at an all time low, and our water and air is clean. All this, bundled with an extremely open immigration policy is perfect for you guys to come up here. If you find the right work, there is no shortage (service industry and most manufacturing industry).

-Oh, and you don't have to worry about a draft up here. Oh I wish for Canada to have a nuclear weapons program....

reply to post by abelievingskeptic



ABS,

With your remaining cash try this book as it helped lay some history on the events unfolding.

The Creature from Jekyll Island: A Second Look at the Federal Reserve
G. Edward Griffin, Author

Originally posted by space cadet
reply to post by jpm1602

 

We are seeing all our industry in the North Ga area deplete, most of the mills moved to Mexico a long time ago (thanks NAFTA) what was left were some chicken plants, Suzuki, and some bakeries and now they are all laying off, my sis lost her job after 28 years with the same company, now every company she goes to work for closes within weeks of starting her new jobs! I don't know what folks are going to do. Worried here.

Gainesville GA area here as well... don't forget to mention that A LOT of jobs are also being taken by illegals, and not only industrial, but office, health dept. jobs, law firm receptionist/secretary and community action program jobs (you know, the jobs that McCain swore up and down no american would do... talk about deluded)

Originally posted by CPYKOmega
I knew it was bad in the US but not this bad. Every thread I read 99% of the people posting are in the same situation! I wish there was something I could do to help you guys.

Have you ever thought about moving to Canada? We seem to be doing pretty good right now. I know I am. Is that an option for anyone here?

If you're willing to take in a 26yo american I'd consider it an option he he. I've been wanting to leave the comfort of my home and seek adventure elsewhere in the world anyway

reply to post by scrapple


ya, i have read alot of stuff about the fed and our monetary policy and who the alleged perpetrators are of many of the political conspiracies that seemingly have taken place, but I really would like to know how the OPs post translates into real life economicaly speaking. Can anyone give specifics or details? Or is it just too soon to know?

Thanks for your reference though, If I can ever get the time I will certainly give it a look over.

reply to post by Cowgirlstraitup7


Congratulations on your obvious preparedness, but know also that those less prepared (not all) but some will feed on those more prepared. Keep a gun close. Maybe one of those guys can protect you...

reply to post by SantaClaus

You know, I definitely agree with your call to action for those of us who know about the impending financial collapse.
I believe the answer to this problem, for me, is not buying into the grand illusion.
Einstein said that you cannot solve a problem by being in the same state of mind that caused the problem.
The fact that we are taught from a very young age that buying things makes us happy and when the "new" has worn off of a toy we can go buy a brand-new one and be even happier. This is all just part of the illusion. We must find a way to be happy with ourselves first and foremost.
If you think about it the life-plan that nearly everyone buys into is:

1) You are born. 2) Live for three to five years then begin learning about how to fit into your role as one of the sheep; continue learning how to fit in for the next twenty or so years (longer if you really want to be praised for buying into the illusion). 3) Now you are ready to fit in and work for the next 30 years or so. 4) After laboring for somebody else and receiving an allowance of green cotton, assuming you have played into the illusion properly, you are ready to retire. By this time you are probably, at the earliest, mid fifties or pushing sixty. 5) So then at this point it is alright for you to go ahead and live life as you see fit (assuming you bought into the illusion of course) for the next fifteen to twenty years. Hopefully these final few years that you were oh so graciously given by the illusion are happy ones but all too often they are not.

It is just sad! The illusion is ridiculous! And look at where it has gotten us. Our society is in shambles, and when the economy finally collapses few people will know how to survive on their own.
I have been a college student for the past four years, but most importantly I have been a student of life for the last two years or so. Just this week I decided to quit school and just live. My girlfriend and I just bought a cab-over camper and a flatbed trailer that I am converting to a mobile greenhouse with a water catchment and tank. I just bought 200 dollars worth of seeds, so we are set. We are thinking about being camp-hosts for 500 to 800 dollars a month.
My point is, yes the economy sucks, but there is something that we can do about it. Simplify our lives! Say no to the illusion and just live!!!

Your economy is getting bad real fast. I live in a Northern Ontario city of about 200000 and is roughly 400 Miles from the border at niagra falls. Lately we are seeing more and more Americans buying houses here. When i ask them why i hear the same response every time "We had to get the hell of of the States before it hits the fan.". Every reason is the exact same. Also we are starting to notice alot of American stores and closing down nationwide in Canada but not yet in the US. Its definately getting back and we are feeling the pinch too. Remember when it falls apart in the US, Canada and Mexico are sure to follow.