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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]
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.
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.
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.
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.
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?