It's over now, we have monetized our debt! (AIG is a smoke screen)

FED's buying our debt?......where the *ell did they get that kinda money, are you sure they aren't just printing some paper....whoops....adding some zero's to their "online account".....wonder If I can do that, think they'd accept my checks?.............truly, if they BELIEVE we will swollow their actions, THEN, yup it's over........how stupid we have been!!!

Originally posted by Hastobemoretolife
reply to post by Seany

 

It is a little more complicated than that, but you got it about right to keep it simple.

Just to put into perspective the consequences of this action if it doesn't work, just take a look at Zimbabwe.

reply to post by marg6043

 

I don't know, I have a hard time believing that a complete and total collapse of the worlds economy was in the plans. I was thinking more along the lines of systemic collapse one country at a time. Complete collapse all at the same time doesn't further anybody's agenda.

They can't exactly win war against 3+ billion people. Also if complete collapse happens nobody will ever trust the people in the government. People are not just going to roll over and say save me. Some will no doubt but a majority of people are going to say shove it.

It is not good.

Can we please just start shooting these people and remove them from our planet? Honestly I'm sick and tired of them.

I know Glenn said in one of those videos that starting a revolution won't do anything as this is not the same as the american revolution. But I disagree. Even before the revolution, the colonists were still under british rule, just as we are today under american govt. "rule" It's not like the colonists came here and "became" american first and then fought off britain as a "foreign" invader. Before the colonies became america, we were "traitors" under british rule. So there's plenty similarity if we decided to fight off the people in power. The colonials = us were fighting a rogue govt. = britain for unfair treatment of their subjects. If we started a revolution, it would be the same, the only difference is that our enemy is right in our own backyard and not separated by an ocean. Which to me I find perfect as I won't have to travel long distance to join the fight.

Originally posted by Anonymous Avatar

Originally posted by yourallfools


yes, and you damn well know what I mean. You want facts as to why beck or hannity is wrong? turn on their shows for 30 seconds. write everything they say down. then post it here. then realize that everything they say is factually incorrect and is self serving crap.

[edit on 20-3-2009 by yourallfools]

Ok so Beck in the videos that started this thread, says the Fed bought up US Treasury Bonds and printed over a trillion dollars out of thin air. Are you going to argue this as fact?

The other things I heard him say that history shows this leads to hyperinflation and the destruction of currency. Are you going to argue this too?

Oh ya he says we will have a 2 trillion dollar deficit this year.

Beyond that were his opinion that congress is out of control spending like there there is no tomorrow and AIG bonuses were a distraction from the Fed buying treasury bonds.

What about that do you want to argue about? Or did you even bother to watch the videos?

I would be willing to give you the benefit of the doubt because up until very recently Fox News was completely useless and most of it still is.

Other than that grow up.

Why don't you go and research the facts and come and here and present an intelligent argument rather than your child like sarcasm and passive aggressive insults?

Interesting as clint points out that you argue that others only insult those who disagree while you have called me passive aggressive, immature, and ignorant, for simply disagreeing with you about this. I wasn't trying to imply that people like beck and hannity don't give numbers that may be real or not to convey their message. My main point as to their message is that it is a message based on fear and false populism. as far as the debt, I haven't yet read what the projections for the debt this year is. The fed may be printing money, and hyper inflation has been caused by this before, however, generally in countries much less stable than the us. also, the national debt has been far above a trillion dollars for along time now, and we seem to be surviving. while it may not be right, there is a big difference between the national and a personal debt record.

Just a reminder to comment on issues related to the OP and not individual members. In other words, play nice so we can maintain intelligent discussion and debate.

reply to post by yourallfools


Your childish remarks and passive aggressive attitude was in reference to several remarks you made including responding to an obvious typo, that you try to 'craw'.

None the less, of course we have been in a deficit for quite a while. That is if you ignore CAFRs. However, we were in a deficit where we had an economy that hired workers and we have never gone into this much deficit. To compound the problem is that we have never just printing so much money out of thin air, especially with in the given time period. These are just some very basic principles, you couple that with we are on the verge with losing our lines of credit, that is China and Japan, and we will no longer have a credit card to continue our deficit. Once that happens with the printing press creating trillions out of thin air, well the picture becomes quite obvious.

It was in the news here as well[but the bonuses are headline news just as over there ], Bernanke tries to avoid 30's like deflation but this plan creates hyper-Zimbabwe-inflation and to raise the interest rates after that would mean the economy recovers even slower... Japan did it in the 90's and the UK and Switserland before the US in 2009, but not on this scale..

[edit on 20-3-2009 by Foppezao]

Originally posted by Hastobemoretolife
Hope those printing presses are nitrogen cooled because they are going to be working on overtime.

This is going to have major implications. I hate being all doom and gloom I would much rather be happy and cheerful and telling lies with my friends.

But, this is a last ditch effort. China must have cut us off in a back room phone call. It was just too much for them to handle.

It is clear to everybody in the world that our government has no idea what the hell it is doing and they are just grasping at straws.

It also doesn't help that our president is more concerned about NCAA Brackets and Campaigning and going on Jay Leno, when he should be at the Oval Office reigning in his party and calling every single person with an alternate idea.

All I can say is that I hope his works.

You say that like if he were in the office this wouldn't be happening??? Are you blind...? This all a giant game and we are being sold. The president is as much a part of this as any other politician...Since when did we start trusting politicians???? Since when did they become our back slapping cigar smoking buddies who live "on the block"..THEY ALL ARE THE SAME no matter what political letter they have beside their name...

Originally posted by mpriebe81
It seems like more and more people are beginning to wake up to
the corruption and greed on Capitol Hill. But is it enough? The administration and Congress are trying to cover their butts, but I doubt if any REAL change will come about as a result of everything that has come to light. As Beck said, they will just throw their scapegoats under the bus and continue to find new and even more creative ways to screw the American taxpayer. We're in for one hell of a year!
S&F Dave!

You mean, We're in for one year of hell...and many more to come.

Originally posted by VenusOnTheHalfShell
Obama being on Leno is no big deal. To think that all presidents and politicians tie themselves to their desks during crisis is laughable. Actually, I thought Obama being on Leno was good in that he looked relaxed and was candid with his answers about the problems. That goes a long way in making some feel better in that we have not panicked and there is still light in the tunnel. A 4 hour flight on air force one is a great time to do work which I'm sure he did. So, in reality, he never stopped working or talking about the issues. Get a grip.


Are you serious? Were you there with him? Obama going on leno was a slap in the face to all Americans. Why, cuz he is going to give us all a free black box to put on our heads so we don't miss dancing with the puppets? You need to get a grip, along with millions of other Americans. I fought for this country, and will continue fighting now on the homefront. Obama still has yet to prove he is human. As far as I'm concerned he is another dummy with a hand up his arse. You said he was relaxed and spoke candidly. Of course he did, he doesn't speak without his trusty telescreens, i mean teleprompters.

Originally posted by loam
reply to post by toepick

 

Actually, rather than an ATM, replace that with the Pay-Day-Loan store.

Then your analogy is dead on.

I must take exception to your analogy comparing a Pay-Day-Loan store with what the Fed is doing. Most people do not understand that getting a PDL is a PERSONAL CHOICE, what the FED RESERVE is doing to this country is NOT a choice the people have made because they wanted to.

No body twists your arm to get a pay day loan.

~Holly

It makes me wonder how long it'll be before we see all of this new money dumped into the system. I also look forward to China, Japan, and Saudi Arabia's comments regarding the Fed's latest move. I imagine they are looking at all of the US debt they purchased and are suddenly wondering if it'll be worth anything. The G-20 meeting in London on the 2nd of April will probably not go well for us.

I also wonder if there are secret printing presses currently at work printing up this new world reserve currency. They'd have to have piles of it ready to go if they are going to drop the US dollar. I can imagine that several nations are ready to cut their losses and drop the US dollar as their reserve currency. If this were brought in line with using this new reserve currency at a new oil exchange in Dubai that refused to accept US dollars, we'd truly be in for a rough ride.

Sorry, but I think the guy in the video comes off as an idiot with the chops of a third grader. These investment corporations screwed the pooch, and there ain't no two ways about it.

When interest rates are allowed to be as high as 30%, with a 10% purchase fee on top of the original purchase, we have serious problems. When the banking/investment community is making 40% for nothing, than all the money goes towards investment for loans, not towards manufacturing, or Research and Development, the things that actually produce wealth, but towards loaning people money under deceptive practices.

Interest rates that the banks are allowed to charge need to be greatly reduced, and the fees that Credit card companies charge on top of purchases need to be limited as well. Banks exist on charters from the government, and they have been allowed to run wild for the last thirty years. It is time to change this back to a sane system.

Here is a good article that addresses the problem, unfortunately most of the article requires a subscription.

harpers.org...

AIG and their ilk are the bad guys, don't let somebody fool you into thinking differently.

www.nytimes.com...

That manufacturing is in decline is hardly surprising, but the depth and speed of the plunge are striking and, most worrisome for economists, a self-reinforcing trend not unlike the cascading bust that led to the Great Depression.

In Europe, for example, where manufacturing accounts for nearly a fifth of gross domestic product, industrial production is down 12 percent from a year ago. In Brazil, it has fallen 15 percent; in Taiwan, a staggering 43 percent. Even in China, which has become the workshop of the world, production growth has slowed, with exports falling more than 25 percent and millions of factory workers being laid off. In the United States, until recently a relative bright spot for manufacturing despite the steady erosion of blue-collar jobs, industrial output fell 11 percent in February from a year ago, according to statistics released Monday by the Federal Reserve. “Manufacturing has fallen off the cliff, and it’s certainly the biggest decline since the Second World War,” said Dirk Schumacher, senior European economist with Goldman Sachs in Frankfurt.

The pattern of manufacturing and trade ominously recalls how the financial crisis of 1929 grew into the Great Depression: tightening credit and consumer fear reduced demand for manufactured goods in one country after another, creating a downward spiral that reduced global

The 20ties was the last era when companies abandoned manufacturing for investment. History repeats itself. Coolidge was another free market moron.

I agree with Glenn Beck to a point. He advocates no revolution. He seems to hold that position due to fear not for the right reasons. If something is too far gone the best way is to start all over. Also what good does it do to peacefully talk to the politicians, bankers, corrupt thieves and politely ask them to stop printing money as he suggests? They don't ask our consent when printing 1 trillion dollars so why would they listen to us when we ask them to stop being corrupt fools? To stop getting rich off of us while ruining their country for short term benefit? Yeah... they'll listen. We should know by know that they do what they will with total immunity. No amount of pleading, polite and civil debate will ever get someone who is holding all the cards to change their mind. And make no mistake they do hold all the cards.

reply to post by edsinger


Probably China have first priority when it comes to those assets my friend remember they hold already a trillion of US debt.

reply to post by RR98


Is a big problem with letting the fed run our treasury they are like somebody pointed before me and perhaps you also know a private owned bank by the global banking elite cartel.

What they did is to print money from thin air nothing but paper, Backed only with the promise of tax payers burden of debt.

The Tax payer will pay only for the interest in that paper to the Fed after occurs our tax payer money is gone to oversea accounts for the interest to be pay.

So right now tax payer interest in the money borrowed by the Fed is not even enough to pay those accumulated interest.

reply to post by XD9611
[I come from an era that uses a potpourri of information to form a conclusion]

Yeah, the government has been using potpourris of information from shady sources to justify some pretty stupid or criminal schemes, like the war in Iraq that sealed America's coffin.




[edit on 20-3-2009 by star in a jar]

I am jumping in here after having read only a few of the last posts. Just know that those who would continue to put Glenn Beck down haven't been listening to him for as long as we have and have no idea how long he has been trying to get this message out.

iIt's ok! Those of us who know are with you.
Thanks,
FMF

Wow that article about the FED doing swaps with other central banks was eye-opening indeed. I wonder if the adjustment we are seeing will make the dollar STRONGER, so strong that it would be bad and therefore the FED 'prints' more to keep it low. Remember, the dollar has been were people have been putting assets lately, it has been RISING. They are not having ANY issues selling the Treasuries, none.


I think the rest of the world is in WORSE shape.

remember folks, before you get spooked by the talk of 5-10 trillion, remember what the ASSETS of the United States are......you can get loans if you have collateral.

As a side note, the folks in the previous threads that talked about the early 80's were spot on..

And how many trillions in debt have been built up by previous repub admins? What was the debt in ratio to GDP in 1945 when we ended the Great Depression? Of course the repubs did their duty to their benefactors today by squashing the tax rate those crooks should be paying on their ill begotten bonuses. Considering how outrageous these bonuses have been for robbing pension plans and moving jobs overseas, they should not only have to pay 90% tax, but spend a year in the jail as well.

This is my first time posting on ATS but I am a long time reader. I would like to have a bit of say with what is about to happen to America now that the FED has begun printing money in mass quantities. This is only be beginning of what is to come. This is JUST the beginning of a massive money printing scheme that will ultimately fail like every other time in human history. We are in the 21st century, and as advanced as we are, still try to run a fiat money system. I would hope this is the last fiat money system mankind attempts. We now have 6.5 billion people on this planet with a money systematic breakdown. This will be nothing like the world has ever seen and I am almost positive this falls right in line with 2012. The next 4 years ahead, I believe, are going to be a harsh awaking of who we really are and what we stand for as a human race. The elite, NWO, whoever you wanna call them, are losing thier grip, and are trying to save a system which has already failed. They really dont care if it fails, and could be deliberatley doing so. Anyways, I dont want to get off topic on my first post with the grand scheme of things. But I would like to add that America did once stand for principles of the common person. I have been following Americas trend downwards for the past several years, and the rate of its decline has been astounding.

I will not say the words wake up. It's over used. Open your MIND is more like it. They are stealing blind from every person in America. Those who cannot see this, will see this when they have no food on thier tables. In Canada, we also stood for the many principles as America did. The citizens of both countries are going to need to make a stand very soon against this tyranny. Not just for thier own country, but for mankind itself.

This is it. The end of America, and the end of the US dollar. Hyperinflation is coming and we are approaching the end of our way of life and the end of the current monetary system. They will try and replace it, and if they succeed, I would guess that mankind will be enslaved for a minumum of hundreads of years. It will be such a controlled system that mankind will be lifeless shells for the elite for many many years. This our only time for people to expose what is really going on, and to put an end to the tryanny of the elite, bankers, and those who prey on the evil of mankind.