TARP to cost $24 Trillion dollars

We're probably all numb by the numbers, which is why I didn't see this posted here before. I wonder if the general public realizes these bailouts, stimulus packages, and other programs are coming out of our paychecks. Realize that many of these bailouts are not paid back, this money is taken from you and given away to corporations.

www.msnbc.msn.com...

Watchdog sees huge U.S. bill for banks bailout
Financial bailout's cost to U.S. could total almost $24 trillion

updated 1:07 p.m. PT, Mon., July 20, 2009
WASHINGTON - The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a watchdog report said Monday.

Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.

...

market-ticker.denninger.net...!.html

Monday, July 20. 2009
Posted by Karl Denninger in Politics at 13:46
TWENTY-FOUR TRILLION DOLLARS?!
Ex-freaking-scuse me?

Barofsky said that while the TARP program that Congress passed amounts to $700 billion, the total federal government support since 2007 for the economy and the financial sector could reach a far higher figure of $23.7 trillion. The government has committed significantly more money through a variety of other federal agencies and programs.

WHAT?!

$23.7 trillion dollars?

Where was the Congressional appropriation for that?

This is blatantly unconstitutional folks. We're talking about nearly double the nation's GDP in debt commitments and more than 33 times the amount authorized by Congress.
...

Are they dumb.......they know we don't have this money....

it's not how much something costs anymore, it's how much debt are THEY putting US in ?

As is the response to this important thread, is the laziness of the American, and World general working class population.

As long as we're comfortable, give the government whatever they need.

The founders of this country would be ashamed.

Where's the V's of the world?

I'm calling God.

[edit on 20-7-2009 by Udontknowme]

reply to post by Dbriefed

Star and Flag !

It will cost a bit more than 24 Trillion if the below list of financial
chaos ensues:

It has been confirmed by other news sources now that the
$134 billion in US bonds were likely real, and the japanese
men sneaking them around were likely japanese ministry of finance.

If that is true and they are trying to quietly dump them on the
market and other countries start doing it, we don't have long and
it is likely the trigger event for the Wall street journals mentioned
upcoming nationwide bank shutdown.

*** The two below say that the two japanese men stopped
with supposedly fake bonds were released...And if they
had been fake they would have broken the law and be
held on counterfeiting charges.
This says the japanese are dumping US bonds secretly
to get off the ship before it goes beneath the waves...

www.freerepublic.com...

market-ticker.denninger.net...

*** Below says US foreign Embassys are being told to horde
1 years worth of non-US currency due to a possible
lengthy banking shutdown.

www.marketwatch.com...

Speaking of shutdown, 7 banks in one day went poof...

www.fdic.gov...

FDIC top level official says bank closures to increase 10 fold.

moneynews.newsmax.com...

The unofficial troubled bank list as of 30 march 2009 ( 4 months old )
It is worse now than the march list shows.

bankimplode.com...

Over 1,000 Trillion in derivatives are set to implode.

theinternationalforecaster.com...

If this mess of biblical proportions triggers each other as one
goes it causes the other to go, we are so toast and to the
tune of 100's of trillions which is obviously a giant ponzi scheme.

There is not this much money in the world.

Prepare accordingly...

Good Luck to you all !

[edit on 20-7-2009 by Ex_MislTech]

All the spending is just an increase in credit - until it gets into the real economy, where it converts to money supply - and that means inflation.

Americans shouldn't worry about foreign debt - when a loaf of bread costs a trillion dollars then your kids can pay off the foreign debt with their lunch money.

The real problem here is that any savings are totally annihilated - this means that any capital in America is going to be destroyed by this.

Not only is the inflation destructive - but the low interest rates are also destructive. Why put money in the bank and save - when you get 0% - you would be better off gambling it.

You can't have capitalism without capital - and the US hasn't had any for 10 years.

Originally posted by Ex_MislTech

It has been confirmed by other news sources now that the
$134 billion in US bonds were likely real, and the japanese
men sneaking them around were likely japanese ministry of finance.

This is a Hal Turner Radio Network invented story typically spreading online.

The bonds in the denominations in question don't even exist.

If you believe there is such a thing as a billion dollar bearer bond you can cash like a money order or that Japan would risk their country's finances to send two people on a commuter train with enough to buy 4 countries - when they could do the transaction by wire. Well you are prepared to accept anything anyone claims.





[edit on 21-7-2009 by mmiichael]

Originally posted by mmiichael

Originally posted by Ex_MislTech

It has been confirmed by other news sources now that the
$134 billion in US bonds were likely real, and the japanese
men sneaking them around were likely japanese ministry of finance.

This is a Hal Turner Radio Network invented story typically spreading online.

The bonds in the denominations in question don't even exist.

If you believe there is such a thing as a billion dollar bearer bond you can cash like a money order or that Japan would risk their country's finances to send tow people on a commuter train with enough to buy 4 countries - when they could do the transaction by wire. Well you are prepared to accept anything anyone claims.

I agree that Hal Turner broke the story and likely got a lot of it
wrong, but ....

If those two had committed a crime why did they let them go ?

Mainstream news sources are starting to pick up the fact that
the two men were let go.

Ppl are asking what the hell is going on.

Chk it out here, they even say Hal Turner is not to be trusted,
but some of the things going on simply do not add up.

www.freerepublic.com...

market-ticker.denninger.net...

After you read those get back to me.

Why does this remind me of our economy?


Nothing to see here please!!!!

[edit on 21-7-2009 by David9176]

Originally posted by mmiichael

Originally posted by Ex_MislTech

It has been confirmed by other news sources now that the
$134 billion in US bonds were likely real, and the japanese
men sneaking them around were likely japanese ministry of finance.

This is a Hal Turner Radio Network invented story typically spreading online.

The bonds in the denominations in question don't even exist.

If you believe there is such a thing as a billion dollar bearer bond you can cash like a money order or that Japan would risk their country's finances to send tow people on a commuter train with enough to buy 4 countries - when they could do the transaction by wire. Well you are prepared to accept anything anyone claims.

Although I do have to agree that not all of the info is exactly on the up and up here, I have always said to people around me the bailout money in the end will not all be paid back and chances are we will see very little of it.

Of course one or two organizations will pay it off considering not every single organization is going to stiff the tax payers but the majority of it will just dissolve into the pool of economics. Chances are we will never hear about them paying it all back unless we actively search each organization individually.

Considering the probable economic downfall if it wasn't given out we won't hear much on what happens one way or the other through a good majority of the main stream news. My guess the less people know the less chance there is of panic and bank runs at the end of the day.

It's like saying, your gonna die do you want to be hung or a bullet through the head? Hung of course the long drawn out death of the dollar and the bullet being oh everything's all right their getting bail outs them bam the trigger is pulled.

If you know it's coming and going to take some time you at least have a small amount of time to take care of anything you may need to. But the bullet just kills the whole thing off instantly and increases the govt.'s chance of survival. After all, at that point your looking for any way to stop the bleeding and save your life, not worrying about how you got there or what idiot pulled the trigger.

The Government borrows money from the Federal Reserve to hand out to Federal Reserve members.

That’s a pretty nice arrangement when you think about it a minute, what is the Federal Reserve actually doing?

They of course could loan this money as the Private Institution they are, directly to the Private Institutions that the money is going too, in fact Banks borrow money from the Federal Reserve every day to meet their short term operating expenses and needs.

So why put the taxpayer in the loop? Why the need to make taxpayers interest paying guarantors of what are essentially Private Institution, to Private Institution Loans, or well, should be anyway?

It’s very simple, to in fact ‘enslave’ the taxpayer with the interest on the debt which only makes the Federal Reserve a Private Institution all the wealthier and minimizes to nothing the Federal Reserve’s risk in lending money to it’s Member Private Institutions that lets face facts…had the Federal Reserve been doing it’s job and monitoring and auditing it’s Member Institutions accordingly and responsibly none of the financial melt down could have or would have occurred.

This is nothing but an obscene plan to deeper and more completely enslave us to money and to our government.

It’s almost as if people don’t want to be human beings, and don’t want control of their own destinies and long to be slaves.

When the IRS sends you your yearly 1040 Form look how it is addressed, to Taxpayer, not to Citizen, but to Taxpayer, and really Taxpayer is a very nice word for Slave and these bailouts and the big all powerful wants to manage everything government is how you become enslaved to the phoniest most corrupt, evil, duplicitous and self defeating system of governance ever created for a people who not only are ‘supposedly’ free, but long to be.

It’s a shame when a lie becomes so big that even the truth can’t shine light on all it’s fetid underbelly.

There is already a thread on this topic here:
www.abovetopsecret.com...

Only $24 Trillion? What a relief. I was concerned that the figure would get closer to $30 Trillion. The feds are just playing with zeroes at this point in the game.

I am beyond all levels of frustration. I have actually reached the slap happy phase of this mess. TARP has become comical to me. Granted it is just one big dirty joke played on the gullible masses.

I am waiting for Ashton Kutcher to show up in the White House to tell the nation that we have been punk'd and that Obama is just an actor from the local SAG union.

an experiment i hope you will try, weigh some coins ( a silver dollar weighs an ounce)from your pocket hopefully an ounce and place them on your left.
now count out $946 on your right.
does it make sense that all that lovely dollars, can buy this that and the other.
OR
a couple coins that weighs 1 ounce?
daft eh?
maybe now you see the true value of your money, so if the bundle that SOME of you carry in your pocket, the money ain,t worth diddley squat, even thuogh you think you are rich.

O i put U in the wrong place (though)

[edit on 21-7-2009 by stmichael]

So in about 2020 will our National Language be Chinese?
Or will be all blown up by then?
I need answers !!...I should just go hide under a rock come late 2011..