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However, when GIVING a loan, i am unsure why WE are collateral.
Unless the loans were completely unsecured? Or we aren't working for ourselves? The recipient provides collateral...how were WE used?
Good point. I hope that can be cleared up. I bet Proto has something to say about it.
Originally posted by nickoli
I think if everybody digs a little deeper you'll find that the fed used "its" money for these transactions. This is hard to cipher because the fed is so secretive.
I know Harley Davidson got some of this money but it wasnt really money,the fed bought Harley paper or notes from H-D credit corp. The implications are still insidius,now the fed owns interest in these corporations banks or companys,maybe controlling interest. Again its hard to tell as like usual we arent given all the facts.
As a result I'm planning on turning my 09 HD back in to Harley and they can eat it for all I care.I would have never bought the bike had I known they recieved a bailout,it goes against everything I stand for and now I caint stand to even look at it.
Fed report lifts lid on Great Bank Heist of 2008-2009
How's this then:
Originally posted by Gooseone
Although this figure is a total and not spend all in one time ( i presume ) i find it a bit absurd
that 12.3 trillion is more then the total money supply in dollars which was 10.2 trillion in 2006.
After 2006 the Fed decided it was not a relevant enough statistic to publish anymore.
I am also not completely sure if this "M3" money supply stat is the actual sum of dollars in excistence.
Anyway , it's just.........
It is not funny anymore to have a conversation with someone and only hinting that there might be something wrong in the financial system with facts to be found in credible newssources and wiki and such and people still do not care.
I hope Ron Paul and Bernie Sanders are able to put up a decent fight against much of this blatant theft.
The Next Shoe to Drop
By Morgan Housel | More Articles
May 27, 2008 | Comments (1)
Let me give you a few numbers: $9.40 trillion, $13.79 trillion, $45 trillion. What do these hefty figures represent?
* $9.4 trillion is amount of outstanding public debt in the United States.
* $13.79 trillion is the size of the U.S. economy, in terms of 2007 GDP.
* $45 trillion ... drumroll, please ... is the notional amount of credit default swap contracts swimming around financial markets.