The Idiot's Cure For the Financial Crisis

Off Topic Politics and World Issues
61

[quote]dknz13 wrote:
<<<< A Long Post >>>>[/quote]

Which I read all the way through.

If you have ever supported a liberal democrat for any public office you are a moron despite how brilliant you may think you are.

If I have misapprehended the point of your post then I apologize in advance.

I am opposed to the government bailout of ANYBODY. From individual citizens to GM to Fannie and Freddie… period and all for the same reason. If they cannot stand on their own in a free market then f**k em, they don’t deserve to stand at all.

Both parties are traitorous.

62

[quote]rainjack wrote:
FightinIrish26 wrote:
rainjack wrote

This is about getting people with the money to spend the money. How’s the easiest way to get rich people to spend their money? Make the possible gain on that money tax free.

[/quote]

Do you know any rich people?

If you did you’d know there is NO way to get rich people to spend they’re money.

They horde. It’s why they’re rich.

This is why trickle down doesn’t work.

63

[quote]MitchorRuby wrote:
Do you know any rich people?

If you did you’d know there is NO way to get rich people to spend they’re money.

They horde. It’s why they’re rich.

This is why trickle down doesn’t work.[/quote]

You have no clue what you are talking about. Why don’t you give us your definition of hording.

64

[quote]MitchorRuby wrote:
rainjack wrote:
FightinIrish26 wrote:
rainjack wrote

This is about getting people with the money to spend the money. How’s the easiest way to get rich people to spend their money? Make the possible gain on that money tax free.

Do you know any rich people?

If you did you’d know there is NO way to get rich people to spend they’re money.

They horde. It’s why they’re rich.

This is why trickle down doesn’t work.[/quote]

Yes I do.

If you knew any and saw just how much money they invest, and how much of it they spend taking some risks, you’d know that a majority of them know you have to spend money to make money.

Warren Buffet just spent $3 billion to invest in GE.

Sorry, kiddo I call bullshit on your “knowledge”.

65

[quote]MitchorRuby wrote:
rainjack wrote:
FightinIrish26 wrote:
rainjack wrote

This is about getting people with the money to spend the money. How’s the easiest way to get rich people to spend their money? Make the possible gain on that money tax free.

Do you know any rich people?

If you did you’d know there is NO way to get rich people to spend they’re money.

They horde. It’s why they’re rich.

This is why trickle down doesn’t work.[/quote]

What you call “hording” I call saving and that is exactly what makes us rich as a society in the long run.

66

[quote]orion wrote:

What you call “hording” I call saving and that is exactly what makes us rich as a society in the long run.

[/quote]

Unfortunately your completely under control of the money makers, it doesn’t matter how rich you are… even if you have tangible assets.

From: President of the United States Franklin Delano Roosevelt
To: The United States Congress
Dated: 5 April, 1933
Presidential Executive Order 6102

Forbidding the Hoarding of Gold Coin, Gold Bullion and Gold Certificates By virtue of the authority vested in me by Section 5(b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled

An Act to provide relief in the existing national emergency in banking, and for other purposes~',

in which amendatory Act Congress declared that a serious emergency exists,

I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency still continues to exist and pursuant to said section to do hereby prohibit the hoarding gold coin, gold bullion, and gold certificates within the continental United States by individuals,

partnerships, associations and corporations and hereby prescribe the following regulations for carrying out the purposes of the order:

Section 1. For the purpose of this regulation, the term 'hoarding" means the withdrawal and withholding of gold coin, gold bullion, and gold certificates from the recognized and customary channels of trade. The term “person” means any individual, partnership, association or corporation.

Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following:
http://www.the-privateer.com/1933-gold-confiscation.html

Just think, that already happened once – seems like a wacky conspiracy…

PROTOCOL No. 22

  1. In all that has so far been reported by me to you, I have endeavored to depict with care the secret of what is coming, of what is past, and of what is going on now, rushing into the flood of the great events coming already in the near future, the secret of our relations to the GOYIM and of financial operations. On this subject there remains still a little for me to add.

  2. IN OUR HANDS IS THE GREATEST POWER OF OUR DAY - GOLD: IN TWO DAYS WE CAN PROCURE FROM OUR STOREHOUSES ANY QUANTITY WE MAY PLEASE.

  3. Surely there is no need to seek further proof that our rule is predestined by God? Surely we shall not fail with such wealth to prove that all that evil which for so many centuries we have had to commit has served at the end of ends the cause of true well-being - the bringing of everything into order?

67

You’re right. I got up this morning at 6 am, went to my pneumatic tube and pulled out a copy of my orders for the day from the Jewish money people.

68

[quote]LIFTICVSMAXIMVS wrote:
Nominal Prospect wrote:
Or do you want the currency to become worthless?

Isn’t it already becoming worthless.[/quote]

with every bill they print

with that 800+ billion today those presses will be real busy

69

the orders are there

just turn on the TV to any major news network

70

No I could never vote for a liberal democrat that is right. I was ranting about a lifestyle of no accountability. I can’t comprehend 700 billion dollars. I don’t even know what that would mean but its fake. we are printing paper that says money but its not backed by anything.

we have limited exports, limited capacity, limited leverage. Our marginal propensity to consume… our national expenditures… is the catalysis which drives our economy when it drops we have nothing because we dont produce anything. Thats the problem. Think warrior nerds think.

71

Interesting how everyone wants to get philosophical when times are rough.

I have some bad news for the Austrians:

The business cycle IS infinitely sustainable. They can, and will, continue to inflate ad nauseum. If the currency gets wiped out, there will be another one to take its place. There is no reason why the current system cannot be perpetuated forever. Even Griffin admits to this in his book.

[quote]LIFTICVSMAXIMVS wrote:
Nominal Prospect wrote:
Or do you want the currency to become worthless?

Isn’t it already becoming worthless.[/quote]

Not absolutely. Don’t forget that fiat is the rule, not the exception. There are no fundamentally sound currencies being issued today.

All that’s required to keep the “game” running smoothly is for all major financial institutions to inflate at roughly the same rate. To ensure that this occurs, we have central banks and international monetary funds.

Central banks represent a cartel of private business interests who operate under the protection of their national governments. It’s the most ironclad extortion mechanism that one could possibly devise. To become immune to the law, you must become the law. And they have.

72

[quote]dhickey wrote:
What does a bailout have to do with this? Why does it matter if the gov’t buys it now and sells it later, or the market buys it now?

Letting some of these guys fail will send a signal to the market. Leverage everthing you have and risk failure. Invest with heavily leverage companies and lose your money.[/quote]

Since all of the banks are insolvent, letting a major one fail could set off a chain reaction that takes out the whole industry. That’s why giving bailouts to large banks has been a matter of policy for decades.

[quote]LIFTICVSMAXIMVS wrote:
But the reason why it needs to “collapse” is so that prices can become stabilized once again. The bailout amounts to price fixing. If we bailout now, we will continue to have to bailout, ad infinitum.[/quote]

Well, it’s not as if this bailout represents a singular intervention into an otherwise unregulated market. Nothing could be further from the truth.

Yes, we’ll have to continue to bailout, ad infinitum. As we’ve been doing for decades already. “The name of the game is bailout”. CFJI, Chapter 2:

http://shallwebreakbread.blogspot.com/2008/10/name-of-game-is-bailout.html

http://en.wikipedia.org/wiki/Continental_Illinois_National_Bank_and_Trust_Co.
http://www.historycommons.org/context.jsp?item=financial_crisis_14

73

[quote]dknz13 wrote:
No I could never vote for a liberal democrat that is right. I was ranting about a lifestyle of no accountability. >>>[/quote]

Then I misunderstood, apologize and agree, but I have to be honest. I couldn’t make heads or tails out of the rest of your response.

74

Just found this on wiki:

Too Big to Fail policy

http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGIH,GGIH:2008-07,GGIH:en&q=Too+Big+to+Fail

75

[quote]PRCalDude wrote:

You’re right. I got up this morning at 6 am, went to my pneumatic tube and pulled out a copy of my orders for the day from the Jewish money people. [/quote]

So you get Cramer’s newsletter then.

Say, maybe the problem is we just don’t have ENOUGH of them and their infinite financial brilliance?

Greenspan Urges Congress To Fuel Growth of Derivatives, Feb 2000

Bernanke says sub-prime crisis could cost $100bn, Jul 2007

Bernanke Signals U.S. Should Pay More for Bad Debt
Sept. 23 (Bloomberg) – Federal Reserve Chairman Ben S. Bernanke signaled that the government should buy devalued assets at above-market values
http://bloomberg.com/apps/news?pid=20601068&sid=aqCh43qzoq5M&refer=home

Ben S. Bernanke, Federal Reserve Chairman
http://www.nndb.com/people/447/000094165/

Donald L. Kohn, Federal Reserve Vice Chairman
http://www.nndb.com/people/073/000169563/

Kevin M. Warsh, Federal Reserve Governor
http://www.nndb.com/people/074/000169564/

Randall S. Kroszner, Federal Reserve Governor
http://www.nndb.com/people/681/000161198/

Frederic S. Mishkin, Federal Reserve Governor
http://www.nndb.com/people/075/000169565/

Barney Frank, Chairman of the House Financial Services Committee

Personally I find it highly offensive that people continue to buy into the anti-semitic stereotype that Jews are smart and good with money.

76

[quote]JustTheFacts wrote:
orion wrote:

What you call “hording” I call saving and that is exactly what makes us rich as a society in the long run.

Unfortunately your completely under control of the money makers, it doesn’t matter how rich you are… even if you have tangible assets.

[/quote]

This is not entirely true because if I own means of production, like land, buildings and machines they can blow me.

Their inherent value lies in the ability to produce consumer goods.

77

[quote]Nominal Prospect wrote:
Well, it’s not as if this bailout represents a singular intervention into an otherwise unregulated market. Nothing could be further from the truth.

Yes, we’ll have to continue to bailout, ad infinitum. As we’ve been doing for decades already. “The name of the game is bailout”. CFJI, Chapter 2: [/quote]

I just cannot accept the idea that someone has a legal right to steal from me either directly thru taxation or indirectly by devaluing currency. The only people that are really protected are the bankers that are “too big to fail.”

A second depression is coming like it or not. There is nothing any government can do about it. I do not think the government can keep bailing out without consequence simply because money is about trust. There is no reason for people (especially foreign investors) to continue to trust the soundness of the currency. That is essentially what this credit squeeze is.

The fed has no real way to inject liquidity into the market simply because they cannot force lending to happen. That will only happen when confidence returns.

78

So John Sununu (one of NH’s republican senators) is back from Washington and I bumped into him at a black tie benefit last night. I introduced myself and reminded him we previously met at a Lebanese festival over the summer. (By the way, “Sununu” means sparrow in arabic). I reminded him that we talked about the 2nd Amendment and that if the “assault gun” ban ever came up for reauthorization, I hoped he would vote against it. He said he agreed and that pleased me. He seemed to remember me. He said, “Yeah. I remember. You were dressed a lot more casual. You were wearing shorts”.

“Good guess”, I said, “Anyway… I sent you an email on Wednesday. I told you I was against the bailout.”

“Well, what were we going to do, nothing? This is a serious problem”.

"Senator, I’ve read that bill. You’d think that if the problem was that serious, the Senate would have been able to craft a bill to address the problem. A bill that could stand on its own, that Congress could support on its own merits. I’ve read that 451 page bill and except for 94 pages, it seems like it contained lots of additions that were designed to make it hard for senators and representatives to vote against it.

“Let me explain something”, he said. “What I say may not change your mind, but it’ll put the bill into context. The additions that you have an issue with weren’t put into to get support for the bill. They were a tax package that the Senate had voted on and passed last week. We just combined two bills and sent it back to the House. Futher, those additions gave the representatives a reason to change their vote. A chance to vote for a bill they rejected.”

“Thanks Senator. Thanks for the insight”.

Ironically, the 2 NH democratic representatives voted against the bill when it hit the House on Friday.

79

Are they smart and good with money? Of course. But the idea of giving away money to people who didn’t deserve it had plenty of goyim helping it along, starting with a Methodist named George W. Bush. It’s funny that the same “Jewish powers” you see behind everything still existed under previous presidents, yet we didn’t have these problems. No, this whole thing carried with it plenty of blame to go around.

80

[quote]PRCalDude wrote:
Personally I find it highly offensive that people continue to buy into the anti-semitic stereotype that Jews are smart and good with money.

Are they smart and good with money? Of course. But the idea of giving away money to people who didn’t deserve it had plenty of goyim helping it along, starting with a Methodist named George W. Bush. It’s funny that the same “Jewish powers” you see behind everything still existed under previous presidents, yet we didn’t have these problems. No, this whole thing carried with it plenty of blame to go around. [/quote]

Freemasonry has been around for a long time.