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Old 04-11-2008, 03:23 PM  
Stewie Stewie is offline
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This is getting serious folks...

Fed information as of 4/10/2008 shows non-borrowed reserves at ($99) billion compared to total reserves of $45 billion. A negative non-borrowed is a double negative and that means NOW banks have negative REAL reserves to a factor of 2X.

That means with the OTC derivatives and CDOs they hold, most of the big banks are truly insolvent. Where's your money?

The Fed will pull every string it can to correct the situation including handing all this junk to the last sucker (taxpayers). The big banks surely won't be harmed by their stupidity, they're too entwined with the powers that be.

Have a good weekend!
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Old 04-11-2008, 03:35 PM   #2
jAZ jAZ is offline
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Is this what they call "burying the lede"?
Quote:
Originally Posted by Stewie View Post
...most of the big banks are truly insolvent.
Damn. Thanks for crapping in my Cheerios.

Where's my mattress?
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Old 04-11-2008, 03:55 PM   #3
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Maybe once the free money ethic that's ruining our country is finally exposed for what it really is (dishonesty) and enough honest people are personally affected, people will start to realize that we've been scammed big time by a bunch of business crooks and war profiteers, both on Wall Street and in the White House. Too bad it's going to take a lot of innocent people getting hurt badly for the people of this country to wake the **** up.
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Old 04-11-2008, 04:05 PM   #4
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Hopefully we can get rid of our progressive money system which prints cash from thin air and go back to honest money.
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Old 04-11-2008, 04:08 PM   #5
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Quote:
Originally Posted by Taco John View Post
...our progressive money system...
What is this?
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Old 04-11-2008, 04:19 PM   #6
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Hopefully we can get rid of our progressive money system which prints cash from thin air and go back to honest money.
And while we're at it, let's get rid of the "thin air" concepts of market manipulation and speculation as the overriding economic factors. Let's return ideas, products and services, and labor as the driving forces of our economy again.

You can still be an investor and a free marketeer even if you don't believe in the greed and corruption that has exemplified corporate America over the past thirty years.
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Old 04-11-2008, 04:26 PM   #7
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What is this?
The money system which came with the widespread introduction of progressivism. Our money system is based on Keynesian economics. It's essentially a socialist economic system. But some of our resident socialists don't like that word, so I thought I'd be kind and call it "progressive" since it was the progressive presidents of our era who ushered it in.
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Old 04-11-2008, 04:26 PM   #8
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And while we're at it, let's get rid of the "thin air" concepts of market manipulation and speculation as the overriding economic factors. Let's return ideas, products and services, and labor as the driving forces of our economy again.
That's what I said. Only I didn't need to mindlessly bloviate to get the point across.
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Old 04-11-2008, 04:27 PM   #9
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Quote:
Originally Posted by Taco John View Post
The money system which came with the widespread introduction of progressivism. Our money system is based on Keynesian economics. It's essentially a socialist economic system. But some of our resident socialists don't like that word, so I thought I'd be kind and call it "progressive" since it was the progressive presidents of our era who ushered it in.
What's socialist about it? I don't know enough to even see the link you have in mind.
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Old 04-11-2008, 04:27 PM   #10
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...except for the speculation part. That's just stupid talk.

You'll never be able to regulate speculation.
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Old 04-11-2008, 04:28 PM   #11
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What's socialist about it? I don't know enough to even see the link you have in mind.
You're not supposed to. You're supposed to think that I'm crazy for even suggesting it. Why aren't you pointing and laughing?

*tap* *tap*

Is this thing on?
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Old 04-11-2008, 04:29 PM   #12
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Quote:
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And while we're at it, let's get rid of the "thin air" concepts of market manipulation and speculation as the overriding economic factors.
That would be the Fed, my dear.
That ain't a free market.
A shame it gets a bad rap for what really is market manipulation.
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Old 04-11-2008, 04:30 PM   #13
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Stewie you're scaring the b'jeezus outta me!!
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Old 04-11-2008, 04:30 PM   #14
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That's what I said. Only I didn't need to mindlessly bloviate to get the point across.
Then we agree on something.
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Old 04-11-2008, 04:35 PM   #15
Stewie Stewie is offline
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Quote:
Originally Posted by penchief View Post
And while we're at it, let's get rid of the "thin air" concepts of market manipulation and speculation as the overriding economic factors. Let's return ideas, products and services, and labor as the driving forces of our economy again.

You can still be an investor and a free marketeer even if you don't believe in the greed and corruption that has exemplified corporate America over the past thirty years.
Thirty years? They were just getting warmed up 85 years ago. They (the banks) rigged the system to their benefit way back then. In fact, Henry Ford was outraged that the Federal gov't was issuing BONDS! WTF? Why does the Federal gov't need to issue bonds? Oh wait, the banks got $36 million profit (for doing nothing) on a $30 million power project. Nothing has changed since then.
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