I think this is just the beginning of pangs of distress. Who said that?
Sylvia
Yes, pangs of distress, indeed. Babylon the Great has cast her spell in the form of worthless fiat money, and most people remain committed to running in the hamster wheel, trying to make more worthless money, all their lives. As Christ said, you can not serve God and Mammon. You must choose one or the other. Choose wisely.
Oh, and by the way, your dollar just got seriously devalued by the bailing out of AIG, Fannie Mae, Freddie Mac, etc.
Probably
. But at least in the case of AIG, the 18 billion dollar loan has an 11% interest rate. Also, the Feds are holding 80% of AIG as collateral. AIG is a trillion dollar company, so that is good security. The Feds might actually profit off this in the end. Let's hope so.BTS
Well, to simplify it, let’s focus on how the Fed works. In order to loan AIG 18 billion dollars, they must pay the Treasury to print 1.8 billion dollars in currency. Assuming the mean bill to be printed equates to a 20 dollar bill, then the Fed pays the treasury 1.8 million dollars (1.8 billion/20*.02) to print that money so the loan can be made. Now, I’ll break this down into three issues:
1- AIG now pays the Fed around 200 million per year in interest (simple interest since the term is unknown). So the Fed makes around 198 million dollars per year for this "loan" that they created out of thin air. Keep in mind that the Fed is a privately owned corporation. Now, do the math on Fannie Mae and Freddie Mac. The Fed gets paid interest on those bail-outs as well, of course.
2- If there is 10 trillion dollars in circulation, and the Fed pays the Treasury to print 1 Trillion dollars, they just devalued the dollar in your hand, the one you work for, by 10%. But, since it is truly worthless already, based on faith alone, your really just like Pavlov’s dog. Except the dog actually got something of value.
3- The Ponzi scheme is being exposed, and the only Presidential Candidate running on a platform that would abolish the Federal Reserve is Ron Paul. But as long as people choose to remain ignorant of what is causing the problems, they will vote for the candidates the elite have propped up through their lobbies- Obama or McCain, two sides of the same coin.
Brother Apostate:
I looked up what you said and it seems to be very true..... for those doubting see the following link.
http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm
That link is misleading, as it states that the Fed is not a privately owned corporation.
This link tells all the juicy details that the foxes guarding the henhouse don’t like folks to know:
http://www.healthfreedom.info/Federal_Reserve_Fraud.htm
I'm not a big fan of Keith Olbermann on MSNBC, but he was really nailing Rupert Murdoch for saying it was good for these banks to be suffering losses.
As BTS stated, there should be no bailout for failures. Fannie Mae, Freddie Mac, AIG, should all have been allowed to bleed to death. This move by the Fed will only encourage more failures. As I stated previously, look for around 1000 failures by the end of 2009. Interesting that the CEOs of the two failures, Fannie Mae's Daniel Mudd and Freddie Mac's Richard Syron, will each get around 7 million as part of a severance package for failing miserably. Rewarding failure only encourages more failure.
Perhaps he is one of the owners of the Federal Reserve.
No, the owners of the Fed (Rothschilds, Rockefellers, Morgans, Lazards- full list here, though it’s out of date: http://www.save-a-patriot.org/files/view/whofed.html ) are craftier than that. They create a weak economy by manipulating markets, then wait for the failures to occur, then profit from loans to and bailouts of the failures. It’s the elites way of getting richer while they devalue your money, making you poorer. Fun stuff.
My mom and Dad grew up during the Great Depression. Their Mantra was pay off your home as soon as possible and stay out of debt. They kept their money out of the stock market. They followed their own advice. My father is gone but my mom at 74, is very financially secure....home paid for and no worries of losses in the market.
r.
That’s good advice, and everyone should follow it.
BA- Enjoy.