Author Topic: Economy of your lives - WARNING! get your money out of the bank now  (Read 48672 times)

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Offline Kregener

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Re: We CAN drop gas prices!
« Reply #120 on: March 16, 2008, 10:39:54 am »
This stupid idea won't work because people are not gonna cooperate. Soon as exxon cuts their gas prices, everybody will go there.

The way to lower gas prices is to reduce consumption and the best way to do that is to get people to buy smaller vehicles. I'd like to see an annual tax of say $2 for each pound the vehicle's listed weight exceeds 3000 pounds. You drive a $7000 pound excursion, you pay $8,000 a year.

And of course, we need to lower speed limits back to 55.  That would save gas and lives just like it did in the 70s.

Are you in the right Forums?

You say the idea is stupid and will not work, by explaining exactly WHY the idea WOULD work.

Then you call for MORE 'government' mandates, rules, regulations, wealth re-distribution, taxation and control.

 :o
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Offline dogmadestroyer

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Re: We CAN drop gas prices!
« Reply #121 on: March 16, 2008, 10:44:35 am »
This stupid idea won't work because people are not gonna cooperate. Soon as exxon cuts their gas prices, everybody will go there.

The way to lower gas prices is to reduce consumption and the best way to do that is to get people to buy smaller vehicles. I'd like to see an annual tax of say $2 for each pound the vehicle's listed weight exceeds 3000 pounds. You drive a $7000 pound excursion, you pay $8,000 a year.

And of course, we need to lower speed limits back to 55.  That would save gas and lives just like it did in the 70s.

What the hell are you smoking? That is a horrible idea just like when you were justifying red light cameras. Those very same cameras that cities are messing with, making yellow lights shorter, and causing accidents to occur for more profit in ILLEGALLY given tickets because the driver was not there to consent.
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Offline changedname

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Re: We CAN drop gas prices!
« Reply #122 on: March 16, 2008, 11:04:01 am »
Are you in the right Forums?

You say the idea is stupid and will not work, by explaining exactly WHY the idea WOULD work.

Then you call for MORE 'government' mandates, rules, regulations, wealth re-distribution, taxation and control.

 :o

Yup!

Offline HenryDavidThoreau

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #123 on: March 16, 2008, 02:03:22 pm »
DOLLAR INDEX PLUMMETING!!!!!!!!!!!!!!!

HOLY SHIZNIT!!!!

USDX = 71.65

PLUMMETING EVEN MORE FOLKS

Offline chilicooker

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Re: WARNING! get your money out of the bank now
« Reply #124 on: March 16, 2008, 03:20:12 pm »
I'm 19 and have had no experience with converting money to other currencies before.
Has anybody actually taken all their money out yet? And are we talking about just saving accounts or all our accounts like checking?
Thanks.
I was always against buying gold or silver. Once I realized that my bank accounts could be rendered useless, the almighty dollar will probably be an expensive form of toilet paper.

If someone is still willing to trade dollars for gold or silver, they can have it and good luck to them.

I've already dumped a lot of my savings into gold, but mostly silver. I'll never turn it in, even if the Government "calls it in".  I don't need my bank account and I don't rely on Fiat currency (or computerized wealth). I have wealth because I invested in storeable foods. 
I won't need to trade anything for food. I probably have 10 years of food stocked up.
I'm just making sure the Globalist's cant steal my savings account by closing banks or destroying the economy.
I've cashed in my stocks, I've cashed in my insurance policies, I've cashed in my 401K.

You need to decide for yourselves and take your own risks. I don't suggest anything. Do what you think is right for you.
 
No matter what happens, no matter what you believe will happen, get yourself some protection from what MIGHT happen. Trading in "Dollars" for gold or silver seems to be fairly smart to me after all.

"They" can trash the Dollar, they can't trash gold or silver. Silver seems to be a smarter move to me and that's what I concentrate on. I have a few gold coins but I buy as many silver coins as I can.
Not for the coin value, I only buy for the content value. .999 pure silver. It's all I'll buy. Even if it's blanks.
None of it will make you rich, but at least you won't be left with nothing if banks lock their doors and your ATM card no longer works. And, if nothing happens, you can always trade it back for paper money.
Just don't trade it back, trying to make a few bucks. Hold onto it because we haven't seen anything yet. Stop worshiping the dollar. It isn't your God. Those days are over.

The rest is for you to decide. 


 




Offline HenryDavidThoreau

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #125 on: March 16, 2008, 04:58:40 pm »
NOW ITS 71.48

THE USDX DROPPED BY 0.17 IN JUST 2.5 HOURS!!!!!!!

Offline goulash

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #126 on: March 16, 2008, 05:52:52 pm »
 re fuel  consumption + commuting distance   about the same UK USA  for large town /metros  30 -45 miles per day average

  because   middle class  " drive larger  car's  in UK cause the bought  in to the bigger d46569565 k syndrome     there stuck in some range-rover  ego car   because  they have to look right plus gm is selling it overstock here   pickups  crew cabs  hummer it so funny  to see the huge  cars on the older road's   
get  a bike     or   m-cycle trike go mad get  a 'orange county'  chopper    or this    paid for by  unkle sam and   your   tax  $


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peace  is war enjoy ..where's the  war  were  always at war ™ ' said harry i do like  it so'

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Offline Constitutional Patriot

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #127 on: March 16, 2008, 05:56:35 pm »
In 1999 I paid $0.77 per gallon of gas in Houston, TX.

Today I pay $3.29 per gallon in Dallas, TX.

That is 427% inflation in 8 1/2 years.
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Offline industria

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #128 on: March 16, 2008, 06:44:46 pm »

Wall Street fears for next Great Depression
http://www.independent.co.uk/news/business/news/wall-street-fears-for-next-great-depression-796428.html

 By Margareta Pagano, Business Editor
Sunday, 16 March 2008

Wall Street is bracing itself for another week of roller-coaster trading after more than $300bn (£150bn) was wiped off the US equity markets on Friday following the emergency funding package put together by the Federal Reserve and JPMorgan Chase to rescue Bear Stearns.

One UK economist warned that the world is now close to a 1930s-like Great Depression, while New York traders said they had never experienced such fear. The Fed's emergency funding procedure was first used in the Depression and has rarely been used since.

A Goldman Sachs trader in New York said: "Everyone is in a total state of shock, aghast at what is happening. No one wants to talk, let alone deal; we're just standing by waiting. Everyone is nervous about what is going to emerge when trading starts tomorrow."

In the UK, Michael Taylor, a senior market strategist at Lombard, the economics consultancy, said on Friday night: "We have all been talking about a 1970s-style crisis but as each day goes by this looks more like the 1930s. No one has any clue as to where this is going to end; it's a self-feeding disaster." Mr Taylor, who had been relatively optimistic, has turned bearish: "It really does look as though the UK is now heading for a recession. The credit-crunch means that even if the Bank of England cuts rates again, the banks are in such a bad way they are unlikely to pass cuts on."

Mr Taylor added that he expects a sharp downturn in the real UK economy as the public and companies stop borrowing. "We have never seen anything like this before. This is new territory for us. Liquidity is being pumped into the system but the banks are not taking any notice. This is all about confidence. The more the central banks do, the more the banks seem to ignore what's going on."

Mr Taylor added that the problems unravelling at Bear Stearns are just the beginning: "There will be more banks and hedge funds heading for collapse."

One of the problems facing the markets is that, despite the Fed's move last week to feed them another $200bn, the banks are still not lending to each other.

"This crisis is one of faith. We are going to see even more problems in the hedge funds as they face margin calls," said Mark O'Sullivan, director of dealing at Currencies Direct in London. "What we are waiting for now is for the Fed to cut interest rates again this week. But that's already been discounted by the market and is unlikely to help restore confidence."

Mr O'Sullivan added that the dollar's free-fall is set to continue and may need cuts in European interest rates to trim the euro's recent strength against the dollar. "But the ECB doesn't like cutting rates," he said.

On Europe, Mr Taylor said that while the German economy remains strong, others such as Italy's and Spain's are weakening. "You could see a scenario where the eurozone breaks up if economies continue to be so worried about inflation."

European financial markets were relatively unscathed by Wall Street's crisis but traders expect there to be a backlash when stock markets open tomorrow.

The Fed's plan will give 28 days of secured funding to Bear Stearns, which saw its value slashed over the week by more than a half to $3.7bn. JP Morgan will provide the funding, but the Fed will bear the risk if the loan is not repaid. Fed chairman, Ben Bernanke, who pumped $200bn of loans to cash-strapped institutions last week, said more would be available to help others in distress.
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Offline WeAreChangeNewMexico

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Re: Economy of your lives
« Reply #129 on: March 16, 2008, 06:52:35 pm »
I used to get a junior bacon cheeseburger for .99 cents and a .99 cent frosty from Wendys, now they are each 1.29 >:(

Gross you eat that crap?
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Offline Ziggy

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #130 on: March 16, 2008, 07:37:31 pm »
In 1998 diesel was $.89 a gallon. Now in some places its over $4.00. Diesel is a bi-product of manufacturing gasoline so you would think it would be cheaper then gas. Me thinks we get screwed!

Offline 37

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #131 on: March 17, 2008, 08:56:40 am »
Markets in Asia and Europe all dropped at least 3%...Hong Kong was over 4%.  http://www.cnbc.com/id/23666482

A Monday drop after a bailout and rate cut...  http://www.cnbc.com/id/23671800

Last night CNBC had many articles on the home page talking about this being a rocky week for the markets... 

Starting to look a little black, on this Monday morning...
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Offline StemCell

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #132 on: March 17, 2008, 11:02:44 am »
Lots of stats from the 50's

http://www.fiftiesweb.com/pop/1950.htm

Offline uwaf

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #133 on: March 17, 2008, 11:30:15 am »
BYE BYE MISS AMERICAN PIE............drove my chevy to the levy and the levy was dry, them good ol boys were drinking whiskey and rye, singing, this'll be the day that I die..........

Offline Nailer

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #134 on: March 17, 2008, 11:40:29 am »
the stock market song would be  Tom Petty  "free falling"..  LOL
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
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Offline Loungin

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #135 on: March 17, 2008, 12:23:11 pm »
From CNBC
-------------------
A fire sale of Bear Stearns stunned Wall Street and pummeled global financial stocks on Monday on fears that few banks are safe from deepening market turmoil.

As a result, financial firms face a "new world order," CreditSights concluded.

President Bush assured the world that the United States was "on top of the situation" in financial markets as the Federal Reserve geared up for a deep cut in interest rates on Tuesday to blow money into the fragile financial system.
------------------
continues at..
Quote
http://www.cnbc.com/id/23671674

As for the reference to the New World Order...  as Sane would say, "You can't make this shit up!"


Offline undergrounddog

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #136 on: March 17, 2008, 01:39:16 pm »
It is just like a movie script and it is real as can be...scaryyy

Offline sid

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #137 on: March 17, 2008, 01:52:38 pm »
Anyone remember Rollover with Kris Kristofferson and Jane Fonda?

Offline Nailer

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #138 on: March 17, 2008, 02:15:18 pm »
anyone ever hear of this site .

http://www.trunews.com/
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
The truth shall set you free, if not a 45ACP round will do the trick.. HEHE

Offline lord edward coke

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Re: Economy of your lives
« Reply #139 on: March 17, 2008, 02:49:12 pm »
Milk costs more than gasoline. Splain that to me???? (It doesn't need to be tankered, shipped overseas or refined.)

Do the farmers who've stopped growing wheat (and now grow corn for bio-fuels) think they're going to become the next generation of Oil Barons? That ain't gonna happen so they had better smarten up.
Their screwing with the world's food supply.
When I have to pay $10 for a box of pasta or loaf of bread, I'm not going to blame the government.



milk does have to be'' tanked'''' shipped'' and ''refined''  the farmers get about 16$ or so per hundredweight.   its the dairy that makes the killing
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Offline Fleahman

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #140 on: March 17, 2008, 02:53:34 pm »
Quote
Perhaps the Federal Reserve Bank isn’t stupid, but is shrewdly pulling off the biggest bank robbery in history. How? By nationalizing our banks! When the Federal Reserve Bank told the bankers to hand over their portfolio of mortgage securities containing millions of homes, the Federal Reserve Bank literally took over everything. Few people comprehend what is happening. We are becoming a Fascist state.Perhaps the Federal Reserve Bank isn’t stupid, but is shrewdly pulling off the biggest bank robbery in history. How? By nationalizing our banks! When the Federal Reserve Bank told the bankers to hand over their portfolio of mortgage securities containing millions of homes, the Federal Reserve Bank literally took over everything. Few people comprehend what is happening. We are becoming a Fascist state.

That quote was from the trunews.com link

What it means I am not entirely sure.  could someone please explain to how our banks have become nationalized and what this could mean?  I am definatley one of those people that does not comprehend what is happening but I am trying to.  Please put this into layman's terms if possible break it down for me. thanks

Offline rick reuben

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #141 on: March 17, 2008, 03:14:34 pm »
All banks are currently nationalized, but not in the sense that a private oil company or utility is nationalized by a democratic government. The more correct term would be 'corporatized'. Large regional banks are partners in a cartel controlled by the private central bank. The private central bank holds the monopoly on creation of debt-backed currency, and any local bank is a franchise. The US government is a corporation formed after the bankruptcy of the US ( the US, as in 'the previous republic' ) in 1933. The owners of the central bank and the corporation are one and the same. The product is debt, their profit is interest plus wages collected by their private collection agency, the IRS ( also a corporation, and not a federal agency ).

 You are a chattel slave of a cartel. The former republic traded the rights to your future earning power ( and that of your parents and grandparents, and that of your children and grandchildren ) to the cartel in return for a license to issue endless debt-backed currency.

 Their goal was to make the US debt grow so sizable that they could paper the world with the fake fiat money, trading it for real assets. Then, phase two is to collapse the currency and collect remaining real assets from those who have tied them to debt, or from people who have been driven to bankruptcy by the evaporation of their paper wealth.

Real nice people. People have been warning about this exact scenario for I don't know, thousands of years, but since many people are dumb and greedy and easily fooled by lies, this very simple debt money scheme has worked a number of times. ( Worked for the captors, I mean- not for the captives ).


Offline life0repeats

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #142 on: March 17, 2008, 03:32:46 pm »
All banks are currently nationalized, but not in the sense that a private oil company or utility is nationalized by a democratic government. The more correct term would be 'corporatized'. Large regional banks are partners in a cartel controlled by the private central bank. The private central bank holds the monopoly on creation of debt-backed currency, and any local bank is a franchise. The US government is a corporation formed after the bankruptcy of the US ( the US, as in 'the previous republic' ) in 1933. The owners of the central bank and the corporation are one and the same. The product is debt, their profit is interest plus wages collected by their private collection agency, the IRS ( also a corporation, and not a federal agency ).

 You are a chattel slave of a cartel. The former republic traded the rights to your future earning power ( and that of your parents and grandparents, and that of your children and grandchildren ) to the cartel in return for a license to issue endless debt-backed currency.

 Their goal was to make the US debt grow so sizable that they could paper the world with the fake fiat money, trading it for real assets. Then, phase two is to collapse the currency and collect remaining real assets from those who have tied them to debt, or from people who have been driven to bankruptcy by the evaporation of their paper wealth.

Real nice people. People have been warning about this exact scenario for I don't know, thousands of years, but since many people are dumb and greedy and easily fooled by lies, this very simple debt money scheme has worked a number of times. ( Worked for the captors, I mean- not for the captives ).



post of the day.  great post - not great news, but the breakdown is dead on.

Offline rick reuben

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #143 on: March 17, 2008, 05:14:18 pm »
post of the day.  great post - not great news, but the breakdown is dead on.
Thank you. It's all stuff that you can hear every day on AJ's show and read all over the web. It's nothing that I had to 'think up'. That's what makes this scam so galling to witness- the antidote to this mirage of debt-backed currency is everywhere! *Knowledge* It requires no serious economic training to comprehend- and yet...the scam works.

 God damn.

 It's as simple to understand as a game of hot potato. Debt-backed money is a hot potato. If you take debt-backed money as payment for your labor or for something you built, it only has value if you can pass that hot potato down the line to some new person for something else you need. The intrinsic value of debt-backed money or a hot potato is minimal. It's faith-based value. But then, when the game has carried on long enough, the debt-money has so much debt attached to it that it becomes hard to hold for very long, without it losing value practically overnight. The potato is too hot. You have to pass it on to someone else, quickly, before they demand two potatos for what one potato used to buy. People smell that hot potato cooking.

Who wants a burned potato?

That's the stage we're in now.

Around the world, the sellers of toasted potatos are outnumbering the buyers. The buyers are naming their price. Dropping the price. Race to the exits. Faith in the dollar is going to evaporate more rapidly, and then it is going to burn off like fog at dawn- quickly.

 Children understand this.

 Money must be backed by a commodity. If you tell a child you'll give him an ice cream cone and you give him a piece of paper with a picture of an ice cream cone drawn on it, he'll scream his head off. But you can give an adult a piece of paper with a freaking Illuminati eye on it and tell him it's a 'dollar', and most will nod and go, "Oh, well. They take this paper at my gas station- guess it's just as good."

Joke's on them. You cannot underpin money with debt, because as quantity of debt increases, purchasing power decreases. Two vectors on a graph, X trending up, Y trending down. The US has now passed the intersection on that graph- and you know what happens to two  locked-in trends on a graph once they pass, right? The spread between the two widens. If the only tool the Fed has is added liquidity, and they abuse that privilege, they exacerbate every condition that influences the downward trend of purchasing power.

 The dike has burst at this point. They're bailing out the Titanic by increasing the size of the iceberg that hit it in the first place.

 I wonder why God would even have mercy on this country. We have been so damn stupid. We let a cabal of ten people spawn a con game that bought our entire country and then began dismantling it in a fire sale.

Offline pac522

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #144 on: March 17, 2008, 05:33:10 pm »
Who in their right mind would think it's OK to give the issuing of a country's money to a private organization? Who would think it's OK to print money, with nothing backing it and charge interest on it? I have no idea why our own government couldn't handle this task. This is beyond comprehension, and as to why it works, that's because the public didn't know from the on set what was happening. Is it too late to stop it? Hell no.

I've also read the corporation, 1933 thing, is that for real?
This country did not achieve greatness with the mindset of "safety first" but rather "live free or die".

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Offline rick reuben

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #145 on: March 17, 2008, 06:17:22 pm »
I've also read the corporation, 1933 thing, is that for real?
As far as I know. I'm sure I don't have the full story and I'm sure that part of what I do have might be wrong, but basically, the US is constructed and managed just like a corporation, with shareholders and everything. An 'off-shore' corporation, sort of, because who knows what the District of Columbia even is? It looks like a territorial protectorate that is not subject to the laws of the fifty states. Its legal status looks a lot closer to Vatican City or the City of London. Why the hell would you create a capitol for your country that is under separate jurisdiction from the country it governs?

If you look at the masonic theme park that is DC, you start to wonder if 'America' ever was an independent nation- you can make a case that the Founding Fathers were actually controlled opposition in a Hegelian dialectic synthesis triangulation from the very start. I recognize that sounds far fetched, but when you look at all the Illuminati tributes in America that pre-date the Fed branding our dollar with the pyramid and the eye, you start to wonder if blaming the Jekyll Island gang for what we have is not going far enough back in history. The evidence that the US civil war was a total NWO concoction is just as strong as the evidence that world wars one and two were.

We know these elites think long term, and they're demonically crafty. They send agents to pose as opposition all the time, to serve their long-term agendas.

In short, it appears that FDR and the Banking Act of 1933 completed the conversion of the US from republic to corporate property, but I really can't say with confidence that 'the people' ever had their hands on the reins to begin with.

Offline Pastorofmuppets84

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #146 on: March 17, 2008, 07:06:56 pm »
Who in their right mind would think it's OK to give the issuing of a country's money to a private organization? Who would think it's OK to print money, with nothing backing it and charge interest on it? I have no idea why our own government couldn't handle this task. This is beyond comprehension, and as to why it works, that's because the public didn't know from the on set what was happening. Is it too late to stop it? Hell no.

I've also read the corporation, 1933 thing, is that for real?

Woodrow Wilson is the man who let it happen. That bastard.

He knew it too, and was in deep regret over this decision after his presidency. That peice of trash allowed the US to be stolen from us.

Offline pac522

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #147 on: March 17, 2008, 07:59:24 pm »
Like I said, I've read about it, I just don't know if it's truth. Has Alex talked about it?

http://www.apfn.net/DOC-100_bankruptcy.htm

http://www.barefootsworld.net/usfraud.html

This one has the link to the Congressional record, could someone that's a half a lawyer answer, is it true?

http://www.afn.org/~govern/bankruptcy.html

If it is true, then what are we fighting for? We must abolish the FED!
This country did not achieve greatness with the mindset of "safety first" but rather "live free or die".

Truth is the currency of love. R[̲̅ə̲̅٨̲̅٥̲̅٦̲̅]ution!

We are all running on Gods laptop.
The problem is the virus called the Illuminati.  ~EvadingGrid

The answer to 1984 is 1776.

Offline Dronethunk

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #148 on: March 17, 2008, 07:59:41 pm »
yes, interesting info on amaranth, etc

I was just struck by the amount of people here who still seem so
big on eating the wonder bread and milk.

bread is full of yeast and gluey gluten, preservatives, and god knows what
other chemicals: yech

and see this video on milk:
http://www.youtube.com/watch?v=tYpafipJyDE




Offline TimeLady

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #149 on: March 17, 2008, 08:03:59 pm »
makes me wish I would have bought more than one bag of wheat when I had the money

50 pounds of wheat, it only cost me $100 (including shipping) at the time.

I've barely used any of it since I bought it six months ago.
Hanlon's razor: Never attribute to malice that which can be adequately explained by stupidity.

Offline Mesogen

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #150 on: March 19, 2008, 10:26:53 am »
I just tried to buy some bread and cheese.

Some sliced provolone that used to be about $3 is now $5.
Toilet paper is now totally obscene. A 12 pack costs $9-10.
Tried to get some ribeyes. They used to be at most $8.99 a pound a couple of years ago. Now they are $11.99 or more.



Rock

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #151 on: March 20, 2008, 03:10:21 pm »
makes me wish I would have bought more than one bag of wheat when I had the money

50 pounds of wheat, it only cost me $100 (including shipping) at the time.

I've barely used any of it since I bought it six months ago.

Yep, ethanol and overseas trading is why we don't have enough here in America.

Rock

Offline Nailer

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #152 on: March 20, 2008, 03:40:11 pm »
Something weird is going on .

CNN money  has the DOW finishing out the day at +14pts  at 12,133.30. Evevn tried refreshing the page.

MSN has the DOW at +261.66 at 12,362.62.

The CNN money  is usually right up to date and accurate.. I will check Bloomberg and see. Bloomberg has it at +261.66 also.
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
The truth shall set you free, if not a 45ACP round will do the trick.. HEHE

Rock

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #153 on: March 20, 2008, 03:43:03 pm »
Your eyes are not tricking you.  Its just your friendly fed pumping billions of fiat dollars into the NYSE.  They have to do that to keep panic to a minimum.


Rock

Offline Nailer

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #154 on: March 20, 2008, 03:57:51 pm »
Your eyes are not tricking you.  Its just your friendly fed pumping billions of fiat dollars into the NYSE.  They have to do that to keep panic to a minimum.


Rock

OH yeah our tax dollars at work , SAVE THE CORRUPT BANKING SYSTEM!!!!!   
I am a realist that is slightly conservative yet I have some republican demeanor that can turn democrat when I feel the urge to flip independant.
 
The truth shall set you free, if not a 45ACP round will do the trick.. HEHE

Offline yanaar

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #155 on: March 20, 2008, 04:03:13 pm »
Anyone remember Rollover with Kris Kristofferson and Jane Fonda?

Yeah... I remember that film.  Economic collapse happened over night.  Kristofferson referred to the "illusion" of financial security.  That was 20 years ago, n'est pas?
"The man who dies wealthy dies in disgrace." 
Chaucer

Offline realitycheck101

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #156 on: March 20, 2008, 06:35:05 pm »
In 1998 diesel was $.89 a gallon. Now in some places its over $4.00. Diesel is a bi-product of manufacturing gasoline so you would think it would be cheaper then gas. Me thinks we get screwed!

Me thinks you are on to something.. ;D

Offline NotASheep

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #157 on: March 20, 2008, 08:55:12 pm »
I fear for the future of my children.  It can't keep going like this!  If I had any money in the bank I'd get it out...  Maybe everything will get better when they complete the NAU merger..

Rock

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Re: Economy of your lives - WARNING! get your money out of the bank now
« Reply #158 on: March 20, 2008, 09:27:45 pm »
Do not keep money in the bank unless it is to pay some basic bills.  Use your money to buy tangible goods that will be worth something.

Can goods can be used anytime.  Toilet paper, aspirin, water, candles, clothing, shoes shoes shoes!

Fiat money has a little value now - so spend it,



Rock

Offline ELIJAH STAPP

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Economists: Bank Losses to Exceed $1 Trillion
« Reply #159 on: March 20, 2008, 09:44:46 pm »
Economists: Bank Losses to Exceed $1 Trillion

Economists are now worried that the escalating losses in the U.S. financial sector may soon exceed $1 trillion — double the level of losses from the savings and loan calamity of the mid-1980s.

Layoffs on Wall Street are surging. Broker-dealer Lehman Brothers last week disclosed yet another round of firings, accounting for 5 percent of its work force. Earlier, Bear Stearns, Morgan Stanley and Merrill Lynch also furloughed financiers.

The crisis has gone global. Societe Generale’s London traders who sell bank debt are reported to have few to no customers, and not much to do.

Then came this weekend’s news that JPMorgan Chase, with help from the U.S. government, was buying up the remains of tattered rival Bear Stearns. The once-formidable bank lost nearly all of its equity value in just over a month.
The Fed-assisted fire sale of Bear Stearns over the weekend is probably not the last effort to stop a cascade of financial losses due to the collapse of the market for mortgage-backed securities,” says William Niskanen, a White House economic advisor for former President Reagan, now chairman of the libertarian think tank The Cato Institute in Washington, D.C.

"Although I have been critical of such bailouts in the past, this one was probably appropriate,” he said.

To put this all in perspective, the total losses if realized would be equal to 7 percent of the total annual economic output of the U.S. economy.

Editor’s Note: The Recession’s Silver Lining. Why some investors are smiling. 

But the psychological impact is far, far greater, and signs of melancholy are everywhere in finance. Just last week, banks’ cost of borrowing reached the highest level this year.

Specialized markets that enable financial institutions to securitize mortgage loans are frozen solid.

Government-funded bailouts of once-venerable Wall Street firms are not the final solution to the financial problem, however.

"With the subprime mortgage crisis still spinning out of control, there are numerous factors within the real estate industry that need to be addressed to prevent further downslide,” says Thomas Inserra, former national chief appraiser of the FDIC and now CEO of a real estate technology firm Zaio.

"This especially includes more effort to prevent mortgage fraud,” he said.

Reform will address the "remaining structural issues” that are hobbling the financial industry, bank analyst Buddy Howard of Equity Research Services tells MoneyNews.

Chief among those changes will be a return to banks taking responsibility for the loans they write.

"Mortgage brokers have very little incentive to evaluate the risk of mortgages they make because they sell most of them in the form of mortgage-backed securities,” says Niskanen. New federal lending rules could restrain the practice.

Meanwhile, however, the Federal Reserve Bank’s easing of interest rates — which have generated so much publicity in the financial media — will have only a slight effect on the industry.

"This crisis is not something that can be unilaterally fixed through monetary policy,” says Howard.