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-   -   The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout (http://www.mmaforum.com/lounge/97444-federal-reserves-breathtaking-7-7-trillion-bank-bailout.html)

Soakked 11-30-2011 11:49 AM

The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout
 
http://theweek.com/article/index/221...n-bank-bailout

WTF is going on in this country? That's half of our GDP.

To put that in context if divided amongst the US population each and everyone one of us would have gotten just about 25,000 each. Where the heck did that money go?

End the FED (Fuking Everyone Daily)

box 11-30-2011 01:11 PM

Can't do much about it. It'll just blow over like the rest of the scandles. Some people got rich as hell off it though, congrats to those slimeballs.

sickcat 11-30-2011 06:12 PM

I think it should be made clear that the Federal Reserve is NOT federal and it has NO reserves.

It is owned by its member banks, witch are all the big ones. The only connection to the federal government is that the president appoints the chairman and some of the governors.

So in truth, the article should read "Banks print 7.7 trillion dollars because they felt like it".

we're so screwed...:sad02:

Soakked 11-30-2011 06:55 PM

Quote:

Originally Posted by sickcat (Post 1509853)
I think it should be made clear that the Federal Reserve is NOT federal and it has NO reserves.

It is owned by its member banks, witch are all the big ones. The only connection to the federal government is that the president appoints the chairman and some of the governors.

So in truth, the article should read "Banks print 7.7 trillion dollars because they felt like it".

we're so screwed...:sad02:

Yep should read "Big bank bails out smaller banks using taxer money while adding to their share of debt, you're welcome".

Voiceless 11-30-2011 07:20 PM

Weird, it's hard to find any coverage in European news on that issue.

Rygu 12-01-2011 04:48 AM

And people wonder why Woodrow Wilson's picture is on the $10,000 bill. He gave away their currency back in the 1910's and regretted it before he died.

The Federal Reserve Act - The day America no longer controlled their currency.

Soakked 12-01-2011 09:50 AM

The control of interest rates and flow of currency should not be "regulated" by a private institution without governmental oversight. When dealing with compound interest rates, fractional-reserve-banking and our form of currency (fiat) we are surely slaves to international bankers that hold no concept of sovereignty.

Scarecrow 12-01-2011 01:19 PM

Quote:

Originally Posted by Soakked (Post 1509792)
http://theweek.com/article/index/221...n-bank-bailout

WTF is going on in this country? That's half of our GDP.

To put that in context if divided amongst the US population each and everyone one of us would have gotten just about 25,000 each. Where the heck did that money go?

End the FED (Fuking Everyone Daily)

Actually that is twice what our GDP is...you're thinking of the national debt which just reached 15 trillion, 5 trillion of which being accrued during the last 3 years alone.

HexRei 12-01-2011 01:25 PM

Quote:

Originally Posted by box (Post 1509810)
Can't do much about it. It'll just blow over like the rest of the scandles. Some people got rich as hell off it though, congrats to those slimeballs.

I'm not really enthused about waiting for a depression era-level economy to blow over while the people responsible lol all the way to the foreign bank. are you?

Soakked 12-01-2011 03:49 PM

Quote:

Originally Posted by Scarecrow (Post 1510115)
Actually that is twice what our GDP is...you're thinking of the national debt which just reached 15 trillion, 5 trillion of which being accrued during the last 3 years alone.

Are you sure about that? After you stated that I questioned myself (thinking I got the number mixed up...it's been a while) but found this on Wiki. Not sure if it's it's true (it's wiki after all).

http://en.wikipedia.org/wiki/List_of...y_GDP_(nominal)
http://en.wikipedia.org/wiki/List_of...es_by_GDP_(PPP)
http://en.wikipedia.org/wiki/Economy..._United_States

Quote:

The economy of the United States is the world's largest national economy. Its nominal GDP was estimated to be nearly $14.5 trillion in 2010
Either way, you if you are right that's even worse LMAO. The costs of both Iraq and Afghan wars has been (presently) about a little over 1 trillion dollars which this dwarfs by SEVEN freaking times. How many roads, how many schools etc.. could have been built? For those that have trouble with numbers 100,000 = 1000 hundred, 1 million = 1000 thousand, 1 billion = 1000 million, 1 trillion = 1000 billion, where the hell did all that money go? To pay off bad "investments" and why do we have to pay for it while we throw vet benefits, elderly benefits, important safety nets (for women and children etc..) out the window? To put just how grossly disgusting that amount is we could technically own the following countries for a year combined (and still have a good chunk left over):

140 Tajikistan
141 Rwanda
142 Kosovo
143 Niger
144 Malawi
145 Guinea
146 Kyrgyzstan
147 Barbados
148 Montenegro
149 Swaziland
150 Suriname
151 Mauritania
152 Togo
153 Fiji
154 Lesotho
155 Guyana
156 Maldives
157 Eritrea
158 Central African Republic
159 Sierra Leone
160 Cape Verde
161 Burundi
162 Bhutan
163 Belize
164 Antigua and Barbuda
165 Saint Lucia
166 Djibouti
167 Gambia,
168 Liberia
169 Seychelles
170 Guinea-Bissau
171 Grenada
172 Solomon Islands
173 Vanuatu
174 Saint Vincent and the Grenadines
175 Saint Kitts and Nevis
176 Timor-Leste
177 Comoros
178 Samoa
179 Dominica
180 Tonga
181 Sao Tome and Principe São Tomé and Príncipe
182 Kiribati 183 Tuvalu


This was given to faceless entities with no improvement in our economy and nothing to show for it. AND no penalization for those responsible for it.

How the hell did we just give away that much money without very little oversight and almost no tracking, yep that's right LITTLE OVERSIGHT AND NO TRACKING. How come no one has gone to jail how come besides minor cosmetic changes has no real measures put in place for future prevention? Why isn't this spoken about by Obama or any of the GOP nominees or congress (both ailes and both parties)? Partisanship is a joke and is used to divid us while they rob us blind. It doesn matter if you are part of the Tea party movement or the OWS movement both are aware that there are serious problems that no one is addressing. Media is a joke and are run by 7 large corporations with vested interests in keeping you unware, divided and distracted. This is robbery plain and simple.

That's not even getting into our national debt and deficit (which is another topic altogether).

I give up.



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