Tuesday, March 31, 2009

Obama = Bush

Unconstitutional Acts Against the People

Military to Raise Debt

Treasury Instead of Congress

Bank Owned and Operated
Posted by fdralloveragain at 9:38 AM

7 comments:

  1. AnonymousMarch 31, 2009 at 10:32 AM

    To quote an ex-marketwatch regular "they are one and the same".

    ReplyDelete
  2. AnonymousMarch 31, 2009 at 11:36 AM

    Bank owned and operated
    twist two

    Have a friend that has to give his house back to the bank because of divorce. Wells Fargo still has not given notice to get out now.
    I think it is to banks advantage to have him there paying gas and power and mowing etc. plus , i could be wrong, until they serve that final notice, the city has to pay the property taxes, [3500.00 year]

    posting this because of Shiller house value drop reported today. The banks can stick it to the local goverments

    ReplyDelete
  3. AnonymousMarch 31, 2009 at 1:43 PM

    Couldn't agree more.

    Presidents, for a while in the US now, are more figurehead than not.

    ReplyDelete
  4. AnonymousMarch 31, 2009 at 2:13 PM

    fdr,
    IBOC is a bank in my community that is supposedly very strong. However, the bank's stock has been hit big time over the last months. I personally own IBOC stock, so I just wanted to ask you what you think of this viedo of Cramer interviiewing the bank's CEO Dennis Nixon.

    He says everything looks fine....I have read you say that when CEO's say that, we must think the opposite.

    http://www.cnbc.com/id/15840232?video=1078211751&play=1

    ReplyDelete
  5. AnonymousMarch 31, 2009 at 3:47 PM

    The effects of inflation / deflation are largely dependent on perceptions. For example, when Bernie Madoff stole billions, the money supply effectively doubled by those billions. By that I mean Bernie did something with that money (bought stuff, moved it offshore, invested it for himself), but his investors were operating like they still had the money (i.e. buying stuff). When the fraud was exposed, the money supply dropped back down. Those investors would have acted differently (i.e not bought stuff) had they known the money was gone. Get it?

    OK, now take that example and apply it to the broader economy. Two parties are on opposite sides of a transaction (e.g. mortgages, derivatives, commercial bond, money market fund, etc.). The holder is operating like he has something of value, yet really has lost his shirt and doesn't know it yet. As the defaults become apparent, the money supply, as measured by perception of wealth, gets destroyed. Think about what will happen when money market funds start breaking the buck en masse.

    Since we have a debt based monetary system it will be impossible to borrow enough money to bail all the losers out because there is not enough money to pay the interest. In other words, returning to early 2007's perceived money supply requires huge amounts of interest, which the economy cannot support. Those who receive bailouts will be whole (in fact, ahead after deflation), and everyone else will be broke AND saddled with never ending debt.

    ReplyDelete
  6. AnonymousMarch 31, 2009 at 7:05 PM

    "Since we have a debt based monetary system it will be impossible to borrow enough money to bail all the losers out because there is not enough money to pay the interest"

    As long as you have good credit, you can still borrow. Try shopping for a mortgage.

    ReplyDelete
  7. AnonymousApril 1, 2009 at 1:09 AM

    "Bank owned and operated
    twist two

    Have a friend that has to give his house back to the bank because of divorce. Wells Fargo still has not given notice to get out now.
    I think it is to banks advantage to have him there paying gas and power and mowing etc. plus , i could be wrong, until they serve that final notice, the city has to pay the property taxes, [3500.00 year]

    posting this because of Shiller house value drop reported today. The banks can stick it to the local goverments"

    Maybe FDR can enlighten us on this one. Didn't defaulting mortgagees get to stay in their houses during the Great Depression as one element of the government's solution (If you could call it that)?

    ReplyDelete

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