Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts - page 3.

a447513372

sr. member

Activity: 336

Merit: 250

DLISK - Next Generation Coin

Quote from: ?? on ??

National debt is a good thing because it means that other countries are happy to loan to the United States, and they are confident that they will get their investment back and more. Confidence is the driver of economies in a virtuous cycle, so as long as other countries keep loaning money to the United States, the US economy will be healthy. The day the US stops borrowing money is the day that the economy crashes worse than ever before.

That's some broken logic there.

Our ability to borrow is what makes other countries confident. The actual borrowing reduces our ability to borrow, so the more debt the U.S. has the less confident other countries are. Less borrowing is better. The day that the US is unable to borrow is the day the dollar collapses.

This is true. Additionally the more we borrow, the more we have to tax our citizens, which depresses our economy.

xavier

sr. member

Activity: 260

Merit: 250

Quote from: ?? on ??

In fact, national debt is a very very good thing. All of those debts that add up to 17 trillion dollars have hard-set timetables for completion, no, China cannot "call it in" and ask for all of their money back.

National debt is a good thing because it means that other countries are happy to loan to the United States, and they are confident that they will get their investment back and more. Confidence is the driver of economies in a virtuous cycle, so as long as other countries keep loaning money to the United States, the US economy will be healthy. The day the US stops borrowing money is the day that the economy crashes worse than ever before.

Oh dear. This comment is symbolic of something, but I'm not sure what. A sign of the times I guess.

visdude

legendary

Activity: 1081

Merit: 1001

http://www.youtube.com/watch?v=lu_VqX6J93k

a447513372

sr. member

Activity: 336

Merit: 250

DLISK - Next Generation Coin

Quote from: yuriygeorge on October 02, 2014, 10:11:14 PM

I don't know if you've been following the news, but the House of Representatives (US) has just voted in favor 333-92 for the Federal Reserve Transparency Act, aka Audit The Fed. I created a Government petition:
http://wh.gov/iiFlu

Please, if we can get 100k signatures, then we may be able to get the white house to force a vote in the senate! Please share

The white house has zero control over what the senate votes on. This is determined by senate leadership which happens to include Harry Reid, who will not bring any bills that do not fit liberal policy to vote

yuriygeorge

sr. member

Activity: 262

Merit: 250

I hate my family

I don't know if you've been following the news, but the House of Representatives (US) has just voted in favor 333-92 for the Federal Reserve Transparency Act, aka Audit The Fed. I created a Government petition:
http://wh.gov/iiFlu

Please, if we can get 100k signatures, then we may be able to get the white house to force a vote in the senate! Please share

robhimself

full member

Activity: 154

Merit: 100

Calling out scams, one HYIP at a time...

You guys do realize this article is from 2 years ago, right?

Mobius

hero member

Activity: 988

Merit: 1000

It was really no secret that the Fed spent trillions on bailouts. I think the $16 trillion figure is somewhat inflated though. It is also important to note that all the money used to bail banks out has been paid back with interest (except the money lent to the automakers - it was really given to the UAW).

po1992one

full member

Activity: 133

Merit: 100

I wouldnt call it shocking though. This is why we have Bitcoin where everything is clear and public

cp1

hero member

Activity: 616

Merit: 500

Stop using branwallets

Is there a website that doesn't have any pictures of Guy Fawkes on it that could truthfully summarize the findings and state them for regular people to read?

leopard2

legendary

Activity: 1372

Merit: 1014

Quote from: Weed Stuff on August 07, 2014, 03:56:50 PM

interested . this will be bigger . its btc will touch 5k next year .
i believe it will happened .

either that or the financial system will be reset via a large war. US and R-USsia are working on it, Ukraine might be just a stage for a play, a show. Embarrassed

counter

hero member

Activity: 798

Merit: 500

Time is on our side, yes it is!

This is the kind of news that makes me bullish on Bitcoin. It's news like this that should be discussed at length by the average person. Nothing will change if people don't have a clue where the problems started or who plays the major roll in causing the problems.

Luckylui

full member

Activity: 154

Merit: 100

STILL MISSING MY 12 BTC FROM SCAMOOLAHPAL! >:O

Under the table dealing. Got to love the GOV.

Weed Stuff

newbie

Activity: 12

Merit: 0

interested . this will be bigger . its btc will touch 5k next year .
i believe it will happened .

efreeti

full member

Activity: 350

Merit: 104

Need an accountant or an auditor to explain what all these numbers mean.

Throwing a big number around doesn't mean anything without proper context.

odolvlobo

legendary

Activity: 4438

Merit: 3387

Quote from: knight22 on August 07, 2014, 02:51:42 PM

So where this total comes from exactly?

Quote from: knight22 on August 07, 2014, 02:11:49 PM

How is that a fabrication? It is written black on white at page 131.

knight22

legendary

Activity: 1372

Merit: 1000

--------------->¿?

So where this total comes from exactly?

odolvlobo

legendary

Activity: 4438

Merit: 3387

Quote from: knight22 on August 07, 2014, 02:11:49 PM

Quote from: odolvlobo on August 07, 2014, 12:16:22 PM

Apparently the $16 trillion number is a fabrication.

Here is the report: http://www.sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf

How is that a fabrication? It is written black on white at page 131.

Sorry, "fabrication" was a very poor choice of words. "Misleading" or "out-of-context" are better descriptions. Here is an explanation of why the $16 trillion amount needs to be considered in context.

Quote

Table 8 aggregates total dollar transaction amounts by adding the total dollar amount of all loans but does not adjust these amounts to reflect differences across programs in the term over which loans were outstanding. For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, borrowed only $10 billion over 30 days. In contrast, a TAF loan of $10 billion extended over a 1-month period would appear as $10 billion.

In other words, the Fed didn't loan anyone $16 trillion.

RoadTrain

legendary

Activity: 1386

Merit: 1009

Another FUD.
Right on the page 130

Quote

For example, an overnight PDCF loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution

That's just a sum of transaction amounts, not that it says much.

botany

legendary

Activity: 1582

Merit: 1064

We will have to wait and see whether any action is taken on this.
At least, it has become public now.

knight22

legendary

Activity: 1372

Merit: 1000

--------------->¿?

Quote from: SunBin on August 07, 2014, 12:24:41 PM

How accurate is the news and figure on the report?

The link doesn't look like a reliable source.

The link provided the source of the audit http://www.sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf

Topic: Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts - page 3. (Read 4739 times)