Topic: Our Fed fed Elites (Read 2571 times)

Quote from: QuantumQrack on July 25, 2011, 12:58:14 PM

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

All I know is that it would be more than enough to pay off the US national debt Roll Eyes

It is mathematically impossible to pay off the national debt. :-(

not if you let the banks go!

Actually, he is right, I dont know if for the right reasons or not.

To get rid of the government debt you need to change the monetary system first. Otherwise, by eliminating the government debt you would eliminate (almost) all the currency.

If I am not mistaken, the last and only president to pay all the government debt in the USA was Andrew Jackson and he did it by removing the central bank and then having restrictive fiscal policies to return the debt.

cypherdoc

legendary

Activity: 1764

Merit: 1002

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

All I know is that it would be more than enough to pay off the US national debt Roll Eyes

It is mathematically impossible to pay off the national debt. :-(

not if you let the banks go!

QuantumQrack

sr. member

Activity: 337

Merit: 250

Quote from: Littleshop on July 22, 2011, 10:01:12 PM

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

All I know is that it would be more than enough to pay off the US national debt Roll Eyes

It is mathematically impossible to pay off the national debt. :-(

Melbustus

legendary

Activity: 1722

Merit: 1004

Quote from: The_JMiner on July 22, 2011, 07:00:30 PM

http://www.wtfnoway.com/

Here you go, a visualization of trillions of dollars in 100$ bills.

+1

Wow. Go there.

Huh... $100M is surprisingly physically tiny.

hugolp

legendary

Activity: 1148

Merit: 1001

Radix-The Decentralized Finance Protocol

Quote from: The_JMiner on July 22, 2011, 07:00:30 PM

The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding.

the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning.

the most loaned at any time was a bit more than 1 trillion.

furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding.

This is dishonest, since the Fed end up buying the mortgage shit from the banks with QE1.

Littleshop

legendary

Activity: 1386

Merit: 1004

http://www.wtfnoway.com/

Here you go, a visualization of trillions of dollars in 100$ bills.

+1

Wow. Go there.

ctoon6

sr. member

Activity: 350

Merit: 251

Quote from: The_JMiner on July 22, 2011, 07:00:30 PM

http://www.wtfnoway.com/

Here you go, a visualization of trillions of dollars in 100$ bills.

i like

The_JMiner

member

Activity: 70

Merit: 10

http://www.wtfnoway.com/

Here you go, a visualization of trillions of dollars in 100$ bills.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: Rassah on July 22, 2011, 04:59:11 PM

Quote from: cypherdoc on July 22, 2011, 02:34:57 PM

Quote from: cypherdoc on July 22, 2011, 02:34:57 PM

The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding.

the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning.

the most loaned at any time was a bit more than 1 trillion.

furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding.

thats BS. explain this:

http://www.research.stlouisfed.org/fred2/graph/?chart_type=line&s[1][id]=EXCRESNS&s[1][range]=5yrs

these are "banks" excess reserves gotten from the bailout money which has NOT been paid back.

Where does it say that this money is money borrowed from the government, and not owned the banks themselves, which the banks are keeping in excess of their own required reserves, simply because the Fed apparently pays them interest for that now? http://en.wikipedia.org/wiki/Excess_reserves

i don't quite understand your English but these excess reserves plus required reserves make up the monetary base as defined in the Wiki link you provided. the Fred graph i provided to you says the excess reserves total 16T which is about the amount the Sanders article was talking about and represents money printed by the Fed and given to the banks in exchange for subrprime loans, CDS, commercial loans, and other assorted toxic crap.

if you look at that Fed balance sheet if these were "loans" as you claim they would be categorized as "Repurchase Agreements". note that they aren't and the balance is zero. i believe this toxic crap in buried in the "Securities Held Outright" and in categories like Maiden Lane, TALF, Aurora, ALICO holdings.

oOoOo

full member

Activity: 238

Merit: 100

If that "loan" was in bitcoins, to lend out $16tr, each coin would have a value of $2,326,376.0151 USD. (as of July 23th 2011; with a supply of 6.877.650 coins)

.

Rassah

legendary

Activity: 1680

Merit: 1035

The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding.

the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning.

the most loaned at any time was a bit more than 1 trillion.

furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding.

thats BS. explain this:

http://www.research.stlouisfed.org/fred2/graph/?chart_type=line&s[1][id]=EXCRESNS&s[1][range]=5yrs

these are "banks" excess reserves gotten from the bailout money which has NOT been paid back.

Where does it say that this money is money borrowed from the government, and not owned the banks themselves, which the banks are keeping in excess of their own required reserves, simply because the Fed apparently pays them interest for that now? http://en.wikipedia.org/wiki/Excess_reserves

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: Rassah on July 22, 2011, 01:43:41 PM

The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding.

the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning.

the most loaned at any time was a bit more than 1 trillion.

furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding.

thats BS. explain this:

http://www.research.stlouisfed.org/fred2/graph/?chart_type=line&s[1][id]=EXCRESNS&s[1][range]=5yrs

these are "banks" excess reserves gotten from the bailout money which has NOT been paid back.

TiagoTiago

hero member

Activity: 616

Merit: 500

Firstbits.com/1fg4i :)

Wait, so the money is gone or are they gonna get it back with interests?

compro01

hero member

Activity: 590

Merit: 500

The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding.

the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning.

the most loaned at any time was a bit more than 1 trillion.

furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Also, do note they are "loans" not "grants." It's a bailout, but it's not a giveaway, and as we already know, has actually ended up being somewhat profitable for the government (repaid interest)

http://www.federalreserve.gov/releases/h41/current/h41.htm#h41tab9

it is a giveaway initially disguised as a loan. instead we've bought them outright.

that column called "Repurchase agreements" says zero. this is where "loans" would've gone.

Rassah

legendary

Activity: 1680

Merit: 1035

Quote from: spruce on July 22, 2011, 12:09:09 PM

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

To give you an idea of how much $16 trillion is... imagine every man, woman, and child in the US having $53,000 in their bank account, then put all those bank accounts together.

Or imagine every single Chinese person being owed about $12,300

Or imagine everyone in US having to pay $562 a month for ten years straight to pay off that loan at 5% interest.

It's A LOT, but not A LOT when compared to the scale of a whole country.

Also, do note they are "loans" not "grants." It's a bailout, but it's not a giveaway, and as we already know, has actually ended up being somewhat profitable for the government (repaid interest)

Question, though.

Quote

"No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

Also, this part doesn't really make much sense...

Quote

Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."

...since working families don't have the credit rating or substantial assets to qualify for such high volume, low interest loans Undecided

I thought the fed was an independent entity, not a federal agency?

foggyb

legendary

Activity: 1736

Merit: 1006

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

Imagine a sugar cube, one cm on a side. It comes in a cubic box 10cm on a side, 1000 in a box.

Stack the boxes up in a cube, 10x10x10, or 100cm (1 meter) on a side, and you've got a million sugar cubes.

A cube 10 meters on a side and you've got a billion sugar cubes.

A cube 100 meters on a side and you've got a trillion sugar cubes.

A block 400 meters on a side and 100 meters high and you've got 16 trillion.

I believe you have just cornered the sugar market.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

All I know is that it would be more than enough to pay of the US national debt Roll Eyes

cypherdoc

legendary

Activity: 1764

Merit: 1002

$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.

All I know is that it would be more than enough to pay of the US national debt Roll Eyes

the figure i remember offhand is that 12T would've paid off every mortgage in America.

Ellen Brown in a recent podcast said that 12T also was enough to pay off all state debt in America.

just imagine if all that dead weight was allowed to be purged from the system. no doubt it would have been bad but we'd be coming out of it right about now in a full fledged recovery.

nostrum

member

Activity: 65

Merit: 10