Posted on 03/09/2014 4:46:47 PM PDT by Kartographer
It’s no secret that the U.S. government is in serious fiscal trouble. So much so that our Treasury Secretary recently noted that should the debt ceiling fail to be increased, the fall-out would be “catastrophic” and last for generations.
Given that sobering report, consider that everything in America, from food to fuel, is subsidized in one way or another. Those subsidies are being paid with ever-increasing debt. It is inevitable that at some point the world’s reserve currency, the US dollar, will be wiped out. The trigger for such an event is irrelevant. What is relevant, is how average Americans will be affected when that day comes.
(Excerpt) Read more at shtfplan.com ...
I hope I helped you and that is a good feeling for me.
(((
You most definitely did. Many blessings to you.
Welcome to Sarajevo 2012: Poignant pictures show transformation of war-torn city 15 years on from brutal siege
I heard it on a radio broadcast from a financial analyst, I think the guy from one of the financial networks, who was talking about the real assets of the Fed, the US, and etc. He mentioned it as an aside.
If the Fed really has been coming out of their pocket in QE and QE2 at 85 billion a quarter, it does not take long to run 4 Trillion to zero. Makes more sense if they had 14 T anyway.
http://en.wikipedia.org/wiki/Quantitative_easing
Sounds like he made it up.
If the Fed really has been coming out of their pocket in QE and QE2 at 85 billion a quarter,
At the peak, QE was $85 billion a month.
it does not take long to run 4 Trillion to zero.
QE is increasing their assets, not reducing them.
Thank-you Marcella, so I will stock them. My husband has this scientific name for me that means” she who is afraid of running out of toilet paper. “
I suppose you think you can just print money.
Do yo know how the Fed works?
They print money (reserve NOTE), from which they loan to the national banks, at the rediscount rate (close if not zero recently), after 1 year, 2 years or 3, the national bank returns the dollar, plus the rediscount rate. State and other banks borrow from the national banks. Thrifts do not on the whole participate in this system, they generate thier money to loan from deposits.
The treasure department is supposed to do the printing.
After this scheme runs for awhile, the Fed ends up owning a large portion of the economy, depending on how fast money turns.
I don’t care which pocket the accountant puts the assists in (if you took accounting you know the rules for which side of the ledger you use are sometimes arbitrary).
At any rate, despite the smoke and mirrors, the Fed ends up with a larger and larger portion of the GDP.
No, I don’t believe the Fed’s docmentation.
85 Billion x 36 months = 3 Trillion.
Yes, the Fed can create money out of thin air.
They print money (reserve NOTE), from which they loan to the national banks, at the rediscount rate (close if not zero recently), after 1 year, 2 years or 3, the national bank returns the dollar, plus the rediscount rate.
If a bank wants notes, they have to buy them.
After this scheme runs for awhile, the Fed ends up owning a large portion of the economy, depending on how fast money turns.
Before the crisis, their balance sheet was about $800 billion.
I don’t care which pocket the accountant puts the assists in (if you took accounting you know the rules for which side of the ledger you use are sometimes arbitrary).
Asset....liability....arbitrary? LOL!
85 Billion x 36 months = 3 Trillion.
Which is much less than the $14 trillion number you first mentioned.
bkmk
did you ever take an accounting course?
It’s obvious you didn’t because double entry bookkeeping (asset / liabilities) is simply a rule book for keeping account.
You can do anything you want with it, especially if you are a semi-government organization exempt from auditing, and you are not afraid of a visit to the cross bar hotel
Of course. That's why this....
(if you took accounting you know the rules for which side of the ledger you use are sometimes arbitrary).
Is so damn funny.
It’s obvious you didn’t because double entry bookkeeping (asset / liabilities) is simply a rule book for keeping account.
If you know how it works, why the stupid comment?
You can do anything you want with it,
There you go again.
especially if you are a semi-government organization exempt from auditing,
Yeah, right.
I'm glad you're off the silly $14 trillion claim.
Do you work for the Fed?
Does everyone who mocks your “accounting” work for the Fed?
google 16 Trillion Federal reserve secret then get back to me
and you are implying that there is no possibility that the books could be fixed?
And answer the question “Do you know or have you ever worked for the Fed?”
Notice how you deflect the question and attack the questioner.
You are really, really good at changing the subject.
That won’t make your baloney true.
Now what kind of accounting class did you take where you learned, "(if you took accounting you know the rules for which side of the ledger you use are sometimes arbitrary)"?
What I mean by arbitrary is not that the category changes from asset to liability, but that which category it falls into does not in many cases, make sense.
Also, as most people know, just because the books balance in a double entry system does not mean the books are correct, the easiest way to cook them is recognizing income/assets/liabilities in the wrong manner.
If the Fed and the Government were audited and held to what a standard commercial entity was, then the Fed and the Politicians would all be in jail. For example the IOU in the Social Security “lock box” which is recognized in “accounting” as holding weight (i.e. it’s an offseting entry, but worthless).
And you seem to assume (in the face of history) that these folks are truth tellers. I take their balance sheet as a fabrication.
Great, which category in post #78 is arbitrary or proves your $14 trillion claim?
the easiest way to cook them is recognizing income/assets/liabilities in the wrong manner.
And that makes your $14 trillion claim correct?
If the Fed and the Government were audited
The Fed is audited, every year.
And you seem to assume (in the face of history) that these folks are truth tellers. I take their balance sheet as a fabrication.
So far, their batting average is higher than yours.
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