NOW WE KNOW WHAT A COMMUNITY ORGANIZER DOES
I'M VOTING FOR SARAH
Posted on 10/01/2008 12:50:40 AM PDT by politicket
Excerpt...
SEC. 112. COORDINATION WITH FOREIGN AUTHORITIES AND CENTRAL BANKS.
The Secretary shall coordinate, as appropriate, with foreign financial authorities and central banks to work toward the establishment of similar programs by such authorities and central banks. To the extent that such foreign financial authorities or banks hold troubled assets as a result of extending financing to financial institutions that have failed or defaulted on such financing, such troubled assets qualify for purchase under section 101.
(Excerpt) Read more at fedupusa.com ...
Exactly. These are american mortgages and such that are threatening the global economy. If we don’t get them off the market, many countries are going to dump the dollar for the euro because they do not trust the American system.
I don’t have to explain the consequences of the dollar going from being the world’s premier currency to being roughly the equivalent of the peso, do I?
“Correct me if I’m wrong, but by my unofficial count we’ve already dumped $2 trillion on this problem so far.”
I was thinking about the Stimulus checks the other day. How much of that was aimed at trying to fix the liquidity issue?
I’d be very interested to see a timeline from July 2007 of all the things Paulson and Bernanke have done (and the congress as well).
I just don’t have time to put it together since I have to work for a living to put bread on the table.
You can often tell a xenophobe by whether or not they can spell it.
Well, then! If it's the GOOD kind of hype and fear mongering and not the BAD kind of hype and fear mongering, then golly it's very important to heed the warning and act in ways that the author prefers!
There is a bit of a difference between someone posting theories on what a bill COULD mean, vs. a U.S. Congressman with the ear of the nation, and our media standing up on the House Floor and attempting to use that fear-mongering to force their fellow representatives into voting for a bill they know is bad, is there not?
I’m not saying fear-mongering is good... I’m simply saying that warnings to people to look closely at something is different than creating a self-fulfilling prophecy the likes of which Congress and a lot of people here on FR were doing in relation to the bill on Monday.
There is a BIG difference in trying to CREATE PANIC, and putting forth a THEORY.
I suspect Bush, like many others (including politicket?) does indeed suspect that this could unravel into a seized economy.
In fact, I blve politicket was pushing his theory about LIBOR/tbill spreads proved that the Dow Surge yesterday was a mirage.
Either they’re both evil fearmongers, or they’re both trying to see into the future and warn others.
It may be one or the other, but it’s not reasonable to assume that one has evil motives and one is all good.
And the people involved should be dealt with as the law pertains to traitors.
First of all, the provision cited says nothing about sending $700 billion to foreign banks. It’s easy to whip up a frenzy on FR.
Paulson says it will go to foreign banks law says he can do whatever he wants if he consults with bernanke woohooo,
http://www.crooksandliars.com/2008/09/21....
“If a financial institution has business operations in the United States, hires people in the United States, if they are clogged with illiquid assets, they have the same impact on the American people as any other institution,” he said on the ABC program “This Week.”
http://www.freerepublic.com/focus/f-bloggers/2094747/posts
John Adams borrowed money from the dutch, French, and germans along with Ben Franklin and Thomas Jefferson, to fund a revolution against tyranny.
U.S. Munitions factories were funded and partly owned by Spanish, German French concerns for years.
More than half of the populations in South America have Spanish Portugese, German, Italian, and Austrian blodd lines. Companies there are owned in part or whole by Europeans and United States Companies.
This is called Commerce, it has been going on since our forefathers and Indians traded at Plymouth Rock.
Trade is not to be treated as a Political issue only.
After all Where would we all be If the Founders did not cut similar deals in the late 1700’s?
BTT!
You do realise the ‘xenophobia’ and ‘xenophobe’ are two different words, right?
The global markets have been damaged by our securities, and it makes perfect dense to me, to treat it as a global problem as we are so intertwined at the roots.
Indeed, you nailed it. There are solutions to the CDS problem on a global scale but to implement them right now implicates a lot of dirty Politicians, Federal Reserve and Central Bankers. It won’t happen until after the election. That said on the big picure, I will net this out. The USA now has two choices:
1) Take care of the US citizen and invest domestically to restore the economy. Force debt restructuring with soverign nations. Allow HOLC and other US citizen debt restructuring NOT being allowed to happen to occur. Foreign lobby comes into play in this regard also to now allow restructuring. That is stupid and short sighted of course as it only
Forced debt restructuring with soverign nations will cause major geopolitical fallout and right now our government is towing the soverign nations line.
2) The US citizen is forced to continue to pay. This is certainly unwise and unfair considering the fact that the entire economic model (Efficient Market Hyposis) has failed. The rich will avoid or can easily absorb the taxation of inflation that will occur. The poor will have some entitlement spending removed and will prey on the middle class. The middle class will shoulder the larget burden of paying for all the bailouts under the Paulson plan. The tab would be paid through inflation. The middle class is close to bankrupt as it is, so as the middle class struggle to keep up with the cost of living and increasing default on debt, the US government and banking system continue foreclosures and what amounts to taxation without representation by the Federal Reserve (global banking cartel) and confiscation of properties. History tells us the middle class always takes it in the rear in modern economics (1300 AD on, Europe best model to look at). History also tells us one of three things occur. The middle class physically revolt, the middle class has a voter revoltion (has occured three times in our nations history, all 4 years after financial crisis caused by Washington/Bank scandals) or the nation is conquered. I suspect voter revolt.
What should happen? Choice number 1. What is happening, seems like choice 2 is being forced upon us. That is unwise to the extreme because the US government will face off against it’s own citizenship and the foreigners will liquidate there securities and T-B holdings at that point anways. This is the shoddiest US government I have ever seen in my life.
2)
Speaking of “xenophobia” and “xenophobe,” it has been my experience on this forum that people who use those words usually are in favor of amnesty for illegal aliens. So when you jump into a discussion using such a word, it brings back bad memories.
I do not want to see the international economic system collapse, but neither do I want to hurry to pass a bill that would give US taxpayers’ money to foreign companies that could disappear or move offshore. Paulson can be corrupted or be swindled. How do you know we can trust him?
Your correct OPS. However, foreign lobby and vested interests/ownership of securities and T bill assets are forcing the middle class to pick up the entire tab while the US economic model of the last 25 years has now been proven to fail. Guess what? The middle class will give the foreigners and the US government the finger at a point in time as inflation once again begins skyrocketing and middle class on the debt treadmill with no opportunity for debt restructuring or forgiveness. Losses should be spread by percentages to all investment interests foreign and domestic and all US citizens. Right now, this is lopsided as it has been for the last decade. The citizenship has had enough of this and is far more educated then Washington, world banking cartel realizes. That pesky thing called the Internet. Even the poor have computers and access to real-time information these days.
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