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World Finance Watch
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<blockquote data-quote="BubbuClinton" data-source="post: 24542" data-attributes="member: 395"><p><strong>Re: World Finance Watch</strong></p><p></p><p>Cary,</p><p></p><p>You can correct and amend me anytime. I just winged that post of the top of my head in a fit of hating the FED <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite38" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" />.</p><p></p><p>I understand your technical point about Congress authorizing a budget and selling bonds on the open market. My point, although, unclear, is that most of the bonds are bought by the FED and a few nations who do not have our national interests in mind like China. This is how the FED inserts new money into the system. Congress decides to spend, they don't have the budget for it, they place a bond, the FED purchases the bond and authorizes the treasury to print some more worthless paper or they simply push a button on a computer and presto chango, new money. Congress can make new money by Fiat and they don't need the FED to do it. The FEDs papers is too expensive for no reason. </p><p></p><p>I wish I could only have the expenses they have that you listed and collect usurious intrest rates. That would be cool.</p><p></p><p>Thanks for the Links. I do have an interest in this stuff and always like information.</p><p></p><p>As far as the housing bubble, the bubble was created as a reaction to the Clinton deficit and 911. These two events caused the FED with the Blessing of the "Administration" to lower interest rates to record lows on real estate lending. By increasing the amount of property ownership, they increased taxes and created a more dependant populace. However, with the oil issue pushing inflation up, variable loans are becoming more expensive and causing a lot pain in areas with lower employment and lower wages compared to property value, and things are starting to crack. One of the side effects of more property ownership is that property becomes more expensive. But once you have the asset of a home, you now can qualify for more credit card loans, car loans and equity loans. All of these make more money for ..... thats right.... The FED. </p><p></p><p>I am not against property ownership and I am glad I own property. However, if unemployment spikes it will cause those on the finiancial edge to file for the bankruptcies and thus foreclosures. And the last I looked, about everybody is on the financial edge.I feeI uncomfortable with a foriegn private corporations having the right to forclose on my property and on all of the property in the United States. I would feel more comfortable with Congress holding this power. At least, theoretically, I have a right to vote for those guys. And, theorectically, they have the best interest of the country in mind. Right now, we are ripe for a major financial crisis. All the FED would have to do is raise the prime lending rate to 10% and Half of the Country will be foreclosed on. I don't see this happening unless a non-Yale grad. gets elected president or something. And who ever has heard of that happening in the last 20 years or so. Conversely, if the FED drops rates, then foreclosures will go down. I don't think they want to pop the bubble just yet because they have too much going on with the Land and Oil Grab in the middle east. The are forcing the US through the Oil Gouging which will cause inflation of prices by its self. It will kill Detroit and SUVs. Thus Michigan is starting to feel the pinch. But they will keep rates down to stop run away inflation. People will begin to foreclose because of cost of goods going up not intrest rates. They will have to drop rates so people can get loans to buy goods like food. The Raise in oil will also deflate the bubble because those on the lower income end will be forced out of the market.</p><p></p><p>Utah's bubble burst 4 years ago when the technology sector died. However areas, like LA, SF, Las Vegas, Phoenix, and other areas with accelerated growth are in trouble.</p><p></p><p>The issue on the income tax was actually debated in 1909 or so. While I agree that it wasn't directly related to creation of the FED, it was required before it could be created by those in power. Those guys were smart and evil and Pres. Wilson was a weak Teat. I sure wish we had someone with the guts to do what is right for the country and not just the puppets that are in office now.</p><p></p><p>Thanks again for the corrections and the insights.</p><p></p><p>Bubbu</p><p>________________________________</p></blockquote><p></p>
[QUOTE="BubbuClinton, post: 24542, member: 395"] [b]Re: World Finance Watch[/b] Cary, You can correct and amend me anytime. I just winged that post of the top of my head in a fit of hating the FED :). I understand your technical point about Congress authorizing a budget and selling bonds on the open market. My point, although, unclear, is that most of the bonds are bought by the FED and a few nations who do not have our national interests in mind like China. This is how the FED inserts new money into the system. Congress decides to spend, they don't have the budget for it, they place a bond, the FED purchases the bond and authorizes the treasury to print some more worthless paper or they simply push a button on a computer and presto chango, new money. Congress can make new money by Fiat and they don't need the FED to do it. The FEDs papers is too expensive for no reason. I wish I could only have the expenses they have that you listed and collect usurious intrest rates. That would be cool. Thanks for the Links. I do have an interest in this stuff and always like information. As far as the housing bubble, the bubble was created as a reaction to the Clinton deficit and 911. These two events caused the FED with the Blessing of the "Administration" to lower interest rates to record lows on real estate lending. By increasing the amount of property ownership, they increased taxes and created a more dependant populace. However, with the oil issue pushing inflation up, variable loans are becoming more expensive and causing a lot pain in areas with lower employment and lower wages compared to property value, and things are starting to crack. One of the side effects of more property ownership is that property becomes more expensive. But once you have the asset of a home, you now can qualify for more credit card loans, car loans and equity loans. All of these make more money for ..... thats right.... The FED. I am not against property ownership and I am glad I own property. However, if unemployment spikes it will cause those on the finiancial edge to file for the bankruptcies and thus foreclosures. And the last I looked, about everybody is on the financial edge.I feeI uncomfortable with a foriegn private corporations having the right to forclose on my property and on all of the property in the United States. I would feel more comfortable with Congress holding this power. At least, theoretically, I have a right to vote for those guys. And, theorectically, they have the best interest of the country in mind. Right now, we are ripe for a major financial crisis. All the FED would have to do is raise the prime lending rate to 10% and Half of the Country will be foreclosed on. I don't see this happening unless a non-Yale grad. gets elected president or something. And who ever has heard of that happening in the last 20 years or so. Conversely, if the FED drops rates, then foreclosures will go down. I don't think they want to pop the bubble just yet because they have too much going on with the Land and Oil Grab in the middle east. The are forcing the US through the Oil Gouging which will cause inflation of prices by its self. It will kill Detroit and SUVs. Thus Michigan is starting to feel the pinch. But they will keep rates down to stop run away inflation. People will begin to foreclose because of cost of goods going up not intrest rates. They will have to drop rates so people can get loans to buy goods like food. The Raise in oil will also deflate the bubble because those on the lower income end will be forced out of the market. Utah's bubble burst 4 years ago when the technology sector died. However areas, like LA, SF, Las Vegas, Phoenix, and other areas with accelerated growth are in trouble. The issue on the income tax was actually debated in 1909 or so. While I agree that it wasn't directly related to creation of the FED, it was required before it could be created by those in power. Those guys were smart and evil and Pres. Wilson was a weak Teat. I sure wish we had someone with the guts to do what is right for the country and not just the puppets that are in office now. Thanks again for the corrections and the insights. Bubbu ________________________________ [/QUOTE]
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