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- *****PROJECT GUNRUNNER—THE BIGGEST SCANDAL SINCE IRAN-CONTRA*****
- *****What I have been afraid to blog about: THE ESF AND ITS HISTORY (Part 1-5)*****
- *****FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields*****
- *****Government (not Wall Street) Financial Innovation Caused 2008 Financial Crisis*****
- *****WHY DEFICITS STOPPED MATTERING*****
- *******Gold Manipulation OFFICIALLY CONFIRMED*******
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- *****US Government Trying To Censor The Internet*****
- The article Newsweek gutted–proof of FBI corruption
- *****Why Mainstream Media Wants The Congressional Insider Trading Story To Die*****
- ’60 Minutes’ Blows Lid Off Congressional Insider Trading
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Eric this guy refers to your blog.
Jake Towne a guy running for Congress in Pennsylvania references your US Banks Operating Without Reserve Requirements in one of his articles here:
http://towneforcongress.com/economy/yes-virginia-there-are-no-reserve-requirements-part-22-1
Also check out this article:
http://towneforcongress.com/economy/the-fdic-is-bankrupt
And this audio interview:
Jake Towne with Ken Van Doren FDIC Bankruptcy 19 Aug 2009 PART 1/5
http://www.youtube.com/watch?v=d3LtYCIer3w&feature;=related
People have you started your holiday shopping yet? For the bank holiday that is and the number one item to buy for the holiday is silver. I'm ready for the holiday, are you? Better get shopping before it's to late. You don't want to be one of those stampeeded on the day of the holiday scrambling to find a gift. Get your holiday shopping done early to avoid the traffic and inevitable shortage. :)
@Numonic
I'm ready for the holiday, are you?
Unless you plan on leaving the States you haven't planed a thing, let along meeting your maker.
Muhahahaha!
Anonymous look how overvalued the dollar is.
The dollar is very overvalued. The same amount of metal in a dime on the market today costs just under 2 cents, so the dime is 5 times overvalued or the minting cost of a dime is 5 times more than the metal is worth.
And the cotton/linen Federal Reserve Note is even more overvalued. The Federal Reserve Note is 75% cotton and 25% linen. Cotton on the market is like $58/lbs. A pound is 454 grams. That's 10 cents for .75 grams of cotton on the market, yet the dollar is 75% cotton(it gets even worse when you consider that a $100 bill is only 75% cotton or .75 grams of cotton also. The cotton in a $100 bill is $75 while the same weight of cotton on the market is only 10 cents!). So the cotton in a dollar is 75 cents and the cotton of the same weight on the market is 10 cents. And if you take in to consideration the linen, that shows that the dollar is even more overvalued. I'm not positive on the price of linen but I found one place say that it was 23 cents/pound. First of all the linen in a dollar which is only .25 grams of linen and 25% of a dollar bill costs more than an entire pound(454grams) of linen on the market. That's 23cents/454grams of linen. A dollar only has .25 grams of linen. I tried to do the math on how much .25 grams of linen should cost and the calculator gave me a really low number: 1.2665198237885462555066079295154e-4 . Talk about seignorage! The dollar is way overvalued.
You're probably saying so what it's overvalued, it will stay overvalued. But that's not true. The only reason it is able to maintain it's value is because it has been able to make good on it's promises. Making good on the promises keeps people from asking the question: why doesn't the bank have enough FRNs, or why isn't the govt. printing enough FRNs on time. The minting and printing is what is taking too much time. The demand for the FRNs is moving faster than the minting and printing of them and the govt. can't just give us .25g of linen and .75 of cotton for every electronic dollar in our bank account or the overvalued dollar would be exposed. So they have to mint the FRNs. For it's the minting that gives the dollar it's overvalued status. And if the govt. defaults or fails to print enough FRNs, this too will devalue the dollar because like I said it's the minting of the FRN that gives the dollar it's overvalued status. The physical dollar is just made of cotton and linen. The electronic dollar is just made of electronic digits on a computer. Neither of these have much value and the govt. can't mint electronic digits nor does it produce cotton/linin but it can mint cotton/linen in to a sheet of paper which is where the govt. makes it's money and gives the dollar it's over valued state as the govt. charges so much to make a dollar(which is called seignorage), that gives the dollar so much more value. When the govt. fails at printing/minting enough FRNs to meet demand, the action that was giving the dollar it's over valued state will have ended. If the govt. is not able to print/mint the FRNs in a timely manner people will not accept what they are charging to mint it. It's like the deal Domino's Pizza used to have. If the Pizza was 30 minutes late it was half off or free. This is what will happen to the dollar when the govt. fails to print enough FRNs to meet demand.
Today overvalued, but looking forward it seems one dollar note and the dime are not so bad investments.
Ones hyperinflation takes its wheels, commodities will soar and both dime and one dollar note will gain on value much.
@Numonic
You still have it backwards in that you think that the problem here is tied to printing.
First, a FRN is not a treasury or a bond, which most nation's buy when they buy government debt.
Second, of those treasuries/bonds 90% (or more) of those transactions are done electronically.
Third, when it comes to FRNs and buying goods in dollars - the amount of goods that nations buy in dollars (say for example China buying barrels of oil) makes it impossible to buy those in physical dollars (they would need an oil tanker alone to transport that amount of physical bills to the bank each day!).
So they turn to computers and credit!
And fourth, you need to step out of the 30s, for the printing press is dead.
Trading goods for dollars, and buying government treasuries/bonds electronically has been happening since the late 50s.
Hell, the vast majority of Americans don't even use cash anymore...
LOL, the crisis revolves around printing.. my ass!
Anonymous we've been over this electronic VS printing many times. I'm sure you understand it. You just refuse to accept it.
Stibot I'll get to what you said a little later.
@Numonic
Anonymous we've been over this electronic VS printing many times.
I think it's been time times now (including this one).
I'm sure you understand it.
Yes I understand what you are saying...
You just refuse to accept it.
Right, because it's a false assumption as you stated:
"And if the govt. ...fails to print enough FRNs, this too will devalue the dollar..."
Again the government need not print money like it was the 30s...
All it needs to do is add 0's to the number that sits in a computer.
Thus, to say how "fail[ing] to print enough FRNs" leads to the devalue of the dollar is an argument based on insanity...
For not only do you have the issue ass backwards, but you also fail to understand that the Feds are not dependent on the printing press when all they need to do is add 0's from a keyboard.
Stibot, you'd be better off buying cotton and linen from the market then hoarding FRNs seeing as the cotton and linen in FRNs are very overvalued. You can get more cotton and linen for your buck if you bought it on the market than hoarding FRNs for it's puny 1gram of cotton and linen.
Hoarding the base metal coins maybe a different issue since they are not as over valued. And if you can't afford precious metals I guess hoarding base metals isn't a bad idea.
Anonymous you are wrong, it's the banks that create the electronic money and the Fed that creates the physical money. The banks do not have a shortage of people that can use a keyboard they have a shortage of FRNs. I don't know why you can't get that through your thick skull. Forget it. Just forget it. Believe what you want.
Saying FRNs don't matter is like saying gold didn't matter when we were on the gold standard.
@Numonic
"[I]t's the banks that create the electronic money and the Fed that creates the physical money."
Although it is true that the Feds are the only ones to create physical money you're dead wrong, however, about the assumption that that is the only way they create money.
The Feds also create it electronically.
For example, with all these bank bailouts... do you think they deposited 700 billion (and more) in physical money in the various banks?
If you do I really need the drugs you are taking...
"The banks... have a shortage of FRNs."
This is another wrong assumption.
Again banks were given tax payer money, TARP as well as other smaller bailouts.
Banks were also allowed to write off toxic assets.
And then banks were also allowed to enter a Fed program where the Fed would buy toxic assets.
Numonic, the facts above as well as other facts prove that the banks are not in short supply of money, physical or digital.
So, in light of this, maybe I'm not the one with the thick skull, eh?
And to be clear Numonic, I never stated that "FRNs don't matter".
Again, what color is the sky in your world?
Numonic, we have to keep price of the silver down, so i put such advise for anonymous-present-here to assure him dollar is good investment still, you know what i mean..
In fact i bought another silver. Waiting for the collapse each day. Now looking for a survival kit.
@stibot
Looking buy a survival kit from a site that pushes 2012?
LOL!
Well, to be honest such a kit, no matter who sells it, will probably do more good for you then the sliver that you buy.
Anonymous said...
"For example, with all these bank bailouts... do you think they deposited 700 billion (and more) in physical money in the various banks?
If you do I really need the drugs you are taking..."
Anonymous what proof or logic do you have that the 700 billion dollars was not physical money and was in "fact" electronic money? There is no proof or logic to your reasoning so maybe you're the one on drugs.
"Numonic, the facts above as well as other facts prove that the banks are not in short supply of money, physical or digital."
Everything you said above suggests the banks are in shortage of money. And I don't think it's possible to have a shortage of electronic money. The closest thing to having a shortage of electronic money that I can think of is if you had $30,000 in your bank account one minute and the next minute with out you withdrawing or transferring any of that money from your savings, your savings account read $10,000. And in that case you wouldn't say the bank has a shortage of electronic money and if the bank tried to tell you they had a shortage of electronic money when this happened and you believed them, you would belong in the nut house. Imagine the bank trying to explain to you that it doesn't have enough able people working at the bank to push the numerical keys on the keyboard lol. I mean that's the only possible way for those electronic numbers not to be in your account. The only possible way is if there is no one the bank can find to punch the numbers on a keyboard. Meaning every bank teller and every human being on earth(except people that worked for the Fed of course since they are the one's doing this supposed "electronic" bailout) was struck with rigormortis in there hands and there was no functioning hand on earth or at least a shortage of functioning hands(the people that work for the Fed being the last people on earth with functioning hands). How ridiculous does that sound?
On top of that you contradict yourself. As ridiculous as it sounded, you said the bailouts were electronic money and then you contradicted yourself and said the banks are not short of money(digital or physical). If the banks are not short of money, why would they be getting a "bailout"?
Forget it don't answer that. You'll probably just talk about some conspiracy the banks are doing to get more money and you can scratch that because no one is getting richer, everyone is getting poorer.
I can't believe I'm even trying to explain this.
Anonymous I'm done, you can't be serious. I think you're just playing stupid to see how far I would go to play along. You got me. Good for you, you got me to play along to your stupid act. I actually fell for it. I actually thought you were that stupid. LOL Good Joke.
Well Anonymous, I guess we are just going to have to agree to disagree.
@Numonic
"Anonymous what proof or logic do you have that the 700 billion dollars was not physical money and was in 'fact' electronic money?"
There are things you have to realize about how flawed your argument is:
One, the banks do not need to have physical assets (dollars) to back up their investments. The only thing they need to have physical assets for (and this is only a percentage, ~10%) is the deposits of individuals and corporations make.
Remember this crisis started with the melt down of bank investments (investments such as building properties, not home owners mortgages - this one came after), notably real estate. And the reason this was the case was because the value of said real estate was plunging. If there was no deflation (this also includes jobs, and wages), this crisis would have been nonexistent and things would have gone on as normal.
Two, almost every deposit into a bank is electronic and here are the ways:
A) Direct deposit of a person's pay check is pure electronic, and should be obvious.
B) A person who brings their pay check to the bank is not bringing physical cash to the bank. Thus its a form of electronic currency because they run it though an electronic scanner and (if the check, note not money, is deemed good) then the bank deposits that electronic money into their electronic books.
Among those that bank, individuals or corporations, the vast majority (I don't have the stats, but I would assume more then 90% for individuals and 100% for corporations) involve these types of deposits.
And C) Credit returns, this one should be obvious, in that this is purely done through electronic means.
Three, withdrawals:
A) Given the nature of deposits it would be a safe bet to assume that over 90% (again for individuals and 100% for corporations) of those making withdrawals are doing so by check, debit card, credit or automatic withdrawal.
Numonic, given the nature of how banking is done in our society, and given the fact that banks are only required to have ~10% of their deposits in physical form at the bank - it's easy to understand that when the Feds handed out the TARP money, and other bailouts, 90% was electronic money.
And as for the question for proof, Numonic, as stated look at the nature of the banking industry and you will see that what is stated is in fact true.
"On top of that you contradict yourself. As ridiculous as it sounded, you said the bailouts were electronic money and then you contradicted yourself and said the banks are not short of money(digital or physical)."
The reason they need bailouts is because they have obligations to met other then those that deposit money into their banks.
For example, shareholders, insurance agencies, and the bigger banks they borrowed money from for investing/or making risking loans.
Again, if it was just for the depositors the banks wouldn't need the bailouts because they are required to keep ~10% of all deposits in physical cash.
This is why your statements about printing are bogus... but you can go one living in your drugged out world where the sky is some other color then blue.
Because, I'm sure it's safer for you (to not have to face reality) and be able to make statements which are not only totally false, but ridiculous to those that don't use drugs.
Okay Anonymous and the problem during the 1920's wasn't that there was a problem minting the gold as fast as it was being demanded. No that wasn't the problem. *Sarcasm*
I'm done Anonymous, I keep saying I'm done but come back to reply. I guess in a way I want to get what I have to say out in order to inform others, so playing this game replying to you isn't a total loss. People will read my replies and read your replies and they will use logic and see that my replies are logical while yours are not.
@Numonic
LOL, if you say so...