The IMF, BRIC and OPEC are all on the same page on this as are some European nations. A mix of currencies and commodities.
Its just a matter of time before it happens and then reality will hit the US economy - meaning the same rules that apply elsewhere will then apply here.
That was an agenda being promoted about a year ago. To remove the U.S. dollar as a reserve currency and replace it with a basket of them. China was pushing for this.
I pointed out the drop for the year in the first paragraph below the other numbers, plus have two graphs on it. I will agree with you I need to graph out the monthly data and in all honesty, it's because I'm working on the site upgrade and the FRED in St. Louis magically doesn't have a graph of raw capacity (isn't that interesting how it is not amplified!)
So, I pledge to get the raw data graphed up soon to make it even more obvious the actual production economy continues to be hollowed out!
I'm working on that as a site feature, fast graphing of raw cvs data.
I know you've posted here previously and I'd love it if you created an account. It's a rare bird to find people who actually look at the raw data and understand it and you could really help add to the overall awareness here.
Did you see the headlines claim it's all one big blow out? ha ha. We need the blogs to analyze the data details.
There is a video on Youtube showing Alan Grayson grilling a Fed inspector about what happened to this money and they just can't or won't answer those questions.
Bloomberg has changed the links now rather than print the original allegations. I haven't checked these in quite some time but I am not imagining these actions either. During the fall of 2008 I followed all these stories with tremendous interest.
This is now all part of the Bloomberg FOIA court case which no doubt will be appealed all the way to SCOTUS who will rule this a national security issue and squash the request.
Remember, 25 to life for stealing golf clubs. So what does a man walking out of Walmart with $9 trillion in cash get? Immunity.
strange things can come from the strangest places. Grayson is, IMHO, a rabble rousing Populist and a great voice trying to raise hell. Bernie Sanders is one of my favorite reps. But check this out. Chuck Grassley, of all people, is a defender of U.S. professional workers, strange but true. Here we have corporate notorious, Blanche Lincoln introducing the best derivatives reform to date.
After watching all of this for a while I've concluded, one needs to just focus in on legislation, per issue. Although there are certain Congressional reps. where if it's a corporate lobbyist agenda item, they will be sure fire in a floor speech working to get whatever that item is passed.
I think we have Ron Paul fans on this site and it's so often he does have insight and policies, legislation that do make economic sense.
But EP isn't about social issues per say, unless they involve money (which many do!)
One of the things I believe is going on is that the Mises people are in part being vindicated here as the paper only currency experiment is collapsing.
Gold restricted inflation across the whole economy which is not the case with the fiat currency.
At some point the US dollar will have to be devalued by some huge amount all at once and soon after that it will be replaced as the reserve currency.
how CT. While Zero Hedge has reported things very useful, I always need to watch it with them for I have them out many of their posts have been dead ass wrong. No surprise, blogging away at lightening speed, but I'd verify that to find out what it's all about.
That said, I mean the SIGTARP has put the real liabilities of all of the bail outs at $27 trillion (EP's most popular post), so, what's really on the Fed's books in terms of purchasing toxic crap. ....
midtowng just pointed out the Fed literally bought state based default swaps. i.e. they will be worth something if and only if a state defaults on it's debt. Why would they "buy" that and instead just plain cancel it? They cancel/nullify trades, why can't they cancel/nullify absurd derivatives?
Would be a peoples candidate for sure. I think Grayson may be the closest thing to him with some lighter social views.
I see all over the web claims that the Fed is owned in part by foreign banks which would explain their desire to bail out foreign banks at the expense of US interests.
Zero Hedge has some gold bug videos on their site. I don't know what to make of this continual "paper money" deal on ETFs, at least GLD, for I thought they backed their ETF with 1:1 gold holdings, i.e. physical gold. Seems everyone is looking at this perpetual debt machine and money printing press going to collapse reserve currencies and yes, of course we get this new "reserve" currency as a "basket" of currencies, which well, it's really bad the advantages the U.S. has being a reserve currency.
After the meltdown in Fall 2008. Bloomberg posted a series of news blurbs that said over $9 trillion was unaccounted for on the Fed books - missing. Those articles are no longer online but they are referenced all over. ZeroHedge etc.
When ever something is removed from the web I know the powers to be are at work.
We have no idea what is going on with 'our' money supply. It is in the hands of con men.
I'm really not a Ron Paul fan, assuredly not a "libertarian" (faux pas, amazing some things are free, yet another areas are not, such as a woman being free over her own body?)
But Greider is an uber leftie, hence you can get the story on the history and structure, minus the conspiracy theory slant.
I don't know who owns the Fed. I'd have to go look it up! I do know that the only controls seem to be during the confirmation hearings. That is just too friggin' scary for me and while I get the plan was to not turn it into a political device, seems to me the GAO has a better model for isolation on that score.
This is a strange version of the viatical settlement, in which the "insurable interest" is purchased from the insured, except that the company has not purchased it. It can hardly be deemed "key man" insurance. I cannot insure your house because I do not have an "insurable interest." A mortgage company does. But if I can insure you (an employee) and fire you at will, I fail to see how that either gives me or my company an "insurable interest."
If corporations can do this, let them also provide payment to the employee for this "insurable interest," in the form of a vested severance fund in addition to normal UI. Alternatively, require companies taking out policies on employees to include family members as co-beneficiaries at no cost to the employee.
Insurance, should be regulated to the policy holder having in their direct possession the underlying asset. CDSes enable anyone to "buy insurance" i.e. place bets, without having any connection to the underlying asset.
i.e. naked CDSes. Dorgan is trying to get these banned last I heard and this makes sense.
Because if one looks at the mathematics behind these, without having the 1:1 ratio, on a CDS to the assets, from the mathematical equations themselves, the model becomes invalid.
So, one cannot endorse derivatives, CDSes based on very obviously faulty mathematical models. It's bad enough that mathematical models fail, but to base billions of dollars on something that is flawed and invalid from it's very structure is unconscionable.
Then, on regular insurance, they should ban corporations from taking out insurance on their employees and being the benefit collectors.
In other words, large corporations, including Wal-mart, are taking out life insurance policies on their employees, many who are just workers, not executives and so on, and getting a payout, i.e. the beneficiary, when that person dies.
The very obvious abuses of such a practice (which to my knowledge has never happened), are clear. Oops, bad quarter, gonna go out and "collect" on a few insurance policies on some of our workers.
Who is really writing these reforms? UBS? Goldman?
Major LoopHole in Senate Bill Will Block Derivative Reform
The IMF, BRIC and OPEC are all on the same page on this as are some European nations. A mix of currencies and commodities.
Its just a matter of time before it happens and then reality will hit the US economy - meaning the same rules that apply elsewhere will then apply here.
IMF Proposes New Reserve Currency
That was an agenda being promoted about a year ago. To remove the U.S. dollar as a reserve currency and replace it with a basket of them. China was pushing for this.
Perhaps by the euro? The Yen? The drachma?
I pointed out the drop for the year in the first paragraph below the other numbers, plus have two graphs on it. I will agree with you I need to graph out the monthly data and in all honesty, it's because I'm working on the site upgrade and the FRED in St. Louis magically doesn't have a graph of raw capacity (isn't that interesting how it is not amplified!)
So, I pledge to get the raw data graphed up soon to make it even more obvious the actual production economy continues to be hollowed out!
I'm working on that as a site feature, fast graphing of raw cvs data.
I know you've posted here previously and I'd love it if you created an account. It's a rare bird to find people who actually look at the raw data and understand it and you could really help add to the overall awareness here.
Did you see the headlines claim it's all one big blow out? ha ha. We need the blogs to analyze the data details.
You continue to miss the important story here: industrial capacity continues to shrink. This is the sixteenth straight month of decline.
There is a video on Youtube showing Alan Grayson grilling a Fed inspector about what happened to this money and they just can't or won't answer those questions.
Bloomberg has changed the links now rather than print the original allegations. I haven't checked these in quite some time but I am not imagining these actions either. During the fall of 2008 I followed all these stories with tremendous interest.
This is now all part of the Bloomberg FOIA court case which no doubt will be appealed all the way to SCOTUS who will rule this a national security issue and squash the request.
Remember, 25 to life for stealing golf clubs. So what does a man walking out of Walmart with $9 trillion in cash get? Immunity.
Federal Reserve Cannot Account for $9 Trillion in Off-Balance Sheets Transactions
strange things can come from the strangest places. Grayson is, IMHO, a rabble rousing Populist and a great voice trying to raise hell. Bernie Sanders is one of my favorite reps. But check this out. Chuck Grassley, of all people, is a defender of U.S. professional workers, strange but true. Here we have corporate notorious, Blanche Lincoln introducing the best derivatives reform to date.
After watching all of this for a while I've concluded, one needs to just focus in on legislation, per issue. Although there are certain Congressional reps. where if it's a corporate lobbyist agenda item, they will be sure fire in a floor speech working to get whatever that item is passed.
I think we have Ron Paul fans on this site and it's so often he does have insight and policies, legislation that do make economic sense.
But EP isn't about social issues per say, unless they involve money (which many do!)
One of the things I believe is going on is that the Mises people are in part being vindicated here as the paper only currency experiment is collapsing.
Gold restricted inflation across the whole economy which is not the case with the fiat currency.
At some point the US dollar will have to be devalued by some huge amount all at once and soon after that it will be replaced as the reserve currency.
how CT. While Zero Hedge has reported things very useful, I always need to watch it with them for I have them out many of their posts have been dead ass wrong. No surprise, blogging away at lightening speed, but I'd verify that to find out what it's all about.
That said, I mean the SIGTARP has put the real liabilities of all of the bail outs at $27 trillion (EP's most popular post), so, what's really on the Fed's books in terms of purchasing toxic crap. ....
midtowng just pointed out the Fed literally bought state based default swaps. i.e. they will be worth something if and only if a state defaults on it's debt. Why would they "buy" that and instead just plain cancel it? They cancel/nullify trades, why can't they cancel/nullify absurd derivatives?
Would be a peoples candidate for sure. I think Grayson may be the closest thing to him with some lighter social views.
I see all over the web claims that the Fed is owned in part by foreign banks which would explain their desire to bail out foreign banks at the expense of US interests.
Zero Hedge has some gold bug videos on their site. I don't know what to make of this continual "paper money" deal on ETFs, at least GLD, for I thought they backed their ETF with 1:1 gold holdings, i.e. physical gold. Seems everyone is looking at this perpetual debt machine and money printing press going to collapse reserve currencies and yes, of course we get this new "reserve" currency as a "basket" of currencies, which well, it's really bad the advantages the U.S. has being a reserve currency.
After the meltdown in Fall 2008. Bloomberg posted a series of news blurbs that said over $9 trillion was unaccounted for on the Fed books - missing. Those articles are no longer online but they are referenced all over. ZeroHedge etc.
When ever something is removed from the web I know the powers to be are at work.
We have no idea what is going on with 'our' money supply. It is in the hands of con men.
Assume you meant "hoax".
Till BRIC and the IMF push a new world currency down our throats and then we will lose that ability.
Reality will come crashing down as the dollar will no longer be a safe haven and OUR borrow and spend policies will come back to haunt us.
This pathway makes me wonder if another world war is inevitable.
I'm really not a Ron Paul fan, assuredly not a "libertarian" (faux pas, amazing some things are free, yet another areas are not, such as a woman being free over her own body?)
But Greider is an uber leftie, hence you can get the story on the history and structure, minus the conspiracy theory slant.
I don't know who owns the Fed. I'd have to go look it up! I do know that the only controls seem to be during the confirmation hearings. That is just too friggin' scary for me and while I get the plan was to not turn it into a political device, seems to me the GAO has a better model for isolation on that score.
This is a strange version of the viatical settlement, in which the "insurable interest" is purchased from the insured, except that the company has not purchased it. It can hardly be deemed "key man" insurance. I cannot insure your house because I do not have an "insurable interest." A mortgage company does. But if I can insure you (an employee) and fire you at will, I fail to see how that either gives me or my company an "insurable interest."
If corporations can do this, let them also provide payment to the employee for this "insurable interest," in the form of a vested severance fund in addition to normal UI. Alternatively, require companies taking out policies on employees to include family members as co-beneficiaries at no cost to the employee.
Its a quasi government agency meaning its privately held with government powers.
Who actually owns the Fed? Do the owners have control over the Feds decisions?
Insurance, should be regulated to the policy holder having in their direct possession the underlying asset. CDSes enable anyone to "buy insurance" i.e. place bets, without having any connection to the underlying asset.
i.e. naked CDSes. Dorgan is trying to get these banned last I heard and this makes sense.
Because if one looks at the mathematics behind these, without having the 1:1 ratio, on a CDS to the assets, from the mathematical equations themselves, the model becomes invalid.
So, one cannot endorse derivatives, CDSes based on very obviously faulty mathematical models. It's bad enough that mathematical models fail, but to base billions of dollars on something that is flawed and invalid from it's very structure is unconscionable.
Then, on regular insurance, they should ban corporations from taking out insurance on their employees and being the benefit collectors.
In other words, large corporations, including Wal-mart, are taking out life insurance policies on their employees, many who are just workers, not executives and so on, and getting a payout, i.e. the beneficiary, when that person dies.
The very obvious abuses of such a practice (which to my knowledge has never happened), are clear. Oops, bad quarter, gonna go out and "collect" on a few insurance policies on some of our workers.
oh yeah. It's not just "Bonddad" who ignores what's happening to real people, on the ground.
Pages