Skip to comments.Fed to Spend $600 Billion More To Help Boost US Economy (How low will the dollar go)
Posted on 11/03/2010 1:10:06 PM PDT by Hojczyk
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They are doing this to give another bailout to their bank cronies...JPMorgan/Chase, Goldman/Wells Fargo/ City/ and Bank of America to try to reconsitute the fictitous appearance that any are solvent. This is just another way of taking money from your children and grandchildren and paying for the criminal activity of those banks. Once again the FED/federal government ratifies lawlessness, and under penalty of imprisonment, force Americans to pay for this profligacy. This is the final nail in the coffin of the American standard of living.
Well thanks Metmom. Even if someone “bugs out” where are they planning on going? I’d assume with other family members perhaps.
I think I’m in that denial mode in between trying to determine how best to secure myself. Somehow I thought putting a bumper sticker on my window door that reads..”Protected by a 350 magnum”, showing a gun, might be enough to make someone up to no good wonder. ..”Does she or doesn’t she”? (You can stop laughing now)...But when I read about the economy, the possibilities I do get afraid.
I painted and re-carpeted my little bungalo here last summer. The carpet was that awful commercial type. It was a great project and my landlord was delighted of course since I paid for it and did the work. Great thick padding and the carpet was also high grade at a fabulous price! Course I had that installed for me. But this helped a great deal with insulating the floors better, I have an apartment over a garage and the floors were always cold.
You sound like you’ve got your fair share of projects! I remember when. But that was before I lost my husband..years ago now..I have learned at last how to be single!
Who is ChocChipCookie? I’ll put in search and maybe discover. You are right about city living and once food is gone they’ll go to the country next. But maybe by then gas won’t be available and so few who could get there..ya think?
Another thing about this other apartment. It is built on the backside of a new three bay garage, so it looks like part of the building.(Landlords new business), I wouldn’t have considered it except it is really very nice indeed, inside all the more. But you would not really know it was there. Lots of yard too. Plus a garden area. Downside is it is ground level. Still, as things look like they will be going I am really considering this with all considered. It’s located in a tiny village, with only about five businesses scattered throughout. None are grocery. As said..it is really pretty far off the beaten path. Hummmm-mmm am really thinking things thry now.
Sounds like you are pretty set with all the things stored and talent to can things etc. I’ll chech into the book. Am going to need some reading over the winter and I don’t like reading books on the net.Yulk!
Thanks for the advice.
...and....getting the money all under one system so they know where it is...then they'll have the world banking system in place to oversee it all.
BTW has any body noticed many busineses etc. are changing their computer systems or updating them? Seems every place I go recently they are changing things?
I, like you, am just an average citizen, although I do find the subject of economics fascinating.
You will find so many different views on these things that it will make your head spin! After all is said and done, though, nobody can predict the future. As someone else here said, the best thing you can do is live within your means and store up what you can. I do not think that living out in the woods with a stash of dried food is any way to exist, though. Nothing in this world will ever provide perfect security.
One site I find interesting is zerohedge.com. I probably don’t understand half of it, but it is a lively discussion of current issues in economics. Another is The Foundation for Economic Education at http://fee.org/
Also, some good books: Economics in One Lesson by Henry Hazlitt; Basic Economics by Thomas Sowell; The Road to Serfdom by F.A. Hayek; and The Joy of Freedom by David R. Henderson.
I hope you didn’t put that money in a savings account or buried in your backyard.
Breaking News: Ben Bernanke Caught Issuing Trillions to NAMBLA! In an unauthorized “Helicopter” quantitative easing action, Ben Bernanke was photographed hovering above NAMBLA Headquarters unloading box after box of $100 bills into the downdraft.
I don’t have a fancy doctorate in economics like Ben Bernanke but isn’t cause and effect being reversed here? Inflation is usually thought of as an *effect* of economic expansion not as its *cause*. But whatever, Bernanke is apparently smarter than the rest of us, so I guess we have to trust him...
The serfs have traded liberty for a TV clicker. ALL TV supports the Dems/elites/islam. Even Prince Al Waleed - the largest shareholder in Fox.
TV has empowered the overlords to manage the serfs.
The last guy ferfal is especially interesting insomuch as Argentina went through a collapse as is being described in this thread
There are several youtube interviews with him
Thanks....I have been reading about Argentina..though more from the process of governance and politically. They were faced with the very same thing...default, raise taxes, or inflate the currency. They couldn’t pare back on the government handouts as there they would put a bullit in the politicians for doing so......At that time they had a tax rate of over 40% and their gov. spending like no tomorrow. Well they opted to print the money they needed.
They estimated that inflation would increase about 20%...instead it rose by nearly 700%!!! In LESS THAN A MONTH Retirees, pensioners and those on fixed incomes were destitute!!!
TO CONTROL THE RAMPANT INFLATION THE GOV. FROZE PRICES on public services, buses, hospitals and utilities...but to cover rising costs of imported goods they printed more money.
Within 6 MONTHS of printing the first currency inflation accelerated to just under 100% per month...so the people lost half of their buying power every single month! Within one year of printing monies all savings were wiped out! No other country would accept their money in payment for anything....
Then the hemmorage began....argentina assets were being transfered to other countries...we see this happening here now. In one year inflation rate was about 5,600% ! All paper was transferred into real assets at rapid pace.
Next the World Bank isisted they declare martial law over the economy. Currency was frozen and all printing of money stopped. Wages and prices were frozen. Bllack marketing was puishable by long prision sentences. Not unitl a year or so after this did inflation drop to 300 % per year.
What a mess and one it appears pretyy clear we may very well be headed into. Tonight I watched International news headlines and stories in Asia....to see all these new manufacturing companies operating in foreign companies which were once here was beyond sad. And they are all leaving the US for other countries...that’s why Bo has such a massive of people going to India with him...many are Ceo’s and the like from our companies to paln with India for going there and getting the people to work for them.
Thanks so much for the websites and the book recommendations! That is very helpful.
We live way below our means, have no credit card debit, one auto loan due in 24 months (wonder if we should just pay it off?), house will be paid for in 9 years....have guns, ammo, silver and food stored away.
I’m just worried about my cash in the bank and our kids’ investment accounts. I’m wondering if I should start the mattress savings plan. Although, with the value of the dollar dropping, not sure if that would be any good either.
Thanks again - I really appreciate your input!
No, I'm pretty much "all in" on dollar depreciation.
Thanks, Gabrial. I need to work on #1 (it’s all in one bank), #4 (only have our house - will be paid off in 8 years) and 6 (I’m no gardener!). Almost there on #8. :o)
If you’re going to bug out (of a city) you do need to make plans about to where and with who.
I saw a NRA window sticker once that said something to the effect of....
“This house is protected by a (some sort of high power rifle) four nights out of the week. You guess which four.”
We live in a small town and they are not to be sneezed at. We do need to drive for groceries, but again, if the SHTF, there won’t be any in the stores anyway.
There’s a lot to be said for laying low and not attracting attention to yourself.
Plus, in a small town there’s a whole different mentality. You do get to know your neighbors and you watch out for each other.
Is this a car mechanic garage? Unless he keeps it squeaky clean, I’d think twice about it. Go check it out during the day and in the evening to see how noisy it is, what kind of exhaust there is from the cars, how clean he keeps it, etc.
Here’s a link to ChocChipCookie’s homepage.
75 billion a month for the next 8 months (that is thru the 2nd quarter of 2011) is the 600 billion. Don't double count.
The Fed is an independent agency, they don't need approval of the House, Senate or President.
You'd have done better if you bought $20 of the S&P 500 and reinvested your dividends.
Just my opinion, but buy gold if you can afford it. Silver is cheaper and still valuable.