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Rank: Dutchess of Doodoo
Groups: Registered User, Server Admin, WDFNews.com Official Mapper
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They ran out of money...time for the fed to kick the printing presses into overdrive.
http://uk.reuters.com/article/usTopNews/idUKWA000014120080713Quote: WASHINGTON (Reuters) - U.S. banking regulators swooped in to seize mortgage lender IndyMac Bancorp Inc (IMB.N: Quote, Profile, Research) on Friday after withdrawals by panicked depositors led to the third-largest banking failure in U.S. history. You wanna take this to Fuck Town?
Oh gadzooks, yes!
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Rank: Fecal Impaction For the Win!
Groups: Newsie, Registered User
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Posts: 1,301
Points: 1,263
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Yeah, banking crisis. That happened during the Great Depression when people would rush to the banks and make withdrawals on their accounts because the banks were 1) unreliable and 2) the value of their money was decreasing rapidly. {pDs} Lead Salad: bike why did you change your name
Jessica343: so I can get heals
{pDs} Lead Salad: oh damn good idea
{pDs} Lead Salad has changed their name to {pDs} Lead Salad (is a girl)
Jessica343: hahah
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Rank: Polio Power!
Groups: {pDs} Member, Registered User, Server Admin
Joined: 1/7/2008
Posts: 586
Points: 630
Location: Minneapolis
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Business wrote:time for the fed to kick the printing presses into overdrive.
Too much cash in the money supply will reduce the value of the dollar even more  HAHA stupid horse, the sign says Deer crossing Cantrip wrote:For all you know, you may have been dessert on a day-long cock-feast.
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Rank: Medium-Well
Groups: Registered User
Joined: 5/9/2006
Posts: 2,411
Points: -2
Location: the bottom of the bottle...
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Business wrote:time for the fed to kick the printing presses into overdrive.
only if you want the dollar to go the way of the dodo. yeah, i'm a cranky 'oul fucker. deal with it.
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Rank: Polio Power!
Groups: Registered User, Server Admin
Joined: 6/14/2008
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you mean giving out free money to the entire population doesn't increase the value of the monetary system? Lies! The tax "rebate" we received decreased inflation. Just look at the economy, it's booming!
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Rank: Taco Technician
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ahhhh_crap wrote:
you mean giving out free money to the entire population doesn't increase the value of the monetary system? Lies! The tax "rebate" we received decreased inflation. Just look at the economy, it's booming!
lol
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Rank: Fecal Impaction For the Win!
Groups: {pDs} Member, Registered User, Server Admin
Joined: 11/27/2007
Posts: 1,625
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ahhhh_crap wrote:
you mean giving out free money to the entire population doesn't increase the value of the monetary system? Lies! The tax "rebate" we received decreased inflation. Just look at the economy, it's booming!
Not exactly the same as printing new money which would devalue the dollar even more. The idea behind the tax rebate is to get Americans to put more money into the economy thereby stimulating it.
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Rank: Polio Power!
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These companies have to be allowed to fail.
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Rank: Fecal Impaction For the Win!
Groups: Ogamer, Registered User
Joined: 5/9/2006
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Location: La Habra, Orange, CA
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The banks are failing in line with the number of really shady mortgage loans they were willing to lend out. If they had been as responsible with their clients' money as was expected of them, this shit could have been avoided. But under-cutting competitors' home loans was of utmost important to maximize clientelle and now look at what's happening. silverwasp wrote:Be careful what you wish for... I have 10 younger siblings and I am only 20....
Yes.... Same parents WarMachine wrote:meh...maybe if he hadn't been handed a burning house he could have done great things, but right now he has won the Prize for what? Damage Control?
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Rank: You're gonna stick that where?
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We are in deep trouble so get used to it. FDIC will only back up the large banks considered too important to fail not the hundreds or thousands of small banks. Citibank and bank of America were just found guilty of fraud. Two of the largest banks in America. Citi will buy back $7 billion worth of auction rate securities and pay $100 million in fines but guess what the fed will STILL bail them out. That means you and I will be footing the bill once again. What we are about to see we haven't seen anything like since the great depression. Right now, at this very moment we are undergoing a suckers rally. The dollar will rally and oil and gold will temporarily decline and when it's done BAM! Get ready people this is it. The dollar will seek new lows that have never been seen since its inception. A new depression is upon us. The inflation is coming from the printed money because taxes are no longer enough to pay for the wars and entitlements of this nation. If one understands that socialism is not a share-the Wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of super-rich men promoting socialism becomes no paradox at all. Instead it becomes the logical, even the perfect tool of power-seeking megalomaniacs. Communism, or more accurately, socialism, is not a movement of the downtrodden masses, but of the economic elite. -Gary Allen
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Rank: Fuckstick
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Today the Royal Bank of Scotland reported losses of £600,000,000+ ($1.2bn), Not just the U.S's ecomoney thats gone to the shits.   Quote:Posting related image due to my inability to formulate an intelligent response. BlooDz wrote:i cant type good im stupid
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Rank: You're gonna stick that where?
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{pDs} TERMINATOR™ wrote:
Today the Royal Bank of Scotland reported losses of £600,000,000+ ($1.2bn, Not just the U.S's ecomoney thats gone to the shits.
Does Scotland have a magic money machine like the U.S.A.?
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Rank: Polio Power!
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HeXploiT wrote:{pDs} TERMINATOR™ wrote:
Today the Royal Bank of Scotland reported losses of £600,000,000+ ($1.2bn, Not just the U.S's ecomoney thats gone to the shits.
Does Scotland have a magic money machine like the U.S.A.? I think not. BWHAHAHAHAHAH!
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Rank: Dutchess of Doodoo
Groups: Registered User, Server Admin, WDFNews.com Official Mapper
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This is a problem as old as our country itself. Many powerful men have told us about this. Sometimes I think we are either to stupid to understand, or to lazy to object.
Quote:"Judge the future by the past."
Patrick Henry - (1736-1799)
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
Thomas Jefferson - letter to the Secretary of the Treasury Albert Gallatin (1802)
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
Lord Acton - (1834-1902), First Baron Acton of Aldenham
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Henry Ford - (1863-1947) Founder of Ford Motor Company
"100% of what is collected is absorbed solely by interest on the Federal Debt...all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
The Grace Commission - report submitted to President Ronald Reagan on January 15, 1984
"We have stricken the shackles from 4,000,000 human beings and brought all labourers to a common level, but not so much by the elevation of former slaves as by reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have manipulated a system of oppression which, though more refined, is no less cruel than the old system of chattel slavery."
Horace Greeley - (1811-1872) Editor of the New York Tribune, ran against Ulysses Grant for presidency
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
Alan Greenspan - Chairman, US Federal Reserve Bank
"The bold effort the present [central] bank had made to control the government are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."
Andrew Jackson - To Congress in 1836, Jackson closed the second Federal Bank (est. 1816) with these comments
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.''
Andrew Jackson - In regards to the closing of the Second Bank of the U.S. by revoking its charter
"I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people."
Richard McKenna - Secretary to the Treasury (1903); Speaking in 1924
"Give me control of a nation's money and I care not who makes the laws."
Mayer Rothschild - (1744 -1812), Godfather of the Rothschild Banking Cartel of Europe
and finally...
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."
Woodrow Wilson - In reference to signing the Federal Reserve Act in 1913 You wanna take this to Fuck Town?
Oh gadzooks, yes!
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Rank: Polio Power!
Groups: {pDs} Member, Registered User
Joined: 8/1/2008
Posts: 658
Points: 81
Location: SoCal
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Business wrote:This is a problem as old as our country itself. Many powerful men have told us about this. Sometimes I think we are either to stupid to understand, or to lazy to object.
Quote:
"Judge the future by the past."
Patrick Henry - (1736-1799)
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
Thomas Jefferson - letter to the Secretary of the Treasury Albert Gallatin (1802)
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks."
Lord Acton - (1834-1902), First Baron Acton of Aldenham
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
Henry Ford - (1863-1947) Founder of Ford Motor Company
"100% of what is collected is absorbed solely by interest on the Federal Debt...all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
The Grace Commission - report submitted to President Ronald Reagan on January 15, 1984
"We have stricken the shackles from 4,000,000 human beings and brought all labourers to a common level, but not so much by the elevation of former slaves as by reducing the whole working population, white and black, to a condition of serfdom. While boasting of our noble deeds, we are careful to conceal the ugly fact that by our iniquitous money system we have manipulated a system of oppression which, though more refined, is no less cruel than the old system of chattel slavery."
Horace Greeley - (1811-1872) Editor of the New York Tribune, ran against Ulysses Grant for presidency
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
Alan Greenspan - Chairman, US Federal Reserve Bank
"The bold effort the present [central] bank had made to control the government are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it."
Andrew Jackson - To Congress in 1836, Jackson closed the second Federal Bank (est. 1816) with these comments
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.''
Andrew Jackson - In regards to the closing of the Second Bank of the U.S. by revoking its charter
"I am afraid that the ordinary citizen will not like to be told that the banks can and do create and destroy money. And they who control the credit of a nation direct the policy of governments, and hold in the hollow of their hands the destiny of the people."
Richard McKenna - Secretary to the Treasury (1903); Speaking in 1924
"Give me control of a nation's money and I care not who makes the laws."
Mayer Rothschild - (1744 -1812), Godfather of the Rothschild Banking Cartel of Europe
and finally...
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."
Woodrow Wilson - In reference to signing the Federal Reserve Act in 1913
Alan Greenspan is at least partially to blame for our current problems.
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