OT: Another bank bites the dust

oblique strategies · Post by **oblique strategies** » Fri Sep 19, 2008 9:20 am

deva wrote: Conspiracy is a funny word. It is interesting to note that the people who made the choices which brought about the depression made vast sums of money from those choices... and the US was changed from a nation full of farmers and small businesses into a nation full of wage slaves.

Yes indeed. The "C" word is trotted out a lot these days. I find it very hard to believe that those in power, those who have been in power for generations, would fail to plan for their future... People usually say "These leaders are stupid & make bad decisions." Yet these same 'stupid' people are profiting from these 'bad' decisions.

Just because the average citizen doesn't have a multi-generational plan that encompasses decades, populations, & the global economy, doesn't preclude other, more organized interests from having such plans. Yet, if you try to point this rather obvious possibility out to people they say it is a 'conspiracy theory'. Is it so hard to believe that those in power band together to promote their own well being at the expense of the peasants? Is it so hard to believe that they have the wealth, resources, & time to further their aims to unprecedented degrees? Let me just say that again: they have the wealth, the resources, & the time.

It has been said that the main goal of power is to maintain power.

As you pointed out, it is a systematic looting that has been going on for many years.

Pitch Black · Post by **Pitch Black** » Fri Sep 19, 2008 12:13 pm

"I have ways of making money that you know nothing of."

-John D. Rockefeller

blakbeltjonez · Post by **blakbeltjonez** » Fri Sep 19, 2008 12:54 pm

good morning, and no shorting US financial stocks allowed today! ..... welcome to the planned economy, comrades!

the government is balls deep now.... this is not going to end well.

blakbeltjonez · Post by **blakbeltjonez** » Fri Sep 19, 2008 12:57 pm

oblique strategies wrote:I can't help but see it all as a macro version of what happened to the town of Flint Michigan, as documented by Michael Moore in the film 'Roger & Me'.

The systematic stripping away of the resources of a town, but being done to a nation. Bit by bit.

Actually, it's being done to a lot of the whole world!

bingo. you get the gold star...... how a lot of the Rust Belt is now, you will see in the rest of the states in a future not too far away. but with more taxes and less services/infrastructure. we will live to service the debt of LEH, FNM/FRE, AIG, etc.

deva · Post by **deva** » Fri Sep 19, 2008 4:08 pm

Homebelly wrote:
deva wrote:
Homebelly wrote: Its not quite as simple as that, there where all kinds of reasons for the great depression. Admittedly, if you look at those reasons from a very narrow view then you are correct the FED was one of them. But if you broaden your view you'll see that it was a whole bunch of phenomena that caused the actual "Depression" including bad legislation on the part of the US treasury and a very slow moving Congress that the FED was trying to advise to free up cash but wouldn't. Other reasons included falls in international trade, the slowing down of domestic trade in the US, and the inability of Germany to continue paying its war reparations to the US and the UK. Its way to easy to blame the FED by its self, or the central banking system as a whole, especially when you add into the picture all of the other masonic one world government poop being flung around at the moment that ties the FED into some ornery all encompassing conspiracy.
Bernanke has publicly stated the Fed caused the depression. Obviously there are many factors and such a statement is a bit simplistic. Nevertheless, Bernanke made it during a speech honoring Friedman.
The reason i am biting on this is because some one else recently tried to tie these ends together in another conversation i was having. At that point i wasn't aware of the statment so i went to look for it. Here is a link to the speach.
http://www.federalreserve.gov/BOARDDOCS ... efault.htm
Its my opinion, and also i think the tone f the last paragraph, that Bernanke is being a little facetious here and is in no way accepting blame on behalf of the Federal reserve system. There is a lot not to like about the central banking system, but i don't think this is one of them.

I think the result speaks for itself. An unaccountable private institution is created which controls the resources of the nation and in a few decades those who control that institution are vastly wealthier, more powerful, and the country is impoverished and a previously independent citizenry is forced into wage slavery.

Duh...

Now we are seeing the exact same thing happen again and we can see the same pattern emerging.

djadonis206 · Post by **djadonis206** » Fri Sep 19, 2008 4:50 pm

I'll take the pwn

MacroEconomics came about from the Great Depression, not the FED

but it is in MacroEconomics you learn about the FED

a context error

4 points in each class though

Homebelly · Post by **Homebelly** » Fri Sep 19, 2008 4:55 pm

deva wrote: An unaccountable private institution

It is neither of these things, it is an independent government department accountable to the legislative branch of government. In the example of the US that would be Congress, which is its self made up of the house of representatives and the Senate.

deva wrote: those who control that institution are vastly wealthier, more powerful, and the country is impoverished and a previously independent citizenry is forced into wage slavery.

Wow!!.. what a mouth full.

deva wrote:Duh...

Now we are seeing the exact same thing happen again and we can see the same pattern emerging.

and we are also seeing the federal/central reserve banking system do what it was set up to do, and not just in the US, but in every country that has a central reserve...
But what the hay..I am not nearly clever enough to try and explain this, Hell!..i can only just barely understand it, but i do know enough to know that the courses of what is going on around us right now are not nearly as simple as blaming the FED or the supposed shadowy "Owners" of it.

NorthernMonkey · Post by **NorthernMonkey** » Fri Sep 19, 2008 5:09 pm

Looks like it's all going to boil down to the humble US taxpayer to save the day - who would have thought you guys would be bailing the world out? What a fucking mess.

Moody · Post by **Moody** » Fri Sep 19, 2008 5:18 pm

3rd world planet next?

deva · Post by **deva** » Fri Sep 19, 2008 5:23 pm

Homebelly wrote:
deva wrote: An unaccountable private institution
It is neither of these things, it is an independent government department accountable to the legislative branch of government. In the example of the US that would be Congress, which is its self made up of the house of representatives and the Senate.

In theory, yes... in practice? Please don't tell me you really think it works this way.
This basically reveals the truth.

Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury
http://www.bloomberg.com/apps/news?pid= ... PBaUbYV_qQ

During this crisis of historic proportions, Congress may adjourn? They know they are irrelevant and this says so. Potential collapse of the US economy looming and Congress goes on vacation! At least they do not pretend anymore. I guess...

The Fed is autonomous and can act without the approval of Congress or the President. It can generate its own money too.

We are long past the point when Congress (owned by the same big money) could exert control of the Fed. So now the Fed, run by the people who control the institutions that have been robbing people blind, bail themselves out, and taxpayers have to foot the bill. The greatest criminal enterprise in history!!

200+ years ago some people got mad and they had a slogan: No Taxation Without Representation.

djadonis206 · Post by **djadonis206** » Fri Sep 19, 2008 5:27 pm

djadonis206 wrote:
while it would be naive to say the FED is not influenced by what ever administration is in office, the FED does not have to answer to the president, or congress

deva · Post by **deva** » Fri Sep 19, 2008 5:28 pm

Moody wrote:3rd world planet next?

yup... the people of the US are remarkably obedient and passive.

Moody · Post by **Moody** » Fri Sep 19, 2008 6:02 pm

deva wrote:
Moody wrote:3rd world planet next?
yup... the people of the US are remarkably obedient and passive.

Indeed, fortunately enough I have been scouting out prime camping spots.

Homebelly · Post by **Homebelly** » Fri Sep 19, 2008 6:09 pm

deva wrote: In theory, yes... in practice? Please don't tell me you really think it works this way.
This basically reveals the truth.

Democratic Congress May Adjourn, Leave Crisis to Fed, Treasury
http://www.bloomberg.com/apps/news?pid= ... PBaUbYV_qQ

I'm not sure what your reading in this article, but it seems to me to be saying that congress and the fed are both doing what they are supposed to be doing..

deva wrote: The Fed is autonomous and can act without the approval of Congress or the President. It can generate its own money too.

No it isn't... and no it can not.. The FED can only act with in the legislation created by Congress.
There is no reason for congress to get involved at this point as it has created all of the tools that the fed needs at the moment. In fact it is probably a good thing that congress is out of the way,, another point expressed in the article.

Any how...
I'm gonna drop this now. Like i said earlier, i don't understand this well enough to explain it or get worked up over it on the abes forum.

deva · Post by **deva** » Fri Sep 19, 2008 6:52 pm

Homebelly wrote: Any how...
I'm gonna drop this now. Like i said earlier, i don't understand this well enough to explain it or get worked up over it on the abes forum.

good plan !