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the 16 trillion dollar bailout no one is reporting
#1
This Government audit report shows 16 trillion in emergency loans. Sixteen Trillion with a "T".

How is this not getting a little more press?

Audit report story

Just for reference, US GDP in 2010 was only 14.7 Trillion. So the federal reserve handed out more in emergency loans than the country did in GDP.
"And down through the centuries the robes have never failed to keep the public at a respectful distance, inspire a decent awe for the professions, and impart an air of solemnity and mystery that has been as good as money in the bank. The four faculties of theology, philosophy, medicine, and law have been the perennial seedbeds, not only of professional wisdom, but of the quackery and venality so generously exposed to public view by Plato, Rabelais, Molière, Swift, Gibbon, A. E. Housman, H. L. Mencken, and others. What took place in the Greco-Roman as in the Christian world was that fatal shift from leadership to management that marks the decline and fall of civilizations." - taken from a speech by Hugh Nibley
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#2
Obviously the fed didn't have that to loan, that's why I simply believe we are in a massive con game. Probably have been since Nixon's era when he closed the gold window.

The fed simply credited to Deutchbank say $200 billion on a database and that's that.

We've lived like this since 1974 and I think it's basically a dishonest game. It will crash down , maybe in our era, who knows? From the ashes societies must return to honest money in some form or fashion and not a new con game.

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#3
Obviously both parties are doing this to the citizenry. I know I sound like a broken record, but this Big Government mentality has got to run into reality some time, some where. I just don't understand what passes for logic in DC. Where do they get all this "Looney Tunes" thinking?

Also, I'm wondering if this is all accurate anyway?
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#4
(10-03-2011, 10:10 AM)John L Wrote: Obviously both parties are doing this to the citizenry. I know I sound like a broken record, but this Big Government mentality has got to run into reality some time, some where. I just don't understand what passes for logic in DC. Where do they get all this "Looney Tunes" thinking?

Also, I'm wondering if this is all accurate anyway?

It is the result of a government audit I believe at the behest of Ron Paul. There is also another senator who has the document on his website as well.

"And down through the centuries the robes have never failed to keep the public at a respectful distance, inspire a decent awe for the professions, and impart an air of solemnity and mystery that has been as good as money in the bank. The four faculties of theology, philosophy, medicine, and law have been the perennial seedbeds, not only of professional wisdom, but of the quackery and venality so generously exposed to public view by Plato, Rabelais, Molière, Swift, Gibbon, A. E. Housman, H. L. Mencken, and others. What took place in the Greco-Roman as in the Christian world was that fatal shift from leadership to management that marks the decline and fall of civilizations." - taken from a speech by Hugh Nibley
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#5
I think all of this is going to have far reaching consequences for the future, and how we spend money. I'm not certain what is going to come down, but one thing is for certain: the Defecation has not yet struck the Rotating Oscillator. And when it does,.......................
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"Falsehood flies, and truth comes limping after it" - Jonathan Swift, 1710
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#6
These things are not reported (except to some extent on Fox) because the politicians don't care and because the general public has no comprehension of what the numbers mean or what the implications are.

The Fed and politicians are trying desperately to save their own skins without thought for the future, IMHO.

There is no doubt that the chickens will come home to roost. The Grecian riots may be small potatoes to the fallout in the West. ALL Western politicians are scrambling, without fear of being held accountable.
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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#7
Really, what do you honestly expect to happen when 50% of the people living in this country don't pay any taxes?
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#8
They pay taxes. just not federal income taxes.

State+Local+Federal taxes = $6 Trillion of a $14 Trillion dollar economy. THAT is unsustainable. Especially when you consider they spend far more than they take in.
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#9
(10-03-2011, 09:16 AM)Palladin Wrote: We've lived like this since 1974 ...

1933 ... and 1913 before that ...

Nixon merely took the fiat currency scheme to it's logical conclusion ... he's not the one that put it in place. He did you a big favor Palladin, you can actually own currency with real intrinsic value without facing jail time and fines. Remember when that was illegal? Remember when owning gold and silver certificates was illegal? What an embarrassment ... holding a note that meant the U.S. government had actually defaulted ... broken it's word and it's bond ... no wonder the penalties for possession were often stiffer than those for 'illegally' possessing the metal itself. What a funny world huh?

$16 million ... $16 billion ... $16 trillion ... what's the difference when there is no true metric for measuring what the stuff is worth anyway? It's like p*ssing in a swimming pool ... sure there's "the principle of the thing" ... but at some point it becomes so diluted that it's irrelevant.




"Democracy is the theory that the common people know what they want and deserve to get it good and hard."
-- Henry Mencken
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#10
And just think, in the US we don't need to worry about taking a wheelbarrow of cash to buy groceries. All we need is our credit/debit card. Thus, the number of zeros after a price (or debt) does not matter. So, expect inflation as a means to pay gummint obligations.
Jefferson: I place economy among the first and important virtues, and public debt as the greatest of dangers. To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our choice between economy and liberty, or profusion and servitude. If we can prevent the government from wasting the labors of the people under the pretense of caring for them, they will be happy.
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