$23.7 Trillion ?!?!?!?

The 'Banker Bailout' is $23.7 Trillion dollars and counting ...

http://www.bloomberg.com/apps/news?p...d=aY0tX8UysIaM

Shameful.

Where does all this money come from?????

The important question is where does all the money go.

http://www.youtube.com/watch?v=n0NYBTkE1yQ

Im pretty sure the above video and the bailout are not related.

If you have followed the Greek market crisis you can understand how important it is for our American economy to have other foreign economies stable, which is why the loans in the video (theoretically, who knows if it will work) was done.

The bailout figure mentioned is an estimate that was done by a person, just like the other estimates of under 3 trillion dollars loaned (20 trillion less than the above estimate) have been computed. The outcome of these bailout distributions will not be known for many many many years from now. and if they are positive no one will know and someone will still say they didn't work still.
A fact often forgot about is, that the majority, if not all, of the money for bailout is done as a loan with interest attached to it. For instance, all of the money loaned to GM was repaid, early, and with interest. And, the government now owns 2.1 billion in preferred stock, which they will sell when GM stock raises, resulting in a profit from that particular bailout.

There are a lot factors involved and I encourage people to do research from both sides of the coin before reacting to the figures (which are often wrong) or accusations.

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Originally Posted by Daniel Valdez

Im pretty sure the above video and the bailout are not related.

If you have followed the Greek market crisis you can understand how important it is for our American economy to have other foreign economies stable, which is why the loans in the video (theoretically, who knows if it will work) was done.

The bailout figure mentioned is an estimate that was done by a person, just like the other estimates of under 3 trillion dollars loaned (20 trillion less than the above estimate) have been computed. The outcome of these bailout distributions will not be known for many many many years from now. and if they are positive no one will know and someone will still say they didn't work still.
A fact often forgot about is, that the majority, if not all, of the money for bailout is done as a loan with interest attached to it. For instance, all of the money loaned to GM was repaid, early, and with interest. And, the government now owns 2.1 billion in preferred stock, which they will sell when GM stock raises, resulting in a profit from that particular bailout.

There are a lot factors involved and I encourage people to do research from both sides of the coin before reacting to the figures (which are often wrong) or accusations.

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The video above IS about the bailout money. I agree, people should do the research for themselves.

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Originally Posted by Don Blankenship

Where does all this money come from?????

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Well apparently my folks lied 2 me when I was a kid cuz it looks like money do grow on trees LoL

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Originally Posted by Don Blankenship

Where does all this money come from?????

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Um, a printing press at the Federal Reserve?

http://cei.org/news-releases/general...ptive-advertis

This article (linked) says that GM actually now admits they lied about paying back the money in full, and says they've only payed back maybe 10%. And they used other government money to pay back that 10%...

Once again.. more bullshit..


Great post Jason.. love seeing Bernanke squirm as Grayson grills him on what legal authority he can hand out 1/2 a trillion dollars..

Grayson:
"You expect to do that with no action by this congress?"

Bernanke:
"Congress approved in it the federal reserve act" (1913)

Totally hilarious...

For people who don't know the federal reserve act was written up in secret by bankers, and then passed through congress days before christmas with most of congress absent and the rest of them no doubt bribed by the bankers to pass it.

And by doing so steal the right and power of the American government to print it's own debt free money and put it in the hands of private bankers, it's not owned by the government. It's owned by private bankers..

So basically... he's saying they have to right to decide to give whatever ungodly amount of money (taxpayer money, your money) to pretty much whoever the hell they want. Because some sneaky ass bankers suckered congress into signing that BS Fed Act in 1913, and 99% of America still hasn't figured out they're using it to steal all our damn money..

Look it up if you don't believe it.. or just admit to yourself your too scared to know the truth if you don't wanna look it up. It's all true..

Here's a short quote from the GM article

The GM ad “gives the false impression that GM has used its own funds to pay back all the bailout money that it received from the federal government,” CEI explained in the May complaint. “In fact, GM has only repaid a fraction of those funds—barely ten percent. Moreover, GM apparently repaid its loan by using other federal funds.” The public is harmed by such misleading claims, as consumers could be unfairly duped into a false, renewed confidence in the company, the original complaint explained. To make matters worse, the false claim was even echoed by U.S. Treasury Secretary Geithner. CEI urged the FTC to investigate GM’s advertising claim, to “serve the American public on this issue of major consumer and taxpayer importance [and] “discourage other beneficiaries of government bailouts from falsely misrepresenting their status.”

Thanks for posting the link to that article about GM Aaron. Everything you said about the Fed is true.

http://video.google.com/videoplay?docid=6507136891691870450#

All I know is that because of greed in the US banking system
The Australian and US dollars are not
Far away from being $1 for $1. Federal reserve banks have all the power. The Australian dollar is backed by the gold bullion we have in ou Australian federal reserve. The higher the price
Of gold, the higher our dollar gets. The amount of gold mined and processed in Australia, plus surplus's from previous budgets and taxes, plus if
Necessary loans from the reserve bank provide our country with our budgets for the year. So my point is what backs your dollar?

Ya pretty shitty for GM to put that false sense of accomplishment up. they should not have advertised it as though they were paying that off with profit. But instead they were really giving the money back.

yes, most people, my guess almost everybody, does not understand money just short of the actual fed reserve people. The things that they do and chose not to do with the money are so far beyond even the smartest people that it would be impossible to try and explain it on a forum or 10 minute youtube video. I don't know, but I know that I don't.
I am sure there is some greed involved in some actions from the fed reserve, but I don't think our country would have had the growth and prosperity for last 100 years (less 5-20) if they weren't doing things that helped our economy.
Our economy will forever have ups and downs, its about lasting through the downs and postponing the fall of the ups.

Although, I do agree it sucks to see all that money go to places that looking at it in the macro sense doesn't seem to be helping the US economy, but I keep hope that someone a trillion times smarter than me looked at it in at the micro scale and truly believes it will benefit our (the US and World) economy.

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Originally Posted by Daniel Valdez

Ya pretty shitty for GM to put that false sense of accomplishment up. they should not have advertised it as though they were paying that off with profit. But instead they were really giving the money back.

yes, most people, my guess almost everybody, does not understand money just short of the actual fed reserve people. The things that they do and chose not to do with the money are so far beyond even the smartest people that it would be impossible to try and explain it on a forum or 10 minute youtube video. I don't know, but I know that I don't.
I am sure there is some greed involved in some actions from the fed reserve, but I don't think our country would have had the growth and prosperity for last 100 years (less 5-20) if they weren't doing things that helped our economy.
Our economy will forever have ups and downs, its about lasting through the downs and postponing the fall of the ups.

Although, I do agree it sucks to see all that money go to places that looking at it in the macro sense doesn't seem to be helping the US economy, but I keep hope that someone a trillion times smarter than me looked at it in at the micro scale and truly believes it will benefit our (the US and World) economy.

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There's nothing wrong with learning from videos on Youtube or Google.

http://video.google.com/videoplay?docid=-515319560256183936#

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Originally Posted by Jarrad Mckay

All I know is that because of greed in the US banking system
The Australian and US dollars are not
Far away from being $1 for $1. Federal reserve banks have all the power. The Australian dollar is backed by the gold bullion we have in ou Australian federal reserve. The higher the price
Of gold, the higher our dollar gets. The amount of gold mined and processed in Australia, plus surplus's from previous budgets and taxes, plus if
Necessary loans from the reserve bank provide our country with our budgets for the year. So my point is what backs your dollar?

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It isn't because of the greed of America, it is because of the criminal acts of a system of central banks in countries around the world. The central banks are in control of the value of currency.

23 Trillion is WAYYYYYYY off. That is considerably more than the entire U.S. budget (which for 2010 is 3.6 trillion). 23 trillion is more money than is currently in circulation worldwide. Bear in mind 1 trillion is 1,000 billion and 1 billion is 1,000 million.

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Originally Posted by Jason Mallory

There's nothing wrong with learning from videos on Youtube or Google.

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I wasn't saying that there was something wrong with learning from "a" video from youtube, I was just pointing out that there is alot more information that is bad or poorly explained than there is good. Consider the motives behind who is making the video and what why?

^^ Ryan, Thanks for the links, I'll scan through them.

I am a public accountant and have taken enough classes to know that I don't know.

As far as reading the book, I try not to read books that are from one sided arguments. I find myself getting angry and frustrated due to the use of personal assumptions mixed between facts thus confusing me whats opinion and what is fact.

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Originally Posted by Daniel Valdez

^^ Ryan, Thanks for the links, I'll scan through them.

I am a public accountant and have taken enough classes to know that I don't know.

As far as reading the book, I try not to read books that are from one sided arguments. I find myself getting angry and frustrated due to the use of personal assumptions mixed between facts thus confusing me whats opinion and what is fact.

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I'm sure you know a lot more about how to manage money than me. I've been learning a great deal over the last few years and from what I've seen, the banking industry is highly suspect. Fractional Reserve Lending plus each nation having a central bank that issues the currencty at interest to the government is the cause of debt.

Quote:

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Originally Posted by Jarrad Mckay

All I know is that because of greed in the US banking system
The Australian and US dollars are not
Far away from being $1 for $1. Federal reserve banks have all the power. The Australian dollar is backed by the gold bullion we have in ou Australian federal reserve. The higher the price
Of gold, the higher our dollar gets. The amount of gold mined and processed in Australia, plus surplus's from previous budgets and taxes, plus if
Necessary loans from the reserve bank provide our country with our budgets for the year. So my point is what backs your dollar?

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China

The bigger question is.... Why do we borrow money to begin with??? Why not print our own money like Lincoln did? The government doesn't have to borrow money from a private entity. The Civil War was funded with "Green Backs". It's funny how the National Debt is equal to our countrys gross income for one year. Just give the money back and start fresh, problem solved. STOP BORROWING. Andrew Jackson beat the banks, time for someone new to do the same. Ron Paul 2012!!!

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Originally Posted by Ryan Cook

Hell yeah, Nelson. End the fed.

Daniel, that first book is more about refuting economic fallacies. I know what you're talking about...

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How do you refute economic anything when the majority of the calculations and theories can be recalculated or countered using a different calculation, estimate, theory, or figure?

This is the reason I don't put much faith in the economic figures.