FEDERAL RESERVE EMERGENCY POWERS ENACTED TODAY
Posted October 7th, 2008 by NCMarc
output
This is something big here...not sure what to make of it yet
Fed to Purchase U.S. Commercial Paper to Ease Credit Crunch
By Craig Torres
Oct. 7 (Bloomberg) -- The Federal Reserve Board, invoking emergency powers, will create a special fund to backstop the U.S. commercial paper market in an effort to support the financing needs of corporations.
The move comes as the credit freeze spreads to the market for short-term debt that hundreds of companies use to finance payrolls and meet other cash needs.
The Fed said it will lend against a special purpose vehicle at the targeted federal funds rate. The unit will purchase from eligible issuers three-month dollar-denominated commercial paper at a spread over the three-month overnight-indexed swap rate, according to a press release in Washington today.
The Fed said the paper purchased by the vehicle must be rated at least A1/P1/F1. Issuers will pay the unit an upfront fee based on the commercial paper initially sold to the vehicle. The vehicle will cease buying commercial paper on April 30, 2009, unless the Board of Governors agrees to extend it.
The Fed yesterday said it will double its cash auctions to banks to as much as $900 billion, and telegraphed today's announcement by saying it was looking for other ways to alleviate liquidity strains.
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This ties in
As I have been researching money trails, I found this all ties into the meeting Oct. 13 2008. The Institute of International Bankers is reporting.
See:http://www.iib.org/
The Institute will
hold its annual Breakfast
Regulatory Dialogue with
Government Officials on
Monday, October 13th during
the IMF/World Bank
meetings in Washington.
Confirmed speakers include
Kevin M. Warsh,
Member of the Board of
Governors of the Federal Reserve System,
and Jochen Sanio, President of Germany’s Federal
Financial Supervisory Authority (BaFin). We
have also invited other senior U.S. and
This is the Institutes news in pdf format. Watch Barney Frank with this>
http://www.iib.org/associ...
which in part reads:
Arrangements are being
completed for a major Institute
conference in New York on Monday,
November 17th, on proposals to
restructure the U.S. regulatory system
that are being developed in response to
the current turmoil in the global
credit markets and concerns with the
competitiveness of U.S. financial
markets.
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
It means.........
They opened a special account to buy all the bad debt and keep it there so we can keep trying to get more debt!
Makes sense if you want to keep breaking the backs of the average joe, but why don't they claim bankruptcy rather than deal with all the hoopla!!?!?!
__________________________________________________________
"The real terrorist's are in this country and they are not planning to blow us up, but rather, take our money, our freedom, and our country."
What does this mean to the average Joe Six Pack?
Job market?
Freedom?
Mullet?
The FED is Bankrupt.....
Please read this:
http://www.kitco.com/ind/...
huh?...
How can the fed go bankrupt? It just does not make sense to me. They have benefitted from printing trillions and trillions of dollars out of thin air.
Maybe they say that they are bankrupt but their backers have made out better than bandits.
It means the collaspe
of FRN's and our known way of life, hang on for a bumpy ride.
Which countries don't extradite criminals to the US
Didn't the Bush family buy a bunch of land in some South American republic?
I just can't imagine this all ending well. When we have no money and just rely on debt that we erroneously call money as a medium the exchange it is no wonder that we face economic calamity. And as far as money as a store of value, this circulating debt is not even close, as anyone who held for any length of time has learned.
We all would probably be safer on an airliner whose wheels and one engine fell off in flight.
I don't know how this will play out, but I don't think financial life will return to what people consider normal for quite some time. Politically we probably would be better off for the whole house of cards to collapse, but government is fighting that to avoid a challenge to their position of power.
I do statistical calculations based on cycles and it looks to me like next May is an important turning point. If gold reaches about $2,000 by then I expect that flight to safety buying will end at that point, and the dollar price of gold will fall thereafter for years. I don't know if this is because the crisis will be calmed from temporary resolution after next May, or if all the banks will collapse at that point, wiping out all the checking and savings accounts, and that fiat money will then become scarce relative to gold causing the ability to buy gold or anything else to disappear.
As long as the States refuse to honor the Constitutional requirement to allow only gold and silver to be legal tender, gold cannot be openly used as legal tender, so to transact business, the fake legal tender (Federal Reserve Notes) will be in some demand.
The Bush's
bought a ranch in Paraguay. Paraguay just elected a populist leader following the South American trend. Hopefully they JUST SAY NO to Bush's.
Gold can be used for legal
Gold can be used for legal tenders as long as it is a us minted coin. Also there is no law against bartering or trading any commodity fr goods and services.
The legal tender laws only force people to use FRN's
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
I'm trying to receive gold and silver for payment
If it is a US gov. minted coin I'll be happy to take it for payment see:
http://www.dailypaul.com/...
Thank you Dr. Paul for making my act on what I already knew was right.
Paraguay
they are building quite a fortress down there for the Bushes
It won't be far enough away
It won't be far enough away to hide.
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
Agree
Any more info on location? Google earth?
Detective Krum Investigates:
http://victory1project.wo...
http://v1-p.com/
If someone posts it to Digg...
...I'll click on it. :)
Hmmmm, this
may be the October surprise, a small blimp that by spring could be a huge problem. Just a guess.
The Fed is Dead
http://silveraxis.com/tod...
Maybe that paper will come in handy
Maybe that paper will come in handy for all the money they'll be printing?
...or for toilet paper when
...or for toilet paper when costco sells their last rolls.
...or to pay rent/mortgage, utility bills, tax, etc. How secure
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
---
is your income?
I happened across Jim Sinclair's response to the Fed's move
to buy up unsecured debt. It seems pretty accurate to me.
"Dear CIGAs,
Today the Fed entered the off balance sheet credit default market and plans to buy unsecured debt instruments in order to cure the problems caused by off balance sheet credit default derivative buying in the form of non-performing failed counterparty credit default derivatives. This appropriately named toxic paper will be purchased to an infinite degree.
The Fed does the same to cure the same.
The Fed actions today declare the bailout bill a non-functioning pile of pork. This infinite production of paper dollars will kill the dollar
Gold will trade at or above $1650.
The Dow is thumbing its nose at the infinite amount of money being dropped by rising 150 points and coming back to even.
Modern day Weimar here we come!
Jim"
http://www.jsmineset.com/
Seems to be a man of relatively few words.
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
car loans
Even car loans are secured by the car. Buying unsecured debt is like ... having the taxpayers buy toxic sewage.
the only 2 people who tell
the only 2 people who tell the truth on the economy and understand what is going on with derivatives is Sinclair and Schiff... if you are not listening to these 2 guys you are very foolish! if you listen to the jz's of this world and can not face what is truly happeneing you will be a hurting puppy!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
fyi- THE RAM is the architect of the infamous 'truth teachings'.
i'd strongly advise you not to include jz in with the bunch of new agers who look at the world through rose coloured glasses.
she now has the ability to see exactly what is coming at us on this timeline. she is 100% comfortable with seeing and telling the truth - to herself and to others. but she goes further than that -- she and the ram teach people how to use their brain to manifest what they need and how to download information into their brain from the future as they need it. so they will be safe and well.
but note -- it was ramtha (not jz) who predicted this was going to occur. he did so back in the 80"s and repeated and updated the teachings all last year.
the basics:
have gardens
buy gold
buy food and supplies (have 2-7 years worth)
have enough fresh water (a well ideally)
have an underground shelter
have seeds and tools for after
I think your jz and my jz
I think your jz and my jz are 2 different people!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
World markets are in a shambles
The bailout isn't working. Does that mean we don't have to pay for it? Of course not!
But it does mean that the millions of Americans, those who wrote and called to say "no," while their traitorous Senators and House Representative said "yes," are going to be even angrier come tax time.
But wait, let's think about this, why wait until April to get angry?
It is time for a housecleaning! Time to show them that they work for Main Street, not Wall Street. And the time is now. Not in 4 years, Not in 2 years, but rather in the next 30 days!
There are several Senators who voted "yes" who are in tight races, and more who are vulnerable. In the House, the analysis is even better. There are over a dozen who are in vulnerable races, where a little bit of effort might make all the difference. And, a number of Senators are also subject to recall (18 states allow of it).
Targeting these so-called "representatives of the people," with print and radio ads highlighting their betrayal, could really make an impact on their chances for re-election -- and put the fear of constituency back into the Washington elite.
Are you interested in making it happen? There isn't much time before the election, so it will take money (quite a bit, things cost more at the last minute) and effort (the same).
What can you do? Make an investment to save America.
Can you participate by offering time (to write letters, post to forums, hang door hangers), special skills (graphic/ad design, copy writing, political analysis, seed capital(!), printing) or funds (did we mention money)? Please send a donation or make a pledge to un-elect these traitors.
Contact the Constituent Response Team at constituentresponse@gmail.com if you can pledge something to save America for the Americans on Main Street.
Constituent Response Team at constituentresponse@gmail.com
P.S. -- We are working on a website, but we are having to use volunteers and are still looking for a graphic designer. Hopefully we will have it up and running soon. The address will be http://www.constituentres... .
They are a private company
They are a private company so they can buy up what they want right?
Yes, so long as they don't
Yes, so long as they don't violate their own charter.
can someone
can someone explain what "commercial paper" is?
"It is the responsibility of the patriot to protect his country from its government."
— Thomas Paine
Financial Terrorist
New meme:
Roll this over in your mind
"Financial Terrorist"
These people are holding our government hostage for Billions or Trillions of dollars and still we don't see it. We laugh at other countries for their acceptance of their domestic terrorist. But we don't see the stick in our own eye!
keep your wealth close to you.
The first step towards independence is to keep your wealth close to you; why empower others?
Buy food and supplies first, if you have a large enough property buy livestock, chickens to produce eggs, cows to produce milk, bulls to produce meat. Farming is the real store of wealth. If you don't have property, go into a joint venture with a small local farmer. You can even participate with your labor if you have skills. Buy local merchadise to support your economy. If you have a lot of cash left over, then store your wealth in silver and gold.
T-bills are a suckers bet.
grant
Farm
I have farm land, an empty house, two wells, tractors & equipment all payed for but haven't been able to find anyone interested in helping. I have two older boys one just joined the army and the other is a self taught computer engineer who is into bikes, art, leaving a small footprint here on earth. I can't seem to find anybody that sees what a lot of us see here on the dailypaul. Even the wife can't see it, People are so sound asleep and lazy I have to bite my tongue sometimes. I had Hmong farmers for a few years but they moved on.I have let it be known at the farmers markets about this farm but still no luck.Can you guess what state I am in? This is thought to be a leading state of radical ideas!
and buy yen
if you have anything else left over after that.
the opening is here.
yen?? give me a break! a
yen?? give me a break! a country who has been in recession for 20 years and has 1/2% interest rates? you are better off buying tulip bulbs!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
This is really bad news...
Something that congress never voted on yet again...
The unconstitutional Federal Reserve is now buying assets of companies.. It is really bad when our banker that has unlimited money that can just buy up whatever it wants.
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Stock up, it's gonna be a long winter.
scrod
Its not just an ugly fish, it is the American taxpayer.