The Federal Reserve is bankrupt !!
Posted October 7th, 2008 by siempre33
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The U.S. Treasury Department quietly rescued — actually, took over — the world’s largest Central Bank on September 17.
be sure to check-out the Ed Bugos article @ Who's Bailing Out Whom?
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Every day is a bank holiday.
It is foolish to use a credit card and wise to use only cash, usually businesses will negociate a discount with cash since they pay a fee every time you charge. Credit cards also leave an electronic trail.
The first step towards independence is to keep your wealth close to you.
Buy food and supplies first, if you have a large enough property buy livestock, chickens produce eggs, cows produce milk, bulls produce meat. If you don't have property, go into a joint venture with a small local farmer. You could even participate with 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, since even if you buy TIPs, which protect agaist inflation, you lock up your money for 5 years with a three month interest and monetary correction penalty for early withdrawls...
grant
Better yet
Go vegetarian, grow your own fruits & vegetables from organic seeds indoors during the winter hydroponically, buy a juicer for optimum vitamins & nutrition (enzymes) and keep a stock pile of nuts, legumes and rice.
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DIEBOLD: "If Your Vote Counts, Then We're Not Doing Our Job."
pillage & plunder
Incompetent officials ,experimental whimsical programs ,inept polititians,
FREEloading citizens & greedy bankers got us to this point.....We were raped on OCT. 1. 2008 with or pants up .....There is no 700 B .It's your back...YOUR future ..After exceding the gold in fort knox it's all paper & credit YOUR BACK.......400B in gold
weee
Our $700 B was actually
to bail out the Fed?
Monetary reserve & collateral
I have read Szabo's article & his conclusion & mine are different ...I too do not believe the FED can go broke without the Congress pulling the plugg...As we have seen OUR gov't has basicly become the co-signer of the FED's debt ..Which in turn is on the citizens of AMERICAN backs ...LITERALY....The Gov't is banking on it's citizens to produce as never before to make up the default that has encompased our financial system...Short of US all dropping dead they have created a vertual "slave shop" for us & our children, & maybe beyond...They are betting on us...PLAIN & simple ....BOPP till you drop...No retirement for you,,,SSI
isn't there anyway...You cannot afford to pay yourself back.....IT's gone along with your childrens' inheritance...That is your ; MONETARY RESERVE ....COLLATERAL on bad DEBT
weee
Im with Republican Liberty... the Fed can't go bankrupt
...until Congress pulls the plug... and with the crooks in Washington... that ain't gonna happen anytime soon
Mike
"Fire Team for Freedom" and "Revolutionary Business"
visit www.mikeandjake.com
DEFLATION...
"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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In my opinion, the Fed is trying to offset the collapsing credit in the private sector. Can the Fed keep up? I don't think so.
The Fed can not go bankrupt
The only way the fed can go bankrupt is when the run out of cotton paper and green ink.
The dollar can collapse but the Fed can not go "bankrupt". They can always cover their debt becuase they can always create new currency. The fed will always meet its obligations as long as they can pay in Federal Reserve Notes.
When they can no longer exchange the notes for cotton paper and green ink they will pay in electronic notes...
When Federal Reserve Notes
When Federal Reserve Notes are no long accepted as a meduim of exchange the electronic notes will equal the value of the FRNs...in other words NOTHING. When the time comes when FRNs are not accepted neither will the electronic notes be accepted...there is no difference between the two, both are fiat creations.
http://www.1776solution.b...
There's one company, so I've read, that supplies the material
upon which the currency is printed by Printing and Engraving. I'm waiting for the time when that company demands payment in something other than fiat-dollars. (Gold, Silver, swiss francs, etc) I recall reading that when the Zimbabwe government started issuing the $100 Billion note, their paper supplier was demanding to be paid in Euros.
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"An economy built on fiat money is a society on its way to ashes."
I have actually been looking
I have actually been looking for such a supplier myself...purely for esthetic purposes mind you.
http://www.1776solution.b...
well stated
so the Fed will continue to create currency to meet thier obligations until their fiat currecy is no longer accepted.
But they will always be able to meet thier obligations by creating new currency.
Do you ever see a time where the Fed can not meet their obligation to supply currency?
And I am not asking whether the currecy has any buying power.
Sure
The Fed will cease to meet their obligations when the currency is worthless. They can try to create a new currency (Amero) but the way public education is going right now unless it's backed by gold or some hard commodity it will die quickly. You can't make money from nothing. Since our money is backed by neither a commodity nor labor the currency is literally worthless. The only thing keeping it going right now is the confidence that the Fed can fool more people with the scam. The dollar will fail. It's not if but when.
I really do wish everyone
I really do wish everyone would drop the so-called "AMERO". The AMERO was designed by Dan Carr and produced by his company Designs Comput...he has, needless to say, made a fortune off of such "spoof" and "fantasy" coins, like the AMERO. He also plans to "mint" a new AMERO in the near future. So, please understand that the concept of the AMERO was nothing more than a marketing ploy and it worked very well.
Here is part of the website for the company that designed and "minted" the AMERO:
http://www.designscompute...
http://www.1776solution.b...
The Amero - North American Currency
I wonder if this guy went to Carrs website and then spread the rumor?
http://www.youtube.com/wa...
Hal Turner has definitely
Hal Turner has definitely gotten a heck of a lot of publicity for his site when he "broke" the story back in late 2006 or early 2007. Like I said, it is extremely important that we chew before we swallow anything instead of taking something at face value and then running-a-muck with such sensationalism that does nothing but diverts our attention.
http://www.1776solution.b...
So, let's see if I have this
So, let's see if I have this right....the Treasury, a Bankrupt Government Agency of a Bankrupt Government bails out a Bankrupt Central Bank which supplies the money to the Bankrupt Treasury of the Bankrupt Government.
The FED is the one who "writes the checks" which creates the money that Uncle Sam plays with.
http://www.1776solution.b...
come on people
how about getting Ron Paul Ralph Nader Peter Shiff and others in front of FED building in New York with a mass of people.
End The Fed End The Fed
http://www.votenader.org/...
http://www.flickr.com/pho...