| Glenn Beck - AIG Smokescreen - Watch This|
I would recommend the video on this page to all. It is very important information. While everyone was angry about the AIG bonuses - the Fed snuck this little deal in behind the scenes.
May the Lord break wickedness with a rod of iron.
*Edit* I saw this piece of news as a small link on CNN when it happened, but didn't think much about it. Now, it wasn't even on the main page (the main page on some nonsense about what Charles Manson does in prison), I had to search for it - here is the original story - http://www.msnbc.msn.com/id/29707055/
With care in Christ,
| 2009/3/20 13:32||Profile|
| Re: Glenn Beck - AIG Smokescreen - Watch This|
The mystery in all this is that the Federal Reserve, as I understand Central Banking, supplied the banks with the money they loaned out to begin with. If you think about how much aggregate debt we have as a nation (home loans, car loans, credit cards, lines of credit, school loans, business loans, the national debt, local and county debts, etc.) there is no way citizens have saved up that money that is loaned out. What happens? Loans are made with money brought out of [i] thin air[/i] by the Central Bank (Federal Reserve). Sounds outrageous? This is called [i]Fractional Reserve Lending[/i].
So if the FED calls in 1 Trillion Dollars in loans they are essentially assuming responsibility to collect on these loans monies created from thin air and loaned out at interest. The banks are being cut-out of the process to the tune of all the interest that could have been made on the Trillion with the added losses of the loans that go into default + any related expenses dealing with collections, etc.
The real 'smoke screen' is the idea that the Fed had to 'buy' these loans from banks- as if they had that amount of liquidity themselves to be able to make a Trillion in loans. Americans do not save nearly as much as they borrow in the aggregate. The money is 'printed' or digitally created by the FED out of 'thin air' in the form of liquidity; i.e, cash dollars are created to make an asset 'liquid'. If I can 'liquidate' and asset I can get cash for it. What if there is no money to buy it? You simply create it from nothing and loan it out at interest.
If it is regulated it 'can' work. But the currency is a FIAT currency that has no real 1 to 1 backing of either silver or gold. This takes the roof off of how much money can be throttled into our economy in the form of loans. These 'loans' have been the driving FORCE of our economy for some time now. When the loans dry up- peoples spending resorts to the cash that is actually available in the economy. Things slow down. The FED controls this 'usually' by changing interest rates.
Making these loans has sent our [url=http://en.wikipedia.org/wiki/Money_supply#United_States]Total Money Supply[/url] through the roof! And the vast majority of it was borrowed. That is a stunning thing to consider. So for the FED to 'buy' a trillion is nothing more than to call the loans to themselves. As I understand it, the money is already in the economy and no new money need be created. The NOTES are simply changing hands from the local banks to the FED.
Robert Wurtz II
| 2009/3/20 14:47||Profile|
| Re: Taylor---in due respect|
Thank you for showing me Glenn Beck, suddenly getting so irate about a situation that had its roots set, many many years ago.
For years, the most astute financial minds, have been warning and warning about "deriviatives", these are bundled up various debt obligations. The problem is this, they are traded, or should I say "were" traded at virtual lightening speed back and forth between banks, investment bankers, pension funds, the whole lot. Now trade in derivatives is frozen, know why?
Nobody knows their true value, hence no trader will make a bid, and when you have no bid, you have no liquid market to trade. Period.
Due respect to Glenn Beck, but he must as dumb as a rock. I read of the trillion buyback, and my next move was to check first the price of silver, up $1.50, a huge move, and then gold, up $60 to $70, a big move, then I looked at the ICE dollar index, which was getting crushed, so its safe to assume that MR Beck is an intellectual lightweight, as far as the financial markets go.
Several years, after watching American personal savings rates go negative, after watching our government under President Bush spend several trillion dollars on a lost war that was born in the swaddling cloth of LIES, while at the same time give back 700 billion dollars to the top 2% of wage earners, I began to slowly and deliberately take all of my wages and savings and I began to buy the finest American silver coins I could buy, whether they be rolls of American Silver Eagles 1 oz coins or rolls of uncirculated pre-1965 American coins, half-dollars, quarters and dimes. I just kept buying as that is my "passbook" savings account.
Sure, I keep just enough money in these zombie banks to pay bills and groceries, and thats it.
But know this; this mess was not born on January 20th, 2009...it origins have long been in the making.
God gave us wisdom, "shrewd as snakes, innocent as doves".
by the way, its NOT too late to start buying silver, but you have to do it in the secondary market, as on March 14th, the US Mint announced its suspending sales of almost all gold and silver products, because they dont have the supply. True. In all my years, I have never seen this happen. You haven't seen THAT news blared on these poor excuses of "news" channels that fill the airwaves with their half-truths,and their shreiking and hollering talking heads.
Ask yourself, why not?
[url=http://goldandsilverblog.com/us-mint-suspends-production-of-more-gold-and-silver-coins/]US Mint suspends production of gold and silver coins[/url]
May God ease your heart, neil
| 2009/3/20 16:06|
| Re: |
Yes, I know this situation did not start, and that the Federal Reserve has been a problem for almost a century. I was simply pointing out this one particular act of the Fed that happened a few days ago.
Thanks for pointing out that the Mint suspended bullion production, I didn't know that.
With care in Christ,
| 2009/3/20 16:35||Profile|
| Re: |
A days wages for a loaf of bread. I think there's a big problem and this poor man sounded a pretty loud trumpet. It appears the New World Order is not too far off unless the Lord Himself intervenes. Their motto of course is order out of chaos. Wow. If the government is in fact run by the illuminati, they don't care about a collapse; they want one.
| 2009/3/20 17:17||Profile|
| Re: |
Thanks for letting us know how smart you are ;-)
No, for real, I actually learned something from your post. I have been considering buying gold for a while now, but I just have not been able to make the plunge. Do you recommend buying gold? Is it worth it?
As far as Glenn Beck goes...if you listen to him, I think he would consider himself a financial lightweight, but the great thing about him is that he actually reports this stuff. He lets us dumb rocks know what is going on out there; whereas, most other reporters/ talking heads, etc just pontificate concerning their favorite party.
Anyway, seriously, would you buy gold now?
| 2009/3/20 22:32|
| Re: |
An excellent, short explanation of the flawed money system is available online:
google "the gig is up"
| 2009/3/20 23:18||Profile|
North Central Florida
| 2009/3/20 23:40||Profile|
| Re: Michael Mahoney|
Thank you for your kindness, but I'm not that smart, I just ran a trading desk in my youth in the 80's, and traded in the pit, watched, listened, learned. Gold is fine if you have a net worth of 10 million plus, but silver is much much better, because its TRADEABLE for everyday goods, if the paper fiat goes to heck.
Right now the COMEX trading board shows gold about 960, and silver at 13.65, these are not real world quotes, they're phony quotes as about 4 major banks have been massive short seller's on the futures exchange. Real world gold one ounce coins trade over a $1000, imo, gold is going to about 3,000 to 5,000 an ounce. Lets say you have to purchase something substanially less, so what do you do?, take a pair of plier and ruin a coin by cutting it into pieces? No.
If you notice in the Bible, the Word refers to a denarius, this was a roman coin containing a tenth of an ounce of silver, hence the word "dime". Until 1964, all American Half dollars, quarters, and dimes were made with 90% silver. After that, no more, expect for the Kennedy half which from 65 to 71 was made with 40% silver, and after that it was cupro-clad, as all our coinage is now. Do know what the metal value today of a Presidential dollar coin or a Sacagewa dollar coin is? three cents in metal value. The only current coin we have that will retain any metal value, tradeable is the lowly nickel which still contains 25% nickel and the rest copper, with a smidge of manganese. Start throwing these in a jar, as the Treasury has made noise about taking the nickel out, and maybe even the copper, like they did the penny in 1983. You can go to the bank, and say you have a "kids event", and they will probably just sell you a full box of rolled nickels, for the $100 face value.
back to silver, the quote on the COMEX futures exchange is $13.65 an ounce...again a phony quote, as these 4 major banks are shorting silver, as the real world price of Silver is between $18 to 25 an ounce. You remember when the pharisses gave Judas 30 "pieces" of silver? These possibly were 1 oz coins. Today, we have the American Silver Eagle, which is a 1 oz coin, and its sold either individually (ehh!) or in 20 coin rolls. (good) Now as I told you, the Treasury has suspended sales of both gold and silver American Eagles, whats that say to you?
on Ebay, with trusted sellers, you can purchase rolls of Silver Eagles for anywhere between 360 to 410, but buyer beware, u have to do due diligence on the seller, check his favorable rating, which has to be above 99% and multiple transactions, if you see this on roll descriptions "unsearched rolls"...stay away, its a lie. It is also prudent to buy pre-65 Halves, quarters and dime rolls,pre-65 Halves and quarter's will come in $10 face value rolls, and dimes in $5 face value rolls, Halves and quarter rolls contain a bit over 7 ounces of silver, and dime rolls a bit over 3 ounces.
It is my belief that silver will be going to $70 to $120 an ounce. When? God knows, I'm a terrible market timer, I just think of this as a de facto passbook savings account....and never put this cache into a banks safety deposit box. Remember in the 30's FDR made private gold ownership illegal. This might seem like just worldy palaber, but God gave us wisdom, time to use it, for His Glory.
here's a website that will help you ascertain the silver and gold value of coins, as well as the current value of the junk coins we pass around now.
[url=www.coinflation.com]Coinflation dot com[/url]
as far as Glenn beck, no offense, all he's doing imo, is sowing the fear, screaming about the "what the next terrorist attack will look like", or "how we'll be wheeling around wheelbarrows full of paper money for a loaf of bread", and offers NO solutions, no thoughtful discourse, because thats what his corporate media masters want, rachet up the fear, keep Americans in a state of witless terror, so that when something DOES happen, Americans will eagerily give up their freedoms to run into the arms of tyrants who will "protect" them. Godless hellions the lot of them I say.
In closing, this silver denarius I spoke,did you know that as Rome got more rotten and corrupt, they began to degrade this coinage to the point where there was no silver left in it. Just buy silver I say and stash it away.
| 2009/3/21 9:23|
| Re: |
Quote:We need to be VERY careful about writing such things -- especially when they are wrought with personal opinion. I have no problem with the liberty to write such stuff (even though I [u]strongly[/u] disagree), but I think that we should certainly distinguish such a thing as an opinion. Even if we were to personally assume that this was a "lost" war, it is a difficult thing to say that the government "gave back" $700 Billion to the wealthy. They didn't "give back" anything; they just stopped taking so much from them (at least, how I understand it).
Several years, after watching American personal savings rates go negative, after watching our government under President Bush spend several trillion dollars on a lost war that was born in the swaddling cloth of LIES, while at the same time give back 700 billion dollars to the top 2% of wage earners...
Anyway, I completely understand your point...even though I disagree. Over the past few months, I have attempted to stay away from politically charged statements (my own or personal responses to such) here on SermonIndex. Not only are they usually unfruitful, they are often a distraction from the focus of this website. Of course, this is difficult when we might see what we feel to be an offense by a member of government (such as those who disagreed with the war in Iraq...or those who are quick to point out President Obama's own record with abortion, etc...).
As for the initial post: Shouldn't we, as believers, be free from worry? The Scriptures say in Matthew 6:25-33 to refrain from worry. Verse 32 says that this is an attribute or [i]Gentiles[/i] (or, as the NIV states, [i]pagans[/i] seek such things). We should definitely strive to live as good stewards and providers for our house...but we should endeavor to trust in God for our daily bread.
With great love,
| 2009/3/21 12:15||Profile|