26 trillion dollars lent by the FED?

strantor

strantor

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Hi guys, I haven't been around here in a while. Not doing anything e-bike related. Last time I visited, I found that there are a few people on this forum (namely Sunder) who are very knowledgeable in world economics. I'm hoping someone can clear this up for me. Is Alan Grayson referring to new dollars created by the FED and still in circulation, or is he talking about velocity of money? I'm thinking that if the fed actually released 2X the GDP of America into the economy in the span of 3 years, we would have noticed some hyperinflation. I think it's more likely that, say 1 trillion loaned out, 1 trillion returned, 1 trillion loaned out ... [* 26] = "26 trillion loaned out", but not necessarily "total quantity of dollars in the economy increased by 26 trillion."
 
That number is all of the loan guarantees during the crisis plus the 14 trillion debt plus the QE which is so far about 3 trillion
 
The Federal Reserve is a scam put upon the American people years ago in Georgia via a secret meeting. Thomas Jefferson would have spit on the very men to put the whole thing together.

Essentially it comes down to this: That money in your wallet isn't yours and you don't determine the value of it. It belongs to the Federal Reserve, which is not a government agency.

It's a very private corporation that does whatever it wants, but we have little ceremonies to make it appear as if our government has some authority over it (presidential appointments, etc.).

We handed our gold over to a bunch of swindlers.
 
MikeFairbanks said:
The Federal Reserve is a scam put upon the American people years ago in Georgia via a secret meeting. Thomas Jefferson would have spit on the very men to put the whole thing together.

Essentially it comes down to this: That money in your wallet isn't yours and you don't determine the value of it. It belongs to the Federal Reserve, which is not a government agency.

It's a very private corporation that does whatever it wants, but we have little ceremonies to make it appear as if our government has some authority over it (presidential appointments, etc.).

We handed our gold over to a bunch of swindlers.
Click to expand...

Yeah I'm aware of all that. The FED is something that's been of interest to me for quite a while, along with fractional reserve banking and other things. However, I want to truly understand the FACTS of everything involved. I don't like taking things at face value and repeating them - showing my ignorance. I've done that too many times and ended up looking like a fool. I would like to spread the word about this specific action by the FED, but I want to make sure first that it's as bad as it sounds. If it's simply velocity of money then its an issue, but not even close to the gravity of an issue as it would be if we were talking about literally extending 26 trillion dollars worth of outstanding loans.
 
Oh, your question will leave Sunder absolutely. . .SUNDERED!

That video is a mess. Not that TARP wasn't a mess, but the video reminds me of a sitcom joke of the answer on a high school English test: "Moby Dick---Is a book about a WHALE!"

1) Not all banks even WANTED the bailout money. Some were threatened when they tried to refuse, then were threatened again when the Government tried to extort them on the basis of them getting the money. So they GAVE IT BACK INSTANTLY! This is NOT 'Corporate Socialism,' it is Government Facism. The iron hand of the government controlling everything, which is not what Socialism is.

2) $16 trillion. Hmmm, how many home mortgages is that? The point being in the scheme of operating banks, $16 trillion isn't much. If each bank branch (Local office) were to receive $1 million, that's only 16,000 branch offices and/or independent banks. You know how quickly one office can loan out $1 million. But wasn't some $6 trillion of the money going out of the country, not even U.S. banks? It references 1/3rd for that without explanation, also that it wasn't even all loaned, some of it was "Currency Exchanges" to beef up the value of the Euro and others.

3) How much less than $10 trillion was the bank bailout? I think I recall the actual number was $7 trillion, much of which has been paid back. I suppose the $16 trillion number might include the "Quantitative Easing" and "QE II" that have been so destructive, but Obermann and Grayson didn't explain, leaving the water muddy. Never mind what they're trying to scare you with, just go ahead and be scared, eh? Meanwhile, it's suddenly less than half as scary from the start, perhaps one eighth as scary by now.

4) When the Federal Government overspends, the Fed prints money and buys bonds. Ooops, they're blaming the banks when the GOVERNMENT got something like $5 trillion of the money under Obama? I'm not sure if it was today or yesterday, but the debt reached $16 trillion. What a coincidence that this almost one year old video showed up talking about a pseudo $16 trillion at the same time.

Oh, I haven't even scratched the surface. But I can't stand the hate mongering, which is what this video is. Let's switch to 'Avatar' for a quote: "When someone has something you want, you make them your ENEMY, then you're RIGHT to take it from them." That's what Grayson's campaign is all about.
 
Forget the money. That's not the big picture.

The idea is resources, ownership. What you own is your value.

Money is just a medium for trade, and the bankers know how to manipulate it until they get everyone in debt, then take the assets.

Rich get richer, everyone else gets hurt.
 
MikeFairbanks said:
Rich get richer, everyone else gets hurt.
Click to expand...

Oh, now, that's NOT a truism. There was an initial question about "Velocity of money." You can't have velocity of money without people trying to get rich or richer. But you can't have the middle class or the working class do better or even do well without velocity of money. (Isn't it amazing that concept was just slid in there at the start?) If you want something to work, you have to figure out how someone can get rich off it. Electric vehicles is the perfect example, just as soon as someone figures out how to get rich off them, they're gonna work just fine.

Grayson isn't talking ABOUT anything, he's just talking. As Forrest Gump would say, "Stupid is as stupid does." Followed a link on that video to Grayson THINKING he was making a point trying to repackage a question over and over and over. As Forrest Gump would say. . . .

The idea where the Fed is concerned is currency manipulation, the sole cause of economic recession/depression. All those other 'Market Forces' don't have the muscle to cause the major downturn of the economy without the worm eaten floor effect caused by currency manipulation. Do away with currency manipulation, you recreate what by todays standards would be a rock solid longterm economy. To do away with currency manipulation you have to do away with the Fed. Meaning that pain and suffering is here to stay, we'll never be rid of the Fed.

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A lot of politicians are tickled pink about always having that to complain about when they're looking for votes. What do you suppose O Duce will talk about tonight?

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