Obamas economic advisor no "White Male Construction Workers"

You keep talking out of your ass about this but have yet to post a single link to a single reputable source to back up what you're saying.

I'm supposed to google stuff about bloomberg to try and prove your point for you?

Show me one reputable source that says banks can lend out 10 times their deposits....that that's the way fractional reserve banking works. ONE FUCKING REPUTABLE SOURCE.

If you can't do that, then STFU, because you obviously like to act like you know shit, when you don't know shit, and nothing you say is worth listening to.



edit: Oh yeah, 50 white construction workers

I highly doubt that discussions of race involve affirmative action hiring for these New New Deal programs. It's more likely a case of building a bridge in Detroit vs. Key West.

They may want to target areas with a workforce in dire need of help.

Obviosuly we know who's talking out their ass. Give me something. Proof me wrong. You can't. I can play this fucking game all day long. SHOW ME UP. I begging you...... Because I really want to not know.

I LOL'd a lot at that.

Isn't discrimination... discrimination?

This post basically summarizes what an idiot you are.

You throw out a bunch of conspiracy bullshit and then tell me I have to prove it wrong or else you're right.

That's like me saying the government is covering up the existence of Aliens at Fort Knox, and unless you can prove that's not true, then it is true.

You should really get back on your meds.

Please don't take off your foil hat or else the Illuminati will be able to read your thoughts and send the Freemasons to kill you and even if you escape you won't be able to trade in your dollars for Ameros before the NAU is formed and then becomes part of the one world government where Obama will rule for 7 years before Jesus comes back.

I've given you plenty of proof and examples. You've shown me nothing. All you've done is tell me "what I don't know" and call me a tin foil hat wearer. The simple fact is you don't want to believe that you've been lied to and played your entire life. Face the facts. You have.

Here's some more pills for you to swallow.

Notice how all of the countries at the bottom of this list aren;t a part of the World Bank/ IMF and also happen to be the countries we are at war with because of "terrorism"
http://www.heritage.org/index/Ranking.aspx

The Argentine debt crisis & its US parallels
http://goldonlinedepot.com/argentine.html

Maturity Transformation considered harmful

http://unqualified-reservations.blog...onsidered.html

Peter Schiff's Predictions (2002-2009)

Ron Paul and Peter schiff montage

Ron Paul Destruction of the dollar

Broke? Why not build a swimming pool..



Ron Paul on Bloomberg Shut down the Fed

All you've done is post a bunch of videos from questionable sources or that are speeches by people who are well-known supporters of your fringe theories.

I've asked for one reputable source. One news or academic organization who backs up your preposterous claims.

What's really pathetic is that you claim to "do this all day" as if that's a badge of honor and not a verdict on how pathetic your existence really is.

So once again, for the last time...show me one reputable source, somewhere, anywhere, that specifically says that banks are allowed to loan out 10 times the amount of their deposits, therefore the $700B bank bailout was the equivalent of printing $7 trillion or more.

If you can't do that, then admit you were wrong or STFU.

How much proof is it going to take to deprive you of your ignorance?

http://www.bloomberg.com/apps/data?p...d=i0YrUuvkygWs

This is where you are way way way wrong about me.

I believe in things that have facts and evidence supporting them. I believe in things that come from reputable sources and tend to disbelieve things that come from fringe sources or that obviously have an agenda.

I have no need to believe that the government is telling me the truth about anything. I also have no need to believe that they are lying to me. I have no emotional investment either way.

What I find odd about your kind, is that you are incredibly skeptical of the "official version" of almost any story, regardless of how many mountains of evidence there are to support it....but yet you're willing to put the faith of a martyr into hastily constructed theories with little or no evidence to support them, so long as that theory involved some sort of cover-up or identifies elites, blames them for economic and social catastrophes, and assumes that things will be better once popular action can remove them from positions of power.

You'll believe 1 guy with a PHD who theorizes that 9/11 was a controlled demolition (hence an inside job) and ignore the thousands of scientists and engineers who support the official version of events.

If you were willing to look at things objectively you would see common threads between all of the theories you proclaim to be true today, and the theories that have been recycled for hundreds of years.
http://www.boston.com/bostonglobe/id...piracy/?page=2

At what point are you willing to realize that if 99% of the people disagree with you, it's pretty likely that you're the one who's wrong?

HELLO. MCFLY!!!!!

All that page has is the number 7.4 trillion on there. It has lots of things I explained before, such as the liabilities for nationalizing fannie and freddie and backstopping losses from certain financial institutions.

Nowhere does it say that banks are allowed to loan out 10 times the $700B they received in direct capital injections from the Fed.

Please show me a definition from any reputable source that says fractional reserve banking allows banks to loan out 10 times their deposits, rather than 90% of their deposits.

If you can't do that, then admit you were wrong or STFU.

Bloomberg files a lawsuit against the fed regarding trillions unaccounted for

http://www.bloomberg.com/apps/news?p...Zlc&refer=home

Ron Paul talking about the in excess of 8 trillion in Congress

How stupid can you get?

So how does 700 billion buy up 7.4 trillion worth of assets, unless, let me think about this for a minute, hmmm, Ahh I think I've got it! They create the money out of the 700 billion.

Since you consider wikipedia a "reputable" source you'll find plenty of links here

http://en.wikipedia.org/wiki/Debt-based_monetary_system

It's official, you're an absolute fucking nutcase idiot douchebag.

I gave you half a dozen opportunities to post one solid source regarding what you said about fractional reserve banking and you can't. You can't because you're wrong and not willing to admit it.

All of the things that add up to 7 trillion are a bunch of separate things not necessarily related to the 700B Troubled Assets Relief Program.
Also, the 7 trillion figure is not a figure based on expenditures, but possible future obligations and promises based on the backing of assets and the nationalizing of fannie and freddie and are in no way part of the 700B program.

I am now putting your stupid ass on ignore. I highly suggest you seek professional help and get yourself on some medication.

Actually it's in excess of 8.5 trillion now. And for the record it's my understanding is that along with the TARP program they removed reserve requirements. The reason you only see a portion of the money actually spent is because they have only used the 350 billion first installment. The other 350 billion fills the gap. You keep on living in your little bubble. For those that wish to learn and protect yourself for whats to come I'll to continue to feed information regardless.


Money, Banking and the Federal Reserve
http://video.google.com/videoplay?do...10540567002553

Guys, whenever a race is mentioned people skip over what was actually said and automatically take offense.

While he could have phrased it differently, the crux of what he said wasn't a bad thing.

When it comes down to construction and urban development, I don't know if a lot of you know that the contracts usually go to white male owned companies. The workers may be illegals, or blacks or whatever, but the overall contract is usually given to the white males who own the companies. That's one area that is absolutely controlled by the same crews of construction/urban development company owners.

So, when it comes to this initiative, for it to be said that they are going to make sure some of the money gets to WOMEN owned companies, and minority owned companies and not just the usual WHITE male owned companies isn't really a far out statement.

It wasn't said that it would be unfair distribution of funds, it was more about the funds actually being distributed fairly and not as they have been historically in the past. If you know anything about city contracts then you know about the corruption and kickbacks that is involved with the contract allocation. Checks and balances will be needed to make sure the money is spread around proportionately. That's all they said.

Again, it could have been phrased better. He's a dickhead for saying it the way he did.

And I can guarantee you that Obama is tearing him a new asshole for saying what he did.

Barack has to be livid about a statement like that.

As far as economics is concerned it seems like Paul and Schiff are among a handful of people who actually understand what's going on. If they're telling us that stimulus packages and government bailouts (or 'loans') and/or interventions is a bad thing, I'm tending to agree with that view.

The TWO ways the fractional Reserve and Maturity Transformation banking works.

Fractional Reserve Banking

Let's see how the fractional reserve process works, in the absence of a central bank. I set up a Rothbard Bank, and invest $1,000 of cash (whether gold or government paper does not matter here). Then I "lend out" $10,000 to someone, either for consumer spending or to invest in his business. How can I "lend out" far more than I have? Ahh, that's the magic of the "fraction" in the fractional reserve. I simply open up a checking account of $10,000 which I am happy to lend to Mr. Jones. Why does Jones borrow from me? Well, for one thing, I can charge a lower rate of interest than savers would. I don't have to save up the money myself, but simply can counterfeit it out of thin air. (In the nineteenth century, I would have been able to issue bank notes, but the Federal Reserve now monopolizes note issues.) Since demand deposits at the Rothbard Bank function as equivalent to cash, the nation's money supply has just, by magic, increased by $10,000. The inflationary, counterfeiting process is under way.

http://www.lewrockwell.com/rothbard/frb.html


Modern Money Mechanics Federal Reserve Bank of Chicago
http://www.truthsetsusfree.com/ModernMoneyMechanics.pdf.

Here is how fractional reserve banking works in the United States, using the current approximate 10% fractional reserve ratio requirement:

1) A depositor deposits $100 with a bank. (This depositor could be a citizen, or another bank, even a receiver of the FED's open market operations which is described later.)

Total Reserves: $100, Total Loans: $0, Total Money Supply: $100

2) The bank holds $10 for its reserves and loans out the other $90 to other banks or citizens. If it is a citizen, this money is temporarily held outside the banking system until he/she decides to deposit the money into a bank.

Total Reserves: $10, Total Loans: $90, Total Money Supply: $100

3) Next, the second bank takes the $90 in deposits, holds $9 for its reserves, and loans out the other $81.

Total Reserves: $19, Total Loans: $171, Total Money Supply: $190

4) Step 3 repeats. The third bank takes the $81 as a deposit, holds $8.10 for its reserves, and then loans out $72.90.

Total Reserves: $27.10, Total Loans: $243.90, Total Money Supply: $271

5) Step 3 repeats again. The fourth bank takes the $72.90 as a deposit, holds $7.29 for its reserves, and then loans out $65.61.

Total Reserves: $34.39, Total Loans: $309.51, Total Money Supply: $343.90

6) And so on. The bulk of the money creation is done after 15 repeats, but what is eventually left after 40 or 50 repeats is pretty much:

Total Reserves: $100, Total Loans: $900, Total Money Supply: $1000

So you can see that within a very short period of time, banks transferring to other banks within the system can CREATE $900 from the initial $100 deposit.

http://www.populistamerica.com/how_the_fed_works

Here's how it works, step-by-step, when the FED buys Treasuries, although it is the same process for whatever asset they wish to purchase.

1) The FED's Open Market Committee (FOMC) decides expand the nation's money supply and purchases, for example, $10 billion in Treasury bonds.

Monetary Supply Expansion: $0

2) The FED writes a check on itself for $10 billion. [Where did it get the money? The answer is FROM NOWHERE!]

Monetary Supply Expansion: $10 billion

3) This $10 billion FED check then goes to one of the select government bond dealers (such as Secretary Paulson's Goldman Sachs) in exchange for the $10 billion in Treasuries.

Monetary Supply Expansion: $10 billion

4) Then the bond dealer deposits its $10 billion FED check at a commercial bank.

Monetary Supply Expansion: $10 billion

5) Go to the fractional reserve loop above. We just learned how this deposit will very quickly be "pyramided" and lead to $10 billion in deposits and $90 billion in loans within the banking system.

Monetary Supply Expansion: $100 billion

http://www.populistamerica.com/how_the_fed_works

So where our 700 billion comes in is it's used to buy the treasuries. That 700 billion becomes 7 trillion via this process.

This is what onewebcam is referring to: (i have no idea if it's true or not)

[QUOTE=BV;15387532]This is what onewebcam is referring to: (i have no idea if it's true or not)

It's true this is the document he's referring to

Modern Money Mechanics Federal Reserve Bank of Chicago
http://www.truthsetsusfree.com/ModernMoneyMechanics.pdf

Bernanke has setup 3 bank holding corporations so far that I'm aware of. So the money is deposited into those bank holding co's and instantly multiplied.

Not good if that's a fact.