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erkme73 · 07-09-2009, 05:26 AM

Here's an interesting article about the Federal Reserve (not political - remember, their whole reason for immunity from the government is so that they are not influence by politics):

Fed Would Be Shut Down If It Were Audited, Expert Says - Markets * US * News * Story - CNBC.com

Quote:

By: CNBC.com | 10 Jun 2009 | 09:55 AM ET

The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC.

With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said in a live interview.
"If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized."

The article goes on. But this is exactly the kind of stuff that has never happened before, that makes this 'recession' unpredictable.

bjcarpetguy · 07-11-2009, 02:43 PM

Hi all, Thought I'd chime in with a couple thoughts. Back in '07 when this reccession/ depression got started, I spent alot of time researching things going on
that you and I have no control over or knowledge of. I do believe there are things
going on in this world that is or has been designed by the elite. With that being
said I spoke to some of my friends and co-workers at the time who said I was just
being melodramatic. Well One of their stores is now closed, many besides me are
unemployed, and I am sure having a very rough go at it.

I now live in my MH full time as I have gotten rid of almost every thing. We will continue to survive even if the money runs out. I have done it in the past.

Do I think civil unrest could happen? Rodney Kning, The Watts riots, The Black Panthers, Kent State, sound familiar.

Another point, The media is controlled by the FCC. It is a federal agencey so a lot
of what we here is what they want us to and nothing more.

I hope things go back to normal but I sure don't think they will for a very long time.

California is a good example of the mememe mentality wanting the gov't to just give
and spend. Well I'll end with this qoute. "A Government big enough to give you everything you want is big enough to take away everything you have" Thomas Jefferson.

Good luck to all and have a great summer!!

Dmiles · 07-11-2009, 03:40 PM

Quote:

Originally Posted by erkme73

Here's an interesting article about the Federal Reserve (not political - remember, their whole reason for immunity from the government is so that they are not influence by politics):

Fed Would Be Shut Down If It Were Audited, Expert Says - Markets * US * News * Story - CNBC.com

The article goes on. But this is exactly the kind of stuff that has never happened before, that makes this 'recession' unpredictable.

AND a lot of folks would be hauled off to prison.

I find it hard to believe so many folks so happy about Bernie Madoff going to prison for the rest of his life (as he should) but they can't see that what he did is small potatoes compared to what the government is doing right in front of us. Social Security is a Ponzie scheme that is exponentially larger than Madoff's ever was. I have yet to hear any mention of this from anyone in the mainstream media.

When this one collapses, everyone will be "shocked" and "outraged" especially since those most responsible will still be good to go becasue they got to make the rules, while we were more concerned with who got kicked off the island or won American Idle. And I spelled Idle the way I did on purpose because I think it more fitting than Idol in this case.