Comments on: UPDATED: Barnanke is Stealing Your Wealth by Stealth

By: Michael

Michael — Sun, 01 May 2011 17:12:29 +0000

More of the smoke and mirrors…
from Zach Carter of the Huff & Puff Post
http://www.huffingtonpost.com/2011/04/29/geithner-blocks-regulatio_n_855634.html

The Treasury Department plans to exempt foreign exchange derivatives from new Wall Street reform regulations, a Treasury official said Friday, dismissing concerns that the market prompted $5.4 trillion of emergency support from the Federal Reserve in late 2008.

Assistant Secretary for Financial Markets Mary Miller told reporters on Friday that the foreign exchange market already functions effectively and would not benefit from new rules. Subjecting the market to new rules, she claimed, would introduce a new and unnecessary “process” into “a very well-functioning market.”
During last year’s financial reform bill debate. CFTC Chairman Gary Gensler warned that exempting FX derivatives would allow firms to disguise other trades as FX, enabling large portions of the broader $600 trillion derivatives market to evade regulation.

The Treasury will accept public comments on its plan to exempt FX derivatives from new regulations, and make a final determination afterwards.

By: Michael

Michael — Fri, 29 Apr 2011 21:56:47 +0000

Open naked short Silver contracts by JP Morgan Chase, in the Silver markets with the cheap money from the Fed is out right theft.

These are the same folks who became the Midnight hour banks, back when
Goldman Sachs, alumni Paulson was in power. Now Goldman is running for cover as Greece prepares the international criminal lawsuits.

When will the people learn to use their
cash and or credit unions….

By: Myron Pauli

Myron Pauli — Fri, 29 Apr 2011 18:02:01 +0000

The printed “money” went off to erase the malinvestments of GoldmanSachs, Citigroup, and the rest to the Banksters – hence, it formed a trillion dollars of financial “whiteout”. Another trillion or so goes to bomb Pushtuns, fund Medicare fraud, pay Archer Daniels Midland to burn up the corn crop in your car (hence rising food prices), and pay for greens fees at the Boca Raton Country Club for the retirees to whom we “promised” Socialist in Security. Other funds go to high speed rail links for empty trains, incompetent teachers, malpractice lawyers, dope smoking adolescents listening to Marxists pedagogues in “universities”, and bureaucratic “managers” whose productivity consists of building up empires of more staff and writing memos to each other.

Sadly, if interest rates rise, housing prices will drop because while there are N people who can pay 5% interest on a $600,000 home, there are much much less who can pay 10% interest on a $ 600,000 home. And if housing prices tanks, defaults will rise, and if defaults rise ….

MAN THE LIFEBOATS!!!!

By: MeMyselfI

MeMyselfI — Fri, 29 Apr 2011 12:40:23 +0000

Fed Reserve == War Department

WWIII is being waged monetarily.

Once you understand this it all makes sense.

The problem is that we’re trying to do it WITHOUT explaining it to our own citizens.

High Gas prices, for example, allow the Fed to do QE, but then suck the excess cash right BACK OUT of the flow. They’re trying to exert localized control over the velocity – speed UP for China’s reserves (render them valueless) and at the same time keep the American economy somewhat chugging along.

It is a tightrope walk. If we do not SUCCEED, then the shooting war will being just as WWII began when we screwed Japan over oil, and just as the Civil War started over tarrifs. We’ve got to get China to play ball monetarilly and at the same time keep 10’s of millions of excess Chinese men from going on a rampage. Not fun.