Helicopter Ben Bernanke just printed $41 Billion today

[Stealth4]

Largest "infusion" since 2001.

http://news.yahoo.com/s/ap/20071101/ap_on_bi_ge/fed_markets

This pisses me off more than O'Reilly on Fox news. :mad::mad:

[NewEnd]

I know, supposedly his biggest concern was inflation.

As soon as he becomes chariman, he just starts slashing the rates, trying to bail out those piece of shit financial companies that 2 years ago were giving their executives billion dollar year end bonuses.

We are being robbed blind by the counterfeiters!!!!!

:mad:

[NinjaPirate]

maybe it's for the 41(42?) billion Bush asked for the war...

[stones88]

I was looking at what classes I may take next semester and who the professors would be (ratemyprofessors.com) and for General Economics the textbook used is co-authored by Ben Bernanke himself.

scary. I guess you have to get to them while they're young and vulnerable.

[chinaCat]

Since Jim Rogers came out in a sort of support for Paul recently I have been researching commodities, and listening to what those in commodities have to say. It is almost more troubling than when I first started listening to what Paul had to say.

The big problem with Iran I think some may argue is their pursuit of an Iran Oil Burse or the IOB, which is in effect an oil market based in Iran which trades Oil in Euros and not Dollars. Looking at the euro in comparison to the dollar this is not too farfetched as the dollar is very weak, and today even weaker. To compete the United States would have to bolster it’s dominate currency. OR create a new one, but now this is where fact end and conspiracy begins. I think, but any plan to implement a new currency would be a long range plan, and not one that develops overnight.

[Stealth4]

I got out some frustration by witing to the Federal Reserve.

I did recieve a personal reply the next day, which I was surprised by - I was firm, but also professional in my note.

http://www.federalreserve.gov/feedback.cfm

Make sure you copy your reply before you hit send. I didnt and I had to get to the feedback page through the main site before it would work. Once I went to Federal Reserve . gov, went to site map, and then contact us on the bottom of that page it worked. Perhaps it will work directly for you.

[murrayrothbard]

"The Federal Reserve Bank of New York, which carries out the central bank's open market operations, moved Thursday to inject $41 billion in temporary reserves into the U.S financial system."

What you've got to understand is that with fractional reserve banking, the banks that receive these newly created reserves will be able to extend credit / increase the money supply by far more than $41 billion. If the reserve requirement is 10% (not sure what the number actually is currently) the banks can use this $41 billion as the reserve requirement for an additional ($410 - $41) = $369 billion in new credit / deposits.

[slantedview]

I know, supposedly his biggest concern was inflation.
:mad:

I'd love it if once and for all every citizen in the US could know that the Fed doesn't give a fuck about inflation. Their concerns are as follows (quoting Mike Shedlock):

1. Bailing out their banking buddies.
2. Bailing out their banking buddies.
3. Bailing out their banking buddies.

[Green Mountain Boy]

US consumers request $11 Billion of new money to be created every day.

[aravoth]

"The Federal Reserve Bank of New York, which carries out the central bank's open market operations, moved Thursday to inject $41 billion in temporary reserves into the U.S financial system."

What you've got to understand is that with fractional reserve banking, the banks that receive these newly created reserves will be able to extend credit / increase the money supply by far more than $41 billion. If the reserve requirement is 10% (not sure what the number actually is currently) the banks can use this $41 billion as the reserve requirement for an additional $410 billion in new credit / deposits.

:mad:

[RP4ME]

Since Jim Rogers came out in a sort of support for Paul recently I have been researching commodities, and listening to what those in commodities have to say. It is almost more troubling than when I first started listening to what Paul had to say.

The big problem with Iran I think some may argue is their pursuit of an Iran Oil Burse or the IOB, which is in effect an oil market based in Iran which trades Oil in Euros and not Dollars. Looking at the euro in comparison to the dollar this is not too farfetched as the dollar is very weak, and today even weaker. To compete the United States would have to bolster it’s dominate currency. OR create a new one, but now this is where fact end and conspiracy begins. I think, but any plan to implement a new currency would be a long range plan, and not one that develops overnight.

thats teh reason for war with Iran not the chance they may one nuke day make one.

[chinaCat]

thats teh reason for war with Iran not the chance they may one nuke day make one.

Iran would not nuke us, they may attack isreal, but israel can take care of herself. If we would support israel than an temporary Oil embargo may be placed on us, as it was in the arly 70's. The arabs of course droped that embargo in 4 months becuase of the high price oil was trading for. Money is the bars of the iron cage of capitialism if ask Max Weber. Okay, now back to my homework on the reading on Max Weber... class in 30mins.

NOTE: Iran is not an arab nation, so when I say arab think Oil producing countries of southwest asia/middle east

[MS0453]

This image from the Mises Institute has got to be one of my favorites:


http://www.mises.org/images4/Bernanke.jpg


Sums everything up nicely.

[murrayrothbard]

This image from the Mises Institute has got to be one of my favorites:


http://www.mises.org/images4/Bernanke.jpg


Sums everything up nicely.

Best pic ever :eek:

[JosephTheLibertarian]

Ha.. the zionists are really fucking us now

[murrayrothbard]

Ha.. the zionists are really fucking us now

I think it's more like the banks are doing everything they can to keep the party going. This will either continue to accelerate into a hyperinflationary crack-up boom or a total bust. Either way it reeeeeeaaaalllly sucks. My bet is on hyperinflation. we'll see...

[Green Mountain Boy]

I think it's more like the banks are doing everything they can to keep the party going. This will either continue to accelerate into a hyperinflationary crack-up boom or a total bust. Either way it reeeeeeaaaalllly sucks. My bet is on hyperinflation. we'll see...

We've already been hyperinflating for years.

[murrayrothbard]

We've already been hyperinflating for years.

Hyperinflation is when you start seeing people buying groceries with wheelbarrows of cash. When prices double in a day. No we are not in a hyperinflation. Massive inflation, yes. Hyper inflation, no.

[4Horsemen]

http://img338.imageshack.us/img338/309/crashbh5.jpg
By steel71 (http://profile.imageshack.us/user/steel71) at 2007-09-14

[4Horsemen]

http://img212.imageshack.us/img212/9347/bernanke20plate20spinnezy0.jpg
By steel71 (http://profile.imageshack.us/user/steel71) at 2007-09-18

[Elwar]

Ok, I don't disagree with the Fed injecting billions into the economy with this one minor caveat that I think most folks here will agree with me on...

That money should be injected into the economy through me...

Here's my pitch, then if you agree...call your Federal Reserve representative.

I can spend money...I'm pretty good at it, I have about 30 years experience with it.
I would buy things on the Internet...thus spreading the wealth all over the country
as opposed to just here in San Antonio.

I am getting married in a few weeks and my fiance is most likely the best
spender in the world. She would be pleased to help me with this.

I would max out my contribution to Ron Paul and any grassroots campaign. And anyone
who helps me in this effort gets a million dollars, because that's the kind of nice guy that
I am.

All of this work of injecting money into the economy I would do for free.

Now go forth and make it happen.

[Green Mountain Boy]

Hyperinflation is when you start seeing people buying groceries with wheelbarrows of cash. When prices double in a day. No we are not in a hyperinflation. Massive inflation, yes. Hyper inflation, no.

I know what hyperinflation is.

It is when the total money supply is growing at an exponential rate. It is always followed by hyperdeflation.

Have you ever looked at the graphs? Total credit market debt?

[4Horsemen]

http://img512.imageshack.us/img512/4418/horseybernie20070808xg4.gif
By steel71 (http://profile.imageshack.us/user/steel71) at 2007-09-08

http://img253.imageshack.us/img253/430/bernankehelicopterjq8.jpg
By steel71 (http://profile.imageshack.us/user/steel71) at 2007-09-08

[torchbearer]

I am pissed to no end... they didn't just inject money into the market, they just stole the value of the few dollars i made today working my ass off.... i a PISSED, almost to the point of making sure i have plenty ammo ready to go.... these crooks heads will role... they better start fearing the american people... we are waking up.

[Adamsa]

I like your idea Elwar, but I think I should run it though...

[murrayrothbard]

I know what hyperinflation is.

It is when the total money supply is growing at an exponential rate. It is always followed by hyperdeflation.

Have you ever looked at the graphs? Total credit market debt?

Ok, but growth in money supply MUST accelerate to sustain a boom. I think we are arguing over semantics. All I was saying is that the current situation will resolve itself in one of two ways: hyperinflation (by which I meant MASSIVE, as in a lot faster than now; weimar republic style) or fed stops injecting reserves and massive deflationary depression.

[Green Mountain Boy]

Ok, but growth in money supply MUST accelerate to sustain a boom. I think we are arguing over semantics. All I was saying is that the current situation will resolve itself in one of two ways: hyperinflation (by which I meant MASSIVE, as in a lot faster than now; weimar republic style) or fed stops injecting reserves and massive deflationary depression.

True, however you can't get out of the situation by printing and printing currency a la Weimar Republic. In today's system, it's the U.S. consumer that's inflating the money (debt) supply. As soon as consumers can't afford to request any more debt, that's when the deflationary implosion will occur.

[freelance]

http://img338.imageshack.us/img338/309/crashbh5.jpg
By steel71 (http://profile.imageshack.us/user/steel71) at 2007-09-14

OMG! I just "got" your name when I saw the picture. Glad to see another one of us on here.

JS just said the other day that $1650 might be understatement. I think that's right.

[murrayrothbard]

True, however you can't get out of the situation by printing and printing currency a la Weimar Republic. In today's system, it's the U.S. consumer that's inflating the money (debt) supply. As soon as consumers can't afford to request any more debt, that's when the deflationary implosion will occur.

What about all the financing of capital goods that takes place? This amount of spending dwarfs consumer spending. This is where the problem lies. When the money pump slows, all these massive capital intensive projects will turn out to have been errors.

[Magsec]

If the Fed is creating $11 billion a day, that's....$35 per U.S. Citizen...Why the **** am I paying taxes if I'm not seeing this free money the Fed's pumping out?

[Falseflagop]

Not cut them OIL will be over $100 soon ! Gold over $800 soon !!


Foreclosures doubled last month alone!! 3 inning in a game of 9 much more to go !

[tangent4ronpaul]

This makes so much sense now!

you know that spambot that got a RP youtube vid nuked for violating TOS? Guess what it was....

from the Wired article:

>This is trivial stuff as I’m sure you can appreciate, but that .. did catch my attention:

> .. 345s6g -redirects-> 301 Moved Permanently -to-> http://www.youtube.com/watch?v=AeHWW5gbc0w


Google: "http://www.youtube.com/watch?v=AeHWW5gbc0w"

topic seems to be...

"Ron Paul Slams Bernanke For Dollar Meltdown"

http://noworldsystem.com/2007/09/22/ron-paul-slams-bernanke-for-dollar-meltdown/


Now, who profits?

-n

the comments on the vid are still up:

http://www.youtube.com/comment_servlet?all_comments&v=AeHWW5gbc0w

we need to be like a hydra and have a ton of people re-post this vid, then send out links to the various vids?

please tell me someone has copies of the 3 vids!!!!! PLEASE!!!!!!!!!!!!!!!

-n

[Zydeco]

Since Jim Rogers came out in a sort of support for Paul recently I have been researching commodities, and listening to what those in commodities have to say. It is almost more troubling than when I first started listening to what Paul had to say.

The big problem with Iran I think some may argue is their pursuit of an Iran Oil Burse or the IOB, which is in effect an oil market based in Iran which trades Oil in Euros and not Dollars. Looking at the euro in comparison to the dollar this is not too farfetched as the dollar is very weak, and today even weaker. To compete the United States would have to bolster it’s dominate currency. OR create a new one, but now this is where fact end and conspiracy begins. I think, but any plan to implement a new currency would be a long range plan, and not one that develops overnight.


This isn't a "conspiracy," it's the reason we took out Saddam (he had started to sell in Euros) and the reason Cheney is trying to gin up a war against Ahmedinejad (he's selling in yen to the Japanese, yuan to the Chinese, and Euros to everyone else).

The petrodollar is crumbling, just look at the dollar index, down to 76 and change today. That's why you have your money backed by assets and not just what's been backing ours, 1) the ability of the us fed gov to tax its citizens and 2) that we forced all countries in the world to buy and sell their oil in dollars, artificially inflating its value.

Notice how none of the myriad reasons they gave for hitting Iraq made sense, and neither do any of the ones they're giving for invading Iran? Selling oil in non-dollar currencies, that's the real "crime" of Saddam and Ahmedinejad.

First thing we did after kicking Saddam out of power? Switch Iraqi oil sales from euros back to dollars. Very "Goodfellas"-like.

Disgusting.

PS -- Russia is about to start selling in rubles and euros, and we can't attack them...

[conner_condor]

I am pissed to no end... they didn't just inject money into the market, they just stole the value of the few dollars i made today working my ass off.... i a PISSED, almost to the point of making sure i have plenty ammo ready to go.... these crooks heads will role... they better start fearing the american people... we are waking up.


DITTO!!!!!

[rgampell]

All,

Whether you like the idea of a Fed Open Market Committee or not, you should know that today's 3 repo actions (totaling $41B) amounted to nothing more than rollovers of prior repos being withdrawn today ($42B worth, I believe). In 2007, the total repo pool has hardly grown at all. This is not to say that the broad money supply isn't still increasing rapidly, just that nothing today contributed to it. I'm not sure why the press is suddenly reporting this stuff (inaccurately). It's weird to see.

For details on today's repos:

http://www.ny.frb.org/markets/omo/dmm/temp.cfm

For a quick primer on Fed repos:

http://en.wikipedia.org/wiki/Repurchase_agreement#United_States_Federal_Reserve _use_of_repos


-- Rich

[conner_condor]

This makes so much sense now!

you know that spambot that got a RP youtube vid nuked for violating TOS? Guess what it was....

from the Wired article:

>This is trivial stuff as I’m sure you can appreciate, but that .. did catch my attention:

> .. 345s6g -redirects-> 301 Moved Permanently -to-> http://www.youtube.com/watch?v=AeHWW5gbc0w


Google: "http://www.youtube.com/watch?v=AeHWW5gbc0w"

topic seems to be...

"Ron Paul Slams Bernanke For Dollar Meltdown"

http://noworldsystem.com/2007/09/22/ron-paul-slams-bernanke-for-dollar-meltdown/


Now, who profits?

-n

the comments on the vid are still up:

http://www.youtube.com/comment_servlet?all_comments&v=AeHWW5gbc0w

we need to be like a hydra and have a ton of people re-post this vid, then send out links to the various vids?

please tell me someone has copies of the 3 vids!!!!! PLEASE!!!!!!!!!!!!!!!

-n

Found one..

http://www.youtube.com/watch?v=bxLXaiWmFB4

Better save it...

[surf]

I know, supposedly his biggest concern was inflation.

i saw the SF Fed president speak in '02, and his biggest concern (mirroring the Fed and Wall St. "economists") was "deflation," as if that's a bad thing.

i didn't get called on, but was going to ask why they do not see lower prices as a sign of more efficient means of production - i.e. maturation

[madcat033]

I wrote this to email to all my friends and family... it's a bit rusty but i had to write it quick cos i have a midterm in 40 minutes! But feel free to email it to all your friends and family and potential RP supporters. They need to understand this.





From http://news.yahoo.com/s/ap/20071101/ap_on_bi_ge/fed_markets

WASHINGTON - The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, the largest cash infusion since September 2001, to help companies get through a credit crunch.


Creating new money causes inflation. You increase the money supply, you decrease the amount everyone's money is worth. So today, the US Dollar just got a lot more worthless. Ben Bernanke printed $41 billion to help bail out PRIVATE INVESTORS who make poor decisions. Of course, those of us with loans or credit card debt don't get any help, but high profile investors and companies are getting bailed out for jumping on the housing bubble.

Anyways, the current required reserve ratio for banks is 10%. What does that mean? It means that banks are only required to keep 10% of their deposits and they can loan out the rest. Therefore, the actual amount of extra money added to the economy is MUCH more than $41 billion. The money multiplier is the inverse of the required reserve ratio. Therefore, $410 billion dollars was taken from everyone in America, and given to wall street today.

It's essentially a tax, taking money from everyone who has or is paid in US Dollars. All of our money is now worth a little less, and that total value taken from us was given to these wealthy investors and companies. It is a transfer of wealth from everyone to wall street. Democrats always claim to be "for the middle class and against the rich," yet none of them speak up when $410 billion is transferred FROM the middle class to the wealthy. We don't get bailed out on our dumb investments, but the wealthy do.

This is essentially taxation without representation. Sound familiar? We fought the british for this very reason, yet allowing the federal reserve to print money at will is taxation without representation. Inflation is a tax. It reduces the value of our money, therefore reducing our wealth, and transfers it to the recipients of this created money. They essentially have free reign to take as much of your money as they want, bypassing all elected representatives and the will of the people. Remember Russia during the 90s? The government printed a ton of money to pay off their debts, the ruble was worthless, people's entire life's savings GONE instantly. Think about it for what it is... the government essentially went and took people's money, just like a tax but without all the troublesome democratic procedures...

QUICK FACTS:

"The Fed" is not actually part of the federal government. It is run by private banks and only has to give an annual report to the speaker of the house. "Meetings of some components of the Fed are held behind closed doors, and the transcripts are released with a lag of five years. Even expert policy analysts are unsure about the logic behind Fed decisions." They meet in secret and they are free to do whatever they want with our money.

Alan Greenspan was originally a proponent of hard money (gold-backed money)... that is, until he became chairman of the fed.

[rgampell]

OK, this is the third time I've posted this in one form or another, but, PLEASE, the Fed Open Market Committee did NOT pump $41B today. The Committee simply rolled over most of the repos that were being withdrawn today ($42.5B worth). Now, it's quite true what Dr. Paul says about the Fed and other money-creators worldwide (not all of them banks) transferring wealth from the poor and middle class to the wealthy investor class. It's just that today's FOMC action was NOT part of the problem, and I think it smacks of "a little knowledge is a dangerous thing" if we go around emailing something like this.

-- Rich

[me3]

Search is our friend.

http://www.ronpaulforums.com/showthread.php?t=30596

And I think both threads might be better served in Hot Topics.

[Stealth4]

OK, this is the third time I've posted this in one form or another, but, PLEASE, the Fed Open Market Committee did NOT pump $41B today. The Committee simply rolled over most of the repos that were being withdrawn today ($42.5B worth). Now, it's quite true what Dr. Paul says about the Fed and other money-creators worldwide (not all of them banks) transferring wealth from the poor and middle class to the wealthy investor class. It's just that today's FOMC action was NOT part of the problem, and I think it smacks of "a little knowledge is a dangerous thing" if we go around emailing something like this.

-- Rich

I learned this too from another blog after I posted the AP article. Seems the writer of that article didnt do all their homework and somewhat sensationalized something that isnt abnormal.

[Question_Authority]

OK, this is the third time I've posted this in one form or another, but, PLEASE, the Fed Open Market Committee did NOT pump $41B today. The Committee simply rolled over most of the repos that were being withdrawn today ($42.5B worth). Now, it's quite true what Dr. Paul says about the Fed and other money-creators worldwide (not all of them banks) transferring wealth from the poor and middle class to the wealthy investor class. It's just that today's FOMC action was NOT part of the problem, and I think it smacks of "a little knowledge is a dangerous thing" if we go around emailing something like this.

-- Rich

So the economics writer at yahoo was wrong. Not madcat.

[rgampell]

As a financial guy, I can tell you that the MSM does a LOT worse with financial stuff than they do with politics, and that's saying something! ;)

[freelance]

This isn't a "conspiracy," it's the reason we took out Saddam (he had started to sell in Euros) and the reason Cheney is trying to gin up a war against Ahmedinejad (he's selling in yen to the Japanese, yuan to the Chinese, and Euros to everyone else).

The petrodollar is crumbling, just look at the dollar index, down to 76 and change today. That's why you have your money backed by assets and not just what's been backing ours, 1) the ability of the us fed gov to tax its citizens and 2) that we forced all countries in the world to buy and sell their oil in dollars, artificially inflating its value.

Notice how none of the myriad reasons they gave for hitting Iraq made sense, and neither do any of the ones they're giving for invading Iran? Selling oil in non-dollar currencies, that's the real "crime" of Saddam and Ahmedinejad.

First thing we did after kicking Saddam out of power? Switch Iraqi oil sales from euros back to dollars. Very "Goodfellas"-like.

Disgusting.

PS -- Russia is about to start selling in rubles and euros, and we can't attack them...

Also, isn't it interesting that neither Iraq nor Iran were part of the whole central banking scam? Oh yeah, and neither is North Korea, Cuba or Venezuela.

[constituent]

good riddance to bad rubbish.

[michaelwise]

Ok this got me started. The Fed funds rates have been at historically low levels for many years now. Those SOB's should raise the rates to a level that defends the dollar, and just let those f* ers on Wall Street fail, for being such poor gamblers.

But I really don't want them to stop what they are doing. You see, they are making more and more people angry at what they are doing. I watch the market every day, and lately I see Godzilla in the room. He's been standing there for some time now, off in the corner. He's starting to move toward the center of the room now, and people know he's there, but they just keep going on as if he will not be a problem. Pay no attention to the monster in the room.

I've been watching the price of oil, gas, natural gas, gold, and silver soar, the dollar plunge, and the stock market behaves normally. Until something like today happens, and it's been happening regularly from time to time, and will continue to happen many more times. By the fed doing what it's doing, it is simply making matters worse. I want the fed to keep doing what they are doing, making it so bad, that when it blows up on them, the monster Godzilla stomps their f* ing brains out forever. And it will blow up before the general election. Mark my words.