Well, actually I would like to see the FED go away. I thought Ron Paul had it right on that score. We just keep piling on the regulations much like a doctor who gives his patient another medicine for the side effects the first medicine produced.
Nationalization of the banks and financial system was the plan all along. The only thing left to go is industry, aka the means of production, aka the next bailout. Hmmm, the government owns and controls the "money" and the means of production, and then...us! It's called "communism". Nice. Best always. PM
Yeah, the Sheeple applauded the new 100% backstop. What they'll soon realize is that their banking system is now de facto nationalized. Careful what you wish for, right :-)
What really angers me is that rich, politically connected crooks, thieves and traders rarely go to jail and are "bailed out" by the government for their misdeeds. But the poor, ignored victims of their actions get screwed with no help at all, and as noted by Bill, paying for the bailout via taxes or inflation! I wish I knew what we can do about it, short of a revolution/revolt by the people, but I do know that we can protect ourselves as much as possible by listening to folks like BPR and taking the necessary action.
Mr. Matlock. I feel the same as you. I think our best chance to escape this hell is a bankrupt government. When the Medicare, Social Security, and all pensions are worthless through the morning printing, there will be change. In the last depression, I think about 80% of the people lived on farms. Chickens, goats, gardens, etc. Now we have people who would not know how to germinate a seed or start a lawnmower. I hope for the best, but I am prepared for the worst.
Yes Bill and Joel, The Fed, lets keep our focus on the Fed, who is controlled by who? Banks? Who are controlled by who? I don't know, but I think that they Control our Government and the more Woke(China controlled propaganda) a bank/business is, the more corrupt/China influenced they are.
It really doesn't matter what we Think is happening, because it is, but the real question is How do we stop it...
How do we stop this insane takeover of America? If the fact is, whoever controls the currency of a nation, controls the nation, well it seems pretty obvious what we need to do.
Starting Monday, make sure you're 100% in cash(out of the market). Ask everyone you know to go online, or to your bank, and take all of your money out of our corrupt banks(JPM, WFC, BAC, ETC...) and place that cash in Gold(ASAP):)
Then we all sit back and watch the market/corrupt world exchange, melt down...hopefully from a wonderful Bolthole that our precious host have been promoting over the past couple of years:)
Steve. On the 202 acre family compound there will be six of us in three different houses. When we get all expected refugees are we should number approximately 25. Much agreed Steve strength in numbers.
Steve. I hope and pray I am wrong. This country is essentially bankrupt. When the dollar does crash along with the stock market, I just see bad things happening. Again, hope and pray I am wrong!
Perfect opportunity to get digital currency into the equation I reckon, solves the nasty problem of having to raise taxes the old fashioned way to pay for all their f....ups. Boy, we are all well and truly screwed - but most of Bill's readers knew that already.
Maybe ,if the everything bubble blows this country to pieces,and we land hard on ground zero, we will have firm ground to build it back with principle , ethics, morals, pride and a basic Constitution and Bill of rights.The sleezebags have heard their way,and now they can enjoy their ill-gotten profits.I agree with Ellen,its time to listen to Ron Paul and get rid of the Federal reserve.
The "shame" here is that in only one and a half generations we have gone from the dollar being attached to goods and services (manufacturing) to manipulation and derivatives (trading). Thanks Mark Hoffman for the 1Q23 trading view chart!
Fact has nothing to do with party, but if you must know, independent. so perhaps get off your democracy kick and realize we live in a constitutional republic, where at one time all opinion were welcome not just the party line. Pravda still exists only moved offices to NYC.
"The 2008 bank bailout, TARP, cost $500 billion." It should be noted that the government recouped from the banks the $500 billion of Troubled Asset Relief Program (TARP) funds (with a small profit being made) used for the bailout.
Maximum Safety Mode is indeed the mantra! I do feel compelled to point out that the Trump administration gutted the reforms made by Elizabeth Warren and Barney Frank.
My brother-in-law was the chairman of the board for a small, local bank when Dodd-Frank became law. He told me that the cost and effort to implement the Dodd-Frank "reforms" almost put his bank out of business. No way could his bank decipher the maze of new rules in-house, they had to hire an expensive consultant firm. Still, they ended up having to merge with another local bank (and later with a regional bank) to survive. The good things about a local bank (customer service , etc.) went to hell.
It HAD to be Trump's fault. Whoever else's fault could it POSSIBLY be for Heaven's sake?
Gutted, you say? Sounds 𝘃𝗲𝗿𝘆 much like a CNN/MSNBC chevron. If you dare - take a look into the actual regulations his administration "rolled" back. Not gonna try to educate anyone with even a mild(?) case of TDS, but, Pssssst - the regulations "rolled" back wouldn't have prevented what we saw with SVB and what we are seeing unfold now. The specifics were not pertinent, at all, to the current circus sideshow. Your tv is lying to you. Again.
A Star. I think I read Trump rolled back 17 regulations for every new one he’s allowed to go on. This country is regulated to death, it is crazy. When I read the thing about Trump, I did not believe it. He was so pro business.
I have read similar facts about DjT and staff de-regulating everything they could. He made a lot of bonehead mistakes IMO (like trusting many of the WRONG people & spending like a drunk sailor on leave), but his dereg regime alone makes him worth the price of admission.
I saw O'Leary's comments this morning...it seemed as if he was endorsing national banks (or BANK), over regional banks...much easier to control 4 banks rather than maverick locals who only have their customer's interests at heart. God forbid we have any financial independents! Thank goodness Joe & Janet say we're all safe! YIKES
As long as your conclusion following that statement is not that if we just had better regulation from one politician or another this would never happen
Well, Starboard Edge, you would actually be wrong on your assumption of my intent. Thought I was just setting the record straight. A lot that we say is interpreted by the beholder. We all live somewhat inside our own prejudices.
I agree 100% and always appreciate new facts, data or evidence that will set a record straight when I am wrong on something. If I have misinterpreted your intent, I apologize - I can only respond based on the words placed in front of me. And yes, I interpret those words through the lense of my own biases.
"We all live somewhat inside our own prejudices."
Truer words were never spoken. However - some of us, even many of us, REALIZE that fact and are willing to adjust our attitudes and assumptions when presented with new, valid information. My point here would be that those individuals are few and far between when one considers the left, dimocrats and/or TrumpHaters.
I like you already Ms. Ellen. I hope you hang around awhile and NEVER take anything here personally...
you left out the FACT that those reforms would have prevented absolutely none of this from occurring - so there you go Trumps fault, not the thieve in chief, the TIC, just like on, sucking the blood out of all of us, even you Trump haters...
Bless you! I’m an equal opportunity hater, not a Trump hater, but I see how some of you would assume that. I wish the world were different but we have what we have and must deal with it!
All those Fed agencies that supervise banks & trading must still be in that same meeting! no doubt arguing (negotiating) the shape & size of the conference table, & if there is diverse enough quorum to hold the meeting...all with the little guys & our money as a priority. YIKES
Let the ‘’Magic Elixir’’ flow. Need some Mo to stock up on Mo Gold & Tequila Anejo, don’t you know. And why not some great BA steak & Malbec too. Just one more ride before the Damn Deciiders role out the CBDC.
Fibs, bald-faced lies, and statistics. (Mark Twain)
Am I the only person who finds it impossible to think with 12 and 13 digit statistics?
$124 billion (12 digits, 9 zeroes)
$500 billion
$4 trillion (12 zeroes)
It takes 5 minutes of processing to make that real. Like how much of the average middle class household's weekly income that represents? Half an hour? 3 days work?
We know where the money is going: to Robber Barons, the Filthy Riche.
But what does that actually take out of the average, middle-class bloke's pocket? More than he spends on lottery tickets at 7-11 each week? A half tank of gasoline? Electricity or groceries for a week?
The big numbers are disturbing, but more irritant than education. Please bring it down to the individual or household level.
Well, actually I would like to see the FED go away. I thought Ron Paul had it right on that score. We just keep piling on the regulations much like a doctor who gives his patient another medicine for the side effects the first medicine produced.
Fed is a criminal enterprise.
Liked your comment.
Nationalization of the banks and financial system was the plan all along. The only thing left to go is industry, aka the means of production, aka the next bailout. Hmmm, the government owns and controls the "money" and the means of production, and then...us! It's called "communism". Nice. Best always. PM
Yeah, the Sheeple applauded the new 100% backstop. What they'll soon realize is that their banking system is now de facto nationalized. Careful what you wish for, right :-)
What has happened to our country? Run by crooks, thieves and traders (Traitors). What do we do about it? What can we do about it?
What really angers me is that rich, politically connected crooks, thieves and traders rarely go to jail and are "bailed out" by the government for their misdeeds. But the poor, ignored victims of their actions get screwed with no help at all, and as noted by Bill, paying for the bailout via taxes or inflation! I wish I knew what we can do about it, short of a revolution/revolt by the people, but I do know that we can protect ourselves as much as possible by listening to folks like BPR and taking the necessary action.
Mr. Matlock. I feel the same as you. I think our best chance to escape this hell is a bankrupt government. When the Medicare, Social Security, and all pensions are worthless through the morning printing, there will be change. In the last depression, I think about 80% of the people lived on farms. Chickens, goats, gardens, etc. Now we have people who would not know how to germinate a seed or start a lawnmower. I hope for the best, but I am prepared for the worst.
Yes Bill and Joel, The Fed, lets keep our focus on the Fed, who is controlled by who? Banks? Who are controlled by who? I don't know, but I think that they Control our Government and the more Woke(China controlled propaganda) a bank/business is, the more corrupt/China influenced they are.
It really doesn't matter what we Think is happening, because it is, but the real question is How do we stop it...
How do we stop this insane takeover of America? If the fact is, whoever controls the currency of a nation, controls the nation, well it seems pretty obvious what we need to do.
Starting Monday, make sure you're 100% in cash(out of the market). Ask everyone you know to go online, or to your bank, and take all of your money out of our corrupt banks(JPM, WFC, BAC, ETC...) and place that cash in Gold(ASAP):)
Then we all sit back and watch the market/corrupt world exchange, melt down...hopefully from a wonderful Bolthole that our precious host have been promoting over the past couple of years:)
Enjoy the show!
Hey Steve, a show it will be! Just hoping to get me and mine on the right side of the dirt when it’s over.
Yes my brother, when it’s time I hope to be at least close to good company like yourself! Strength in numbers 🇺🇸
Steve. On the 202 acre family compound there will be six of us in three different houses. When we get all expected refugees are we should number approximately 25. Much agreed Steve strength in numbers.
Beautiful plan, and I pray we never get to that point, but always better to plan out your future 😊…🇺🇸🇺🇸🇺🇸
Steve. I hope and pray I am wrong. This country is essentially bankrupt. When the dollar does crash along with the stock market, I just see bad things happening. Again, hope and pray I am wrong!
Perfect opportunity to get digital currency into the equation I reckon, solves the nasty problem of having to raise taxes the old fashioned way to pay for all their f....ups. Boy, we are all well and truly screwed - but most of Bill's readers knew that already.
"In the case at hand, the feds now say the bank’s wealthy shareholders will lose"
My understanding is that some large pension funds had a few shares. How long will it be before the pensions are claiming they need to be made whole!
Maybe ,if the everything bubble blows this country to pieces,and we land hard on ground zero, we will have firm ground to build it back with principle , ethics, morals, pride and a basic Constitution and Bill of rights.The sleezebags have heard their way,and now they can enjoy their ill-gotten profits.I agree with Ellen,its time to listen to Ron Paul and get rid of the Federal reserve.
Hey Richard. If only! Those pigs need to go. They have been at the trough for over 100 years. End the fed.
The "shame" here is that in only one and a half generations we have gone from the dollar being attached to goods and services (manufacturing) to manipulation and derivatives (trading). Thanks Mark Hoffman for the 1Q23 trading view chart!
Joe Biden, Thief-In-Chief (TIC)
TIC - A blood sucking parasite
Ah, another Republican. Welcome. You have a lot of company on this site.
Fact has nothing to do with party, but if you must know, independent. so perhaps get off your democracy kick and realize we live in a constitutional republic, where at one time all opinion were welcome not just the party line. Pravda still exists only moved offices to NYC.
Now I understand the country is never "going back" to some preferred previous circumstances. It's all entropy from now on.
"The 2008 bank bailout, TARP, cost $500 billion." It should be noted that the government recouped from the banks the $500 billion of Troubled Asset Relief Program (TARP) funds (with a small profit being made) used for the bailout.
Maximum Safety Mode is indeed the mantra! I do feel compelled to point out that the Trump administration gutted the reforms made by Elizabeth Warren and Barney Frank.
My brother-in-law was the chairman of the board for a small, local bank when Dodd-Frank became law. He told me that the cost and effort to implement the Dodd-Frank "reforms" almost put his bank out of business. No way could his bank decipher the maze of new rules in-house, they had to hire an expensive consultant firm. Still, they ended up having to merge with another local bank (and later with a regional bank) to survive. The good things about a local bank (customer service , etc.) went to hell.
Thank you, Tim, for your information and insight. So much we think we know is incomplete!
Hi Ellen -
I KNEW it!!
It HAD to be Trump's fault. Whoever else's fault could it POSSIBLY be for Heaven's sake?
Gutted, you say? Sounds 𝘃𝗲𝗿𝘆 much like a CNN/MSNBC chevron. If you dare - take a look into the actual regulations his administration "rolled" back. Not gonna try to educate anyone with even a mild(?) case of TDS, but, Pssssst - the regulations "rolled" back wouldn't have prevented what we saw with SVB and what we are seeing unfold now. The specifics were not pertinent, at all, to the current circus sideshow. Your tv is lying to you. Again.
All the best ma'am...
A Star. I think I read Trump rolled back 17 regulations for every new one he’s allowed to go on. This country is regulated to death, it is crazy. When I read the thing about Trump, I did not believe it. He was so pro business.
Hi Worm -
I have read similar facts about DjT and staff de-regulating everything they could. He made a lot of bonehead mistakes IMO (like trusting many of the WRONG people & spending like a drunk sailor on leave), but his dereg regime alone makes him worth the price of admission.
Perhaps...
Hilarious, then again, maybe ignorance is bliss. I'm thinking Ellen is the new Dorothy?
Hi Dave -
I dunno, maybe. She seems a bit more self-aware.
PS - I do miss my near-daily dose 'o Dotty...
DJ/SE: Now would I desert you? Of course not. You know that ignorance is bliss goes both ways. Maybe your TV is lying to you,
Just a thought. Have a good weekend both of you.
I saw O'Leary's comments this morning...it seemed as if he was endorsing national banks (or BANK), over regional banks...much easier to control 4 banks rather than maverick locals who only have their customer's interests at heart. God forbid we have any financial independents! Thank goodness Joe & Janet say we're all safe! YIKES
As long as your conclusion following that statement is not that if we just had better regulation from one politician or another this would never happen
Hi Marcus -
I highly doubt that was Ms. Ellen's point. Like so many others, it's all about getting their Trumphate on, facts be damned...
Well, Starboard Edge, you would actually be wrong on your assumption of my intent. Thought I was just setting the record straight. A lot that we say is interpreted by the beholder. We all live somewhat inside our own prejudices.
Hi Ellen -
I agree 100% and always appreciate new facts, data or evidence that will set a record straight when I am wrong on something. If I have misinterpreted your intent, I apologize - I can only respond based on the words placed in front of me. And yes, I interpret those words through the lense of my own biases.
"We all live somewhat inside our own prejudices."
Truer words were never spoken. However - some of us, even many of us, REALIZE that fact and are willing to adjust our attitudes and assumptions when presented with new, valid information. My point here would be that those individuals are few and far between when one considers the left, dimocrats and/or TrumpHaters.
I like you already Ms. Ellen. I hope you hang around awhile and NEVER take anything here personally...
you left out the FACT that those reforms would have prevented absolutely none of this from occurring - so there you go Trumps fault, not the thieve in chief, the TIC, just like on, sucking the blood out of all of us, even you Trump haters...
Bless you! I’m an equal opportunity hater, not a Trump hater, but I see how some of you would assume that. I wish the world were different but we have what we have and must deal with it!
Hi Ellen -
IMO there are PLENTY of individuals worthy of our hate and loathing on BOTH sides...
All those Fed agencies that supervise banks & trading must still be in that same meeting! no doubt arguing (negotiating) the shape & size of the conference table, & if there is diverse enough quorum to hold the meeting...all with the little guys & our money as a priority. YIKES
Let the ‘’Magic Elixir’’ flow. Need some Mo to stock up on Mo Gold & Tequila Anejo, don’t you know. And why not some great BA steak & Malbec too. Just one more ride before the Damn Deciiders role out the CBDC.
Fibs, bald-faced lies, and statistics. (Mark Twain)
Am I the only person who finds it impossible to think with 12 and 13 digit statistics?
$124 billion (12 digits, 9 zeroes)
$500 billion
$4 trillion (12 zeroes)
It takes 5 minutes of processing to make that real. Like how much of the average middle class household's weekly income that represents? Half an hour? 3 days work?
We know where the money is going: to Robber Barons, the Filthy Riche.
But what does that actually take out of the average, middle-class bloke's pocket? More than he spends on lottery tickets at 7-11 each week? A half tank of gasoline? Electricity or groceries for a week?
The big numbers are disturbing, but more irritant than education. Please bring it down to the individual or household level.
Thanks for all you do.
Worm Farmer, I agree it is just that.They have a plan and its not in our best interests.
Hey Craig. The American electorate is so dumb down. It is mind-boggling.
They will vote for any free stuff. Where could these fools think the money comes from knowing the government has no money!