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Board 8 > So I guess Ulti was right about the Fed giving away trillions to foreign banks?

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Blairville
07/26/11 8:57:00 PM
#1:


Ulti was right

yep

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#2
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#3
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Biolizard28
07/26/11 8:58:00 PM
#4:


Rebellion?

Rebellion.

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_stingers_
07/26/11 8:58:00 PM
#5:


wat

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Iamdead7
07/26/11 8:58:00 PM
#6:


god dammit we are just so goddamn screwed

edit with link: http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/

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Jeff Zero
07/26/11 9:01:00 PM
#7:


The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions between Dec. 1, 2007 and July 21, 2010, according to figures produced by the government's first-ever audit of the central bank.

Last year, the gross domestic product of the entire U.S. economy was $14.5 trillion.

...Wow.

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#8
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Iamdead7
07/26/11 9:02:00 PM
#9:


I'm pretty much a conspiracy theorist at this point and I feel awful about it

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Biolizard28
07/26/11 9:03:00 PM
#10:


http://www.thedailyshow.com/watch/mon-july-25-2011/armadebtdon-2011---nonfiction-captain-america

Skip to 4:32 for a summary of how I'm feeling about this country right now.

In fact, don't, watch the whole thing. Stewart deserves it.

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red sox 777
07/26/11 9:09:00 PM
#11:


Well, how much was paid back? If they got $16 trillion back, it wouldn't mean anything.

I mean, I'm guessing they loaned out, say, $3 trillion first, got most of it back, then loaned out the next $2 trillion, and so on, so we're only running a net loss of a couple trillion, and eventually, zero. The Fed never had $16 trillion on hand to just give away like that, so it couldn't have actually lost that much.

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LOLContests
07/26/11 9:13:00 PM
#12:


While the Fed needs to have better standards to avoid conflict of interests, making it more controlled by Congress or the President is not the answer. The whole point of the Fed is that it is supposed to be independent of politics.

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Called_It
07/26/11 9:14:00 PM
#13:


Called it.
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red sox 777
07/26/11 9:15:00 PM
#14:


Indeed, looking through the beginning of the report, it seems the Fed never had more than $1 trillion outstanding in emergency loans at any time. So, it seems things are fine, and saying the Fed loaned out $16 trillion is kind of like saying a day trader bought $10 million in stocks in a year because he bought and later sold $50,000 worth of stocks every day.

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Iamdead7
07/26/11 9:15:00 PM
#15:


From: LOLContests | #052
While the Fed needs to have better standards to avoid conflict of interests, making it more controlled by Congress or the President is not the answer. The whole point of the Fed is that it is supposed to be independent of politics.


But then it will still do s*** like this cause people are greedy f***s

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OInsaneOne32
07/26/11 9:17:00 PM
#16:


Unrelated to all of this, the Fabio old spice commercial that preceded my Daily Show watching was beyond horrible.

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LOLContests
07/26/11 9:19:00 PM
#17:


But then it will still do s*** like this cause people are greedy f***s

Then Congress/the President need to appoint better leadership to the Fed, and put in place standards about conflicts of interest.

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Iamdead7
07/26/11 9:20:00 PM
#18:


They're terrible on purpose

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Biolizard28
07/26/11 9:21:00 PM
#19:


Iamdead7 posted...
They're terrible on purpose

Government or Fabio?

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OInsaneOne32
07/26/11 9:22:00 PM
#20:


Probably both

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OmarsComin
07/26/11 9:24:00 PM
#21:


are we ignoring red sox posts? his explanation seems pretty reasonable to me.
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Suprak the Stud
07/26/11 9:26:00 PM
#22:


Jesus is red sox the only other guy reading here?

It isn't like the Fed is just throwing out our money and laughing maniacally from a dark room.

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AlecTrevelyan006
07/26/11 9:26:00 PM
#23:


So, these loans got paid back, right? Usually with interest. That isn't really "giving away". In fact, they generated more revenue for the government that wasn't through taxes. So... stabilizing the economy, and making a net profit.

Where is the bad part here? You wouldn't get mad at your bank because "They gave away the money in our bank accounts!" if the bank made loans (non-sub prime loans at least) that got paid back, and which allow for the interest on your account.

Of course, the conflict of interest in deciding WHO to give the money to and such are more controversial, but that doesn't seem to be what the topic title is addressing.

But regardless, this doesn't seem to be good evidence of big evil stealing our money and freedom government, regardless of whether that is true.

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Biolizard28
07/26/11 9:27:00 PM
#24:


There are a million and one reasons to be pissed at the government right now. I don't have to read ****.

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Xiahou Shake
07/26/11 9:27:00 PM
#25:


From: Suprak the Stud | #022
Jesus is red sox the only other guy reading here?

It isn't like the Fed is just throwing out our money and laughing maniacally from a dark room.


Reading and responding rationally isn't cool, it's way more fun to make insane claims and imagine fat men with moustaches in shadowy avenues laughing at everyone.

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Iamdead7
07/26/11 9:27:00 PM
#26:


I remember reading somewhere that the loans had almost 0% interest but I never saw a concrete source to back that up so it might not be true

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Emporer_Kazbar
07/26/11 9:30:00 PM
#27:


From: AlecTrevelyan006 | #023
But regardless, this doesn't seem to be good evidence of big evil stealing our money and freedom government, regardless of whether that is true.


It's a good thing, too; if The Undertaker starts stealing our money, there's no way we'll get it back.

So many Tombstone Piledrivers...

Edit: Also, going along with this joke, his 2003 theme fits quite well:

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The Real Truth
07/26/11 9:30:00 PM
#28:


Let the chaos ensue.

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charmander6000
07/26/11 9:32:00 PM
#29:


So far the topic has gone from ulti is a conspiracy theorist to ulti is right to ulti is a conspiracy theorist.

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OInsaneOne32
07/26/11 9:35:00 PM
#30:


From: charmander6000 | #029
So far the topic has gone from ulti is a conspiracy theorist to ulti is right to ulti is a conspiracy theorist.


I believe that's why life is described as a circle.

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AlecTrevelyan006
07/26/11 9:37:00 PM
#31:


From: Iamdead7 | #026
I remember reading somewhere that the loans had almost 0% interest but I never saw a concrete source to back that up so it might not be true


Your savings account has a near-0% interest rate. It still makes money.

So we got the money back, and made a profit.

Seriously, with all the stuff that is wrong, why are you complaining about this.

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LOLContests
07/26/11 9:45:00 PM
#32:


I read the article!

"You guys don't understand. Your money's not here. It's in Steve's house and Bill's house."

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red sox 777
07/26/11 9:47:00 PM
#33:


The news article is pretty bad, one-sided, reporting. The actual audit report is way too long to read, but fortunately you only have to get to the first few pages to find out important facts about what the Fed was actually doing.

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#34
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neonreaper888
07/27/11 5:14:00 AM
#35:


it's a big deal for conspiracy sensationalists but it's not really a big deal for anyone else. "give away" LOL

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nintendogirl1
07/27/11 5:27:00 AM
#36:


From: UltimaterializerX | #034
"We" do not get the money back, the federal reserve does. And the federal reserve having that name is a psi-op, since it is not a federal body. It is a private company.

So a private company lent other countries 16 trillion dollars and then got it back with a profit. That matters even less.

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PrinceReva
07/27/11 6:01:00 AM
#37:


Who here has watched Zeitgeist? Anyone? Just me?

They tell you how this whole thing works, how it's all supposed to go this way, and how we're all boned in the end.

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Theon_Greyjoy
07/27/11 6:36:00 AM
#38:


I don't see what the big deal is....we take and give out loans all the time.

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Iamdead7
07/27/11 8:56:00 AM
#39:


From: nintendogirl1 | #156
So a private company lent other countries 16 trillion dollars and then got it back with a profit. That matters even less.


They did do it by creating money out of thin air, but if its true that they only did 1 trillion at a time, its not nearly as terrible.

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CeraSeptem
07/27/11 9:18:00 AM
#40:


The fed sucking isn't really a conspiracy theory or surprising.

no wate I mean THIS IS A ****ING OUTRAGE **** THE NON-GOVERNMENT BANK

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red sox 777
07/27/11 9:19:00 AM
#41:


Well, there's nothing wrong with creating money out of thin air as long as it is returned to thin air, which in this case, seems to have happened as our inflation rate has stayed low. Though I agree that the US Government and Federal Reserve has engaged in a massive, government-mandated, exercise in trickle-down economics since 2008. This isn't like Reagan where we just cut taxes and supported a free market- we're now actively giving money to the richest corporations so that they can pump it into the rest of the economy, which is also not a free market policy.

As for the Fed, it's already a quasi-government entity, so why not drop the pretense and just call it the Bank of the United States?

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Iamdead7
07/27/11 11:32:00 AM
#42:


Cause theres already a bank called US Bank >_>

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#43
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AlecTrevelyan006
07/27/11 3:12:00 PM
#44:


Zeitgeist...

Well, at least you're not pointing to Loose Change, the Dane Cook of conspiracy theory vids.

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BoshStrikesBack
07/27/11 3:25:00 PM
#45:


There are more documentaries out there than just Zeitgeist if you want to know how the fed works, but yeah that's a good starting point.

Ulti, I want to take you seriously on political matters. I really do.

Anyway, if this information is startling to you, then you haven't been keeping up with global economics for very long. Fed can and does do this sort of thing all the time.

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BoshStrikesBack
07/27/11 3:26:00 PM
#46:


Indeed, looking through the beginning of the report, it seems the Fed never had more than $1 trillion outstanding in emergency loans at any time. So, it seems things are fine, and saying the Fed loaned out $16 trillion is kind of like saying a day trader bought $10 million in stocks in a year because he bought and later sold $50,000 worth of stocks every day.

GOD STOP BEING REASONABLE RED SOX

CAN'T YOU SEE IT'S ALL ABOUT BIG MONEY AND OIL AND CORRUPTION

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Andel
07/27/11 9:11:00 PM
#47:


the fed reserve is an illegal institution that does rob america through fraud. they print currency that is backed by nothing, and they operate an unconstitutional organization that only profits the politicians and social elites.

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