Now the printing press is being warmed up ...

Discussion in 'Economy' started by gonegolfin, Sep 17, 2008.

  1. gonegolfin
    Offline

    gonegolfin Member

    Joined:
    Jul 8, 2005
    Messages:
    412
    Thanks Received:
    36
    Trophy Points:
    16
    Location:
    Austin, TX
    Ratings:
    +36
    The Treasury is using this new program to raise cash for the recently announced Fed initiatives. Originally I thought that the Fed may be buying these treasuries in an attempt to rebuild their treasury portfolio (which has been reduced to less than $500 billion due to its TSLF lending facility and the sterilization of various cash lending programs). The Treasury would then make the cash loans. But it is being announced as the Treasury selling the treasuries (more government debt) and providing the proceeds to the Fed. This will be interesting to watch as it is explained more fully.

    FT Alphaville » Blog Archive » The Fed’s run out of money

    And we have a flight to safety with Gold up over $88 (11.4%) and Silver up about $1.45 (13.8%).

    Brian
     
    Last edited: Sep 17, 2008
  2. gonegolfin
    Offline

    gonegolfin Member

    Joined:
    Jul 8, 2005
    Messages:
    412
    Thanks Received:
    36
    Trophy Points:
    16
    Location:
    Austin, TX
    Ratings:
    +36
    The Treasury sold $40 billion of 35-day bills today (at 0.30% yield) for the Fed and will sell $60 billion worth of bills in two auctions tomorrow, for a two-day total of $100 billion.

     
  3. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    ty Treasury and Fed---I wonder who is going to buy our debt ?
     
  4. CA95380
    Offline

    CA95380 USMB Member

    Joined:
    Jul 23, 2008
    Messages:
    2,779
    Thanks Received:
    186
    Trophy Points:
    48
    Location:
    Central California
    Ratings:
    +186
    You are.
     
  5. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    okie dokie---I'm going to have to through my loose change drawer tho...it could take a couple hours.
     
  6. CA95380
    Offline

    CA95380 USMB Member

    Joined:
    Jul 23, 2008
    Messages:
    2,779
    Thanks Received:
    186
    Trophy Points:
    48
    Location:
    Central California
    Ratings:
    +186
    Nah. Just call up your celebrity friends and let them raise money for you. :lol:
     
  7. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    naaaa-- i think they are all busy at a cow chip toss.
     
  8. Care4all
    Offline

    Care4all Warrior Princess Supporting Member

    Joined:
    Mar 24, 2007
    Messages:
    32,676
    Thanks Received:
    6,600
    Trophy Points:
    1,170
    Location:
    Maine
    Ratings:
    +11,023
    china, they own us now....

    and we are now a fascist gvt, and own our banks, our insurance companies, our airlines if we bail them and our automakers if the fed bails them?

    i never realized the treasury and fed had so much power and could make these kind of moves without congress?

    ARE they making these moves without congress?

    heard on lou dobbs that with all the bailouts and the proposed ones to come, this year alone, it puts an $800 billion dollar tax burden on to us....if these bailouts fail....?

    can someone please explain this to me at a kindergarten level, i truely don't understand any of it???

    care
     
  9. dilloduck
    Offline

    dilloduck Diamond Member

    Joined:
    May 8, 2004
    Messages:
    53,240
    Thanks Received:
    5,552
    Trophy Points:
    1,850
    Location:
    Austin, TX
    Ratings:
    +6,403
    No shit, sherlock ! :lol:
     
  10. gonegolfin
    Offline

    gonegolfin Member

    Joined:
    Jul 8, 2005
    Messages:
    412
    Thanks Received:
    36
    Trophy Points:
    16
    Location:
    Austin, TX
    Ratings:
    +36
    I am not jumping on you ... but it is amazing to me how clueless most everyone is with respect to our monetary system and the power and role of our Central Bank. And the fact that Congress is in bed with all of this.

    A good way to start understanding is to read this ... [ame=http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212]Amazon.com: The Creature from Jekyll Island : A Second Look at the Federal Reserve: G. Edward Griffin: Books[/ame]. It might sound dry, but it is not. It is actually a fascinating book on world history from a monetary perspective. I made my wife read it and she absolutely loved it.

    Brian
     
    • Thank You! Thank You! x 1
    Last edited: Sep 17, 2008

Share This Page