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Blunt Force Trauma

Has anyone else seen this story fom this past Saturday (26th)? Slipped under my radar....until now.

I thought the $630 Omnibus bill (last week) and the above Bloomberg story quoting the same amount for the "financial system" were bad enough. Has anyone got info on the latest military budget that was approved and that is reported to be 50% of the US GDP? But, until then, let's add to that; $940 billion more, shall we?

Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week

'U.S. banks borrowed $188 billion per day on average in the latest week from the Federal Reserve, meaning that the Fed loaned out more money than the Treasury’s proposed bailout in just one week, still barely managing to keep the economy afloat.'

-snip-

'$188 billion per day on average over the course of five days means that the total amount borrowed from the Fed in the week ending the 24th September stood at $940 billion - a figure that easily eclipses the proposed $700 billion bailout.'

So, while the thieves were dangling a carrot in front of our faces regarding a "bailout", ALL this other money was being shot out amongst the looters of the economy. The "bailout" is doing what it should be doing....distracting us from what is REALLY going on.

Full article here:

http://tinyurl.com/3ovrz2


Elaine Meinel Supkis

Good find, Blunt Force Trauma!

Yes, the window in the central bank here is about the size of an aircraft carrier! And no one is releasing any of the totals.

And this $630 billion is a magic number game. Everything is this amount, more or less. I heard that Congress wasn't giving the Fed $700 billion but $630 billion.

This number is a float, a swap, a deal! This is the same amount as the entire reserves of Europe. It is very queer. This is obviously a G7 game going on since the US has basically ceased being the world's monetary reserve.

This can't last more than a few months. Which is why I predict this will fail.

Then the Chinese will come along with their massive $1.6 trillion reserves and take over.

Blunt Force Trauma

I think I can top that, Elaine!

Check these out. I'm just spinning in my chair and sweating reading this stuff. All I can say is that the $700 billion "bailout" was designed to 'bait' and then 'switch'. A distraction from what has been REALLY happening.

We have the money

'On Wednesday, September 24, right in the middle of the fight over billions of taxpayer dollars slated to bail out Wall Street, the House of Representatives passed a $612 billion defense authorization bill for 2009 without a murmur of public protest or any meaningful press comment at all. (The New York Times gave the matter only three short paragraphs buried in a story about another appropriations measure.)'

Full article:

http://tinyurl.com/4gwqcf

President expected to sign bills totaling $1.334 trillion

http://tinyurl.com/3wy3t5

Blunt Force Trauma

Oh, and the DOW is currently down 500 points.

Blunt Force Trauma

U.S. House rejects $700-bln Wall St bailout bill

YEA! But it's still nothing compared to the trillions they have spent just last week alone!

WASHINGTON, Sept 29 (Reuters) - The U.S. House of Representatives on Monday rejected by a vote of 228-205 a Wall Street bailout bill that would have authorized the Treasury Department to spend up to $700 billion to purchase broken mortgage-backed bonds from banks with the goal of jump-starting stalled capital markets.

Defeated by skeptics from both parties who questioned the need for it and whether it would work, the bailout plan was proposed by the Bush administration on Sept. 20. Congress modified it in just days amid warnings from the White House that urgent action was needed to prevent economic disaster.

The DOW is at 10,653; down from 11160 at the open (down 507)

Blunt Force Trauma

DOW still sliding...down 561

TSX is down 865 points.

Oil is down 10 bucks to 96 bucks.

Gold is rising at $914.

CK

Bargain hunting time. Real bargains. Bargains in things that are useful and productive.

Blunt Force Trauma

Pelosi is about to yap on her failure...I'll quote live as she spews. Ha! Ha!

"The legislation has failed, the crisis is still with us"

"We know how important this was to the middle-class of this country"

"The lines of communication are still open"

"Action was necessary to stabilize the markets and protect the taxpayer"

"This wasn't our bill, it was the President's"

"We must work in a bi-partisan way"

Mr. Hoyer now....

"We had great reservations about the bill"

"I regret the bill didn't pass today"

Barney Frank now....

"We do have a serious crisis that could shut down the credit system"

"What we added to the bill was in no part the reason for the defeat"

"We understand that there will be economic pain"

"I'm ready to work - except Wednesday, it's Rosh Hashanah(sp?)"

"I'll make an offer. Give me those 12 people's names and I will be uncharacteristically nice to them"

Now Rham Emanuel....keep talking guys - DOW down 614 points...

"We would join hands and get this thing done"

"People meeting the challenge for their country"

Pelosi and Frank bantering now....Uggh. Enough.


Blunt Force Trauma

DOW just broke 10-4

10,497 or down 663

CEO Nutcracker

I think it's curtains for this place!

We're down 670 right now!

Do you speak Chinese?

CEO Nutcracker

No one ever mentions the many failed bailouts that began last summer in 07'. That had to add up to trillions as well.

WOW it is now over -700

Blunt Force Trauma

Yup, 690 to 10,464

Blunt Force Trauma

Cripes! Now down 728!

CEO Nutcracker

If the banks were not willing to loan to each other, why in the hell should 'main street' think their going to see a dime of any bailout. I am soooo grateful the the GOP! I never thought I'd say that!

CEO Nutcracker


Whoops! I meant, "TO the GOP!".

Carli

Time for these government people to start looking for a "real" solution. No Band Aid fixes. That's what they are being paid for. It's time they focused on their day jobs rather than on backroom deals that got things to where they are. Good luck everyone it's going to be a bumpy ride...

Bear, missed that Dark Bail Out video clip, I'm 12 hours ahead of NY so at times I am playing catch up.

Geez, Dow 714 pts. down this is a bloodbath. Looks like confidence is out the window, hell, out the main door!

CEO Nutcracker


Lady LIBRA is in the sky!!! Balance and Justice are coming on like a cat 5 hurricane!

Blunt Force Trauma

Slighty up to 10,471 (down 694) with 20 minutes to close.

CK

Mistsubishi just bought 21% of Morgan Stanley for 9 bill. Bargain hunting among the dross.

Blunt Force Trauma

Rally, rally, rally.

Now up to 10,565 (but still down 595 points).

Carli

Just a thought, what are the possibilities that this is a calibrated move by the Executive and Congress to shake the market to panic the public into accepting an even larger bailout package? The $1 Trillion - 5 Trillion numbers have been floating since last week. Any comments on this?? Or am I giving them too much credit?

Blunt Force Trauma

Not too far fetched, Carli. I imagine there will be greater tantrums by the bankers (and the Fed) tomorrow since they are not getting their way. But then again, they got enough last week; while we weren't looking.

Blunt Force Trauma

Start leveraging in China and India who are poised for growth(?). Maybe they'll locate their call centres over here when they start to 'take over' economically.

CEO Nutcracker

Carli,

Even worse, what about an October Suprise. I've heard that a financial crisis could be considered a national emergency. Maybe Bush will get another term like Roosevelt whose popularity in 38', was at an all time low.

Then, presto, WWII and the jerk got another term and
Wall St got their war.

Carli

Blunt, not likely, it's 4 Billion people to feed in Asia. And these are people tired of being poor and underprivileged. But look at the bright side of the equation, with all this turmoil there will be alot of change in ALL industries. Lots of buried tech will rise to the surface and create opportunity for everyone the world over. It's the status quo who will be dumped. Let them eat cake for a change.

Carli

S&P 500 down 7.3%, Nasdaq 6.8%, DOW 5.99%, over a $1 Trillion in vaporized equities. A lot of Epiphanies taking place today!

Carli

CEO as a participant in several failed coup attempts in my neck of the woods I have to say, that is not far fetched. I see the same signs and sounds that precede such events.

DeVaul

Tommorrow is the end of the fiscal year for the US government. I wonder what role that played in all of this?

Blunt Force Trauma

DOW's start for this week opened at 11,143.13 and closed down 748.21 points today to 10,394.92

Single largest point drop since Sept. 12th/01. Just over 6%. Or the largest point drop in history. Welcome to history.

And you know the severity is in the credit market anyway (Derivatives). This is a sideshow. But it is serious.

I wonder if Kunstler's vision of 8,000 will come true? This may be a sign of a trend toward that level.

Carli

BTW Blunt, India is cheap now, even their currency has weakened. The window of opportunity presents itself. Not for speculative play, but for medium and long term plays.

Blunt Force Trauma

The DOW's people are still tabulating. Probably in disbelief and so much selling going on, the number is STILL dropping.

DOW is down to 777.68

CEO Nutcracker


Above Carli posted:

"CEO as a participant in several failed coup attempts in my neck of the woods I have to say, that is not far fetched. I see the same signs and sounds that precede such events. "

Carli, which coup attempts and in what 'neck of the woods'? pray tell?!

You won't have to kill me if you tell me, will you? HaHaHa!

Elaine Meinel Supkis

All currencies are dropping against the dollar. This is because of the damn $630 billion bail out by our trade rivals!

Elaine Meinel Supkis

CEO, it was those damn CHICKEN COUPS. HAHAHA>

Blunt Force Trauma

Okay, the DOW seems to "holding" at 777.68 points down for this day.

CEO Nutcracker

Yah, Elaine,

I think so! We'll give Carli time to come up with something.

Thanks, Elaine for all you stand up for!

Did you see all the protester's they showed for 2 seconds on the news? They said calls were flooding in 300:1 as "NO"!

Blunt Force Trauma

DeVaul asked:

"Tommorrow is the end of the fiscal year for the US government. I wonder what role that played in all of this?"

I guess we'll try to answer that tomorrow afternoon. I expect to see the DOW move laterally and not rise much at all. But, I think it doesn't mean much - fiscal year end.... The DOW has lost large since October 2007 even after throwing trillions at it anyway. Some 3,800 points lost when it was 14,140 on or around Oct. 9/07. So, it hasn't been a good year at all. This one day won't matter. Neither will tomorrow's loss.

DeVaul

I guess I meant what role it played in the decision by the GOP reps to vote "no". Did they not want this to occur on their watch, or did they fear not being re-elected?

Or both?

Elaine Meinel Supkis

The GOP wanted DAMN TAX CUTS!!!! This is why they were against the damn bill, DeVaul.

CEO Nutcracker

I think they are genuinely frightened about handing another trillion dollars to criminals when our economy is very much in the tank. -JMHO

DeVaul

I know they wanted tax cuts (what GOP guy doesn't?), but were they not even remotely concerned about their masters on Wall Street who desperately wanted this bill?

I mean, there go their Xmas bonuses...among other things.

I actually get the impression that those GOP "no voters" actually represent someone other than Wall Street. Could this be?

CEO Nutcracker


The US Embassy in Brussels is being evacuated because of a bomb threat. This is where another bank just failed that was exposed to our toxic slime. You can bet we are not very popular anywhere right now. Thank you, Wall St.

Bear of Little Brain

My God, FTSE100 down 9.97% for the day on my chart, and it's off its low! The commuter lines will be looking like an abattoir.

Elaine Meinel Supkis

What, gnomes are threatening to bomb our embassy? Wow.

Bear, you know, if a market falls 10% a day, it will be penny stocks in about a month.

philossifur

Larouche has plan B. [+]

Bear of Little Brain

Wheat, corn, cotton all look like limit-down today. Copper, oil, hard down. Silver hanging in there and gold moving up. Looks like recession/depression is being baked in, the Rothschilds are not pleased with us unruly peasants.

Bear of Little Brain

Elaine:
"All currencies are dropping against the dollar."

Nope. Anything you can do, we can do better, tra-la.
£ down about 1.5% against the dollar today.

Simon

Problem with this bailout is the hijacking of entire world's economy by a few bankers in Wall St.
The 700 billion bailout does not feel like asking for a handout, but rather a stick-up.
If the stock market continue to fall the Reps voted against the bill could be labelled traitors, or worse. When faced with loss of life savings, people are not rational.
The battle is not over yet.

GK

Elaine, I am very interested in the $6 can of soup.

What brand was it? What store was selling it?

If they really are increasing the price of survival food by 600% that is the beginnings of an act of genocide.

http://edition.cnn.com/2008/WORLD/africa/09/29/Zimbabwe.banks.ap/index.html?iref=topnews

The limit and the fact that Zimbabwe has the highest inflation rate in the world -- officially at about 11.2 million percent, unofficially much higher -- has meant long lines at banks most days.

He called for the limit on bank withdrawals to be removed altogether, but central bank officials say that could spark a run on banks that would ultimately worsen the cash shortages.

On Saturday, central bank governor Gideon Gono vowed to keep printing money, a practice critics say has fueled inflation.

Carli

Sorry for the delayed answer CEO, I am 12 hours behind, and went to sleep right after posting my last thread.

I was talking about the Philippines in '87 & '89. And yes, it ended up pretty much like a chicken coup Elaine, thanks to a dimwit called Quayle who ordered an intervention of US fighters to attack us. Real ignorance in action there.

No worries, I will not have to kill you. I was investigated like many others, but was able to weather that storm. In the end I realized we were being used by US intel, which was protecting their "investment" Aquino, and who handle many leftist and rightist organizations the world over. And who really work for the corporate kleptocrats in the name of National interest. It was my Epiphany, so to speak.

I also had the advantage of having a world elite friend, who gave me the proper perspective. I learned the hidden history of many things. Have since changed how I read world events.

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