Global Meltdown

[smicky]

BUY BUY BUY!!!!

It'll be over before we know it....

True way to make money on the stock market... Simple as...

Buy low - sell HIGH!

common sense...

anyways, brain is going back into hibernation....

[Ford_Power]

Do you want someone who is in charge of the banking system not to have experience in the banking system?

The point is that Paulson had to gain experience somewhere, it just happen to be GS. It could have been Lehmans, Bank of America, Bear Sterns ect..

Personally I would have more of a problem if he worked at Bear Sterns or JP Morgan.

The $188bn is a big number & I would check that figure. I have never seen that figure before & I would definetly see something like that.

This has nothing to do with experience! Take the blinkers off! There is a MUCH bigger issue here!! Why do you think USA's top economists are against the bailout?? Just google "top economists against bailout" and see how many hits you get and have a read of why they are against it!

As for the Federal Reserve pumping $188 bn/week see link below. How could you not have seen this if you say you "would definitely see something like that"? It is published on many financial websites!!

http://www.reuters.com/article/ousiv/idUSTRE48O9B920080925

[hypnodoc]

I hope I am so wrong, because most of our assets and exports are now owned by the multi nationals caught up in this mess and their is no bank on earth that has any true interest in any lender that cannot pay. Every national economy on the planet is in the middle of the ocean in a 50 foot swell. The entire global monetary system has been in the control of private bankers since the end of the Gold Teir System. Sure life will go on, but nowhere near as luxuriously as what it has been. Until Governments take control back of the monetary systems and issuance we are going to remain at the mercy of greedy banking families. It is a GLOBAL System now, not a national one and it has been debt driven, not asset backed. There is nothing wrong with a debt system to ensure money supply and growth but it has been unchecked and un regulated and the Aus banks are in no better position than the US & UK banks we are just a few steps behind. If Hank Paulson and Co have their way and simply throw a trillion or so at the problem with the conditionality that the bill will give them (the private bankers) total undisputed control of the monetary system then we will all collapse. A 1 trillion dollar bailout of the US economy is akin to putting a band aid on a severed artery. Thank God some honest American pollies have let the public there know whats really going on, and hopefuly we might see some of these liars and thieves get their come uppance. The party is over and the house is burning down. Wise people are heading for the fire escape while the Governments and Bankers just keep turning up the music.

On an individual level, get out of debt as fast as you can. If you have shares hold onto them but don't hold your breath for any solid rebound of significance but I wouldn't be buying any more. I sat with an Ex director of the NAB and the ACCC 2 months ago and he was aghast when I said that Macquarie Bank was in trouble. This so called financial expert then told me sheepishly 3 weeks ago that his then 14 million dollar stock market kitty had evaporated down to 5 1/2 million, guess its OK if you can afford it but most people are struggling hard enough as it is and simply can't. I think we are still at the tip of the iceberg, and I can tell you they are going spare here in London, just like in the US, to the point where they are admitting now that they have no idea how many more banks are about to tip over

[Dagabond]

Oh OK then, but whos got any moolahs left

[hypnodoc]

Well Done Dags. Heres some more.

“Whoever controls the volume of money in any country is absolute master of all industry and commerce”. – James A. Garfield, 20th US President.

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance”. – James Madison, 4th US President.

“Banking establishments are more dangerous than standing armies”. – Thomas Jefferson.

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are now in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world, no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of this small group of dominant men.” – Woodrow Wilson, 28th US President a few years after he signed the 1913 US Federal Reserve Act, handing over the control of the money supply to private bankers.

“Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them but leave the power to create deposits and with the flick of a pen they will create enough deposits to buy it back again. However, take that power away from them and all great fortunes like mine will disappear, and they ought to disappear, for then this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create deposits.” – Sir Josiah Stamp, president of the Bank of England in the 1920s and then England’s second-richest man.

“This is a staggering thought. We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon.” – Robert H. Hemphill, credit manager of Federal Reserve Bank, Atlanta, USA.

Edited 01/10/08 11:28 AM by hypnodoc

[Dagabond]

If the Banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon.

Complete irony in that where the words come from....

The vast majority of the current/future recession is in the hands of those spreading the propaganda and those soaking it up...

[Ford_Power]

hypnodoc and anyone else who is interested.. look up the Glass-Steagall act, see why it was instituted, why it was abolished, and which greedy buggers abolished it...

Unfortunately, now we have to reap what we have sown.

I know you guys are all saying "just roll with it" etc etc, however it will affect each and every one of you... in the form of inflation, unemployment, etc. HOPEFULLY not to too much of a degree.

The USA is going down with OR WITHOUT the bill. All Paulson and Bernanke are doing are putting its citizens in a MASSIVE debt hole to the tune of +30k for each man, woman and child. Why not let the free market do what it has ALWAYS done and allowed natural attrition of the weaker entities? Why do the Taxpayers have to bail out the Wall St execs?? This is NOT a free market yet they say it is??

[dule]

All I know is that this sh*t will happen regardless of what we small ppl do or think. The important thing is how we deal with it, think about the best way to swim out the other end. There is always a possibility to profit, even in the sh*ttiest of situations.

I just feel really sorry for all those people who are close to retiring and their supper has been slashed without their any involvement. I mean I'm affected too but I only started working few years back so I don't loose as much.

[iTec]

Call it ignorant or whatever, but I'm with Dillz. I don't own a home and have no dependants (apart from tab and grudgee of course ) So I don't really feel as if there is a great deal that I can do to change, and there isn't going to be a major impact on my life (that I can control).

I say get on with your life, job whatever, you'll work it out if you aren't too stupid.

I'm with stupid!,

you know what makes me laugh is that not to long ago in a similar thread, I stated that I was happy not owninng a home and having 0 credit owing (no mortgage no credit cards.. nothing!). I said that the economy would fall out of the sky and house prices would come down. people called me an idiot, not in so many words but pretty close to... now those same people are spreading the doom and gloom that is to follow on from a few companies collapsing.

I am not in economics, I put pizzas on a table smile and say thanks, and even I could see from a mile away that things around the world were going to good. when everything just keep going up for 15 years then eventially sh*t is going to hit the fan and come tumbling back down... that is the one certainty in life

fortunatly for me, I have a dont give a f*ck attitude to the economists of the world. It is filled with people who are only looking out for there next big bonus, and not for the long term safety or security of there job let alone that of there employer and customers.

[hypnodoc]

Perhaps the way that Bush, Gordon Brown, and our own Krud and their untouchable cronies and the top bankers are insistant that the US taxpayer should bail out the global economy is because they are all tied into this

Or maybe history is repeating itself

Edited 02/10/08 01:38 AM by Dagabond
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