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seldom_seen
Fission
Joined: Apr 12, 2005
Posts: 2047
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 Posted: Fri Oct 10, 2008 10:02 pm Post subject: Treasury to buy bank stocks |
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I wonder if any of this money will be used to buy Goldman shares?
| Quote: | U.S. planning to buy bank stocks
Treasury planning a program to attract private capital alongside public capital to financial institutions.
NEW YORK (CNNMoney.com) -- Treasury Secretary Henry Paulson said on Friday that the U.S. government was working on a plan to buy stock in financial institutions by using part of the $700 billion authorized by Congress to stabilize the financial system.
bend over |
How depraved is this? What sort of humiliation...what sort of insult will they come up with next? They need 700 billion immediately so they can save the earth buy buying stock in the companies of their banker buddies.
Please recall that Obama and Mccain voted for this looting of the treasury. If you vote for Mccain or Obama, sorry, you are a loser and part of the problem. |
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heroineworshipper
Intermediate Crude
Joined: Jul 14, 2006
Posts: 734
Location: Calif*
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| Posted: Fri Oct 10, 2008 10:09 pm Post subject: Re: Treasury to buy bank stocks |
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bank bailout -> more treasury auctions -> less money to spend on BANK STOCKS -> more bank bailouts -> more treasury auctions -> less money to spend on bank stocks -> more bank bailouts -> more treasury auctions -> less money to spend on bank stocks -> more bank bailouts -> more treasury auctions -> less money to spend on bank stocks -> more bank bailouts -> more treasury auctions -> less money to spend on bank stocks -> more bank bailouts -> more treasury auctions -> less money to spend on bank stocks -> slavery -> cannibalism -> ZOMBIE INVASIONS
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People first, then things, then dollars.
There will be enslavement, cannibalism, & zombie invasions. |
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ColossalContrarian
Intermediate Crude
Joined: Jun 20, 2006
Posts: 687
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| Posted: Fri Oct 10, 2008 10:18 pm Post subject: Re: Treasury to buy bank stocks |
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Does this mean the people who started this mess will get even more money?
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got cash? |
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americandream
Fission
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Joined: Oct 18, 2004
Posts: 2106
Location: kiwibush
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| Posted: Fri Oct 10, 2008 10:29 pm Post subject: Re: Treasury to buy bank stocks |
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| ColossalContrarian wrote: | | Does this mean the people who started this mess will get even more money? |
Yes.
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Bugger me, I hear oil's runnin out mate! |
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eastbay
Moderator
Joined: Dec 18, 2004
Posts: 4886
Location: One Mile From the Columbia River
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| Posted: Fri Oct 10, 2008 10:36 pm Post subject: Re: Treasury to buy bank stocks |
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| americandream wrote: | | ColossalContrarian wrote: | | Does this mean the people who started this mess will get even more money? |
Yes. |
McCain and Obama both approve that bail-o-rama * prograsm so it must be a good idea. Just like they both want more war, so more war must be a good idea too.
I'm think I'm finally catching on...
* term stolen from thuja
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Cid_Yama
Light Sweet Crude
Joined: May 27, 2007
Posts: 1723
Location: The Post Peak Oil Historian
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| Posted: Fri Oct 10, 2008 10:42 pm Post subject: Re: Treasury to buy bank stocks |
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They already did it throughout the day today. Where else do you think that buying came from every time the market began to plunge? Bush even announced they were going to do it in his speech this morning.
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In a time of universal deceit, telling the truth is a revolutionary act. - George Orwell
It riles them to believe that you perceive the webs they weave. - Moody Blues |
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thuja
Light Sweet Crude
Joined: Oct 15, 2005
Posts: 1618
Location: Portland, Oregon
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| Posted: Fri Oct 10, 2008 10:48 pm Post subject: Re: Treasury to buy bank stocks |
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The war is on people- Gubmint Inflationistas versus the Screaming Panicking Deflationista Hordes. Who will win?
IN one camp, we have a printing press the size of North Dakota ready to crank out hundreds like they were toilet paper.
IN the other camp are the cranked out NYSE zombie trader hordes, their eyeballs swallowing digital armageddon. SELL!!!!
It is indeed the mother of all battles... |
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Armageddon
Fusion
Joined: Apr 13, 2005
Posts: 3162
Location: St.Louis, Mo
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| Posted: Fri Oct 10, 2008 10:51 pm Post subject: Re: Treasury to buy bank stocks |
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| ColossalContrarian wrote: | | Does this mean the people who started this mess will get even more money? |
Of coarse, that's why the FED was created and why it was so hard to get passes. The biggest crime in worlds history. Most are too ignorant to realize. |
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miskatonic
Tar Sands
Joined: Aug 31, 2008
Posts: 20
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| Posted: Fri Oct 10, 2008 10:52 pm Post subject: Re: Treasury to buy bank stocks |
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So does that mean that the market was heavily manipulated on 10/10?
If so one might deduce that the timing was planned. Is in if the market drops X amount of point then we do Y to stabilize. That actually makes sense as to why the banks went up at all today. No sensible person should be buying a stock like Bank of America when they just announced a 68% drop in profit.
If all that is true, the actions of the government might have actually staved off a collapse today.
I am just speculating here. This is total conjecture on my part. Like so many other people I am just trying to make sense of what happened in today’s market. |
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seldom_seen
Fission
Joined: Apr 12, 2005
Posts: 2047
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| Posted: Fri Oct 10, 2008 11:16 pm Post subject: Re: Treasury to buy bank stocks |
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| thuja wrote: | | It is indeed the mother of all battles... |
I've thought a bit about the inflation vs. deflation battle. My conclusion is that they both will win, and at the end of the day people will be holding a reduced amount of devalued dollars.
Take the typical 401K for instance. If the market crash doesn't wipe it out, inflation will. Right now they both are taking bites. The market crash is like a grizzly bear mauling your 401K...inflation is like a case of malaria, slowing sapping the life of your retirement account. |
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jbrovont
Intermediate Crude
Joined: Jun 16, 2006
Posts: 701
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| Posted: Sat Oct 11, 2008 12:09 am Post subject: Re: Treasury to buy bank stocks |
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| This is ludicrous. I think I may stop accepting USD. Maybe bread notes or gas cards denominated in gallons. |
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ReverseEngineer
Light Sweet Crude
Joined: Jul 16, 2008
Posts: 1490
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| Posted: Sat Oct 11, 2008 12:40 am Post subject: Re: Treasury to buy bank stocks |
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| seldom_seen wrote: | | thuja wrote: | | It is indeed the mother of all battles... |
I've thought a bit about the inflation vs. deflation battle. My conclusion is that they both will win, and at the end of the day people will be holding a reduced amount of devalued dollars. |
Disagree. Neither will win, everyone Loses.
Here is what is happening as I see it. You have an accounting system for wealth gone awry. Trillions of meaningless dollars were bet in the derivatives market, these weren't dollars related to productivity, just bets on failures.
As long as the accounting system exists, as long as you abide by the contracts between the parties who made these bets then as they are called you have to throw more meaningless money at each of them in order to balance out the books. Thus the Fed now runs the printing press 24/7 not really so much in the effort to inject liquidity into the market as to try to unwind all the contracts and balance out all the books to figure out who the winners and losers are in the game.
In the long run, to balance this all out, you have to print up the actual value of all the bets in some sort of money, thus new issues of debt which nobody will buy. I mean, you could exchange your Toxic Assets for T-bills, but the T-bills themselves are worhtless assets also since nobody is ever gonna pay them back EITHER.
The Money is theoretical Matter. The Debt is theoretical Anti-Matter. What do you get when Matter and Anti-Matter MEET? TOTAL ANNIHILIATION. What of Lazarus? (for you Star Trek fans of the first series).
The "inflationistas" ARE trying to make enough matter to compensate for the anti-matter created over the last decade, but even if they succeed in printing enough, it never shows up in the general economy to inflate it. It just gets swallowed up in the Black Hole and DISAPPEARS from existence.
I just don't think the game LASTS long enough for the money being printed to show up in dollars we have to push around in wheelbarrows to buy a loaf of bread. This monetary system and the concepts of ownership behind it are TOAST.
There won't be inflation OR deflation. We will hit the Zero Point and then we will Reboot in some fashion, which will involve a massive die off and chaos and warfare where money is close to a meaningless concept.
That is JMHO however. I could of course be wrong 
Reverse Engineer |
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thuja
Light Sweet Crude
Joined: Oct 15, 2005
Posts: 1618
Location: Portland, Oregon
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| Posted: Thu Oct 16, 2008 8:50 am Post subject: Re: Treasury to buy bank stocks |
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Wow- I nkow its been almost a week since you've posted this but I just had to say...
That was awesome. Who knows if your prediction is true but the way you worded it was just fantastic. Cheers... |
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