Hypertiger Posted July 3, 2003 Report Share Posted July 3, 2003 From a Fed Annual Report........ d. U.S. Government and Federal Agency Securities and Investments Denominated in Foriegn Currencies The Bank has been designated by the FOMC to execute open market transactions on it's behalf and to hold the resulting securities in the portfolio known as the System Open Market Account ("SOMA")........ Foreign currency market intervention...also known as SOMA. You can't make this stuff up Each year the Treasury receives the Fed's revenue that is in excess of its expenses. http://www.ny.frb.org/pihome/fedpoint/fed45.html Federal Reserve 2000 Annual Report: Distribution of Net Income: Dividends paid to member banks - $89,000,000 Transferred to Surplus - $916,000,000 Payments to US Treasury as interest on Federal Reserve Notes - $12,118,000,000 Total Distribution - $13,123,000,000 I'm confused a bit here regarding the statement that the Treasury recieves after expenses revenues from the Fed. How can you be both the major customer and benificiary at the same time ? Tanks for any comments....... I know shiite Accounting tricks of a money laundering operation... The FED has never been audited it it's history, whenever someone in congress speaks out the action is stopped...The statements it releases have no way to be investigated... It's all created out of thin air... If they are lying how can you prove it? There is no way to obtain proof... 60 years ago they locked people up for talking on the radio about the mechanics of fractional reserve banking...Now the population has been dumbed down so much that it is too complex a subject and hurts to much to even think about it for very long... I'm just a nut case doom and gloomer,on the Internet...I'm not Tom Brokaw...or *Gag* Larry Kudlow... Link to comment Share on other sites More sharing options...
TheMotleyStool Posted July 3, 2003 Report Share Posted July 3, 2003 Remember, all the Fed has to do is SUGGEST it will buy back those Treasuries, and then the investors will buy them at any price. As long as they believe they have a Greenspan put, they will accept a pittance in yield. They don't realize there's no net underneath the rope. Link to comment Share on other sites More sharing options...
PileDriver Posted July 3, 2003 Report Share Posted July 3, 2003 Now they're advising them to begin selling! TO WHOM?! http://www.vtoreport.com/sentiment/sentiment.htm Link to comment Share on other sites More sharing options...
Guest Posted July 3, 2003 Report Share Posted July 3, 2003 Pigeon Drop, It's truly amazing what people try to auction off on E-Bay Did you hear of the man who tried to auction off his family :grin: Link to comment Share on other sites More sharing options...
brian4 Posted July 3, 2003 Report Share Posted July 3, 2003 MJ-2004 is the year! The mortgage bankers assciaition reported today a 1/4 point jump in mortgages and predicted a rate 0f 5.5% by yr end and a rate of 7% by yr 2005. If you ain't SHORT the builders you should be. Like Piles I've legged in SHORT over 50%-the parties over-Monday won't be pretty-if you are long good luck you'll need it. I am surprised no one has commented on the one minute 12 bar death drop the spin was a screwed up program trade-but this time no one came forward as Bear Stearns did a few months back to say oopsy. This was no accident I have never, ever in many, many years of watching this beast seen anything that fast except one time the Friday morning BEFORE Black Monday and they gave the same spin then as now. To me someone or something hit this market with an incredible large at the market index sell and blew out all the laddered stops if you were watching the SPOO futures and cash charts you can plainly see how close, how very close we came to an implosion. The ticks ended in the toilet with the trin up to the Moon-Monday open the BEARS will love-the bulls might meet Piles steamroller-be careful and Trade Safe! Link to comment Share on other sites More sharing options...
The brown one Posted July 3, 2003 Report Share Posted July 3, 2003 Here's one I prepared earlier! Bought this in 1983 to take a photo of it to show that I could be a photographer. The actual shot is on 6x9cm slide film where it's in the palm of a shiny black hand ( a ring tree) and the reflection of this coin in the hand looks like molten gold. Pity I haven't got a film scanner for that format,so you'll have to make do with this rather cruddy 35mm shot.Lovely coin though.In '83 I think I paid about $400 for it!!!! Only kept it for the photo-took it back to the bank and lost 15% of my purchase price(here in the old world they add Value Added Tax when you buy it-but don't give it back when you sell it! ).Still,healthcare is affordable or free-so I not complainin' Link to comment Share on other sites More sharing options...
MyGoldenStool Posted July 3, 2003 Report Share Posted July 3, 2003 M2M poll question: in which fiscal year will the US Federal Gubbamint run it's very first $1 Trillion dollar budget deficit?: 2004? 2005? 2006? other year? never? and why...........my money is on 2004.....tax revenues will be through the floor (and through the basement and about 10 feet underground) by then. Still trying to figure out who's going to buy all the new Treasury toilet paper, and at what interest rates. 2004 EASILY. They just added 400 bil in Medicare bennies (that's probably a conservative number knowing who it came from). Add in some more state aid and jobless bennies, and then an expansion of the Medicaid program for all those newly recognized "unemployees" with no health insurance. And it's an election year, so you know any gubmint spending on the less affluent will breeze through. And don't forget all those new state taxes which you didn't have to write off on your fed taxes before. Link to comment Share on other sites More sharing options...
Hypertiger Posted July 3, 2003 Report Share Posted July 3, 2003 They can't even pay back the principal, let alone the compound interest. Consumer debt is likely already maxed out. What isn't maxed out is corporate and government debt. Corporate debt has to be repaid or dissolved through bankruptcy and thus has real limits. Of course there's always the option of government bailout/covert nationalization of industry. As for government debt . . . as long as the Fed is able to buy it, there is no theoretical limit. There may be well-placed doubts about the governent's ability to stimulate productive economic activity through deficit spending, but we should not doubt that the government can dole out the dough, and it doesn't need helicopters or dump trucks to do it. It can fund social programs, build up national defense & domestic "security," create public works projects, bail out bankrupt companies & states, etc. All those activities either create or save jobs. The Fed can feed it the money -- created out of thin air in return for worthless IOUs -- and will ultimately have to because no one of sound mind is going to buy those notes. What that leads to, however, is basically a centralized command-and-control economy. The government (i.e. those who control the government) decides what gets produced and how it gets allocated. Sound familiar? Some hope for the second coming . . . Some look to the stars . . . Some look at history and conclude that it's deja vu all over again: the rise and predictable fall of another civilization. Generally, though, it takes quite a bit longer than 25 years to fall from the apex of world power to absolute ruin. The U. S. stills carries the biggest military sticks, by far, and with that power comes the possibility of stretching things out a ways. We may have an Argentinian-like overspending habit, but our options for maintaining that habit seem to be more open-ended IMHO. We'll still die from the addiction, but not without first sucking the life out of others. Hyper, if you still hold to the 7-11 month death spiral, I would appreciate a point-on-point rebuttal instead of another run through the fractional reserve banking/inflate or die scenario. I'd just like to know why you think the reigning superstructure of our society won't be propped up beyond that time frame by the "unconventional means" mentioned above . Of course it will be "propped" past the 7-11 month time frame... some time in the next 7-11 months the game is going to be finished as it is currently being played. That is all... Whatever unconventional actions are needed will have to start... Think about what it would take for the Government to "prop" your lifestyle and times that by a few hundred million... Have no fear the Government will save me... No... they will "Govern" you...and if you are saved in the process then that is a bonus. Look at Iraq... how is the Governing process working in a country with a smashed consumer economy? Just don't resist and you should be ok... Link to comment Share on other sites More sharing options...
BigWave Posted July 3, 2003 Report Share Posted July 3, 2003 Thanks, Big Wave. Speaking of your earlier comment on IDS about the disappearance of seasons in Houston ... in Feb. 1960 we got 8 inches of snow in Beaumont, 90 miles east of Houston. Still have photos of little brother and me, standing in front of a snowman taller than us (at ages 4 and 5). Bet that doesn't happen much anymore on the Gulf coast (not that it was ever common). You got that right. The last time I can remember a sustained freeze was 1990. Lasted about 8 days. Since then we have had some cold spurts, but nothing that would freeze the plants. Link to comment Share on other sites More sharing options...
DryDocker Posted July 3, 2003 Report Share Posted July 3, 2003 Striker - 1oz gold coins are usually $10-20 premium over spot gold. So, eagles s/b around $365 today. Online you can check prices @ www.tulving.com, www.ajpm.com, www.golddealer.com Call around to a few local coin shops, I think it pays to do business locally and prefer cash & carry for privacy reasons. Here in CA, no sales tax if purchase is over $1000. Link to comment Share on other sites More sharing options...
PileDriver Posted July 3, 2003 Report Share Posted July 3, 2003 What does this tell ya? :wink2: http://www.decisionpoint.com/affiliate/NHNL.html Link to comment Share on other sites More sharing options...
Hypertiger Posted July 3, 2003 Report Share Posted July 3, 2003 MJ-2004 is the year! The mortgage bankers assciaition reported today a 1/4 point jump in mortgages and predicted a rate 0f 5.5% by yr end and a rate of 7% by yr 2005. If you ain't SHORT the builders you should be. Like Piles I've legged in SHORT over 50%-the parties over-Monday won't be pretty-if you are long good luck you'll need it. I am surprised no one has commented on the one minute 12 bar death drop the spin was a screwed up program trade-but this time no one came forward as Bear Stearns did a few months back to say oopsy. This was no accident I have never, ever in many, many years of watching this beast seen anything that fast except one time the Friday morning BEFORE Black Monday and they gave the same spin then as now. To me someone or something hit this market with an incredible large at the market index sell and blew out all the laddered stops if you were watching the SPOO futures and cash charts you can plainly see how close, how very close we came to an implosion. The ticks ended in the toilet with the trin up to the Moon-Monday open the BEARS will love-the bulls might meet Piles steamroller-be careful and Trade Safe! There should be a demand to lock in rates so we should see a gain in new homes and last minute refi's... Or not... But if rates rise and keep rising it will finish the 12 year housing boom... you can't refianance a lower rate at a higher rate...and prices will have to drop to increase demand at that point... Link to comment Share on other sites More sharing options...
tpark Posted July 3, 2003 Report Share Posted July 3, 2003 MJ-2004 is the year! The mortgage bankers assciaition reported today a 1/4 point jump in mortgages and predicted a rate 0f 5.5% by yr end and a rate of 7% by yr 2005. If you ain't SHORT the builders you should be. Like Piles I've legged in SHORT over 50%-the parties over-Monday won't be pretty-if you are long good luck you'll need it. I am surprised no one has commented on the one minute 12 bar death drop the spin was a screwed up program trade-but this time no one came forward as Bear Stearns did a few months back to say oopsy. This was no accident I have never, ever in many, many years of watching this beast seen anything that fast except one time the Friday morning BEFORE Black Monday and they gave the same spin then as now. To me someone or something hit this market with an incredible large at the market index sell and blew out all the laddered stops if you were watching the SPOO futures and cash charts you can plainly see how close, how very close we came to an implosion. The ticks ended in the toilet with the trin up to the Moon-Monday open the BEARS will love-the bulls might meet Piles steamroller-be careful and Trade Safe! How do they revoke a sell like that anyway? They would have to have a good story to tell. Possibly todays near death experience has ruined some PPT anal cysts long weekend. What do you think they will do come monday? Link to comment Share on other sites More sharing options...
DICK BUTTkus Posted July 3, 2003 Report Share Posted July 3, 2003 Of course it will be "propped" past the 7-11 month time frame... some time in the next 7-11 months the game is going to be finished as it is currently being played. That is all... Whatever unconventional actions are needed will have to start... Think about what it would take for the Government to "prop" your lifestyle and times that by a few hundred million... Have no fear the Government will save me... No... they will "Govern" you...and if you are saved in the process then that is a bonus. Look at Iraq... how is the Governing process working in a country with a smashed consumer economy? Just don't resist and you should be ok... Ok -- I think we are of similar mind on this. Have a nice weekend all. Link to comment Share on other sites More sharing options...
coboy Posted July 3, 2003 Report Share Posted July 3, 2003 I am surprised no one has commented on the one minute 12 bar death drop the spin was a screwed up program trade-but this time no one came forward as Bear Stearns did a few months back to say oopsy. This was no accident I have never, ever in many, many years of watching this beast seen anything that fast except one time the Friday morning BEFORE Black Monday and they gave the same spin then as now. To me someone or something hit this market with an incredible large at the market index sell and blew out all the laddered stops if you were watching the SPOO futures and cash charts you can plainly see how close, how very close we came to an implosion. The ticks ended in the toilet with the trin up to the Your writing has some entertainment value but it's just that ! Let me ask you; Why did they break the trades then if it was really the intention of the seller ? To mask the real intent Half trading day before holiday, after 2 days of boner run and an extremely large erronuous order, what did you expect ? Even with it, market didn't drop below yesterdays' low.. I see you're still picking top, eventually you'll be right like serial bottom callers.. Link to comment Share on other sites More sharing options...
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