Home Precious Metals

Fear-mongering is alive & well on Wall Street

jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
Yes, Armeggedon has been prevented. "Financial Armeggedon" is the phrase used a minute ago on CNBC. If that's not fear-mongering for the sake of pumping this bailout frenzy, then I don't know what is.

Oh, all is well. AIG stock is UP +30% as we speak...........manipulation? Nah, it's not called manipulation when the government does it.

Putting this in the context of this forum, my sarcasm can (and maybe should be ignored), but this clearly seems to point toward inflation which is positive for precious metals, imo.

Added: Just in - the new Treasury Plan is a "game changer" for Morgan Stanley, and "strengthens it's negotiating position" and its chances for remaining independent.

It's great to have friends in high places.
Q: Are You Printing Money? Bernanke: Not Literally

I knew it would happen.

Comments

  • To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream.
    imageQuid pro quo. Yes or no?
  • Really is some house they are building.

    image
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Ah, whatever it's all money under the bridge.

    I want to go to AIG and pick up a stapler and some paper since I now own a portion of it. I don't think I'll get anything.

    So, the question is: do we own anything or did "they" just use our money to buy themselves out? (rhetorical ?)

    Renimage
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭
    You really dont want to know what would have happened if the banking system failed.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BochimanBochiman Posts: 25,284 ✭✭✭✭✭


    << <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream. >>



    That, I could agree with. At the least, if a firm was directly helped (indirectly would prove bothersome to prove), then at a minimum, a certain percentage of any profits should go to a fund to restore funding that did this. Any bonuses should likewise be partially subtracted from. at least at the exec level.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    You really dont want to know what would have happened if the banking system failed.

    Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?

    Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    You really dont want to know what would have happened if the banking system failed.

    The system is failed. Right now. Just like a patient with the first diagnosis of a terminal disease. But this allows the banks to play with monopoly money for a while longer until they do collapse. One cannot fix a debt-riddled system with more debt and socialized bail outs. We've just guaranteed a few more generations of Americans with debts beyond their means to dispose of in order to keep the banksters afloat in crooked cash. Maybe we should have let the system failure. The first step should be to dissolve the FED and return the power of creating money to WE the PEOPLE....not the govt or its pseudo-agencies.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • fcfc Posts: 12,788 ✭✭✭


    << <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream. >>



    AIG is taking this loan from the govt at 11% interest.
    if they pull this off the govt has a possibility to make some reasonable
    money.

    read the news, not just the headlines. i recommend changing your
    news source.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I'd bet right now that AIG has no chance in heck of staying afloat without further cash. And the end result has not changed one iota with the current infusion of taxpayer cash. Derivatives and the depth of destruction they can reap is still totally misunderstood.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • RR, you beat me to it.

    The banking system HAS failed.

    We should have just let them collapse and get this over with. Fat cats be damned.

    AIG is looking for a merger as I type this, either that or an infusion of cash from overseas for a batch of their miserable paper.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff


  • << <i>

    << <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream. >>



    AIG is taking this loan from the govt at 11% interest.
    if they pull this off the govt has a possibility to make some reasonable
    money.

    read the news, not just the headlines. i recommend changing your
    news source. >>



    Who is talking about AIG? My comment was about the 500 Billion dollars the government is setting up to buy bad loans from banks etc. I guess maybe you haven't seen the news today. AIG is only one issue this week, there have been several, and I like my news sources thank you very much.

    Edited to add, "Read the news, not just the headlines." Really? You can judge what I read and how much attention to the news I pay to make that statement from my post? As you like to say pffffffft. image
    imageQuid pro quo. Yes or no?
  • fcfc Posts: 12,788 ✭✭✭


    << <i>

    << <i>

    << <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream. >>



    AIG is taking this loan from the govt at 11% interest.
    if they pull this off the govt has a possibility to make some reasonable
    money.

    read the news, not just the headlines. i recommend changing your
    news source. >>



    Who is talking about AIG? My comment was about the 500 Billion dollars the government is setting up to buy bad loans from banks etc. I guess maybe you haven't seen the news today. AIG is only one issue this week, there have been several, and I like my news sources thank you very much.

    Edited to add, "Read the news, not just the headlines." Really? You can judge what I read and how much attention to the news I pay to make that statement from my post? As you like to say pffffffft. image >>



    my apologies. i was mixing the OP post with your post. The first
    post mentions AIG...

    but in response to your original post.. AIG, for example, will be giving
    up any possible profits they make for a long time to come.

    the govt has done this thing before and sometimes they do come
    out ahead.

    but once again sorry about the headline poke.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Does anyone think that Dodd and company burning the midnight oil this weekend (pure babies, have to work the weekend) can solve something that has no solution other than complete failure.

    RR, you're right...let it fail. It will suck for a long time but maybe we can get our country back from the Fed.

    They have done a lot of damage in the past 95 years.

    I just hope the Federal Reserve doesn't get a commemorative coin in 2013.

    Ren
  • cohodkcohodk Posts: 18,553 ✭✭✭✭✭


    << <i>You really dont want to know what would have happened if the banking system failed.

    Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?

    Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids. >>



    Yup. the banks did break themselves. Greed and DEBT kills. Always has, always will.

    But the banking system will reinvent itself, and for hopefully these lessons will be learned.

    If the banks were to have stopped working--and remember many companies operate in bankruptcy--then you and your friends and your relatives would have found themselves out of work, probably within a week. The grocery stores, gas stations, Wal-marts, would be bare within the next week. That aint fear, thats reality.

    So ask yourself, would you rather maintain an income and at least the opportunity to provide for your family, or shutter yourself in your house, fearful your neighbor was going to rob you?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If the FED had their way they would run the BEP and USMint as well. There was a bill introduced in 2006 by a Rep. Kolbe who desired that very thing.....see section #8 of HR 5818 IH. This bill reads like a scam. Buried in the 8th section after a run of literally minor changes is the request to shift oversight of the BEP and USMint to the Federal Reserve. I bet this would not go over well right now.

    HR 5818 "Currency Overhaul for an Industrious Nation."

    You can't make stuff like this up!

    How about: "Cleaning Out Insider Nation.

    HR 5818 - More bad legislation

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • GoldbullyGoldbully Posts: 16,823 ✭✭✭✭✭


    << <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.

    Never happen, but a man can dream. >>



    image


    Rob, where did the joker go??


  • << <i>

    but once again sorry about the headline poke. >>



    No biggie... And thanks for the sorry... image

    GoldBully:
    I still show my Joker Icon? I have been adding more so I don't have to be the same joker all the time, but I am back to old faithful right now.

    On the topic of wall street, I am normally against bailouts, but this latest one, buying up all the toxic crap loans, may be what turns us around. Hindsight is 20-20 as they say, but if they would have done this 6 months ago, we may not have had some of the bailouts we do now. Like most of you, all I really want is the economy to turn around before it reaches out and takes my job and affects how my family lives. Thanks to planning ahead (paying off everything but the mortgage, mostly and early this year limiting my exposure to stocks), we are as prepared as can be. Whether this bailout even works or not is still yet to be seen, and adding more to the national debt (to keep it on PM topic) IMO long term gives more value to Gold and Silver. Just my two cents on a Saturday morning.
    imageQuid pro quo. Yes or no?
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    They didn't want bailouts 6 months ago or even a year ago because the FED and Treasury were well aware that due to the size of the rancid paper out there, it was not possible. The only solution then and still the same today, is to keep it hidden as long as possible and to underestimate the effects as it slowly comes to light.

    There is absolutely no way they could all come clean in one fell swoop and then set on a course to slowly recover. That would be same as failing the entire banking industry in one day and there is no "reasonable" recovery from that and still maintain our nation and current way of life. The FED has no answers either, just delay tactics to first get past November, and then deal with whatever comes after that.

    If I were judging the FED and Treasury from the sidelines I would applaud them for keeping the iceberg-struck Titanic from sinking, a seemingly impossible feat. But now they have to get the ship back to port without power or without a tow. How do you do that?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Federal debt is over $9.6 trillion, exceeds 60% of the GDP. And these are the people bailing out bad business models?

    Aside from some non recoverable cost the feds may incurr, aside from fronting money that is "borrowed" money in itself, aside from various federal programs such as medicare and social security that have ever increasing $ expenditures, aside from the real possiblities that these businesses that are bailed out may yet fail, aside from the additional demands this puts upon the productive sector of the economy, how can this be anything but good?

    Sometimes bigger means more fragile and consequences can be much more devastating.
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    << <i>You really dont want to know what would have happened if the banking system failed.

    Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?

    Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids. >>



    Yup. the banks did break themselves. Greed and DEBT kills. Always has, always will.

    But the banking system will reinvent itself, and for hopefully these lessons will be learned.

    If the banks were to have stopped working--and remember many companies operate in bankruptcy--then you and your friends and your relatives would have found themselves out of work, probably within a week. The grocery stores, gas stations, Wal-marts, would be bare within the next week. That aint fear, thats reality.

    So ask yourself, would you rather maintain an income and at least the opportunity to provide for your family, or shutter yourself in your house, fearful your neighbor was going to rob you? >>



    agree worst case scenario is not what anyone really wants nor the reason for buying PM. i just hope this is somehat "just" for the fat cats. i think for the PM bugs, their major beef is that the comex value of gold does NOT reflect the economic conditions we are in right now. or is PM really truly not a barometer in this type of economic storm???????


  • << <i>
    agree worst case scenario is not what anyone really wants nor the reason for buying PM. >>



    Reading some of the posts here, I doubt that.
    “When the people find that they can vote themselves money, that will herald the end of the republic.” — Benjamin Franklin


    My icon IS my coin. It is a gem 1949 FBL Franklin.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>Federal debt is over $9.6 trillion, exceeds 60% of the GDP. And these are the people bailing out bad business models?

    I've seen numbers like $53 trillion is our Federal debt and prescription drugs alone are $8 trillion (which was passed w/o a real fight), a full 15% of our debt. I'm not sure but would these numbers be unfunded liabilites(?)

    Ren
  • BearBear Posts: 18,954 ✭✭
    Hey taxpayers good news,

    we just bought an insurance

    company.image
    There once was a place called
    Camelotimage
  • The only way to win the game is not to pay....whoops I meant play.
  • BearBear Posts: 18,954 ✭✭
    Back our currency with toilet paper. (Charmin super soft)

    That way, their will be

    true value supporting our money.
    There once was a place called
    Camelotimage
  • BearBear Posts: 18,954 ✭✭
    Listen up pilgim cause I am only

    going to say this once. The tax payers

    pick up the debt and the companies

    and top management pick up the profit.

    Any apparent limitations on the right of CEOs

    to gouge the system, will be removed thru amendments

    proposed by lobbyists so that the little dears can leave

    with 40 -100 million dollars in farewell money.
    There once was a place called
    Camelotimage
Sign In or Register to comment.