Comments on: Worthless Money from the US to Zimbabwe http://dailyreckoning.com/worthless-money-from-the-us-to-zimbabwe/ Entertaining Ideas on the Economy, Markets, Gold, Oil and Investing Strategies. Fri, 10 Feb 2012 23:16:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Junior Mogambo Ranger Matt http://dailyreckoning.com/worthless-money-from-the-us-to-zimbabwe/#comment-13047 Junior Mogambo Ranger Matt Fri, 26 Jun 2009 15:29:02 +0000 http://dailyreckoning.com/?p=16723#comment-13047 Is the government's bailout program, with loans to banks, a clever set-up where they are repaid with worthless paper? Why was it necessary to have brokerage firms and investment banks change their status to federally-registered banks? So they could lend them taxpayer dollars, of course. And finally, dear exalted potentate of the Guru nation, why have you (and the MSM) ignored the $2.1 Trillion in loans by the Fed to "banks" last October, at the same time, but separate from the bailout $700Billion which got all the attention. When requested, the Fed said that to identify the banks, and any security posted as collateral had to be kept secret since it might bring down those institutions. Huh? Our money, and no congressianal oversight? BloombergNews filed suit in Federal Court under the FOIA, but the Fed is fighting back.Seven months now, and only stonewalling. Now Citi and Chase were deemed "too big to fail", so who got those loans (that was even bigger)? Is the government’s bailout program, with loans to banks, a clever set-up where they are repaid with worthless paper?

Why was it necessary to have brokerage firms and investment banks change their status to federally-registered banks?
So they could lend them taxpayer dollars, of course.

And finally, dear exalted potentate of the Guru nation, why have you (and the MSM) ignored the $2.1 Trillion in loans by the Fed to “banks” last October, at the same time, but separate from the bailout $700Billion which got all the attention.

When requested, the Fed said that to identify the banks, and any security posted as collateral had to be kept secret since it might bring down those institutions. Huh? Our money, and no congressianal oversight?

BloombergNews filed suit in Federal Court under the FOIA, but
the Fed is fighting back.Seven months now, and only stonewalling.

Now Citi and Chase were deemed “too big to fail”, so who got those loans (that was even bigger)?

]]> By: Andrew from Perth http://dailyreckoning.com/worthless-money-from-the-us-to-zimbabwe/#comment-13007 Andrew from Perth Fri, 26 Jun 2009 07:25:04 +0000 http://dailyreckoning.com/?p=16723#comment-13007 Junior Mogambo Ranger Smith from Australia here. I now truly understand the meaning of fear! I charted the Australian M3 money supply since 1954 when records started. Since 2000, it has increased from $400 Billion to $1200 Billion. Thats 200%!!! In 10 years!!! And now the Australian governments, state and federal will borrow another $600 billion over the next 3 years to finance a spending binge to "rescue the Aussie economy"! Australian M3 is now growing exponentially and the only place to hide and wait for the credit cyclone to blow over is gold and silver. Zimbabwe here we come. Junior Mogambo Ranger Smith from Australia here. I now truly understand the meaning of fear!
I charted the Australian M3 money supply since 1954 when records started. Since 2000, it has increased from $400 Billion to $1200 Billion. Thats 200%!!! In 10 years!!! And now the Australian governments, state and federal will borrow another $600 billion over the next 3 years to finance a spending binge to “rescue the Aussie economy”! Australian M3 is now growing exponentially and the only place to hide and wait for the credit cyclone to blow over is gold and silver. Zimbabwe here we come.

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