Obama is throwing in the towel
Readers who have been following this blog for a while know about the exploding money supply in the United States. Two months ago Obma said that “we won’t just throw money at our problems, we’ll invest in what worksâ€, but now we know that throwing money is exactly what he is going to do.The Federal Reserve announced it will pump more money into the financial system in an attempt to ease the crisis, again. All previous attempts failed, so the Federal Reserve is now going to increase the money supply to new, never seen before levels. In September 2008 the total amount of dollars in circulation was $874 billion, about $250 billion of this money circulated in the US. The new money injection by the Fed will expand the US domestic monetary base to about $3.8 trillion by September 2009, an increase of 1400% in just a year!
The president was Jay Leno’s guest this week and Obama had some interesting things to say. Leno asked where all the money went that has been handed out by the government.
Leno: “Well, when will the money – this money was given out to the banks. I would have thought by this time it would have sort of trickled down to Main Street, to people wanting to get loans – I mean, it all went out there months and months ago. Where is it?”
Obama: “Well, what’s happening is a lot of these banks are keeping it in the bank because their balance sheets had gotten so bad that they decided, you know what, for us to stay solvent we need to maintain certain capital ratios, we’ve got to have a certain amount of capital in the bank — and they haven’t started lending it yet. And that’s why what we’ve got to do – right now what we’re doing is essentially doing a diagnostic test – trying to use some auto language here so you – (laughter) – we’re doing a diagnostic on each of the banks, figuring out what are their capital levels? Can they sustain lending? And then I think we’re going to separate out – those banks that are in good shape, we’re going to say to them, all right, you’re on your own, go start lending again. Those banks that still have problems, we’ll do a little more intervention to try to clean some of those toxic assets off their books.”
Obama points out a fatal flaw in today’s banking system when he says “to have a certain amount of capital in the bank”, but doesn’t explain it, read here why. Voters wanted Obama as their new president because he promised change, but he is actually doing the opposite: at all costs (literally!) he wants to save the flawed and damaged financial system. And he admits the banks have an insolvency problem, but then gives the audience some really wrong advice after a question from Leno.
Leno: “Talking with President Barack Obama. So I was going to ask you before we went to the break. So you have – obviously we have a lot of people with a few dollars – couple of hundred, couple of thousand – but there’s millions of them. Okay, obviously that’s a tremendous financial forest. What should they do? Put their money in the bank? Should they be spending money? Should they hide it under their mattress?”
Obama: “Look, first of all, everybody should have complete confidence in the banks. Their deposits are protected. They shouldn’t be putting it in their mattresses. I will leave it up to others to provide individual, personal financial advice.”
The banks still have an insolvency problem, despite all the money that has been handed out, but according to Obama everybody should have complete confidence in the banks… And, the deposits are protected! They are, but Obama never explains how they are protected. The only protection these deposits have is a promise by the government that the Fed will create even more money out of thin air. Obama doesn’t tell you that by the time you receive the dollars from the government the American dollar will have the same purchasing power as a Zimbabwean dollar… The only sound advice Obama gives is that you shouldn’t put money in your mattress, but he doesn’t say what to do with it instead. Given the nature of our money nowadays, it’s fundamentally worthless and prone to government manipulation, you should get rid of it and store your wealth in something that keeps its value: buy gold and/or silver, if you can find it.
Obama tries to convince the public he is in control and wants to curb the crisis in the spirit of his “Yes, we can” and “Change” themed election campaign. But his actions show he is just desperately throwing money at the problems, so really, he can’t. And instead of change we see an equally desperate attempt to conserve the old financial system.
Actions speak louder than words, they say. Perhaps you had a different impression when you heard the words of Obama in Jay Leno’s show, but his actions tell us that Obama is throwing in the towel.
After I wrote this story I learned the Obama administration is going in overdrive spending its way out of the crisis… Today Treasury Secretary Tim Geithner will unveil his plan to remove bad assets from the balance sheets of the struggling banks. It will cost at least $500 billion, but an amount of $1 trillion is already anticipated…
And the Congressional Budget Office reported that the plans of Obama will produce $9.3 trillion in deficits over the next decade.
But if Obama accelarates the spending some more, this amount could be close to $20 trillion…
[...] the explosive money creation by the Fed won’t kill the dollar, then the Chinese probably will. They hold the key to [...]
ACHTERKLAP! ACHTERKLAP! ACHTERKLAP!
CRISIS! CRISIS! CRISIS!
INFORMEREN JAN PETER BALKENENDE!
SCANDALS! SCANDALS! SCANDALS!
SOME OF THE WORST CASES OF RACIAL PREJUDICE IN WORLD HISTORY!
PLEASE MAKE SURE PRIME MINISTER JAN PETER BALKENENDE GETS THE INFORMATION BELOW!
(There are thousands of copies of the information below on the Internet in the Netherlands.)
The American people are thrilled to have their first African-American president.
Speaking of Barack Obama—Barack Obama is a racial-minority individual and does not like racism:
And Michelle Obama is a racial-minority individual and does not like racism:
WORLDWIDE DISSEMINATION OF INFORMATION RELATING TO SCANDALS:
(I) I do solemnly swear by Almighty God that George W. Bush committed atrocious, racist, hate crimes of epic proportions and with the stench of terrorism which I am not at liberty to mention. Many people know what Bush did. And many people will know what Bush did—even until the end of the world. Bush was absolute evil. Bush is now like a fugitive from justice. In any case, Bush will go down in history in infamy.
(II) It is opined that Bill Clinton committed terrifying, racist, hate crimes during his presidency, and I am not free to say anything further about it. ‘Be sure your sins will find you out’ (Numbers 32:23).
(III) What if basically all racial-minority people would subscribe to the interpretations that George Herbert Walker Bush committed monstrous, racist, hate crimes while he was the President of the United States? It will eventually come out: it is only a matter of time.
(IV) I know it may be hard to believe. However, Ronald Wilson Reagan committed horrible, racist, hate crimes during his presidency.
Respectfully Submitted by Andrew Yu-Jen Wang, J.D. Candidate
B.S., Summa Cum Laude, 1996
Messiah College, Grantham, PA
Lower Merion High School, Ardmore, PA, 1993
(There are thousands of copies on the Internet indicating the contents of (I), (II), (III), and (IV). For example, one can go to Google right now, type “George W. Bush committed hate crimes of epic proportions and with the stench of terrorism,†hit “Enter,†and readily find 1,000 or more copies indicating content of (I). For example, one can go to Msn right now, type “It is opined that Bill Clinton committed racist hate crimes, and I am not free to say anything further about it,†hit “Enter,†and readily find more than 500 copies indicating content of (II). For example, one can go to Msn right now, type “George Herbert Walker Bush committed monstrous, racist, hate crimes,†hit “Enter,†and readily find more than 250 copies indicating content of (III). For example, one can go to Msn right now, type “Ronald Wilson Reagan committed horrible, racist, hate crimes during his presidency,†hit “Enter,†and readily find more than 210 copies indicating content of (IV). The contents of (I), (II), (III), and (IV) exist very extensively in all major search engines. And there are thousands of copies in very many countries around the world. For example, there are countless copies on the Internet in Australia, Belgium, Brazil, Canada, China, Denmark, France, Germany, India, Italy, Japan, Korea, Norway, Russia, Sweden, the Netherlands, the United Kingdom, the U.S.A., etc. Copies in foreign countries (beyond the U.S.A.) indicate in respective foreign languages that the presidents or prime ministers or kings or heads of state of respective foreign countries are to be informed of the information relating to scandals. The expressions—“SCANDALS!†and “EMERGENCY!â€â€”are used repeatedly in respective foreign languages at the top of the copies.)
“BAD NEWS FROM THE UNITED STATES: ON THE RACIST HATE CRIMES AND ETERNAL INFAMIES OF GEORGE W. BUSH, BILL CLINTON, GEORGE H.W. BUSH, AND RONALD REAGAN†BLOG OF ANDREW YU-JEN WANG
badnewsfromtheunitedstates.blogspot.com
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‘If only there could be a BAN against invention that bottled up memories like scent & they never faded & they never got stale.’ Off the top of my head, it came from my Lower Merion High School yearbook.