Posted by: Disillusioned | March 29, 2009

Post from 3/21/09

Money and Banking

 

 Washington Mutual sues FDIC for $13 Billion

http://www.reuters.com/article/newsOne/idUSTRE52K1K620090321

Guess it was only a matter of time before we start hearing about credit unions, 2 credit unions and 3 banks failed on Friday

http://finance.yahoo.com/news/2-corporate-credit-unions-apf-14707022.html

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.ZsPab..qrI&refer=home

 Here is some interesting information I stumbled across in my research – one person’s impression of the value of the dollar impacts from the stimulus and bailouts: The latest M2 report from the Federal Reserve Bank details the information for February of 2009 and lists the total at: 8275.4 Billion dollars which, by US conversion, is a little over $8 trillion dollars. Now, according to Bloomberg.com the Stimulus and Bailout pledges as of February 2009 totals: $11.6 Trillion Dollars. That leaves us with a bill that is $3.6 Trillion Dollars MORE than our entire money supply for the entire country, or roughly 50% more than all the money we have. Now, I could be wrong in the way I interpreted this data, in which case I will be very happy to be wrong. Now, when you take into account the idea that inflation is really the devaluation of the dollar based on an increased number of dollars relative to the worth of what backs it ( the money is fiat and therefore backed only by the value of the US, it’s lands, industry, real estate and people ) it seems that we are looking at a devaluation of the dollar by at least 50%! In other words, your dollar is now worth .50 cents and everything you buy will double in price.

http://www.federalreserve.gov/releases/h6/Current/

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZchK__XUF84

Around the World

 

 US Drawing up plans to help Mexico Drug War

http://news.bbc.co.uk/2/hi/americas/7949665.stm

Michigan state takes over city of Pontiac

http://www.clickondetroit.com/news/18969849/detail.html

Protestors will try to bring London to a stand still on April 2-3 when the G20 meets

http://www.independent.co.uk/news/uk/home-news/g20-protesters-will-try-to-bring-london-to-standstill-1650588.html

Canadian government warning their people to be prepared to survive 72 hours without help in almost every newscast

http://getprepared.gc.ca/index-eng.aspx

UN, China and Russia talking about getting rid of the dollar as currency reserves

http://www.reuters.com/article/usDollarRpt/idUSLJ93633020090319

http://www.reuters.com/article/newsOne/idUSTRE52H2CY20090318

Until next time…………..

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