U.S. Fed pumps $10 billion into financial system

[TexasLawyer]

Source: Xinhua

U.S. Fed pumps $10 billion into financial system

2007-08-30 23:14:46

WASHINGTON, Aug. 30 (Xinhua) -- The Federal Reserve pumped 10 billion U.S. dollars into the financial system on Thursday to help beat back a widening credit crisis.

Since Aug. 9, the U.S. central bank has injected a total of 147.25 billion dollars into the financial system to ease tightening credit stemming from the troubles in the high-risk subprime mortgage market, which offers loans to people with lower credit and income.

On Aug. 17, the Fed approved a half-percentage point cut in its discount rate on loans to banks to "promote the restoration of orderly conditions in financial markets."



Read more: http://news.xinhuanet.com/english/2007-08/30/content_6635074.htm

[angstlessk]

1. Hell, that's about the price of the war in Iraq n/t

[saigon68]

2. Nope that "Puppy" is at 448 BILLION $$$$$$$$$$$$$$$

http://www.nationalpriorities.org/Cost-of-War/Cost-of-War-3.html

[angstlessk]

6. I was referring to the amount of time that money was spent...

I know it is 1/2 trillion just in cash outlay for WAR..not to mention the other costs. I was refering to the amount spent in less than one month already!

[saigon68]

15. Yes you are correct

Money wasted by the "boat load"

[I_Will]

3. How does the Fed pump it back out? Seriously.

Over the past couple of weeks a seemingly enormous amount of "pumped" money has been put into the market.

If this is a temporary fix/float/flummoxer, does it ever come back out of the system? What happens when it does/doesn't?

[Demeter]

4. If We Were Dealing With Reality, by Taxing the Rich and Corporations

can you say "windfall profits tax"? How about progressive taxation?

I didn't think so.

[olddad56]

13. the super weathy take care of the 'pumping it back out'.

[Joe Bacon]

14. It comes out in the form of inflation

More dollars chasing the same goods = inflation.

Strap in folks, gonna be a bumpy ride!

[donkeyotay]

16. Quietly, the FED has accepted worthless paper instead of collateral

When the FED "pumps," aka "bails out billionaires," it requires collateral, traditionally assets like treasury notes. But some of the current bailout is making a market in otherwise worthless paper. My bet is that these paper loses will be held onto until no one is looking and then the loses passed on to US.

[Larry Ogg]

18. First of all the Fed i.e. the Federal Reserve Bank is not a part of the government,

it is and always has been a privately owned bank, owned by a handful of very evil and greedy men that make loans too the government and banks with money that does not exist, at interest. That’s right, all the fed does is simple sit down at a computer and credit the bank account of the government or other banks with billions of dollars that does not exist and there is little or nothing to back it up except debt and a promise to repay.

If you really want to know ware money comes from and how it will be paid back, watch these two videos. If you haven’t seen them before and you don’t know how our money system works, be prepared for the shock of you life.

http://video.google.com/videoplay?docid=-9050474362583451279&hl=en">Money As Debt 47 minutes long and very informative.

http://video.google.com/videoplay?docid=-515319560256183936&q=money+masters&total=1272&start=0&num=10&so=0&type=search&plindex=0"> The Money Masters 3:35 hours long, and will blow you mind.

[olddad56]

21. very true. and if you go to the Fed's official website, they will lie about that.

It is a group of 12 private banks. They let the govt. make some appointments and they report, occasionally to congress. They work hard to maintain the pretense that the Federal Reserve System is comprised of both public and private entities and that they operate not for profit. That is not the truth. In reality, they are privately owned. They control the government, not the other way around.

[HughBeaumont]

26. Been wanting to watch these two . . .

I'll bookmark and get them tonight. Thanks.

[Sgent]

33. They buy US Treasury Bond's

and pay for it with federal reserve notes (cash).

[Demeter]

5. 300 points for $10 billion/ NOT a Bargain

But smashing socialism for the rich.

[Highway61]

7. Just keep printing that money

that will fix everything.

"Everything is gonna be alright now, everything is gonna be alright"......Bob Marley

[LeFleur1]

8. Hmmmm

Capitalism isn't working?

Tax bailout?

[kineneb]

12. and invest in wheelbarrows

so that one can buy bread... shall we anticipate a Weimar repeat?

[formercia]

25. A Billion Marks to buy a loaf of bread.

I have a bubch of German postage stamps from that period. They were overprinted with astronomical values.

[Magleetis]

9. Cant have the rich folks

loosing money now can we.

[Magleetis]

28. Too late

to edit for spelling. Sorry.

[zbdent]

10. on top of the $30 Billion shoveled into the system not long ago

to keep investors happy ...

I kept saying, the Fed pumped that money into the system (that the US doesn't have ... just ask anybody who thought that $5 billion spent on childrens' minimal health care would get a good reception ...), the stockholders said "Thank you. May I please have another?" Well, they got their "another" ...

[poverlay]

11. Don't you love how the "market" self corrects? It's so magical. It's so amazing. The "market"

takes care of everything. Wow, I'm so impressed at the "market's" self-regulation. :sarcasm:
:freak:

[BootinUp]

17. They've pumped quite a bit of mullah in there

hope it helps, now can we talk about how to prevent the problem in the first place?

[rodeodance]

19. AGAIN!!

[dbt]

20. Jeebus. You'd think we'd hear this from our own "News" Media.

K & R

:evilgrin:

[JNelson6563]

22. Save the top 1%!!!!!!

Seriously. Out of some 3.4 trillion in assets the top 1% owns 2.9.

Julie

[slipslidingaway]

23. Just over 10 billion expired today...link

http://www.newyorkfed.org/markets/omo/dmm/temp.cfm

Look at the last 25 operations

[NMDemDist2]

24. lloks like they're running out of T-bills, most of it shows as "mortgage backed" the last

few days

:scared:

[slipslidingaway]

30. Yes, except today was 4.5 in Treasury and .5 mortgage backed

The last coupon pass, permanent as opposed to temporary, was back in May.

http://www.newyorkfed.org/markets/pomo/display/index.cfm

[fasttense]

27. Don't you just love it when the "free market" gets its free bailout.

And the excessively wealthy will piss down, I mean trickle down, their billions in bailout on the rest of us in the next, well 100 years or so.

[Javaman]

29. So we keep pumping fiat dollars in to the market, for what?

they are doing everything they can to stave off the inevitable collapse of the dollar.

The wars moron* fights are for oil, but also the bottom line is for money. To make money and to save the dollar from being revealed as being the fiat currency that it is.

Once upon a time the dollar was based on the gold standard. You trade in a buck you could get a bucks worth of gold, in theory.

Now it's based on oil. Petrodollars. The majority of the worlds oil is traded in U.S. currency. Iraq was invaded in the 1990's because they were switching over to euros. They were invaded again, because saddam was talking with the Europe again and the U.S. didn't care for that.
Now Iran is doing the same thing. They have already switched over a huge amount of their holdings to Euro's, Rubles and the Yuan.

The U.S. thus, has to bomb Iran to save the dollar.

There will be all sorts of shit happening in the world of war over the next ten years as the U.S. dollar loses more and more value.

By the fed pumping more dollars into the market, it continues to weaken it. Driving up inflation. Driving down it's value.

At some point, china will have to make a move. People scream and yell that if something is not done soon, china will begin dumping it's t-bonds and we will be in a world of shit. They don't have to do any such thing. China is dependant upon us to buy all their useless (and now very dangerous) plastic gewgaws to keep their growth spurt alive. All they have to do is to stop buying our debt. They currently buy our debt to the tune of 200 billion a month!! They stop buying, Japan and S. Korea will stop buying(they also hold huge portions of our debt, but no one likes to talk about them)When that happens the U.S. as we know it, does the slow death spiral into the world of shit. Or will be allowed to spiral down to a point where, because half our federal budget is devoted to the military, we will no longer be able to properly defend ourselves or more likely, weaken us to a point were we are put on a level playing field with china and russia.

Expect it folks, it's not a matter of if any longer.

[conspirator]

31. I want to print my own money too. It would be so nice n/t

[stressfulreality]

32. hey - can ya pass a bill my way?