Neel Kashkari explains TARP and Fractional Reserve Banking

[needparalegal]

His talking points are a steaming pile of bullshit to cover the theft of trillions.

[macroman52]

Update in 2010. 9/10 of the TARP money has now been recovered by the Treasury (loans repaid, assets sold). So all those reacting negatively to the TARP were wasting 9/10 of their indignation energy - it wasn't as bad as you feared.

[needparalegal]

@macroman52 Except that all that TARP money was used to buy distressed assets at bargain prices, not to lend to Main Street. Basically a huge giveaway to the rich.

[macroman52]

@needparalegal Who sold the assets, the rich or Main St? I am confused. How exactly did the rich gain by TARP (i.e. the taxpayers, the government, the treasury) buying assets at cheap prices. The taxpayers got cheap assets you say (sounds good for the taxpayer) so who sold these assets and how did those sales help the rich?

[needparalegal]

@macroman52 You sound like a smart guy, so you either a paid troll or extremely self deluded.

[macroman52]

@needparalegal That doesn't actually answer my question, so I still don't know what you think TARP did and why it was bad. I might agree with you if I udnerstood what you are trying to say.

[needparalegal]

@macroman52 Sorry Youtube does not provide enough space for me to teach you about how insurance can be used to bet on financial instruments and how that insurance can be leveraged endlessly to create new financial instruments based on that bet, nor about fractional reserve money creation. As an attorney I am qualified to teach... at an hourly rate. My billing rate at Perkins Coie was $400 an hour, but I will give you a substantial discount for a lesson in financial instruments.

[macroman52]

@needparalegal Wow! So you must know about argument from authority too.

[SilentNoMorePubs]

Forget the B.S. Watch the video WHY WE ARE IN SO MUCH DEBT for a clear, simple explanation of how our money (and our monetary system) destroys our prosperity.

[tothemax01]

@SilentNoMorePubs We know why we are in so much debt - debt is our money. The only solution is the due illegalisation of fractional reserve banking (aka creating false credit) by the supreme court, and correctly adhering to the constitution by declaring gold to be the monetary base.

[MastersOfInfinity]

These same assholes are the ones flying the UFOs.

Overthrow them.

[MrMick73]

watch?v=_dmPchuXIXQ  zeitgeist

[Rico8458]

this foreigner alien hindu has no right to tell the white people this crap.

[coolintake]

3:50 IS LAMAO....the guys is user friendly......he's a front for the pigs in the dark room calling the shots......tis all bout the benjamins baby!

[LawyerScumGhost]

debt=slavery... the banks conjured our chains out of thin air

[1tuuber]

@ LawyerScumGhost

Right. All of those "this-backed securities" and "that-backed securities," all the derivitives to toxic mortgages, etc.

All are nothing more than Casino Gambling Schemes. And the odds are totally "with the house" (as insider trading), in a major way.

The Federal Reserve Bunko, and the entire system, with the Wall Street Casino, are all total ILLUSIONS.

The only reason it all exists is because THEY purport that it does.

It's all criminal, AND REFUNDABLE.

[baconified]

Watch: Money as debt, and let Kashkari blow bubbles out of his ass. Also check out: The Money Masters. Hope you find it informative. Thanks.

[30percentplusreturns]

This kashkari guy is the biggest wanna be hank paulson. This guy is a crook who lied to congress. He should be in jail!!

[absoluteness99]

I think that all the parties involved in this circus should have their bank accounts audited, and should be questioned on every dime they made during that time.

[yubbayubba]

Agreed. This situation is absolutely insane.

[absoluteness99]

To Libertyerian: who doesn't have a gun nowadays! If you think that you can get glory using your gun, that's your own view and thanks for putting that out for the world to know your kind. I think that the senators and their cousins the CEOs, involved in this situation, are trying to steal taxpayers money and throw the blame on the Kashkari, tell me which one of them you are? Tyranny died when Bushs term ended. Dont think that everyone is a Nazi because youre one!

[sinisterredneckrabbi]

It's all theatre. The soundbites that make the news of irate congressmen grilling CEO's and this turd are just for public consumption. They ALL take campaign donations from big business. and none of them will EVER disclose their personal finances the way us common serfs would have to in an IRS audit. I won't advocate violence, but I doubt I'd walk across the street to piss on a burning congressman.

[FreedomFightersUnion]

Obama is already more of a tyrant than bush was; if you disagree, then you have some homework to do. Just look at every move he's made, every flip-flop, and every single person he brought in his cabinet. All ex-federal reserve board directors, ex-fannie mae and freddie mak CEO's. just look at Brzinzski for starters, he created he council on foreign relations and helped form the Tri-lateral commission. what are you going to say next, that these institutions are conspiracy theories?

[se7ensnakes]

@FreedomFightersUnion Obama is a sock puppet for the NWO. Notice that attacking libya, the health care reform, etc does not come from him, some group is telling him what to do. Is that not obvious? He is just a mouth piece. as far as fractional reserve banking it is pure evil because money creation, or a system that increases the money supply from M1 to M3 behind close doors, is terrible because they can bring the economy down and invest accordingly. The whole frac res is there to fleece

[absoluteness99]

This post and the one b4 it are replies to rhawk301

If they're crooks, then how come they got where they are now. They have a glorious yet difficult mission to accomplish, and I guess that if anyone was put in their situation, they would get all kind of names as it is human nature to fight over money.

Send me an official offer from the Treasury and I will be pleased to help you out.

[libertyerian]

They have guns. thats how you get success when youre a crook. Glorious? You sound like a Nazi. I hardly find tyranny to be glorious.

[LibertaerUeberAlles]

WINSTON CHURCHILL

"Germany's unforgivable crime before the second world war," Churchill said," was her attempt to extricate her economic power from the world's trading system and to create her own exchange mechanism which would deny world finance its opportunity to profit." (Churchill to Lord Robert Boothby, quoted in the Foreword, 2nd Ed. Sydney Rogerson, 'Propaganda in the Next War' 2001, orig. 1938.)

[absoluteness99]

Kashkaris are historically known as a nation of honor, honesty, science, and principles. Kashkaris are also natural born businessmen as they historically governed the supply of silk for the whole world, Kashkar or Kashgar was the starting point of the ancient Silk Road which spanned all the way to Africa and linked Asia to the rest of the world.

[rhawk301]

It looks like we may have a troll from the Treasury here. Its so nice to have you pay a visit to us. Neil and the gang at treasury are a bunch of crooks and need to be thrown in jail.

They are now stealing over 9 Trillion dollars off the original $700 billion via fractional reserve banking. Thats not trading, its theft.

[absoluteness99]

Dude you have a SERIOUS MATH ERROR that you need to review:

A billion is defined as a cardinal number represented in the U.S. by 1 followed by 9 zeros.

A trillion is a cardinal number represented in the U.S. by 1 followed by 12 zeros.

Check any U.S. dictionary for that!

HOW CAN YOU STEAL A TRILLION FROM A BILLION??%#$%!

I GUESS IT'S LIKE STEALING A $1000 FROM A $100 ??!@#$

So please get your numbers right before accusing anyone of stealing...?!!!

Read my other comments. :)

[rhawk301]

This is how fractional reserve banking works.

$750000000000 is the original Amount created from fiat with no physical holdings.

$675000000000 is the amount that can be used for loans, written as assets.

Further expansion, based on 10% reserves through the lifecycle of the money creates a total of $6,749,999,999,990.49 or roughly $6.75 Trillion.

[rhawk301]

and what I didn't say is that our current monetary system is not using a strict 10% reserve rule, which is why you can have more created than before.

[se7ensnakes]

@rhawk301

thats not correct. The 10% reserve requirement is for check book accounts only. The rest, the bulk of the money loaned, is actually money deposited in money markets and CDs which have no reserve requirements.

[absoluteness99]

Check Wikipedia for Mahmoud Al-Kashgari, who created one of the first encyclopedias for humanity. History proves you wrong splintercell99 dont be jealous of Kashkaris glories.  Check Wikipedia for any new information you came across today. Play your SplinterCell99 have some milk and go to bed, good boy!

[splintercell99]

kashkari = traitor