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- Thread starter IaGary
- Start date
Traditional Farmer
Well-known Member
- Location
- Virginia
Meat goat market is still pretty good sold 10 bucks that weighed around 80lbs each
last Saturday at the local goat auction bought an average of just over $170 each.
last Saturday at the local goat auction bought an average of just over $170 each.
(quoted from post at 10:59:46 12/17/15) The Fed's raising the interest rates seem to affect everything one way or another.
And they say they are scheduling more hikes. That's going to kill off the so called "recovery" which is only a recovery if you figure inflation the way the gov't does, by not looking at food prices among other things. The only saving grace we have is low fuel prices at the moment.
Part of me wonders if they are trying to create another crisis.
Traditional Farmer
Well-known Member
- Location
- Virginia
Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
(quoted from post at 08:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
I remember paying 16% interest on a house and glad to get it as the rates were sky high. And your dollar bought less and less every day. Some how, I dont understand your statement. Bank loans were high. Business loans and bonds were high, and all those costs were passed to the consumer. Yes you made more money in the savings account, but would buy you less at the end of the year.
Folks on low or a fixed income were screwed, blued and tatooed... Most were down to eating dog food. Only union workers with "cost of living" were protected at the expense of everyone else.
(quoted from post at 10:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
The interest thing is arguable. If people actually had savings accounts I'd agree. But people don't and they're actually losing value by keeping money in the bank anymore. The deliberate devaluing of the dollar makes the dollar of 20 years ago worth far less than it would be if just normal inflation was considered. That is how the national debt is being financed, by paying back $1.00 with a dollar worth 50 cents, so to speak.
What will hurt people is all the loans/credit they have that is tied to the prime. Yeah, it'd be great to get 2% on a savings account again, but it will be lost when the 4.5% or 6.0% loan tied tot he prime just to 8%or 10%. Or your variable rate credit card that jumps from 13.9% to 16.9%. I don't think folks realize the amount of unsecured debt (credit cards) that is out there. The numbers are staggering. And once the cost of borrowing rises, the cost will be passed on down tot he consumer. Having the Feds rate so low for so long has made it "normal" to get money for "free". If interest rates come up appreciably, and they have to, things are going to get worse because the Fed, and the gov't, seems to think that just because Wall St is doing good, it must follow the rest of the nation is on solid footing. Nothing could be further from the truth.
Folks on low or a fixed income were screwed, blued and tatooed... Most were down to eating dog food. Only union workers with "cost of living" were protected at the expense of everyone else.
Why would a certain group of workers getting a good wage hurt the rest of the economy? Those same workers most likely took their money to town and spent it. Money is no good if it isn't spent. Having money to spend, and spending it is what helps move the economy. Would it be better for the economy if everyone's wages were dropped to minimum wage every time the economy tanks?
(quoted from post at 21:10:57 12/18/15)(quoted from post at 10:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
The interest thing is arguable. If people actually had savings accounts I'd agree. But people don't and they're actually losing value by keeping money in the bank anymore. The deliberate devaluing of the dollar makes the dollar of 20 years ago worth far less than it would be if just normal inflation was considered. That is how the national debt is being financed, by paying back $1.00 with a dollar worth 50 cents, so to speak.
What will hurt people is all the loans/credit they have that is tied to the prime. Yeah, it'd be great to get 2% on a savings account again, but it will be lost when the 4.5% or 6.0% loan tied tot he prime just to 8%or 10%. Or your variable rate credit card that jumps from 13.9% to 16.9%. I don't think folks realize the amount of unsecured debt (credit cards) that is out there. The numbers are staggering. And once the cost of borrowing rises, the cost will be passed on down tot he consumer. Having the Feds rate so low for so long has made it "normal" to get money for "free". If interest rates come up appreciably, and they have to, things are going to get worse because the Fed, and the gov't, seems to think that just because Wall St is doing good, it must follow the rest of the nation is on solid footing. Nothing could be further from the truth.
The Federal Reserve Bank is where this nation borrows it's money. By keeping the interest rates low it helped spur the economy. Think of it as buying money at a discounted price, and investing it in things like businesses, new homes, auto's, and so forth. The Fed bank has kept the interest rate low too long now, and they are starting to lose money. When they lose money they don't have any money to invest in the economy. It has to come up sooner or later for that reason. Anyone that doesn't have any long term loans locked in for thirty years are only asking for trouble.
(quoted from post at 23:49:43 12/18/15)(quoted from post at 21:10:57 12/18/15)(quoted from post at 10:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
The interest thing is arguable. If people actually had savings accounts I'd agree. But people don't and they're actually losing value by keeping money in the bank anymore. The deliberate devaluing of the dollar makes the dollar of 20 years ago worth far less than it would be if just normal inflation was considered. That is how the national debt is being financed, by paying back $1.00 with a dollar worth 50 cents, so to speak.
What will hurt people is all the loans/credit they have that is tied to the prime. Yeah, it'd be great to get 2% on a savings account again, but it will be lost when the 4.5% or 6.0% loan tied tot he prime just to 8%or 10%. Or your variable rate credit card that jumps from 13.9% to 16.9%. I don't think folks realize the amount of unsecured debt (credit cards) that is out there. The numbers are staggering. And once the cost of borrowing rises, the cost will be passed on down tot he consumer. Having the Feds rate so low for so long has made it "normal" to get money for "free". If interest rates come up appreciably, and they have to, things are going to get worse because the Fed, and the gov't, seems to think that just because Wall St is doing good, it must follow the rest of the nation is on solid footing. Nothing could be further from the truth.
The Federal Reserve Bank is where this nation borrows it's money. By keeping the interest rates low it helped spur the economy. Think of it as buying money at a discounted price, and investing it in things like businesses, new homes, auto's, and so forth. The Fed bank has kept the interest rate low too long now, and they are starting to lose money. When they lose money they don't have any money to invest in the economy. It has to come up sooner or later for that reason. Anyone that doesn't have any long term loans locked in for thirty years are only asking for trouble.
And where does the Fed get it's money? Treasury bonds and securities and bank deposits. The Fed lends borrowed money. The Fed does not invest in the sense we think. They do the same thing Wall St does- they hedge on bets on the world scale. They lend and borrow from foreign entities. But they don't answer to anyone, not really. Yeah, Congress can threaten an audit, but it will never actually do it. If they did they'd have to publish the findings and that would collapse the world economy. Or at least that's my guess. Look at what an audit can and can't do and tell me there isn't massive smoke and mirrors in play-
Audits of the Reserve Board and Federal Reserve banks may not include:
transactions for or with a foreign central bank or government, or nonprivate international financing organization;
deliberations, decisions, or actions on monetary policy matters;
transactions made under the direction of the Federal Open Market Committee; or
a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items (1), (2), or (3)
(quoted from post at 15:07:08 12/19/15)(quoted from post at 23:49:43 12/18/15)(quoted from post at 21:10:57 12/18/15)(quoted from post at 10:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
The interest thing is arguable. If people actually had savings accounts I'd agree. But people don't and they're actually losing value by keeping money in the bank anymore. The deliberate devaluing of the dollar makes the dollar of 20 years ago worth far less than it would be if just normal inflation was considered. That is how the national debt is being financed, by paying back $1.00 with a dollar worth 50 cents, so to speak.
What will hurt people is all the loans/credit they have that is tied to the prime. Yeah, it'd be great to get 2% on a savings account again, but it will be lost when the 4.5% or 6.0% loan tied tot he prime just to 8%or 10%. Or your variable rate credit card that jumps from 13.9% to 16.9%. I don't think folks realize the amount of unsecured debt (credit cards) that is out there. The numbers are staggering. And once the cost of borrowing rises, the cost will be passed on down tot he consumer. Having the Feds rate so low for so long has made it "normal" to get money for "free". If interest rates come up appreciably, and they have to, things are going to get worse because the Fed, and the gov't, seems to think that just because Wall St is doing good, it must follow the rest of the nation is on solid footing. Nothing could be further from the truth.
The Federal Reserve Bank is where this nation borrows it's money. By keeping the interest rates low it helped spur the economy. Think of it as buying money at a discounted price, and investing it in things like businesses, new homes, auto's, and so forth. The Fed bank has kept the interest rate low too long now, and they are starting to lose money. When they lose money they don't have any money to invest in the economy. It has to come up sooner or later for that reason. Anyone that doesn't have any long term loans locked in for thirty years are only asking for trouble.
And where does the Fed get it's money? Treasury bonds and securities and bank deposits. The Fed lends borrowed money. The Fed does not invest in the sense we think. They do the same thing Wall St does- they hedge on bets on the world scale. They lend and borrow from foreign entities. But they don't answer to anyone, not really. Yeah, Congress can threaten an audit, but it will never actually do it. If they did they'd have to publish the findings and that would collapse the world economy. Or at least that's my guess. Look at what an audit can and can't do and tell me there isn't massive smoke and mirrors in play-
Audits of the Reserve Board and Federal Reserve banks may not include:
transactions for or with a foreign central bank or government, or nonprivate international financing organization;
deliberations, decisions, or actions on monetary policy matters;
transactions made under the direction of the Federal Open Market Committee; or
a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items (1), (2), or (3)
I do agree that the Federal Reserve bank is a sticky situation, but you have to remember that it's where our countries money originates.
(quoted from post at 11:17:02 12/19/15)(quoted from post at 15:07:08 12/19/15)(quoted from post at 23:49:43 12/18/15)(quoted from post at 21:10:57 12/18/15)(quoted from post at 10:37:01 12/18/15) Actually low interest rates hurts the average American as all the cheap money is going to
finance the 'boom' on Wall Street and the US National Debt.The cheap money makes everyone's savings account worth less every day.Americans may as well get used to the idea of a much lower standard of living and the bad things that come with being
almost 19 Trillion$ in debt.As Don Meredith used to sing on MNF 'The Party's Over'.
The interest thing is arguable. If people actually had savings accounts I'd agree. But people don't and they're actually losing value by keeping money in the bank anymore. The deliberate devaluing of the dollar makes the dollar of 20 years ago worth far less than it would be if just normal inflation was considered. That is how the national debt is being financed, by paying back $1.00 with a dollar worth 50 cents, so to speak.
What will hurt people is all the loans/credit they have that is tied to the prime. Yeah, it'd be great to get 2% on a savings account again, but it will be lost when the 4.5% or 6.0% loan tied tot he prime just to 8%or 10%. Or your variable rate credit card that jumps from 13.9% to 16.9%. I don't think folks realize the amount of unsecured debt (credit cards) that is out there. The numbers are staggering. And once the cost of borrowing rises, the cost will be passed on down tot he consumer. Having the Feds rate so low for so long has made it "normal" to get money for "free". If interest rates come up appreciably, and they have to, things are going to get worse because the Fed, and the gov't, seems to think that just because Wall St is doing good, it must follow the rest of the nation is on solid footing. Nothing could be further from the truth.
The Federal Reserve Bank is where this nation borrows it's money. By keeping the interest rates low it helped spur the economy. Think of it as buying money at a discounted price, and investing it in things like businesses, new homes, auto's, and so forth. The Fed bank has kept the interest rate low too long now, and they are starting to lose money. When they lose money they don't have any money to invest in the economy. It has to come up sooner or later for that reason. Anyone that doesn't have any long term loans locked in for thirty years are only asking for trouble.
And where does the Fed get it's money? Treasury bonds and securities and bank deposits. The Fed lends borrowed money. The Fed does not invest in the sense we think. They do the same thing Wall St does- they hedge on bets on the world scale. They lend and borrow from foreign entities. But they don't answer to anyone, not really. Yeah, Congress can threaten an audit, but it will never actually do it. If they did they'd have to publish the findings and that would collapse the world economy. Or at least that's my guess. Look at what an audit can and can't do and tell me there isn't massive smoke and mirrors in play-
Audits of the Reserve Board and Federal Reserve banks may not include:
transactions for or with a foreign central bank or government, or nonprivate international financing organization;
deliberations, decisions, or actions on monetary policy matters;
transactions made under the direction of the Federal Open Market Committee; or
a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items (1), (2), or (3)
I do agree that the Federal Reserve bank is a sticky situation, but you have to remember that it's where our countries money originates.
With all due respect, no sir, it does not. Our nations currency originates at the Treasury Dept. They hold the gold that backs our currency, not the Fed, not that there's actually enough gold to back the monetary base we have at this time. The Fed is supposed to be an oversight committee that controls the ebbs and flows of the economy in general so that we don't have "panics" and depressions (ie- it can advise the Treasury to contract or expand the amount of money in circulation or alter the lending rates) and to act as a central clearing house for banks as far as checking and transfers go. Yes, it "lends" money, but it has no wealth of it's own, or at least it isn't supposed to. And that's the sticking point really. We don't know what they have or don't have or who they've lent to or borrowed from. They "lend" borrowed money but we never really know, at least at the average Joe level, where it comes from or what it costs the Fed.
Too many people think the Fed is on "our side". I don't see it that way. The Fed is on the side of the major power brokers and central banks. They are really more of a world bank player than a US entity anymore. I guess I'm just not the trusting type when it comes to a few people controlling EVERYTHING.
caterpillar guy
Well-known Member
Well Bret you need to reread your history. Roosevelt confiscated the gold during the depression. Nixon took us off the gold standard. Reagan allowed the public to own gold again in person. The real tangible gold not paper stocks or bonds of gold.
The Federal Reserve is owned by big bankers not the government. They also control the supply of money in the market.
The Federal Reserve is owned by big bankers not the government. They also control the supply of money in the market.
(quoted from post at 16:57:00 12/19/15) Well Bret you need to reread your history. Roosevelt confiscated the gold during the depression. Nixon took us off the gold standard. Reagan allowed the public to own gold again in person. The real tangible gold not paper stocks or bonds of gold.
The Federal Reserve is owned by big bankers not the government. They also control the supply of money in the market.
I grew up hearing about FDR confiscating private gold and ruining my great grandparents. I know the history. There is a difference between backing a currency with precious metals, having a currency tied to a precious metals standard and private ownership of the same metals. It's all been a fiat currency for decades. It only has value because we all agree it has value.
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