THE BORE
General => The Superdeep Borehole => Topic started by: Human Snorenado on February 10, 2009, 08:42:34 AM
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[youtube=560,345]_NMu1mFao3w[/youtube]
http://www.youtube.com/watch?v=_NMu1mFao3w
(fun starts at about 2:10 into the video)
That's US Rep. Paul Kanjorski, D-PA, who talks about his and other congressional leaders' meeting with Paulson and Bernanke. In a span of 2 hours on September 18th, 550 billion dollars was withdrawn from US money market accounts in and electronic run on the banks. If you'll remember, this is the day money market accounts were temporarily shut down and the FDIC insurance limit was doubled to $250k per account. By their best estimation, if these steps hadn't been taken, 5.5 trillion would have been drawn out of the US money market system causing the US economy to collapse, and within 24 hours probably taking down the world economy as well.
So we were about 3 hours from eating our children, pretty awesome.
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the thought that i might actually live to see fallout 3 played out in real life makes my balls tingle a little
does that make me evil
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Oh well, maybe next time. :(
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That's crazy. gold standard annihilated.
This makes the fact that the first bailout vote failed even more aggregious
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So maybe McCain was right to suspend his campaign and ditch Letterman and head back to Washington with a stop by Katie Couric before he left. Time to call for a special election so that we can right the wrong we committed on November 4. I'm sure President Obama would agree.
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the thought that i might actually live to see fallout 3 played out in real life makes my balls tingle a little
does that make me evil
Nah, it wouldn't be fun like Fallout 3- no super mutants, ghouls or Nuka Cola.
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yes but cannibalism
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that's a shame
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yes but cannibalism
except we internet nerdlings would be the first in the stew. :(
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nuh-uh, i got guns
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I got guns n' dogs, and a crosbow.
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:bow
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
Regis & Oprah
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
That wasn't a planned event. Bill Gates and Warren Buffett just had lunch.
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That wasn't a planned event. Bill Gates and Warren Buffett just had lunch.
Must have been some lunch. Are you calling them fat?
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That's crazy. gold standard annihilated.
???
If anything it reinforces the gold standard since every dollar withdrawn would have to have gold to physically represent it.
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i guess typing the words "gold standard" here is the equivalent of saying beetlejuice three times
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That wasn't a planned event. Bill Gates and Warren Buffett just had lunch.
Must have been some lunch. Are you calling them fat?
Bill Gates had a steak made out of 24 carat gold and Warren Buffett had a latte made out of liquid diamonds. Plus, I hear that they tip really well.
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That's crazy. gold standard annihilated.
???
If anything it reinforces the gold standard since every dollar withdrawn would have to have gold to physically represent it.
the inflexibility of the gold standard would have caused the economy to collapse much sooner. In addition, tying a currency to a physical good essentially nullifies monetary policy. It favors currency stabilization, which I will admit is an admirable goal, in favor of sacrificing flexibility and monetary policy, as well as eliminating regular business cycles and natural inflation.
*sorry if I hijacked your thread TCC
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
(http://papundits.files.wordpress.com/2008/11/20081103_bin_laden.jpg)
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That is scary shit
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
(http://papundits.files.wordpress.com/2008/11/20081103_bin_laden.jpg)
speaking of, last night, Foxnews.com had an article about experts warning that Bin Laden's next target would be forests, causing forest fires and calling it "forest jihad"
(http://www.foxnews.com/images/root_images/020909_firejihad.jpg)
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So joining the ranks of dirty infidels are rabbits, deer, and insects.
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That's crazy. gold standard annihilated.
???
If anything it reinforces the gold standard since every dollar withdrawn would have to have gold to physically represent it.
the inflexibility of the gold standard would have caused the economy to collapse much sooner. In addition, tying a currency to a physical good essentially nullifies monetary policy. It favors currency stabilization, which I will admit is an admirable goal, in favor of sacrificing flexibility and monetary policy, as well as eliminating regular business cycles and natural inflation.
*sorry if I hijacked your thread TCC
Not at all, I'll always throw down for some FoC/libertopian pwnage.
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i guess typing the words "gold standard" here is the equivalent of saying beetlejuice three times
:rofl
Thanks Eel..you just made my day.
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wtf..does FoC just sit around all day hoping for someone to say "gold standard"? He doesn't post for weeks but always magically appears soon as that is said. It is fucking creepy.
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infowars :yuck
although it does sound suspicious
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(http://www.foxnews.com/images/root_images/020909_firejihad.jpg)
:rofl "forest jihad" :rofl
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infowars :yuck
although it does sound suspicious
that's how bank runs work, through the wisdom of crowds. However, since it has already been shown that several big players have more or less manipulated stock prices of competitors during this time through the credit default swap market, I would not completely write off some collusive behavior or manipulation.
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
(http://papundits.files.wordpress.com/2008/11/20081103_bin_laden.jpg)
speaking of, last night, Foxnews.com had an article about experts warning that Bin Laden's next target would be forests, causing forest fires and calling it "forest jihad"
(http://www.foxnews.com/images/root_images/020909_firejihad.jpg)
You know, it's funny. These people they go to sleep, they think everything's fine, everything's good. They wake up the next day...and they're on fire.
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October 10th was the day Britain almost broke. Good to see we are leading the way once again.
USA USA
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http://www.cnbc.com/id/15840232?video=1027496846&play=1
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I have to say that I'm pretty unimpressed with Geithner's plan. Just nationalize the banks already, you're going to have to do it. I guess it's not politically feasible unless we're looking at another economic implosion, which might give you 2 or 3 Republican votes. 2010 can't come fast enough, they should get to 60 then.
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Voinovich's seat (Ohio R senator) will definitely go blue in 2010. Probably Lee Fisher - http://en.wikipedia.org/wiki/Lee_Fisher
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Voinovich's seat (Ohio R senator) will definitely go blue in 2010. Probably Lee Fisher - http://en.wikipedia.org/wiki/Lee_Fisher
I'm expecting Florida and NH to go blue as well, and possibly Missouri. Although MO is tricky, always close elections out there- Carnahan/Ashcroft, McCaskill, 2008 general.
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$550 billion in 2 hours? Sounds like a a planned event. But by who?
Must... not... quote... avatar... :-X
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You're not impressed with Geithner's plan to create a plan?
Just be patient. Check back with him in a few weeks.
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Honestly, I think that Obama's tendency towards caution could be what dooms him... if he's gonna be doomed, which I'm not sure. He's tended towards boring, safe centrists for people he's listening to. He could have put ONE genuinely progressive economist in his cabinet or on his economic board, but instead went with Geithner and Summers, who for all intents and purposes are the same person, just one is less abrasive. Krugman may not be "tempermentally suited" to government service (read: he would call the other side idiots when they're being idiots instead of "the distinguished gentleman" or whatever) but Stiglitz was out there, Roubini was out there and Galbraith was out there. These are big problems that call for big solutions, not half-assed "plans to make a plan" and ineffective stimulus packages that are probably too small by half and too focused on ineffective tax cuts.
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I'm expecting Florida and NH to go blue as well, and possibly Missouri. Although MO is tricky, always close elections out there- Carnahan/Ashcroft, McCaskill, 2008 general.
i'm proud my vote helped a dead guy beat Ashcroft
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Agreed with Roubini. Maybe he'll still bring him on.
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It's been a typical Democrat presidency so far. Pissed off conservatives, pissed off gays and pissed off socialists.
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It's been a typical Democrat presidency so far. Pissed off conservatives, pissed off gays and pissed off socialists.
I'm in two of those groups.
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you're a gay conservative?
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It's been a typical Democrat presidency so far. Pissed off conservatives, pissed off gays and pissed off socialists.
Yet Andrew Sullivan loves him, go figure.
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you're a gay conservative?
gay for socialism.
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Agreed with Roubini. Maybe he'll still bring him on.
You'd want him listening to someone who says we HAVE to nationalize the banks? I mean, I'm all about it but you?
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you're a gay conservative?
gay for socialism.
we have lots of gay socialists in canada too.
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Agreed with Roubini. Maybe he'll still bring him on.
You'd want him listening to someone who says we HAVE to nationalize the banks? I mean, I'm all about it but you?
He has been right with just about everything so far. No sense in ignoring him now.
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since when have republicans ever trusted experts! :o
this is a new day (http://img.photobucket.com/albums/v233/MastahCrushed/Emote/emot-smug.gif)
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:bow (http://img.photobucket.com/albums/v233/MastahCrushed/Emote/emot-smug.gif) :bow2
smug emoticon is smug
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http://money.cnn.com/news/specials/storysupplement/ceopay/
:-X
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i knew i should have gone into business at college instead of "nothing"