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The lending merry- go- round

Discussion in 'Anything Goes Coffee Shop' started by Ohioan, Oct 18, 2012.

  1. Ohioan

    Ohioan Well-Known Member

  2. Carl

    Carl Well-Known Member

    Too funny with a smattering of truth!
     
  3. readyforhome

    readyforhome Well-Known Member

    DOH! Truth, but painful truth.
     
  4. IamPJ

    IamPJ Well-Known Member

    True for sure, but awfully funny!
     
  5. Joe B

    Joe B Well-Known Member

    The well known saying is, 'putting good money after bad' !
    The trouble with being a part of the Euro is that individual countries no longer have the option to devalue which was a useful tool.

    As a Brit what really gets me is that we are bailing out euro countries even though we are not members of the single currency.
    Somehow don't see Europe coming to the rescue of the £sterling if we were struggling?

    Still, good post and enjoyed the humour in getting across a realistic truth.
     
  6. Ohioan

    Ohioan Well-Known Member

    The USA also helps to bail out the Euro by means of the International monetary fund, where do we get the money to bail them out, we print it as far as I know, and then the US taxpayer is on the hook for the amount lent.

    By the way, our Federal Reserve System is not Federal and there is no reserve, it is owned by private banking institutions.

    The Fed is the best counterfeiting system in the world. The Fed orders the treasury department to print the money, the Fed is charged for the ink and paper used to print the money.
    The government, which is us the people of the US, then are liable for the amount printed up by the treasury. There is no value to our money, that is, it is only backed up by the faith of the people who have it and that faith is becoming less all the time!
     

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