do you know what the federal reserve is?

[Arraya]

Ben S. Bernanke testified on Capitol Hill just before being nominated to succeed Fed Chairman Alan Greenspan. (By Ron Edmonds — Associated Press)
By Nell Henderson
Washington Post Staff Writer
Thursday, October 27, 2005
Ben S. Bernanke does not think the national housing boom is a bubble that is about to burst, he indicated to Congress last week, just a few days before President Bush nominated him to become the next chairman of the Federal Reserve

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

Each Federal reserve bank shall keep itself informed of the general character and amount of the loans and investments of its member banks with a view to ascertaining whether undue use is being made of bank credit for the speculative carrying of or trading in securities, real estate, or commodities, or for any other purpose inconsistent with the maintenance of sound credit conditions; and, in determining whether to grant or refuse advances, rediscounts, or other credit accommodations, the Federal reserve bank shall give consideration to such information. The chairman of the Federal reserve bank shall report to the Board of Governors of the Federal Reserve System any such undue use of bank credit by any member bank, together with his recommendation. Whenever, in the judgment of the Board of Governors of the Federal Reserve System, any member bank is making such undue use of bank credit, the Board may, in its discretion, after reasonable notice and an opportunity for a hearing, suspend such bank from the use of the credit facilities of the Federal Reserve System and may terminate such suspension or may renew it from time to time.

The punishment for making false statements or reports that overvalue an asset is also stated in the U.S. Code:[58]

Whoever knowingly makes any false statement or report, or willfully overvalues any land, property or security, for the purpose of influencing in any way…shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

[Allan from Fallbrook]

[quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?

[Allan from Fallbrook]

[quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?

[Allan from Fallbrook]

[quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?

[Allan from Fallbrook]

[quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?

[Allan from Fallbrook]

[quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?

[jpinpb]

Hey. Here’s a law I’d LOVE to see enforced. Perfect example right here. Why create new laws? We have this one that exists that’s not even close to being enforced.

[jpinpb]

Hey. Here’s a law I’d LOVE to see enforced. Perfect example right here. Why create new laws? We have this one that exists that’s not even close to being enforced.

[jpinpb]

Hey. Here’s a law I’d LOVE to see enforced. Perfect example right here. Why create new laws? We have this one that exists that’s not even close to being enforced.

[jpinpb]

Hey. Here’s a law I’d LOVE to see enforced. Perfect example right here. Why create new laws? We have this one that exists that’s not even close to being enforced.

[jpinpb]

Hey. Here’s a law I’d LOVE to see enforced. Perfect example right here. Why create new laws? We have this one that exists that’s not even close to being enforced.

[Arraya]

[quote=Allan from Fallbrook][quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?[/quote]

Methinks they are smarter than they act, well, maybe a little delusional…

http://www.theoildrum.com/node/6542#comments_top

I am perplexed; I really cannot understand how the world’s economists and commentators on the present precarious global financial situation have not come to the conclusion that must be obvious to all persons who have followed peak oil.

snip

The debt information is pretty suggestive of what is going on, and that is, the reason the world has been able to keep increasing GDP since 2005 is because it has been borrowing from the future to fund the addiction to economic growth. But this situation cannot continue without serious problems in terms of repayment. And we have imminent peak oil, with the consensus dawning that soon after 2011 oil supply is highly likely to start declining with decline rates anywhere between 2% and 8% per annum.

The 64 trillion dollar question is what will happen to world GDP? Robert Hirsh in his 2008 Energy Policy paper has suggested that GDP will decline at around the same rate as oil supply, so if oil supply declines at 4% per annum then world GDP will also decline at 4% per annum. If the current ratio is anything to go on, then 4% decline in oil may produce an 8% decline in GDP, but the situation is not likely to be symmetric or for that matter linear. With a large debt hanging around it is also likely that the world monetary system is at risk of imploding (see Gail Tverberg’s recent posts on debt repayments in a situation of decreasing wealth. http://www.theoildrum.com/node/6439).

I would think that the people that control the money, might have a little information on the oil situation. I know intelligence think tanks have for decades. When we have the biggest bubble in the history of the world pop precisely at the moment world oil production peaks my little tin foil antenna charges up. A collapse of the world banking system acts pretty well as forced conservation plan in the face of oil shortages.

I wonder what our masters have planned next for us

[Arraya]

[quote=Allan from Fallbrook][quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?[/quote]

Methinks they are smarter than they act, well, maybe a little delusional…

http://www.theoildrum.com/node/6542#comments_top

I am perplexed; I really cannot understand how the world’s economists and commentators on the present precarious global financial situation have not come to the conclusion that must be obvious to all persons who have followed peak oil.

snip

The debt information is pretty suggestive of what is going on, and that is, the reason the world has been able to keep increasing GDP since 2005 is because it has been borrowing from the future to fund the addiction to economic growth. But this situation cannot continue without serious problems in terms of repayment. And we have imminent peak oil, with the consensus dawning that soon after 2011 oil supply is highly likely to start declining with decline rates anywhere between 2% and 8% per annum.

The 64 trillion dollar question is what will happen to world GDP? Robert Hirsh in his 2008 Energy Policy paper has suggested that GDP will decline at around the same rate as oil supply, so if oil supply declines at 4% per annum then world GDP will also decline at 4% per annum. If the current ratio is anything to go on, then 4% decline in oil may produce an 8% decline in GDP, but the situation is not likely to be symmetric or for that matter linear. With a large debt hanging around it is also likely that the world monetary system is at risk of imploding (see Gail Tverberg’s recent posts on debt repayments in a situation of decreasing wealth. http://www.theoildrum.com/node/6439).

I would think that the people that control the money, might have a little information on the oil situation. I know intelligence think tanks have for decades. When we have the biggest bubble in the history of the world pop precisely at the moment world oil production peaks my little tin foil antenna charges up. A collapse of the world banking system acts pretty well as forced conservation plan in the face of oil shortages.

I wonder what our masters have planned next for us

[Arraya]

[quote=Allan from Fallbrook][quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?[/quote]

Methinks they are smarter than they act, well, maybe a little delusional…

http://www.theoildrum.com/node/6542#comments_top

I am perplexed; I really cannot understand how the world’s economists and commentators on the present precarious global financial situation have not come to the conclusion that must be obvious to all persons who have followed peak oil.

snip

The debt information is pretty suggestive of what is going on, and that is, the reason the world has been able to keep increasing GDP since 2005 is because it has been borrowing from the future to fund the addiction to economic growth. But this situation cannot continue without serious problems in terms of repayment. And we have imminent peak oil, with the consensus dawning that soon after 2011 oil supply is highly likely to start declining with decline rates anywhere between 2% and 8% per annum.

The 64 trillion dollar question is what will happen to world GDP? Robert Hirsh in his 2008 Energy Policy paper has suggested that GDP will decline at around the same rate as oil supply, so if oil supply declines at 4% per annum then world GDP will also decline at 4% per annum. If the current ratio is anything to go on, then 4% decline in oil may produce an 8% decline in GDP, but the situation is not likely to be symmetric or for that matter linear. With a large debt hanging around it is also likely that the world monetary system is at risk of imploding (see Gail Tverberg’s recent posts on debt repayments in a situation of decreasing wealth. http://www.theoildrum.com/node/6439).

I would think that the people that control the money, might have a little information on the oil situation. I know intelligence think tanks have for decades. When we have the biggest bubble in the history of the world pop precisely at the moment world oil production peaks my little tin foil antenna charges up. A collapse of the world banking system acts pretty well as forced conservation plan in the face of oil shortages.

I wonder what our masters have planned next for us

[Arraya]

[quote=Allan from Fallbrook][quote=Arraya]

Criminal liar conspiring against the american people or blithering idiot? you be the judge…

[/quote]

Arraya: Why can’t he be both?[/quote]

Methinks they are smarter than they act, well, maybe a little delusional…

http://www.theoildrum.com/node/6542#comments_top

I am perplexed; I really cannot understand how the world’s economists and commentators on the present precarious global financial situation have not come to the conclusion that must be obvious to all persons who have followed peak oil.

snip

The debt information is pretty suggestive of what is going on, and that is, the reason the world has been able to keep increasing GDP since 2005 is because it has been borrowing from the future to fund the addiction to economic growth. But this situation cannot continue without serious problems in terms of repayment. And we have imminent peak oil, with the consensus dawning that soon after 2011 oil supply is highly likely to start declining with decline rates anywhere between 2% and 8% per annum.

The 64 trillion dollar question is what will happen to world GDP? Robert Hirsh in his 2008 Energy Policy paper has suggested that GDP will decline at around the same rate as oil supply, so if oil supply declines at 4% per annum then world GDP will also decline at 4% per annum. If the current ratio is anything to go on, then 4% decline in oil may produce an 8% decline in GDP, but the situation is not likely to be symmetric or for that matter linear. With a large debt hanging around it is also likely that the world monetary system is at risk of imploding (see Gail Tverberg’s recent posts on debt repayments in a situation of decreasing wealth. http://www.theoildrum.com/node/6439).

I would think that the people that control the money, might have a little information on the oil situation. I know intelligence think tanks have for decades. When we have the biggest bubble in the history of the world pop precisely at the moment world oil production peaks my little tin foil antenna charges up. A collapse of the world banking system acts pretty well as forced conservation plan in the face of oil shortages.

I wonder what our masters have planned next for us

[Author]

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