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The Fed Has Run Out Of Money !!!!!!!
geoffky
Posts: 6,835 Forumite
The Fed’s run out of money
Seriously. It’s broke. Here’s the statement from the US Treasury:
The Federal Reserve has announced a series of lending and liquidity initiatives during the past several quarters intended to address heightened liquidity pressures in the financial market, including enhancing its liquidity facilities this week. To manage the balance sheet impact of these efforts, the Federal Reserve has taken a number of actions, including redeeming and selling securities from the System Open Market Account portfolio.
The Treasury Department announced today the initiation of a temporary Supplementary Financing Program at the request of the Federal Reserve. The program will consist of a series of Treasury bills, apart from Treasury’s current borrowing program, which will provide cash for use in the Federal Reserve initiatives.
Announcements of and participation in auctions conducted under the Supplementary Financing Program will be governed by existing Treasury auction rules. Treasury will provide as much advance notification as possible regarding the timing, size, and maturity of any bills auctioned for Supplementary Financing Program purposes.'’
http://ftalphaville.ft.com/blog/2008/09/17/16019/the-feds-run-out-of-money/
Seriously. It’s broke. Here’s the statement from the US Treasury:
The Federal Reserve has announced a series of lending and liquidity initiatives during the past several quarters intended to address heightened liquidity pressures in the financial market, including enhancing its liquidity facilities this week. To manage the balance sheet impact of these efforts, the Federal Reserve has taken a number of actions, including redeeming and selling securities from the System Open Market Account portfolio.
The Treasury Department announced today the initiation of a temporary Supplementary Financing Program at the request of the Federal Reserve. The program will consist of a series of Treasury bills, apart from Treasury’s current borrowing program, which will provide cash for use in the Federal Reserve initiatives.
Announcements of and participation in auctions conducted under the Supplementary Financing Program will be governed by existing Treasury auction rules. Treasury will provide as much advance notification as possible regarding the timing, size, and maturity of any bills auctioned for Supplementary Financing Program purposes.'’
http://ftalphaville.ft.com/blog/2008/09/17/16019/the-feds-run-out-of-money/
It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
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Comments
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Hardly run out of money. That's the sound of money being printed.No reliance should be placed on the above! Absolutely none, do you hear?0
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So print some more. It's no big deal; unless you are a tree.
If this works out OK, most houses will be worth a million dollars
... & most people will be able to buy them for cash.
Job done.
PS same for the UK, so no worries
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Ive always wanted to be a millionaire- however, I thought Harare was the only place it would happen for poor lil me _pale_:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
The Fed and Treasury need to tread very carefully here. At the moment, US short term T-Bill rates are at their lowest since Pearl Harbor (0.02% yesterday at one point) but if they keep this up the bond vigilantes will be out in force.
Bring back Paul Volcker.0 -
LisbonLaura wrote: »So print some more. It's no big deal; unless you are a tree.
If this works out OK, most houses will be worth a million dollars
... & most people will be able to buy them for cash.
Job done.
PS same for the UK, so no worries
And the moral of this story - time to invest in trees
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It did occur to me that it might be a good time to invest in the banknote printers De La Rue.No reliance should be placed on the above! Absolutely none, do you hear?0
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Ive always wanted to be a millionaire- however, I thought Harare was the only place it would happen for poor lil me _pale_
It happened to me and OH - when we went to Turkey, there were about 1 million Lire to the £.
When I was working in Poland, for the first 4-5 months I was paid 7.2 million zloty a month. Then it fell to 720.......much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
Hardly run out of money. That's the sound of money being printed.
August figure of Greenbacks printed 1.39 trillion of them or 7.717 trillion on the broader measure of the money supply. Wonder what the figure will be for September?
;) Turn your face to the sun and the shadows fall behind you.0 -
LisbonLaura wrote: »If this works out OK, most houses will be worth a million dollars
There are many million dollaraires in the UK - which shows you how much the yanks have trashed their currency:rolleyes:Turn your face to the sun and the shadows fall behind you.0 -
'Helicopter' Ben Bernanke to the rescue! Free money for everybody!
poppy100
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