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Monday, March 30, 2009

Monsanto's Dream Bill, HR 875 is a Nightmare for the World

Partial Excerpt:
Our farmers are good stewards.  That is who is threatened by Rosa DeLauro's bill (and because of that, we all are).  At a time in this country when wise stewardship and the production of anything real - especially good food - is what is most needed, it is our best stewards whom Rosa DeLauro threatens, under the cruelly false name of "food safety."
And now Monsanto wants its own employee, Michael Taylor back in government, this time to act with massive police power as a "food safety tsar" from inside the White House.  This is the man who forced genetically engineered rBGH on us (unlabeled, and without warning) when the Clintons placed him over "food safety" in the 90s.  HR 875 would give him immense power over what is done on every single farm in the country and massive police state power to wield over farmers and punishments to break them at will.
The following quotes show Monsanto and its biotech ilk are not "stewards" at all.  Their inhuman focus on profit has led to inhuman, insane, sickening products that require intense corruption of democracy and science institutes and media, to foist them on country after country which don't want them. 
 End partial excerpt

Partial Excerpt:
"If some people are allowed to choose to grow, sell and consume GM foods, soon nobody will be able to choose food, or a biosphere, free of GM. It's a one way choice, like the introduction of rabbits or cane toads to Australia; once it's made, it can't be reversed." 
Roger Levett, specialist in sustainable development, "Choice: Less can be more",Food Ethics, Vol. 3, No. 3, Autumn 2008

"The hope of the industry is that over time the market is so flooded [with GMOs] that there's nothing you can do about it. You just sort of surrender."
Don Westfall, biotech industry consultant and vice-president of Promar International quoted in, "Starlink fallout could cost billions", Toronto Star, 9 January 2001


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Saturday, March 28, 2009

Jim Bramlett comments on the Hal Lindsey Report

 Jim Bramlett
   view archive 

'The Hal Lindsey Report'
Jim Bramlett
Mar 28, 2009

This week on 'The Hal Lindsey Report'
On this week's edition of "The Hal Lindsey Report," I'll share some thoughts about the importance of the current American and global economic crises in the light of end-times prophecy. I'll also report some of the latest unbelievable developments. 
President Obama showed up in Hollywood last week to do something that's never been done before. He appeared on "The Tonight Show with Jay Leno." He is the first sitting President to appear on a late night talk show. He pulled out all the stops and went into full campaign mode to promote his agenda. 
Speaking of Hollywood, if I wrote a movie script with some of the nutty shenanigans we're seeing in the Congress, I'd be laughed out of town. They would tell me that a good script needs to be at least 'plausible.' Apparently that's not a requirement for Congressional proposals. It's obvious to me that all the 2009 Oscars for best actors are already sown up. The winners will be Pelosi, Frank, Reid, and Dodd. The President won't be considered since he's in a league of his own. 
Seriously, though, I believe that the 'rage' over the AIG bonuses is manufactured and orchestrated to divert attention away from the misdeeds and incompetence of the government, past and present. Further, I think it's a diversion to allow quick passage of the President's budget and a tool to facilitate the inclusion of some of its more radical proposals. This $3.5 trillion budget poses a literal threat to our nation's future. The Congressional Budget Office estimates it will produce almost $10 trillion in deficits over the next decade," more than four times the deficits of the Bush presidency. Senator Judd Gregg says "our country will go bankrupt." 
Folks, we are facing serious challenges here in America. The Federal Reserve, with the Treasury's acquiescence, is issuing fiat currency at an unprecedented pace. $1 trillion in just the last few days. That means the value of the dollar is eroding rapidly. Russia and China are both calling for the US dollar to be replaced as the world's reserve currency. Even socialist Eastern European states are lecturing us about our wanton spending spree! And yet the new Administration plunges headlong toward its ambitious goals of nationalized health care, a redistribution of the wealth of its citizens, and the unionization and nationalization of our nation's financial systems and major corporations. 
We need to seek God earnestly for His mercy to be extended to our nation in these dark days. 
This week, I'll also report on the new threats facing Israel. A recent article in The International Herald Tribune describes Israel as the world's pariah nation. It identifies Israel's settlement on land it "captured in 1967," its "economic strangling of Gaza," and its "growing indifference toward a Palestinian state" as reasons why Israel has lost favor throughout the world. The writer argues that there is even a chill within the American Jewish community toward Israel. 
(Bramlett note: These next two paragraphs are especially revealing and ominous!)
And just this past week, the Chief of Staff of the Israeli Defense Forces visited Washington. He had vital information about Iran to share with his American counterparts. He cut short his visit after he was refused meetings with President Obama, Vice President Biden, Secretary of Defense Gates, Chairman of the Joint Chiefs Admiral Mullen, and National Director of Intelligence Blair. One diplomat said that the Americans didn't want to talk about Iran, they wanted to talk about Palestine!  
The Israeli news magazine, Israel Today, is reporting that its sources say that President Obama intends to "break America's long ties of friendship with Israel, and maybe even take steps toward the dissolution of the Jewish state." The Bible warns that it is a "fearful thing to fall into the hands of the living God." America has increasingly interfered in the affairs of the Israeli state, forcing it to give up its God-granted land to its enemy. Could it be that the crises we are now facing are the result of America's actions toward Israel? I'll share some thoughts on that.  
When you intercede for America, please pray for the peace of Jerusalem, too. 

Don't miss this week's Report on TBN, Daystar, Inspiration (cable only), CPM Network, various local stations, or 
God Bless You, 
Hal Lindsey 

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Friday, March 27, 2009


'Binary' meaning the first part is sitting undetectable in computers now, and the second part arrives April 1rst, or later, crashing PC's.
Macs should be o.k.  Keep your antivirus program updated!
Thanks to Larry Taylor, From the Edge Alerts, for this:
Emerency Alert from

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Thursday, March 26, 2009

Jerky internet, emails?

Several have mentioned trouble getting Yahoo, blogs, etc. and not working right.  Maybe more people are on the 'net?  Or, is there some electromagnetic influence happening that we should know about? Asteroid coming close? Are we all being spied upon?

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Federal CRIMINAL complaint filed re Eligibility

WND Exclusive
Federal criminal complaint contends Obama ineligible
Ex-officer alleges prez used 'contrivance, concealment, dissembling and deceit'

Posted: March 25, 2009
11:55 pm Eastern

By Bob Unruh
© 2009 WorldNetDaily
An ex-military officer has raised the stakes in the ongoing dispute over Barack Obama's eligibility to be president, filing a criminal complaint against the "imposter" with the U.S. attorney's office for the Eastern District of Tennessee.
Retired U.S. Navy officer Walter Francis Fitzpatrick III, who has run a campaign for two decades to uncover and try to correct what he believes are criminal activities within the military, accused the president of "treason."
In his complaint addressed to Obama via U.S Attorney Russell Dedrick and Assistant U.S. Attorney Edward Schmutzer, Eastern District, Tennessee, Fitzpatrick wrote: "I have observed and extensively recorded invidious attacks by military-political aristocrats against the Constitution for twenty years.
(Story continues below)

"Now you have broken in and entered the White House by force of contrivance, concealment, conceit, dissembling, and deceit. Posing as an impostor president and commander in chief you have stripped civilian command and control over the military establishment."
He cited the deployment of "U.S. Army active duty combat troops into the small civilian community of Samson, Ala.," and said, "We come now to this reckoning. I accuse you and your military-political criminal assistants of TREASON. I name you and your military criminal associates as traitors. Your criminal ascension manifests a clear and present danger. You fundamentally changed our form of government. The Constitution no longer works.
"I identify you as a foreign born domestic enemy," he wrote.
The 1975 graduate of the U.S. Naval Academy in Annapolis told WND that a short time after his complaint was filed he was visited by two U.S. Secret Service agents, but they left after telling him they perceived no threat to the president in the document.
Officials with the Knoxville office of the Secret Service told WND the only person who could release information to the media was on vacation and they would not comment on the issue.
Likewise, officials with the U.S. attorney's office declined to respond to a WND request for a comment.
Fitzpatrick told WND the U.S. Justice Department needs to look into the issue.
WND reported this week that officials at the Justice Department, along with those at the Supreme Court, confirmed that documentation in a case challenging Obama's eligibility had arrived and was scheduled for an evaluation.
That case is being handled by California attorney Orly Taitz, who is working through her Defend Our Freedoms Foundation to handle several cases raising questions over Obama's qualification to be president under the Constitution's demand that the office be occupied only by a "natural born" citizen.
Taitz was informed by Karen Thornton of the Department of Justice that all of the case documents and filings have arrived and have been forwarded to the Office of Solicitor General Elena Kagan, including three dossiers.
Fitzpatrick said he has devoted his career fulltime to investigating issues in military justice and defending wrongly accused soldiers, sailors and Marines. His own career was torpedoed by a court-martial more than 20 years ago over his authorization of the use of a ship's fund to sent an officer to the funeral for his brother, who had been killed by terrorists.
Fitzpatrick's situation has been described not only on his own website but forum pages on other websites that deal with military issues.
He alleges his case was fabricated and even his signature was forged by officials connected to his case. He points to the fact that he ultimately retired and was awarded a military pension as support for his allegations.
But he says the new complaint against Obama should define the issue of the president's eligibility.
"They either have to come and get me or get Mr. Obama's eligibility proved. He has an officer in his military saying he is guilty of trespass on the Constitution," Fitzpatrick told WND.
"They can recall me against my will to active duty," he said. "I would refuse. It's an illegal order by a man who is not by commander in chief."
WND has reported on dozens of civil case legal challenges to Obama's status as a "natural born citizen." The Constitution, Article 2, Section 1, states, "No Person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible to the Office of President."
Some of the legal challenges question whether he was actually born in Hawaii, as he insists. If he was born out of the country, Obama's American mother, the suits contend, was too young at the time of his birth to confer American citizenship to her son under the law at the time.
Other challenges have focused on Obama's citizenship through his father, a Kenyan subject to the jurisdiction of the United Kingdom at the time of his birth, thus making him a dual citizen. The cases contend the framers of the Constitution excluded dual citizens from qualifying as natural born.
Further, others question his citizenship by virtue of his attendance in Indonesian schools during his childhood and question on what passport did he travel to Pakistan three decades ago.
Adding fuel to the fire is Obama's persistent refusal to release documents that could provide answers. While his supporters cite an online version of a "Certification of Live Birth" from Hawaii, critics point out such documents actually were issued for children not born in the state.
Hawaiian officials have confirmed they have a birth certificate on file for Obama, but it cannot be released without his permission, and they have not revealed the information it contains.
John Eidsmoe, an expert on the U.S. Constitution working with the Foundation on Moral Law, has told WND a demand for verification of Obama's eligibility appears to be legitimate.
Eidsmoe said it's clear that Obama has something in the documentation of his history, including his birth certificate, college records and other documents that "he does not want the public to know."
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Will Jesus return when Obama is President?

Discern!  People will say anything to sell something, whether it's a budget or a book.   hmm...  Could be some truth in this, could be just a sales pitch.  Does any of it strike a bell? What do you think?


--- On Thu, 3/26/09, White Horse Media <> wrote:
Will Jesus return when Obama is President?
Date: Thursday, March 26, 2009, 5:43 PM

White Horse E-News - 03-26-2009

Will Jesus return when Obama is President?

Dear friend,


We had a GREAT RESPONSE to our last e-newsletter, which shows us that MANY PEOPLE are reading it. We also received LOTS OF ORDERS for books and DVDs offered at discount prices. The Lord is good.  


The book of Acts predicts, quoting Joel 2:28, that in "the last days… young men shall see visions… old men shall dream dreams" (Acts 2:17). A few days ago White Horse Media learned about a pastor in the 1980's who had a dream informing him that Jesus Christ would return during the time that America had a black president. Here are a few excerpts from the email we received:


"Back in the 1980s, Elder Jack Darnall… who ran an end-time training center to prepare people for end-time events, held a prayer meeting in his house. As the people were leaving, he called aside another man and said to him that he felt impressed to tell him an impressive dream that he had.

"In the dream, he dreamed that it was the time when Jesus returned to Earth in power and great glory. America had an African-American president (something unthinkable in the 1980s) when Jesus returned. He was tall and thin, with close-cropped hair and large ears. When elected, at first he was greatly beloved by the people, but then he became a terrible dictator. 


"The dream was not widely discussed, because at that time they could not see a black man being voted in as president with so much prejudice in the country still. 

"It was just a dream, but an unlikely one at the time... We are not saying Pastor Jack Darnall was a prophet. We are simply saying that he had a dream. It may have been from the Lord, after all, the Lord said that at the end-times 'your old men shall dream dreams.' Joel 2:28. Time will tell whether this dream fits into that category. File it away in the back of your brain for future reference."

Apparently, the story was verified to be true. In other words, Elder Darnall really did have this dream. There was another point in the dream worth mentioning: there would be one more pope after John Paul II.


As the above quote states, "Time will tell." At White Horse Media, we are not prophets. Neither do we jump at every dream we hear about. Nevertheless, we felt that this one was worth sharing for you to think about.


Here's another product special: Our "Hour of the Witch" DVD
(5 half-hour programs) and 217-page book reveal the hidden dangers of Wicca and how the current occult explosion is fulfilling Bible prophecy (see Duet. 18:9-11; Rev. 18:23; 21:8). Together, they normally retail for $24.95. Our e-news special is now only $18 (plus S & H). You can order by calling 1-800-782-4253. You must mention this offer.


"Watch therefore, for you know neither the day nor the hour in which the Son of Man is coming" (Matthew 25:13).




Steve Wohlberg






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Wednesday, March 25, 2009

Large California earthquake on the way ?

I'm curious, why does this article mention that "the Earthquake Lady", Kate Hutton, is a lesbian?  What does that have to do with earthquakes? Is it peculiar to 'Signs of the Times' ??
The CEPEC believes that there is a 1% to 5% chance of a large earthquake (magnitude 7.0 or greater) on the San Andreas Fault over the next few days. 

The California Emergency Management Agency (Cal EMA) issued a warning to operational Red Cross areas throughout the state yesterday after a 4.8 magnitude earthquake that occurred three miles south of Bombay Beach, Imperial County at 4:55 am. Although there were no damages or injuries reported as a result of this event, The U.S. Geological Survey has been tracking an "unusual sequence" of over 50 aftershocks, that have been clustered about 1 to 3 kilometers southwest of a projected extension of the San Andreas Fault, in the Salton Sea area. The majority of the magnitudes have been less than 2.5, although ABC has reported magnitudes as high as 3.5. Cal EMA recommended to the Red Cross that operational areas reach out to raise awareness of the events, and "ensure the readiness of systems essential to emergency operations". 

Out lesbian Kate Hutton, aka The Earthquake Lady, is the CalTech Seismologist who is constantly sought by the media for her professional commentary regarding major Earthquakes, especially in Southern California. 

"Swarms in the Imperial Valley are not a big deal," she said in regards to the Salton Sea quakes. "We're used to that. The reason that this one, and another one in 2001, got significant attention from us is that it's very close to the San Andreas Fault." 

The San Andreas Fault is the notorious fault that falls on a tectonic plate which links the Pacific Plate and the North American Plate. 

Cal EMA said in their issued warning:
Based on scientific data, and the fact that these most recent earthquakes have been in close proximity to the San Andreas Fault, there is increased concern that these earthquakes could trigger a large earthquake (M7.0 +) on the San Andreas itself. Historically, a major earthquake on this southern portion of the San Andreas Fault has not occurred in over 300 years, so the probability of a large earthquake is thought by seismologists to be higher than on portions of the fault that have ruptured more recently (e.g. in 1857 and 1906).
Just a few months ago The Great Southern California Shakeout simulated what would happen if that happened on the San Andreas Fault. 

Kate Hutton said:
"The fictional 7.8 earthquake that was the scenario for the shakeout drill started right here, OK? And this whole section hasn't broken since 1680, probably, so that's the reason for the close eye that we keep on it. It's another straw on a camel's back, but we don't know how many are there and we don't know how many a 'camel' can hold."
As each day passes the risk of a large San Andreas earthquake decreases. 

Cal EMA says that they will continue to monitor the situation and keep in contact with CEPEC scientists over the next few days.
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Tuesday, March 24, 2009

The MESS-iah is defending a $3,600,000,000 Budget

Why does he have to defend it?  He does no wrong!!!!!

Obama speaks on crisis

Pres. Obama says his administration is attacking the economic crisis on all fronts.» Defends $3.6 trillion budget

Do you know what a Trillion dollars looks like?
Take a look:
and here:
    1 trillion 260 billion one dollar bills weighs 3 trillion 465 billion tons. ..."
How about Three trillion plus dollars?  Can the average taxpayer fathom that?  Does the average taxpayer know what it will cost their children and grandchildren?  Where did we get trillions of dollars?  Where is it going to come from?  China?  We already owe the Red Dragon billions of dollars - they are worried about us paying them back.  So... they have been given 'eminent domain' over our properties as collateral.  
Isn't that wonderful? 

What's a trillion dollars?

A trillion dollars = $1,000,000,000,000.

That's 12 zeroes to the left of the decimal point. A trillion is a million million dollars.

The U.S. government spends more than the entire Gross Domestic Product (GDP) of Australia, China and Spain combined. If you laid one dollar bills end to end, you could make a chain that stretches from earth to the moon and back again 200 times before you ran out of dollar bills! One trillion dollars would stretch nearly from the earth to the sun. It would take a military jet flying at the speed of sound, reeling out a roll of dollar bills behind it, 14 years before it reeled out one trillion dollar bills.

What is frightening is that government will continue to grow in America unless citizens prevent it. If government stays on the course it's been on for the past forty years without a radical change, the federal government will have a $10 TRILLION BUDGET by the year 2010.

Foolish politicians make pronouncements about the strength of the economy. The total debt obligation of the United States now exceeds 46 TRILLION DOLLARS.

American workers now net almost 30 percent less in real wages than they did in 1973. After taxes, two paychecks in a family barely equal the purchasing power one had thirty years ago.

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Friday, March 20, 2009

Is this the end of America? - Full Comment - Terence Corcoran


Terence Corcoran: Is this the end of America?
Posted: March 19, 2009, 7:45 PM by NP Editor
U.S. law-making is riddled with slapdash, incompetence and gamesmanship
By Terence Corcoran
Helicopter Ben Bernanke's Federal Reserve is dropping trillions of fresh paper dollars on the world economy, the President of the United States is cracking jokes on late-night comedy shows, his energy minister is threatening a trade war over carbon emissions, his treasury secretary is dithering over a banking reform program amid rising concerns over his competence and a monumentally dysfunctional U.S. Congress is launching another public jihad against corporations and bankers.

As an aghast world — from China to Chicago and Chihuahua — watches, the circus-like U.S. political system seems to be declining into near chaos. Through it all, stock and financial markets are paralyzed. The more the policy regime does, the worse the outlook gets. The multi-ringed spectacle raises a disturbing question in many minds: Is this the end of America?

Probably not, if only because there are good reasons for optimism. The U.S. economy has pulled out of self-destructive political spirals in the past, spurred on by its business class and corporate leaders, the profit-making and market-creating people who rose above the political turmoil to once again lift the world out of financial crisis. It's happened many times before, except for once, when it took 20 years to rise out of the Great Depression.

Past success, however, is no guarantee of future recovery, especially now when there are daily disasters and new indicators of political breakdown. All developments are not disasters in themselves. The AIG bonus firestorm is a diversion from real issues , but it puts the ghastly political classes who make U.S. law on display for what they are: ageing self-serving demagogues who have spent decades warping the U.S. political system for their own ends. We see the system up close, law-making that is riddled with slapdash, incompetence and gamesmanship.

One test of whether we are witnessing the end of America is how many more times Americans put up with congressional show trials of individual business people and their employees, slandering and vilifying them for their actions and motives. And for how long will they tolerate a President who berates business and corporations as dens of crime and malfeasance? If the majority of Americans come to accept the caricatures of business as true, then America is closer to the end of its life as a global leader, as a champion of markets and individualism.

But America is at risk in other ways, especially in the technical business of setting and executing policy. The presidency of Barack Obama has set out on a course that has no precedent in U.S. history. Franklin D. Roosevelt, whose New Deal transformed the U.S. economy during the Great Depression, pushed America off on a sharply different political and ideological course. The Obama administration is different in many ways, not least in its supreme self-confidence in its methods and objectives.

Reform of health care, environmental policy, education, energy, banking, regulation — every nook and cranny of the U.S. economy has been put on alert for major change. Expansion of government spending, plunging the U.S. into unprecedented deficits, is without parallel. In economic policy, through regulation and control of energy output, financial services and monetary expansion, the U.S. government has embarked on a fundamental reshaping of America. It is designed, in short, to bring on the end of America.

The spillover effect of all this on the rest of the world promises to be dramatically disruptive. The greatest global risk is in monetary and currency policy. Below is a chart that graphically demonstrates the sharp deviation in monetary policy from past norms. Under the chairmanship of Ben Bernanke, the Federal Reserve is in the midst of a giant economic experiment, flooding the world with U.S. dollars, hoping that flood will stimulate economic activity.

The total monetary base, already at astronomical levels, is now expected to take another big hit with the new Fed policy of buying up U.S. longer-term treasury bills in a bid to drive down long-term interest rates.

Mr. Bernanke is sometimes known as "Helicopter Ben" because he once in an academic paper referred to the use of "helicopters" full of money to rescue an economy from deflation. In comments Wednesday to explain the Fed's new policy of buying $300-billion in U.S. treasury bills, Mr. Bernanke noted that the Fed is now more worried about inflation being too low than about it getting too high in the future.

For the rest of the world, however, the worry is that America is at risk of becoming the fountainhead of a new inflationary outburst. The U.S. dollar is now in decline, gold is moving sharply higher, and new global currency turmoil is on the horizon.

It may not happen. A paper just published by the Federal Reserve Bank of St. Louis, source of the chart above, says that the Fed will have to be prepared to absorb all the excess money it has poured into the U.S. economy. It will be a technical and political challenge unlike any central bank has ever undertaken. The future of America is at stake.
For more from this author, visit the FP Comment blog | Subscribe to feed
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by seine
Mar 19 2009
8:22 PM
Over the past 35 some years the world has been building a financial system based on paper, without any foundation whatsoever. It is actually surprising it took this long for the house of cards to collapse.
A return to an honest gold-based currency, while painful would leave us with an intact production system and stability would return. The current effort to resurrect the failed fiat currency will be more costly than fixing the system. To trust the people now in control to solve the financial problems smoothly is naive at best. As you say Terence, these "ageing self-serving demagogues " only know how to be dishonest.
We can only hope someone wakes up in the next short while.
by IainGFoulds
Mar 19 2009
8:22 PM
... Though a fair consideration, America will recover despite the intervention and interference of the present Democratic administration.
... Though America has elected a president who is a sworn opponent of the economic foundations of their nation, he was only elected because he is a man of great charm, and a gift for public speaking. Also, he rode a media generated wave of hatred against the Republicans, and was competing against a very weak opponent in McCain. Still, he became president by only the slimmest margin.
... Though neglected, the roots of enterprise, initiative, and personal responsibility remain strong in America. This week's decision by Gov. Palin to refuse much of the offered "stimulus" money is a sign of this strength.
... Obama and the Democrats will be gone in a few years, leaving only a trail of destruction and debt, yet America will recover.
by Nath_BC
Mar 19 2009
8:31 PM
Terence your ignorance of American strength and history is truly astonishing or you are just being like many contributors to the FP simply political crap. You were silent when all this mess was brewing under Bush administration and I suspect you would still be silent or cheerleading the bail outs if McCain had won the election and the Republicans were still in power. Yes things are messy and Obama is trying to fix it and his using the media to explain is part of the process. You should listen to him carefully and may learn something. Under Regan the US became a debtor nation from being a Creditor nation for a long time and none of you or your friends said a critical word. In fact you still consider him to be the great president. What bull?
Mar 19 2009
8:49 PM
Excellent analysis TC.
I have been arguing the dangers of such experimental monetary policy for a couple weeks now.
The long-term harm from such policy is not even being considered in the search for short term stability.
Canada is in a position of strength, in terms of inflation, liquidity and employment.  Quantitative easing should be avoided here-no sense adding to the inflationary (and currency) bonfire.  
by RayL
Mar 19 2009
11:00 PM
Seems like emperors and the Pope build things, populists tear them down.  Obama is a populist.  
by Neilio74
Mar 20 2009
12:03 AM
Good article Mr. Corcoran.
Gold was up about $70/ounce today, I keep double checking that figure because it doesn't seem right.  The gold market is very telling and perhaps it is now the leading indicator (as the equity markets flail around).
by ZeeBC
Mar 20 2009
12:39 AM
Hyper inflation has to follow Obamanomics.
"In an effort to promote liquidity and boost the economy, the Federal Reserve yesterday announced plans to grow the money supply by another 50 percent to 60 percent. This ignores the profound observation of Gen. George Patton: "You can't push a string."
When the Fed expands the money supply, it doesn't pass out $100 bills on Broadway. It gives lines of credit to banks and other financial intermediaries to generate some money and also buys up Treasury bills in circulation to pump out more cash.
But the money supply has already expanded by 271 percent in the past five months. Why does the Fed expect what hasn't worked to suddenly start working?
Right now, there is about $800 billion plus currency in circulation sitting in wallets, purses and cash registers around the country. Another $800 billion is sitting in a vault at the Federal Reserve Board, for a total monetary supply of about $1.6 trillion.
In a vault? Yes. When Congress voted the TARP program to bail out banks, the banks actually took only a small part of the money. The rest they used to offset losses on their balance sheets while letting the Fed hold onto the money.
Why didn't the banks want the money? Because they're not about to make loans in this economy. They're more than happy to let the cash sit at the Fed earning them interest. (The Fed decided to start paying interest last November).
So now the Fed will, in essence, be creating another trillion of money supply to sit in the vault alongside the $800 billion already there. The new money will remain idle for the same reason the old money has because banks won't make loans in this environment."
by ZeeBC
Mar 20 2009
1:24 AM
"But the money supply has already expanded by 271 percent in the past five months."
>> Someone checked the Reserve site where expansion was 27.1% for 3 months. Looks like a period was dropped.
by alancoman
Mar 20 2009
2:04 AM
I really wonder how it is possible that Nath_BC can never get it right.
Dear Nath, if life is so much better in communism/socialism, why aren't you in Zimbabwe or N Korea (or Cuba) now?
Socialism fails because nobody has any incentive to contribute (since the contribution is taken away and shared with others). This deficit spending propagated by Obama will come and bite him in the ass.
Obama will make Carter look like a good president.
by seine
Mar 20 2009
2:22 AM
I'd be really surprised if the teeth marks will stop with Mr. Obama. And they will most likely draw blood.
Yes Mr. Peanut looks somewhat less disastrous. Cheers, we may need it.
by pneves
Mar 20 2009
3:51 AM
In the immortal words of Thomas Edison "I have seen several depressions in the past and each time America has come out stronger then when it went in". Don't count out the US. They have something in their society that Canadians have never had. A go get em attitude. And that attitude has served them well in the past.  We can learn a great deal from them in terms of our own society. Its too bad Canadians are so closed minded and keep thinking they are smarter then the Americans.  That arrogance is misplaced.  
We forget that we were on the same path that they were. We were just five years behind them and thats why we escaped the worst of this particular recession so far. If our banking system had collapsed like theirs we would end up being in far worse shape. Our politicians wouldn't have the ability to fix it.
As I look back at all the decisions made in our country over the last 20 years I question our politicians decisions. But the thing is if we were in the Americans shoes our politicians would be too stubborn not reverse the bone headed decisions that got us there.  
by Matt W.
Mar 20 2009
4:21 AM
I agree we should never count the US out, but I worry that the go-get-em attitude is starting to turn into a hows-about-you-just-bring-it-to-me attitude.
by pneves
Mar 20 2009
4:52 AM
Matt W.
I attended a conference in the US last month called startup weekend. It  was a group of 150 people who attended that conference at the google offices in Seattle. I was amazed at how fast things happen down there. How fast these people move to get their product and service to market as truly remarkable site. Where else would you be able to start a company in just 2 days. I know of at least one group that had turned a profit by the end of the second day.
Over the years in my profession I have talked to tens of thousands of Americans.  I've long since learned that the US is a place of extremes. That countries best people are better then the best Canadian. However the flip side of that is also true. Their worse are also worse then any Canadian. I will bet on Americas best. Its a good place to put my money.
by Barneyrubble
Mar 20 2009
7:11 AM
To the American Republican sympathizers:  If Bush was such a great president then why wasn't another Republican elected to replace him?
Recessions and depressions are sometimes hard to fix and can last a long time. This is a banking crisis caused by Reagan/Bush free market capitalism excesses. And, part of its characteristics is a lack of confidence; a lack of faith in the banks themselves and a lack of belief by the banks that they will be able to make money in a weak economy, hence the hoarding of cash.
Obama is in the wrong place at the wrong time. If a Republican was president I do not think much would be different. There would still be a Federal Reserve Bank and there would still be Ben Bernanke. There would be bailouts and they would look much the same as we have now. What is the difference you might enquire?  Well, on top of the money for the banks and everybody else there would be even more money for war.  And, gold would be pushing towards 2 thousand dollars an ounce and not one thousand.  And, the war in Gaza might have gone on a little longer as well.

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18/03/09: This week, Canada's Minister of State for Science and Technology, Gary Goodyear, refused to say whether he believed in evolution. Then he said he did - but without linking it to Darwin or Natural Selection. Is this whole thing a media witch hunt or a matter of legitimate concern? The National Post's Jonathan Kay and Colby Cosh clash over the (possibly creationist) chiropractor of Cambridge.
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