Amazon Deals

Message Board

Notes from Larry:

I wish to thank those of you who come to this site even though I have been absent for quite some time. This site has a very important purpose. There is much to say and much to hear from all of you.

For those of you who might be wondering about m;y health, I am happy to report that I have fully recovered and am healthier and stronger then I have been in over 20 years. My health was not my reason for my absence. I just needed some time away and appreciate your understanding. I will, however, be back right after the New Year.

Please contact me at of you would like to participate. There is a lot happening and -
"Together We Can and Must Make A Difference".
Many of you have important messages and information the public needs to see. This can be your forum too. Email them to: or volunteer to post to:
Media Inquiries: media
General Info:
Volunteer Info:
To Larry:

November 13, 2010

Barack Obama's Quantitave Easing Explained So Everyone Can Understand It

Quantitative Easing.  What does it mean? 

Most people don't understand it.  It is a fancy term for printing more money - $600 Billion more.  I don't know about you but to me printing more money means what I have will be worth less and what I buy will cost more.  This plan of total transfer of wealth excellerated under the Bush Administration is continuing under the"Change We Can Co9unt ON" Obama Administration.  I guess the slogan is correct, "change we can count...".  All we will have left is the change in our change jars that we will count when we wrap it up to go to the groceryl store.

One of our dedicated volunteers over at our sister site posted a GREAT, I mean GREAT video explaining Quantitative Easing.  It is in cartoon format and is not only easy to understand, makes the point understood but is also funny.  It is a MUST WATCH for educational and entertainment purposes.  My hat is off to whoever created it and to Joyce for finding it and posting it.

To watch the here



    Jamie Dimon and Robert Rubin: Evasive on "Fraud as a Business Model"

    Corrupt people in Congress and corrupt regulators cannot intervene for the banks this time. Banks have to face state courts, and many Attorneys General are happy to take them on.

  2. It means bens friends get rich...and the people can go suck eggs....

    Sat. Nov. 13 2010 |
    Tammy and her husband applied for a loan modification last year and were granted a trial modification. At the time, they were advised to stop making mortgage payments for 2 months. Now their FICO scores have been ruined, they've been denied a permanent modification and they are facing foreclosure.

  3. James Grant: How to make the dollar sound again

    By disclosing a plan to conjure $600 billion to support the sagging economy, the Federal Reserve affirmed the interesting fact that dollars can be conjured. In the digital age, you don't even need a printing press.

    This was on Nov. 3. A general uproar ensued, with the dollar exchange rate weakening and the price of gold surging. And when, last Monday, the president of the World Bank suggested, almost diffidently, that there might be a place for gold in today's international monetary arrangements, you could hear a pin drop.

    Let the economists gasp: The classical gold standard, the one that was in place from 1880 to 1914, is what the world needs now. In its utility, economy and elegance, there has never been a monetary system like it.

    It was simplicity itself. National currencies were backed by gold. If you didn't like the currency you could exchange it for shiny coins (money was "sound" if it rang when dropped on a counter). Borders were open and money was footloose. It went where it was treated well. In gold-standard countries, government budgets were mainly balanced. Central banks had the single public function of exchanging gold for paper or paper for gold. The public decided which it wanted.

  4. Singularity

    From my perspective, an "economic recovery" that requires a tripling in the Fed's balance sheet, continues to average 450,000 new unemployment claims weekly, and relies on fiscal stimulus to counter utterly stagnant personal income, is ipso facto (by the fact itself) not a "standard" economic recovery. We have swept an enormous volume of bad debt under rugs, behind dams, and in back of curtains (not to mention in off-balance sheet vehicles such as Maiden Lane that were created by the Federal Reserve). But it is all effectively still there, festering. Meanwhile, our policy makers are trying to reignite financial bubbles in order to create an illusory "wealth effect" to propagate spending patterns that were inappropriate in the first place.

    It is a bizarre notion that a credit crisis can be solved by bailing out lenders while doing nothing about the obligations on the borrower side. Think about it - what we have said to lenders is, here you have these homeowners who can't pay for their houses. Foreclose on them, sell the homes at half the price, and the public will make you whole (largely through Treasury bailouts to Fannie and Freddie, made necessary by Federal Reserve purchases of these securities).

    Heck, if the public is going to be on the hook anyway, at least notice that at equivalent cost to the public, the mortgage could simply be written down to half its value, with the homeowner now able to pay the balance off and the lender getting the public handout to make up the difference. But of course, that would reward the homeowner. So instead, we simply make the lenders whole while people lose their homes and foreclosure investors flip the homes at a profit in return for providing liquidity at the auction. That way, the same amount of public funds can be spent through the back door without Congress even getting involved.