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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (372453)	7/11/2010 9:56:37 PM
From: MichaelSkyy	Read Replies (2) \| Respond to of 793917

They borrow money from the Fed at near zero rate, and use the money to buy treasuries -- and collect the difference in interest. Very weird system. The ultimate PONZI Scheme????

To: skinowski who wrote (372453)	7/11/2010 11:18:41 PM
From: Joe Btfsplk	1 Recommendation Respond to of 793917

Very weird system Fascinating rerun today with Jack Cashill, author of Popes and Bankers: A Cultural History of Credit and Debt, from Aristotle to AIG on booktv.org. Watch at booktv.org Wide ranging study, but one thing really struck me. He claims the conspiracy theories emanating from the secret 1910 meeting at Jekyll Island resulting in the Fed are largely accurate, says the bankers managed to offload risks to the government while retaining the vigorish. Or words to the effect. Damn! Another book I'll have to fit into my schedule.