The OMG! 16 TRILLION IN LOANS!!!!!! is outright dishonest reporting and political grandstanding. the 16 trillion number is the total of all loans, including overnight loans (which are exactly what they sound like. they're repaid the next day). it's like saying i loaned you $1000 if i actually loaned you $125 each day, which you repaid in the morning. the most loaned at any time was a bit more than 1 trillion. furthermore, if one takes a moment to go look at page 4 of the actual report, practically all have been repaid in full, with about 57 billion still outstanding. thats BS. explain this: http://www.research.stlouisfed.org/fred2/graph/?chart_type=line&s[1][id]=EXCRESNS&s[1][range]=5yrs these are "banks" excess reserves gotten from the bailout money which has NOT been paid back. |
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Also, do note they are "loans" not "grants." It's a bailout, but it's not a giveaway, and as we already know, has actually ended up being somewhat profitable for the government (repaid interest)
http://www.federalreserve.gov/releases/h41/current/h41.htm#h41tab9it is a giveaway initially disguised as a loan. instead we've bought them outright. that column called "Repurchase agreements" says zero. this is where "loans" would've gone. |
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$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.
All I know is that it would be more than enough to pay of the US national debt  the figure i remember offhand is that 12T would've paid off every mortgage in America. Ellen Brown in a recent podcast said that 12T also was enough to pay off all state debt in America. just imagine if all that dead weight was allowed to be purged from the system. no doubt it would have been bad but we'd be coming out of it right about now in a full fledged recovery. |
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$16 trillion!
To give you an idea of how much 16 trillion is, I cant give you an idea of how much 16 trillion is.
Imagine a sugar cube, one cm on a side. It comes in a cubic box 10cm on a side, 1000 in a box. Stack the boxes up in a cube, 10x10x10, or 100cm (1 meter) on a side, and you've got a million sugar cubes. A cube 10 meters on a side and you've got a billion sugar cubes. A cube 100 meters on a side and you've got a trillion sugar cubes. A block 400 meters on a side and 100 meters high and you've got 16 trillion. thats alot of sugar cubes. |
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The value of bitcoins are pegged against USD.
Therefore...
Sorry "L33T LIEK JEFFK", that is incorrect. There is no 'peg', only a floating exchange rate determined by the market. Measured in USD as well as in EUR, GBP, CAD, LRU, SLL, CNY, AUD, JPY |
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Ƀ works in Wordpad; thanks. not in URL though. (Win7)
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i'm missing something for URL entry in Windows:
by "alt" you mean hold down the "Alt" button then type "579"? that doesn't work for me.
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is there a way to input on Windows and Mac?
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so now that Bernanke has declared that gold is not money, do they let Bernard Nothoff off on his counterfeiting charge?
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This top might help generate awareness.  awareness of what?  |
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looks nice.
where can i find some or your latest writings? (last 2 wks or so)
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BTC was invented by Satoshi to provide an alternative to a devaluing currency called the ...
Satoshi mostly wanted to provide a private and secure currency that were p2p, decentralized and can't be controlled. He didn't really care about value. i'm not sure i agree with this... Bitcoins can have huge inflations as we saw recently, in early June, I was able to buy a HD6990 with 25 BTC, now I must pay like 60 BTC for it.
BTC has been trading like a penny stock. with time, maturity, and growth it will become more steady. |
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what else is there to say?
Quite a lot, if you're implying that that bitcoin is currently enjoying a more stable valuation than USD. The 10-day moving average (10MA) for bitcoin has fluctuated from 14.3USD to 12.8USD. That's about an 11% fluctuation. Compare that to something like the USD -> Euro exchange for the same period, 0.713 to .7028. That's about a 0.9% fluctuation. I'm not going to say it's bad or good, right or wrong, all I am saying is consider a 10-fold difference in pricing volatility. Thank you for injecting more reality into this thread. "BTC rock steady", seriously? sure i'm serious. compared to the previous 6 mo yes. i think this should give merchants alot more confidence in accepting btc for payment. |
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what else is there to say?
Quite a lot, if you're implying that that bitcoin is currently enjoying a more stable valuation than USD. The 10-day moving average (10MA) for bitcoin has fluctuated from 14.3USD to 12.8USD. That's about an 11% fluctuation. Compare that to something like the USD -> Euro exchange for the same period, 0.713 to .7028. That's about a 0.9% fluctuation. I'm not going to say it's bad or good, right or wrong, all I am saying is consider a 10-fold difference in pricing volatility. i think thats b/c BTC is such an immature concept. overall tho since its inception, the volatility has damped down significantly. this is what we need. |
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Short term yay. Long term is means nothing.
i have to admit that longterm i hope it means EVERYTHING. |
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BTC was invented by Satoshi to provide an alternative to a devaluing currency called the ...
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what else is there to say?
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folks, you have convinced me I need to come out with a new plain coin with no website advertising. I'll post more details when I know them.
excellent news! let us know when you're ready and i'll order some. |
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Uploading it NOW: The 1st ever French language Le Bitcoin Show! Host: David Francois. Guest: Mark Karpeles of MtGox.com / Paris + Tokyo!
how about an English translation? |
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