cypherdoc (OP)
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July 22, 2011, 04:26:42 PM |
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RodeoX
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The revolution will be monetized!
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July 22, 2011, 05:03:16 PM |
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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.
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spruce
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July 22, 2011, 05:09:09 PM |
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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.
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cypherdoc (OP)
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July 22, 2011, 05:15:16 PM |
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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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ctoon6
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July 22, 2011, 05:16:25 PM |
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1e12 can buy 3.3e7, 3e4 cars. that is about 4% of the estimated 7e8 cars on the road today.
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nostrum
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July 22, 2011, 05:33:50 PM Last edit: July 22, 2011, 06:01:20 PM by nostrum |
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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 off the US national debt
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If you always think in categories you will miss the bigger picture. -------------------------------------------------------------- Public GPG: 04351826
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cypherdoc (OP)
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July 22, 2011, 05:36:54 PM |
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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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Phinnaeus Gage
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Bitcoin: An Idea Worth Spending
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July 22, 2011, 05:37:42 PM |
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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
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foggyb
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July 22, 2011, 05:40:06 PM |
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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. I believe you have just cornered the sugar market.
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Hey everyone! 🎉 Dive into the excitement with the Gamble Games Eggdrop game! Not only is it a fun and easy-to-play mobile experience, you can now stake your winnings and accumulate $WinG token, which has a finite supply of 200 million tokens. Sign up now using this exclusive referral link! Start staking, playing, and winning today! 🎲🐣
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Rassah
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July 22, 2011, 06:43:41 PM |
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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.
To give you an idea of how much $16 trillion is... imagine every man, woman, and child in the US having $53,000 in their bank account, then put all those bank accounts together. Or imagine every single Chinese person being owed about $12,300 Or imagine everyone in US having to pay $562 a month for ten years straight to pay off that loan at 5% interest. It's A LOT, but not A LOT when compared to the scale of a whole country. 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) Question, though. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said. Also, this part doesn't really make much sense... Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street." ...since working families don't have the credit rating or substantial assets to qualify for such high volume, low interest loans I thought the fed was an independent entity, not a federal agency?
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cypherdoc (OP)
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July 22, 2011, 06:54:27 PM |
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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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compro01
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July 22, 2011, 07:14:47 PM |
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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.
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TiagoTiago
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July 22, 2011, 07:31:16 PM |
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Wait, so the money is gone or are they gonna get it back with interests?
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(I dont always get new reply notifications, pls send a pm when you think it has happened) Wanna gimme some BTC/BCH for any or no reason? 1FmvtS66LFh6ycrXDwKRQTexGJw4UWiqDX The more you believe in Bitcoin, and the more you show you do to other people, the faster the real value will soar!
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cypherdoc (OP)
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July 22, 2011, 07:34:57 PM |
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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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Rassah
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July 22, 2011, 09:59:11 PM |
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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. Where does it say that this money is money borrowed from the government, and not owned the banks themselves, which the banks are keeping in excess of their own required reserves, simply because the Fed apparently pays them interest for that now? http://en.wikipedia.org/wiki/Excess_reserves
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oOoOo
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July 22, 2011, 10:29:41 PM |
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If that "loan" was in bitcoins, to lend out $16tr, each coin would have a value of $2,326,376.0151 USD. (as of July 23th 2011; with a supply of 6.877.650 coins)
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cypherdoc (OP)
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July 22, 2011, 11:34:06 PM |
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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. Where does it say that this money is money borrowed from the government, and not owned the banks themselves, which the banks are keeping in excess of their own required reserves, simply because the Fed apparently pays them interest for that now? http://en.wikipedia.org/wiki/Excess_reservesi don't quite understand your English but these excess reserves plus required reserves make up the monetary base as defined in the Wiki link you provided. the Fred graph i provided to you says the excess reserves total 16T which is about the amount the Sanders article was talking about and represents money printed by the Fed and given to the banks in exchange for subrprime loans, CDS, commercial loans, and other assorted toxic crap. if you look at that Fed balance sheet if these were "loans" as you claim they would be categorized as "Repurchase Agreements". note that they aren't and the balance is zero. i believe this toxic crap in buried in the "Securities Held Outright" and in categories like Maiden Lane, TALF, Aurora, ALICO holdings.
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ctoon6
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July 23, 2011, 02:29:05 AM |
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