Since when do we bail out other countries? - DFWstangs Forums
 
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post #1 of 26 (permalink) Old 05-09-2010, 08:50 PM Thread Starter
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Since when do we bail out other countries?

http://finance.yahoo.com/news/Federa...&asset=&ccode=

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WASHINGTON (AP) -- The Federal Reserve late Sunday opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent.
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post #2 of 26 (permalink) Old 05-09-2010, 09:22 PM
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post #3 of 26 (permalink) Old 05-10-2010, 08:33 AM
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Since WW1?

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

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post #4 of 26 (permalink) Old 05-10-2010, 08:40 AM
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post #5 of 26 (permalink) Old 05-10-2010, 08:49 AM
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post #6 of 26 (permalink) Old 05-10-2010, 09:07 AM
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its not such a bad thing, suddenly things are so bad in europe that people actually want US dollars. it should boost the dollars value a little

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post #7 of 26 (permalink) Old 05-10-2010, 09:13 AM
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post #8 of 26 (permalink) Old 05-10-2010, 09:16 AM
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http://www.infowars.com/american-tax...-out-the-euro/

Our government needs our help, they have an addiction. Our government is addicted to our money. Since they always have our best interest at heart it's time we return the favor. We need to have an intervention, for the governments own good of course. It's just irresponsible for us to let people with a known money addiction continue to handle our money. Lets have an intervention now so we can help these sick individuals.
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post #9 of 26 (permalink) Old 05-10-2010, 12:16 PM
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Originally Posted by cannonball996 View Post
its not such a bad thing, suddenly things are so bad in europe that people actually want US dollars. it should boost the dollars value a little
Ummm...huge unsecured loan to a foreign country that has no fucking clue on how to manage their money? This is going to backfire. That like a guy on welfare hitting the lottery.

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post #10 of 26 (permalink) Old 05-10-2010, 12:29 PM
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post #11 of 26 (permalink) Old 05-10-2010, 12:42 PM
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Originally Posted by Grimpala View Post
Right...because that's worked so well in the past.

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #12 of 26 (permalink) Old 05-10-2010, 01:32 PM
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Ummm...huge unsecured loan to a foreign country that has no fucking clue on how to manage their money? This is going to backfire. That like a guy on welfare hitting the lottery.
its not actually a loan, its called a "swap line" and it works sort of like a secured bond. they sell us a quantity of their currency to the Fed in exchange for dollars, at a date in the future they will be required to buy back their currency at a price that was set when they first entered into this transaction. this whole transaction is secured by the foreign central bank, who actually administers the whole thing. from the US stand point it acts like a secured bond

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post #13 of 26 (permalink) Old 05-10-2010, 01:40 PM
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its not actually a loan, its called a "swap line" and it works sort of like a secured bond. they sell us a quantity of their currency to the Fed in exchange for dollars, at a date in the future they will be required to buy back their currency at a price that was set when they first entered into this transaction. this whole transaction is secured by the foreign central bank, who actually administers the whole thing. from the US stand point it acts like a secured bond
umm. still not secured. It's based off a huge "I promise I will buy back my money when our country turns around". You really think everything is going to change? This is much like California. They dug themselves a hole by being so giving to their people, they dont have any money. Now how can they fix it?

They have to dump pensions/healthcare/welfare/etc so they can stay afloat. The problem is, they wont. People will not take concessions and would rather see their country/state go to shit into bankruptcy than take less.

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post #14 of 26 (permalink) Old 05-10-2010, 01:52 PM
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post #15 of 26 (permalink) Old 05-10-2010, 03:07 PM
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umm. still not secured. It's based off a huge "I promise I will buy back my money when our country turns around". You really think everything is going to change? This is much like California. They dug themselves a hole by being so giving to their people, they dont have any money. Now how can they fix it?

They have to dump pensions/healthcare/welfare/etc so they can stay afloat. The problem is, they wont. People will not take concessions and would rather see their country/state go to shit into bankruptcy than take less.
Exactly right. The reason all the riots were going on, was that people were losing pay and perks. The gov't of Greece was trying to cut back and the takers would have none of it. I see this as just a prop-up loan. It's no cure...

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post #16 of 26 (permalink) Old 05-10-2010, 03:59 PM
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post #17 of 26 (permalink) Old 05-10-2010, 04:02 PM
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Quote:
Originally Posted by cannonball996 View Post
its not actually a loan, its called a "swap line" and it works sort of like a secured bond. they sell us a quantity of their currency to the Fed in exchange for dollars, at a date in the future they will be required to buy back their currency at a price that was set when they first entered into this transaction. this whole transaction is secured by the foreign central bank, who actually administers the whole thing. from the US stand point it acts like a secured bond
I want to put you on my ignore list just for being a completely naive moron, but you make me laugh way too hard.

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post #18 of 26 (permalink) Old 05-10-2010, 04:53 PM
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post #19 of 26 (permalink) Old 05-10-2010, 04:54 PM
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Originally Posted by 8mpg View Post
Ummm...huge unsecured loan to a foreign country that has no fucking clue on how to manage their money? This is going to backfire. That like a guy on welfare hitting the lottery.
I wonder if some of the Chinese are thinking the same thing?
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post #20 of 26 (permalink) Old 05-10-2010, 05:27 PM
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I wonder if some of the Chinese are thinking the same thing?
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post #21 of 26 (permalink) Old 05-10-2010, 06:44 PM
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umm. still not secured. It's based off a huge "I promise I will buy back my money when our country turns around". You really think everything is going to change? This is much like California. They dug themselves a hole by being so giving to their people, they dont have any money. Now how can they fix it?

They have to dump pensions/healthcare/welfare/etc so they can stay afloat. The problem is, they wont. People will not take concessions and would rather see their country/state go to shit into bankruptcy than take less.
if it was a loan and not secured the US would be giving the money directly to greece, thats not how it works. though for certain european countries their bail out of greece is a direct loan. what the US is doing is like a big currency swap that takes a set amount of time and acts like a line of credit. what happens can not meet the deadline? the dollar will gain value against the euro.

this is exactly how it works when the US borrows money and runs up the national debt. only this time the US is the lender

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post #22 of 26 (permalink) Old 05-10-2010, 08:52 PM
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Greece owes almost twice its GDP (91%). They have to borrow just to pay their debt! We're equally screwed but only on a 24% scale.

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post #23 of 26 (permalink) Old 05-10-2010, 09:17 PM
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Greece owes almost twice its GDP (91%). They have to borrow just to pay their debt! We're equally screwed but only on a 24% scale.
Could you clarify what you're talking about? Almost twice its GDP (91%)? Also, what US numbers are you talking about (24%)?

Thanks
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post #24 of 26 (permalink) Old 05-11-2010, 07:29 AM
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post #25 of 26 (permalink) Old 05-11-2010, 10:44 PM
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Quote:
Originally Posted by jw33 View Post
Since like, forever??????
If by forever, you mean the early part of last century, you're correct!

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

"[T]he people alone have an incontestable, unalienable, and indefeasible right to institute government and to reform, alter, or totally change the same when their protection, safety, prosperity, and happiness require it." --Samuel Adams


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post #26 of 26 (permalink) Old 05-12-2010, 02:51 AM
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Exactly right. The reason all the riots were going on, was that people were losing pay and perks. The gov't of Greece was trying to cut back and the takers would have none of it. I see this as just a prop-up loan. It's no cure...
Yet, even though that government would have people stop taking, they certainly would not ease up on what they take from the people. Another big problem with all of this.

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