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ECON Holy Cow! Fed REPO operations sharply accelerating
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  1. #41
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    Quote Originally Posted by Countrymouse View Post
    You're not getting it.

    The "cash" we live on, monthly, COMES, partially, from the INTEREST on our savings.
    With all due respect CM you are not getting it and if you don't start to quickly relearn you and your husband are going to lose everything that is in paper. There is no interest on savings anymore so you are not going to be able to live off of that. And by now if you don't know what the longer term stores of value are then you probably never will. You have to get out of the mindset that we are going to go through a little storm here and everything is going to remain the same, it's not. Your world is going to be turned upside down and what you are facing is a Venezuela situation or worse in the years ahead. You have to understand that and get ahead of it and if your not able to deal with normalcy bias then I'm sorry as there is nothing I can do for you as we have been talking for years here now about what is coming. We have to look at the world as it is and as it's going to be and not as what was.

    You and your husband will have to survive for perhaps an extended period of time with what you have when everything comes down around your ears. Food, water, shelter, clothing, medicines, ect. You will need to be self sufficient for an indeterminate period of time and if the stores are open you will have to stand in line with everyone else for hours at at time for whatever is left when you get up to the door. Your paper money will be worthless as nations before that thought they could print their way to prosperity. People will lose all trust in paper money and it will no longer have any value. People are going to be desperate and if you think the contention and strife in the civil population is bad now you haven't seen anything yet. When this all blows over and if God has blessed you to survive through it then you will use the long term stores of value to recapitalize yourself into the new system. Do you understand now?
    Last edited by Hfcomms; 10-28-2019 at 07:14 AM.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  2. #42
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    Quote Originally Posted by Hfcomms View Post
    With all due respect CM you are not getting it
    Hfcomms,

    No offense but you seem to be preaching the doom and gloom line awfully hard. But you don't know any better then anyone else what is going to happen in the future. I remember we went through this back around 2008 and if I remember correctly by this time if we were still alive we should be living like people in the 1800's did.

    This is a prepping forum so you should prep for all possible outcomes. That means TSHTF, a robust expanding economy, or a slow economic decline of a dying empire. Telling someone that they are incorrect and foolish to want to have some money in a saving account in a bank is just wrong. We all have our own opinions on where the economy is going. Mine is the latter of the 3 possible outcomes I just gave.

    America has a big economy and a lot of industry and natural resources which is not going to just disappear without their being an external event. Could we become Venezuela. IMO yes but not without a major shooting war or an end to global trade. Both of these concern me. The country who is most likely for us to get into a shooting war with is also our biggest supplier. This does not put the US on a good strategic footing. But a war unless if goes full blown nuke would only mess up the economy and not destroy it. The mess, IMO, would be worse then the 30's, but even back then we still had a functioning economy.

    A lot of folks on this site like the matt bracken foreign and domestic series of books so I will use them as an example. Read them not paying attention to the main plot about the guns and such but pay attention to the economic and social thoughts which are dropped into the background for color. It becomes much more noticeable in the later books then the first.

    Look at what life was like in russia back before communism fell. Prepare for this.

    But I will state that I have no idea what the future holds. So plan as you desire.

    tbd

  3. #43
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    Quote Originally Posted by twobarkingdogs View Post
    Hfcomms,

    No offense but you seem to be preaching the doom and gloom line awfully hard.
    Sit back and look at the global macro picture. Since 2008 we have 3X world debt and multiples of that in financial derivatives. We have global near zero or negative interest rates with trillions of dollars of negative yielding bonds. This financial system has gone about as far as it's going to go.

    Just look at the situation in our country. Look at how crazy things are in an 'excellent' economy. The left is melting down and attacking Trump supporters and there is no room for discourse. We have a literal coup being fomented against a duly elected President. If Trump wins again in 2020 I don't think I have to explain to you what the left is going to do. If Trump is illegally removed from office I don't have to explain to you how the right is going to react.

    We are on the final legs of this present economic system and hundreds of billions of dollars are being injected into the system now as liquidity is seizing up like it did just before the 2008 crisis. The Fed is panicking right now and probably going to cut interest rates again this week. Trump is going to do his best to keep this going through the 2020 elections as he has the 'magic' wand. It works until it doesn't and it's o.k. until it isn't. But once it doesn't work and once it's not o.k. it's too late to be proactive. You go to war with what you've got and you go into economic collapse with what you've got.

    You, I and all of us have to do what we have to do. You can call it doom and gloom if you want I call it reality and having to deal with the cards that I have in my hand and not that the cards that I wish I had. Those who prepare spiritually, emotionally, physically and economically God willing might survive this. Look at it this way. If you prepare for the worst and it doesn't happen you have lost little. If you don't you and those you love might lose their lives. Tough words? Yes they are but although I will be polite I no longer have time for hand holding and especially those who have been around a long time and should already know what to do.

    YMMV


    Today's repo actions so far;
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    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  4. #44
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    I think we still have a year or two of "normal". If things do get bad I see a possibility of US getting a Universal Income first. This would push out the normal for a year I think but in that year things would go downhill fairly rapidly.
    Nothing economic will happen overnight. We all still have time to get our ship in order. Most on here pretty much have their ducks-in-a-row already. Some are likely waiting to do a few things until they know for sure what and when things will start happening. Yes I know many will say it is happening now but I think that statement is bogus.
    Things are as great as possible right now. Any of us presently can hop in our car and drive all around the USA with no worry of getting gas, be able to stay in five-star hotels, eat anything we want in any quantity we want, and then drive back to our homes. We can go online and order anything we want and have it all delivered to our door in just a matter of days, or even sometimes the same day. We can board a plane and fly anywhere in the world.
    So right now today we have it as good as it possibly could be.
    But I believe it will go downhill with the only questions being -
    How fast?
    How far?
    When?
    No one knows the future and we all can only guess.

  5. #45
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    Quote Originally Posted by hiwall View Post
    I think we still have a year or two of "normal".
    You may well be right...and I hope you are. But when this breaks it will happen so fast that you won’t have time to react to it. Back in 2008 Treas Sec Paulson panicked and said that there were only hours before the whole system implodes and they had to act immediately. That was in 2008, nothing has been fixed and it’s worse by multiples looking at everything we’ve discussed. Even the IMF and BIS have admitted that central banks are out of ammunition.

    The only think keeping this floating is massive stealth Q.E. Vis a vis the Repo operations which are now never ending and even with all the liquidity being injected it’s still not enough. Right now the monetizing and consumer consumer confidence are buying us some time. How much time nobody knows. If your right and they can keep it afloat for awhile all well and good. But you have to be ready because as quickly as the 2008 crisis unfolded when it lets loose this time there won’t be time to respond. Snap and it’s all over except the tears.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  6. #46
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    But you have to be ready because as quickly as the 2008 crisis unfolded when it lets loose this time there wonít be time to respond.
    You and I agree on many things but this one line - not so much.
    I do not think that we will all wake up one day and out of the blue all the banks will be closed. I do think one day all the money in money market accounts, 401k accounts, and IRA accounts could possibly be frozen. But your checking and savings accounts would still be accessible. And credit/debit cards would still work. At that point all of us could go shopping, either in person or online. If my guess is correct about this then I would take full advantage and spend like my very life depended on it.
    Yes I am stocked up now but if the situation changed I would up my stocks dramatically. Instead of 6 to 12 months of food I might triple it or better. I might stock more gas for the genny. I might order a small solar system.
    Things might go downhill pretty fast but not so fast that a person who is watching could not still do a lot.
    The first rule of prepping is to prep for nothing happening no matter how much you think the end is near.

  7. #47
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    Quote Originally Posted by hiwall View Post
    You and I agree on many things but this one line - not so much.
    I do not think that we will all wake up one day and out of the blue all the banks will be closed. I do think one day all the money in money market accounts, 401k accounts, and IRA accounts could possibly be frozen. But your checking and savings accounts would still be accessible. And credit/debit cards would still work. At that point all of us could go shopping, either in person or online. If my guess is correct about this then I would take full advantage and spend like my very life depended on it.
    Yes I am stocked up now but if the situation changed I would up my stocks dramatically. Instead of 6 to 12 months of food I might triple it or better. I might stock more gas for the genny. I might order a small solar system.
    Things might go downhill pretty fast but not so fast that a person who is watching could not still do a lot.
    The first rule of prepping is to prep for nothing happening no matter how much you think the end is near.
    I agree with this post just like I agree with Hfcomms on certain things.

    Retirement assets may get frozen, taken and reinvested by the government so as to protect the little guy who does not know how to save and invest for their retirement future.

    I believe we could have a financial freezeup similar to 2008. When banks start getting closed and taken over every week or so then you know the real estate and derivative markets are starting to have issues.

    I do not believe though that any of this will happen over night with out an external event like a war

    In a post above Hfcomms said "If you prepare for the worst and it doesn't happen you have lost little." But that is a misnomer. You can be so scared of the future and prep so hard for a TSHTF that you can actually seriously impact your future. If back in 2008 you had sold all your financial assets, cashed in your 401k's and ira's and put every thing into the bank of sealy you would have missed one of the biggest stock market bull runs in history. Your financial future and life could have been seriously impacted. Those types of decisions could prevent you from ever being able to retire.

    That is why you have to be careful in calling someone out of actions they take. Like telling cm to take all of her families money out of the bank. Even though interest rates are low she, like myself, needs that interest income to cover her retirement bills. Retiree's need what they harvested through thier live to pay them back in their later years and they have to be careful about eating their seed.

    If you truly know the world is going to end then yes warn people. But be careful. One of the biggest threads in the bomb shelter has been having the mid-east blow up any day now for over a year. Dozens of people hang on the every word of the op as he post cryptic messages. Don't become like jgfla was back in 2008 where he became a one trick pony and where it actually seemed he was wishing for the world to end

    I just wish good luck to everyone more matter how they go about preparing for the future.

    tbd

  8. #48
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    Quote Originally Posted by twobarkingdogs View Post
    That is why you have to be careful in calling someone out of actions they take. Like telling cm to take all of her families money out of the bank. Even though interest rates are low she, like myself, needs that interest income to cover her retirement bills.
    Like I mentioned to CM, what interest income? Only interest income today is in junk bonds with a large coupon. Blue chip stocks that paid historic dividends are an option but everything paper is going to burn. That is why even people like Warren Buffet are sitting very heavy in cash and buying tangibles like the railroad that he bought. If you don't want advice then don't ask for it and it would be foolish to take my advice or anyone else on the Internet. In the end we as individuals are responsible for our own well being and if you have been at this as long as most of us have here you should already know what to do and be well along working out your plan of action.

    I am convinced of what I am doing and I can give you well reasoned explanations and I can back those up and I'm sure you can do so as well. And my actions may well be different than yours are. We live in different locations, have different obligations, different family responsibilities, different threat levels based on where we live and our demographics, ect. There is no cookie cutter that will work for everyone. In this environment today it's not return on principal but return of principal. Things have changed and when the Fed went to emergency measures like stealth Q.E. and went from tightening to loosening that is something that we should all pay attention to. The Fed has now crossed the Rubicon and there is no way back.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  9. #49
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    Begun, The Repo War Has


    There's been much strum and furor over the Repo transaction lockups that have occurred, and the insane amount of monetary injection that The Fed has taken on in response -- adding to its balance sheet at a torrid pace not seen since the days of QE.

    They of course claim they're "not" committing QE.

    They're lying.

    But more to the point is why has the Repo market gone insane?

    Nobody claims to know.

    That's a lie; The Fed knows, precisely, why it's happening.

    They're refusing to disclose the reason.

    There are two plausible reasons for the lockup.

    1. There is someone, a big someone, in a lot of trouble. The most-likely candidate for that is Deutsche Bank.

    2. The financial system is stuffed full of allegedly eligible collateral that in fact isn't eligible because it has a negative coupon on it and thus nobody in their right mind would accept it without a haircut representing the negative coupon times remaining duration.

    Think about that one. Let's say I have a 10yr bond with a negative 1% rate. That means that after 10 years I get back 90% of my money, assuming it's a "zero" (that is, issued at par and redeemed at 90 cents.) If you use that as repo collateral I will not give you 100 cents on the dollar; if the bond has 9 years remaining on its duration I will only post that as worth 91 cents.

    Why? Because if you default on the repo I get the bond. But the bond isn't worth 100 cents, it's only worth 91, assuming I hold it to maturity, which I must be prepared to do because there is no guarantee of future market conditions (even tomorrow) and therefore what I might be able to sell it for in said market. Indeed, my expectation is that I can only sell it for 91 cents on the dollar.

    Now if the issuer continues to issue at greater negative rates then my NPV on that current bond may rise, but I have no assurance that will happen. If they issue at less negative, or positive rates, the NPV on that bond will collapse. But, if I hold it to maturity, I'm "guaranteed" (assuming the issuer exists, of course) that I will get 91 cents.

    Therefore all I will count that as in a repo transaction is 91 cents on the dollar, and not a penny more -- and that assumes I believe the issuer (typically a sovereign government) will still be around.

    The repo market is simply not set up to be able to deal with this and can't. Effectively that 91 cents is a haircut on the collateral yet the repo market (which is fundamentally about balancing reserves between institutions due to ordinary flows of funds from one person or entity to another) goes whack if that starts being required, especially in a world where the required reserves are vanishingly small and thus institutions are free to "turn the crank" by re-hypothecating said securities to increase leverage. If I'm forced to unwind the re-hypothecation it's entirely possible that the chain of hypothecation, in a negative-rate world, has negative real value in which case I'm effectively trying to divide by zero!

    IF
    there are one or more institutions out there with significant trouble they're supposed to be identifiable because the proper place for them to go for funds is the Discount Window. Those transactions are not hidden, however, so if you hit the window everyone knows you have a problem because those transactions are also at a "penalty rate" (that is, a bit more expensive) and nobody would pay that voluntarily. Conspiring to hide said fact is a grave injustice.

    But if the explanation is the second then it's far worse since governments continue to issue these negative rate securities and thus this problem will get worse and more wide-spread the more time goes on. This in turn implies that the Fed will be "compelled" to increase its balance sheet without limit and since the US is not (at present) issuing negative rate debt it means The Fed is, from an economics standpoint, monetizing foreign government deficits!

    That's illegal, incidentally, and if The Fed is doing that then we are merely a point of recognition away from the entire edifice of same collapsing, since neither The Fed or the Federal Government has any obligation to make said foreign debt "money good" -- and the people of this nation have every right to insure that it does not do so by whatever means may be necessary.

    http://market-ticker.org/akcs-www?post=237207
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  10. #50
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    There is no effective limit to the amount of digital currency that can be created.

    There IS an effective if somewhat flexible limit on the amount that the market will ACCEPT/CAN ABSORB however.

    In the vernacular, this practice is called "pushing on a string." Try pushing (as opposed to pulling) on a string and see how well it works. Same same for "money."
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  11. #51
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    Quote Originally Posted by Countrymouse View Post
    So...you DO have some in the market as well?
    Not anymore, we don't. DH cashed in back in 2008 when he saw what was coming then. Paid off everything we had, and bought tangibles and PM's with what was left. Got our house and property set for off grid living with part of it, too. He is now retired. We now live off SS and DH's privately funded retirement plan, not contingent on the stock market.
    Last edited by SouthernBreeze; 10-28-2019 at 02:48 PM. Reason: added comment
    Sherree

  12. #52
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    So...you DO have some in the market as well?

    Yes. Low five figgers. And getting lower right now, waiting to work out some wash sales in fact, to lock in losses from earlier this year on a couple of positions.

    But not on Wall Street.

    Invested in moose pasture (WHGOF), alpaca pasture (AUIAF) and goanna pasture (NSRPF) mostly. But note, not investment advice. Do your own due diligence. I like good stories and I buy the stories I like.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  13. #53
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    You know, this market problem sounds a lot like diabetes. They just keep uping the insulin when in fact, they just need a keto diet.
    Hwśt! Wť GŠrdena in gťardagum Ģťodcyninga Ģrym gefrķnon∑ hķ ūŠ śĢelingas ellen fremedon. - Listen! We of the Spear-Danes in the days of yore, of those clan-kings heard of their glory. How the worthy princes performed courageous deeds!

  14. #54
    Quote Originally Posted by Hfcomms View Post
    Back in 2008 Treas Sec Paulson panicked and said that there were only hours before the whole system implodes and they had to act immediately.
    My impression was that Paulson wasn't panicking, but that he wanted to panic the legislature to open the spigots so his friends could collect.
    Better to be a warrior in a garden than a gardener in a war.

  15. #55
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    Quote Originally Posted by Countrymouse View Post
    Problem is--we're nearing retirement.

    You can live ON land---but you can't live OFF land (as in the sense of using it as a means of exchange).

    And we're getting a little too long-in-the-tooth to "live off THE land"--as in, raise all our own food (even if we had enough land to do so, which we don't). If we were in our 30's, or 40's, then yes--maybe--if my husband and sons were on-board with it--move out into the country, get chickens again, some dairy cattle, fence pastures, build hen-houses, plant gardens and fruit trees and begin preserving food again....

    But now -- well by 5 pm my energy is SHOT, my knees hurt if I stand up too long, what used to be "easy" chores like cleaning my house now take all day and exhaust me--I have to keep sitting down and resting and can't seem to get anything done, and I've noticed it's starting to get hard to remember words and names of things (Oh God PLEASE just let it be not enough sleep, like my family says, and not early-onset Alzheimers).

    So I can't see myself starting all over, homesteading, at this time of my life.

    So while I COULD put my savings into land, or metals---
    what would I LIVE on from day to day?
    When I got out of the markets back in 2011...I spent a lot of $ on FREEZE DRIED FOOD....and I purchased a little wooded acreage that is out beyond the metro area with a 24/7/365 freshwater creek running through it. Now I have propane to heat the water to prepare the freeze dried for EATING!!!

    I used to backpack a lot back in the 70s and 80s...and always used Mountain House meals in my backpack....they are really pretty good.

    ...and no, I didn't put all my money into land and food...I set the remainder up as income.

    I set things up this way, because i am OLD and getting feeble...LOL

    (72)
    Last edited by JF&P; 10-28-2019 at 04:37 PM.
    JOHN 3:16 / John 8:32 And ye shall know the truth, and the truth shall make you FREE.

  16. #56
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    Quote Originally Posted by bw View Post
    My impression was that Paulson wasn't panicking, but that he wanted to panic the legislature to open the spigots so his friends could collect.
    Panicking or threatening choose your poison. He got what he wanted and the banks were bailed out on the backs of the taxpayers.


    Sen. CHRISTOPHER DODD: Sitting in that room with Hank Paulson saying to us in very measured tones, no hyperbole, no excessive adjectives, that, "Unless you act, the financial system of this country and the world will melt down in a matter of days.

    https://www.pbs.org/wgbh/pages/front...tc/script.html
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  17. #57
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    Some of the financial media is saying that the Repo operations are working and things are getting better. Not according to the numbers however. Today was $59 billion dollars in overnight and another $47.9 billion dollars with a 14 day maturity. $110 billion dollars in one frickin day! Ten days of that is 1 trillion dollars!

    Buehler!! Buehler!!
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    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
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  18. #58
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    Meanwhile back at the printing press …
    ==================

    http://www.timebomb2000.com/vb/showt...uot-Money-quot
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  19. #59
    Quote Originally Posted by Ractivist View Post
    Being the Biblically minded kinda guy I am........I know the Bible say's, "who will buy my gold and silver" (paraphrased)... Point is, it has no value at a certain point....tie in the mindset that food and water are always the first foremost concerns for anyone....and one thinks when it goes south, it goes south really hard. So many hope to save their assets by owning gold and silver in hand, historically it is a wise move. But, this go around might be quite different.

    My personal thoughts on such things....I'd have some of both if I had the money to invest after I had a significant quantity of food and filters....and guns and ammo, and friends and a fortress. I expect the world to go south in a very hard off the cliff event....when gold and silver could be traded for food without a second thought.... gold and silver are long term. My Biblical Prophetic mind say's there is no long run coming.

    Just saying

    Just remember some things are perishable if not stored properly. I'd include food, paper products (soggy toilet paper is worthless) anything that can be ruined by vermin or insects, floods and fire. Just saying factor these thing in when you make decisions. Located a large Costco package of toilet paper, rats got into it and used it for nesting materials and peed on the rest. Wool socks with holes from moths. Fruit trees where squirrels ate most of the fruit and took bites out of the rest to see if it was ripe. Anymore when I store food, I spend as much on storage containers and vacuum packing as the food itself...tossed out too much over the years.
    I'm off to the coast..

  20. #60
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    Another $60 billion dollars today. Every day....sends a message or at least it should.
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    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  21. #61
    Quote Originally Posted by Double_A View Post
    when I store food, I spend as much on storage containers and vacuum packing as the food itself...tossed out too much over the years.
    Tin trunks go for maybe $10 at Goodwill and the like. Scored a bunch of wall lockers at a Habitat store, and added internal shelves. Makes a whole mess of rodent-proof storage.
    Better to be a warrior in a garden than a gardener in a war.

  22. #62
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    Elizabeth Warren wrote a letter to Sect. Mnuchin:

    https://www.warren.senate.gov/imo/me...%20Turmoil.pdf

    She's asking about the NY Fed and the repo operations.....something bad is going on.
    "Apres la Guerre."

  23. #63
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    Quote Originally Posted by Hfcomms View Post
    Another $60 billion dollars today. Every day....sends a message or at least it should.
    Could give us a link to this info? Thanks.

  24. #64
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    Link is in the first post of the thread.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  25. #65
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    Quote Originally Posted by Hfcomms View Post
    Link is in the first post of the thread.
    Thanks, I should have looked there first.

  26. #66
    A lot of it sounds like trouble in the bond market. Bonds I expect to start the big crash.


    .................................................. ...............................................

    What is a Repo and Why you should care? -- Economic Collapse -- Stock Market Crash . 4K

    About 30 minutes

    https://www.youtube.com/watch?v=ODzUBVJaIo0



    The Atlantis Report
    8.07K subscribers
    What is a Repo and Why you should care? -- Economic Collapse -- Stock Market Crash . 4K
    The FED is having liquidity problems. If people stop using repo because the interest rates don't make it profitable, they stop buying t bills to use in repo. stop buying T bills, and the fed has to buy their own T bills, Quantitative Easing . So they just try to get a step ahead and pay down the interest rate with repo/tomo injections to the "free" money flows and the systems "operates" as "normal". which of course is anything but normal.



    The FED has created a system of free money, to fix prior financial crisis, but which became normal operating procedure, and now it is finally locking up. The only question is will the whole sham come crashing down, or will they paper over this crisis with a few trillion paper squares and keep it shambling along for another 5 or 10 years.

    It's so funny, after all these REPOs, the 30 year yield is STILL dropping like a stone. QE4 is just around the corner.
    This is a sovereign, either Saudi or China, or some other entity making a run on the US banking system. This is a deliberate systematic draw down.
    Bank Runs are what they are afraid of as DeutschBank is broke.

    So what is a Repo anyway :
    Repo is short for repurchase agreement, a transaction used to finance ownership of bonds and other debt securities. In a standard repo transaction, a dealer finances its ownership of a bond by borrowing money from a customer on an overnight basis and posting the bond as collateral. The dealer borrows less than the market value of the bond, so that the loan from the customer is overcollateralized, protecting the customer against a drop in the value of the bond.
    The transaction is structured as a sale of the bond, with an agreement to repurchase it the next day at a higher price that factors in the dealer's interest expense.

    A dealer may also finance a customer's ownership of a bond by lending money and accepting the bond as collateral. This is a reverse repo and is structured as a purchase of the bond with an agreement to resell it to the customer the next day at a lower price that factors in the customer's interest expense.

    When demand is running high for a specific Treasury issue, typically an on-the-run security, that security will trade "special" in the repo market, meaning that people who own the issue can borrow money at very low interest rates by posting it as collateral.


    Repo , is a form of short-term borrowing for dealers in government securities. In the case of a repo, a dealer sells government securities to investors, usually on an overnight basis, and buys them back the following day.

    A repurchase agreement is the sale of a security combined with an agreement to repurchase the same security at a higher price at a future date. It is also referred to as a "repo."
    For the party selling the security and agreeing to repurchase it in the future, it is a repo; for the party on the other end of the transaction, buying the security and agreeing to sell in the future, it is a reverse repurchase agreement.


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  27. #67
    The financial system is awash with money, which is why interest rates have been so low for so long. (Shutterstock)
    How banks have set a trap for the U.S. Fed by creating money


    Yep it is old but still holds true.

    August 29, 2018 7.06am AEST
    Author
    Hoa Trinh
    Instructor of Business Management, University of Toronto


    The 10-year anniversary of the 2008 financial crisis is upon us.

    A decade ago, former U.S. president George W. Bush signed into law the money-printing scheme called the Troubled Asset Relief Program (TARP), aimed at purchasing toxic assets and equity from financial institutions to strengthen the country’s shell-shocked financial sector amid the sub-prime mortgage crisis.


    In this 2014 photo, vines cover the front of a boarded-up home in East Cleveland, Ohio. Ohio was one of the Midwest states hardest hit by the sub-prime mortgage crisis that began in 2007. (AP Photo/Mark Duncan)
    How do banks, treasury departments and central banks create money anyway? And does it work to buoy economies teetering on the brink of collapse?

    In the U.S., banks are required to set aside, depending on the total amount, up to 10 per cent of their deposits to be held at the Federal Reserve.

    Here’s how the reserve system works. Let’s say you deposit $10,000 at Bank A. The bank sets aside $1,000 as reserve. It will loan out the remaining $9,000 and charge interest, enabling it to make interest payments to depositors and earn interest income. So Bank A becomes a financial intermediary between savers and borrowers, and money keeps getting created.

    How? Because there are many banks in the financial system, and they are required to hold only a fraction (10 per cent) of their deposits. Loans end up deposited in other banks, which increases reserves, deposits — and the money supply.

    Money multiplies
    In the U.S., the Treasury Department can sell IOU papers via the Fed to the open market in order to finance government deficits instead of raising taxes. The Fed itself, domestic and foreign banks and investors, and foreign governments will buy and pay for them with American dollars. When the government spends these dollars, they get channelled into the commercial banking system as deposits.

    Big corporations and commercial banks can also sell their own bonds. Today, U.S. non-financial corporate bonds stand at $4.8 trillion. And so the system’s money multiplier gets even larger.

    When the Fed buys financial assets from financial institutions, it pays for them by making bookkeeping entries into their reserve accounts. Banks can create up to $10 in new loans for every one dollar increase in the commercial banks’ reserves.

    During the financial crisis of 2007-2008, the Fed engineered what’s called quantitative easing, or QE, by buying many billions of bad assets from endangered banks.

    The banks’ damaged assets became safe because the Fed had bought them. And it also allowed banks to extend more credits to, supposedly, stimulate the economy.

    This financial injection multiplied, and money flooded the system.

    Here’s how and why.

    Bank assets versus liabilities
    Mortgage loans are bank assets because banks can call in the loans and the borrower must pay. Deposits, on the other hand, are bank liabilities because customers can withdraw their money at any time, so banks owe that money to them.

    If people start defaulting on their mortgage payments and house prices plummet, it can create fears among depositors; they will rush to take their money out of the bank before it collapses and they lose their savings. So in 2008, the Fed stepped in to nip this fear in the bud to prevent a possible system-wide bank run leading to the collapse of banks.


    When house prices fall and people are worried the economy is on the brink of collapse, they tend to withdraw their money from the bank. (Shutterstock)
    Today, the cumulative balance of the Fed’s financial assets over a 10-year period from 2008 to 2018 has risen to $4.3 trillion from $872 billion, an increase of about 400 per cent. Money keeps multiplying.

    Why? Recall that each time the Fed buys financial assets from banks, it pays for them by making bookkeeping entries to banks’ reserve accounts, and for every one dollar increase in their reserve accounts, banks can lend out up to $10.

    Where has all the money gone?
    The financial system is therefore awash with money. That’s why interest rates have been so low for so long. Interest rates, essentially, are the price of money. When the Fed makes it easy for banks to create money, banks must lower the price of money in order to move it into the hands of borrowers. Banks, after all, are in the business of making money by selling money.

    And this does not even include Eurodollars. These are U.S. dollar-denominated deposits at foreign banks or at American bank branches abroad, the amounts of which are hard to estimate. And they are not subject to the Fed’s regulations on required reserves. The world is simply flooded with American dollars, with the Euro, the yen, the yuan and pound sterling all operating under similar QE policy.


    Traders work on the floor of the New York Stock Exchange in July 2018. (AP Photo/Richard Drew)
    Within the U.S. and major developed and developing economies, part of this flood of cheap money has created significant increases in the world’s selected real estate markets and in stock markets. By 2017, 16 of the 20 largest stock exchanges in the world have a market capitalization ranging from US$1.2 trillion to $19 trillion.

    Key lesson: The Fed can create money, but it’s hard to predict where that money will go.

    Why scant inflation?
    Over the period of 2008 to 2018, the U.S. economy has not experienced noticeable inflation, despite the flood of money into the system. The broadest measure of inflation shows it’s increasing at about 1.55 per cent a year. America does not have a problem of too much money chasing too few goods, because there is plenty of money around for imports. That’s where trade deficits came from.

    Read more: Donald Trump's misguided aversion to trade deficits

    Meantime, while American after-tax corporate profits have grown at a compounded rate of 6.44 per cent per year, workers’ average hourly earnings before tax and before inflation is 2.29 per cent per year, which is practically zero in real terms.

    The gigantic money-printing scheme, therefore, appears to have benefited banks, corporations and those who can afford to play in real estate markets, in stock markets and in the broader financial world. Broad-based personal consumption, however, remains unimpressive compared to pre-2008 periods.

    The Fed is trapped
    The Fed has increased its own federal funds rate over the past couple of years from zero to 1.91 per cent to spur rate hikes in the financial sector. This is the rate that short-term commercial interest rates are pegged to. And it has also started to sell off some of its assets back to the market. When it sells assets, the multiplier works in reverse, resulting in less money available and higher interest rates.

    The rationale for this strategy is that the real economy seems to have picked up some momentum as unemployment rates are down and inflation is ticking up. The QE money that has been circulating on and on within the financial and real estate sectors may finally be going somewhere in real sectors.

    But facing a total government debt of $21 trillion and climbing, the Fed is trapped — higher interest rates means bigger interest payments on government debt.

    The Congressional Budget Office (CBO) has projected that the government’s net interest costs alone will triple over the next 10 years, rising to be the third largest expenditure item after Social Security and Medicare.

    U.S. President Donald Trump’s tax cuts may produce some short-term economic growth, but at the expense of even bigger budget deficits, rising to exceed $1 trillion annually by 2020. That’s two years ahead of CBO’s previous projection.

    Ending easy money is not easy
    While the Fed has pushed interest rates up, rates in the Eurozone and in Japan remain at or below zero, and QE is still ongoing there. More money will flow into the U.S. to earn higher rates. Adding to the ongoing trade wars, this global uncertainty will, paradoxically, result in higher demand for the dollar. The higher dollar will make American exports more expensive and reduce the effects of tariffs on imports.

    A silver bullet has yet to be found to break through this vicious circle of debt, the dollar and trade deficit. But interest rates will have to rise to their normal level soon or pension funds will come under enormous stress to hit the eight per cent required returns in order to meet their obligations.

    This is going to be a test case of the Fed’s independence

    https://theconversation.com/how-bank...g-money-100226

  28. #68
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    https://wallstreetonparade.com/2019/...o-wall-street/

    Federal Reserve Spokesman Explains How It Creates Money Out of Thin Air to Pump Out to Wall Street

    By Pam Martens and Russ Martens: October 29, 2019 ~

    Steve Meyer, Official Spokesman for the Federal Reserve Board of Governors in 2011
    On January 19, 2011, the Federal Reserve released a video on YouTube to quell the public uproar over its unaccountable money creation operations. The spokesman for the Fed in the video was their Senior Adviser at the time, Steve Meyer, now an Adjunct Professor of Finance at The Wharton School. The Fed was in the middle of its second round of quantitative easing (QE2) and Meyer states this: “The Fed will not keep buying large amounts of securities on an ongoing basis.” The Fed was so intent on conveying the “temporary” nature of its unprecedented actions that it put that statement by Meyer on the screen. (See screen shot above.) Meyer then immediately adds this about the Fed: “Its purchases are a temporary measure to help the economy recover.”

    But the Fed’s purchases were not temporary. On September 13, 2012 the Fed announced QE3, indicating it would be “purchasing additional agency mortgage-backed securities at a pace of $40 billion per month.” And on December 12, 2012 the Fed expanded QE3 with the announcement that it would “continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month” and would also “purchase longer-term Treasury securities…initially at a pace of $45 billion per month.”

    By 2015, the Fed had increased its balance sheet to $4.5 trillion from the $800 billion it had been prior to the financial crisis. Despite all of the Fed’s promises to “normalize” its balance sheet, today its balance sheet stands at $4 trillion and on September 17 of this year it launched a new, massive money pumping operation on Wall Street’s behalf.

    Today, the U.S. is supposedly still in an economic expansion with an unemployment rate of 3.5 percent, one of the lowest rates in the past half-century, and yet the Fed has reinstituted a massive money pumping operation to Wall Street. (See Fed Ups Its Wall Street Bailout to $690 Billion a Week as Media Snoozes.)

    The Fed’s crisis-era quantitative easing programs had something in common with the Congressionally-approved Troubled Asset Relief Program (TARP). Both were shiny objects to distract the public from the obscenely giant money funnel that the Fed was secretly providing to Wall Street through a mish-mash of acronyms too numerous for anyone to keep track of. When the Levy Economics Institute tallied it all up, the tab came to $29 trillion in cumulative loans and other forms of relief to bail out Wall Street. See Table 16 at this link. (The $29 trillion includes $1.85 trillion in purchases of agency mortgage-backed securities that overlap with part of the Fed’s quantitative easing operations.)

    In the Fed video, Steve Meyer also confronts the elephant in the room: where is the Fed getting all of this money to bail out Wall Street for its greedy excesses that led to it blowing itself up.

    Meyer says this at 3:42 minutes on the video:
    “You may wonder how the Fed pays for the bonds and other securities it buys. The Fed does not pay with paper money. Instead, the Fed pays the sellers’ bank using newly created electronic funds, and the bank adds those funds to the sellers’ account. The seller can spend the funds or can simply leave them in the bank. If the funds stay in the bank, then the bank can increase its lending, purchase more assets, or build up the reserves it holds on deposit at the Fed. More broadly, the Fed’s securities purchases increase the total amount of reserves that the banking system keeps at the Fed.

    “Whether the Fed’s purchases lead to an increase in the amount of money circulating in the economy depends on what banks do with the new reserves and on what sellers do with the funds they receive.”

    The big problem with this statement is the use of the word “bank.” Prior to 1999, banks were traditional depository institutions that took in federally-insured deposits from moms and pops and loaned that money out to credit-worthy businesses and consumers in order to grow the U.S. economy and keep the U.S. competitive on the world stage. But in 1999, after the Clinton administration repealed the Glass-Steagall Act, which had kept the U.S. financial system safe for 66 years by barring the combination of federally-insured deposit-taking banks with the high-risk investment casino banks on Wall Street, the word “bank” had lost its traditional meaning when it came to the new conglomerates on Wall Street.

    The most striking example of what these mega “banks” had become was revealed in 2012 when JPMorgan Chase, the largest “bank” in the country, was exposed for having used hundreds of billions of dollars from its federally-insured “bank” to gamble in exotic derivatives in London, eventually losing at least $6.2 billion of its depositors’ money.

    What this new banking model has also done is to allow these mega “banks” on Wall Street to create the greatest income and wealth inequality in the U.S. since the late 1920s (before the passage of the Glass-Steagall Act in 1933) by using the super cheap money from the Fed to buy back their own stock, pump up their share prices, and then reward their top executives with millions of shares of inflated stock.

    To make this situation even more of a Keystone Cops farce, Congress has yet to hold a hearing on the Fed’s latest interventions to bail out Wall Street. This follows Congress deciding in the Dodd-Frank financial reform legislation of 2010, which was supposed to address the worst financial collapse since the Great Depression because of greed and corruption on Wall Street, to give the crony Fed the primary job of overseeing the biggest bank holding companies on Wall Street. That work is now supervised by the New York Fed, the same regional Fed bank that funneled the bulk of that $29 trillion to Wall Street during the financial crisis and the same Fed bank running today’s money spigot. (See Is the New York Fed Too Deeply Conflicted to Regulate Wall Street?)
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  29. #69
    fooked we are Obi wan
    Consider the ravens, for they neither sow nor reap, which have neither storehouse nor barn; and God feeds them. Of how much more value are you than a pesky raven?
    It is difficult to stand idly by and watch the vacuum of ignorance being filled with lies

  30. #70
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    Looking at stacks of actual dollars as I post articles about multi-billion FRN$ Fed repo operations makes me feel better. Got Peace dollars this order ...

    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  31. #71
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    Another $72 billion dollars today. Anyone think this is getting better?

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  32. #72
    This was reported on MSM last night:

    Fed Cuts Its Interest Rate Target for Third Time This Year

    by John Carney 30 Oct 2019
    LISTEN TO STORY 2:18

    The Federal Reserve cut its interest rate target by a quarter-percentage point for the third time this year.

    Eight of 10 Fed officials voted in favor of lowering the federal-funds target rate to a range between 1.50% and 1.75%, with two reserve bank presidents preferring to hold rates steady.

    The Fed removed language in its policy statement saying it would "act as appropriate to sustain the expansion" in the near future. The new formulation suggests that the Fed is not planning further rate cuts this year.

    The statement described the labor market as strong and economic activity as risking at a "moderate" pace.

    "Although household spending has been rising at a strong pace, business fixed investment and exports remain weak," the Fed said.

    A year ago, the Fed was planning to raise rates several times this year, a policy it described as "normalizing" interest rates. This plan was heavily criticized by President Donald Trump, who saw it as hurting his efforts to rev up economic growth. When the Fed seemed to persist in its policy despite some signs the economy was losing steam in the last quarter of 2018, financial markets staged big sell-offs of risk assets.

    The market reaction was strong enough to convince the central bank to relent. In January, the Fed signaled that it had abandoned its policy of gradual rate hikes and it cut its target for the first time in a decade in July, describing the cut as a "mid-cycle adjustment" rather than a new direction for rates overall. The Fed cut again in September.

    Wednesday's rate cut was widely expected. But investors will pay close attention to the words of Fed chair Jerome Powell at a press conference set to be held after the Fed meeting for hints of the Fed's next move.

    Many Fed officials believe that once the October cut is in place, the Fed will have done enough to innoculate the economy against a sharp downturn. And while there are some on the Fed who think it should continue to cut, they appear to be out-numbered by those who would rather take a wait and see approach. On Wednesday morning, the Commerce Department released that the economy had grown at a 1.9 percent annual pace in the third quarter, better than the consensus forecast.

    https://www.breitbart.com/economy/20...ime-this-year/
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    Matthew 10:17 But beware of men: for they will deliver you up to the councils, and they will scourge you in their synagogues; 18 And ye shall be brought before governors and kings for my sake, for a testimony against them and the Gentiles. 19 But when they deliver you up, take no thought how or what ye shall speak: for it shall be given you in that same hour what ye shall speak.

  33. #73
    We have gone from gold and food economy in the last 100 years to a fake money society.

    Now the fake money society is self destructing and those in power want to depopulate.

    What happens between the old systems in place in different countries like Russia and China and the new communist system. Well, in-between you have a period of anarchy where many die.

    So get ready for the state of anarchy as when the banks close say for six months, anarchy will take over.

    Then when World Government takes over dissidents will vanish until only the drones will be left alive.
    Last edited by China Connection; 11-01-2019 at 05:32 AM.

  34. #74
    This is a global problem. America isn't the sickest.

  35. #75
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    Only 73 billion today.

  36. #76
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    Worse than that! $73 billion in overnight and another $31 billion and 'change' in 14 day. That is over $100 billion just today counting on my fingers and toes. At $1 billion for a B-2 stealth bomber that is 100 bombers or at $3 billion for a new aircraft carrier or thereabouts that is 30 aircraft carriers in one fricking day! Yeah, I know it's mostly rolled over but they have opened the floodgates of liquidity and it's still not enough. These numbers are so big we are numbed to it. This sucker is going to go down and in a bad way.
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  37. #77
    It occurred to me that the shaky global economy is why they won't be honest about the collapse in global food production this year.

  38. #78
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    If the PTB were honest about anything the general population would get rightfully scared. A scared population would not spend their money correctly (on worthless stuff).
    Every person in the world should be a prepper. Instead it is just a very tiny percentage. This country like every other country does many things just to make things worse for the population. We live in a sad and rather despicable world.

  39. #79
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    That is over $100 billion just today

    Thank God it isn't real money.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  40. #80
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    Quote Originally Posted by Dozdoats View Post
    That is over $100 billion just today

    Thank God it isn't real money.

    Yeah, ironic isn’t it?
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

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