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laodan is a guy from Milford, Pennsylvania, USA.
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THE WAY THINGS ARE: The meaning of life is to be found in thinking about what is reality and the beauty of reality is to be found in our DNA's memorization of all forms that have been successfully retained along the four billion years of evolution of the principle of life on Gaia our earth. In the end what I mean to say is that beauty is something objective and what we call ugliness is then simply our unconscientious feel of something evolution did not retain.
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But if the vaults are empty, what will Scrooge McDuck swim in? | MetaFilter
Liked it Jan 30, 8:19am 1 review •http://www.metafilter.com/68626/But-i...
Are US banks being nationalized?
in Metafilter by Asparagirl

According to the latest biweekly numbers released last Thursday by the Federal Reserve, for the two weeks that ended January 16th American banks had negative $1.3 billion in non-borrowed reserves. This is, historically, extremely unusual; just two months ago they had $30 billion (positive, of course) in non-borrowed reserves. The only reason some banks haven't been shut due to insufficient -- negative! -- reserve requirements is that the Federal Reserve is currently loaning them enough money through the brand new TAF (Term Auction Facility) program (also running in Canada and Europe) to make up their shortfalls. Today's TAF press release says that 52 American banks or institutions are currently receiving loans totaling ~$40 billion -- but the Fed refuses to name who they are.

But if the vaults are empty, what will Scrooge McDuck swim in?



What is going on here?
It seems to me that the US banking system is tanking. But that can't possibly be permitted to happen is it not? So loans by the FED to banks will be considered equivalent to capital. The only problem with this kind of refusal of reality is that it perverts the rules of the game. And for those who understand this game this perversion is the last straw that kills the game. Foreign money could thus exit the US.

Now if loans by the FED to the banks are considered to act as capital that would mean that US banks are de facto being nationalized...

For more detailed discussions on the topic see the following:
Cheer Up, Ben: Your Economy Isn't As Bad as This One the banking system in the virtual online world Second Life has just collapsed
Treasuries Fall as Central Banks Seek to Ease Credit Concerns Bloomberg
The Fed's New Auction System.
Fed's Auction Scam Mish's Global Economic Trend Analysis

All this looks very much like the collapsing of the Western model of financial capitalism. If this is right than it will be regarded as the historical crosspoint when economic power has shifted to the East. Ignacio Ramonet in Le Monde Diplomatique writes that this could be the end of a model.
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