HD Seeking Federal Bank Bailout Funds

[Sidecar Flip]

:kk:

Welcome back, Flip

Jamie

That wasn't meant for you. I know you know what the skinny is.

By the way, Alex bought a set of Pannier Liners last week.

 

[Sidecar Flip]

your opinions on this
http://www.nytimes.com/2009/01/23/business/worldbusiness/23sweden.html

http://www.nytimes.com/2008/09/23/business/worldbusiness/23krona.html?ref=worldbusiness

My opinion on that is simply that the Fed already owns the banks. Not directly but indirectly.

The bailout is simply a loan or should we say a gift to the banks from the people of this country that are being forced to give the money without choice or recourse.

The Federal Reserve is a private corporation, owned by the banks that produces and distributes the fiat currency we all call U.S. Dollars. It's backed by nothing other than promises made by the Federal reserve as to it's worth and it's really not worth anything.

In this country, the banks have been nationalized since the abolishment of the Gold Standard, they (the politicians) just aren't going to tell you it's so.

For this country to survive and prosper again, we have to do 2 things. We must get back to a precious metal standard of backing the currency, if, we are to keep using paper fiat currency at all, and 2, we must quit employing Fractional Reserve Banking as a way to bolster individual banks balance sheets.

Fractional reserve Banking is what is at the very roots of the Sub Prime Mortgage meltdown and the banks inability to cover the losses.

Basically, Fractional reserve Banking can be compared to a credit card but giant sized. Banks have the ability to issue Federal Reserve Notes (Fiat currency) with nothing to back the notes up other than the word of the Federal Reserve that they will make good on the notes should the public decide to cash them in for their surrender value, problem is, the surrender value on a FRN is so little that it's basically worthless because it's not backed by anything other than promises and we all know what the worth of a promise made by a politician is.

That's how the meltdown came about. All the notes the brokers had in their possession were worth nothing and were backed by nothing but promises and consequently, like a house of cards, the whole thing came tumbling down.

If the banks were independently operated and weren't controlled directly by the Federal Reserve, the meltdown would have been contained within a few institutions but because the banks are nationalized, it spread among many institutions, all bearing the burden and consequences of a the mistakes of a few.

Would I prefer dealing in a currency other than FRN's? You bet I would. problem is, the FRN is the de-facto currency standard of this country and as much as some people want to get away from it, it's not very practical.

In a nutshell, Sweden's financial silhouette is much different that this country's. We are already nationalized because the Federal Reserve controls the currency, the value and the amount dispersed by Fractional Reserve Banking...and the Federal reserve is no more Federal than Federal Express or Federal Mogul Corporation.

The Federal Reserve is a private corporation owned by the banks and administrated and designed to make money for the owners (the bankers themselves) and not the people of this country.

Until the citizens of this country wake up and regain control of their government and their monetary system, nothing will change...at least for the better.

 

[TxRIIIRider]

Wow.. Since you happen to have the flame thrower AND the Rocket, maybe you could fabricate some kind of mount! I know that's one accessory that will come in really handy when dealing with traffic on the way to work in the morning!!..

You guys will appreciate my new exploits. I've entered into a open end quote to rebuild a WW II Panzier Backpack mounted flamethrower. There are 2 in existence, one at Fort Knox and one in my shop.

It's a neat little torch. Effective range is 412 feet with a burn time of 7 seconds continuous running on heavy motor oil mixed with kerosene. The propellant is nitrogen at 715psi and the unit's hand held torch is ignited with a 40 caliber aluminum cased phosporus tipped round.

 

[TxRIIIRider]

And... I am VERY interested in a different radiator screen..

 

[Jamie]

Jamie:


Take a look at Caterpillar. You and I both know the scenario but they did what they had to do to survive and they did it without going to the government and asking for a handout. It hurt, but it got handled.

quote]

And it got... re-handled today. 20'000 jobs cut. That happens to be 18% of the worldwide work force.

Jamie

 

[Xchoppers]

I don't think the government has any business bailing out HD, especially right after they spent the money to purchase MV Agusta. Instead Harley should concentrate on producing better motorcycles at reasonable prices.

 

[xhdskip]

Ya, I gotta agree with you there.
They've had the lions share of the market for too long,
Got complacent, got greedy, a bad combination for a business
that caters to a select audience.
Hate it for em, but they should have used the available technology instead of resting on their laurels.
Sink or swim, its a jungle out there in the real world.

 

[RatBoy]

Ya, I gotta agree with you there.
They've had the lions share of the market for too long,
Got complacent, got greedy, a bad combination for a business
that caters to a select audience.
Hate it for em, but they should have used the available technology instead of resting on their laurels.
Sink or swim, its a jungle out there in the real world.

Skip, the same could be said for the domestic auto industry...
'They've had the lions share of the market for too long'...
'Got complacent, got greedy...
'they should have used the available technology instead of resting on their laurels.'...

I'm in no way saying that the situations are the same... just the description of the situations that got them to their current state of affairs. I don't think that Harley should get anything in the way of a bailout.

 

[TxRIIIRider]

Shoot.. just give us all a bail out.. With the amount of money they're spending now.. 825 billion.. in addition to the 700 billion.. Now, I'm betting a significant number of households could be "bailed out" with portions of that crap.. With the total divided by 1,000,000, they could make 1,525,000 millionaires from people who have nothing.. lol

Get this, not totally related, but.. I know I am a very lucky person in a good situation. I paid off all of my debt years ago, and have not had a loan since, and I still have a good paying job, on top of my military retirement. NOW.. get this.. again, I've paid off all my debt and managed to stay debt free for years. SO, I decide that I might want a credit card, no big limit or anything, just something to use and pay off on occaision. I DON'T QUALIFY FOR A CREDIT CARD, UNLESS I SECURE IT... lol Ummm.. where did the 350 billion go? My credit score is okay, but I don't have any recent credit history. So, until I get credit, I can't have credit..

 

[Jamie]

Absurdity

So, until I get credit, I can't have credit..

Great line, TxRIII. Yes, the world is turning weird. Jamie