Frank F

When banks borrow from the federal reserve discount window (now up to 90 days), where does that money come from? What effect does that have on inflation and the value of the U.S. dollar?

I ask because it seems that gas prices got out of hand right after the fed increased the borrowing from overnight to 30 days, and skyrocketed when they increased it to 90 days. I wonder if there is a connection. If banks are running to the fed, and the fed magically creates the money to lend, and the currency market reacts to the magic money by lowering the dollar value, then gas prices go up as the dollar goes down. Finally, higher gas prices get passed on to consumers in higher food prices.

I just wonder how much this "discount window" is costing American consumers....

This happened to my sister-in-law.

Her and her husband are in the U.S. on work visas. All their documents are in order, and they recently had their visas stamped again in India.

Her drivers license was expiring, so she went to have it renewed. The driver license division took her license, and said they have to do a "background check" that can take anywhere from 4 - 6 weeks. She is a busy physician, and a new mother. She has a clear driving history, and she is not in any kind of legal trouble.

My question is this: What law gives these people the right to revoke a persons driving priviledges without cause? Yes, I know driving is a priviledge, but it should not be revoked without a reason. She did nothing wrong!

What are her options? I am ashamed of the state of Georgia for this nasty treatment of a legal immigrant.

My new company allows up to 20% contributions, and matches the first 4%. I don't make enough money to meet the IRS maximum contributions with the 20% limit.

I have an old 401k with a little money in it, but not enough to cover roll over fees, so it's not worth bothering with that. Could this old account be contributed to by sending money and deducting it from my taxes?

I know I could use a traditional IRA, but the IRA limit is very small. If I could contribute extra funds to the old IRA, I might come closer to meeting the IRS maximum, and maximize my tax savings and retirement security.

So, is this possible?

Ranging from small to very large credit unions, how does the credit crunch effect the financial stability of a credit union? Also, how does it effect the overall ability of a credit union to make loans (mortgage, personal, auto, credit card)?

What function does the currency market perform?

When we see this price go down, how soon until we can expect to see the price at the pump go down? Also, these price reports usually include "for (month) delivery". Does that mean delivery to consumers, or delivery to the refineries? How does this delivery month affect prices at the pump?

I understand that outside influences can change the price at the pump (refinery capacity, strikes, tax changes, etc). But, if we strip these variables away, how much does the price of crude oil (per barrel) affect the price at the pump?