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Old 02-23-2014, 09:50 PM  
Easy 6 Easy 6 is offline
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The "Fed"

I've brought this up a few times recently, and its nothing new here in DC, but it never seems to gain much traction... why do we have a COMPLETELY independent entity in charge of our money?

Its just a series of simple questions that add up to an ugly answer IMO... why are they called Federal, when they're not Federal at all.

Why are they allowed to control the American taxpayers money when they're NOT bound by FEDERAL law?

If they're not bound by our laws, if a US Congressman or committee cant force them to answer where billions and trillions of OUR money have gone, what law ARE they bound by?

I've read explanations here from both sides in the distant past, but nothing sticks out to me as a "oh, ok that makes perfect sense" answer... the reasons are vague and full of ambiguity, IIRC they're the kind of answers that even very educated people are confused by, but they make excuses for this "system" just because "that's the way things have been since 1913"

It seems like these guys fly under the radar 24/7... the media wont cover it and it isn't even possible to get a message board to address it seems, so I ask again... why are they necessary and who do they answer to? in todays world, why should we trust a group of bankers who answer to no KNOWN body?
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Old 02-23-2014, 10:52 PM   #16
petegz28 petegz28 is online now
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Quote:
Originally Posted by scott free View Post
You seem to me to have a pretty solid handle on the basics of this, Pete... what bothers me is that you take so much flack from the older guys here for challenging the status quo.

I've never once seen you advocate for taking money from "the 1%" or any of that nonsense... they earned it, they keep it is fine by me and you as well as far as I can tell, we don't want anyone elses money, just a chance for Americans to earn their own... but you, and others, seem to be relentlessly attacked and ridiculed for even mentioning that something is terribly wrong, something is ruining this country.

The people in question point to "the other" party, but its becoming plain to see that both parties are beholden to the same interests and are both complicit in whats happening.
I think you will like this guy. He sums up a lot of what I have been trying to say over the last few weeks.

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Old 02-23-2014, 10:52 PM   #17
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Quote:
Originally Posted by petegz28 View Post
Just remember 1 thing, the Fed prints money that is backed by nothing more than the full faith and credit of the USA. In other words, the ****ing tax payers.
So?
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Old 02-23-2014, 10:56 PM   #18
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Senator Sanders: Who'd you lend $2.2T of our dollars to?

Bernanke: I can't tell you...hahahaha **** you Congress.
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Old 02-23-2014, 10:57 PM   #19
Easy 6 Easy 6 is offline
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Seeing a lot of greenlights who, I would think, have something substantial to say on this subject yet not. a. word... do not question how business is done in todays world, its all fair, its all good... claims of global malfeasance are for jobless hippies.

Everyone at the tippy top really does care about you, you 100k a year guys who think you're hot shit? oh yeah, you too, we're gonna be there for ya...

News Flash, when the bottom hits, all you guys are gonna have is your bullets and Rosland Capital silver coins... your land? gone... your sense of wealth? gone.

It can all be taken from you unless you stand with everyone and not just yourselves.
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Old 02-23-2014, 11:00 PM   #20
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Quote:
Originally Posted by scott free View Post
Whole nother subject, but lets not get too deep into it lest we're laughed off of the Planet... some things just don't want to be known.
I hope my post wasn't taken as a conspiracy theory to his assassination? That wasn't my point and I think it has been debunked.

JFK seemed to see that the FED needed eliminated or governed better and took steps to do so. So if the FED has no political clout or pursuasion, why wasn't the Executive Order followed through by future parties? Honest question.
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Old 02-23-2014, 11:00 PM   #21
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Quote:
Originally Posted by Prison Bitch View Post
So?
So you don't think it's a problem that someone can print money at will that you are responsible for yet you have no say nor control over them???
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Old 02-23-2014, 11:11 PM   #22
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Old 02-23-2014, 11:12 PM   #23
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Quote:
Originally Posted by petegz28 View Post
So you don't think it's a problem that someone can print money at will that you are responsible for yet you have no say nor control over them???
you're not going to convince anyone that doesn't understand, or doesn't care.
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Old 02-23-2014, 11:13 PM   #24
Easy 6 Easy 6 is offline
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Quote:
Originally Posted by rockymtnchief View Post
I hope my post wasn't taken as a conspiracy theory to his assassination? That wasn't my point and I think it has been debunked.

JFK seemed to see that the FED needed eliminated or governed better and took steps to do so. So if the FED has no political clout or pursuasion, why wasn't the Executive Order followed through by future parties? Honest question.
If there was any reason beyond the "lone nut' for his death, then a move like he was proposing was CERTAINLY a big part of it... it threatened a lot of big, high powered people across the globe.

Why would they want him dead?... of course.

Heres a bit of advice... find "RFK Must Die", an excellent documentary about his death, the information regarding Roberts death will make it QUITE clear who killed JFK... photos, eyewitnesses, documentation... its a slamdunk case.

CIA = Guilty... they were there in the hotel, had no reason to be, and never claimed to be... but photos prove it.
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Old 02-23-2014, 11:41 PM   #25
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Quote:
Originally Posted by scott free View Post
#1 is an interesting thought... but how is it they loaned out 2.2 trillion, did they just imagine that money up to loan to God knows who?

Doesn't bank money atleast partially flow from taxpayers, is all of the money they control a banking/corporate construct?

Even if it comes from corporations and all of the arcane to the layman meanings and mechanisms of money, why is it that they are not forced to answer for where it goes... in short, who do they answer to?
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Old 02-23-2014, 11:43 PM   #26
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Originally Posted by petegz28 View Post
For as smart as I know you are when it comes to economics, that is a very na´ve post and I think deep down you know that.
There is nothing wrong with what I wrote.
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Old 02-23-2014, 11:44 PM   #27
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I've listened to about 5 minutes of this and it's a decent primer.

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Old 02-23-2014, 11:48 PM   #28
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Quote:
Originally Posted by scott free View Post
Who is E&Y... why doesn't the fed chairman have to tell Congress where the money is going?

There isn't a real explanation for... why aren't they accountable to Congress... Bernanke had the guts to tell Congress to go pound sand when asked to account for himself, if its all common knowledge thanks to "E&Y", is Congress not privy to the "E&Y" reports?

Why ask Bernanke if its all so readily available and transparent?
The Fed's audited financial statements are at

http://www.federalreserve.gov/moneta...financials.htm

The Fed does tell Congress and everyone else where the money goes. The Fed is very big on signaling their actions (saying what they're going to do before they do it) so markets know what to expect from the Fed.

E&Y is Ernst and Young.
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Old 02-23-2014, 11:51 PM   #29
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Quote:
Originally Posted by petegz28 View Post
Don't buy this crap about the audits. During all the TARP hoopla, the Fed was allowed to hide where all the money was going. It took the SCOTUS ruling several years after the fact that they had to disclose. Also on a more personal level, Bernanke is a ****ing idiot. The man was never right about 1 ****ing thing during is time as Fed Chair.
Disagree. I have zero love for Bernanke due to how the bailout funds were handled (no negotiations), but he handled the crisis fairly well considering the global payment system didn't implode and we have avoided a 2nd recession after 2007-2008.
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Old 02-23-2014, 11:53 PM   #30
Easy 6 Easy 6 is offline
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BS doubletalk... "free from Wall Street influence"... "free from political pressure".

It might have sounded good then, but human nature finds a way, and find a way they have to circumnavigate the system... its corrupt, period.

When they can tell Congress to go get ****ed instead of answering simple questions that this country has every right to ask, with NO fear whatsoever... its garbage, period.

I don't need some after school special cartoon to tell me that, either.
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