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Old 02-23-2014, 08:50 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 02-26-2014, 07:28 PM   #46
cosmo20002 cosmo20002 is offline
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Originally Posted by scott free View Post
When an international banker/bankers in complete charge of US monetary policy can give ONE WORD ANSWERS to Congressman... its nothing less than telling them to pound sand.

Just read ol Bens body language, he thought about it for a split second, summoned the rights and spine he thinks he has and gave a very confident one word answer... NO... c'mon man, 2.2 trillion and he's confident enough to sit there with a calm and stonefaced ONE WORD ANSWER we don't owe you an explantion, NO we don't have to tell America or its laws where this money went, and I dare you to do anything about it.

If you find that kind of answer acceptable, Cosmo, I don't know that anything further arguing is going to help... they are above and beyond American Constitutional law at this point.

Oversight you want is it?... NO, end of discussion, we control your future, America has been hijacked.
He did say where the money went--short-term collateralized loans to banks. And its always been paid back. All the terms and so forth that Bernie was asking about are public and on the website.

I didn't hear any one-word answers.
I'm not hung up on body language. Gimme a break...
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Old 02-26-2014, 07:29 PM   #47
petegz28 petegz28 is offline
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You have to be more accurate than that Pete. The Fed doesn't print money. The Treasury is who prints money. The Fed has dramatically expanded credit and kept interest rates low so banks could recapitalize by lending at an abnormally high spread and stimulate economic activity by expanding credit.
Yeah, that's worked out real well, hasn't it? Nothing like the Fed eroding our $ while at the same time forcing us into the Wall St. game to try and avoid said erosion only to take on the risk that many have no business taking on.
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Old 02-26-2014, 07:32 PM   #48
cosmo20002 cosmo20002 is offline
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Originally Posted by petegz28 View Post
the fact you didn't even know about the meeting which created "The Fed" shows you have no clue about the topic and therefore should shut it.
I don't question that there was a meeting involved. This "so secret only first names were used" thing is hilarious though.

The last business meeting I had, we also only used first names. Because we all knew each other.
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Old 02-26-2014, 07:36 PM   #49
petegz28 petegz28 is offline
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Originally Posted by cosmo20002 View Post
I don't question that there was a meeting involved. This "so secret only first names were used" thing is hilarious though.

The last business meeting I had, we also only used first names. Because we all knew each other.
It may be hilarious but it's a fact. Laugh at it all you want it doesn't change the fact. You're just hopelessly ignorant on the subject but that's not my problem.
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Old 02-26-2014, 07:38 PM   #50
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Originally Posted by cosmo20002 View Post
I don't question that there was a meeting involved. This "so secret only first names were used" thing is hilarious though.

The last business meeting I had, we also only used first names. Because we all knew each other.

Quote:
These men were told once on board the train to use only their first names because they didnít want the servants and wait staff to recognize them together. Two of the men even adopted code names.

http://www.a-equals-a.com/history-of-the-fed.html
I'm sure your last meeting was just as important though......dumbass
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Old 02-26-2014, 07:56 PM   #51
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Yeah, that's worked out real well, hasn't it? Nothing like the Fed eroding our $ while at the same time forcing us into the Wall St. game to try and avoid said erosion only to take on the risk that many have no business taking on.
It has worked really well. Banks and businesses have improved their balance sheets. High yield names have lessened their leverage. Ironically, high quality companies have increased their leverage (which won't really be an issue until 2016 when we have a maturity wall starting to hit). We have seen economic growth since 2009 despite tight fiscal conditions.
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Old 02-26-2014, 07:58 PM   #52
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Originally Posted by petegz28 View Post
I'm sure your last meeting was just as important though......dumbass
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These men were told once on board the train to use only their first names because they didn’t want the servants and wait staff to recognize them together. Two of the men even adopted code names.

http://www.a-equals-a.com/history-of-the-fed.html


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As long as Jesus Christ was the president of the US and approved of it Yes.
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Old 02-26-2014, 08:05 PM   #53
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It may be hilarious but it's a fact. Laugh at it all you want it doesn't change the fact. You're just hopelessly ignorant on the subject but that's not my problem.
"Secret meetings, conspiracies what a joke"... some people are just so easily fooled its crazy, just wrap it in a thin veneer of jokeability and let the the wiseass sheep do the rest for you.

Your government has been hijacked, democrat or republican doesnt matter, you've been hijacked by international bankers, from Bush to Clinton to Bush some from both parties are less susceptible, some more... but the system is bankrupt either way.

If they tout the Fed as a legit institution they are a bankster tool... period.

They owe America no allegiance by law, and they give us none.
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Old 02-26-2014, 08:05 PM   #54
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It has worked really well. Banks and businesses have improved their balance sheets. High yield names have lessened their leverage. Ironically, high quality companies have increased their leverage (which won't really be an issue until 2016 when we have a maturity wall starting to hit). We have seen economic growth since 2009 despite tight fiscal conditions.
Gee, I am sure the person on a tight budget that can't get a savings account that pays over .02% is pretty pleased to hear the banks are doing well. Never mind all the other ancillary effects of an eroding $ like increased costs of commodities. The important thing is those banks and big companies....**** the people who bailed them out. I mean like they matter, right??
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Old 02-26-2014, 08:06 PM   #55
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Yeah, historical fact now falls under tin-foil. You didn't even know there was a secret meeting yet somehow now you are in a position to say what is historical fact really isn't.
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Old 02-26-2014, 08:07 PM   #56
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Originally Posted by scott free View Post
"Secret meetings, conspiracies what a joke"... some people are just so easily fooled its crazy, just wrap it in a thin veneer of jokeability and let the the wiseass sheep do the rest for you.

Your government has been hijacked, democrat or republican doesnt matter, you've been hijacked by international bankers, from Bush to Clinton to Bush some from both parties are less susceptible, some more... but the system is bankrupt either way.

If they tout the Fed as a legit institution they are a bankster tool... period.

They owe America no allegiance by law, and they give us none.
Cosmo is just mad because he got schooled. He has no idea of how the Fed was formed and tried to call BS on what anyone who knows anything about it knows is historical fact. This is pretty normal behavior for him.
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Old 02-26-2014, 08:09 PM   #57
cosmo20002 cosmo20002 is offline
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Originally Posted by petegz28 View Post
Gee, I am sure the person on a tight budget that can't get a savings account that pays over .02% is pretty pleased to hear the banks are doing well. Never mind all the other ancillary effects of an eroding $ like increased costs of commodities. The important thing is those banks and big companies....**** the people who bailed them out. I mean like they matter, right??
It might help your cause and produce less derision if you at least focused on something of substance and not a secret first-name-only meeting 100 years ago and on something that is a problem and not a collateralized loan program that has never lost a penny.
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Old 02-26-2014, 08:11 PM   #58
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Originally Posted by petegz28 View Post
Gee, I am sure the person on a tight budget that can't get a savings account that pays over .02% is pretty pleased to hear the banks are doing well. Never mind all the other ancillary effects of an eroding $ like increased costs of commodities. The important thing is those banks and big companies....**** the people who bailed them out. I mean like they matter, right??
Commodities were down 9% in 2013 (Dow Jones UBS commodity index).
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Old 02-26-2014, 08:11 PM   #59
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Cosmo is just mad because he got schooled. He has no idea of how the Fed was formed and tried to call BS on what anyone who knows anything about it knows is historical fact. This is pretty normal behavior for him.

Schooled on what? Bottom line is that even if they wore masks and used aliases at a meeting 100 years ago, it is pretty much completely irrelevant to anything today.
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Old 02-26-2014, 08:15 PM   #60
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Sadly, JFK had signed an Executive Order which would've pretty much put the Federal Reserve out of the money printing business. He was assassinated soon after and the Order was pretty much swept under the rug.
I'm sure that was just a minor coincidence.
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