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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, 08:16 PM   #61
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One thing that diminishes the credibility of all these conspiracy theories in my mind is that the same people who are inclined to believe in any particular one of them also seem eager to believe in any other conspiracy theory. Yep, there's a conspiracy behind this. Oh, I bet there's one behind that too...

There's plenty of room to debate policy on the money supply without veering off into quackery, so why do so?
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Old 02-26-2014, 08:16 PM   #62
petegz28 petegz28 is offline
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Quote:
Originally Posted by KC native View Post
Commodities were down 9% in 2013 (Dow Jones UBS commodity index).
Gee, 1 year? What are they since the crash?
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Old 02-26-2014, 08:23 PM   #63
petegz28 petegz28 is offline
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Originally Posted by KC native View Post
Commodities were down 9% in 2013 (Dow Jones UBS commodity index).
In fact let's elaborate on this....1 year as you know is not a very long time. Secondly are you advocating that these super low interest rates are actually benefiting the everyday person? If so, how? How is eroding the value of the $ creating more spending power for the middle and lower classes? How is a savings account paying .02% beneficial when inflation is between 1.5%-2.0%?
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Old 02-26-2014, 08:25 PM   #64
cosmo20002 cosmo20002 is offline
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Originally Posted by rockymtnchief View Post
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.
So how many people/organizations are there now that had a motive and therefore for sure killed him? Triple digits I'm sure.
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Old 02-26-2014, 08:27 PM   #65
cosmo20002 cosmo20002 is offline
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Quote:
Originally Posted by Cochise View Post
One thing that diminishes the credibility of all these conspiracy theories in my mind is that the same people who are inclined to believe in any particular one of them also seem eager to believe in any other conspiracy theory. Yep, there's a conspiracy behind this. Oh, I bet there's one behind that too...

There's plenty of room to debate policy on the money supply without veering off into quackery, so why do so?
It's also fun when they believe in multiple theories that contradict each other.
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Old 02-26-2014, 08:28 PM   #66
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Quote:
Originally Posted by petegz28 View Post
Gee, 1 year? What are they since the crash?
Pretty flat. I'll get you the number tomorrow.
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Old 02-26-2014, 08:30 PM   #67
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Quote:
Originally Posted by petegz28 View Post
In fact let's elaborate on this....1 year as you know is not a very long time. Secondly are you advocating that these super low interest rates are actually benefiting the everyday person? If so, how? How is eroding the value of the $ creating more spending power for the middle and lower classes? How is a savings account paying .02% beneficial when inflation is between 1.5%-2.0%?
Inflation just hit over 1% recently. It has been non-existent since the crisis until very recently.
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Old 02-26-2014, 08:33 PM   #68
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Quote:
Originally Posted by KC native View Post
Inflation just hit over 1% recently. It has been non-existent since the crisis until very recently.
hmm, I think the prices at the pump and the cash register disagree.
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Old 02-26-2014, 08:35 PM   #69
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Quote:
Originally Posted by KC native View Post
Inflation just hit over 1% recently. It has been non-existent since the crisis until very recently.
Chart I am looking at says inflation has been over 1.5% since 2010
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Old 02-26-2014, 08:48 PM   #70
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Quote:
Originally Posted by Cochise View Post
One thing that diminishes the credibility of all these conspiracy theories in my mind is that the same people who are inclined to believe in any particular one of them also seem eager to believe in any other conspiracy theory. Yep, there's a conspiracy behind this. Oh, I bet there's one behind that too...

There's plenty of room to debate policy on the money supply without veering off into quackery, so why do so?
Quit using the theories of others on a myriad of things as the excuse to ignore the ONE thing you find somehow questionable.

For example... do YOU trust the FED with American money, when they can give one word answers to Congressmen and walk away, do you trust that they have this nations best interests at heart? If not, just how much American money ARE you willing to give away before it chaps your ass?

Cypress has had money stolen from them, food prices are skyrocketing.
Ukraine... headed there.
Venezuela, stolen money, outrageous food prices.

When does all o this catch up to America? never? ****ing please, we're unfortunately a part of the global economy now... heres a good question, why are WE exempt from extreme grocery and gas prices, if wealth takeover is possible in Cyprus, why wouldn't it be allowed here in time?

I'm not claiming imminent danger, but the fact is that simple "what if" questions pretty much get blown out the door here, that in itself is scary... "where are the American peoples heads at, what would they do to defend this country in the face of the EXTREME?"
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Old 02-26-2014, 09:07 PM   #71
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Originally Posted by scott free View Post
Quit using the theories of others on a myriad of things as the excuse to ignore the ONE thing you find somehow questionable.

For example... do YOU trust the FED with American money, when they can give one word answers to Congressmen and walk away, do you trust that they have this nations best interests at heart? If not, just how much American money ARE you willing to give away before it chaps your ass?

Cypress has had money stolen from them, food prices are skyrocketing.
Ukraine... headed there.
Venezuela, stolen money, outrageous food prices.

When does all o this catch up to America? never? ****ing please, we're unfortunately a part of the global economy now... heres a good question, why are WE exempt from extreme grocery and gas prices, if wealth takeover is possible in Cyprus, why wouldn't it be allowed here in time?

I'm not claiming imminent danger, but the fact is that simple "what if" questions pretty much get blown out the door here, that in itself is scary... "where are the American peoples heads at, what would they do to defend this country in the face of the EXTREME?"
We are exempt namely because the world's commodities are denominated in US $'s. But as the Fed keep eroding the $ the prices will continue to climb. I have listened to several economists now and other financial people that are starting to state that the excessively low interest rates are hurting because of the effect it has on the every day, middle class. I have been arguing it for the last couple years but it's nice to hear others saying it as well.
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Old 02-26-2014, 09:12 PM   #72
cosmo20002 cosmo20002 is offline
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Originally Posted by scott free View Post
When does all o this catch up to America? never? ****ing please, we're unfortunately a part of the global economy now... heres a good question, why are WE exempt from extreme grocery and gas prices, if wealth takeover is possible in Cyprus, why wouldn't it be allowed here in time?
Scot, please. Just stop. These comparisons are ludicrous.
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Old 02-26-2014, 09:25 PM   #73
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Originally Posted by cosmo20002 View Post
Scot, please. Just stop. These comparisons are ludicrous.
Yeah, ludicrous...we just handed over almost $1 tril in tax payer $'s to the banks and bankers but Scott is full if it.......
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Old 02-26-2014, 09:57 PM   #74
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Scot, please. Just stop. These comparisons are ludicrous.
2.2 TRILLION... lets just say it again for effect... 2.2 trillion.

Where did it go?... we might know, but we're not telling YOU Mr. Representative of the People and you cant stop SHIT, if that is Democracy, if that is a Republic then you're FOS.

Stop being a pawn, Cosmo and start being an American, who while he differs here and there vigorously, is ultimately aware of what globalization is doing to this country, how it is eroding our sovereignity slowly but surely...

When outrageous gas and grocery prices reach us in 2-3 years, and your stocks melt to near zero, don't blame me, that's all I'm asking... it hasn't happened yet, so slaughter me and others at will, it makes for funny and engaging reading.

But anyway Cos, you're a thinking American, much as I hate to admit because you're constantly all over any dissents ass... but you're a smart guy who isn't seeing the forest for the trees.

Bernanke, Paulson whoever, they're ilk... they. owe. NO ALLEGIANCE... they can lap it up in Thailand or wherever while the world burns... go look up the Georgia Guidstones.

Sound silly? it is... Federally protected monuments to the destruction of atleast a third of the country, bunch of hooey you say? Hundreds of locals have tried to to get rid of them and their population control message.

Anyway, don't care who here ignore me for these views, there were plenty enough who ignored me anyway LOL, but for those who think every and all conspiracies are the detritus of fevered minds, I only ask that you do some honest reading of the material beyond sanctioned outlets.

The truth is ugly as sin... kook me out forevermore on CP, don't give a damn if you do... too crazy to talk to, whatever, **** it still don't care.

SF, truthseeking kook.
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Old 02-26-2014, 11:21 PM   #75
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Originally Posted by scott free View Post
2.2 TRILLION... lets just say it again for effect... 2.2 trillion.

Where did it go?... we might know, but we're not telling YOU Mr. Representative of the People and you cant stop SHIT, if that is Democracy, if that is a Republic then you're FOS.

Stop being a pawn, Cosmo and start being an American, who while he differs here and there vigorously, is ultimately aware of what globalization is doing to this country, how it is eroding our sovereignity slowly but surely...

When outrageous gas and grocery prices reach us in 2-3 years, and your stocks melt to near zero, don't blame me, that's all I'm asking... it hasn't happened yet, so slaughter me and others at will, it makes for funny and engaging reading.

But anyway Cos, you're a thinking American, much as I hate to admit because you're constantly all over any dissents ass... but you're a smart guy who isn't seeing the forest for the trees.

Bernanke, Paulson whoever, they're ilk... they. owe. NO ALLEGIANCE... they can lap it up in Thailand or wherever while the world burns... go look up the Georgia Guidstones.

Sound silly? it is... Federally protected monuments to the destruction of atleast a third of the country, bunch of hooey you say? Hundreds of locals have tried to to get rid of them and their population control message.

Anyway, don't care who here ignore me for these views, there were plenty enough who ignored me anyway LOL, but for those who think every and all conspiracies are the detritus of fevered minds, I only ask that you do some honest reading of the material beyond sanctioned outlets.

The truth is ugly as sin... kook me out forevermore on CP, don't give a damn if you do... too crazy to talk to, whatever, **** it still don't care.

SF, truthseeking kook.
It's been clearly explained where it went. Frankly, it's one of the clearer explanations you'll ever find on govt-related financial and economic matters.

As I said before, there are legitimate issues out there. Why you would choose to make a huge issue out of a collateralized short-term loan program with a 100% success rate is simply bizarre.
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