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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 02-27-2014, 07:59 AM   #76
petegz28 petegz28 is offline
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Quote:
Originally Posted by cosmo20002 View Post
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.
As Scott said, you're too arrogant to see the forest for the trees. It was not "clearly explained" until the SCOTUS intervened. And the fact that "it went" in the first place is what he and others are talking about.

While you sit there and say something like Cyprus could never happen, the Fed Gov was handing over $800 bil of tax payer money to banks.
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Old 02-27-2014, 08:52 AM   #77
KC native KC native is offline
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Originally Posted by petegz28 View Post
Chart I am looking at says inflation has been over 1.5% since 2010
5 yr annualized return from DJ UBS Commodity Index Q413 end date is 1.51%.
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Old 02-27-2014, 08:56 AM   #78
KC native KC native is offline
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SF, Just plain ole kook.
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