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Thread: White House to paint grim fiscal picture: source

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goobieman View Post
    The power was delegated; it still ultimately rests with Congress, and remains delegated to the fed at the whim of same.
    Surely you realize this.
    Where does it state that the Federal government cannot charter banks?

    Also: you did not answer my question. Would you like a democratic controlled congress holding the keys to the printing press?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goldenboy219 View Post
    Where does it state that the Federal government cannot charter banks?
    I dont recall making the claim that anything does.

    Also: you did not answer my question. Would you like a democratic controlled congress holding the keys to the printing press?
    Irrelevant to my response - the fact remains that Congress already has the keys to the printing press.

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    Re: White House to paint grim fiscal picture: source

    [ame="http://www.youtube.com/watch?v=zWobmdjieHQ"]YouTube- DeMint Explains Why the Federal Reserve Should Be Audited[/ame]



    The man is right!


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goobieman View Post
    I dont recall making the claim that anything does.
    Then you have nothing against an independent central bank.

    Irrelevant to my response - the fact remains that Congress already has the keys to the printing press.
    Really? Then how come they do not control the money supply?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goldenboy219 View Post
    Then you have nothing against an independent central bank.
    Really? Then how come they do not control the money supply?
    I simply stated a fact which corrected your misconception that Congress does not control the printing press. You really do not need to respond beyond a simple 'yes, you're right, it does say that, right in the Constitution - thank you very much'.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by j-mac View Post
    What was his proposed legislation? Auditing the Fed except in the instances of:
    (1) transactions for or with a foreign central bank, government of a foreign country, or non-private international financing organization;

    (2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;

    (3) transactions made under the direction of the Federal Open Market Committee; or

    (4) a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to clauses (1)-(3) of this subsection.
    The funny part is:
    The Fed is already routinely audited at the same level that DeMintís bill would allow.
    source

    I always find it comical when the Gang of 5 talks finance. Why? It lacks any substance or insight
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goobieman View Post
    I simply stated a fact which corrected your misconception that Congress does not control the printing press. You really do not need to respond beyond a simple 'yes, you're right, it does say that, right in the Constitution - thank you very much'.
    They gave that power to the Fed. Try again

    Which is why they do not control the money supply. Or are you saying they do?
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goldenboy219 View Post
    They gave that power to the Fed. Try again
    I already adressed this - the power, while currently delegated to the fed, still remains ultimately with Congress, and may be recalled at any time, by simply passing legislation to that effect.

    Now, stop embarrasing yourself and simply admit that you were wrong.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Kandahar View Post
    Do any of you folks who are blaming Obama for the deficit have any actual solutions for what we can DO to prevent the deficit from ballooning over the next decade?
    I would start by identifying and establishing strict criteria for distressed or vulnerable demographics - children, the infirm, the elderly - and restructuring social programs so as to specifically target these demographics and them alone. Everyone else would just have to do what every other able-bodied adult in the history of mankind has done - take personal responsibility for your own well-being. If you can't do this on your own, then you probably deserve to die anyway.

    I would initiate tort reform in health care and allow people to purchase health insurance across state lines. I would also remove regulations from health insurance companies that mandate certain types of coverage. It's common knowledge that the least regulated sectors of the health care industry have seen a decline in prices along with an increase in quality; think plastic surgery and laser eye surgery.

    I would eliminate the minimum wage and eliminate any sort of "fair trade" agreements.

    I would identify all non-essential foreign military bases and decommission them.

    I would cut foreign aid by at least 50%.

    I would legalize marijuana and tax it. I would rescind all Federal drug laws, permitting states and municipalities to regulate as they see fit, and taxing them accordingly.

    I would eliminate all funding for the NEA.

    I would eliminate public financing of political campaigns.

    I would retain the unspent stimulus money and use it to pay down the debt.

    I would cut taxes.

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    Re: White House to paint grim fiscal picture: source

    Quote Originally Posted by Goobieman View Post
    I already adressed this - the power, while currently delegated to the fed, still remains ultimately with Congress, and may be recalled at any time, by simply passing legislation to that effect.
    Lets be truthful for a second. The legislation of which you are harboring on is:
    1. Reservation of Right to Amend
    The right to amend, alter, or repeal this Act is hereby expressly reserved.
    Now, i agree that the congress can abolish the Fed. However, that does not mean they "have the keys to the printing press."

    Now, stop embarrassing yourself and simply admit that you were wrong.
    You stated that congress has the power to control the money supply, and i said they do not. You agreed that they do not currently have this power, and offer as your argument "they could".

    Goobieman could be a democrat if he wanted to. He doesn't, so he is not a democrat.

    A correct statement would be, "the congress has the authority to repeal the Federal Reserve Act." You were wrong and are just twisting words to save face for the nth time this year.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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