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Thread: The Fed is Audited

  1. #11
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    Re: The Fed is Audited

    The Federal Reserve is aligned too closely with the World Bank and the IMF and for years they have been involved with programs that have been set up to drag Nations into economical situations they could not get out of no matter what they did.





    I personally talked with with John Perkins when his book came out and he is a credible man who is lucky to still be alive.

    The Fed is a part of all this, and had been since the start.

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    Re: The Fed is Audited

    Quote Originally Posted by Councilman View Post
    The Federal Reserve is aligned too closely with the World Bank and the IMF and for years they have been involved with programs that have been set up to drag Nations into economical situations they could not get out of no matter what they did.
    Which is amusing considering who owns basically the veto power within both organizations. Hint: The US.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: The Fed is Audited

    Quote Originally Posted by Jeezy View Post
    Without the Federal reserve, there's no one to control the discount rate, and no one to conduct open market operations of US treasuries.

    Essentially, there's no more national monetary policy.
    the same monetary policy that devalued the dollar some 95% in almost the same amount of years?

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    Re: The Fed is Audited

    Quote Originally Posted by majora$$hole View Post
    the same monetary policy that devalued the dollar some 95% in almost the same amount of years?
    Yes that same one.

    The Fed operates outside of the Constitution and the 3 body's of government. It shouldn't exist and should be removed. Yes there would be a vacuum that would have to be address and should/could be addressed - but not by creating another organization that works outside of the government, but one which requires both legislative and executive majority to run.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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    Re: The Fed is Audited

    Quote Originally Posted by Jeezy View Post
    Mr. Sanders hasn't "figured out" anything. It's been known since early June. Public knowledge for those who care to look.

    Primary Dealers List - Federal Reserve Bank of New York

    List of primary dealers:

    BNP Paribas Securities Corp. - foreign
    Barclays Capital Inc. - foreign
    Cantor Fitzgerald & Co.
    Citigroup Global Markets Inc.
    Credit Suisse Securities (USA) LLC - foreign
    Daiwa Capital Markets America Inc. - foreign
    Deutsche Bank Securities Inc. - foreign
    Goldman, Sachs & Co.
    HSBC Securities (USA) Inc. - foreign
    Jefferies & Company, Inc.
    J.P. Morgan Securities LLC
    MF Global Inc.
    Merrill Lynch, Pierce, Fenner & Smith Incorporated
    Mizuho Securities USA Inc. - foreign
    Morgan Stanley & Co. LLC
    Nomura Securities International, Inc - foreign.
    RBC Capital Markets, LLC - foreign
    RBS Securities Inc. - foreign
    SG Americas Securities, LLC - foreign
    UBS Securities LLC. -foreign



    If theses banks are required to participate in all auctions of U.S. government debt, carry out your monetary policy and lend to your citizens...

    ...how can you not bail them out at all? That these banks repatriate some of the money is an entirely separate problem, and should be taken up in Congress. That's the government's fault for a moronic lack of oversight. But they were always going to get some of the bailout. They HAVE to. The Fed, as a lender, was doing its job.
    Alot of that was brought out in the book, "Too Big To Fail". Four things are very clear to me in my reading of this book (I still haven't finished with it):

    1) The FedResv failed in its duty to audit investment banks. Had it done its duty, it would have discovered the "mark-to-market" and "off-balance sheet accounting" wrong-doing conducted by these banks long ago.

    2) Large investment banks were going to get bailed out by the Fed. That was a given due to the widespread systematic risk involved. There was just no way to let them fail without causing widespread economic problems to our economy.

    3) Goldman Sachs, JP Morgan and BofA all play key roles in "stablizing" the economy via bank bailouts...or shall I say, "capital infusions".

    4) Many people who now and have worked in Treasury and the Federal Reserve all come from "Corporate America", specifically investment banks with the largest alumni being...Goldman Sachs!

    Put it all together and it spells: "We are not going to allow our nation's economy to fail because if they (the banks) fall, we fall."
    Last edited by Objective Voice; 08-01-11 at 02:22 PM.

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    Re: The Fed is Audited

    Quote Originally Posted by majora$$hole View Post
    the same monetary policy that devalued the dollar some 95% in almost the same amount of years?
    Except.....

    Per capita disposable personal income, adjusted for inflation, increased 566% from 1933 to 2008, and has more than doubled since 1971. A dollar invested in the stock market at the beginning of 1933 would have been worth $2,513 at the end of 2008 – adjusted for inflation, that’s a real increase of 15,660%. A dollar invested at the beginning of 1971 would have been worth $33 at the end of 2008, or a 525% inflation-adjusted increase.

    But I mean yeah...I guess if you discount wage growth for the general population, a rise in living expectations for said population, and a general enlargement of the economy? We're in a real pickle. Oh THAT WASCALLY WABBIT FEDEWAL WESEWVE!
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    Thanks for your awesomeness, Jeezy.

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    Re: The Fed is Audited

    The fed was suppose to regulate the mortgage crisis in such a way that it was far smaller or didn't occur at all.
    It failed at this mission. However, after it failed and we had the mortgage crisis, the fed helped avert further financial meltdown with lending is part of the feds responsibility, it did that responsibly (I think).

    Being angry with the Fed is well placed IMO, just for other reasons!

    The problem with the fed is that it is fine with spending in a crisis, but it can't seem to handle the notion that it has to slow the economy while it's in a boom (via regulation, consumer protection, oversight, etc.) Using the below list, it failed at the first two bolded, however it did excecute the last two bolded.
    ========
    Current functions of the Federal Reserve System include:[7][31]

    To address the problem of banking panics
    To serve as the central bank for the United States
    To strike a balance between private interests of banks and the centralized responsibility of government
    To supervise and regulate banking institutions
    To protect the credit rights of consumers
    To manage the nation's money supply through monetary policy to achieve the sometimes-conflicting goals of maximum employment stable prices, including prevention of either inflation or deflation[32]
    moderate long-term interest rates
    To maintain the stability of the financial system and contain systemic risk in financial markets
    To provide financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
    To facilitate the exchange of payments among regions
    To respond to local liquidity needs
    To strengthen U.S. standing in the world economy
    Last edited by Mach; 08-01-11 at 06:13 PM.

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    Re: The Fed is Audited

    Quote Originally Posted by Jeezy View Post
    Mr. Sanders hasn't "figured out" anything. It's been known since early June. Public knowledge for those who care to look.

    Primary Dealers List - Federal Reserve Bank of New York

    List of primary dealers:

    BNP Paribas Securities Corp. - foreign
    Barclays Capital Inc. - foreign
    Cantor Fitzgerald & Co.
    Citigroup Global Markets Inc.
    Credit Suisse Securities (USA) LLC - foreign
    Daiwa Capital Markets America Inc. - foreign
    Deutsche Bank Securities Inc. - foreign
    Goldman, Sachs & Co.
    HSBC Securities (USA) Inc. - foreign
    Jefferies & Company, Inc.
    J.P. Morgan Securities LLC
    MF Global Inc.
    Merrill Lynch, Pierce, Fenner & Smith Incorporated
    Mizuho Securities USA Inc. - foreign
    Morgan Stanley & Co. LLC
    Nomura Securities International, Inc - foreign.
    RBC Capital Markets, LLC - foreign
    RBS Securities Inc. - foreign
    SG Americas Securities, LLC - foreign
    UBS Securities LLC. -foreign



    If theses banks are required to participate in all auctions of U.S. government debt, carry out your monetary policy and lend to your citizens...

    ...how can you not bail them out at all? That these banks repatriate some of the money is an entirely separate problem, and should be taken up in Congress. That's the government's fault for a moronic lack of oversight. But they were always going to get some of the bailout. They HAVE to. The Fed, as a lender, was doing its job.
    If you look at the (foreign) aspect of that list, we then can begin to understand why the fed funds over-nite auction rate < interest paid on excess reserves.

    Something interesting to consider!
    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: The Fed is Audited

    A private bank operating for profit? I am simply shocked. Honestly, I expected them to find more dirt than that when they finally got around to auditing the Fed. They probably just didn't do a thorough enough job or something.
    For: legalizing drugs, gay marriage, abortion, guns, universal health care, public sector jobs, nuclear power, free education, progressive taxation
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  10. #20
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    Re: The Fed is Audited

    Quote Originally Posted by Jeezy View Post
    Mr. Sanders hasn't "figured out" anything. It's been known since early June. Public knowledge for those who care to look.

    Primary Dealers List - Federal Reserve Bank of New York

    List of primary dealers:

    BNP Paribas Securities Corp. - foreign
    Barclays Capital Inc. - foreign
    Cantor Fitzgerald & Co.
    Citigroup Global Markets Inc.
    Credit Suisse Securities (USA) LLC - foreign
    Daiwa Capital Markets America Inc. - foreign
    Deutsche Bank Securities Inc. - foreign
    Goldman, Sachs & Co.
    HSBC Securities (USA) Inc. - foreign
    Jefferies & Company, Inc.
    J.P. Morgan Securities LLC
    MF Global Inc.
    Merrill Lynch, Pierce, Fenner & Smith Incorporated
    Mizuho Securities USA Inc. - foreign
    Morgan Stanley & Co. LLC
    Nomura Securities International, Inc - foreign.
    RBC Capital Markets, LLC - foreign
    RBS Securities Inc. - foreign
    SG Americas Securities, LLC - foreign
    UBS Securities LLC. -foreign



    If theses banks are required to participate in all auctions of U.S. government debt, carry out your monetary policy and lend to your citizens...

    ...how can you not bail them out at all? That these banks repatriate some of the money is an entirely separate problem, and should be taken up in Congress. That's the government's fault for a moronic lack of oversight. But they were always going to get some of the bailout. They HAVE to. The Fed, as a lender, was doing its job.
    Really? 16 TRILLION in bailouts has been known about since June? How does this NOT outrage you?

    Quote Originally Posted by Jeezy View Post
    Except.....

    Per capita disposable personal income, adjusted for inflation, increased 566% from 1933 to 2008, and has more than doubled since 1971. A dollar invested in the stock market at the beginning of 1933 would have been worth $2,513 at the end of 2008 – adjusted for inflation, that’s a real increase of 15,660%. A dollar invested at the beginning of 1971 would have been worth $33 at the end of 2008, or a 525% inflation-adjusted increase.

    But I mean yeah...I guess if you discount wage growth for the general population, a rise in living expectations for said population, and a general enlargement of the economy? We're in a real pickle. Oh THAT WASCALLY WABBIT FEDEWAL WESEWVE!
    Where are you getting these numbers? Source? You a shill for the FED or something?
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

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