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ghaws (December 31, 1969 at 6:59 pm)
In fact, you would be wrong; the Federal Reserve system is, indeed, more "federal" than Federal Express. Go do some research on Wikipedia (this takes time, patience, and some amount of cerebral capacity). First of all (and most importantly), all the members of the Fed Board of Governors are appointed by the President (and confirmed by the Senate). Since the Fed Board of Governors is the body that ultimately sets monetary policy, I'd say that makes it pretty much Federal.
ghaws (December 31, 1969 at 6:59 pm)
The point is that we're now held hostage by the banks who made bad decisions, and it's too late to reverse them. We either have to pay the ransom (bailout) or else allow the banks to fail and drag the rest of the entire economy into the toilet with them. There is now at least some modicum of oversight (they knew they couldn't get away with it, but they're lawyers; they're always negotiating), but now that they've resorted to direct infusions of equity capital it matters a lot less.
Daelyn75 (December 31, 1969 at 6:59 pm)
Barack Obama The Racist - In His Own WordsMichelle Obama "WHITEY" videoLook them up in their own words and writings. People like you kill me, liberal blacks can do no wrong, its all whities fault.This coming from a White Man married to a Black woman, we don't need any racism at all. As far as both McCain and Obama are both going to destroy America, at least McCain isn't a raving racist, Anti-American, Anti-Western so called "The Messiah" by all the ignorant liberals.
jenhba (December 31, 1969 at 6:59 pm)
I'm glad your strong predictions won't amount to crap. Bush has messed crap up so bad no one can top it. You just base as most racist do your opinion on your racism. I predict your predictions will be just what they are and that is worthless. If Obama has the help of Congress he may be able to help a little but Bush's mess is too much to overcome in a short time. This also shows that you probably voted for McCain and that would have been more of the same Bush bs.
jenhba (December 31, 1969 at 6:59 pm)
People like you kill me. You don't say how racist Bush is and his not liking anyone that's not white but ready to talk crap agains Obama and don't have a clue. Speak what you know and not what someone else says.
saradinicola (December 31, 1969 at 6:59 pm)
It is a private banking cartel since 1913 that was secretly conceived, then voted in when the Congressmen who would have voted against it went home for Christmas break....It is completely illegal according the the Constitution which is clear about who should print the money & who should decide how much..... Woodrow Wilson completely regretted signing it into law and knew he sold his country down the river....This history is completely verifiable, not conspiracy theory: CONSPIRACY FACT.
saradinicola (December 31, 1969 at 6:59 pm)
2nd part of ques. from ghaws: How does cheating us out of far more than $700 Billion not sink us, the people...You actually trust banks have already spent the first half in our behalf?...It's not suspicious to you that they wrote it into the bill to make sure there was no oversight, no accounting, no transparency?...Are you even aware that the Federal Reserve is no more "federal" than Federal Express?
saradinicola (December 31, 1969 at 6:59 pm)
The first vote was NO, then enough of those who voted against the bailout were taken aside and threatened with martial law. (some of those threatened told journalist "off the record")...Believing this or not does not change the truth (and I'm referring to myself also)....I choose to believe it since it fits in with all other evidence, going back to the rigged vote on the Federal Reserve in 1913
ghaws (December 31, 1969 at 6:59 pm)
I don't know what exactly you're referring to. Congress is certainly exercising its own free will because it realizes that a systemic banking crisis/financial panic can quickly sink everyone, not just the banks.
ghaws (December 31, 1969 at 6:59 pm)
The point is that it enables the Fed to manage the supply of money so that it doesn't expand or contract too quickly, thereby keeping prices stable. Global asset markets ultimately set prices, but it helps to have a way to take the edge off of capital inflows and outflows, which can be rapid and painful. The Fed is so huge that it is what is known as a "market maker"; it generates excess profits from its open market bond trading operations because it has the biggest chip stack at the table. |
