Most in US won't be able to escape 'fiscal cliff'

[A.wayne]

Yeah ..... Lol wiki ...

The federal reserve is a privately held bank , the president has no oversight or control over their operation, nor does he elect the head of the federal reserve , which is really the spoke person for the board...

If not GHW Bush would have fired greenspan if he could ..

Now to really impress me please go ahead and list the owners of the federal reserve ...

 

[Bill Hart]

Complete bogus. The Federal reserve system is a unique hybrid private / public construct, under congressional oversight, and with presidential appointments in key roles including the board of governers. All profits made by Federal reserve system accrue to the United States Treasure. Currency under the Federal reserve system is also created by the United States Department of the Treasury. If you are interested read up here.

http://en.wikipedia.org/wiki/Federal_Reserve_System

A.W. did clarify what the original poster meant, which helped me. As to whether having a central bank is a good idea, I gather that's been a subject of dispute since Jefferson. As have financial panics, runs on banks, etc. Which, I gather, was the justification for the Fed.

 

[A.wayne]

No the justification of the fed has deeper roots , go back and read up on woodrow wilson , JP Morgan and the federal reserve act ...

 

[Bill Hart]

No the justificstion of the fed has deeper roots , go back and read up on woodrow wilson , JP Morgan and the federal act ... reserve act ,

I remember that JP bailed out the US during the panic of what, 1907? But when you say deep roots, I had already mentioned Thomas Jefferson and he seemed to have the same concern you did- that a central bank was a means for its 'investors' to profit. Or are we going back to tulips? (Which reminds me of a joke I'm sure you know).

 

[A.wayne]

 

[rockitman]

As to whether having a central bank is a good idea, I gather that's been a subject of dispute since Jefferson. As have financial panics, runs on banks, etc. Which, I gather, was the justification for the Fed.

Exactly...despite it's flaws it is undisputable what is and will continue to be the world's currency of choice. The Greenback !

 

[A.wayne]

Only while we control the oil ....

 

[rockitman]

Only while we control the oil ....

That's the grand plan...use up all the world's oil first, then tap our remaining reserves...

 

[NorthStar]

Only while we control the oil ....

Guns are even more lucrative (all war instruments).

 

[edorr]

Yeah ..... Lol wiki ...

The federal reserve is a privately held bank , the president has no oversight or control over their operation, nor does he elect the head of the federal reserve , which is really the spoke person for the board...

If not GHW Bush would have fired greenspan if he could ..

Now to really impress me please go ahead and list the owners of the federal reserve ...

You are hoplessly wrong. The chairman of the FED is appointed by the president for 4 years and in the absence of cause (malfeasance) he cannot be fired by the president (nor anyone else for that matter) during his term. Congress could pass legislation to allow the the firing of the chairman of the FED, but deliberates chooses not to do so to keep monetary policy independent from political influence. The only institution that can create base money is the FED, which requires congressional autohorization. This base money is multiplied into broader measures of money supply through, credit expansion and fractional reserve banking. The FED may monetize debt through open market policy. Ultimately, the USA has complete control over its own money money supply through the FED system, and as much direct political influence over the FED as congress chooses it should have.

 

[A.wayne]

Sounds good but measures poorly , so i guess you are just hopeless ...

You See , actions =results ..!!!

You are blowing out what is usually spewed as info to the plebs, In reality this is not what is actually done or take's place. You are right in saying he cannot be fired, I will add , not by congress or the President.

actions =results ..!!!

Now we would have to assume that Bernanke supposedly chosen by GWB has done such an outstanding Job when the economy imploded, that incoming , Hope and change, open government, getting back to basics, BHO decided ( by choice ) to keep him , mind you this is after presidential candidate BHO was also endorsed by the FED chairman ..... ( conflict and grounds for termination )


" According to Allan Meltzer, a professor of economics at Carnegie Mellon and the author of an authoritative history of the Federal Reserve, James Tobin, a member of John F. Kennedy’s first Council of Economic Advisers, advocated firing then-Fed chairman William McChesney Martin while on the campaign trail. After the election, however, Martin not only refused to step down, he also eventually was reappointed for another term by Kennedy. In 1969, President Nixon also wanted to remove Martin, and offered him the position of Treasury Secretary. Martin declined, and filled out his term a year afterward."


So here we go again, elected by a president , who actually wanted him out and we all know what Nixon became famous for , do you .?


Presently there has been no change or deviations from the path chosen by these same players today, collecting the same bounty, business as usual, you should ask yourself how is it the incompetent Tim Geithner was promoted instead of being shown the door, How was the FED chairman allowed to endorsed a Presidential candidate and not be removed by congress for conflict of interest and mostly why is it you have avoided answering my question ...

My Question ...!

Names , Please name the owners of the federal reserve, Yes, where are the names of these Private owners .....

Waiting Patiently...

The President and congress is powerless over the federal reserve , hence the currency comment earlier in the thread , feel free to give me real data, like those were congress has removed a Fed chairman or enforced it's supposedly laws to protect it's citizens, every move made is to strenghten the powers of the international bankers and their puppets ...

Ask Gadaffy, their still holding onto his fortune ...
Ask Ambassador Scott, who negotiated the deal ...
Ask Hillary Clinton who was to testify to congress on this ........
etc, etc, etc,

Actions and results ...!!!

The List please, i want to see these owners, not some fairy tale concept passed of as law and ohhh while you are at it , ask the FED for the M3 numbers .....


PS: Was there really a Fiscal Cliff ...

 

[NorthStar]

-- Are these people the same guys who run the NHL?

 

[A.wayne]

No,

Those guys are much , much, more competent .......

 

[NorthStar]

-- Are you shure?

 

[edorr]

Sounds good but measures poorly , so i guess you are just hopeless ...

You See , actions =results ..!!!

You are blowing out what is usually spewed as info to the plebs, In reality this is not what is actually done or take's place. You are right in saying he cannot be fired, I will add , not by congress or the President.

actions =results ..!!!

Now we would have to assume that Bernanke supposedly chosen by GWB has done such an outstanding Job when the economy imploded, that incoming , Hope and change, open government, getting back to basics, BHO decided ( by choice ) to keep him , mind you this is after presidential candidate BHO was also endorsed by the FED chairman ..... ( conflict and grounds for termination )


" According to Allan Meltzer, a professor of economics at Carnegie Mellon and the author of an authoritative history of the Federal Reserve, James Tobin, a member of John F. Kennedy’s first Council of Economic Advisers, advocated firing then-Fed chairman William McChesney Martin while on the campaign trail. After the election, however, Martin not only refused to step down, he also eventually was reappointed for another term by Kennedy. In 1969, President Nixon also wanted to remove Martin, and offered him the position of Treasury Secretary. Martin declined, and filled out his term a year afterward."


So here we go again, elected by a president , who actually wanted him out and we all know what Nixon became famous for , do you .?


Presently there has been no change or deviations from the path chosen by these same players today, collecting the same bounty, business as usual, you should ask yourself how is it the incompetent Tim Geithner was promoted instead of being shown the door, How was the FED chairman allowed to endorsed a Presidential candidate and not be removed by congress for conflict of interest and mostly why is it you have avoided answering my question ...

My Question ...!

Names , Please name the owners of the federal reserve, Yes, where are the names of these Private owners .....

Waiting Patiently...

The President and congress is powerless over the federal reserve , hence the currency comment earlier in the thread , feel free to give me real data, like those were congress has removed a Fed chairman or enforced it's supposedly laws to protect it's citizens, every move made is to strenghten the powers of the international bankers and their puppets ...

Ask Gadaffy, their still holding onto his fortune ...
Ask Ambassador Scott, who negotiated the deal ...
Ask Hillary Clinton who was to testify to congress on this ........
etc, etc, etc,

Actions and results ...!!!

The List please, i want to see these owners, not some fairy tale concept passed of as law and ohhh while you are at it , ask the FED for the M3 numbers .....


PS: Was there really a Fiscal Cliff ...

The private banking industry (including all national banks) "owns" the 12 Federal reserve banks, but that is a bit of a red herring, because they are simply required by law to invest 3% of their capital stock in the FED system. Despite this ownership, they do not have a majority voting right on the open market committee, which sets monetary policy.

I fully agree with you that the relationship between the financial services industry, its regulators and the government is totally incestuous, corrupt and fraught with conflict of interest. This phenomenon is of course not unique to the financial services industry.

However, the notion that the USA does not control its own currency / money supply is simply incorrect.

 

[A.wayne]

I'm saying the Citizens of the USA has no control over the Federal reserve, who in turns issues said currency and charges them interest and since it's not owned nor controlled by said tax paying citizens , but privately owned and controlled by individuals of unknown Identity, we the people have no say over this fiat currency, regardless of the laws and regulations it was sold to us on..!!


That's what I'm saying ....

 

[Steve williams]

So A Wayne I'm curious as to who the private owners of the Federal Reserve Board are

 

[NorthStar]

--- http://rainbowwarrior2005.wordpress.com/2008/09/29/federal-reserve-owners-and-history/

-- ...Everything you wanna and owe to know.

 

[A.wayne]

So A Wayne I'm curious as to who the private owners of the Federal Reserve Board are

Me too, I was hoping Edorr would have the answer ..... it's the 16 trillion dollar question ...


“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”

– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s

 

[A.wayne]

--- http://rainbowwarrior2005.wordpress.com/2008/09/29/federal-reserve-owners-and-history/

When anything starts with GWB as the scape goat , run, less facts than audio opinionated mags ....