Originally posted by: Mavtek3100
Originally posted by: yllus
Originally posted by: Mavtek3100
Especially the Federal Reserve must hold their meetings on Public Television! That's great! Did anyone catch the big one here? I thought this was classic indeed.
Actually that's probably one of the dumbest ideas to ever come out of his pen. Why is it I get the feeling that none of the advocates for this crap have ever worked for a decent-sized company in a decision making role?
Why is it you assume that the Fed who controls our publicly traded currency shouldn't be transparent?
Controlling and forming the information that comes out of your organization is essential to making sure people clearly understand what you're trying to do. Not to mention how many people would instantly start cutting up pieces from various meetings and piecing them together without context solely to create hysteria. Brilliant plan considering how important market confidence is when it comes to the Fed's operations.
Does it matter if people understand it or not? Do you think people who watch CSPAN understand all that the Congress does? It's not going to change what they do, but it's certainly going to hold them accountable when they fuck up. What do they say in these meetings that would cause mass hysteria? Are you saying the Fed controls our monetary system to the point of mass hysteria? That's certainly not the position you held earlier.
So, what about shareholders and board meetings? Wouldn't it be equally as important for them to see everything, since the BoD controls their share's performance? What about the CIA or FBI, it's important that we see what's going on there, FOI isn't enough, right?
I wish the CIA were gone, that's just me personally as far as "PRIVATE" companies and their board meetings go, yes they should all be on PPV. Of course only if they want to be though....... I have to say this is about the stupidest comparison to date.
What about anything where ideas that aren't filtered so the public doesn't go ape-shit about them?
Well I guess it could happen you certainly seem to go apeshit over ideas....
Do you remember the Briefcase Barometer from the Greenspan days, where they would take anything he said or did, including what size briefcase he was using, to determine what was going on with the economy?
Yea wouldn't it be great to actually know what the fuck they are going to do rather than speculate bullshit based on the Chairman's fucking briefcase? You're strengthening my position, thanks!
Seriously, you guys just don't know what the hell is needed to keep the markets clean. Even now people listen to the slightest nuace in board meetings which could indicate whether the company's performance is good or not. Hell, look what happened during the more recent Bear Sterns call, or countrywide. Even the slightest idea can be taken out of context, which is why those calls are heavily scripted.
What does that have to do with the Fed's board meetings? Why does the Fed care about what the Bear Sterns is doing?
What you don't realize is that BoD meetings or BoG meetings for the Fed are arenas for discussions to take place. Ideas, projections, solutions, warnings, opinions, are all tossed around. Direct exposure to these would result in people misinterpreting situations. For example, if 1 governor thought we should raise rates, the market would try to peg % likelihood on that, given power blocks, influence of that certain bank, the economy of the Fed bank area, and other factors.
Oh no, so what your saying is that people knowing things would cause more hysteria and conspiracy theories and more BS in the markets! Oh wait uh, you're supporting Ron Paul's position again without even realizing it.
Furthermore, the sounding board that is a Fed meeting is for the creation of new ideas. A BoD of any company is the same thing, as they use those meetings to direct the future of each company. It's akin to throwing shit on a wall and seeing what sticks. If you open that up to anybody, they will misinterpret anything possible. Volatility would increase as analysts ran different projections. People would speculate about any number of variables.
Oh so what you are saying is the Fed should deserve the same respect that a "private company" would even though they very clearly manipulate the Public's money supply and the Free market. That makes so much sense...........
This is the problem I have with people who have no financial education, no market experience, and no solid economics experience, those who read books and bandy theories rather than practicum, start trying to dictate and implement massive change. It produces nothing but a bunch of prognosticators who think they know a lot, but in reality, no nothing at all.
Well lawdee daw! That is the problem I have with you, you stick to your "education", your "market experience" and refuse to open your mind, to alternative theories simply because that isn't the way it's currently done or the way you were taught. Holy hell you're so indoctrinated you haven't used your own intelligence, which you must have some, to even consider these other views.
It's dangerous because they, through their ignorance, can literally sink this country in days, not weeks or years or decades.
Yes, I agree with you there, the Fed could easily do that.
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