The Federal Reserve is...

[The Boston Dangler]

Originally posted by: GodlessAstronomer

Originally posted by: The Boston Dangler

Originally posted by: GodlessAstronomer
Your local high school called, they want their Ron Paul bots back (I assume that's where you're going with this).

care to elaborate?

Not until you confirm or deny that your intentions are to passive-aggressively attack the federal reserve and eventually promote Ron Paul.

obviously, you aren't interested in an intelligent discussion. after making an incorrect assumption and an insult, when asked for an explanation, you (passive-aggressively) claim i'm attacking the federal reserve and will in the future promote a politician you alone mentioned, not once but twice.

you are, in fact, a giant clown douche.

 

[SphinxnihpS]

LOL! ^^^

 

[lozina]

What crazy Ron Paul supporters ??

*looks around*

edit: oh oops, I forgot I cleared my sig this summer.

 

[LegendKiller]

Originally posted by: richardycc
read the creature from jekyll island and learn all about the Fed Reserve.

Which has a good amount of fiction, a huge amount of half-truths, and a massive amount of outright lies.

 

[LegendKiller]

Originally posted by: manowar821

Originally posted by: GodlessAstronomer

Originally posted by: The Boston Dangler

Originally posted by: GodlessAstronomer
Your local high school called, they want their Ron Paul bots back (I assume that's where you're going with this).

care to elaborate?

Not until you confirm or deny that your intentions are to passive-aggressively attack the federal reserve and eventually promote Ron Paul.

Some of us wanted to see the federal reserve burn to the ground before ever hearing the name "Ron Paul".

And most educated people realize that the people who want it to burn to the ground have no fricking clue how a modern economy works.

 

[JDub02]

Originally posted by: lozina
What crazy Ron Paul supporters ??

*looks around*

edit: oh oops, I forgot I cleared my sig this summer.

I used to think he was crazy .... not so much anymore.

 

[LegendKiller]

The Fed is quasi government. It has government oversight, it's board is government appointed, it answers to Congress and only exists because Congressional allowance, it also has an annual financial report to Congress which is audited by a 3rd party external auditor.

Owners of the Fed are the companies who participate in the system. Why? Because they are the ones who should have an interest in the stability of the Fed. The Fed wasn't created for the government to control the banking system. It was created to allow the banks to go to an entity in time of need, for liquidity and reserves. Before the Fed existed, J.P. Morgan existed as a de facto Fed chairman, arranging liquidity for banks. he saved the US Government from insolvency twice, as well as the City of New York a couple times.

 

[lozina]

Originally posted by: WikiPedia
Current functions of the Federal Reserve System include:

1. To address the problem of banking panics FAIL
2. To serve as the central bank for the United States
3. To strike a balance between private interests of banks and the centralized responsibility of government FAIL
* To supervise and regulate banking institutions FAIL
* To protect the credit rights of consumers FAIL
4. To manage the nation's money supply through monetary policy
* maximum employment FAIL
* stable prices FAIL
* moderate long-term interest rates FAIL
5. To maintain the stability of the financial system and contain systemic risk in financial markets FAIL
6. 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
7. To strengthen U.S. standing in the world economy FAIL

 

[LegendKiller]

Originally posted by: lozina

Originally posted by: WikiPedia
Current functions of the Federal Reserve System include:

1. To address the problem of banking panics FAIL...They are trying.
2. To serve as the central bank for the United States
3. To strike a balance between private interests of banks and the centralized responsibility of government FAIL...How?
* To supervise and regulate banking institutions FAIL...Not omnipotent.
* To protect the credit rights of consumers FAIL...Not omnipotent.
4. To manage the nation's money supply through monetary policy
* maximum employment FAIL...Unemployment is still pretty low
* stable prices FAIL...hasn't done a horrible job, prices went up for reasons beyond their control.
* moderate long-term interest rates FAIL. 30-year mortgage rates are still damn cheap.
5. To maintain the stability of the financial system and contain systemic risk in financial markets FAIL....Not omnipotent.
6. 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
7. To strengthen U.S. standing in the world economy FAIL...Economy has grown far larger, far faster, in the last 95 years of the Fed, than the prior 95 years without the Fed.

There is a lot of stuff outside the Fed's control, such as higher capital constraints, regulatory oversight, investor reporting oversight, and leverage. The Fed was never intended to be an omnipotent power that could accompish everything to maintain an egalitarian financial market using unilateral power.

The Libertopian idea of eliminating the Fed is laughable, as their system for replacement has been proven in the past to not work and was even worse.

But of course, they'd rather see us as farmers and nail makers.

 

[lozina]

Originally posted by: LegendKiller

The Libertopian idea of eliminating the Fed is laughable, as their system for replacement has been proven in the past to not work and was even worse.

But of course, they'd rather see us as farmers and nail makers.

Has it? You mean the system we had in place for the first few hundred years of our nation's existence when we flourished from a backwards colonial outpost to a major superpower? The system which allowed us to keep a major portion of our earnings before this current system which requires a heavy tax burden on us including the income tax?

There was a few decades prior to the actual federal reserve being established where we had a more "lite" version of central banking system where we had all those "crazy bank panics" which paved the way for people to accept the federal reserve solution thinking it was going to solve all our problems. alot of pro federal reserve folk like to point to this period as a "reason" for having the fed, which is rather deceptive.

 

[yllus]

Do it! Kill the Federal Reserve! Then watch the rest of us industrialized nations that use a central banking system laugh our asses off.

 

[daniel1113]

You know, most people against the Fed wouldn't hold that position if it wasn't such a shady arrangement. The very least they could do is become a completely transparent organization. Until that happens, anyone that doesn't at least question the organization of the Fed is a fool.

 

[LegendKiller]

Originally posted by: daniel1113
You know, most people against the Fed wouldn't hold that position if it wasn't such a shady arrangement. The very least they could do is become a completely transparent organization. Until that happens, anyone that doesn't at least question the organization of the Fed is a fool.

Same thing with the CIA I guess.

 

[daniel1113]

Originally posted by: LegendKiller

Originally posted by: daniel1113
You know, most people against the Fed wouldn't hold that position if it wasn't such a shady arrangement. The very least they could do is become a completely transparent organization. Until that happens, anyone that doesn't at least question the organization of the Fed is a fool.

Same thing with the CIA I guess.

To a certain extent you are absolutely correct.

However, your opinion of libertarians is beyond laughable.

 

[LegendKiller]

Originally posted by: daniel1113

Originally posted by: LegendKiller

Originally posted by: daniel1113
You know, most people against the Fed wouldn't hold that position if it wasn't such a shady arrangement. The very least they could do is become a completely transparent organization. Until that happens, anyone that doesn't at least question the organization of the Fed is a fool.

Same thing with the CIA I guess.

To a certain extent you are absolutely correct.

However, your opinion of libertarians is beyond laughable.

No, it isn't. A libertopian is akin to a true communist in the naivete of how humanity works. Both have this great fuzzy idealism, but real world practices utterly fail them.

 

[IceBergSLiM]

a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

 

[darkxshade]

It's been a long time since my last history class but the answer clicked when I saw the last choice.

 

[JS80]

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

 

[JS80]

Originally posted by: LegendKiller

Originally posted by: lozina

Originally posted by: WikiPedia
Current functions of the Federal Reserve System include:

1. To address the problem of banking panics FAIL...They are trying.
2. To serve as the central bank for the United States
3. To strike a balance between private interests of banks and the centralized responsibility of government FAIL...How?
* To supervise and regulate banking institutions FAIL...Not omnipotent.
* To protect the credit rights of consumers FAIL...Not omnipotent.
4. To manage the nation's money supply through monetary policy
* maximum employment FAIL...Unemployment is still pretty low
* stable prices FAIL...hasn't done a horrible job, prices went up for reasons beyond their control.
* moderate long-term interest rates FAIL. 30-year mortgage rates are still damn cheap.
5. To maintain the stability of the financial system and contain systemic risk in financial markets FAIL....Not omnipotent.
6. 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
7. To strengthen U.S. standing in the world economy FAIL...Economy has grown far larger, far faster, in the last 95 years of the Fed, than the prior 95 years without the Fed.

There is a lot of stuff outside the Fed's control, such as higher capital constraints, regulatory oversight, investor reporting oversight, and leverage. The Fed was never intended to be an omnipotent power that could accompish everything to maintain an egalitarian financial market using unilateral power.

The Libertopian idea of eliminating the Fed is laughable, as their system for replacement has been proven in the past to not work and was even worse.

But of course, they'd rather see us as farmers and nail makers.

Clearly, the fed should be eliminated and we should be bartering and not using currency.

 

[IceBergSLiM]

Originally posted by: JS80

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

Wrong.

 

[LegendKiller]

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

Wrong.

he is correct. It is part of their mandate. The Fed must dividend money to the banks which hold reserves in the Fed, the returns are dictated by the National Association charter. The remainder is dividended to the Treasury.

 

[IceBergSLiM]

Originally posted by: LegendKiller

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

Wrong.

he is correct. It is part of their mandate. The Fed must dividend money to the banks which hold reserves in the Fed, the returns are dictated by the National Association charter. The remainder is dividended to the Treasury.

It is profitable to shareholders though still holds true. Something like 6 percent dividends. No NPO's I've heard of give dividends

 

[LegendKiller]

Originally posted by: IcebergSlim

Originally posted by: LegendKiller

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

Wrong.

he is correct. It is part of their mandate. The Fed must dividend money to the banks which hold reserves in the Fed, the returns are dictated by the National Association charter. The remainder is dividended to the Treasury.

It is profitable to shareholders though still holds true. Something like 6 percent dividends. No NPO's I've heard of give dividends

It doesn't make a profit. *everything* is given to the holder of the shares and the government.

The holders of the "shares" are nothing more than participants in the system. They fund the reserves of the Fed, which are nothing more than participations in the central bank. Every bank that is a National Association, is a participant in the system. The shares are not traded, they are bought and held as a participation. As such, they are given a return commensurate to their fractional interest in the Fed.

As a shareholder of a NA, would you want them giving money to the Fed, without getting a return?

After the dividend, the Fed takes off costs and returns the remainder to the Treasury, I think the amount returned was something like 40BN+ annually.

 

[IceBergSLiM]

Originally posted by: LegendKiller

Originally posted by: IcebergSlim

Originally posted by: LegendKiller

Originally posted by: IcebergSlim

Originally posted by: JS80

Originally posted by: IcebergSlim
a for profit institution. That is all you need to know everything else is secondary as we know there alliance is to shareholder profits and not necessarily to the benefit of the country and its citizens.

It's non-profit. All Fed profits are transferred to the US Treasury.

Wrong.

he is correct. It is part of their mandate. The Fed must dividend money to the banks which hold reserves in the Fed, the returns are dictated by the National Association charter. The remainder is dividended to the Treasury.

It is profitable to shareholders though still holds true. Something like 6 percent dividends. No NPO's I've heard of give dividends

It doesn't make a profit. *everything* is given to the holder of the shares and the government.

The holders of the "shares" are nothing more than participants in the system. They fund the reserves of the Fed, which are nothing more than participations in the central bank. Every bank that is a National Association, is a participant in the system. The shares are not traded, they are bought and held as a participation. As such, they are given a return commensurate to their fractional interest in the Fed.

As a shareholder of a NA, would you want them giving money to the Fed, without getting a return?

After the dividend, the Fed takes off costs and returns the remainder to the Treasury, I think the amount returned was something like 40BN+ annually.

I'm not arguing these points we are saying the same thing here. I agree the shareholders hold non-transferable stock and I also agree they make a profit through dividends. The controlling banks Do have a profitable interest in the fed the also holds positions to influence policy of course. The fed entity itself is not "profitable" but to claim that no one profits from the fed system is obviously false as you just reasserted. The participants holding the non transferable shares clearly do make profits through dividends.

 

[jonks]

The Secret Service is under the auspices of what government entity? The answer is one of the choices in the poll. Sure you can look it up, but that's no fun.