Here's your new office.
Posted on 11/17/2016 10:01:43 AM PST by Right-wing Librarian
Wasn’t that the original Bretton Woods reserve currency deal, the dollar was to be backed by gold?
You win, they are totally transparant and when Janet Yellen warns congress not to increase oversight she is just kidding.
Yes, I believe you are correct, DR.
Perfect description!
IIRC you are done when the President says you are done.
They are a lot more transparent than you give them credit for. Every Fed bank is audited annually by an internal audit staff and an external auditor like PwC or KPMG. Every bank files reports with the Treasury and Congress. The minutes from every meeting of the Board of Governors or the FOMC is available to the public. But you're right. All that just must mean something is going on behind the scenes.
True, but Trump will have the Treasury and the bully pulpit to keep Yellen in line. Congress can assert influence, too. In practice the Fed isn’t all that independent.
Greenspan offered to step aside to let W appoint his own Chairman (didn’t happen). It’s not law but Greenspan thought the president should have the Chairman he wants.
Huh? The dollar just hit a 14 year high.
(the BRICS nations) have made extraordinary advancements in establishing a gold-backed trade policy/bank, which will eventually knock out the US dollar’s Reserve position.
Do you really think the ruble, rupee, renminbi or the real are going to supplant the dollar as the world's reserve currency?
Good grief.
Sure it is. The Fed doesn't get any funding from Congress. What influence can they exert?
Greenspan offered to step aside to let W appoint his own Chairman (didn’t happen). It’s not law but Greenspan thought the president should have the Chairman he wants.
He didn't make the same offer to Clinton. It's not customary for the Fed Chair to resign on change of president in keeping with the independence of the Fed from the Executive. And even if she did resign immediately on day one, does Trump or any of his people know Tarullo, Powell, Fisher, or Brainard well enough to know if they would be any better?
Congress can call the Chairman for testimony. They can also prevent the Chairman from getting like minded fellow governors. So can the president. If worse comes to worse they can change the law that applies to the Fed.
I’ll also repeat that the actions of the Treasury can have a big influence on what the Fed does, or can do.
Like I said, they aren’t all that independent. They are mainly there to handle operations, do what the politicians want them to do and to take any blame that politicians wish to give them.
What would that do?
Maybe you're confused about what an audit means?
Why don't you explain?
Ah, the old “Walking Tall” treatment...
The president appoints governors to the board when the Senate lets him. Right now the board is two governors short. And changing the way the Fed operates is not going to happen.
I’ll also repeat that the actions of the Treasury can have a big influence on what the Fed does, or can do.
How?
Like I said, they aren’t all that independent. They are mainly there to handle operations, do what the politicians want them to do and to take any blame that politicians wish to give them.
If the aren't all that independent then why do people keep complaining about them?
I suggest an education re: Greg Hunter, Dr. James Willie, Rob Kirby, Bill Holter, and many many more amazing people who will explain the “why” of what you describe, and the “what” of that which is yet to come. These people are not fly by nights spouting off. They are brilliant.
If the aren’t all that independent then why do people keep complaining about them?
...
Probably for the same reason they keep complaining about crooked politicians. Their policies are to benefit politicians and their donors, not the American people. The biggest lie they tell is that inflation is caused by wage increases. Inflation is actually caused by currency devaluation, and in America that comes from bad (crooked) policy.
Doesn't look very trashed to me. Maybe the rest of the world doesn't really see things in this manner.
The Brazilian economy is in the toilet while their government idles between Communist corruption and Socialist corruption, yet the real is going to supplant the dollar? Right. Meanwhile, the Chinese have to manipulate their currency to keep it "stable" while the russkies rely solely on oil output for foreign exchange. Have you ever been to India?
If your suggested educators believe such nonsense then I strongly advise looking for other sources.
I tried to respond in a good manner to your less than cordial tone but evidently you are just here to argue and be sarcastic. Feel free to argue with someone else. I’m not interested.
What is she going to do when the Federal Marshall Service comes a knockin’ with an eviction notice?
The U.S. dollar is stronger than it's been in 13 years. That's bad.
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