Free Republic

The structure of the central banking system in the United States is unique compared to others' in the world, in that an entity outside of the central bank creates the currency. This other entity is the United States Department of the Treasury.

Does this passage make you believe that "the Gov takes more and more of my money and gives it to the Fed to disperse"?

Pretty cocky as usual...

Yeah, maybe if you had a better source than Wikipedia, you could learn enough to be cocky too?

This, from Wikipedia:

The structure of the central banking system in the United States is unique compared to others' in the world, in that an entity outside of the central bank creates the currency. This other entity is the United States Department of the Treasury.

Pretty cocky as usual...Appears as tho you are the one who is running his mouth...

So where does the Fed get it's money that it loans to the U.S.???

You don't know where the Fed gets their money? Maybe you should learn before you spout off on these threads?

The government takes your money and gives it to the Federal Reserve? On what planet?

So where does the Fed get it's money that it loans to the U.S.???

Why would an audit by Congress of a sound but unpopular decision made by the Fed be looked upon as anything but helpful?

Getting Congress involved would be "helpful"? You can seriously say that with a straight face?

Why would an audit by Congress of a sound but unpopular decision made by the Fed be looked upon as anything but helpful?

When the Fed raises rates to fight inflation and Barney Frank thinks lower rates would be better to promote low income home ownership, that could result in undue political pressure.

When the Gov takes more and more of my money and gives it to the Fed to disperse, I'd like to know where my money is going...

The government takes your money and gives it to the Federal Reserve? On what planet?

“The G.A.O. would be empowered to come in, essentially immediately after a policy decision, to look at all the policy materials prepared by staff, to interview members and to basically second-guess the Fed’s decision in very short order,” he said. “My fear is that if we take what could be an unpopular step, Congress will order an audit, which would be a way of applying pressure, or perceived as a way of applying pressure, to our policy decisions.”...Ben Bernanke

Why would an audit by Congress of a sound but unpopular decision made by the Fed be looked upon as anything but helpful?

Only when the decision made can't be supported by the facts would an audit by Congress be looked upon as undue political pressure.

ex animo

davidfarrar

How anyone can stand capitalist hating class warriors passing themselves off as "conservatives" is beyond me.

I don't think that's the issue...When the Gov takes more and more of my money and gives it to the Fed to disperse, I'd like to know where my money is going...

The International Monetary Fund (the World Bank), the Fed and the Treasury are connected like fingers to a hand...But yet they are disconnected from the average American citizen....

When they give my money to Palestinian terrorists or Hugo Chavez, I demand that they explain to me why it's in my best interest to do so...And if I don't understand, they need to keep explaining til I do...Or get out...

And when they give my money to the failures at the financial institutions, they again need to explain to me why that is in my best interest...And if they can't to my satisfaction, out they go...

Because the little people need not know what these unelected thugs are doing to the dollar they work so hard to earn, right?

http://www.businessinsider.com/video-jim-bunning-rips-bernanke-a-new-one-2009-12

How anyone can stand capitalist hating class warriors passing themselves off as "conservatives" is beyond me.

How anyone supporting a centrally controlled monetary system can call themselves a capitalist is beyond me.

How anyone can stand capitalist hating class warriors passing themselves off as "conservatives" is beyond me.

You are a wrong (probably knowingly so, but I'll be charitable about it).

One, no they are not acting to accomodate the treasury. No net increase in treasury position in the crisis - just a shift to direct loans to the banks, and back. See -

Fed holdings of US treasuries

Two, all the actual broad money expansion was over by October of 2008 - before the election - and the Fed has not been "printing" since, to accomodate the treasury or for any other reason.

Three, all its crisis actions were in fact directed at aiding the private banking system, which is what needed the support. It wasn't the treasury that couldn't sell its debt last year.

But you have an ideological script and facts form no part of it. You expect things because your ideological instructors told you to, and a slanderous media repeats them endlessly because it likes anything that attacks American capitalism.

That too

“To be very, very clear, I in no way object to — in fact I welcome — transparency about the Fed’s activities and the Fed’s financial position, both to the public and to the Congress,”

How anybody can take this lying sack of sh*t seriously is beyond me.

In the real world, he will be confirmed after the knuckledraggers have had their fifteen minutes of posing - and monetary policy will continue to be conducted by professional economists, not turned into a populist 3 ring circus.

Let's end populist know-nothing finance-hating class-war crap instead...

Ben S. Bernanke used a hearing for his reconfirmation as Federal Reserve chairman on Thursday to express concern about legislation that would put the Fed on a tighter leash and let Congress “second-guess” its decisions.

Welcome to the real world, Ben. Wait until they start second guessing your doctor.

A lot of nerve banana ben has he has failed the mandate miserably to say the least I am glad he took a good beat down today now if they would just fire him and End the Fed but they won’t he is doing obamageddon’s bidding print, print, print so he can pay back all his cronies a tit for a tat since bernanke paid off all his bankster buddies.

http://www.businessinsider.com/video-jim-bunning-rips-bernanke-a-new-one-2009-12

Audit my butt, end the Fed now

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