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The "Independent" Fed Admits The Truth
The Market Ticker ^ | 1/22/2011 | Karl Denninger

Posted on 01/23/2011 7:21:37 AM PST by FromLori

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To: The Comedian

Running away without proving your claim again? Shocking.


101 posted on 01/24/2011 10:43:02 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot; B4Ranch; Lurker
I proved my claim by citing the law that brought the Fed into existence via member banks purchasing of shares (12 USCA 282). The Fed is a private enterprise, operating as a monopoly under color of government (the board of governors). It should be RICO'd.

You failed to answer my Fed-defines-Fed challenge, running away into irrelevancy.

Because you can't read, perhaps you can get one of your sycophantic finger puppets to narrate it for you.

I don't teach elementary logic to simpletons, and I don't narrate for fools. So I won't be proving a negative, or restating my obvious point for you no matter how many times you ask me to waste my time doing so.

And as for you, do you exhibit this sort of blind, creepy loyalty to any other governmental or monopolistic enterprise? Or do you limit your supine slobbering to your soulmates in the Fed?


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

102 posted on 01/24/2011 11:16:03 AM PST by The Comedian ("Extremism in the defense of liberty is no vice" - B. Goldwater)
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To: Toddsterpatriot

“..without the authorization of Congress.”

Just what I thought. You agree that the FED should be allowed to do what ever they want WITHOUT THE AUTHORIZTION OF CONGRESS.”

Oh, and your kindergarten teacher says its time for your nap.

And you need your bib changed. The one you are wearing is quite covered in slobber now.


103 posted on 01/24/2011 11:20:08 AM PST by TruthConquers (Delendae sunt publicae scholae)
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To: The Comedian
You truly are a Comedian.....in addition to being a foul mouthed lout who would have simply "run away" if someone hadn't called out your cowardice.

Every fact needed to prove you have no idea what you're talking about is contained in that link -- your obfuscation and feeble attempt to redirect the discussion notwithstanding.

You hurl insults because, having been outed for the empty vessel you are, you've got nothing left to offer. I came along to simply point that fact out. Tough if you don't like it. Perhaps you should grow a little skin if you're going to lecture your superiors about the intricacies of effective debating techniques.

Or not.

104 posted on 01/24/2011 11:39:33 AM PST by Mase (Save me from the people who would save me from myself!)
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To: The Comedian
I proved my claim by citing the law that brought the Fed into existence via member banks purchasing of shares (12 USCA 282). The Fed is a private enterprise, operating as a monopoly under color of government (the board of governors).

A law brought them into existence? How many private entities can make that claim? Why can't the "private owners" buy, sell or pledge their shares for loans? Why don't the "private owners" get a share of the Fed's profits?

How many other private enterprises have a .gov URL? Why don't you get one? That will show that you don't have to be a government entity to get one.

The Federal Reserve Banks' 2010 net income was derived primarily from $76.2 billion in income on securities acquired through open market operations (federal agency and government-sponsored enterprise (GSE) mortgage-backed securities, U.S. Treasury securities, and GSE debt securities); $7.1 billion in net income from consolidated limited liability companies (LLCs), which were created in response to the financial crisis; $2.1 billion in interest income from credit extended to American International Group, Inc.; $1.3 billion of dividends on preferred interests in AIA Aurora LLC and ALICO Holdings LLC; and $0.8 billion in interest income on loans extended under the Term Asset-Backed Securities Loan Facility (TALF) and loans to depository institutions. Additional earnings were derived primarily from revenue of $0.6 billion from the provision of priced services to depository institutions. The Reserve Banks had interest expense of $2.7 billion on depository institutions' reserve balances and term deposits.

Operating expenses of the Reserve Banks, net of amounts reimbursed by the U.S. Treasury and other entities for services the Reserve Banks provided as fiscal agents, totaled $4.3 billion in 2010. The Reserve Banks' operating expenses included assessments of $1.0 billion for Board expenditures and the cost of new currency. In 2010, statutory dividends totaled $1.6 billion and approximately $0.6 billion of net income was used to equate surplus to paid-in capital.

Hmmmmm...the "private owners" received $1.6 billion but the Treasury received $78.4 billion.

105 posted on 01/24/2011 11:42:05 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: TruthConquers
Just what I thought.

When did you think?

106 posted on 01/24/2011 11:42:43 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

“You agree that the FED should be allowed to do what ever they want WITHOUT THE AUTHORIZTION OF CONGRESS.”


107 posted on 01/24/2011 12:11:43 PM PST by TruthConquers (Delendae sunt publicae scholae)
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To: TruthConquers

Where did you imagine I said that?


108 posted on 01/24/2011 12:13:11 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

“You agree that the FED should be allowed to do what ever they want WITHOUT THE AUTHORIZTION OF CONGRESS.”


109 posted on 01/24/2011 12:16:06 PM PST by TruthConquers (Delendae sunt publicae scholae)
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To: Mase
My, you really get upset when someone outs your boyfriend todders. Sad news for you though: Your little tantrums won't make him love you any more.

You're just another disposable sidekick with a thin coat of conservative paint and delusions of enlightenment and competence that nobody listens to, or ever will. You aren't even worthy of being personally insulted. But I'll do it just this once. Revel in the attention you never got as a child.

Daddy failed.

Now get back to fellating each other in the Fed-supporting zombie squad, lab rat.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

110 posted on 01/24/2011 12:48:07 PM PST by The Comedian ("Extremism in the defense of liberty is no vice" - B. Goldwater)
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To: Mase

Even his personal attacks are tired. You’d think he’d be good at one or the other (debating or insults).


111 posted on 01/24/2011 4:43:13 PM PST by 1rudeboy
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To: 1rudeboy
You’d think he’d be good at one or the other (debating or insults).

You'd think. Maybe that's why he's such an angry guy. It sucks when you suck. It must also be frustrating trying to convince anyone who cares that you're an academician, with a high IQ, when you spend most of your time here getting your butt kicked while looking up at the curb.

112 posted on 01/24/2011 6:48:31 PM PST by Mase (Save me from the people who would save me from myself!)
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To: Mase
During my first run-in with this clown, I learned that he is "used to having no competition on the debate field." As if his debate coach had him practising against deafmutes.
113 posted on 01/25/2011 5:57:53 AM PST by 1rudeboy
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To: The Comedian

In the early ‘90’s I had a professor who used to work for the San Francisco Fed (don’t know in what capacity and I don’t know what years he worked there).

I distinctly remember he told the class that the Fed had long since lost it’s ‘independence’.

The reality is that the Fed takes it’s direction from the Treasury, who in turn gets their marching orders from the President.

Those are his words and almost an exact quote.


114 posted on 01/25/2011 8:37:29 AM PST by MichaelCorleone (Sarah Palin is America's Margaret Thatcher)
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To: Toddsterpatriot
FR down yesterday whenever I logged on.

What if they never do? If they hold their bonds long enough, they all mature at face value.
That's the flip side of the "no-profits" coin. What's the quality of the bonds? The govt has bought so much crap, the actual value might be nowhere near the face value, let alone what this escalating inflation will do to the value after being held "long enough".
My problem is that these guys are playing "Whack-A-Mole" with the liability and some in the financial community breathe a sigh of relief when it pops up in someone else's hole, not that the liability is paid off.

115 posted on 01/26/2011 7:35:17 AM PST by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: Oatka
What's the quality of the bonds?

US Treasuries and MBS guaranteed by the government.

The govt has bought so much crap,

That's the meme, it's also incorrect.

116 posted on 01/26/2011 7:41:29 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
The govt has bought so much crap,
That's the meme, it's also incorrect.

I hope that's the case. Maybe I'm just painting them with a Fannie Mae brush. Do you have a source? Not being confrontational, just interested.

117 posted on 01/26/2011 8:23:52 AM PST by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: Oatka

http://www.federalreserve.gov/releases/h41/Current/


118 posted on 01/26/2011 8:34:53 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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