Posted on 12/24/2013 1:45:23 PM PST by Errant
The Democratic Party gained prominence in the first half of the nineteenth century as being the party that opposed the Second Bank of the United States. In the process, it tapped into an anti-state sentiment that proved so strong that we wouldn't see another like it until the next century.
Its adversaries were Whig politicians who defended the bank and its ability to grow the government and their own personal fortunes at the same time. They were, in fact, quite open about these arrangements. It was considered standard-operating procedure for Whig representatives to receive monetary compensation for their support of the Bank when leaving Congress. The Whig Daniel Webster even expected annual payments while in Congress. Once he complained to the Bank of the United States President Nicholas Biddle, “I believe my retainer has not been renewed or refreshed as usual. If it be wished that my relation to the Bank should be continued, it may be well to send me my usual retainer.”
(Excerpt) Read more at marketoracle.co.uk ...
Your crackpot ideas have been out of fashion for 40 years
Agree, the rest of the 17T being from various other sources.
And the claim that the Treasury can only pay off debt with money from the Fed was incorrect.
But the Fed buying debt is a "recent" development (i.e. QE).
No. The Fed has always bought debt. The recent MBS purchases were new though.
The remainder though (approximately 13T) was purchased using US dollars?
Remainder? No. The total, every bit, was bought with dollars.
Your link doesn't mention anything that prohibits the Fed.
No income taxes + tariffs = prosperity
True, thanks for pointing that out. Just guessing the Fed isn't going to reveal these transactions based on the court fight to release.
Audits of the Reserve Board and Federal Reserve banks may not include:
1.transactions for or with a foreign central bank or government, or nonprivate international financing organization;
2.deliberations, decisions, or actions on monetary policy matters;
3.transactions made under the direction of the Federal Open Market Committee; or
4.a part of a discussion or communication among or between members of the Board of Governors and officers and employees of the Federal Reserve System related to items (1), (2), or (3).[41][42]
The above gives the Fed tremendous power, control, and etc.
Yes, but it's important to differentiate the Fed's debt purchases from other governments and private purchasers of debt. For entities, other than the Fed, having to use US dollars to buy US debt would seem to somewhat limit the amount of debt the government may issue (theoretically). In other words, the government could only sell an amount of new debt which is less than the amount of available dollars in circulation.
With the Fed buying debt however, the above doesn't hold true because the Fed can "QE" to infinity - print all the dollars necessary. So that could really create a stink with the other debt holders in the game, as their access to dollars is limited.
No. The Fed has always bought debt. The recent MBS purchases were new though.
The Fed is buying about 85B a month, spit about 50/50 correct between MBS and the other - correct? What amounts have they bought in the past before QE, Tarp, or etc.?
And the claim that the Treasury can only pay off debt with money from the Fed was incorrect.
Please explain this one (immediately above). That wasn't a part of our discussion, but interesting if true. What does the treasury use to pay off debt if not dollars - I'm not talking about a rollover or exchanging one type of bond for another. Gold?
Equals businesses that can't compete. Competition is good. If you want your kid to be good at sports you don't hide him at your home, you let him play with the other kids.
Fixed it.
That would be all of them connected to the Fed since 1913! The biggest fraud in history.
That was the creation of the Fed. You're right, let's not do that again.
If you want your kid to be the best he has to play everyone.
They got their league we have ours. Go over there and play with them if you want.
And ours has been Free Trade Agreements since the 90s. How is it you're not playing with others?
Go over there and play with them if you want.
I am, and you are too. lol
I’d like to enact trade tariffs and eliminate the income tax, how about you?
We agree, the Fed is not prohibited from releasing this information.
M2 is currently a bit less than $11 trillion. That doesn't seem to have stopped the government from issuing $17 trillion in debt. Not to mention trillions more in state and local debt, corporate and personal debt.
The Fed is buying about 85B a month, spit about 50/50 correct between MBS and the other - correct?
I think it was $45 billion US Treasuries, $40 billion MBS.
What amounts have they bought in the past before QE, Tarp, or etc.?
Their entire balance sheet, pre-crisis, was about $800 billion.
And the claim that the Treasury can only pay off debt with money from the Fed was incorrect.
Please explain this one (immediately above). That wasn't a part of our discussion
Pretty sure you claimed the Treasury could never pay off any debt, without more money issued by the Fed. If I misunderstood your claim, I apologize.
What does the treasury use to pay off debt if not dollars
The Treasury could pay off debt by raising revenues and cutting spending with no help or input from the Fed. In dollars, of course.
What fraud do you feel bankers and the Fed have committed that deserves jail time? Be as specific as you can.
You’re right, the gold standard was never a guarantee of any sort of price stability. Obviously.
Awesome idea! How high would the tariffs need to be and how much revenue would that raise for the government?
Too high for progressive income tax lovers like you.
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