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 ...
I couldn’t even finish that silly, error filled book of Griffin. What a joke. He has found his target audience though. LOL!
What did the bankers in Iceland do that was against the law? Any links?
No, I don't think a series of overnight loans, fully collateralized, would have stimulated our economy.
What would you have done with a $50,000 over night loan? Would a 1 month loan have stimulated your spending?
Begs the question: Where did all of those dollars go,
To the banks, and once the liquidity crisis passed, quickly repaid to the Fed.
Really? Do point out an error...
What are you talking about? I don't think the Treasury should default on their debt, even if it was incurred by idiotic overspending by idiot Bush or idiot Obama.
How 'bout a list of who we owe the funds to?
I could find you a list of debt owed to foreign nations. The Fed holds about $2.2 trillion. The rest is owned by people, mutual funds, institutions, pensions, you name it.
just a list of every one of the Fed member bank owners, and how much...
The US government owns the Fed.
You think we see the Fed's books concerning their loans to certain foreign and private banks and repayments? Why did they try to keep it a secret, and then only revel the 16T loan data after Bloomberg took them to court?
What else are they keeping a secret? Maybe they have Obama's documents in their vault?
Iceland Dismantles Corrupt Gov’t Then Arrests All Rothschild Bankers
Iceland Has Hired An Ex-Cop To Hunt Down The Bankers That Wrecked Its Economy
Icelandic banker arrests continue
Need more links? Can't wait 'till the people in this country have had enough and do the same!
One of the bigger lies you've tried to get away with telling.
"Q: Who owns the Federal Reserve Bank? A: There are actually 12 different Federal Reserve Banks around the country, and they are owned by big private banks."
I know you love links: http://www.factcheck.org
As the saying goes, the Fed is no more Federal than Federal Express...
You saw the money loaned, on their spreadsheet, and repaid, on their spreadsheet.
Why did they try to keep it a secret, and then only revel the 16T loan data after Bloomberg took them to court?
Historically, they never revealed borrowers.
The Fed forgives loans all of the time, both domestic and foreign - not sure what "error" you see on Page 27.
The Fed creates money out of "thin air". Where's the cost in doing that???
Watch this video for a great reference of how the Fed "creates" money:
Thanks for the links. Did they actually tell what crimes were committed?
The Federal Banking Agency Audit Act, enacted in 1978 as Public Law 95-320 and 31 U.S.C. section 714 establish that the Board of Governors of the Federal Reserve System and the Federal Reserve banks may be audited by the Government Accountability Office (GAO).[40] The GAO has authority to audit check-processing, currency storage and shipments, and some regulatory and bank examination functions, however there are restrictions to what the GAO may audit. 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]
That's funny. What percentage of total profits do the "owners" get?
As the saying goes, the Fed is no more Federal than Federal Express...
Federal Express wasn't created by the government, doesn't give 95% of profits to the government. It's a stupid saying.
I guess you'll just have to read to find out. I wouldn't what to be a spoil it for you. ;)
I hear shares of the "loot" are determined by the assests held/owned by each member bank, which I do find a strange way of dividing up "loot". More questions: How are value of assets determined, audited, and etc.?
When has the Fed ever done that?
not sure what "error" you see on Page 27.
LOL! You think "there is little of tangible value that is actually lost", when someone defaults on a loan to a bank? Seriously?
The Fed creates money out of "thin air". Where's the cost in doing that???
Griffin is talking about private banks, not the Fed.
Watch this video
I know how the Fed, and other banks, create money. Griffin is the guy who needs to learn.
It was "created" by the government (finish reading Griffin's book). It just isn't "owned" by the government, as you keep insisting.
Then why did the member banks get less than 2% of the Fed's earnings last year?
The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.
That's a pretty darn good return on investment if you're one of the lucky ones. Especially given the huge sums we're talking about an since it was all printed out of "thin air" in the first place!
Then you have the private owners of each of the Federal Reserve "member banks" dividing up their share of the "loot" as well. Not to mention possible access to some of that "free money" which revelation of is protected by law. I see lots of ways of "plucking" this golden goose...
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