No, a Panic is more than just a recession.
Bagman: 2: a person who on behalf of another collects or distributes illicitly gained money;
How are Fed earnings illicit? Who do you feel they collected on behalf of?
Still waiting for you to explain the inside track as it relates to FX trades.
That's the alphabet agencies' job and Congress. Mine as a Citizen is to ask questions and speak out.
So you just made it up.
If the name was changed to "Federal Trust" better help you understand, or how 'bout just "Trust"?
A big house given away by a rich guy was supposed to make me understand what, exactly?
Duh! Or are you just pointing at another squirrel?
You're not alone in your feeling, but why is the Fed unconstitutional?
The Fed can't stop the business cycle and shouldn't try. They have helped reduce the number and severity of downturns.
Oooooh, Okaaaay, Like 1932?
No, they screwed up in the 30s. Which is why Bernanke said we could keep printing money, to fight a deflationary depression. And that's what he did.
The Fed hasn't reduce the number or severity (once averaged) of downturns.
Sure they have. Look at the time between recessions before 1913 and since. Look at the size of the contractions, before 1913 versus after 1913.
Have you ever heard of a man by the name of Thomas Jefferson?
I have. He was a Founder who lost the argument about a national bank.
He is quoted as saying: The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution.
There have been more than a few Presidents who didn't understand finance and banking. Obama is one, Jefferson is another.
What was '08?
How are Fed earnings illicit? Who do you feel they collected on behalf of?
It is a hidden tax on the American people. How many times do we have keep going over this?
Still waiting for you to explain the inside track as it relates to FX trades. Like I keep sayin'... What makes you think this is MY job to gather all of the evidence and present it to a Grand Jury?
Besides, You are going to have to get the law that restrict audits of some of the Fed's activities removed? Wouldn't that be the first step? You saying there's no chance of improprieties occurring during 100 years of the Fed existence?
So you just made it up.
Made what up?
A big house given away by a rich guy was supposed to make me understand what, exactly?
Is rich guy's access to the big house prohibited from?
You're not alone in your feeling, but why is the Fed unconstitutional?
Does the Constitution authorize the Fed to "coin money" and set the value thereof? Seems to me I recall that duty is assigned by the Constitution to another group of individuals, duly elected and supposedly representing the people. Are they shirking a responsibility they've sworn to uphold?
The Fed can't stop the business cycle and shouldn't try.
Yeah, we've been through that several times already. It was one of the main excuses used to force the Fed down America's throat, and now used as the reason we must keep it by some. It's kind of like lies we were told of why we must have Obama care. Seems like American people have been lied to a lot - or is that it just me?
Which is why Bernanke said we could keep printing money, to fight a deflationary depression. And that's what he did.
Yes he did, after swearing before Congress that he would never, ever, QE.
Sure they have. Look at the time between recessions before 1913 and since. Look at the size of the contractions, before 1913 versus after 1913.
Hmmm, I don't think so, if you take the severity of the "Great" Depression into consideration, the requirement to depreciate the dollar through confiscation of gold and then the subsequent increase of its value to $35. Then you have to include what's about to happen to us in the very near future - CRASH!
I have. He was a Founder who lost the argument about a national bank.
"Sometimes you eat the shark, sometimes the shark eats you."
There have been more than a few Presidents who didn't understand finance and banking. Obama is one, Jefferson is another. O is trying to abolish the Fed?