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?
What was '08?
How much did GDP shrink?
How are Fed earnings illicit? Who do you feel they collected on behalf of?
It is a hidden tax on the American people.
The Fed's earnings are a hidden tax? How's that?
How many times do we have keep going over this?
Only until you make sense.
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?
What evidence?
Besides, You are going to have to get the law that restrict audits of some of the Fed's activities removed?
In order to look at FX transactions? The largest market in the world?
Made what up?
Something about improper FX trades.
Is rich guy's access to the big house prohibited from?
Rich guy is dead. Your point is still unclear.
Does the Constitution authorize the Fed to "coin money" and set the value thereof?
No.
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?
Are they? Is money being coined? Value being set (however loosely)?
Yes he did, after swearing before Congress that he would never, ever, QE.
When? Where?
Hmmm, I don't think so, if you take the severity of the "Great" Depression into consideration,
No question, that was a bad one. So were the earlier ones, before the Fed, under the gold standard.
O is trying to abolish the Fed?
No. O is also ignorant of banking and finance.