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7 Trillion Dollars = $7,000,000,000,000 times 1% = $70,000,000,000 = 70 Billion Dollars.
7 Trillion Dollars = $7,000,000,000,000 times 0% = $0.00 = Nothing = Zip = Nada = Nothing!
Now, Dufus, what happens if we have the FED buy that 7 Trilllion that we are paying interest on? That is right, we are paying ZERO Interest on 14 Trillion Dollars.
If you are paying ZERO interest how long before you can not afford to make the interest payments when you owe nothing?
Now, if the President orders the FED to destroy all of those bonds, how much money do we owe to the FED? If we owe nothing, do we have to pay it back? The FED got the money out of nowhere and to nowhere the debt can be cast.
Loose Cannon does not realize that none of that money comes from Bonds and Notes. That interest money minus some expenses is deposited directly into the treasury. Don't take his word for it. Go ask the FED.Neub doesn't realize that the Fed is a private banking cooperative with 1700 member banks, each of whom, by law, receive a 6% annual dividend on their stockholdings in the Federal Reserve.
A fully for profit corporation.
Loose Cannon does not realize that none of that money comes from Bonds and Notes. That interest money minus some expenses is deposited directly into the treasury. Don't take his word for it. Go ask the FED.Neub doesn't realize that the Fed is a private banking cooperative with 1700 member banks, each of whom, by law, receive a 6% annual dividend on their stockholdings in the Federal Reserve.
A fully for profit corporation.
I have seen so much misinformation put out by the nincompoops on this board. All they want to do is lie to you and misinform you to try to keep you stupid. Why, I do not know.
It is as if somebody is paying them to keep up this misinformation campaign. Never before have I seen such gross stupidity. Yet, it goes on and on and on and on always advanced by the same clowns.
7 Trillion Dollars = $7,000,000,000,000 times 1% = $70,000,000,000 = 70 Billion Dollars.
7 Trillion Dollars = $7,000,000,000,000 times 0% = $0.00 = Nothing = Zip = Nada = Nothing!
Now, Dufus, what happens if we have the FED buy that 7 Trilllion that we are paying interest on? That is right, we are paying ZERO Interest on 14 Trillion Dollars.
If you are paying ZERO interest how long before you can not afford to make the interest payments when you owe nothing?
Now, if the President orders the FED to destroy all of those bonds, how much money do we owe to the FED? If we owe nothing, do we have to pay it back? The FED got the money out of nowhere and to nowhere the debt can be cast.
Do you not understand Treasury rates? When the Federal Reserve buys treasuries, the government owes them the effective rate of the particular type of treasury bought. I don't know where you're getting this 0% crap from. They're not lending money to the government for free.
And I also don't know where you get this bat shit crazy idea that they would ever cancel any debt.
Get this through your fat fucking head:
When the Federal Reserve buys treasuries from the government, the government owes the Fed the effective rate along the yield curve like it would ANYONE ELSE it lent money to.
The only one who seems like they're paid to misrepresent info around here is YOU.
Neubarth, the Fed acts on behalf of its stock holders. The member banks receive dividends from the Fed. There is a profit motive.
They are not going to cancel any debt and screw the stock holders. You are literally insane if you think they ever would.
Just because some "charter" says something that you think is gospel, doesn't mean it is. The government lies, breaks promises, screws taxpayers, etc, ALL THE FUCKING TIME...but somehow you think the Fed is 100% truthful and compliant with everything they claim they do.
The mere fact that you even MENTION such a thing is why you're a fucking whack job.
I seem to see the "intragovernmental holdings" portion of the National debt, where the debt to the Fed resides, continuing to rise.
It's awfully funny how in these most trying times, they aren't cancelling any fucking debt.
What are they waiting for, you fat fuck?
Yes, after dividends are paid to member bank shareholders.Neubarth, the Fed acts on behalf of its stock holders. The member banks receive dividends from the Fed. There is a profit motive.
They are not going to cancel any debt and screw the stock holders. You are literally insane if you think they ever would.
Just because some "charter" says something that you think is gospel, doesn't mean it is. The government lies, breaks promises, screws taxpayers, etc, ALL THE FUCKING TIME...but somehow you think the Fed is 100% truthful and compliant with everything they claim they do.
The mere fact that you even MENTION such a thing is why you're a fucking whack job.
I seem to see the "intragovernmental holdings" portion of the National debt, where the debt to the Fed resides, continuing to rise.
It's awfully funny how in these most trying times, they aren't cancelling any fucking debt.
What are they waiting for, you fat fuck?
I thought all FED profits were going back to the treasury, except for the upkeep costs.
Yes, after dividends are paid to member bank shareholders.
Loose Cannon does not realize that none of that money comes from Bonds and Notes. That interest money minus some expenses is deposited directly into the treasury. Don't take his word for it. Go ask the FED.Neub doesn't realize that the Fed is a private banking cooperative with 1700 member banks, each of whom, by law, receive a 6% annual dividend on their stockholdings in the Federal Reserve.
A fully for profit corporation.
I have seen so much misinformation put out by the nincompoops on this board. All they want to do is lie to you and misinform you to try to keep you stupid. Why, I do not know.
It is as if somebody is paying them to keep up this misinformation campaign. Never before have I seen such gross stupidity. Yet, it goes on and on and on and on always advanced by the same clowns.
Loose Cannon does not realize that none of that money comes from Bonds and Notes. That interest money minus some expenses is deposited directly into the treasury. Don't take his word for it. Go ask the FED.Neub doesn't realize that the Fed is a private banking cooperative with 1700 member banks, each of whom, by law, receive a 6% annual dividend on their stockholdings in the Federal Reserve.
A fully for profit corporation.
I have seen so much misinformation put out by the nincompoops on this board. All they want to do is lie to you and misinform you to try to keep you stupid. Why, I do not know.
It is as if somebody is paying them to keep up this misinformation campaign. Never before have I seen such gross stupidity. Yet, it goes on and on and on and on always advanced by the same clowns.
First of all you didn't even respond to what I posted, you just burst off onto a wild tangent.
But if you think that the Fed isn't charging us interest on the debt and doesn't require repayment of our debt then by all means please link to some authoritative source that can verify your fantasy.
Thanks.
BTW, why the hell would the Fed "PRETEND" to be charging us interest on "make believe" money?
Are they all living in the rabbit hole?
Federal Reserve Act
Section 7. Division of Earnings
Dividends and Surplus Fund of Reserve Banks
(a)
1.
1. After all necessary expenses of a Federal reserve bank have been paid or provided for, the stockholders of the bank shall be entitled to receive an annual dividend of 6 percent on paid-in capital stock.
2. The entitlement to dividends under subparagraph (A) shall be cumulative.
2. That portion of net earnings of each Federal reserve bank which remains after dividend claims under subparagraph (1)(A) have been fully met shall be deposited in the surplus fund of the bank.
(b) Transfer for fiscal year 2000.
1. The Federal reserve banks shall transfer from the surplus funds of such banks to the Board of Governors of the Federal Reserve System for transfer to the Secretary of the Treasury for deposit in the general fund of the Treasury, a total amount of $3,752,000,000 in fiscal year 2000.
2. Of the total amount required to be paid by the Federal reserve banks under paragraph (1) for fiscal year 2000, the Board shall determine the amount each such bank shall pay in such fiscal year.
3. During fiscal year 2000, no Federal reserve bank may replenish such bank's surplus fund by the amount of any transfer by such bank under paragraph (1).
[12 USC 289. As amended by acts of March 3, 1919 (40 Stat. 1314); June 16, 1933 (48 Stat. 163); Aug. 10, 1993 (107 Stat. 337); Sept. 23, 1994 (108 Stat. 2291); and Nov. 29, 1999 (113 Stat. 1501A-304), which added this subsection (b) but failed to redesignate existing subsection (b) (12 USC 290).]
According to the Board of Governors, the Federal Reserve is independent within government because "its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government." However, its authority is derived from the U.S. Congress and is subject to congressional oversight. Additionally, the members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by Congress. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[11] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. The Federal Reserve transferred a record amount of $45 billion to the U.S. Treasury in 2009.
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. But the banks don't necessarily run the show. Nationally, the Federal Reserve System is led by a Board of Governors whose seven members are appointed by the president and confirmed by the Senate.
The stockholders in the 12 regional Federal Reserve Banks are the privately owned banks that fall under the Federal Reserve System. These include all national banks (chartered by the federal government) and those state-chartered banks that wish to join and meet certain requirements. About 38 percent of the nation's more than 8,000 banks are members of the system, and thus own the Fed banks.
The concept of "ownership" needs some explaining here, however. The member banks must by law invest 3 percent of their capital as stock in the Reserve Banks, and they cannot sell or trade their stock or even use that stock as collateral to borrow money. They do receive dividends of 6 percent per year from the Reserve Banks and get to elect each Reserve Bank's board of directors.
The private banks also have a voice in regulating the nation's money supply and setting targets for short-term interest rates, but it's a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed's Board of Governors who, as mentioned, are appointed by the president.
The Fed is a little defensive about the question of ownership. In its Frequently Asked Questions section, the Federal Reserve Board says: "The Federal Reserve System is not 'owned' by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects." It continues:
Federal Reserve Board: As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."
The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like 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.
The Fed is the fourth failed attempt at a central bank in the US if you count the comptroller of the Currrency's powers during the Civil War. The Fed will be gone by 2030.
No they led to ruinous land, transport and communications bubbles, sound familiar? While British capital got burned by those stunts the banking and land law insanity was American made via central banking. This time the Fed is going to get spanked by the courts as I already mentioned in the foreclosures thread and it is quite likely that some to many of the actions of the Fed prior to and during TARP will be declared either unconstitutional or criminal with maybe both as a long shot.The Fed is the fourth failed attempt at a central bank in the US if you count the comptroller of the Currrency's powers during the Civil War. The Fed will be gone by 2030.
Somebody famous predicted as much within the last few days... Federal Reserve 'Will Be Gone' In 25 Years, Top Financial Mind Predicts, Despite Geithner's Vote Of Confidence
I would read this guy a lot more often if I could remember his damned name. He has three names and none are recognizable as names.
BTW were the first three federal banks really failures or did the British corporations just say that?
Well since the information came from a wide variety of books I would advise checking out the works of Niall Ferguson as a first step, with P. L. Bernstein and James Grant as follow up. But here is a quick summary from high school history.I'd ask for a link but only if you feel up to it.
I kinda consider the true national bank as the only best option.
