heres the deal

[Bootney Lee Farnsworth]

They're audited. Every year.

By whom?

 

[Toddsterpatriot]

They're audited. Every year.

By whom?

Used to be Deloitte, now it's KPMG.

 

[Natural Citizen]

They're audited. Every year.

Really. Then, please share with us the annual audit report for all of the international financial clearing transaction data. For starters. We'll wait. Thanks! We want the high speed trading data, too. I don't know how we're gonna review the audit data for the black budget. Then again, isn't it all. lol.

I'll check back later. I'm hungry.

 

[AsianTrumpSupporter]

 

[Toddsterpatriot]

They're audited. Every year.

Really. Then, please share with us the annual audit report for all of the international financial clearing transaction data. For starters. We'll wait. Thanks! We want the high speed trading data, too. I dont't know how we're gonna review the audit data for the black budget. Then again, isn't it all. lol.

I'll check back later. I'm hungry.

https://www.federalreserve.gov/aboutthefed/files/combinedfinstmt2016_508.pdf

Knock yourself out, Chuckles.

 

[Natural Citizen]

https://www.federalreserve.gov/aboutthefed/files/combinedfinstmt2016_508.pdf

Knock yourself out, Chuckles.

I already read that. It wasn't there. Neither was the other stuff.

 

[Toddsterpatriot]

https://www.federalreserve.gov/aboutthefed/files/combinedfinstmt2016_508.pdf

Knock yourself out, Chuckles.

I already read that. It wasn't there. Neither was the other stuff.

Why do you feel "high speed trading data" would belong in an audit?

 

[Natural Citizen]

Why do you feel "high speed trading data" would belong in an audit?

Good morning, Toddster. How you doin? I assume that's an honest question instead of a continuation of your other mr. smarty pants commentary, so what I was kind of hinting at there in my question to you are modern securities markets and commodities markets that rely on high frequency trading and electronic trading networks. Here's why. If we're going to have a real financial and economic audit of the fed, we have to rekon those markets that rely on electronic trading and high frequency trading networks withthe international financial clearing together. The absence of these two factors in an audit renders the audit useless.

That said, I would ask you in return if you know why I said that those two factors are necessary for any true financial and economic audit of the fed. Surely you understand fundamental macroeconomics.

Anyway. I probably should have created a thread. Though, it really is relevant here with all of the statists popping off under the illusion of being conservative.

 

[Toddsterpatriot]

Why do you feel "high speed trading data" would belong in an audit?

Good morning, Toddster. How you doin? I assume that's an honest question instead of a continuation of your other mr. smarty pants commentary, so what I was kind of hinting at there in my question to you are modern securities markets and commodities markets that rely on high frequency trading and electronic trading networks. Here's why. If we're going to have a real financial and economic audit of the fed, we have to rekon those markets that rely on electronic trading and high frequency trading networks withthe international financial clearing together. The absence of these two factors in an audit renders the audit useless.

That said, I would ask you in return if you know why I said that those two factors are necessary for any true financial and economic audit of the fed. Surely you understand fundamental macroeconomics.

Anyway. I probably should have created a thread. Though, it really is relevant here with all of the statists popping off under the illusion of being conservative.

what I was kind of hinting at there in my question to you are modern securities markets and commodities markets that rely on high frequency trading and electronic trading networks.

Yes, high frequency trading is huge.
Unfortunately, an audit of Merrill or Goldman or any trading firm has never included
a list of every trade of every security for the entire fiscal year.
Why should an audit of the Fed include anything about high speed trading data?

And what makes you think the Fed does any high speed trading of equities or commodities ?
Unless you think they do high speed trading of Treasuries or MBS?

I would ask you in return if you know why I said that those two factors are necessary for any true financial and economic audit of the fed.

Do you have any examples of a "true financial and economic audit" of any firm which includes the level of detail you're looking for from the Fed?

 

[Natural Citizen]

what I was kind of hinting at there in my question to you are modern securities markets and commodities markets that rely on high frequency trading and electronic trading networks.

Yes, high frequency trading is huge.
Unfortunately, an audit of Merrill or Goldman or any trading firm has never included
a list of every trade of every security for the entire fiscal year.
Why should an audit of the Fed include anything about high speed trading data?

And what makes you think the Fed does any high speed trading of equities or commodities ?
Unless you think they do high speed trading of Treasuries or MBS?

I would ask you in return if you know why I said that those two factors are necessary for any true financial and economic audit of the fed.

Do you have any examples of a "true financial and economic audit" of any firm which includes the level of detail you're looking for from the Fed?

Forget all of that, Toddster. I'm pretty much done with the thread. Save that stuff for its own thread if you want. It's too deep for this one. This was just a troll thread anyway.

In the mean time, head on over to the GOP tax thread. There's a guy with an economics degree in there. Haha. That'll be a hoot.

 

[Toddsterpatriot]

what I was kind of hinting at there in my question to you are modern securities markets and commodities markets that rely on high frequency trading and electronic trading networks.

Yes, high frequency trading is huge.
Unfortunately, an audit of Merrill or Goldman or any trading firm has never included
a list of every trade of every security for the entire fiscal year.
Why should an audit of the Fed include anything about high speed trading data?

And what makes you think the Fed does any high speed trading of equities or commodities ?
Unless you think they do high speed trading of Treasuries or MBS?

I would ask you in return if you know why I said that those two factors are necessary for any true financial and economic audit of the fed.

Do you have any examples of a "true financial and economic audit" of any firm which includes the level of detail you're looking for from the Fed?

Forget all of that, Toddster. I'm pretty much done with the thread. Save that stuff for its own thread if you want. It's too deep for this one. This was just a troll thread anyway.

In the mean time, head on over to the GOP tax thread. There's a guy with an economics degree in there. Haha. That'll be a hoot.

Forget all of that, Toddster. I'm pretty much done with the thread.

Yeah, getting pushback on your conspiracy stuff must be tiring.

In the mean time, head on over to the GOP tax thread.

Thanks for the tip.

 

[Natural Citizen]

Yeah, getting pushback on your conspiracy stuff must be tiring.

Ha. Please. I nailed it. And you know it. You're caricaturing the facts to make it easier to just attack. And predictably so. That's what statists do. lolol.

Here's the cliff notes. Though, I'll correct the 6% dividend for the stock holders to 2% since it dropped since last November. Also, predictable given the state of our debt and the debasingof our dollar. again, down 98%.


The politicians aren't running on the idea of ''vote for me because I'll make sure that the government provides you with more free stuff than my opponent say's he will.'

Step1: The government creates glorified IOUs via Treasury Bonds. to cover the deficit spending. These bonds increase our national debt and put the public on the hook to pay it back.

Step2: IOUs are swapped to create 'currency.' The Treasury sells the bonds to the banks. The banks then turn around and sell our national debt at a profit to the Federal Reserve, which they likely own. Again, the share holders receive annually a 6% dividend. From the Fed's own webpage. The Federal Reserve then opens its checkbook which is from an account without a penny in it and buys those IOU with their own IOW in the form of the check from an account with 0 balance.They give those checks to the banks and 'currency' is created out of thin air. Then the whole process repeats over and over and over again. This results in a build-up of bonds at the Federal Reserve and a build-up of currency at the Treasury which is really just a supply of numbers. The Treasury then deposits the numbers into the various branches of the government and then we get to step 3.

Step 3: The government spends the numbers on promises, public works, social programs, and yes, unconstitutional, undeclared, imperialist military occupation all over the world. Then government employees, soldiers, military contractors, weapons manufacturers, and everybody else working in sectors where the monetized debt is distributed, deposit their pay into the banks. Then we get to step 4.

Step 4: The banks multiply the numbers by magically creating more IOU through fractional reserve lending where they steal a portion of everyone's deposit and lend it out. That 'currency' gets redeposited and then a portion is stolen again. And the process repeats over andover and over again, magnifying the currency supply exponentially. Then we the people work for some of those numbers. Which brings us to step 5 where the working class' numbers are taxed.

Step 5: We pay tax to the IRS who then turns out numbers over to theTreasury so the Treasury can pay the principal plus the interest on bonds that were purchased by the Federal Reserve with a check from nothing. Then we get to step 6. The debt ceiling delusion.

Step 6: The debt ceiling delusion.The system is designed to require ever-increasing levels of debt and will eventually collapse under its own weight because politicians and pundits always kick the can down the road so it doesn't happen on their watch. And finally, we get to step 7.

Step 7: Those banks make a profit selling our national debt to the Federal Reserve. They make a profit when the Federal Reserve pays them interest on the reserves held at the Federal Reserve, and the Federal Reserve pays them at 2% (as of the time ofthis posting) dividend on their ownership of the Federal Reserve.


Those are the facts. They cannot be contested. After all, they're facts. This is our monetary policy and its function correctly explained.

You lose, Toddster. I'm sorry. You can caricature all you want, I don't care, it's redundant. lol.

 

[Toddsterpatriot]

Yeah, getting pushback on your conspiracy stuff must be tiring.

Ha. Please. I nailed it. And you know it. You're caricaturing the facts to make it easier to just attack. And predictably so. That's what statists do. lolol.

Here's the cliff notes. Though, I'll correct the 6% dividend for the stock holders to 2% since it dropped since last November. Also, predictable given the state of our debt and the debasingof our dollar. again, down 98%.


The politicians aren't running on the idea of ''vote for me because I'll make sure that the government provides you with more free stuff than my opponent say's he will.'

Step1: The government creates glorified IOUs via Treasury Bonds. to cover the deficit spending. These bonds increase our national debt and put the public on the hook to pay it back.

Step2: IOUs are swapped to create 'currency.' The Treasury sells the bonds to the banks. The banks then turn around and sell our national debt at a profit to the Federal Reserve, which they likely own. Again, the share holders receive annually a 6% dividend. From the Fed's own webpage. The Federal Reserve then opens its checkbook which is from an account without a penny in it and buys those IOU with their own IOW in the form of the check from an account with 0 balance.They give those checks to the banks and 'currency' is created out of thin air. Then the whole process repeats over and over and over again. This results in a build-up of bonds at the Federal Reserve and a build-up of currency at the Treasury which is really just a supply of numbers. The Treasury then deposits the numbers into the various branches of the government and then we get to step 3.

Step 3: The government spends the numbers on promises, public works, social programs, and yes, unconstitutional, undeclared, imperialist military occupation all over the world. Then government employees, soldiers, military contractors, weapons manufacturers, and everybody else working in sectors where the monetized debt is distributed, deposit their pay into the banks. Then we get to step 4.

Step 4: The banks multiply the numbers by magically creating more IOU through fractional reserve lending where they steal a portion of everyone's deposit and lend it out. That 'currency' gets redeposited and then a portion is stolen again. And the process repeats over andover and over again, magnifying the currency supply exponentially. Then we the people work for some of those numbers. Which brings us to step 5 where the working class' numbers are taxed.

Step 5: We pay tax to the IRS who then turns out numbers over to theTreasury so the Treasury can pay the principal plus the interest on bonds that were purchased by the Federal Reserve with a check from nothing. Then we get to step 6. The debt ceiling delusion.

Step 6: The debt ceiling delusion.The system is designed to require ever-increasing levels of debt and will eventually collapse under its own weight because politicians and pundits always kick the can down the road so it doesn't happen on their watch. And finally, we get to step 7.

Step 7: Those banks make a profit selling our national debt to the Federal Reserve. They make a profit when the Federal Reserve pays them interest on the reserves held at the Federal Reserve, and the Federal Reserve pays them at 2% (as of the time ofthis posting) dividend on their ownership of the Federal Reserve.


Those are the facts. They cannot be contested. After all, they're facts. This is our monetary policy and its function correctly explained.

You lose, Toddster. I'm sorry. You can caricature all you want, I don't care, it's redundant. lol.

Ha. Please. I nailed it

Yes, you nailed that conspiracy thing all right.

Though, I'll correct the 6% dividend for the stock holders to 2% since it dropped since last November.

No. It's not 2%. It's the 10 year Treasury Bond yield or 6%, whichever is lower, for banks with more than $10 billion in assets. Smaller ones still get 6%.

The government creates glorified IOUs via Treasury Bonds. to cover the deficit spending. These bonds increase our national debt and put the public on the hook to pay it back.

Yup, the government should cut spending. A lot.

IOUs are swapped to create 'currency.'

If I buy a T-Bill, I'm not swapping it. And "swapping it" wouldn't create currency.

The Treasury sells the bonds to the banks.

Also to non-bank institutions, individuals and foreign governments.
TreasuryDirect - Home

The banks then turn around and sell our national debt at a profit to the Federal Reserve

The Federal Reserve hasn't expanded their balance sheet since October 2014.

which they likely own.

DERP!

The banks multiply the numbers by magically creating more IOU through fractional reserve lending where they steal a portion of everyone's deposit and lend it out.

Steal? LOL!
Were you under the mistaken impression that the bank held your funds in an individual safety deposit box with your name on it?

We pay tax to the IRS who then turns out numbers over to theTreasury so the Treasury can pay the principal plus the interest on bonds that were purchased by the Federal Reserve with a check from nothing.

And you should see what the Fed does with all their profits!!!

They make a profit when the Federal Reserve pays them interest on the reserves held at the Federal Reserve,

What did the Fed purchase with those created reserves? The answer may surprise you!!!

Sorry for any facts I posted here.
I know you'll either ignore or fail to understand them.