Is the fed's days now numbered???

[BOBO]

It seems to me that the fed reserve is finding itself more & more under the magnifying glass of congress. 1st Ron Paul & now even worse for them, Michele 'Hitman' Bachmann. As ACORN found out the hard way once the 'Hitman' is on you... "You can run but you cannot hide." It seems that congress is now looking for a target to shift blame onto for the now bankrupt American debt spending financial system.
More & more I hear rumblings about the fed from capital hill as election day 2012 gets closer & closer. It's too late for the Obama administration to disassociate themselves from the fed fiasco as Obama lacked the common sense to both have 'an out' & also cover his tail. Could it be that knowing that the Obama admin is already history that the capital hill gang is looking to drop the bomb in the feds lap for the debt spending crisis???

 

[sparky]

Right now the Fed is buying up T bills in an attempt to artifically stimulate the economy

this is about the only card they've left, aside from continuing to pollute the species

you see, the fed, being niether fedral OR a reserve (since Nixon btw) is an integral component to our economy

now i used to be on the 'audit the fed' bandwagon myself, but i've come to the conclusion that openly revealing the machinations of central banking runs the risk of creating austerity overnight.

all one needs do is watch the euro countries subjecting themselves to audit , and the subsequent IMF ultimatums to realize we're probably in similar straights , should the bean counters be let off their leash

better to let the Fed play it's shell games imho

~S~

 

[editec]

I think it highly unlikely that the FEDERAL RESERVE system is likely to be radically changed regardless of which party takes the White House.

The FED system is the underpinning of the economic system we have today, and unless we are truly prepared to question how wealth is distributed (and nobody's willing to do that!) then something LIKE THE FED must exist.


Now if we were serious about ending the CLASSIST CAPITALIST system we have today, we're still have a FED, except it wouldn't just be the BANSTER'S BANK, it would the THE BANK of the US citizens.

We'd all be making and paying our mortgages to the FED instead of to some private bank, for example.

The profit that the FED would make on US citizen borrowing would end up where?

In the hands of the government to be loaned back out to the american people to advance their businesses and keep the nation afloat.

An honestly run FEDERAL BANKING SYSTEM eliminates most private banks because they are no longer really needed.

An honestly run FEDERAL BANKING SYSTEM is what's needed, but don't expect either party to sign onto this modest idea.

Honest capitalism isn't something any of the masters are remotely interested in having.