Neubarth
At the Ballpark July 30th
- Thread starter
- #21
According to Harper's Index (April 2010 print edition) the Fed reported profits of $46, 100,000,000 last year.
Any idea how much of that money was returned to Treasury and how much wound up in private accounts?
What's your take on public banks modeled on the State Bank of North Dakota?
A Democratic gubernatorial candidate in Florida, with a PhD in Economics, claims:
"State and local government budgets will balance without higher taxes when BSF (the Bank of the State of Florida) cuts interest costs. 6% BSF credit cards will save people billions per month, money that stays in Florida instead of going to the big banks--and the state will make huge profits on that too.
"Saving billions in interest costs will create millions of jobs without subsidies just by keeping those billions circulating in Florida. Eventually the state will earn enough to reduce and eliminate state and local taxes while every Floridian has economic security in a recession-proof Florida."
You keep on asking the same stupid questions. What is wrong with your brain?
Without the FED we could not have the tremendous Infrastructure that we presently have in the United States. It could not have been done on the Gold Standard. If fact, almost nothing could have been done on the Gold Standard as there simply is not enough Gold in the whole world to have financed our expansion.
If you have a problem with government spending, the the issue is the government spending. The American People voted in a whole bunch of liberal spenders who know no limit to the programs they will endorse as long as it gets them re-elected. The only thing that I would keep from the present corrupt Federal Government is the non government FED. Everybody else needs to find new jobs and we need to elect fiscal conservatives to office who will only overspend if it is necessary to build more infrastructure to keep American business running.