US debt ?

[DSGE]

Was it congressional authorized? No. The Fed works in secret and must. Which is why no audits allowed. If you're this lost on the scheme. READ some history. They work on their own in their interest. We're just the pawns that own the slavery.

Time to toss the tin foil hats and get back to facts. Back in 1913 Congress designated the Federal Reserve as the private banks lender of last resort. The Fed's constantly audited and their statements are posted here.

I'm fully aware of the FR internal audit disclosures. Sorry, lender of last resort to foreign banks is not in the reserve act.

FRB: Federal Reserve Act. Section 14

 

[DSGE]

...It shows how we'd been having unprecedented negative reserves in '08 which were immediately fixed by TARP.

No. It shows there were negative non-borrowed reserves, which is total reserves minus borrowed reserves...

OK, though even if we said it was really called "Federal Reserve monitored bank negative non-borrowed reserves" it would still be reversed by TARP. Something else we got is that the subsequent deficit spending fiscal policy turned TARP's correction into a stimulus generated catastrophe.

Not sure why TARP is relevant here...

 

[DSGE]

...It was reported exactly the way it should be...

Sure, if all we want is 'proving' gold was pegged and the PCE wasn't. That's why we got gold's price from 1833 and the PCE's annual change since 1960, OF COURSE they looked different --politics, ya can't beat it!

That doesn't matter. When the price of gold is very stable, the rate of change is zero. (as you can see on your graph). Something you can see equally well on both price and rate of change graphs. For PCE on the other hand it's growing. So we use percentage change graphs to see the violent fluctuations in the growth rate.

Going back into business and hard reality, we start with 1800 and compare yr/yr for both gold--

--and inflation--

--and we begin with gold prices stable and everything else wild, and then we change over to gold crazy and everything else sane.

Except PCE isn't stable. Gold was extremely stable with virtually 0% growth when being "pegged" by the Fed. The same isn't true for PCE.

But like I asked twice now, you keep dodging the question, what price do you think the Fed has "pegged" PCE to? Once you make clear what price you think the peg is at, we can take a look at the size of deviations from the peg.

 

[expat_panama]

...lender of last resort to foreign banks is...

OK, the Fed's loaning money to aliens. Still no links. Just curious, we talking extraterrestrial or just the earth kind?

 

[EdwardBaiamonte]

You call everything "liberal" (clearly not knowing what it means).

of course if you had any evidence that I didn't know what the word meant you would not be so afraid to present it