Federal Reserve Oversight Bill Passes House, Obama Veto Threat Looms

[EdwardBaiamonte]

11 Reasons Why The Federal Reserve Should Be Abolished | Zero Hedge

dear, give us one good reason or admit you should not be talking about this. We can all cut and paste libertarian BS. You can't support it so give it up. You've been brainwashed into a conspiracy theory!! You're smarter than that!!

 

[Toddsterpatriot]

Federal Reserve Oversight Bill Passes House, Obama Veto Threat Looms - Ben Swann's Truth In Media

Most transparent administration in history!

let's be honest the Fed is run by college professors and they have it down to a science. The idea of having no nothing politicians interceding could be a disaster for the economy. It is true the Fed is not democratic in any way shape or form but oddly that's for the best in this case.

Let's be honest, the Fed is not even part of the US Government and has absolutely no oversight, that has to change!

the Fed is not even part of the US Government

That's ridiculous. Of course it is.

and has absolutely no oversight

Would Greenspan or Bernanke subject themselves to hours of questions by morons like Maxine Waters, Ron Paul and Alan Grayson if it wasn't a requirement? LOL!

If you consider the Federal Reserve to be part of the US Government you are seriously misinformed,
A simple Google search might set you straight, for starters try:
Is the Federal Reserve System a Governmental or a Privately controlled organization? | AMI (American Monetary Institute)
which states:
the Federal Reserve system is essentially dominated and controlled by private financiers, not our government; and to the extent that there is ownership of it, it is entirely private. Therefore despite the ambiguity – and confusion – the Fed is more accurately seen as a private, not a governmental institution, though with substantial governmental ties.

A simple Google search might set you straight, for starters try:

Thanks. Do you have a non-moron source?

First, the banking profits coming through the privileged money creation process mainly occurs at the member bank level of operation, and those profits are not turned over to the Treasury. That is, the net earnings from the member banks seigniorage privilege are not turned over to our government but kept by the private member banks.

Privileged money creation? Only the Fed creates money from thin air.
If they mean lending from deposits, they're morons.
Seigniorage? LOL! Same argument. Only the Fed and the US Mint get that.
If they mean lending from deposits, they're even dumber than I first thought.

essentially dominated and controlled by private financiers, not our government

What does that even mean? It was created by Congress. The Chairman is appointed by the President, confirmed by the Senate. Net earnings go to the US Treasury.
The Congress could change their dual-mandate, tomorrow. They could abolish the Fed tomorrow.

and to the extent that there is ownership of it, it is entirely private.

The "private owners" got $1.7 billion in dividends last year. The US Treasury, about $100 billion.
What kind of private organization gives nearly 60 times more earnings to the Treasury, than to themselves?

 

[Toddsterpatriot]

Federal Reserve Oversight Bill Passes House, Obama Veto Threat Looms - Ben Swann's Truth In Media

Most transparent administration in history!

The Fed has NEVER been audited. So why on earth is Obama threatening to veto this bill? Of course, we know why: because he's all about protecting government and big-money bureaucracy from accountability and exposure. I'll be curious to see if any liberals are troubled by Obama's veto threat.

The Fed has NEVER been audited.

Recent audits by Deloitte are available online.

 

[Toddsterpatriot]

Federal Reserve Oversight Bill Passes House, Obama Veto Threat Looms - Ben Swann's Truth In Media

Most transparent administration in history!

The Fed has NEVER been audited. So why on earth is Obama threatening to veto this bill? Of course, we know why: because he's all about protecting government and big-money bureaucracy from accountability and exposure. I'll be curious to see if any liberals are troubled by Obama's veto threat.

please say what evil the Fed may be committing.

11 Reasons Why The Federal Reserve Should Be Abolished
11 Reasons Why The Federal Reserve Should Be Abolished | Zero Hedge

That is more than typically moronic Zero Hedge material.