More power for the Federal Reserve?

[sealybobo]

This is the problem I have with Democrats. They don't seem to understand any better than the Republicans do that the Federal Reserve is not the solution, they are the problem.

Fed may win sweeping financial oversight
Some worry plan would give central bank too much power

Fed may win sweeping financial oversight - Washington Post- msnbc.com

Congress is moving to create strong new oversight of the financial sector that would likely give the Federal Reserve authority to.... (DON'T GIVE THEM MORE POWER)

But the initiative, which could be finalized in the House by spring, is raising concerns about whether it would muddy the Fed's traditional mission and concentrate too much power in a single federal body.

(SEE, THIS IS WHAT WE SHOULD ALL BE WRITING TO CONGRESS ABOUT, NOT ABORTION)

The legislation envisioned by House Financial Services Committee Chairman Barney Frank (D-Mass.) would put the Fed, or less likely another government agency, in charge of protecting the stability of the entire system

(WHY LESS LIKELY, WHY NOT MORE LIKELY? WHY GIVE THE FED EVEN MORE POWER WHEN IT ALREADY HAS TOO MUCH?)

The Fed was created by Congress nearly a century ago as an independent entity, insulated from political pressure, so it could take the unpopular step of slowing the economy to combat inflation. But as a regulator, the Fed operates more like an ordinary government agency, with extensive review and oversight by congressional authorities.

(I DON'T BELIEVE THE FED IS GOING TO GET EVEN MORE POWER. UNBELIEVABLE)

Fed may win sweeping financial oversight - Washington Post- msnbc.com

 

[Paulie]

Sealy, what's more responsible for the credit crisis/housing bubble...

Deregulation, or the Federal Reserve's monetary policy?

 

[sealybobo]

Sealy, what's more responsible for the credit crisis/housing bubble...

Deregulation, or the Federal Reserve's monetary policy?

The GOP/Federal Reserve/Corporations deregulated the credit/housing industries and IMO purposely caused this crisis.

$750 billion right at the end of Bush's presidency. CHACHING!!!

That's like asking, who's more responsible for killing a person, the murderer or the gun.

The Fed is the murderer, the gun/tool/instrument used in this case is the deregulations.

 

[editec]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

 

[dilloduck]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

 

[RodISHI]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

More beans dillo. There comes a time to put an end to their extortion tactics.

 

[dilloduck]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

More beans dillo. There comes a time to put an end to their extortion tactics.

damn--that reminds me--I gotta make chili-----and yes--I use beans in mine

 

[sealybobo]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

Exactly. It should be socialized like it was before JP MOrgan, Rockafellor & Carnege bribed Congress in 1913 to pass the Federal Reserve Act.

Before then, our money was backed by gold. Why did the government turn over our finances to these ruthless greedy business men in 1913? And now the $ is not backed by anything. Are we stupid?

If the government owned the Federal Reserve, we wouldn't be charging ourselves interest on the debt. Hell, we probably wouldn't even have a debt. At least not like the debt we have now.

Think about this. The Federal Reserve loved it that Bush doubled the debt. Now they own us even more.

 

[sealybobo]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

For sure. They're doing what the Unions used to do. Either give them what they want or they'll take the entire system down!!!

 

[dilloduck]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

Exactly. It should be socialized like it was before JP MOrgan, Rockafellor & Carnege bribed Congress in 1913 to pass the Federal Reserve Act.

Before then, our money was backed by gold. Why did the government turn over our finances to these ruthless greedy business men in 1913? And now the $ is not backed by anything. Are we stupid?

If the government owned the Federal Reserve, we wouldn't be charging ourselves interest on the debt. Hell, we probably wouldn't even have a debt. At least not like the debt we have now.

Think about this. The Federal Reserve loved it that Bush doubled the debt. Now they own us even more.

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

 

[sealybobo]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

Exactly. It should be socialized like it was before JP MOrgan, Rockafellor & Carnege bribed Congress in 1913 to pass the Federal Reserve Act.

Before then, our money was backed by gold. Why did the government turn over our finances to these ruthless greedy business men in 1913? And now the $ is not backed by anything. Are we stupid?

If the government owned the Federal Reserve, we wouldn't be charging ourselves interest on the debt. Hell, we probably wouldn't even have a debt. At least not like the debt we have now.

Think about this. The Federal Reserve loved it that Bush doubled the debt. Now they own us even more.

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

I didn't mean to. I didn't mean to mention Bush. I just meant to say "The Fed loves it when the debt doubles.".

 

[editec]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

Yeah, I think that about sums it up, too.

 

[editec]

Exactly. It should be socialized like it was before JP MOrgan, Rockafellor & Carnege bribed Congress in 1913 to pass the Federal Reserve Act.

Before then, our money was backed by gold. Why did the government turn over our finances to these ruthless greedy business men in 1913? And now the $ is not backed by anything. Are we stupid?

If the government owned the Federal Reserve, we wouldn't be charging ourselves interest on the debt. Hell, we probably wouldn't even have a debt. At least not like the debt we have now.

Think about this. The Federal Reserve loved it that Bush doubled the debt. Now they own us even more.

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

I didn't mean to. I didn't mean to mention Bush. I just meant to say "The Fed loves it when the debt doubles.".

So, it would seem.

What business are bankers in?

They lend money. Face it, that's all they really do.

So it stands to reason that the bankers which own the FED LOVE it when the government borrows money, and when they can convince the FED to make money too cheap, too.

Our pain is their gain.

duh!

 

[RodISHI]

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

I didn't mean to. I didn't mean to mention Bush. I just meant to say "The Fed loves it when the debt doubles.".

So, it would seem.

What business are bankers in?

They lend money. Face it, that's all they really do.

So it stands to reason that the bankers which own the FED LOVE it when the government borrows money, and when they can convince the FED to make money too cheap, too.

Our pain is their gain.

duh!

Good point ed.

Facts are they lend other peoples money so they can make their money pot larger.

 

[RodISHI]

The FED as currently structured is a tool of the wealthy and powerful banks to keep them that way.

Still something like a FED must exist, just not one like we have now.

I am having serious doubts that the American people or the people that supposedly represent them can change it. I firmly beleive were are being financially blackamiled. The fed gets it's way or we starve.

For sure. They're doing what the Unions used to do. Either give them what they want or they'll take the entire system down!!!

And that is exactly why so many people got on the bandwagon to take the unions down.

Long term it hurt everyone.

 

[RodISHI]

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

Good point dillo. We all need to get together and stop this nonsense that keeps us divided.

 

[sealybobo]

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

Good point dillo. We all need to get together and stop this nonsense that keeps us divided.

Ok, agreed.

But the problem is, I suspect, is that most people don't get what we are talking about when we say the Federal Reserve is the problem.

Remember how many of us called about illegal immigration or that Dubai Port deal?

We need that many people to call their Senators and tell them to abolish the Federal Reserve.

As of right now, most people don't even get it that they are the problem.

 

[RodISHI]

Bobo---making a partisan issue out of it will guarantee nothing gets done--wise up.

Good point dillo. We all need to get together and stop this nonsense that keeps us divided.

Ok, agreed.

But the problem is, I suspect, is that most people don't get what we are talking about when we say the Federal Reserve is the problem.

Remember how many of us called about illegal immigration or that Dubai Port deal?

We need that many people to call their Senators and tell them to abolish the Federal Reserve.

As of right now, most people don't even get it that they are the problem.

Most people don't get it that many of their statesmen already sold them out.

Problem here sealy is once you already told your congressmen/senators that whatever the issue is you are concerned about and give them the info on whatever it is and they brush you off as if to say "So what" why bother?

 

[sealybobo]

Good point dillo. We all need to get together and stop this nonsense that keeps us divided.

Ok, agreed.

But the problem is, I suspect, is that most people don't get what we are talking about when we say the Federal Reserve is the problem.

Remember how many of us called about illegal immigration or that Dubai Port deal?

We need that many people to call their Senators and tell them to abolish the Federal Reserve.

As of right now, most people don't even get it that they are the problem.

Most people don't get it that many of their statesmen already sold them out.

Problem here sealy is once you already told your congressmen/senators that whatever the issue is you are concerned about and give them the info on whatever it is and they brush you off as if to say "So what" why bother?

Or, like they did with the illegal immigration issue, they come up with a bill that will supposedly deal with the issue, just to make us happy, but then we find out that the bill doesn't solve the problem and on top of that, it ends up costing us because they always put a billion dollars of pork into every bill they pass.

Bastards!!!!

So don't expect any politician to put their career on the line to fight the Federal Reserve when not enough of us are willing to back them.

Remember, they are just representatives. They represent their constituents. If their constituents don't have a problem with the Federal Reserve, why should they?

This reminds me of what George Carlin said. LOL

“I don’t complain about politicians. Everyone complains about politicians. Everyone says that they suck. Where do these politicians come from? They don’t fall out of the sky. They don’t come through a membrane from some other reality. They come from American parents, American families, American homes, American schools, American churches, American businesses, American universities – and they are elected by American citizens. This is the best we can do, folks. This is what we have to offer. It is what our system produces – garbage in, garbage out. If you have selfish, ignorant citizens, you will get selfish, ignorant leaders. So maybe it isn’t the politicians who suck, maybe it is something else that sucks, like the public. The public sucks. There’s a nice campaign slogan for someone.”

 

[sealybobo]

Good point dillo. We all need to get together and stop this nonsense that keeps us divided.

Ok, agreed.

But the problem is, I suspect, is that most people don't get what we are talking about when we say the Federal Reserve is the problem.

Remember how many of us called about illegal immigration or that Dubai Port deal?

We need that many people to call their Senators and tell them to abolish the Federal Reserve.

As of right now, most people don't even get it that they are the problem.

Most people don't get it that many of their statesmen already sold them out.

Problem here sealy is once you already told your congressmen/senators that whatever the issue is you are concerned about and give them the info on whatever it is and they brush you off as if to say "So what" why bother?

We need someone like Moveon.org to take up this cause. They send out emails all the time encouraging people to call their reps about certain issues. I just got one. Here it is:

President Obama worked through the weekend to convince skeptics in Congress to quickly pass his economic recovery plan this week.

Obama's stimulus would invest in green jobs, health care, and relief for struggling states. But conservatives are already fighting against Obama—they're working furiously to block his proposed investments.1


CNN reports conservatives are clamoring for "far more business tax cuts, such as reducing the corporate income tax rate."2 If they win this fight, it will be at the expense of the investments our country urgently needs.


Your representative in Congress, Thaddeus McCotter, is a key vote on President Obama's economic plan—and the vote is Wednesday. Can you call and ask him to vote for Obama's critical investments in green jobs, health care, and relief for struggling states—and not more tax cuts for corporations and the rich?

Representative Thaddeus McCotter
Phone: 202-225-8171


Then, please report your call by clicking here:

MoveOn.org Political Action: Democracy in Action