The Fed in Hot Water

[Toro]

Robert Reich (The Fed in Hot Water)

 

[Oddball]

I finally agree with something Tiny Tim Reich has said.

Still, some of his premises are off.

BBL on this one.

 

[KissMy]

Already have a thread going on this HERE

 

[Neubarth]

Toro, you are acting like a fucking nincompoop posting a grossly stupid article like that. I will quote. "bailed out Bear Stearns – taking on tens of billions of dollars of the bank’s bad loans – in order to smooth Bear Stearns’ takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion of taxpayer dollars bailing out the banks,"

Now, Toro, I know from your posts that you are not the brightest lightbulb in the bunch from your previous posts, but this makes you look totally stupid and is obviously an attempt to just attack another for the fun of it. The FED efforts to stop economic chaos are totally independent of "Congress authorizing the government to spend up to $700 Billion of Taxpayer dollars bailing out the banks."

Low IQ buffoons of which we have plenty on this forum will jump on this shit and say, "See they did not have congressional approval." Might I remind you that the FED is independent of the Congress and that congressional approval of monies spend is in no way connected to the FED. I note that you suckered DUDE in to this ruse. Shame on you. Dude does not understand what is going on and has no knowledge of the FED charter.

I expect you know better and are just trying to make him look like a fool. Shame on you!

I believe DUDE to just be a nice guy who does not really know what is going on around him. He has been suckered in by the Ron Paulites and all of their insane lies, but was questioning all of that insane crap they spew to hook fools into their web of stupidity.

What a shame that you are playing these games with people.

 

[Dis]

Toro, you are acting like a fucking nincompoop posting a grossly stupid article like that. I will quote. "bailed out Bear Stearns – taking on tens of billions of dollars of the bank’s bad loans – in order to smooth Bear Stearns’ takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion of taxpayer dollars bailing out the banks,"

Now, Toro, I know from your posts that you are not the brightest lightbulb in the bunch from your previous posts, but this makes you look totally stupid and is obviously an attempt to just attack another for the fun of it. The FED efforts to stop economic chaos are totally independent of "Congress authorizing the government to spend up to $700 Billion of Taxpayer dollars bailing out the banks."

Low IQ buffoons of which we have plenty on this forum will jump on this shit and say, "See they did not have congressional approval." Might I remind you that the FED is independent of the Congress and that congressional approval of monies spend is in no way connected to the FED. I note that you suckered DUDE in to this ruse. Shame on you. Dude does not understand what is going on and has no knowledge of the FED charter.

I expect you know better and are just trying to make him look like a fool. Shame on you!

I believe DUDE to just be a nice guy who does not really know what is going on around him. He has been suckered in by the Ron Paulites and all of their insane lies, but was questioning all of that insane crap they spew to hook fools into their web of stupidity.

What a shame that you are playing these games with people.

 

[Paulie]

Toro, you are acting like a fucking nincompoop posting a grossly stupid article like that. I will quote. "bailed out Bear Stearns – taking on tens of billions of dollars of the bank’s bad loans – in order to smooth Bear Stearns’ takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion of taxpayer dollars bailing out the banks,"

Now, Toro, I know from your posts that you are not the brightest lightbulb in the bunch from your previous posts, but this makes you look totally stupid and is obviously an attempt to just attack another for the fun of it. The FED efforts to stop economic chaos are totally independent of "Congress authorizing the government to spend up to $700 Billion of Taxpayer dollars bailing out the banks."

Low IQ buffoons of which we have plenty on this forum will jump on this shit and say, "See they did not have congressional approval." Might I remind you that the FED is independent of the Congress and that congressional approval of monies spend is in no way connected to the FED. I note that you suckered DUDE in to this ruse. Shame on you. Dude does not understand what is going on and has no knowledge of the FED charter.

I expect you know better and are just trying to make him look like a fool. Shame on you!

I believe DUDE to just be a nice guy who does not really know what is going on around him. He has been suckered in by the Ron Paulites and all of their insane lies, but was questioning all of that insane crap they spew to hook fools into their web of stupidity.

What a shame that you are playing these games with people.

What, you're not in 100% agreement with that brilliantly insightful post?

 

[KissMy]

Federal Reserve System

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

 

[Yurt]

neubarth....for the love of all that his good in this world....put a shirt on

 

[xsited1]

Robert Reich (The Fed in Hot Water)

Robert Reich might actually be starting to grow a brain. I guess he's just a late bloomer.

 

[Neubarth]

Robert Reich (The Fed in Hot Water)

Robert Reich might actually be starting to grow a brain. I guess he's just a late bloomer.

Robert Reich is just trying to make more money by playing into the crazed frenzy that the followers of Ron Paul have started with their worship of gold. One way to bring money in is to write a scandal sheet type book because it sells.

I have been saying for years that we need strong oversight over the banks. We need to try most of the major bank leadership and send them before firing squads for treason against this nation as their efforts to make money immorally and unethically have the capacity to destroy this country. The FED works within its charter to try to undo the damage that the banks have done. To get corrupt bank cooperation, the FED has to be able to offer privacy in transactions or the transactions might not take place.

The FED is not guilty because it has to try to repair the economy. The guilt lies with the banks and our Congressional failure to pass legislation that would effectively regulate those banks. Regulation! Try it. It works!

I see all of these nincompoops on this forum who think that because the FED bailed out this bank and that bank and the other bank that means the FED was involved in the bank's shenanigans in the years before that brought about the problems. The FED does not have the authority to limit what the bank can do. Congress has that authority and has refused to act. Amazing stupidity. The FED can only try to repair the damage and it can not legislate.

Over and over I see buffoons say, "The FED should have stepped in and stopped the bank..." The FED does not have the authority to stop any bank. It can as it has done on numerous occasion address problems in the banking world before Congress in hope that Congress will do something to stop the horrible corruption. Unfortunately Congress never does. I had hope that when Obama came into office with his massive majority in both the Senate and in the House he would immediately have the restrictions on illegal banking activity immediately stopped. Instead he decided to take their bribes to allow them to continue as they always have.

Right now the FED is the only Federal institution that is acting as it should to do its job. The next best institution in that regard is the Supreme Court.

If you want to know how lack of restrictive legislation on the banks can allow things to get totally out of control, read about the Savings and Loan crisis of three decades ago. The same crap that we just witnessed was allowed to happen then, and the S&L's that made their money from mortgages for residential and commercial building fell on their sword when housing prices fell. We did not learn from that lesson, so now we are repeating the same mistake again. How stupid can congress be? When are we going to see some leadership that effects change for the good?

 

[Neubarth]

neubarth....for the love of all that his good in this world....put a shirt on

God made me one of the most powerful men in the world and HE told me to post that photo. If you think God is wrong, go talk to Him. The last person who tried to tell God that He was wrong disappeared. Pooof! there was a flash, and the only thing that was left was a small pile of shit. Go see if you can do better. I do not argue with God and He likes me and tells me to go forth and show the world the beauty of His creation.

Now, if you look ugly, keep yourself clothed. For you to look that ugly, your family must have been worshiping Ba'Allah. Ba'Allah is the ancient Baal of the Old Testament, otherwise known as Satan. He makes all of his followers look ugly as sin. Why people worship him I have no clue. He is constantly demanding human blood sacrifice. That alone should turn people off to him, yet, he has a lot of followers. Worship him at your peril.

 

[Oddball]

Low IQ buffoons of which we have plenty on this forum will jump on this shit and say, "See they did not have congressional approval." Might I remind you that the FED is independent of the Congress and that congressional approval of monies spend is in no way connected to the FED. I note that you suckered DUDE in to this ruse. Shame on you. Dude does not understand what is going on and has no knowledge of the FED charter.

I expect you know better and are just trying to make him look like a fool. Shame on you!

I believe DUDE to just be a nice guy who does not really know what is going on around him. He has been suckered in by the Ron Paulites and all of their insane lies, but was questioning all of that insane crap they spew to hook fools into their web of stupidity.

What a shame that you are playing these games with people.

Like hell.

The Fed is the biggest Ponzi scam ever devised by man, run by a bunch of rich assholes who get to collect interest on "money" printed up out of thin air.

The real sucker here is you, in your blind worship of a bunch of crooks who profit by debasing the purchasing power of our currency.

 

[Neubarth]

Like hell.

The Fed is the biggest Ponzi scam ever devised by man, run by a bunch of rich assholes who get to collect interest on "money" printed up out of thin air.

The real sucker here is you, in your blind worship of a bunch of crooks who profit by debasing the purchasing power of our currency.

Dude, everything you said is wrong.

 

[Neubarth]

Our FED which art involatile
Hallowed by thy name.
Thy interest come
Thy will be done
In Banking
As it is our pleasure.
Forgive us our debts
As we forgive our debtors.

^^^^^^^^^^^^

As most of you know, the only way we will be able to fund Social Security for the next fifty years is with Free Money from the Fed. After we have borrowed it at Zero Interest for those fifty years, we can ask the FED to forgive us our debt, and they will erase it from the ledger. Just like God does not see our sin after we confess it and ask that it be forgiven, the FED will forgive us our debt if we confess it and ask that it be forgiven. Ain't the FED wonderful???

 

[Neubarth]

For the benefit of DUDE who still seems to believe all of the insane lies made up by Ron Paul, the FED does not make a profit that they get to keep. After they deduct operating expenses (janitors for all those empty bank buildings and maids and guards....) they deposit any surplus money into the US Treasury. (Where the guards actually guard real money.) There are no PONZI scheme profits, nor do the members of the FED divide up their booty every night. They do own the Bonds and Notes that they have bought from the Treasury and from various other institutions. All interest received is deposited into the US Treasury and thus returned to the US taxpayers.

If case you can not figure out what that means, we give them the interest and they turn around and give it back to us. So nice of them.

The Fact of the matter is that the FED can dismiss all of the DEBT that we own them just by erasing the computer record of the purchase. Gone, Poof! No more debt! Yahooooo! When I presented that reality to Ron Paul a few years back, he was so totally flustered that he did not know what to say, but then started talking about real debt should be backed by Gold and not some flimsy artificial thing as a computer record that could accidentally be erased. Obviously his brain was overloaded with the concept of free money vanishing just as easily as it was created. That is the reality of what we have created in the FED. It is a wonderful thing, better than sex.

 

[mudwhistle]

Robert Reich (The Fed in Hot Water)

Obama's Sec. of Treasury was in on it which means Obama picked him knowing this.

If he didn't then he's fool.

I think it figures he can get away with it....because he practically controls the press.

 

[KissMy]

This game was dreamed up 15 years ago due to rising allegations of racist lending practices by ACORN. Both parties in congress passed bills signed into law by Bill Clinton allowing all the bad loans to be sold to GSEs bought by the Fed turning all banks into GSEs.

The Fed is now monetizing these bad loans to keep them off the national debt. Every bank foreclose home loan is sold to Fannie, Freddie, Fed, or HUD for the full balance remaining on that loan. The loan is added to the Feds balance sheet that will never be paid off & newly printed money is paid back to the banks. The home is now auctioned off by HUD & there is no more debt problem for banks or government. It is not creating new inflation because the money had already been spent in the economy back when the original loan was made causing inflation at that time. It is however creating real currency that may be loaned in the future during a recovery that will be leveraged & spent in the economy causing an inflationary recovery. When prices start to rise like crazy, you will know we are in a recovery.

I have been a party to 20+ home purchases in the past 18 months in 4 different states. After going through the paper trail, this was the case on every transaction. I bought 3 of these REO's myself so far.

 

[Neubarth]

Our FED which art involatile
Hallowed by thy name.
Thy interest come
Thy will be done
In Banking
As it is our pleasure.
Forgive us our debts
As we forgive our debtors.

^^^^^^^^^^^^

As most of you know, the only way we will be able to fund Social Security for the next fifty years is with Free Money from the Fed. After we have borrowed it at Zero Interest for those fifty years, we can ask the FED to forgive us our debt, and they will erase it from the ledger. Just like God does not see our sin after we confess it and ask that it be forgiven, the FED will forgive us our debt if we confess it and ask that it be forgiven. Ain't the FED wonderful???

This is definitely one of my greatest posts. I have got to save it for posterity. Tomorrow it might be in the New York Times. That remains to be seen as all they did was ask me if they could quote me and I said yes.

 

[Oddball]

Like hell.

The Fed is the biggest Ponzi scam ever devised by man, run by a bunch of rich assholes who get to collect interest on "money" printed up out of thin air.

The real sucker here is you, in your blind worship of a bunch of crooks who profit by debasing the purchasing power of our currency.

Dude, everything you said is wrong.

Wow...What a hard-hitting and fact-packed post!!

 

[Neubarth]

Like hell.

The Fed is the biggest Ponzi scam ever devised by man, run by a bunch of rich assholes who get to collect interest on "money" printed up out of thin air.

The real sucker here is you, in your blind worship of a bunch of crooks who profit by debasing the purchasing power of our currency.

Dude, everything you said is wrong.

Wow...What a hard-hitting and fact-packed post!!

As I have already posted, the FED does not print money. The interest that they receive on the Bonds and Notes that they buy if the Chinese and Japanese refuse to buy them is deposited in the Treasury.
Everything that they do is for the benefit of the US. Because you are not very intelligent (I believe you have about an 80 IQ which is very low) you believe all of the lies of the Ron Paul crowd. They are stupider than shit. You, of course because of your low IQ are gullible and believe all of their lies. Your problem is that you have Bad DNA. Some people are just born stupid. Nothing wrong with that as there are always manual labor jobs for you if you are willing to work while sweating.