What the F Obama , He wants to raise the debt ceiling again

[Toddsterpatriot]

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

Give away paper money? No, they don't do that. Not even once.

What in the **** is wrong with you toad? Do you have a reading problem? No where in that post did I say that.

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

Read this slowly and let it sink in
The Federal reserve exchanges Federal Reserve Notes for U.S. bonds from the U.S. Treasury

No, the Fed doesn't give FRNs to the Treasury in exchange for bonds. The Treasury doesn't use FRNs. The Fed doesn't give paper money away either.

 

[bigrebnc1775]

I read your incorrect assertion.

In 2010 the Federal Reserve System transferred most of its net income to the U.S. Treasury. The 2010 transfer totaled $78.4 billion. This amount represents a $31 billion increase over 2009's results, primarily the result of increased earnings on securities holdings during 2010.

I don't know how you reach your conclusion after I provided the real info.

Oh, right, it's because you're stupid.

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

You're getting confused here. "Treasury bonds" originated from the Treasury, but they're held by the public. Everybody has treasuries, especially banks. So now think about this for half a second, what does the Fed target? The fed funds rate. Does buying bonds from the US Treasury affect the fed funds rate? No. Affecting the amount of bank reserves by buying bonds from banks does. The Fed buys treasuries from banks in the open market - hence open market operations - but does not buy bonds directly from the Treasury (since that is illegal).

read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?

 

[bigrebnc1775]

Give away paper money? No, they don't do that. Not even once.

What in the **** is wrong with you toad? Do you have a reading problem? No where in that post did I say that.

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

Read this slowly and let it sink in
The Federal reserve exchanges Federal Reserve Notes for U.S. bonds from the U.S. Treasury

No, the Fed doesn't give FRNs to the Treasury in exchange for bonds. The Treasury doesn't use FRNs. The Fed doesn't give paper money away either.

No, the Fed doesn't give FRNs to the Treasury in exchange for bonds. The Treasury doesn't use FRNs.

Yes they do.

The Fed doesn't give paper money away either.

Correct they don't

 

[Toddsterpatriot]

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

You're getting confused here. "Treasury bonds" originated from the Treasury, but they're held by the public. Everybody has treasuries, especially banks. So now think about this for half a second, what does the Fed target? The fed funds rate. Does buying bonds from the US Treasury affect the fed funds rate? No. Affecting the amount of bank reserves by buying bonds from banks does. The Fed buys treasuries from banks in the open market - hence open market operations - but does not buy bonds directly from the Treasury (since that is illegal).

read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds

Wrong. The Treasury doesn't want, or need, FRNs.

 

[Toddsterpatriot]

What in the **** is wrong with you toad? Do you have a reading problem? No where in that post did I say that.



Read this slowly and let it sink in
The Federal reserve exchanges Federal Reserve Notes for U.S. bonds from the U.S. Treasury

No, the Fed doesn't give FRNs to the Treasury in exchange for bonds. The Treasury doesn't use FRNs. The Fed doesn't give paper money away either.

No, the Fed doesn't give FRNs to the Treasury in exchange for bonds. The Treasury doesn't use FRNs.

Yes they do.

The Fed doesn't give paper money away either.

Correct they don't

Have you ever given or received FRNs in any transaction you've had with the US Treasury?

 

[DSGE]

You're the one that is assuming the fed gives the paper money away they don't they exchange the paper for U.S. bonds from the treasury. Thats the way they have been doing it for years.

You're getting confused here. "Treasury bonds" originated from the Treasury, but they're held by the public. Everybody has treasuries, especially banks. So now think about this for half a second, what does the Fed target? The fed funds rate. Does buying bonds from the US Treasury affect the fed funds rate? No. Affecting the amount of bank reserves by buying bonds from banks does. The Fed buys treasuries from banks in the open market - hence open market operations - but does not buy bonds directly from the Treasury (since that is illegal).

read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?

Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.

Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.

 

[bigrebnc1775]

You're getting confused here. "Treasury bonds" originated from the Treasury, but they're held by the public. Everybody has treasuries, especially banks. So now think about this for half a second, what does the Fed target? The fed funds rate. Does buying bonds from the US Treasury affect the fed funds rate? No. Affecting the amount of bank reserves by buying bonds from banks does. The Fed buys treasuries from banks in the open market - hence open market operations - but does not buy bonds directly from the Treasury (since that is illegal).

read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?

Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.

Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.

Just because you don't believe it doesn't mean I am wrong either. but facts are facts.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it

You go to hell you ******* dick sucking son of a *****. You don't want to read to truth march your ****** ass away from this god damn thread.

 

[DSGE]

read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?

Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.

Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.

Just because you don't believe it doesn't mean I am wrong either. but facts are facts.

Well you haven't produced any facts have you. All you're doing is telling us how you think it works. You've not only given absolutely no supporting evidence, I've actually given you evidence showing that you're extremely wrong. If you're not gonna produce evidence, that means you lose.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it

You go to hell you ******* dick sucking son of a *****. You don't want to read to truth march your ****** ass away from this god damn thread.

"Don't want to read the truth". What ******* truth? I agree that private banks hold equity in the Fed you ******* arsehole. And your own source says that it doesn't ******* matter because the decisions are made, not by private banks, but by people appointed by the government. You have the reading comprehension of a 12 year old.

 

[bigrebnc1775]

Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.

Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.

Just because you don't believe it doesn't mean I am wrong either. but facts are facts.

Well you haven't produced any facts have you. All you're doing is telling us how you think it works. You've not only given absolutely no supporting evidence, I've actually given you evidence showing that you're extremely wrong. If you're not gonna produce evidence, that means you lose.

We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the **** up about it

You go to hell you ******* dick sucking son of a *****. You don't want to read to truth march your ****** ass away from this god damn thread.

"Don't want to read the truth". What ******* truth? I agree that private banks hold equity in the Fed you ******* arsehole. And your own source says that it doesn't ******* matter because the decisions are made, not by private banks, but by people appointed by the government. You have the reading comprehension of a 12 year old.

Well you haven't produced any facts have you.

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

You have the reading comprehension of a 12 year old

I believe you do have a problem when you and toad fail to comprehend and keep asking me to repeat what I posted over and over.

And your own source says that it doesn't ******* matter because the decisions are made, not by private banks, but by people appointed by the government.

You should quote that part because it doesn't say that, now does it?

 

[DSGE]

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.

And your own source says that it doesn't ******* matter because the decisions are made, not by private banks, but by people appointed by the government.

You should quote that part because it doesn't say that, now does it?

No worries:
FactCheck.org : Federal Reserve Bank Ownership

Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

You ready to admit it now? Now that your own source says so?

 

[bigrebnc1775]

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.

You should quote that part because it doesn't say that, now does it?

No worries:
FactCheck.org : Federal Reserve Bank Ownership

Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

 

[Toddsterpatriot]

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.


No worries:
FactCheck.org : Federal Reserve Bank Ownership

Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

I also used another source.

Your other source is wrong.

 

[DSGE]

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.


No worries:
FactCheck.org : Federal Reserve Bank Ownership

Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Why are you still on this point? What does it matter if it's "owned" by private banks? Normally when I "own" something I can do with it whatever I like. That's not the case here. Your source says it's run by people appointed by the government. Even though banks own it, they don't run it. And it's monetary policy that's the important thing (controlling how much money is in the economy). Monetary policy is decided not by banks, but by people appointed by the government.

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers.

You've just made this up. Where is the god damn evidence?

According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Where in there does it mention lending to the US government? It says the New York Reserve will engage in transactions with primary dealers to swap securities for more liquid treasury securities. This is not evidence of anything, it's not relevant, it's not interesting. Thanks for wasting our time with it.

 

[Toddsterpatriot]

As I said just because you don't believe doesn't make it wrong People use to believe the earth was flat.

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.


No worries:
FactCheck.org : Federal Reserve Bank Ownership

Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

 

[bigrebnc1775]

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.


No worries:
FactCheck.org : Federal Reserve Bank Ownership



You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

I also used another source.

Your other source is wrong.

Anyone that will be wrong will be you.

 

[bigrebnc1775]

I don't believe it because you just made it up. You gave no evidence. I gave you evidence to the contrary though. Like if you showed somebody who thought the earth was flat a photograph taken from outer space of the world being round, you'd expect them to change their ******* mind. I've given you the photograph (Federal Reserve Act), and you're sticking to your idiotic belief.


No worries:
FactCheck.org : Federal Reserve Bank Ownership



You ready to admit it now? Now that your own source says so?

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you

 

[DSGE]

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you

Really? But you don't even know how to read.

 

[Toddsterpatriot]

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you

I also realize that whoever added that to Wiki is smarter than you.
Low bar, I know.
Tell me again how the FRNs in my wallet are owned by the Fed. LOL!

 

[Toddsterpatriot]

I also used another source. But fact check did say the fed was privately owned yes or no?

Again
read this slowly

Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal government’s I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks’ dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):

"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you

If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.

It belongs to the Federal Reserve.

OMG! Still hilarious.

 

[DSGE]

Even Wikipedia knows more than you.

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]

According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]

I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you

If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.

It belongs to the Federal Reserve.

OMG! Still hilarious.

Oh man. We should totally submit that one to Reader's Digest. Spread the laughter