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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1020-F....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 11:04:40
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Asimov Posts: 26716 Incept: 2007-08-26 
east tennessee Online
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Somebody posted this here today. Couldn't find it with a casual search, but here:Quote:Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. There's a bit more responsibility ducked. Or a blatent criminal act. Not sure which. Edit: Ahh, it was nate. http://www.tickerforum.org/cgi-ticker/ak.... ---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. Last modified:
2009-05-07 12:09:51 by asimov
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Karlmarxghost Posts: 2641 Incept: 2009-01-26 
Stealing Your Property
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You're on a roll today I can't keep up with all your posts :D I know this is to tin foil to you but I'm going to present to you the same thing others have and that is why do we even have a FED? When the Federal Reserve Act was created after the Panic of 1907 this crap was supposed to be a thing of the past. We now see it's not the case. The point to the FED is to oversee the banks and keep price stability tame and we see that neither is being done. They are not living up to their obligations. The people who audit the FED are morons at best. They just got done grilling the lady who is supposed to be auditing the FED and she did not know crap. Enough is enough. This is our money we are talking about here. There is a reason why people can't save up for houses anymore and are pretty much forced to take loans and that is because of inflation. Who is supposed to control inflation, the FED. Think if EVERYONE saved up for a house and paid for it in full the banks wouldn't make much money would they. So isnt it in their interests to keep things just out of reach for the peons to force them to take loans? Why would the FED who is headed by the same banks they are supposed to be heading want to regulate themselves? Isn't it like asking the wolves to guard the hen house? Our banking system is pathetic and we need to either regulate the people who matter or we need to reword the system. When you give these fools the opportunity to screw people for their own personal gain human nature says they are probably going to do it. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-07 11:58:11
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Wisc-xc Posts: 4828 Incept: 2007-07-14
outside chicago Online
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Boy, I missed this until now. Puts the impetus to get the ship righted where it belongs, on CONgress. Reform starts there. That's where the pressure points to exact change must be directed. Anything else is futile. The buck stops there.
2009-05-07 12:02:02
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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The point of The Federal Reserve is to disconnect monetary policy from Barney Frank's dick. Yes, they have cheated. Oust those ****ers. But: Be careful what you wish for. Do you really want Barney Frank and Chris Dodd making liquidity decisions based on the number of votes they can buy with them? Is the cure proposed worse than the disease? Not sure, but we better think this through long and hard before making that decision. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 12:08:43
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island
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 any question? ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji Last modified:
2009-05-07 12:10:21 by dji
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Wisc-xc Posts: 4828 Incept: 2007-07-14
outside chicago Online
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I want banking independence, with reasonable (apolitical) govt oversight--viz. regulatory (civil service employee) oversight, not politician micro managing. CONgress' job will be to make sure the two entities--the regulators and the bankers--stay independent of each other, unlike now.
2009-05-07 12:16:16
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Pika-steph Posts: 39200 Incept: 2007-09-11
^Why I keep^ fighting; so he is not fighting for nothing.
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Genesis wrote..We the people must insist that Congress force these clowns to do their jobs. They know the mathematical facts behind this, and that is in fact the only safe and sound way to run a banking system. Hon, its really, really difficult to get people to do their jobs, when to do so would not only reveal deceit and complacency, but probable criminality. Not only that, why would they enforce regulations when not enforcing them literally lines their pockets? Non-enforcement is profitable for those in Congress. It also used to be profitable for the banking institutions until it all blew up in their faces. Simply, banks to Congress: Look, we got some problems here, work with us, and we will keep the spigots to your pockets open. Oh, and bonus, we won't squeal on you. ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org  "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." Last modified:
2009-05-07 12:19:50 by pika-steph
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Simply, what has to change is, People to Congress: "Cut that **** out right now or else." ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 12:20:24
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Koaj Posts: 957 Incept: 2009-02-03
NJ
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Is the cure proposed worse than the disease? Not sure, but we better think this through long and hard before making that decision. ----------- KD all congressional hearings, budgetary items, and spending programs are publicly available (outside of intelligence)...nothing that the Fed does is i would rather KNOW what barney and chris are doing than not have a clue what Ben is doing that thought scares me to death but its true
2009-05-07 12:20:44
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Tjeffersonsghost wrote..Why would the FED who is headed by the same banks they are supposed to be heading want to regulate themselves? Isn't it like asking the wolves to guard the hen house? Well said. ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-05-07 12:20:52
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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I understand your point but this is where it comes down to the citizens actually being citizens. Right now we are being fist f*ed by a small unelected group in the banking cartel. At least when we get fist f*ed by Barney Frank we elected him. Now this is where the people of America need to wake the **** up and start voting for people on how they run the place and not if they have a D or an R next to their name. It's our responsibility as citizens to make sure our country stays away from the grips of tyranny but to many people are to ****ing busy watching American Idol and buying into the two party crime family. It's like Dora in Finding Nemo http://www.youtube.com/watch?v=y9ZgTXDJb.... Ooh look at the pretty light. This is happening because of us. We are not being good citizens we are allowing ourselves to be dumbed down by the entertainment and media industries. So in a short answer yes I want our elected people to control the money like the constitution says. We as citizens need to do a better job of electing and holding these turds accountable. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-07 12:21:25
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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The elected people DO control the money TJG. They're refusing to enforce the black letter of the law they wrote! ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 12:22:28
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Pika-steph Posts: 39200 Incept: 2007-09-11
^Why I keep^ fighting; so he is not fighting for nothing.
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I think we need the 'or else' to be implemented at this point. In all honesty, I can barely keep up with the fraud, deception, manipulation, lies and other [bull****] that comes out of Washington DC daily. Hell, THEY aren't even keeping their lies straight at this point. ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards." Last modified:
2009-05-07 12:24:41 by pika-steph
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Wisc-xc Posts: 4828 Incept: 2007-07-14
outside chicago Online
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The main ingredient missing to get this right is politicians who represent the interests of their constituents instead of special interests. The existing batch of CONgress*****s, at the very least, must collectively be thrown out on their ears. How this is to be effected in this environment, short of systemic changes in the culture at large, is beyond me; that is, short of term limits. The problem isn't CONgress per se, but rather the problem ultimately comes down to US. Good luck with that one.
2009-05-07 12:33:00
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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Gen with all due respect I have to disagree. They don't control the money. The only thing the control is how much of it is spent which they borrow all of it by issuing T Bills. Sometimes people and other governments buy the debt sometimes they dont so the FED creates the money to buy that debt. The FED controls the money supply ie inflation and also monetary policy which how they come up with the policy is 100% secret under the Federal Reserve Act. They can collude with the other central banks on future policy and we cannot ask about it or expect a response. This is what is going on right now I feel. I feel the Central Banks are now working on a new international monetary policy but we don't know for sure because we can't get answers and by law they dont have to tell us.
---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally. Last modified:
2009-05-07 12:34:46 by tjeffersonsghost
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Koaj Posts: 957 Incept: 2009-02-03
NJ
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and by law they dont have to tell us --------- so then repeal that law
2009-05-07 12:44:25
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Pcaldallas Posts: 279 Incept: 2009-03-02
Dallas, TX
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The system is too tilted in favor of the incumbent politicians for any real change to happen via the ballot box. Until the size and scope of the federal government is reduced back to the original intent of the founders (as seen in the Constitution) the fraud, bezzle and obfuscation will continue unabated because a massive centralized government can not exist without the corresponding machinations of an entity such as the Fed; as goes one so goes the other.
2009-05-07 12:44:26
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Seektruth Posts: 380 Incept: 2007-09-01
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What is the 'or else' being mentioned here? We've already seen what happens at election time. We vote the same criminals right back in. What's next? And will it make a difference considering the fact that an apparent majority want these slimy bastards in office?
---------- Those who hammer their guns into plows will plow for those who do not.
2009-05-07 12:49:04
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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Reply To Pealdallas It is not tilted for the incumbent its actually against because the incumbent has had to vote on issues. The problem is the people dont look at how they vote on the issues they just look at the D or R next to their name and thats all they want to know. Citizens have to start doing their jobs as citizens and researching before you vote. If they vote on crap like the bank bailouts or the patriot act boot them the **** out of office. To many people are caught up on the D or R which is why I sometimes thing we are to stupid and lazy to have our own country. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-07 12:49:12
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Seektruth Posts: 380 Incept: 2007-09-01
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Tj...people aren't going to research **** before they vote. I have 'friends' that know the score and still can't get it out of their heads that they have to vote for an R or D...whichever one they usually vote for. And I want to strangle anyone that says anything about 'the lesser of two evils'.
---------- Those who hammer their guns into plows will plow for those who do not. Last modified:
2009-05-07 12:57:12 by seektruth
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Bighiller Posts: 449 Incept: 2009-05-06
Vancouver, CANADA
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I think so long as the regular sheeple are distracted by all the crap being played in the MSM (swine flue, American Idol, etc) and don't learn something, then it's just going to get worse. People don't really change until absolutely forced to. In order for this to change people are going to have to skip their stupid TV show, or skip work or do something drastic. This won't happen until things get really bad and they experience it viscerally. These "regulators" know this, if only implicitly. It's a tough one. Jared Diamond, in "Collapse: How Societies Choose to Fail or Succeed" he points out that many collapsed could have been avoided, but that people didn't make the decision to change until it was too painful not to. This is the case I see before us. Go ask your local Joe Sixpack if he knows anything about economics. Go ask if he/she knows how money is created. Probably not. Until this ignorance is smashed on a massive scale, nothing will change. It will keep getting worse until we reach a tipping point. Eventually people *feel* how screwed they're getting and that's when it happens. They won't believe the crap that comes from places of authority/control. People revolt. Revolution. Until then, I'll continue to be amused by the BS and informed by this great site. ---------- Education is improving, but ignorance and stupidity are far more fertile.
2009-05-07 12:53:49
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Tesla Posts: 8181 Incept: 2008-04-03
Delaware
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You all are missing the other side of the story. Yes, we have voting power to vote out all these idiots and elect a better class of idiot. However... WE DON'T VOTE OUT CIVIL SERVANTS ! CONgress has lost control (intentionally or otherwise) of the regulatory apparatus. We can dump all of CONgress and the same people remain running the gov day after day. And it's not just the agencies - it's CONgressional staff. Many of the same staffers who worked for dumped CONgressman A are rehired by new CONgressman B. Why ? Because the system has gotten so unwieldy that only the insiders know how to push the levers and turn the crank. Sorry, but the entire system needs a reset. Agencies must be shut down, bureaucrats need to find new careers in the real world of Main Street, and the self-perpetuating Frankenstein that is DC must be slain. More regulations on top of existing regulations will just allow more leeway for gaming, without ever cutting the original bezzle out of the system. The system is just too complicated to survive. Help it die a graceful death rather than a violent one. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-05-07 12:55:19
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Quote:Gen with all due respect I have to disagree. They don't control the money. The only thing the control is how much of it is spent which they borrow all of it by issuing T Bills. Congress is empowered to amend The Federal Reserve Act any time it would like. It probably should. But how about if it enforces what's already there first? Let's make the existing laws work first and see if they fix it. If not, THEN change the laws. Saying that a law that is being ignored won't solve the problem is foolishness; you don't know since the law isn't being applied! ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-07 12:57:50
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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I dont know Big, I didn't know squat about the economy at large before the bailouts, however when Bush made his speech last fall that we were going over the edge I woke up quick and started taking the time to learn as much as I could. Maybe there is hope.
---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke
2009-05-07 12:58:36
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