Federal Reserve Becoming BIGGER than they are

[hugh009]

So what does every one think about the Bush Administration's idea to make the Federal Reserve bigger and more powerful than already is? Answering to NO one in Congress?

Hugh

[mankeyinc]

I think we're the public should have more control of how the money system works, the Fed being a private institutions and being able to lend money to the government, making up their own rates etc.. is a bunch of a corrupted powerful people who have long been in control of the money world since centuries.

[Gaulkin]

Doesn't matter what anyone thinks, they will do as they wish.

[hugh009]

Right on, Mankey! Created on an island off the coast of Georgia - Sea Island I believe.

[mankeyinc]

Right on, Mankey! Created on an island off the coast of Georgia - Sea Island I believe.

The Money Masters


probably one of the most education video regarding how currupted the feds and internaitonal bankers are. I wish we would all take action. keep passing it on those who think this might help, at least to inform the uninformed.

peace

[BusinessAdviser]

That's right, Public Enemy. Fight the power! YouTube - PUBLIC ENEMY - FIGHT THE POWER

[hugh009]

Thanks Mankey for that link as I have heard of the movie and have always wanted to see it. I learned about the Fed in 1990 leading me to become a Libertarian that year.

Hugh

[BusinessAdviser]

Might there be some positive aspects of the Fed?

[mankeyinc]

Might there be some positive aspects of the Fed?

whew, watch the video and tell me something positive about the feds how can there be anything positive when a well known fact is that the fed is a private organization. Look at our economy today, nothing stable about it, nothing that helps uplift the poor or anything at all.

[BusinessAdviser]

whew, watch the video and tell me something positive about the feds how can there be anything positive when a well known fact is that the fed is a private organization. Look at our economy today, nothing stable about it, nothing that helps uplift the poor or anything at all.

Do you really understand the Fed? What it does? What its goals are? What its limitations are? It appears from your comment that you believe that the Fed is solely responsible for the economic slowdown (and this is beside the fact that economic slowdowns are just parts of the economic cycle) and also that the Fed is responsible for helping the poor.

The Fed regulates the nation's monetary policy in an attempt to stabilize the economy to the greatest extent possible. What else do you think the Fed is responsible for.

[mankeyinc]

Personally I think the Fed's responsible for the private wealth of a few wealthy men, after 3 centuries since the Fed has been control of inflation and the borrowing of money to national banks and congress, has the economy ever been better since the 1860's? Look closely what the fed really did on the 1929's wall street crash and the few wealthy men that got out of the market before the great depression striked. And compare it to the greenback currency days where America was not in debt at all, but ever since the money lenders became in control again u.s.a went back into debt, and now well, the biggest country in debt. Tell me why the u.s.a being the economy leader and ran by the feds, why is it the biggest country in debt in the world right now? Worth 9 trillion dollars. Whew. Let the work of the fed's speak for itself, in fact, what have the fed's done lately?

[BusinessAdviser]

Personally I think the Fed's responsible for the private wealth of a few wealthy men, after 3 centuries since the Fed has been control of inflation and the borrowing of money to national banks and congress, has the economy ever been better since the 1860's? Look closely what the fed really did on the 1929's wall street crash and the few wealthy men that got out of the market before the great depression striked. And compare it to the greenback currency days where America was not in debt at all, but ever since the money lenders became in control again u.s.a went back into debt, and now well, the biggest country in debt. Tell me why the u.s.a being the economy leader and ran by the feds, why is it the biggest country in debt in the world right now? Worth 9 trillion dollars. Whew. Let the work of the fed's speak for itself, in fact, what have the fed's done lately?

That's what I thought. Rather than wasting time and thought criticizing your understanding of both the theoretical and practical sides of economics in the U.S., since to do so really wouldn't do either of us any good, I'm going to raise a few issues and suggest that you research them a bit to gain a greater understanding of the things you're talking about:

- Difference between causation and correlation.

- Extent/limitation of Fed's powers.

- Cause of national debt (hint: fiscal policy, not monetary policy)

Start there.

[BusinessAdviser]

I apologize for not having answered your questions before. How rude of me.

has the economy ever been better since the 1860's?

Yes, for the next several decades after the 1860s, the entire decade prior to the Great Depression, and from the end of World War II to the late 1960s, as a few examples (according to many measures of the economy).

Tell me why the u.s.a being the economy leader and ran by the feds, why is it the biggest country in debt in the world right now?

For starters, the economy is far from being run by the Fed. To answer the big question, because spending by the U.S. government (not the Fed) has exceeded its taxation.

Let the work of the fed's speak for itself, in fact, what have the fed's done lately?

Just lately? Cut interest rates recently to keep Americans spending more than they otherwise would have without the cuts.

Again, still go back and read up a bit on some of the issues I brought up in my last post. They will really help you understand the topic a bit.

[mankeyinc]

Same intention, don't really have the energy to go back and fort about whether the fed does a good job or not... I guess my point is I wouldn't trade in accordance with the fed's action. Time will tell G'day Sir.

[mankeyinc]

oi hugh this is your post, any comments? :P