Bernanke hatred

[brokerboy]

the fed is a joke because financial companies have their ear its not independent and its worse than political. the bank that makes money getting you into stock has the feds ear, the bank uses its own money to buy stock having the feds hear too, and when they make a mistake needing to be helped they have the feds ear. its like having criminals that make up a board giving input to the warden and patrol board on how things should be ran.

 

[zdreg]

Quote from brokerboy:

the fed is a joke because financial companies have their ear its not independent and its worse than political. the bank that makes money getting you into stock has the feds ear, the bank uses its own money to buy stock having the feds hear too, and when they make a mistake needing to be helped they have the feds ear. its like having criminals that make up a board giving input to the warden and patrol board on how things should be ran.

sounds like venezuela. the US is headed there.

 

[Humpy]

Quote from piezoe:

Humpy. Go to the Fed website. The structure of the Fed is explained. Also, there are good Wiki articles dealing with it.

The Fed is already "nationalized". It's an independent agency of the federal government. It is not privately owned, as many people think. Private banks do have the option of choosing to be a part of the reserve system (over 3000 have). If they chose to join, they are required to provide some capital and in return the Fed issues some "stock" to them, but this "stock" is very different from equity in a private, for profit corporation, and imparts no ownership rights. The Fed pays for the use of the member banks capital by issuing a dividend. All of Fed profits, after expenses, flow directly back to the U.S. Treasury. Member private banks, other than receiving a dividend (see the Fed site for latest dividend) for use of their capital, do not share in any way in the money earned by the Federal Reserve System.

Thanks for the above. It is hard to see who has the authority and over what. Here in the UK the Bank of England has authority over inflation. It should also include debt or the politicians just spend and spend until there is a black hole of debt.
Someone might suggest politicians at least pass some exams and are sensible. They seem to ignore common sense in their quest for power and influence.

 

[oldtime]

Quote from trade2live:

They are brilliant guys in their theoritical field indeed, and they are selected because they will serve their masters. Look at what happens to dissenters and loose cannons in central banks, they end up leaving.

"not doing anything" is not an experiment, it's letting nature run its course, trying to do something IS the experiment. Central banks just like govt should only provide the best conditions for prosperity but they should not manipulate prices and the economy.

I hear ya, couldn't agree more, If you spend any time over there in biology, almost every experiment has turned out to be a failure.

you are correct, doing nothing is normal, doing anything is an "experiment."

 

[oldtime]

There was an old lady who swallowed a fly.
I dunno why she swallowed that fly,
Perhaps she'll die.

There was an old lady who swallowed a spider,
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly -
Perhaps she'll die.

 

[oldtime]

There was an old lady who swallowed a bird;
How absurd, to swallow a bird!
She swallowed the bird to catch the spider
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly -
Perhaps she'll die

There was an old lady who swallowed a cat.
Imagine that, she swallowed a cat.
She swallowed the cat to catch the bird ...
She swallowed the bird to catch the spider
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly
Perhaps she'll die

 

[oldtime]

There was an old lady who swallowed a dog.
What a hog! To swallow a dog!
She swallowed the dog to catch the cat...
She swallowed the cat to catch the bird ...
She swallowed the bird to catch the spider
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly
Perhaps she'll die.

 

[oldtime]

There was an old lady who swallowed a goat.
Just opened her throat and swallowed a goat!
She swallowed the goat to catch the dog ...
She swallowed the dog to catch the cat.
She swallowed the cat to catch the bird ...
She swallowed the bird to catch the spider
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly
Perhaps she'll die.

 

[oldtime]

There was an old lady who swallowed a cow.
I don't know how she swallowed a cow!
She swallowed the cow to catch the goat...
She swallowed the goat to catch the dog...
She swallowed the dog to catch the cat...
She swallowed the cat to catch the bird ...
She swallowed the bird to catch the spider
That wiggled and wiggled and tickled inside her.
She swallowed the spider to catch the fly.
But I dunno why she swallowed that fly
Perhaps she'll die.

 

[oldtime]

There was an old lady who swallowed a horse -
She's dead, of course.