Congress to audit the FED

[HiF trader]

Quote from amtrak:

Martinghoul, I have a question --

It was my understanding that the Fed initially DID collect interest on the national debt for the benefit of the Fed's owners (Rothschild's, etc.) until a law change in 1947 caused almost all of the interest on the debt to go back to Treasury.

Correct or no?

Define the word "most". How can you trust that they don't fumble the books and make it whatever number they want.

How can you trust a criminal mind to honor the deal ? You gotta be crazy to trust these people.

Why is business done with these international bankers when we don't need them at all.

Why are we cutting them in when we don't have to, this is crazy

 

[Illum]

I don't know about the European banker conspiracy. What I do know is... it is way too easy for our bloated government to go and get cash and think about it later. As a conservative and a believer in free markets, I say to hell with the Fed. No plausible reason to not let us have a look at the books either. It's our debt.

 

[HiF trader]

Quote from Illum:

I don't know about the European banker conspiracy. What I do know is... it is way too easy for our bloated government to go and get cash and think about it later. As a conservative and a believer in free markets, I say to hell with the Fed.

I honestly believe (and yes go ahead and assume I am crazy)

I think that if congress got together to destroy the FED. The Federal Reserve would overnight destroy entire US economy.

Overnight. They would do this as last act of revenge.

These guys are very dangerous. :eek:

 

[krazykarl]

Quote from jjj1000:

Please contact your senator and support this legislation to audit the FED. The FED is not the owner of the money; the money BELONGS TO THE PEOPLE. The People have the right to know what the FED is doing.

http://www.huffingtonpost.com/2010/04/27/broad-bipartisan-coalitio_n_553305.html

 

[HiF trader]

krazykarl you keep embarrassing yourself

Why the need for FED secrecy, why not audit if there is nothing to hide.

Answer that one Mr. I post pics because I am dumb

 

[Martinghoul]

Quote from achilles28:
Now we're getting somewhere. That's right.

So why should we pay taxes on debt owned by the FED, when those interest and principle payments are just remitted back to the Treasury and destroyed? Think about it. Income taxes that Americans labored over, get handed over to the FED > Treasury > destroyed.

The net result is taxpayers pay interest on money they borrow from themselves. Because Government institutions and contractors spend that money first and enjoy the benefit of lower prices, it's the taxpayer who bears the burden of that spending through inflated CPI + interest + bubbles from artificially suppressed interest rates, taxpayers finance!

Had interest free money just been printed and spent, taxpayers only shoulder debasement. Not debasement + interest. It unfairly punishes taxpayers for the benefit of Government, contractors, and Bankers who use that money first.

Right, but that's plain silly, achilles... If I lend myself 10 bucks at 10% daily interest and then pay myself 11 bucks back tomorrow, where have I suffered anything, apart from, potentially, what you call "debasement"?

Furthermore, if you're unhappy about the government issuing treasuries and spending the proceeds in an unproductive fashion, what does that have to do with the Fed? Fix your dysfunctional government...

Finally, your objection to me sounds analogous to complaining about the IRS while loving the idea of income taxes. If you like the idea of taxes, you'd better accept the costs of running the IRS. If you like the idea of a monetary economy with a unified medium of exchange, you'd better accept the costs of running a Central Bank. If, on the other hand, you think the whole conceptual framework is wrong, there's no point having a discussion.

And btw, you answered my question with a question. So please.

Mine wasn't really a question, but point taken. Apologies.

 

[CaptainObvious]

And who will audit congress? Congress auditing the Fed is like Arthur Andersen auditing Enron. Don't expect much truth!

 

[Martinghoul]

Quote from HiF trader:
Martinghoul I suggest you inform yourself on how FED works

This documentary link shows how wrong you are. Assuming you are not a paid FED shill. Spreading propaganda and lies that everything is peachy.

Things are not Peachy, things are rotten peachy

I am informed I assure you...

And I am not a paid Fed shill, I am the Big Benny B himself, here to chat to you, HiF, and to spread the word.

Quote from amtrak:
Martinghoul, I have a question --

It was my understanding that the Fed initially DID collect interest on the national debt for the benefit of the Fed's owners (Rothschild's, etc.) until a law change in 1947 caused almost all of the interest on the debt to go back to Treasury.

Correct or no?

Not correct, to the best of my knowledge...

 

[krazykarl]

Quote from HiF trader:

krazykarl you keep embarrassing yourself

Why the need for FED secrecy, why not audit if there is nothing to hide.

Answer that one Mr. I post pics because I am dumb

The fed is routinely "audited" by congress - why do you think it's not? Did you read some crazy blog article somewhere that gave you the false impression that the Fed is totally a private entity instead of the handful of entities, public and private, that actually comprise the Fed?

Congress can see anything they want in the Fed's books, regardless if it's in one of the public entities or the private entities. Just subpoena it, bam, a few days later they have whatever they want.


Fact is you appear to be a troll, and an uneducated one at that. Please go back to the yahoo boards.

 

[Kassz007]

Quote from HiF trader:

Martinghoul I suggest you inform yourself on how FED works

This documentary link shows how wrong you are. Assuming you are not a paid FED shill. Spreading propaganda and lies that everything is peachy.

Things are not Peachy, things are rotten peachy

Stop creating new alias' to support your own opinions, stupid fucking troll.