Federal Reserve Admits Hiding Gold Swap Arrangements

Quote from fkbsuhites:

the rules governing the asset backed securities market is made by "the fed".

The TRILLIONS the TAX PAYERS will eventually have to pay off ( if not recovered by the treasury) were funneled through the treasury into a private playground of fed banks with zero oversight or transparency over the entire process. Let's call this the Grand theft.

For petty theft, the same setup was used to funnel cash into GS ( a fed bank component) coffers by bailing out AIG. In essence GS was not penalized like it should have been in a free market.

Free markets exist only to screw those who live outside this little cosy "the fed" sandbox.

And why does the congress, ie the representatives of the people who will foot the interest bill, have to force "the fed" to answer simple questions of where the money went?

http://rawstory.com/08/news/2009/07/21/kucinich-is-the-fed-paying-banks-not-to-loan-money/


Is English your second language?
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As it happens, English IS my second language. I am unclear what it has to do with the discussion.

You're confounding so many different concepts that it's sorta difficult for me to extract a coherent argument out of your drivel. However, I'll try to explain one last time and then I'll stop, 'cause it's a waste of time.

There are no "rules" set by the Fed that govern the ABS mkt. The only regulator that can make a claim that the ABS mkt is within their purview is the SEC. Pls don't make silly assertions about things you have no idea about.

As to zero oversight and transparency, why aren't you happy with the disclosures the Treasury Dept is providing you? They have told you how much TARP money goes to which program, haven't they? Isn't that non-zero transparency, by definition?

As to the various bank recapitalization measures, let's see. The direct purchases of stock (TCPP) were decisions made by the US Treasury. Same for the guarantees of Citi and BoA assets. The TLGP program was all FDIC, with advice from both the Fed and the Treasury Dept. While I agree with you that the various liquidity options were sold to banks at the wrong price, the Fed wasn't the one selling them.

As to the rest of your post, what does it have to do with anything I said? If English is your first language (as you seem to imply), it makes me sad...
 
are you referring to the same SEC that gave Madoff a clean sheet to keep on stealing?

you do realize the SEC is a running joke? its only job is to act as a revolving door into the den of thieves called wall street.



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we can try grunts and groans next time?







Quote from Martinghoul:

As it happens, English IS my second language. I am unclear what it has to do with the discussion.

You're confounding so many different concepts that it's sorta difficult for me to extract a coherent argument out of your drivel. However, I'll try to explain one last time and then I'll stop, 'cause it's a waste of time.

There are no "rules" set by the Fed that govern the ABS mkt. The only regulator that can make a claim that the ABS mkt is within their purview is the SEC. Pls don't make silly assertions about things you have no idea about.

As to zero oversight and transparency, why aren't you happy with the disclosures the Treasury Dept is providing you? They have told you how much TARP money goes to which program, haven't they? Isn't that non-zero transparency, by definition?

As to the various bank recapitalization measures, let's see. The direct purchases of stock (TCPP) were decisions made by the US Treasury. Same for the guarantees of Citi and BoA assets. The TLGP program was all FDIC, with advice from both the Fed and the Treasury Dept. While I agree with you that the various liquidity options were sold to banks at the wrong price, the Fed wasn't the one selling them.

As to the rest of your post, what does it have to do with anything I said? If English is your first language (as you seem to imply), it makes me sad...
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Quote from fkbsuhites:

are you referring to the same SEC that gave Madoff a clean sheet to keep in stealing?

you do realize the SEC is a running joke? its only job is to act as a revolving door into the den of thieves called wall street.

we can try grunts and groans next time?
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Against my better judgement and my promise to stop responding, I'll say just one more thing...

Why do you insist on engaging in straw man arguments? You seem intent on refuting statements that I never made. When did I ever say that the SEC is good or bad, that it does its job well or poorly? All I did was respond to your specific (and incorrect) assertion that the Fed "sets the rules of the ABS mkt". I also pointed out other factual inaccuracies in your claims.

You can try whatever grunts and groans strike your fancy. It won't help, methinks, since you appear to be talking to an imaginary person, not me.
 
The fact is you got antsy when I stated "the fed" should be abolished.

Are you trading from Haifa?





Quote from Martinghoul:

Against my better judgement and my promise to stop responding, I'll say just one more thing...

Why do you insist on engaging in straw man arguments? You seem intent on refuting statements that I never made. When did I ever say that the SEC is good or bad, that it does its job well or poorly? All I did was respond to your specific (and incorrect) assertion that the Fed "sets the rules of the ABS mkt". I also pointed out other factual inaccuracies in your claims.

You can try whatever grunts and groans strike your fancy. It won't help, methinks, since you appear to be talking to an imaginary person, not me.
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Quote from krazykarl:

"best" is always subjective. There is no perfect system. Be thankful we're not at 30% unemployment nationally. This is not rocket science: we had some bubbles and a decade of good years: the markets need to correct for that. Wealth needs to transfer. Take a Xanax and chill out.
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you can't be serious

you do realize income tax pays interest on printed dollars to Private FED owners

and goods/services tax supports the country

you ought to take a dose of education
 
Quote from AloAlo:

you can't be serious

you do realize income tax pays interest on printed dollars to Private FED owners

and goods/services tax supports the country

you ought to take a dose of education
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The private fed owners are the member banks. That fact aside, you do realize those printed dollars that are recycled in the form of taxes have a malleable real value? You are the one that needs the education.
 
Quote from Daal:

So the fed thought they were exempt from FOIA in that case. Whats the big deal?The government does this all the time(and they should), do you really think there should be sites called www.keyiraqmilitarybases.gov www.emergencyCIAplansduring911repeats.gov

Its debatable whether they should reveal this and of course it needs to be solved in a justice court(Not in a gold mining stocks forum). There is no conspiracy here
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Agreed. There are actually a handful of divisions that make up the FED: some are 100% private, some are parts of the govt. People seem to conveniently forget when making asinine arguments that the federal reserve isn't a single entity, more like a trade group made up of some committees and subsidiaries.
 
Quote from krazykarl:

The private fed owners are the member banks. That fact aside, you do realize those printed dollars that are recycled in the form of taxes have a malleable real value? You are the one that needs the education.
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you'll be in for education soon my friend

when we the uneducated masses see that milk costs 8 bucks

you will get education from us, education with bullets

don't believe me ?

that's fine :cool:
 
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