I am not. Peter knows a lot about economics and fed policy. What we need to do is have a full audit of the fed.
Fed must capitulate or bear will be brutal says Schiff.
- Thread starter HawktimusPrime
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Monetary policy can't demand inflation. Fiscal policy could, though. Either tax cuts or big spending need to happen, maybe both.
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One also has to look at the goals this group is charged with as well (manage inflation & now unemployment to the best of their abilities and, naturally, to protect their hold on monetary policy) and if they only have so many bullets to fire and it isn't working then they still must protect their hold on monetary policy. That last point/responsibility i listed can cause people to say and do things they otherwise wouldn't.
No it's not, the full results are NOT published, because the Banks that make up the Fed have separate sheets, nor are auditers allowed into the buildings. You can't audit what you can't see. Also if that were true, they wouldn't have needed to put Bernanke in front of the Senate in order to ask him where Billions of dollars were sent out to.
You clearly have no idea what you're talking about.
If they have the best data, then why was there data wrong, and Schiffs and others were correct? Yellen is just not realizing what so many other already said was happening?
You clearly don't know what you're talking about. You're talking out of your arse here.
The Federal Reserve is a COLLECTION of 12 privately owned banks. PRIVATELY owned banks in charge of NATIONAL currency manipulation, creation, and distribution. They are part of the Federal Reserve System, they each take care of their region, but they are no independent of each other in the way you speak. They answer directly to the board of governors.
Also, the Federal Reserve was created when European banking gathered banking Elite here in America and quickly and secretly passed the Federal Reserve Act.Aldrich, Rockefeller, Morgan, were some of the notorious members who's banks helped to form it. Warburg from Europe was also brought in, as was a Rothchild representative in order to help see it through. The Warburgs and Rothchilds in particular wanted a Central Bank in America. Senator Aldrich led the push for it in government, and of course he was all chummy with Rockefeller and Aldrich.
Keep in mind that the Fed now has ownership of $4 Trillion in assets. Seems a bit shady....
The Fed and the rating agencies completely missed the decade leading up to the financial crisis. Is it the Feds responsibility to monitor the economy, debt, liquidity, and publicly traded derivatives ? I'm not sure about that. I am sure it is the rating agencies responsibility to be ahead of these issues. Yet once again they r not. Bottom line is the Fed has sat back and watched the US go into financial disarray more than a few times
You're confusing setting monitary policy and bank regulation. The Fed isn't the primary regulator for most, if not all of the banks that you guys are pointing the finger at for the 2008 collapse
What parts of the Fed's audit standards haven't met objective standards?
Or is the answer that you haven't gotten the desired results?
This is true and despite the Fed supporters, allies, etc. that say this, it's a proven fact that it has NEVER been fully audited. Take this video for example. How can we trust an audit, if Bernanke can't even answer a few questions when pressed? The question by the way is where did $500 Billion dollars go and which foreign country received it. The Federal Reserve when it was brought up, was put together by the most powerful men in the country. Rockefeller, Morgan, Aldrich, were all American elite. Who also all wanted this to happen.
They knew the advantages of having control of the currency would give them. It would make them untouchable and put them in control of how the economy ran. They decide who gets money, how much, and could even lend their other companies money, at an interest rate that they themselves determined.
Is anyone really not understanding the problem with that?
Watch the video I just posted and let's see you spin that one. Tell us why it's okay for them to not tell the American people where $500 Billion went, with the only knowledge being that it went to foreign hands.
Again, you clearly don't understand how this works. You keep trying to play these pitiful arguments but you are getting nowhere.
One of us understands how this works. What parts of the Fed audit standards do not meet the bar for objectivity?
You're asking a purposely misleading and telling question. Stop trying to confine yourself in the parameters of 'policy', and expand to the parameters of what actually happens. If the audit standards meet the bar, then why are they needing to ask where $500 Billion went? Also, to really clarify the situation, tell us if the questions were ever answered.
If they were not, then what does that tell you?
I posted what I posted. I'm sorry that you can't understand the inherent inconsistency of your position. Fortunately, the majority of the board does not have that problem.
Actually my friend Egon collects that stuff. I am the game show host.
I'm not sure why you continue to bother with this idiot, although maybe all you need to do is watch another youtube video!
Tell me how I'm wrong.
You clearly also don't understand how this works.
Also tell me how auditing is done correctly, if they can't even get Bernanke to answer a question while being question directly by the American Government.
Tell us thorne, tell us how this works. No one has even attempted to yet. Set us all straight, let us know why we are wrong.
Nothing will come of your next post. Nothing.
Cmon, I'm asking YOU about what actually happens. This should be simple, enlighten us about the FED's audit standards
No,...you're redirecting and trying to get over on this debate by going around it. Another question for you. Fed Transparency Act,..what was the need for it and when did it pass?
You have the burden of proof when you take the wacky side... if I was making the claims, I'd be prepared to substantiate them. You can't substantiate why the audits aren't sufficient, why the meeting minutes aren't sufficient or really anything.
I'm not the one arguing that the Fed's auditing standards are subpar or non-objective. Your non-existent rationale against the Fed's auditing standards speaks volumes for your (lack of) objectivity on the subject
Did they get there answer? Yes or no? Where did that $500 Billion go? Why did the Federal Reserve Transparency Act ever get proposed? Take this quote for example, and tell me what you see here.
Senator Judd Gregg called the Paul-Grayson amendment "pandering to populism", saying the audit requirements would be detrimental to monetary policy. Gregg added that "It's great PR; you go home and beat up the Fed."
"I strongly oppose Audit the Fed," said Federal Reserve chief Janet Yellen, saying that it would "bring short-term political pressures to bear" on the central bank and dissuade it from making the "hard choices" needed to curb inflation. The central bank's chair, in opposing the idea, said it would "politicize monetary policy.
All that is being asked in the bill is better transparency as to what is going on behind the scenes, and where all the printed money is going. Now why would they have such a problem with this? The reasons are fuzzy at best.
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That was an official hearing in DC. Like Ciggy, you only take facts when they fit your agenda. That is why people like me are always superior in our notions and understanding of Government. We don't take sides blindly and we rely on what actually happens. You just make assumptions and try to get instances to fit your pre-molded view.
Was that an official hearing or not? You're being completely outclassed here and you're acting a lot like a blind GOP supporter. Are you basing all your assumptions on faith? You have shown NOTHING to make your argument valid. NOTHING.
This is the telling statement from you. You agreed with me and then explained that you don't understand what you're talking about.
May I ask who you are voting for by the way? It's a simple question.
Do you think that an 'official hearing' provides an all-encompassing view of truth?
Does someone saying 'yeah we get audited' corroborate the truth? Does refusing to explain where $500 Billion of US national currency seem conscientious?
It's pretty amazing. They are accountable to no one. And, there are plenty of regular citizens (like those in this thread) that, not only defend them, but insist that they're actually doing the citizens and economy so much good! They sell our own treasuries back to us at interest. Then the process of fractional reserve banking occurs and round and round we go.
If we have deflation why is everyone clamoring for an INCREASE in the minimum wage?
