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To be succinct, the Fed Reserve had begun directly responsible for the Great Depression as well as the current 20 year old Great Recession which is on the brink of yet another Great Depression, if not worse. At the very least, the Fed produced three gigantic Bubbles, each being worse than the previous, and all of which have been manufactured after the Glass-Steagall was repealed.
Now one can simply regard the Fed's and other Central Banks' behavior as simply the manifestation of academic retards, but this would give them too much credit. Surely an economy that continues to transfer wealth from the middle class to the top .1 of 1% at an unheard of velocity must be the handiwork of crooks of superlative capabilities. Bernie Madoff on steroids.
The answer is simple. Bring back Glass -Steagell, but watch Yellen pee in her panties at the very mention of ending the Fed's uncontrolled free for all. Nothing will be done until the Fed has successfully wiped out the middle class as they did during the Great Depression.
Alternatively, we can believe the fantastic fantasy that Bankers actually cares about the 99.9%. I hope no one is that naive.
No offense, but what you write is utter nonsense. Point by Point.
* The Fed played a role in the Great Depression because the Fed played from the old playbook and did not intervene.
* The Great Recession was caused by Congressional actions to remove various mechanisms put in place following the Great Depression. Extra loosening or tightening here and there did not great the series of crises faced by the Fed. The Fed saved the system and prevented a second Great Depression.
* The Fed did not create the bubbles of the late 1990s and 2004-6. The Fed must operate under its legal mandate. Its ability to supervise the banking system was very limited. Other institutions had more directed roles but were taken over by politicians utterly ignorant of modern finance (or willfully desirous of self-enrichment--take your pick).
* Your statement on the Fed and Central banks is nonsensical.
* Your next comment is pure conspiracy theory and it and Bernie Madoff has nothing to do with the Fed.
* You want to bring back Glass-Steagall. That is curious since many in the Fed would agree that ending it was among the series of actions taken in the 1990s that unleashed the monster. The Gramm-Leach-Bliley Act. But note that this is a Congressional Act, not an action of the Fed.
* Where on earth do you get that no Glass Steagell equates to the Fed's having a free for all. Do you actually understand how the financial industry functions?
* Yet you persist with this idea that the Fed is wiping out the middle class. Huh? What body sends jobs overseas? incentivized financial misadventures? It is Congress, not the Fed.
* I don;t want bankers to care about me. I want to them to do their best given a sensible set of rules. time and time again, Congress is unwilling to do its job of setting the rules. And in that environment, finance will run amok. While the Fed, like any other institution, is populated by those who operate according to self-interest, most have entered careers of public service. So I will take them over Congress and Wall Street any time and twice on Sunday.
I'm tired of you city slickers on here sticking up for the Rothschild shapeshifting Zionists who've owned America since the days of Andrew Jackson. When Ron Paul finally wins in 2016 (he's gonna, Nostradamus predicted it 500 years ago) we will finally end the Fed. Audit the Fed! Ron Paul revolution '16.
Congress (the government) is just another way of transferring money to the super-rich who are the primary beneficiaries of all trillion dollar governed programs andCongreds couldn't spend diddly-squat (oh yes, they just raised the debt ceiling again) if the Federal Reserve didn't keep buying Treasuries at 0% interest and provide an infinite amount of money for Congress to spend and give to the super-rich.
It is all part of the grand money printing engine for the support-rich who are not being the least bit ashamed anymore about their aim to control all branches of government but most especially the money printing press which controls everything else.
As for bringing back Glass-Steagall, has Yellen ever suggested it? ROFL.
And yes, the Federal Reserve, as the mechanism for transferring wealth and concentrating wealth in the top .1 of 1% worldwide, is behind every single Bubble and Great Depression and Recession. Only v during the period of Glass-Steagall did the middle class grow. Without it, the Banks control the money printing press and who gets all of the wealth.
No offense, but what you write is utter nonsense. Point by Point.
* The Fed played a role in the Great Depression because the Fed played from the old playbook and did not intervene.
* The Great Recession was caused by Congressional actions to remove various mechanisms put in place following the Great Depression. Extra loosening or tightening here and there did not great the series of crises faced by the Fed. The Fed saved the system and prevented a second Great Depression.
* The Fed did not create the bubbles of the late 1990s and 2004-6. The Fed must operate under its legal mandate. Its ability to supervise the banking system was very limited. Other institutions had more directed roles but were taken over by politicians utterly ignorant of modern finance (or willfully desirous of self-enrichment--take your pick).
* Your statement on the Fed and Central banks is nonsensical.
* Your next comment is pure conspiracy theory and it and Bernie Madoff has nothing to do with the Fed.
* You want to bring back Glass-Steagall. That is curious since many in the Fed would agree that ending it was among the series of actions taken in the 1990s that unleashed the monster. The Gramm-Leach-Bliley Act. But note that this is a Congressional Act, not an action of the Fed.
* Where on earth do you get that no Glass Steagell equates to the Fed's having a free for all. Do you actually understand how the financial industry functions?
* Yet you persist with this idea that the Fed is wiping out the middle class. Huh? What body sends jobs overseas? incentivized financial misadventures? It is Congress, not the Fed.
* I don;t want bankers to care about me. I want to them to do their best given a sensible set of rules. time and time again, Congress is unwilling to do its job of setting the rules. And in that environment, finance will run amok. While the Fed, like any other institution, is populated by those who operate according to self-interest, most have entered careers of public service. So I will take them over Congress and Wall Street any time and twice on Sunday.
S.
Thus the Fed is doing its job as a lymph system. It absorbs the abuse while congress helps their campaign contributers do a little looting, or a lot, while they have everyone looking at the Fed puppet show, poring water from one glass into another.
thus the fed is doing its job as a lymph system. It absorbs the abuse while congress helps their campaign contributers do a little looting, or a lot, while they have everyone looking at the fed puppet show, poring water from one glass into another.
I was really encouraged last night when Rand Paul laid into the Fed and all of its secretive shenanigans and watching the real-time CNBC poll shoot up to 90% approval for his comments, the highest approval reassuring that I observed during the whole evening.
The 90% realize that the Fed is stealing their wealth, they just don't know what to do about it.
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