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To Stiglitz, the core issue is that regional Fed banks, such as the New York Fed, have clear conflicts of interest -- a result of the banks being partly governed by a board of directors that includes officers of the very banks they're supposed to be overseeing.
The New York Fed, which was led by current Treasury Secretary Timothy Geithner during the time leading Wall Street firms like Citigroup, JPMorgan Chase, AIG, and Goldman Sachs were given hundreds of billions of dollars in taxpayer bailouts, presently has on its board of directors Jamie Dimon, the head of JPMorgan Chase.
He's been there for three years. He replaced former Citigroup chairman Sanford "Sandy" Weill.
The tagline of "Nobel Prize winner" has been shown to be a joke of a title, the one 0bama success story, he was able to successfully explode the worthlessness of that prize.
Usury is mathematically impossible to pay in a finite money token system. Run the exponential equation for future worth, and it is evident that at some point, the aggregate debt (principal and interest) will exceed the whole set of available money tokens. After that, it's a gigantic fraud - just like the national debt.
Of course, Congress should never have entered into such a contract. But they can't question the validity of the public debt, according to the 14th amendment - no matter how INSANE.
americans have got to be asking themselves if that federal reserve story (to the senate) is even true. is that all the coverage the press would give this HUGE story? what's up with that?
Jesus, I cannot have a conversation without good faith...
All I am saying is that a poisoned tree bears poisonous fruits...
If a capitalist economist,a person who ...likes money,profit,property,riches,says that something is wrong in the system,then that opinion has credibility...
The pols lead the banks to bad lending,everyone in the bank ierarchy tried to profiteer & the whole system malfunctioned...
Now,everybody tries to be rescued by taxpayers'money...
Nobel prize is awarded 50-50 to capitalists & socialists...Try to find what capitalist Nobel prize winners say...
Well, maybe pop The fed is working hard but there are fighting the collapse. Getting ahead? The don't publish numbers for M3 any more. M2 is on the edge of collapsing. Not expanding like it should.
Last fall I said we were in a liquidity trap. I still say we are in one.
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pop
The fed is working hard but there are fighting the collapse. Getting ahead? The don't publish numbers for M3 any more. M2 is on the edge of collapsing. Not expanding like it should.
