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Please learn more about banking and finance. Your opinions should change drastically as you do.
I lived it. I'm not talking textbook stuff.
The world of finance runs by its own rules, the rules it makes and enforces. When one talks about trillions of dollars then one is talking about a whole different world run by its own ethics. I don't need to be lectured about imaginary worlds of finance according to some textbook or what CNBC spews out.
Think Madoff times one trillion and you have the Central Bank world of finance.
So it was perfectly legal for the Fed to take under it's wing Goldman Sachs as soon as the financial crisis exploded in front of everyone. The same Goldman Sachs of which Hank Paulson had been CEO just before being appointed to the Secretary of the U.S. Treasury. And to prove there's no further shady business by the Feds, the next Secretary of the U.S. Treasury was appointed from his position as the President of the New York Fed. But there's no reason to believe we the public aren't represented in any of this. Right Rey?
The problem is that the public doesn't understand any of it, getting all their "information" from a bunch of partisan magpies. Goldman Sachs for instance did not actually need any TARP money, but was pressured to take some so that market stigma would not come to be attached to those who took the money and did need it. GS paid back all of the money they got as soon as they were allowed to -- less than a year later. GS has also long paid their people enough so that they could afford mid-career sabbaticals to go do a few years worth of public service work at the comparatively pitiful salaries that the federal government pays.
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Originally Posted by NoNansea
And why are you defending the Federal Reserve so intensely Rey? Perhaps you've been assigned as one of their dis-information officers which appointment you accepted in hopes of moving up the ladder within their thieving, dishonest organization?
Hahahaha!!! I've been retired for years. No ladders left to climb. I'm just passing the time here debunking the absolute nonsense that the disinformation media have pumped into some people's heads. In case anyone has forgotten already, the Fed is a US Government agency. Everyone who works there is a federal employee.
The twelve regional banks within the system are owned by a consortium of private banks.
LOL! No, they aren't.
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Originally Posted by rogead
The decisions made by the governing board of The Fed are made for the sake of those private banking interests.
LOL! The Fed's policy missions are to influence monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates.
Quote:
Originally Posted by rogead
The Fed is given authority to make decisions which gravely impact our public and personal economic circumstances, yet it is only minimally responsible to any form of public oversight.
As a federal agency established by Congress, the Fed is accountable to Congress and regularly reports to it.
You'd be much better off with a capacity to. Your posts have come under persistent withering fire because, and as has been repeatedly pointed out, they have predominantly been based on confusion and simple nonsense.
Markets go up and markets go down. There are booms and there are busts. They are NOT in either case a part of any identifiable cycle. The most scatter-brained sorts are those who argue against some remedial action or other by claiming that the situation is all just part of some "normal cycle". There is no normal cycle. There is no abnormal cycle. There is no any sort of cycle at all.
You'd be much better off with a capacity to. Your posts have come under persistent withering fire because, and as has been repeatedly pointed out, they have predominantly been based on confusion and simple nonsense.
Nope. Just real life experience. Some people will simply do anything when it comes to billions of dollars. Anything. And these preople naturally migrate to the top via the selection process. No one at the top desires a whistle blower.
Nope. Just real life experience. Some people will simply do anything when it comes to billions of dollars. Anything. And these preople naturally migrate to the top via the selection process. No one at the top desires a whistle blower.
Actual whistle-blowers raise serious, demonstrable issues. You do not. If any of it at all is factual, your claimed "real life" experience has taught you virtually nothing of any value.
Actual whistle-blowers raise serious, demonstrable issues. You do not. If any of it at all is factual, your claimed "real life" experience has taught you virtually nothing of any value.
Reality? The reality is that you can't bring charges against alleged "factions" or "elites'. You can only prosecute individuals and groups of individuals against whom you can demonstrate a probable cause, and then you need evidence of a personal or localized culpability that goes beyond a reasonable doubt in order to obtain a conviction. In China, they at times simply execute the heads of companies where wrong-doing has been identified. We have a different system.
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