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Old 04-24-2011, 09:02 AM
 
8,265 posts, read 11,128,302 times
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The FED can also issue City Data policy statements, like:

"You must spread some Reputation around before giving it to Mircea again"
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Old 04-24-2011, 03:02 PM
 
Location: The North
5,484 posts, read 9,696,849 times
Reputation: 4727
The fact that the President appoints the Chairman means little once he's in the chair. Witness some of the surprising actions of Supreme Court justices contrary to how one would think their appointers would want them to decide. Appointment does not mean control, whereas Cabinet members truly serve at the discretion of the President. Sure the Fed Chair if he goes off the reservation can expect to get replaced at the end of his term, but Presidents tend not to make changes and most Fed directors and chairs retire from their roles and do not get replaced.

What amazes me most is how the public tries to assign a political party and ideology to these pretty much non-political characters all the time. Bernanke was appointed by Bush and is clearly a Republican for political purposes, there is no way around that considering he served on Bush's council of economic advisors. Yet lots of the conservatives want to attach his actions to the whims of Obama and the Democrats. Just watch how he and Greenspan, among others deftly handled Presidents of both parties. They would play nice with them in public and comment on the issues of the day in broad terms that never seem to contradict the sitting President, but in the end they have a different master and that master is economic growth and stability. They don't always get it right, but its comical to hear politicians and pundits try to paint them as some sort of conspiracy theorists.
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Old 04-24-2011, 03:09 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,633,118 times
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Quote:
Originally Posted by unseengundam View Post
I have always found the Federal Reverse system confusing. Does anyone have a simple explanation about they manage the US monetary system? How do they control money, inflation, etc?

Also, just how does the Fed and US government manage to get Trillions of Dollars to spend? Do they just print money out of thin air, like the rumor goes? Or is there some real systemic way money is created by the government to spend?

There is so many bad rumor about Fed and US government creating money, causing inflation, etc it hard to really figure what is going on. It would nice to hear what really is going on and sort all rumors US monetary system.
Yes, lately the Fed has been printing money out of thin air. That is going to be the demise of our entire society. If the Fed announces QE3, it might not be a bad idea to think about getting out of the United States while you still can.
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Old 04-24-2011, 06:32 PM
 
Location: The North
5,484 posts, read 9,696,849 times
Reputation: 4727
Quote:
Originally Posted by bchris02 View Post
Yes, lately the Fed has been printing money out of thin air. That is going to be the demise of our entire society. If the Fed announces QE3, it might not be a bad idea to think about getting out of the United States while you still can.
Can we get you to promise to leave??? Will you take some like-minded folks with you?

The Fed has been "printing money out of thin air" longer than I have been alive. I think I will survive.
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Old 04-26-2011, 08:30 AM
 
Location: Sinking in the Great Salt Lake
13,145 posts, read 20,146,547 times
Reputation: 14041
Quote:
Originally Posted by slackjaw View Post
The FED can also issue City Data policy statements, like:

"You must spread some Reputation around before giving it to Mircea again"
I attempted to issue a reputation point to Mircea as well. Alas, the FED is too powerful...
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Old 05-08-2011, 05:37 PM
 
Location: North of the border!
662 posts, read 1,123,806 times
Reputation: 1302
It's all a house of cards. When is the breeze coming?
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Old 05-09-2011, 03:20 AM
 
4,173 posts, read 3,121,140 times
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Isn't the Guy who wrote "The Creature From Jekyll Island", the same guy who claims that he has radar imagery of Noah's Ark? I suppose his BA in speech and being a "Certified financial Planner" lend him macroeconomic credibility along with his lifetime membership in the John Birch Society.

Apparently he is a medical expert as well, "Griffin asserts that cancer is a metabolic disease facilitated by the insufficient dietary consumption of amygdalin, a view which has been rejected by the medical community." This dude and Tom Cruise could have a really interesting conversation.

"Griffin also advocates the use of Laetrile, a semi-synthetic derivative of amygdalin as a treatment for cancer, often referencing the work of Dean Burk to support the use of Laetrile. Since the 1970s, the use of Laetrile to treat cancer has been described in the scientific literature as a canonical example of quackery and has never been shown to be effective in the treatment or prevention of cancer."
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