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The FED has contributed over $100 BILLION DOLLARS to the United States Treasury in the last 2 years.
Please .... go talk about something you don't know anything about with someone even less informed than yourself. You're way over your head here.
Anyone can put out a press release and claim anything. The fact is, there has never been an audit of the FED's books ever, so what part of that fact do you not understand?
These crooks have stolen TRILLIONS .... you present a claim that they contributed 100 Billion? I suggest you break out the calculator.
I posted video testimony from two different FED Chairmen, Greenspan and Bernake admitting their criminal conduct .. refusing to answer where the money goes ... and that no government agency can overrule their decisions (meaning they are above the law) .... if you don't understand what they were saying, just ask. I'll explain it to you. Then, you would not make such silly statements.
Its a shame you wasted all of that time to post information that doesnt dispute what I said..
Again the US Government runs DEFICITS yearly.. Its the US Treasury Department who borrows money from the FED.. If the FED didnt exist to borrow from, then we'd STILL need to borrow to substain the trillion dollar deficits. If we didnt borrow we'd be printing new currency which would cause hyper inflation.
I think we all know that the US Government runs a DEFICIT yearly. I'm not sure if you noticed congress debating this issue or not but the new guys in town are trying to do this for us.
Obviously we need to not run on a deficit, that's the premise of the argument you're trying to refute.
I think we all know that the US Government runs a DEFICIT yearly. I'm not sure if you noticed congress debating this issue or not but the new guys in town are trying to do this for us.
Obviously we need to not run on a deficit, that's the premise of the argument you're trying to refute.
To our continued longevity.
I must say that you really laid into the dangers of banking systems back in the day. I have quoted you often.
You OBVIOUSLY don't understand the system, nor even clear explanations. And I'm really struggling to figure a way to dumb it down any further than I already have.
Maybe this will sink in ..... the FED doesn't have any money to lend. If they did, it might make some sense. But they don't actually give the US Treasury anything. The FED simply takes OUR money created by the US Treasury, and lends it back to us, plus interest. I know that seems crazy .... because IT IS CRAZY.
Why do we need to borrow our own money, and pay some private banker interest to use our own money? I'll tell you how the original idea was sold ....
The claim was, in essence, that Congress and the US Treasury should not be trusted to be responsible with the money .... like a child who's parent needs to control the child's money so it is not spent frivolously. Those congressmen would be irresponsible, and just create as much money as they wanted, whenever they wanted. So, the Federal Reserve was to become the parent, and manage the child's (US Congress) money for them. Of course, they aren't going to do this for free .... they charge interest on each of those dollars they "manage". And, like any good parent ... the FED will take complete control of child's money and assets for safe keeping, and give them the amounts they need from the bank account.
Problem is, the FED has no incentive to limit the child's spending becasue the more they spend (borrow their own money) the more interest the FED gets to charge. So the FED, being totally unconcerned with the welfare of the child's financial health, actually encourages the frivolous spending and borrowing because they get to charge more interest. Even worse, the FED, having total control of the child's bank account, can dip in anytime it wants to, and spend that money .... all in the best interests of the child of course.
In this case, what the child doesn't understand is, the the parent is dipping in and taking large chunks of the child's money for themselves, while having the gall to charge the child interest on even the money they are stealing. And they refuse to tell the child how much they are taking and where it is going ... telling the child that he need not concern himself with such details ... that it's all for the best, and not to worry.
I know exactly how it works...
The Treasury And The Federal Reserve The Department of the Treasury and Federal Reserve work together in an effort to maintain a stable economy. The Federal Reserve serves as the government's banker, processing transactions, such as accepting electronic payments for Social Security taxes, issuing payroll checks to government employees and clearing checks for tax payments and other government receivables.
The Federal Reserve and the Department of the Treasury also work together to borrow money when the government needs to raise cash. The Federal Reserve issues U.S. Treasury securities and conducts Treasury securities auctions, selling these securities on behalf of the Department of the Treasury. Examples of Treasury securities include:
Again the Federal Reserve issues the securities, the government borrows the funds sold.. IF you abolish the FED, this doesnt mean the government doesnt need to borrow money..
I'm not arguing if the FED should be abolished, I'm simply disputing the fact that if you abolish the FED, the US wont be running debts anymore with is ridiculous..
Rep Wright Palman (D-TX):
“In the United States today we have in effect two governments…We have the duly constituted government…then we have an uncontrolled and uncoordinated government in the Federal Reserve System, operating the money powers which are reserved to Congress by the Constitution”.
I see today the FED is the boogie man.. Democrats always need one..
Quote:
Originally Posted by TomJefferson
I think we all know that the US Government runs a DEFICIT yearly. I'm not sure if you noticed congress debating this issue or not but the new guys in town are trying to do this for us.
Obviously we need to not run on a deficit, that's the premise of the argument you're trying to refute.
There was several posters here claiming that if you abolish the FED, there wont be deficits... They think they will magically disappear..
I see today the FED is the boogie man.. Democrats always need one..
There was several posters here claiming that if you abolish the FED, there wont be deficits... They think they will magically disappear..
Since when is Ron Paul a Democrat? If America uses it's money to buy goods from other countries and doesn't have other countries buying enough of our products to balance it, there is by definition a trade deficit.
If we spend more on our citizenry than we pull from them, there is a national deficit. The difference is, we would be printing and monitoring our own money, instead of borrowing it from private bankerswho print the money and lend it to us with interest.
'The issuing power should be taken from the banks, and restored to the people to whom it properly belongs.'
Rep Louis McFadden (D-PA): “Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt.
The depredations and iniquities of the Federal Reserve Board has cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our Government.
It has done this through the defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.
Some people think the Federal Reserve banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”.
Since when is Ron Paul a Democrat? If America uses it's money to buy goods from other countries and doesn't have other countries buying enough of our products to balance it, there is by definition a trade deficit.
If we spend more on our citizenry than we pull from them, there is a national deficit. The difference is, we would be printing and monitoring our own money, instead of borrowing it from private bankerswho print the money and lend it to us with interest.
You figure the Fed spends the money "on our citizenry?" You must be quite happy. Carry on bro. After all, it is Friday evening.
Watch the hot money from the"Federal" Reserve continue to ramp up the cost of food and energy, like today while wages stagnate. It is sickening to still see miss informed people like some on this thread defending the central bankers while they cause mass suffering for poor and middle class people while the mega banks make record profits and if that's not bad enough, the central banker controlled media tells us the economy has been growing since 2009 which is a huge lie.
All of this union or tea party or social safety net being blamed for these debits is a distraction while the central bankers continue to rob most of the world blind and notice how with this attack on Libya that JP Morgan was sent in there setting up western controlled central bank instead of the people's own central bank yet again.
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