[drgonzo]

Originally Posted by StellarKnight

No, the ballsy statement is for you to make things up then ask ME to prove them for you.

Doesn't take balls to bull****...

[TheSilentAssassin]

Originally Posted by yesme

That's a ballsy statement on number 1 sir.

Most of our debt is held by funds, but who exactly owns the majority of shares in each of those funds?

What banks own the most % of the fed reserve and do those banks have foreign backers?


please provide source's, thanks.

Debt held by private foreign investors =/= Debt held by sovereign foreign nations

[benji25]

Originally Posted by TheSilentAssassin

Debt held by private foreign investors =/= Debt held by sovereign foreign nations

Debt is still debt and is owed to those who own it. As long as it is external who gives a crap who it is owed to?

[licence2kill]

The federal reseve is part of the executive branch and not owned by anyone.

Feel free to laugh at yesme's sutpidity.

[licence2kill]

Originally Posted by yesme

Great, so why don't you econ whiz kids tell us when the recovery is going to start?

Start with us here, then tell us about the recovery in europe and japan.

I'll be waiting whiz kids.

It'll start when the central banks stop choking their economies with tight money.

[benji25]

Originally Posted by licence2kill

The federal reseve is part of the executive branch and not owned by anyone.

Feel free to laugh at yesme's sutpidity.

No sir.

The Federal Reserve, like many other central banks, is an independent government agency but also one that is ultimately accountable to the public and the Congress. The Congress established maximum employment and stable prices as the key macroeconomic objectives for the Federal Reserve in its conduct of monetary policy. The Congress also structured the Federal Reserve to ensure that its monetary policy decisions focus on achieving these long-run goals and do not become subject to political pressures that could lead to undesirable outcomes. So, members of the Board of Governors are appointed for staggered 14-year terms and the Chairman of the Board is appointed for a four-year term. Elected officials and members of the Administration are not allowed to serve on the Board.

[licence2kill]

Yes it is. The president appoints all the board members.

[benji25]

Originally Posted by licence2kill

Yes it is. The president appoints all the board members.

Just because the president appoints people does not make it part of the executive branch of the government. The president appoints justices to the supreme court and they are the judicial branch. So by your token the Fed is part of the judicial system.

[licence2kill]

Dude, it's an independent agency under the executive branch.

[benji25]

Originally Posted by licence2kill

Dude, it's an independent agency under the executive branch.

The only group it "reports" to is congress. Which is the legislative branch. They aren't even really "under" them either.

Straight from their website:
The Federal Reserve is accountable to the public and the U.S. Congress. The Fed has long viewed transparency as a fundamental principle of central banking that supports accountability. In the area of monetary policy, the Federal Reserve reports twice annually on its plans for monetary policy. In addition, the Chairman and other Federal Reserve officials often testify before the Congress.

[yesme]

Originally Posted by TheSilentAssassin

Debt held by private foreign investors =/= Debt held by sovereign foreign nations

Right, so if most of our debt is held by shell corps/funds under the boot of North Korea, then no big deal correct?

[yesme]

Originally Posted by licence2kill

The federal reseve is part of the executive branch and not owned by anyone.

Feel free to laugh at yesme's sutpidity.

Again for dimwit.....

The 12 regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation's central banking system, are organized similarly to private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

How much foreign ownership in these banks that have fed stock?

Or hell better yet, give me a breakdown on EVERY bank that owns stock in the fed, what % they own, just to start.

then we can worry about ownership in the individual banks.

Since it is part of the federal government, surely SOMEONE knows these answers correct?

[yesme]

Also 5 of the 12 FOMC members are NOT picked by our great leader.

[licence2kill]

No, all 12 are. But only 7 sit on the board at one time.

[yesme]

So let’s review:

1. The Fed is privately owned.

Its shareholders are private banks. In fact, 100% of its shareholders are private banks. None of its stock is owned by the government.

2. The fact that the Fed does not get “appropriations” from Congress basically means that it gets its money from Congress without congressional approval, by engaging in “open market operations.”

Here is how it works: When the government is short of funds, the Treasury issues bonds and delivers them to bond dealers, which auction them off. When the Fed wants to “expand the money supply” (create money), it steps in and buys bonds from these dealers with newly-issued dollars acquired by the Fed for the cost of writing them into an account on a computer screen. These maneuvers are called “open market operations” because the Fed buys the bonds on the “open market” from the bond dealers. The bonds then become the “reserves” that the banking establishment uses to back its loans. In another bit of sleight of hand known as “fractional reserve” lending, the same reserves are lent many times over, further expanding the money supply, generating interest for the banks with each loan. It was this money-creating process that prompted Wright Patman, Chairman of the House Banking and Currency Committee in the 1960s, to call the Federal Reserve “a total money-making machine.” He wrote:

“When the Federal Reserve writes a check for a government bond it does exactly what any bank does, it creates money, it created money purely and simply by writing a check.”

3. The Fed generates profits for its shareholders.

The interest on bonds acquired with its newly-issued Federal Reserve Notes pays the Fed’s operating expenses plus a guaranteed 6% return to its banker shareholders. A mere 6% a year may not be considered a profit in the world of Wall Street high finance, but most businesses that manage to cover all their expenses and give their shareholders a guaranteed 6% return are considered “for profit” corporations.

[yesme]

Originally Posted by licence2kill

No, all 12 are. But only 7 sit on the board at one time.

The private banks also have a voice in regulating the nation’s money supply and setting targets for short-term interest rates, but it’s a minority voice. Those decisions are made by the Federal Open Market Committee, which has a dozen voting members, only five of whom come from the banks. The remaining seven, a voting majority, are the Fed’s Board of Governors who, as mentioned, are appointed by the president.

http://www.factcheck.org/2008/03/fed...ank-ownership/

Of the 12 voting members of fomc, 7 are appointed, five come from the regional banks and are NOT appointed by the president.

Source for ANYTHING that says otherwise please.

[Space Pope]

So where does the metal chair enter into it?

[yesme]

Originally Posted by Space Pope

So where does the metal chair enter into it?

anything but stupid one liners to add or just tired of jerking off to gay porn tonight?

[AlphaNeo36]

Originally Posted by benji25

Just because the president appoints people does not make it part of the executive branch of the government. The president appoints justices to the supreme court and they are the judicial branch. So by your token the Fed is part of the judicial system.

It seems you aren't aware but you're not arguing with LTK's opinion. Federal agencies, even independent institutions like the Fed, are classified as Executive agencies with a couple exceptions like the Library of Congress. This is how they are viewed in reality.

[TheSilentAssassin]

Originally Posted by yesme

Right, so if most of our debt is held by shell corps/funds under the boot of North Korea, then no big deal correct?

No it doesn't matter because it's just an investment. The most they can do it make a moderate profit from it. We can give our debt to drug lords and terrorists and it wouldn't matter. There is nothing they could do.

What do you think North Korea could do by holding our debt via shell corps?

[AlphaNeo36]

HAHAHA WE GAVE YOU MONEY, YOU IDIOTS!