Actually, the Fed has finally realized that no matter what it does, nothing is going to help the US's current economic problems. So, it has decided to do nothing and let the chips fall where they may.
http://bottomline.msnbc.msn.com/_new...nd-its-control
Buckle up, Folks. The ride is about to begin.
Actually, it's better that they just stay out of it at this point. Printing more money will only cause higher inflation. They've done enough damage as it is...
~Nemo me impune lacessit~
So, the banks aren't getting the return they were hoping for?
Poor investment prospects is what they apparently created by getting rich quick.
At least they could model the Fed after the Sicilian Mob or some other
black market scheme, anything is better than these meally mouth Chairman's
(key word, 'chair')
who have no vision except retrospect.
We sleep safe in our beds because rough men stand ready in the night to visit violence on those who would do us harm.
George Orwell
Well finally. This will be the mother of all market corrections once they finally stand back and let it crash. Do you think the sheeple will finally vote in new congress critters if we endure a depression?
Yeah... I don't think so either.
Trying to get on the no fly list, one post at a time.
Kind of disingenous for them to say "gave up" seeing as how they are the principle organ responsible for it's failure.
I think "leaving it for dead after a vicious gang rape" is a bit more honest.
That is a great sig line.Originally Posted by Dr. Gonzo GED
Trying to get on the no fly list, one post at a time.
Good because things like printing money that we don't have affects the integrity of the only real source of income this country has...The U.S dollar as a global reserve. When we passed that sorry excuse of a law saying we can print money we don't have countries like china, mexico and alike started looking for ways to get away from using the U.S dollar. I believe in Holland you can not pay for anything in the U.S dollar and no one will exchange it. In mexico some banks won't allow you to deposit the U.S dollar anymore. If you want to buy saudi oil you have to pay in U.S dollar but that is getting looked at by the countries selling and buying the oil.
The Fed -- indeed, the entirety of Keynesian economics -- was created to try to manage the booms and bust cycles of capitalism, to try to moderate the cycle to try to temper the booms so that the busts aren't so terrible to live through.
The problem is, they allowed so many fucking bubbles to form, that this next bust cycle is going to be huge. Indeed, the bigger they are the harder they fall. This mother fucker is about to fail catastrophically. And it could mean the end of capitalism itself.
"That tyranny has all the vices both of democracy and oligarchy is evident. As of oligarchy so of tyranny, the end is wealth; (for by wealth only can the tyrant maintain either his guard or his luxury). Both mistrust the people, and therefore deprive them of their arms." -- Aristotle, Book V, 350 B.C.E
And that is just what the dirty, unwashed hoardes want so they can suck up to the government teat.
“I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”
Yes that is the cover story developed on Jekyll Island in 1910 three years before Congress approved formation the Fed in 1913.
The actual purpose of the Fed was - and is - to shift losses from large banks to the taxpayers.
Wart
I read a surprising statement made by Mittens where he gave Ron Paul credit for sparking his interest in the Federal Reserve.
Wart
Danke! It's there for the taking if anyone reallys want's it.That is a great sig line.
Pun. Intended.
Bullshit. I mean no offense to you alismith but anyone who believes the Fed is going to screw up nothing further is just wrong.
Anyone who believes US taxpayer funds are not going to bail out Europe is wrong(er).
Wart
Wilson knew exactly what the hell he was doing.1. Abolition of private property in land and application of all rents of land to public purpose.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a "national bank" and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States. This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the U.S. of A. is far from a Marxist or socialist nation.
6. Centralization of the means of communication and transportation in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work. Establishment of Industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country by a more equable distribution of the population over the country.
10. Free education for all children in government schools. Abolition of children's factory labor in its present form. Combination of education with industrial production, etc. etc.
http://www.laissez-fairerepublic.com/TenPlanks.html
History has a severe case of stuttering complicated by chronic hiccups.
It always repeats itself and it never fails that something will go horribly wrong along the way.
Direct democracy is a gang rape. Eight men vote to rape one woman and the woman has to accept it because the majority decided that it was ok. A constitutional republic on the other hand is eight men and one woman with a full mag. Think about it for a while until it hurts your head.
1. Abolition of private property in land and application of all rents of land to public purpose.
2. A heavy progressive or graduated income tax.
3. Abolition of all rights of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a "national bank" and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States. This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the U.S. of A. is far from a Marxist or socialist nation.
6. Centralization of the means of communication and transportation in the hands of the state.
7. Extension of factories and instruments of production owned by the state; the bringing into cultivation of waste lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal obligation of all to work. Establishment of Industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country by a more equable distribution of the population over the country.
10. Free education for all children in government schools. Abolition of children's factory labor in its present form. Combination of education with industrial production, etc. etc.
http://www.laissez-fairerepublic.com/TenPlanks.htmlAND NEWT GINGRICH CHARACTERIZES HIMSELF AS A "Realpolitik Wilsonian".
Wart
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