What was the point of the federal reserve? - Page 3 - TigerDroppings.com

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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

LSURussian


quote:


Wow! Just wow!


Emoticons? I thought you were one of the intelligent people here..

Buddy, you can laugh all you want. The Federal Reserve is independent from our government. It is not Federal, even though the names implies otherwise.






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LSU0358
LSU Fan
Member since Jan 2005
5083 posts

re: What was the point of the federal reserve?


quote:

The Federal Reserve is independent from the federal government.


The President of the United States chooses the Chariman. The Fed is allowed to operate/exist by a vote of Congress.

Now, do I think the existance of the Fed amplifies the boom and bust cycle that helps the super rich acquire hard assets at rock bottom prices? Yes.

But everything you don't like about the Fed is allowed by a US Congress that can't/won't/ and hasn't lived within its means for the last 3 decades.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

Jerkwad, I watched it...for 59 seconds. And in those 59 seconds I identified 4 factual errors and then listed them in a reply to you along with the correction


Lie. Just like you lied earlier in this thread about me making that comment three times. When I got off that thread you said to me that you didn't need to watch it because you already knew everything on the topic. Your words, not mine.

quote:

Keep repeating it. You're proving my point about you every time you do.


The Federal Reserve is independent from our Federal Government. Haha. I know that pisses you off. Facts are fun.



This post was edited on 12/3 at 1:15 pm


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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:


The President of the United States chooses the Chariman. The Fed is allowed to operate/exist by a vote of Congress.

Now, do I think the existance of the Fed amplifies the boom and bust cycle that helps the super rich acquire hard assets at rock bottom prices? Yes.

But everything you don't like about the Fed is allowed by a US Congress that can't/won't/ and hasn't lived within its means for the last 3 decades.


I didn't know that I was defending Congress..

All I said was a fact, that the Federal Reserve is independent from our Federal government.







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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


LINK

At 7:40 a question is asked, and Greenspan puts you all to shame.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts

re: What was the point of the federal reserve?


quote:

Congress can abolish it, but they can't even audit them.
Wrong again.

As part of the financial reform laws passed by congress and signed into law by Obama, a provision was passed which included an audit of the Fed. The audit was completed and the results were released to the public and is available online.

You really need to stop making up shite and trying to pass it off as facts.






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LSU0358
LSU Fan
Member since Jan 2005
5083 posts

re: What was the point of the federal reserve?


quote:

I didn't know that I was defending Congress..

All I said was a fact, that the Federal Reserve is independent from our Federal government.


I see you chose to ignore the fact that the President chooses the Chairman.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts

re: What was the point of the federal reserve?


quote:

Jerkwad, I watched it...for 59 seconds. And in those 59 seconds I identified 4 factual errors and then listed them in a reply to you along with the correction



Lie.


Consider yourself bitch slapped.....again.

quote:

The Federal Reserve is independent from our Federal Government. Haha. Facts are fun.






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HempHead
Alabama Fan
Appalachia
Member since Mar 2011
13805 posts

re: What was the point of the federal reserve?


quote:

LINK


A few moments after he asserted that they were independent, he also made the remark that that is the case so long as the President, Congress, etc., are satisfied with their decisions.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

Wrong again.

As part of the financial reform laws passed by congress and signed into law by Obama, a provision was passed which included an audit of the Fed. The audit was completed and the results were released to the public and is available online.

You really need to stop making up shite and trying to pass it off as facts.


That audit the Fed bill isn't all it's cracked up to be.

An excerpt from this article. LINK #

In congressional testimony, Fed chairman Ben Bernanke described the effect of the bill: “What the Audit the Fed bill would do would be to eliminate the exemption for monetary-policy deliberations and decisions from the GAO audit. So, in effect, what it would do is allow Congress, for example, to ask the GAO to audit a decision taken by the Fed about interest rates.” Bernanke is correct when he argues that this would “create a political influence . . . on the Federal Reserve’s policy decisions.”

And wrong again? What was I wrong about the first time. The Federal Reserve is not in our Federal Government, it's independent from it.

LINK

"The Federal Reserve is an independent agency" - Alan Greenspan (Don't want to be rude, but shut the frick up LSURUSSIAN).

At 7:40 in that video you'll hear it, and hear how the Federal Reserve doesn't really have to listen to anyone. These are the words from Greenspan.



This post was edited on 12/3 at 1:30 pm


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GumboPot
LSU Fan
Saints Fan
Member since Mar 2009
23918 posts
 Online 

re: What was the point of the federal reserve?





<---loves these threads.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts

re: What was the point of the federal reserve?


quote:

I see you chose to ignore the fact that the President chooses the Chairman.



He also ignored the fact that the senate must confirm the appointment, which means the senate has the authority to prevent the appointment of the Fed chairman.

He also ignores the fact that the Fed's two economic mandates are part of a law passed by congress.

Mo is really showing his ignorance in this thread. And I thought his "JFK and Lincoln were killed by bankers" thread was a low point for him.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

GumboPot


Yep. I love them too.

I've got the former chairmen of the Federal Reserve saying "it's an independent agency" and yet I'm still wrong. Love internetforumland, full of people that never concede.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

LSURussian


Respond to my last response to you..

Don't quote something someone else said and make it look like you're showing me up. Be a man.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:


He also ignores the fact that the Fed's two economic mandates are part of a law passed by congress.


Kind of like you're choosing to ignore Alan Greenspan saying "it's an independent agency, basically there is no other agency that can overrule actions that we take". From the mouth of the man that ran the Fed... but yeah, I'm the guy ignoring information.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80159 posts

re: What was the point of the federal reserve?


quote:

That audit the Fed bill isn't all it's cracked up to be.

But wait! You said "Congress can abolish it, but they can't even audit them." It can and it did!!!

quote:

(Don't want to be rude, but shut the frick up LSURUSSIAN).









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HempHead
Alabama Fan
Appalachia
Member since Mar 2011
13805 posts

re: What was the point of the federal reserve?


quote:

"it's an independent agency, basically there is no other agency that can overrule actions that we take".


(summarized, not direct)

So long as this is in place, unless there is a feeling from the administration, Congress, etc., that we do something differently....(then the relationship doesn't matter).

That is an explicit admission that the Congress (or the President) could influence Fed policy.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

LSURussian


Dude, you're a spin artist.

You tried to argue that the Fed isn't independent.

I provided proof that it is independent. And from the mouth of Alan Greenspan of all places...

It's too nice of a day to jerk off with you over this, you love to argue and be right.. I literally couldn't have proven it any better, and you still won't concede.



This post was edited on 12/3 at 1:38 pm


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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


(no message)





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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

HempHead


Have a ball fellas. I'm headed outside to enjoy some of the day.

HempHead, you're smart enough to know that what Greenspan was saying is the Fed does what it wants..






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