What was the point of the federal reserve? | Page 2 | TigerDroppings.com

Posted byMessage
ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
8801 posts

re: What was the point of the federal reserve?


quote:

Of course the Federal reserve has more ties to the federal government than Fed Ex.


All flaming aside, what does your earlier FedEx/Fed Reserve comment have to do with:

quote:

To the OP, the Federal Reserved was created to enslave us with debt.


You don't really believe that do you?






Back to top
  Replies (0)
TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16928 posts

re: What was the point of the federal reserve?


quote:



You try to falsify my statement using GDP as evidence .


I had to go back to reread your post to see how that didn't apply.

You're a moron.

You could have just said "the industrial revolution happened without a central bank". I'm glad to know that you only think factory jobs are economic production.






Back to top
  Replies (0)
LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82841 posts

re: What was the point of the federal reserve?


quote:

Really?
Yes, really.

quote:

You made a smart arse response intending to show the Federal Reserve is essentially a part (sic, again!) of the government..
No, I didn't. I made a very intellectual response proving that the Federal Reserve is linked to and controlled by the federal government in ways Federal Express is not, contrary to your first post.

quote:

the comment about it being no more federal than Federal Express wasn't exactly supposed to be taken literally.
Since this thread is at least the third time I've seen you make that same statement, it has gone way past the realm of sarcasm. It's clear in your mind (sic) that you actually believe the Federal Reserve is completely independent of the federal government's control. It isn't. The Fed's existence, both currently and in the future, is 100% dependent on congressional acts. The Fed's two legal mandates which it must adhere to are required by the federal government.






Back to top
LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82841 posts

re: What was the point of the federal reserve?


quote:

You try to falsify my statement using GDP as evidence
No, I didn't. I used GDP per capita in inflation adjusted terms. That seems to me to be a very good measure of "growth and increases in productive capacity."

But since I'm obviously wrong about that, what metric would you prefer to use to measure "the most growth and increases in productive capacity in American history"?

Please teach me, my macro-economic master.



This post was edited on 12/3 at 11:55 am


Back to top
wickowick
LSU Fan
Head of Island
Member since Dec 2006
23748 posts

re: What was the point of the federal reserve?








Back to top
  Replies (0)
LSU0358
LSU Fan
Member since Jan 2005
5222 posts

re: What was the point of the federal reserve?


The stated mission of the Federal Reserve is to control unemployment and inflation.

The FOMC members estimates of long-run normal range normal unemployment range from 5.2 to 6% (Sept. 2012 SEP projections). This is currently 2 to 2.5 % below current levels. When unemployment gets to the 5-6 level IMO, look for the QE train to end.

The inflation goal is 2% (Remarks by Bernanke at New York Economic club in Nov. 2012).



This post was edited on 12/3 at 11:57 am


Back to top
  Replies (0)
LSU0358
LSU Fan
Member since Jan 2005
5222 posts

re: What was the point of the federal reserve?


quote:

The Fed's existence, both currently and in the future, is 100% dependent on congressional acts. The Fed's two legal mandates which it must adhere to are required by the federal government.


Don't know if you've mentioned that the President chooses the Chairman or not. But this is a biggy as well.






Back to top
  Replies (0)
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

Since this thread is at least the third time I've seen you make that same statement


Whao whoa what?

That is the very first time in my life I've said that comment about the Fed and Federal Express.

Please show me one other time I've ever said that? Oh you're a liar and shite head.. that's what I thought.

Stop trying to paint the Fed in a bright light. Do we vote for the men in Congress? How about the guy in the White House? Do we vote for anyone that runs the Fed? No.

Maybe if you took a breather from your online forum career to learn instead of trying to be a hero on here you would know who controls the Fed.

LINK



This post was edited on 12/3 at 12:05 pm


Back to top
NC_Tigah
LSU Fan
Member since Sep 2003
52803 posts

re: What was the point of the federal reserve?


quote:

Whao whoa what?

That is the very first time in my life I've said that comment about the Fed and Federal Express.

Please show me one other time I've ever said that? Oh you're a liar and shite head.. that's what I thought.
Dude!

You've consistently implied the Federal Reserve is completely independent of the federal government's control. Surely you realize that. There's the point of reference.

FWIW, you seem to habitually stumble into arguments with folks involving their areas of expertise. So do you have the foggiest clue as to Russian's background?






Back to top
LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82841 posts

re: What was the point of the federal reserve?


quote:

That is the very first time in my life I've said that comment about the Fed and Federal Express.
Fair enough. In that case I've confused you with another ignorant poster on this board who has used that comparison several times.

quote:

Stop trying to paint the Fed in a bright light.
Where in this thread have I tried "to paint the Federal Reserve in a bright light"? (Which doesn't even make sense, btw.)

quote:

Do we vote for the men in Congress?
Yes, and the women, too.

quote:

How about the guy in the White House?
I didn't vote for him.

quote:

Do we vote for anyone that runs the Fed?
We also don't vote for the Supreme Court justices so in your opinion are they also not part of the federal government?

quote:

Maybe if you took a breather from your online forum career to learn instead of trying to be a hero on here you would know who controls the Fed.

LINK


Here we have a link to another of your paranoid authors who doesn't know what he's talking about. He has several factual errors just in the first few paragraphs, including the shareholder structure of the Fed's owners, just like that link you gave last week on treasury debt that I debunked and which you ran away from when I bitch-slapped you with facts.












Back to top
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:


You've consistently implied the Federal Reserve is completely independent of the federal government's control. Surely you realize that. There's the point of reference.


Haha, except LSURussian specifically said I made that statement about the Federal Reserve and Fed Ex at least 3 times.. which I have not.

And the Federal Reserve IS completely independent from our federal government. No no.. I'm not wrong. It is totally independent from our federal government. No gray area.







Back to top
HempHead
Alabama Fan
Appalachia
Member since Mar 2011
15943 posts

re: What was the point of the federal reserve?


quote:

It is totally independent from our federal government. No gray area.


I am no fan of the Federal Reserve, or central banking in general, but this is false.

Congress could shut down the Fed tomorrow, if they so choose. They just delegated the responsibility of issuing currency to a third party.

ETA: Not to say that they don't have a broad range of discretion without Congressional approval, but to say they are completely independent is not correct.



This post was edited on 12/3 at 12:52 pm


Back to top
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

just like that link you gave last week on treasury debt that I debunked and which you ran away from when I bitch-slapped you with facts.



You mean the link you refused to watch.. oh yeah, that one. You're an arrogant prick.

The Federal Reserve is independent from the federal government. Argue all you want, but it is independent. I can't believe you're even arguing this..






Back to top
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

TA: Not to say that they don't have a broad range of discretion without Congressional approval, but to say they are completely independent is not correct.


Actually it is correct. The Federal Reserve is independent from the U.S government.



This post was edited on 12/3 at 12:54 pm


Back to top
HempHead
Alabama Fan
Appalachia
Member since Mar 2011
15943 posts

re: What was the point of the federal reserve?


quote:

Actually it is correct. The Federal Reserve is independent from the U.S government.


I realize that their decisions are made independent of Congressional input. This is not disputed.

This does not exclude the fact that Congress has the authority to abolish the Federal Reserve System.






Back to top
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:



I realize that their decisions are made independent of Congressional input. This is not disputed.

This does not exclude the fact that Congress has the authority to abolish the Federal Reserve System.



The Federal Reserve fulfills its public mission as an independent entity. Congress can abolish it, but they can't even audit them.. the Fed is controlled and run by the international banking cartel.






Back to top
HempHead
Alabama Fan
Appalachia
Member since Mar 2011
15943 posts

re: What was the point of the federal reserve?


quote:

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


Yes, they can. A fuller, more extensive audit could be pushed by Congress. Rep. Paul's bills made a bit of headway in the House on this matter.

There is also the GAO audit that occurs, but I don't really trust them terribly much.

The Fed's existence is dependent on Congress' satisfaction with their role in the economy.






Back to top
LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82841 posts

re: What was the point of the federal reserve?


quote:

And the Federal Reserve IS completely independent from our federal government. No no.. I'm not wrong. It is totally independent from our federal government. No gray area.



Wow! Just wow!






Back to top
mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

The Fed's existence is dependent on Congress' satisfaction with their role in the economy.


You're smart enough to know that is bullshite, but technically Congress could abolish the Fed if they were compelled to do so.

It's still a fact that the Federal Reserve is independent from the government. The majority of people think its what the name implies, that it is in fact a federal entity. I understand there is some federal oversight.



This post was edited on 12/3 at 1:11 pm


Back to top
  Replies (0)
LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
82841 posts

re: What was the point of the federal reserve?


quote:

You mean the link you refused to watch..
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 corrections.

quote:

The Federal Reserve is independent from the federal government. Argue all you want, but it is independent. I can't believe you're even arguing this..
Keep repeating it. You're proving my point about you every time you do.






Back to top


Back to top