What was the point of the federal reserve? | Page 4 | TigerDroppings.com

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HempHead
Alabama Fan
Appalachia
Member since Mar 2011
16531 posts

re: What was the point of the federal reserve?


quote:

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


I'm not debating the Fed's independent decision making.

I just balk at the suggestion that it is COMPLETELY independent, and that Congress has no authority to redirect their efforts (or eliminate them).






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ZereauxSum
LSU Fan
Lot 23E
Member since Nov 2008
9107 posts

re: What was the point of the federal reserve?


quote:

Greenspan was saying is the Fed does what it wants..


Greenspan was pretty egotistical. He was also full of it...and so are you if you believe the Fed acts 100% free of confessional/presidential influence.

Enjoy the sunshine outside.



This post was edited on 12/3 at 1:46 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


In your link Greenspan said "the Fed is an independent agency, which means there is no agency of government which can overrule the actions which we take."

What confuses you about that statement? Do you want the Treasury Department, or any other governmental agency, to be able to order the Fed to take certain actions, like it is done Zimbabwe? Do you believe congress is an "agency" of government?

Making independent macro-economic decisions does NOT mean the Fed is not a creation of the Federal government and it can be abolished with a congressional act signed by the president. It can also be altered, restricted or expanded by congressional act.

So once again your numerous statements that the Fed is completely independent of the federal government makes me .






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

ude, you're a spin artist.

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


You said the Federal Reserve is no more federal than Federal Express. I, and others in this thread, have proved you wrong.

That's when you switched tactics and started spinning by claiming the Fed is independent of the federal government, which is also not completely true, as others in this thread have shown.

quote:

and you still won't concede.
I won't concede when I'm correct. Why should I?






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

I'm headed outside to enjoy some of the day.


You always run away when you've been embarrassed by facts. It's what you did in your JFK/Lincoln thread and you're doing it again.

Watch out for those jet contrails. That's the Federal Reserve's way of poisoning your mind into submission.......










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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

<---loves these threads.

I do, too. But it's kind of frightening there are people walking around in our society with the paranoid beliefs of this guy.
Actually, not "kind of" but very frightening.






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

mograyback

quote:

(no message)

Your most intelligent post in this thread.....






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

I just balk at the suggestion that it is COMPLETELY independent, and that Congress has no authority to redirect their efforts (or eliminate them).


Balk all you want.. by definition the Federal Reserve is an independent agency. It is not an official entity of our government. I thought this place was big on definition and concrete fact not the wishy washy stuff. By definition it is independent.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:


I do, too. But it's kind of frightening there are people walking around in our society with the paranoid beliefs of this guy.
Actually, not "kind of" but very frightening.


I'm not sure what your problem is..

The Federal Reserve is an independent agency. I even provided a link with Alan Greenspan saying this in his own words. It's not an official government agency. There is no gray area here, it either is or it isn't. And in this case it isn't. It's not federal. What don't you get? And how am I the one that is wrong?

And paranoid? Chem Trails? Really?

Just because I found it interesting that the only two presidents to print money without going through the banking cartel were shot, doesn't have anything to do with paranoia. It's just an observation of history.

Have I ever talked about chem trails? No. Nice smart arse comment. Seems to me that you're pretty big on degrading me, why is that? You seem to put a lot of effort into trying to paint me in a certain light.



This post was edited on 12/3 at 7:26 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

The Federal Reserve is an independent agency

So you're now saying it IS an agency???

quote:

You seem to put a lot of effort into trying to paint me in a certain light.

You don't need my help to make yourself look stupid. You're doing just fine all on your own.







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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

So you're now saying it IS an agency???


What? When did I deny it's an agency??

This is about whether or not its an entity of the federal government or not, which it is not. Which is not even controversial, it's just a fact. Yet somehow you've managed to argue this fact.



This post was edited on 12/3 at 7:37 pm


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


quote:

When did I deny it's an agency??

When you said the Federal Reserve is no more part of government than Federal Express which is obviously not true.

You are going in circles.







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el duderino III
Texas Fan
austin
Member since Jul 2011
1521 posts

re: What was the point of the federal reserve?


to the OP, or anyone else interested in an easier to understand explanation (including the tinfoil hatters in here who understand about 1% of what they think they understand), this was the blog I was referring to

LINK

I dont agree with everything he says, but it's a pretty useful summation of the process






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ForeLSU
LSU Fan
The Corner of Sanity and Madness
Member since Sep 2003
34760 posts

re: What was the point of the federal reserve?


quote:

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.

The Federal Reserve does not receive funding through the congressional budgetary process. The Fed's income comes primarily from the interest on government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the Federal Reserve System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions. After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury.









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el duderino III
Texas Fan
austin
Member since Jul 2011
1521 posts

re: What was the point of the federal reserve?


just actually read the thread - arguing with the conspiracy theorists is pointless if you let them direct the conversation towards the fed's lack of public control with regards to decision making. To them, merely the fact that they are free to do so is evidence in and of itself that all of their actions are done to benefit the evil banker boogeyman behind the curtain.

instead, I prefer to just end the conversation by asking, "please explain, with factual evidence, why the gold standard or any other alternative monetary system is more advantageous, why deflation is preferable to inflation, and that business cycles did not occur prior to the existence of the reserve system."

of course, it's often the most severely misinformed of them that then attempts to make such arguments, forcing you to either spend hours correcting and refuting posts, or either give up from exasperation. I generally just try to help people who actually want to learn something understand instead of engaging the ones who are absolutely convinced they already do.






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el duderino III
Texas Fan
austin
Member since Jul 2011
1521 posts

re: What was the point of the federal reserve?


although I will say:

at first I was like,
quote:

It's hard to take someone serious when they write as poorly as you do..
damn, I guess I should start actually reading what I've typed before I post it.

then I was like,
quote:

To the OP, the Federal Reserved was created to enslave us with debt.
lol never mind






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


Good post.

Mo is paranoid. That's apparent.

He is also very unknowledgeable as to most macro-economic matters especially those involving monetary policies and central banks.

He doesn't want to learn about those concepts. It would spoil his belief that the reason he is a failure is because "they" have kept him pushed down rather than he is responsible for his own failings.






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:


instead, I prefer to just end the conversation by asking, "please explain, with factual evidence, why the gold standard or any other alternative monetary system is more advantageous, why deflation is preferable to inflation, and that business cycles did not occur prior to the existence of the reserve system."


Is this for real?

So because I know that the Federal Reserve is not an official federal agency, I'm also backing a gold standard?? Where does that come from?

A straight gold standard would create stagflation. I haven't advocated anything in this thread, I've merely stated that the Federal Reserve is not a federal agency.






This post was edited on 12/3 at 8:21 pm


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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: What was the point of the federal reserve?


quote:

Mo is paranoid. That's apparent.


How does acknowledging that the Fed Reserve is not an official entity of the federal government mean I'm paranoid?






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
83699 posts

re: What was the point of the federal reserve?


Look up "straw man argument."

That defines you.






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