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mises
Joined: 05 Nov 2007
Location: retired
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bacasper
Joined: 26 Mar 2007
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 Posted: Tue Jul 07, 2009 9:45 pm Post subject: |
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That is very depressing. The majority is, in effect, telling the taxpayers they
have no right to know where their trillions of dollars are going.
What happened to all the cries for more transparency of the bailout money?
The system is seriously broken. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Jul 07, 2009 10:12 pm Post subject: |
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Well, what did you expect. Can you imagine an audit? That wouldn't be pretty. And who would audit it? PWC? E&Y? Camon.
The government lent public gold to the fed who then sold (they call it "leased) it on the market to depress gold prices. This, plus the fabrication of capital, the maiden lane (look it up) operations, quant easing and the rest. An honest audit would destroy the currency. Ron Paul is great. But he is also naive. We're past the turning point.
Last edited by mises on Wed Jul 08, 2009 4:37 am; edited 1 time in total |
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bacasper
Joined: 26 Mar 2007
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| Posted: Tue Jul 07, 2009 10:50 pm Post subject: |
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You mean Maiden Lane, right?
Ron Paul is great, but he is still right to pursue this. It is necessary to raise the awareness level. |
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Pluto
Joined: 19 Dec 2006
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bacasper
Joined: 26 Mar 2007
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| Posted: Tue Jul 14, 2009 8:10 pm Post subject: |
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Nancy Pelosi and Barney Frank are holding up a vote on it in the House.
The companion Senate bill, S604, has eight co-sponsors. Time to start contacting those senators.
http://www.youtube.com/watch?v=pZu2oQ77mP0 |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Jul 14, 2009 8:52 pm Post subject: |
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The 60's radicals, now in power, are defending the most undemocratic element of domestic American political economy. Nancy 'Jobs Jobs Jobs' Pelosi is intolerable.
But if they did pass it.. Who would audit it? What would they look for? Would it be like the BS stress tests on the banks? Just another layer of smoke and mirrors.
When Bretton Woods 2 collapses there will be sufficient support for a new currency regime, I assume. But not until then. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Wed Jul 15, 2009 8:55 am Post subject: |
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| mises wrote: |
| The 60's radicals, now in power, are defending the most undemocratic element of domestic American political economy. Nancy 'Jobs Jobs Jobs' Pelosi is intolerable. |
Pelosi, a 60's radical???
Never mind her, I want some of what you are smoking   |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Wed Jul 15, 2009 9:32 am Post subject: |
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She was working her way in the SF dem organization in the 60's. That's about enough for me. But it is irrelevant.
Check out the FT's article on the Fed today. It might make you scream. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Wed Jul 15, 2009 8:36 pm Post subject: |
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| mises wrote: |
She was working her way in the SF dem organization in the 60's. That's about enough for me. But it is irrelevant.
Check out the FT's article on the Fed today. It might make you scream. |
Link? (I went to ft.com, no luck.) |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Jul 17, 2009 10:09 am Post subject: |
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| Washington, D.C. � Congressman Ron Paul (TX-14) is pleased to announce that all 178 Republican members of the House have now signed on as cosponsors of his Federal Reserve Transparency Act, HR 1207. |
http://www.ronpaul.com/ |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Fri Jul 17, 2009 2:20 pm Post subject: |
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| mises wrote: |
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| Washington, D.C. � Congressman Ron Paul (TX-14) is pleased to announce that all 178 Republican members of the House have now signed on as cosponsors of his Federal Reserve Transparency Act, HR 1207. |
http://www.ronpaul.com/ |
yeah, but they also know it has no chance in passing, so doesn't hurt to jump on. |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Fri Jul 17, 2009 2:23 pm Post subject: |
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| bacasper wrote: |
| mises wrote: |
She was working her way in the SF dem organization in the 60's. That's about enough for me. But it is irrelevant.
Check out the FT's article on the Fed today. It might make you scream. |
Link? (I went to ft.com, no luck.) |
yeah, This is the only one I could find but doesn't seem to be the one mises was referring to. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Jul 17, 2009 3:12 pm Post subject: |
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To conspiracy theorists, the Federal Reserve is a dangerous, shadowy and unaccountable organisation � like the Central Intelligence Agency but without the black helicopters.
For more than 200 years, central bank critics have railed about an alleged lack of transparency, a threat to the fabric of the US by un�elected moneymen.
For more than 20 years, Ron Paul, the Texan Republican, has been trying to pass a bill that would audit the Fed�s monetary policy decisions. He says US citizens need to know more about the inner workings of the organisation. But he has had little support.
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http://www.ft.com/cms/s/0/e0d6766a-70c6-11de-9717-00144feabdc0.html?nclick_check=1
The print version of this article made a swipe at antisemitic theories and the like. If you search the FT.com using their search function for "antisemitic" the above article pops up as the first hit, but the word "antisemitic" has been removed from the article. I'd like to think this is because of my early morning and very grumpy letter I wrote explaining, with Mises-esque F-bombs exploding from beginning to end, how this was the final straw for my soon to expire subscription.
Here's how the article looked when I opened my paper:
| Quote: |
| ...against an alleged lack of transparency, a threat to the fabric of the US by unelected moneymen. The wilder attacks are openly antisemitic.For more than 20 years, Ron Paul, the Texan Republican, has been trying to pass a bill that would audit the Fed's monetary... |
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bacasper
Joined: 26 Mar 2007
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| Posted: Fri Jul 17, 2009 7:53 pm Post subject: |
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^ Typical discrediting strategy. Anyone who even possibly think about auditing the Fed has to be some kind of nutjob wacko conspiracy theorist.
Maybe we need T-shirts:
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| Conspiracy theorist and proud! |
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