Fed Wants to Issue It's Own Debt
Submitted by Maitski on Wed, 12/10/2008 - 07:15
The Fed is reported to be discussing the idea of issuing it's own debt. Can you see the huge problem here? They would have the power to burden the taxpayer with unlimited debt and they would be accountable to no one.
I know we have run up the debt to insane levels but at least currently we can vote the Congress out of office if we wanted to.
This is just plain nuts.
Here's a link to Karl Denniger's column on this where he has a link to the Wall Street Journal story. Karl Denniger has become a "must read" writer for me. Take time to read a few of his old posts and I think you will learn quite a bit.
http://market-ticker.denninger.net/archives/682-FLASH-Get-Th...
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Bank Run?
Is the Fed trying to create a way to loan directly to banks who experience a bank run? From what I know a bank who is low on cash or rather has too much cash taken out and thus is on the opposite side of the reserves are required to raise cash by either selling assets, merging with another bank (for their assets), or borrowing. Is the Federal Reserve afraid of the bank run and thus trying to setup a mechanism where the bank can get a quick loan for the cash they need? Not sure quite how that all works. But is the Federal Reserve truly trying to make themselves be the lender of last resort?
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WTF?
Here is something else on this topic.
http://jessescrossroadscafe.blogspot.com/2008/12/is-fed-taki...
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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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Time to quit our jobs and
Time to quit our jobs and dance in the streets for a month. That'll show 'em!
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Attention Truthers: Get help now!
http://www.webmd.com/mental-health/paranoid-personality-diso...
http://www.lifescript.com/Life/Relationships/Also-in-relatio...
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"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore
newsletter writer
Tom O'Brien is a financial commentator and trader. I first heard Ron Paul on Tom's talk radio show around year 2000. Ron Paul was interviewed several times a year. Tom also had Edwin Vieira interviews, though not as many recently. www.tfnn.com
Part of today's newsletter:
The Broad Market
The NASDAQ went over the Monday high with about the same volume and the Dow and SPX pulled back with lighter volume. All the ABC structures are in place.
We had the Orient up big time once again, they’re leading our markets
higher.
We have gold up $25.00 this morning. The cat is out of the bag, the Fed is thinking of issuing debt. It’s not enough that they can just print and create money out of thin air, they now want to create debt to create more paper.
That is not only over the top, it has unleashed the hard asset market. The
question would be: Why does the Fed want to create debt?
I don’t think they have the authority to do such a thing, but this would be a perfect time for the Fed to float such an idea. When there is so much fear in this country, their goal of course is to control every aspect of society. Don’t let them get away with it folks.
The price projections for the ABC’s are:
SPX - 970.00
NASDAQ - 2,638.00
Dow - 9,500.00
http://FlipFlopRomney.blogspot.com
I saw this earlier and
I saw this earlier and almost fell out of my chair. We all know that FRNs are debt, but the sudden and ever-increasing audacity of this organization is what troubles me greatly.
The average person has no idea of the implications that will result from this.
http://www.federalfallacy.com
http://federalfallacy.com
We will live to see the end
We will live to see the end of the Federal Reserve, it will kill itself.
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Only
to be replaced by something worse. I hope I'm wrong about that.
Sometimes...
It sucks being right.
"Moreover, as America becomes an increasingly multicultural society, it may find it more difficult to fashion a consensus on foreign policy issues, except in the circumstances of a truly massive and widely perceived direct external threat."
"But, indeed, no private person has a right to complain, by suit in court, on the ground of a breach of the Constitution. The Constitution it is true, is a compact, but he is not a party to it."
There is nothing to replace
There is nothing to replace it with...if the monetary system itself collapses what will they build upon....they have nothing. The only thing that can bring stability back to this system is a return to sound money.
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Yes and no. They don't have
Yes and no. They don't have nothing. What they have is opportunity. The opportunity they have been seeking. This where they try to enforce International currency.
"Moreover, as America becomes an increasingly multicultural society, it may find it more difficult to fashion a consensus on foreign policy issues, except in the circumstances of a truly massive and widely perceived direct external threat."
"But, indeed, no private person has a right to complain, by suit in court, on the ground of a breach of the Constitution. The Constitution it is true, is a compact, but he is not a party to it."
You miss the point, they
You miss the point, they have no other foundation upon which to build but the fiat monetary system, it is now in the process of collapsing. The only reason a fiat monetary sytem worked in the first place, as history shows, is because it is piggy-backed on a sound monetary system and is introduced through that system. They will have no such foundation on which to introduce anything. When this system, and the economy it supports collapses there is nothing else upon which to build, no monetary mechanism to use that would bring it out of a collapsed state, that is why everything a fiat system fails societies must return to a sound monetary system to restore stability...they simply have nothing else.
We have been living under an International Currency System for the last 38 years, it is called Fiat Money and it is a global system that was imposed upon the peoples of the world. Read the writings of Dexter White and John Maynard Keynes, they discussed a single global currency but came to the conclusion that they could accomplish the very same thing by transforming every global currency into a fiat system. You and I have not been using a Sovereign United States currency system we call the U.S. Dollar, we have been using a Global Currency called Fiat Money with the name Federal Reserve Note.
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
They replace it with a new
They replace it with a new currency they dream up, and you will accept it or be staring at the barrel of a gun.
http://www.federalfallacy.com
http://federalfallacy.com
How can they replace it,
How can they replace it, there is nothing that will bring about stability over a long term but gold and silver. You should have had your guns aimed back in 1971, that is when a truly Global International Single Currency was introduced in this County. We stopped using a Sovereign Currency when it became total Fiat Money, known as the Federal Reserve Note. This country hasn't had a United States Dollar for decades and we now fear a single currency, what do you think we have been using. The names are different from country to country to solely fool the people into thinking their money is somehow different than all the rest, but the truth is that they are all a single currency, single monetary system called Total Fiat Money.
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
Never looked at it that way.
Never looked at it that way. Good points.
http://www.federalfallacy.com
http://federalfallacy.com
Wait a minute the fed
Wait a minute the fed already issue's it's own debt it's called FRN's
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
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End The Fat
70 pounds lost and counting! Get in shape for the revolution!
Get Prepared!
I think the difference is that up until recently
the US government initiated the process by asking for the printing. Now the Fed wants to do away with that process where they can initiate the process themselves.
Is anyone really shocked by
Is anyone really shocked by this turn of events? I mean when a group of people are so utterly blinded by the very system that they maintain should we not expect such measures to be implemented. What this demonstrates, of course, is that there is a systemic problem that cannot be repaired and they are now grasping at any straw they feel with sustain it until they can find, at least in their minds, a solution.
The dull knife of hyper-inflation will scrape away at the flesh of our society leaving little but a raw oozing scab of barbaric chaos...ready yourselves Patriots, ready yourselves!
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes
I agree
This whole financial bailout is an unprecedented and dangerous move.
I agree
This is a huge shift in policy. However, according to a RP video they actually started injecting money into foreign economies without asking Congress about a month ago.
It just goes to show who really runs this country now.
Their masters have been
Their masters have been running the country for a very long time. That they are becoming so blatant in their abuses is a sign that they believe they can get away with it. Sadly, it seems they can. Who, among those in Congress who aren't members of the CFR, has the spine to stand up to them? A lot of citizens are willing but unsure how to proceed. Perhaps as food becomes scarce and expensive, more people will wake up and the path will become clear.
Pat
BOHICA!!
Pat
BOHICA!!
God Rot Them
God Rot Them All.....
http://www.1776solution.blogspot.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre (1886-1912)
http://militantjeffersonian.com
"Men do not willingly read unpalatable truths of themselves. The People like those best who fool them most, by pandering to their vices and flattering their foibles" Raphael Semmes