Re: OT: Miguel you might like this

On Nov 11, 5:49 pm, John LaCroix <John.L.LaCr...@xxxxxxxxx> wrote:
On Nov 10, 9:42 pm, Wollybird <wollyb...@xxxxxxxxxxxxxxx> wrote:

On Nov 10, 1:36 pm, John LaCroix <John.L.LaCr...@xxxxxxxxx> wrote:

I just stumbled on this link and thought of you:

http://www.justiceplus.org/bankers.htm

I kinda see the point of some of your anit-banking arguments. I would
be interested in what the flip side argument would be.

John L.

The flip side is,  I had a hard time finding an accurate statment in
the half of the artilce that I read.

Are the basic details on how the Federal reserve was created correct?
Did it really transfer authority away from the Congress? Any idea on
what the growth curve of the national debt would have looked like had
the Fed not been created?

John L.

The Treasury issues public debt, not the Fed. Hence Treasury notes,
bills and bonds. The Fed was created by congress in 1913, who has
oversight authority over the Fed. Congress still has the authority to
set the debt limit of the US Govt
If you look back over the 19th century, you will see a major
depression every 20 years or so a recession every 3-4 years. The Fed's
role is to regulate the supply of money in an effort to keep it
somewhat in line with the supply of goods and services-( we just had a
gigantic contraction) in an effort to ameliorate this. it does this by
open market transactions and setting the short term fed funds rate. It
also conducts safety and soundness exams on state chartered banks who
are Fed members (banks who keep reserves with the fed and are allowed
to borrow short term) It isn't a public corporation, it's an agency of
the US government.
So the total public debt is more a function of the Treasury selling
debt instruments to fund budget deficits run up by the executive and
legislative branches. You should probably look at it in terms of
constant dollars (adjusted for inflation) in relation to gdp. You can
google this if you wish I do think it's out of kilter, myself. I
prefer a thrifty government. Oh well.
This pastor you linked to is a major wing nut. I mean a end of times,
white supremist, anti semitic, McCarthy lov'n boob from Phoenix, so
you just got his take. I don't know why one would consult a pastor on
these matters, at any rate. Same reason people consult guitarist on
health matters I guess.
http://books.google.com/books?id=-qIb0IuQlkUC&pg=PA93&lpg=PA93&dq=Sheldon+Emry&source=bl&ots=z97lHil_1M&sig=Q07i5l6FzPMDPjtjCwNtdY8vj-Y&hl=en&sa=X&oi=book_result&resnum=9&ct=result
.

Relevant Pages

  • Re: MSNBC Greenspan
    ... The Fed does not issue the Treasury Bonds that create our National Debt. ... The Fed has neither authority nor involvement in that process. ... not to the Federal Reserve. ...
    (misc.news.internet.discuss)
  • Re: MSNBC Greenspan
    ... The Fed does not issue the Treasury Bonds that create our National Debt. ... The Fed has neither authority nor involvement in that process. ... not to the Federal Reserve. ...
    (misc.news.internet.discuss)
  • Re: Economic Collapse Of 2008 An Inside Job
    ... involvement in the coming economic collapse of 2008. ... And this is how the U.S. Treasury would handle an economic collapse. ... the marketplaces as a de facto repudiation of debt. ... declaration of force majeure on debt service. ...
    (misc.invest.stocks)
  • Economic Collapse Of 2008 An Inside Job
    ... involvement in the coming economic collapse of 2008. ... And this is how the U.S. Treasury would handle an economic collapse. ... the marketplaces as a de facto repudiation of debt. ... declaration of force majeure on debt service. ...
    (misc.invest.stocks)
  • coming economic collapse of 2008
    ... involvement in the coming economic collapse of 2008. ... And this is how the U.S. Treasury would handle an economic collapse. ... the marketplaces as a de facto repudiation of debt. ... declaration of force majeure on debt service. ...
    (alt.politics)