326 responses to “Fed Audit Will Show What They’re Hiding”

  1. Greg

    Sean, I implore you to do some research before shooting off your mouth. True, everyone is entitled to their opinion, but that doesn’t make everyone’s opinion equally valuable. Your opinion is that of an imbecile. Perhaps you could read a little and gather some knowledge before you spout off and show what a fool you are?

    Since you have no understanding of inflation, the theory of the business cycle, or the Federal Reserve, how about doing a little reading on it before running your mouth and illuminating your lack of knowledge to all of cyberspace?

    Here’s a primer:

    http://lewrockwell.com/rothbard/rothbard202.html

    That thread right there will correct you of most of your illusions. If you want to know what Ron Paul believes, you’ll find it in there and other works of the ‘Austrian Economists.’

    Please don’t take my sharp tone the wrong way. If I were to ever act like such a fool, I’d hope someone would straighten me out as quickly as possible as well, by whatever means necessary. I would be grateful even. After you learn a bit, I’m sure you’ll be quite embarrassed by your stupidity which you’ve put on display for the entire world to see. Hopefully you’ll educate yourself a bit and come back here as someone with a valuable opinion to share instead of someone to mock and dismiss.

    »crosslinked«

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  2. kim

    The Fed is the supreme instrument of usury. They pick the winners and losers in this world. They [the Fed] threw the American public a “bone” to chew on to make us happy and somewhat distracted after 9-11, with very low interest rates and banks encouraging easy credit utilization. Like giving an injured child some candy to distract him from his discomfort, this free flowing easing of credit was done to stimulate the U.S. economy and thus offset the destabilizing economic effects created by terrorism. Doing this “dropping money out of helicopters” served two purposes: The “bone” I mention above, and another purpose being the reckless creation of massive wealth for those on Wall Street who were in the position to take full advantage of the easing of credit and massive banking deregulation. This quasi government/ corporate entity known as the Fed, indirectly created the mess we are in today with Alan Greenspan keeping interest rates too low for too long. The obvious and foreseeable result of this was the bubble in housing especially.

    Enter pretty baby Ben who early into his new job, thinks he smells a whiff of inflation in the air and capriciously decides he needs to be proactive and stop inflation before it starts. He raises interest rates 25 times and in doing so “pops” the housing bubble and unleashes a cascade of unintended consequences. In desperation pretty boy Ben (whom I think he is not that handsome– ever notice the reptilian look his lips make when he is talking– sort of like a turtle?), anyway I digress; in desperation Ben baby realizes he screwed up, and tries to stop the Titanic [American economy] from hitting the iceberg by throwing the engines in full reverse, but to no avail. The “Titanic” hits the credit default swap iceberg and as the first casualty, takes out all the Lehman Brothers that were drinking dancing on the deck near the bow. Just imagine what a great movie Hollywood could make if the producers could get the transcripts and e-mails pertaining the back door deals the government, the treasury, the Fed, and the Wall Street gang made to keep this ship from sinking. Ben to Hank; “I know you don’t have any Jewish buddies at Lehman anymore and Goldman will do better if we let them fail, what do you think?” Hank to Ben; “Well, we threw a lifeline to save the Bear, but the world has to know we are not going to save em all– you know– all that stuff they taught us in business school about moral hazard etc.” Hank to Ben; “Yeah, I guess you are right, but don’t look now,– shit– Ben, the credit markets are now frozen solid, damn we probably should have thrown a lifeline to Fuld.” Ben to Hank; “Ooooops!”

    Audit the Goddamn Fed now, so all the truth can be known.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  3. Doulgas

    America has archived its humanitarian goal with only one new lesson to be learned. That lesson is how to properly implement a medium of exchange. This battle goes back to the very cause of the American revolution. Sadly the battle was lost to the Federal Reserve System. This hard lesson will provide the necessary data of why monetary policy must be regulated by the commonwealth of citizens in order to provide a stable economic system.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  4. Doulgas

    A central system of issuing a constitutional medium of exchange is essential to an advanced civilization. How it is represented by the Commonwealth of citizens is in direct relations to products and services currently available.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  5. Doulgas

    The new one is the work of divine conspiracy and forever shall be.

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

  6. JCDP

    Amen. Learn from history so that we won´t have to repeat it.

    I believe that is why the founding fathers were so against a central bank. They wanted to avoid what was happening in Europe (power being concentrated in the hands of a few as opposed to the people), to happen in the US. Look at us now….

    Report this comment

    Like or Dislike: Thumb up 0 Thumb down 0

    1. Doulgas

      This is an important debate. The constitution allows for congress to issues NEW medium of exchange. This is a central government practice that must take place. The issuance of new mediums of exchange must be done within consideration to the commonwealth of citizens represented. Thus their respective economy will not be raped.

      Report this comment

      Like or Dislike: Thumb up 0 Thumb down 0

Leave a Reply