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Title: Fed - Abolish or Curb? Post by: WhiskeyGirl on December 19, 2010, 09:21:58 AM Quote Dec. 9 (Bloomberg) -- A majority of Americans are dissatisfied with the nation’s independent central bank, saying the U.S. Federal Reserve should either be brought under tighter political control or abolished outright, a poll shows. Is the Fed really a private bank? Independent central bank? A banks that gives $600 billion to another private bank in secret deals? Banks that got AIG pass through money? Unions that get money created out of thin air? Would Bernie Madoff have gone to jail if he was a friend of the Fed? Just have them wish some money into existence for him? What of FOO? Friends Of Obama? How much money has the Fed wished into existence for Obama's friends? Unions? Quote “The Fed had to do extraordinary things to keep us from going into a great depression, and the public doesn't see it this way,” said Lyle Gramley, a former Fed governor who is now senior adviser at Potomac Research Group in Washington. “The last time we had any really severe criticism of the Fed was in the early 1980s, when the Fed was pursuing this brutally tight policy to keep inflation under control.” What 'great depression'? Many, especially seniors never recovered from the 1980's, when the Fed was trying to keep inflation under control. Who caused the inflation? Who did the Fed give money to? Who made money while those on Main Street lost everything due to inflation? Lost jobs? Quote “Public awareness of what the Fed is doing is increasing while public opinion of the Fed is falling,” Bunning said. “Congress must act to rein in Chairman Bernanke and the Fed before they destroy our currency and permanently damage our economy and the financial system.” read more here - http://www.businessweek.com/news/2010-12-09/more-than-half-of-u-s-wants-fed-curbed-or-abolished.html (http://www.businessweek.com/news/2010-12-09/more-than-half-of-u-s-wants-fed-curbed-or-abolished.html) Is it really an independent bank? In my mind, it seems to function more like a political/elitist slush fund - members only. Today, the members seem to include FOO. Maybe they need to end the job rotation that seems to exist between the Fed, Wall Street, Washington, and the Treasury. Inherited privilege? Wealth? Greed? Main Street (especially whites) seemed to get blamed for everything that is wrong in the minority world, while Main Street (especially whites) don't participate in any of the handouts, either from Washington or the Fed. Maybe the Fed is busy during the Obama admin wishing money into existence for community organizations? Unions? Wall St. banks? just my humble opinions |