Sarah Palin owns WSJ Reporter.

[Soul Crusher]

They threatened Martial Law remember?   Pelosi/Geithner/Paulson/Bernake etc?  I guess you don't remember that? 

[Option D]

They threatened Martial Law remember?   Pelosi/Geithner/Paulson/Bernake etc?  I guess you don't remember that? 

BUT THEY WOULDNT HAVE TO FREAKIN DO IT IF THEY COULD JUST MAKE THE DECISION TO BAIL OUT AND GO WITH IT...FUCK...

What the fuck are you talking about. Congress still has stopping power on the fed..What the fuck.. i thought you knew that... now someone else get on here and tell me how Congress has no say on what happens in the fed...

[Soul Crusher]

BUT THEY WOULDNT HAVE TO FREAKIN DO IT IF THEY COULD JUST MAKE THE DECISION TO BAIL OUT AND GO WITH IT...FUCK...

What the fuck are you talking about. Congress still has stopping power on the fed..What the fuck.. i thought you knew that... now someone else get on here and tell me how Congress has no say on what happens in the fed...

Mal - you are embarassing yourself horribly.  The congress has little or no say in Fed Policy. 

[Soul Crusher]

Mal - time to wake up and get a clue:

[tonymctones]

dude if congress has very little to do with the fed then why get its permission for tarp and shit.

I didnt say they didnt have much to do with the FED only that they have very little control over it...

if they did wouldnt you think they would be able to see the FED's books like theyve been asking to for a decade now?

[tonymctones]

Mal - you are embarassing yourself horribly.  The congress has little or no say in Fed Policy. 

this was my point mal I think congress helps appoint the FOMC board members or they have to approve them iono I cant remember.

but congress really doesnt have any say in the monetary policy of the FED

Its like saying that an average citizen has say in the legislation that is passed b/c we voted for the representatives...but we really dont have a say in the legislation only who votes on the legislation.

[Soul Crusher]

Mal - take it from the former Fed chairman himself.  But i guess even he is wrong too right? 

[Soul Crusher]

[Option D]

Mal - you are embarassing yourself horribly.  The congress has little or no say in Fed Policy. 

Im embarassing myself because you said.. shut the fuck up...'

The Federal Reserve's ultimate accountability is to Congress, which at any time can amend the Federal Reserve Act. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives, and twice annually on its plans for monetary policy to the banking committees of Congress. Fed officials also testify before Congress when requested.


http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

So to say congress has no power over the fed is retarded.. If they didnt, and i was part of the fed...when congress came callin for a testemony i would tell them "go fuck yourself, you have no power over me"...Get it?

[tonymctones]

Im embarassing myself because you said.. shut the fuck up...'

The Federal Reserve's ultimate accountability is to Congress, which at any time can amend the Federal Reserve Act. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives, and twice annually on its plans for monetary policy to the banking committees of Congress. Fed officials also testify before Congress when requested.


http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

So to say congress has no power over the fed is retarded.. If they didnt, and i was part of the fed...when congress came callin for a testemony i would tell them "go fuck yourself, you have no power over me"...Get it?

from your link mal...

"As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government.""[/i]

again congress has very little control over the FED's policy...

[Soul Crusher]

Im embarassing myself because you said.. shut the fuck up...'

The Federal Reserve's ultimate accountability is to Congress, which at any time can amend the Federal Reserve Act. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives, and twice annually on its plans for monetary policy to the banking committees of Congress. Fed officials also testify before Congress when requested.


http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm

So to say congress has no power over the fed is retarded.. If they didnt, and i was part of the fed...when congress came callin for a testemony i would tell them "go fuck yourself, you have no power over me"...Get it?

     

Utterly clueless bro.  

Why do you think Ron paul has been trying to pass a law to get an audit done?  

ANSWER - BECAUSE THE LAW DOES NOT ALLOW IT!  

[225for70]

Just a reminder


When Bush took office, the national debt was $5.73 trillion. When he left, it was $10.7 trillion. That's a difference of $4.97 trillion, almost $1 trillion more than what Rohm Emanuel said.

Where sitting on  13.701 Trillion right now

So Obama is responsible for 3 trillion as of now...

Obama in less than two years=3 Trillion     Bush 8years=5 Trillion

Hyperspeed

[225for70]

The federal reserve is a private organization..It's not a "federal" organization...The fed has "Doubtful" reserves....It's never been audited in its existence.

Hope this helps..

[225for70]

http://www.treasurydirect.gov/NP/NPGateway


   US National Debt
12/31/2008   ........................ ........................ .....................10,699,804,864,612.13
11/05/2010....................................................................... 13,723,330,060,510.52

Bush first day ........................ ........................ ........................ ................5,776,091,314,225.33
Last.................... ........................ ........................ ...13,723,330,060,510.52

[Option D]

from your link mal...

"As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government.""[/i]

again congress has very little control over the FED's policy...

Ok i think we are getting mixed up on the word Policy. The board that is appointed by President (and confirmed by congress) creates policy, but does that mean that congress has no say,,,even when there has to be a annual meeting/report to congress?

[Soul Crusher]

Ok i think we are getting mixed up on the word Policy. The board that is appointed by President (and confirmed by congress) creates policy, but does that mean that congress has no say,,,even when there has to be a annual meeting/report to congress?

YES!   

The congress has no say in printing money, interestest rates, loans, the balance sheet, etc etc. 

Why do you think Ron Paul is seeking a full audit?   

[225for70]

Ok i think we are getting mixed up on the word Policy. The board that is appointed by President (and confirmed by congress) creates policy, but does that mean that congress has no say,,,even when there has to be a annual meeting/report to congress?

Yes, congress has zero say....
No one in congress can tell the fed what to do...
Fed can do whatever it wants in terms of monetary policy.

[Option D]

Yes, congress has zero say....
No one in congress can tell the fed what to do...
Fed can do whatever it wants in terms of monetary policy.

No.. they cant, because they still have to report to congress

The Federal Reserve's ultimate accountability is to Congress, which at any time can amend the Federal Reserve Act. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives, and twice annually on its plans for monetary policy to the banking committees of Congress. Fed officials also testify before Congress when requested.

[tonymctones]

No.. they cant, because they still have to report to congress

The Federal Reserve's ultimate accountability is to Congress, which at any time can amend the Federal Reserve Act. Legislation requires that the Fed report annually on its activities to the Speaker of the House of Representatives, and twice annually on its plans for monetary policy to the banking committees of Congress. Fed officials also testify before Congress when requested.

right mal but a report means what? they cant tell them what to report on what info needs to be disclosed or anything...

basically what they do is appoint board members and after the appointment they cannot remove them...its like the supreme court only with term limits...you cant remove a supreme court justice unless they choose to step down same thing with the Feds regional presidents...

none of their decisions need to be approved by the pres or congress....

what its saying is that congress has control over their structure and framework but no control over decision or actions of the FED...

this is why per your own link its called "independent within the government"

[225for70]

right mal but a report means what? they cant tell them what to report on what info needs to be disclosed or anything...

basically what they do is appoint board members and after the appointment they cannot remove them...its like the supreme court only with term limits...you cant remove a supreme court justice unless they choose to step down same thing with the Feds regional presidents...

none of their decisions need to be approved by the pres or congress....

what its saying is that congress has control over their structure and framework but no control over decision or actions of the FED...

this is why per your own link its called "independent within the government"

x2....

Big Mal this information you learned about the fed today probably contradicts what you learned in school, to some extent...Or conventional wisdom about the black box known as the fed..

[Option D]

right mal but a report means what? they cant tell them what to report on what info needs to be disclosed or anything...

basically what they do is appoint board members and after the appointment they cannot remove them...its like the supreme court only with term limits...you cant remove a supreme court justice unless they choose to step down same thing with the Feds regional presidents...

none of their decisions need to be approved by the pres or congress....

what its saying is that congress has control over their structure and framework but no control over decision or actions of the FED...

this is why per your own link its called "independent within the government"

I understand the initial decision making isnt up to congress to conjure...Conflict of intrest to the 10th power.
But to say congress has no say but you have to justify your actions to congress...well you see what im getting at...btw..its way easier to have a discussion with you than the other guy...man  or 3 posts and we are at an understanding.. you my man...rock

[225for70]

I understand the initial decision making isnt up to congress to conjure...Conflict of intrest to the 10th power.
But to say congress has no say but you have to justify your actions to congress...well you see what im getting at...btw..its way easier to have a discussion with you than the other guy...man  or 3 posts and we are at an understanding.. you my man...rock

Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure.

[Soul Crusher]

Ron Paul’s attempt to audit the Federal Reserve, which was previously co-sponsored by 320 members of the House (HR 1207), failed by a vote of 229-198. All Republicans voted in favor of the measure with 23 Democrats crossing the aisle to vote with Republicans. 122 co-sponsors of HR 1207, all Democrats, jumped ship and voted against the measure.

They did that when Timmy and Obama placed pressure on Nancy t get everyone in line. 

[Arnold jr]

The Fed reports to congress, correct. 
Congress makes recommendations to the Fed, correct.
The Fed takes those recommendations but does not have to follow them...the final decision rest with the Fed.
The Fed does not have to disclose all information in its reports to congress and is free to pick and choose.
With Obama's appointment of Cass Sunstein as Regulatory Czar, the Fed is granted even more freedom from congress.

[225for70]

The Fed reports to congress, correct. 
Congress makes recommendations to the Fed, correct.
The Fed takes those recommendations but does not have to follow them...the final decision rest with the Fed.
The Fed does not have to disclose all information in its reports to congress and is free to pick and choose.
With Obama's appointment of Cass Sunstein as Regulatory Czar, the Fed is granted even more freedom from congress.

Obama granted the fed even more powers, and the beast is even larger than before.