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Audit the fed ? - 1/29/2010 10:23:24 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		I read something interesting the other day. Bloomberg filed suit under the FOIA to get the fed to open up it's books. The fed has appealed. Why ?

The fed stated that it would cause them "irreparable competitive injury". Why ?

The thing that surprises me is that Bloomberg opened this can of worms, while I thought they were part of the problem. And to those who claim the fed is audited, and those who claim that those audits should be more thorough, like a CAFR, why did Bloomberg start this. And why would the fed appeal it ? The competitive injury was already self inflicted I would say, so what would be the difference ?

In other words, why ?

I am very careful about falling into conspiracy "theories", but I still have to callem as I seeum. Give me valid reasons in your own words why they are so resistant to make such important information public ? I don't need twenty thousand links to fucking videos, I want an explanaition.

Why ?

T
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RE: Audit the fed ? - 1/29/2010 10:58:02 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline 		The Fed lost the FOIA fight back in the summer. It isn't about an audit but about who got how mch in bailout loans under what terms.

I can'r find any indication that the Fed ever claimed competitive injury.

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RE: Audit the fed ? - 1/29/2010 11:26:22 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		It's a quote from a quote, but should be public record. However, the question still remains - why did Bloomberg file the suit in the first place ? And why did the fed appeal it ?

I am also aware of the people who claim that the fed is indepenent of the government, that is not the point here, in fact that an FOIA case can be drawn against them somewhat indicates that it is not quite as autonomous as the one side of the issue claims.

I am open to either side of this, as long as noone gets crazy. I want it filtered, not in links. From what I have (in print) is that in the latest hearings the lawyers for the fed said that, and called the material "highly sensitive". That was as of this month. If the minutes are public even, they might not yet be available.

I will sit back and watch. None of us, and even all of us can't change the inevitable. I am sure we agree that this economy is going wrong. Just how long it goes before getting right is the issue. I am not a doomsayer, this is simple fact - that we have been living on credit for too long. A real audit of the fed would simply be like a detailed billing statement.

However IMO that does not make it a moot point. For one I would like to know when, for several reasons. The total debt is really about to top the GDP soon, that is fact. This is not sustainable. We can do nothing about it but prepare actually. It is nothing but a weather report advising that a storm is coming, but they just haven't decided when.

And what could happen ? The roundup of the fed directors ? I doubt it, especially after Gold Sacks and everybody raped us. Nobody went to jail over that, so why should this be any different ?

But the simple fact that his happened proves a thing or two, and indicates the possibility of alot more hanky-panky going on than we ever expected.

Why else would they be so secrective about their state of affairs though ? That question still remains.

T

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RE: Audit the fed ? - 1/30/2010 4:57:55 AM   
Real0ne


Posts: 21189
Joined: 10/25/2004
Status: offline 		now that I would like to see!

I bet it NEVER happens!

That kind of exposure would probly cause an armed revolt.


_____________________________

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Yesterdays tinfoil is today's reality!

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RE: Audit the fed ? - 1/30/2010 6:37:35 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		Not really Real. The time for that was when they confiscated all the gold.

Now that I mention it, they did that ostensibly to prevent hoarding. That is so much bullshit on two levels. First of all they were doing the hoarding, by gunpoint. Second of all hoarding is a self defense tool. If they could take your gold back then, what can they take now ?

People back then had some semblence of an understanding of their rights, many had guns, the government was small. Now there is nothing anyone can do about anything, so no matter what this reveals, it won't shake the tree much. As long as they have food, intoxicants and new gadgets from time to time they will be happy.

Let someone start that love it or leave it shit, because I have a reponse, right here on this board. Merc and Beth are leaving for these almost exact reasons. He has (rightly) no faith in the dollar and wants to retire, remember ? And think about it, Italy doesn't do much trade with the US in volume comparitively. The lire might do well amidst the collapse of the dollar. Is he the type who came to this country so many generations ago ? When they looked around and saw the impeding doom facing their homeland and had the guts and brains to leave ? I wonder.

T

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RE: Audit the fed ? - 1/30/2010 9:13:26 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		The system is one that has run its course.  There can be no growth when there is no credit expansion. Lets not forget that money is debt - and not a true measure of wealth.

If you truly want some hints- then  here is a 90 minute radio show- http://bobchapman.blogspot.com/

The system is not fixable... the game is rigged.  But then you knew that....

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RE: Audit the fed ? - 1/30/2010 9:27:24 AM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		Hunky, how about a transcript instead. I can't sit here and watch all these videos. I can read about 4X faster than anyone could speak intelligibly.

T

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RE: Audit the fed ? - 1/30/2010 9:37:30 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		-- I am sorry- I don't know if there is a transcript.

Personally- I think the records would be shredded- if they are ever audited.

from his website:
The return of Paul Volcker, bailed out banks out of touch, greedy and arrogant and are due for a change, can there be jail time for Wall Street gangsters? Other countries in a fragile economic state, just as ours is, Bernanke bailed out himself, SEC secret files.
Paul Volcker is back and things are about to change in Washington. A split has occurred between the paper forces of Goldman Sachs and JP Morgan Chase. Mr. Volcker represents Morgan interests. Both sides are Illuminists, but the Morgan side is tired of Goldman’s greed and arrogance. Volcker cannot be called old school or anachronistic. He represents sanity in an insane financial world even though he is an integral and powerful part of the elitist structure. He represents a change in gears and approach. The present administration and the Democratic Party has lost its moorings and is in on a path of political suicide. They have tried to get passed impossible legislation that the American people do not want, and they will abandoning those positions, because they are no longer tenable. The election of Scott Brown in Massachusetts was a major defeat for all administration programs. As you will see Mr. Obama and fellow Democrats will start sounding like popular conservatives and populist talk show hosts, as they attempt to win back their center. That is where Paul Volcker fits in. He is back and major changes are about to take place financially and politically./snip

--> link is here


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RE: Audit the fed ? - 1/30/2010 9:41:42 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		silver = 16.20 close.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


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RE: Audit the fed ? - 1/30/2010 9:52:13 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		What they do- is to shuffle any assets to a shell corporation- so the public holds the losses- but any profits are cleverly diverted into other corporations- off shore- and untouchable.

The secrecy is to hide the game.

and yes- silver is down-   people jumping out the windows left and right....  so you win.                                     (maybe....)

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RE: Audit the fed ? - 1/30/2010 12:25:15 PM   
thornhappy


Posts: 8596
Joined: 12/16/2006
Status: offline 		This is probably why (see bolded info):

"EXEMPTION 4 - Confidential Business Information.

The fourth FOIA exemption protects from public disclosure two
types of information: Trade secrets and confidential business
information...

The second type of protected data is commercial or financial
information obtained from a person and privileged or
confidential. The courts have held that data qualifies for
withholding if disclosure by the government would be likely to
harm the competitive position of the person who submitted the
information. Detailed information on a company's marketing
plans, profits, or costs can qualify as confidential business
information. Information' may also be withheld if disclosure
would be likely to impair the government's ability to obtain
similar information in the future."

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RE: Audit the fed ? - 1/30/2010 12:31:42 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: thornhappy

This is probably why (see bolded info):

"EXEMPTION 4 - Confidential Business Information.

The fourth FOIA exemption protects from public disclosure two
types of information: Trade secrets and confidential business
information...

The second type of protected data is commercial or financial
information obtained from a person and privileged or
confidential. The courts have held that data qualifies for
withholding if disclosure by the government would be likely to
harm the competitive position of the person who submitted the
information. Detailed information on a company's marketing
plans, profits, or costs can qualify as confidential business
information. Information' may also be withheld if disclosure
would be likely to impair the government's ability to obtain
similar information in the future."



Well if they mean front running trades by a nano second to skim monies- that is fraud.

The premise is- even with Bloomburg- that one can not have taxation with out representation.   So the trillions going to WHOM, it is funny stuff- and reaks of massive fraud.  But then you knew this.

What we will see is that people worth a few hundred million- are going to conclude that the big boys don't plan on letting them have a piece of the pie.  ..and so there will be a retaliation of sorts.   Pretty predictable...

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RE: Audit the fed ? - 1/30/2010 2:26:41 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		http://www.thepeoplesvoice.org/TPV3/Voices.php/2010/01/30/jpmorgan-vs-goldman-sachs-why-the-market#more9755

here is a brief blurb

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RE: Audit the fed ? - 1/30/2010 2:32:30 PM   
thornhappy


Posts: 8596
Joined: 12/16/2006
Status: offline
quote:

ORIGINAL: pahunkboy
Well if they mean front running trades by a nano second to skim monies- that is fraud.

It wasn't fraud; it was an unregulated technique (there're good and bad points to computers).

quote:

ORIGINAL: pahunkboy
The premise is- even with Bloomburg- that one can not have taxation with out representation.   So the trillions going to WHOM, it is funny stuff- and reaks of massive fraud.  But then you knew this.

Taxation without representation was an issue for the Revolution, but I'm betting plenty of folks pay state taxes without input into the tax rates.

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RE: Audit the fed ? - 1/30/2010 2:40:41 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: thornhappy

quote:

ORIGINAL: pahunkboy
Well if they mean front running trades by a nano second to skim monies- that is fraud.

It wasn't fraud; it was an unregulated technique (there're good and bad points to computers).

quote:

ORIGINAL: pahunkboy
The premise is- even with Bloomburg- that one can not have taxation with out representation.   So the trillions going to WHOM, it is funny stuff- and reaks of massive fraud.  But then you knew this.

Taxation without representation was an issue for the Revolution, but I'm betting plenty of folks pay state taxes without input into the tax rates.




Lemme ask you.

Do you want them to be audited?

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RE: Audit the fed ? - 1/30/2010 2:53:12 PM   
Termyn8or


Posts: 18681
Joined: 11/12/2005
Status: offline 		"EXEMPTION 4 - Confidential Business Information"

Define business, then define government. They want it both ways. So our currency's origin is to be kept secret like some sort of recon mission into enemy territory ?

Which is it ? One way or the other. Is it a business or is it part of the government ?

And to those who think the IRS is in PR, from what I heard they were in DC, in the phone book and everything. On the same page with Federal window washing, Federal used cars or some such, not in the government section.

But that doesn't matter when you consider that DC is not even ours. When they didn't want the headquarters of the US govt in any one state, they got what they wanted. Yes it is a US possesion, except for actual ownership.

But even that doesn't matter. It's the confuddlement that gets me. It is as if it was planned, even to the staunchest of the debunkers. Let's put it this way, to steal effectively it helps to blur the lines of actual ownership. That's 2. The lines drawn on a map do not a nation make. That's 2. Two plus two equals four. There is a book written by a mathematician in India who lived I think only on this white goop with bugs in it who was always sick or something. It is about the size of a NYC phone book. Anyone care to read it ?

T

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RE: Audit the fed ? - 1/30/2010 3:03:09 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		But Term- as a matter of operations- both businesses and governments- do go thru an annual audit.   Even if it is just an inventory.   But it is done- and is common- it is expected.

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