|
Termyn8or -> RE: Who owns the Federal Reserve? (4/25/2010 9:55:55 PM)
|
FR
Who cares who owns it. We can't trust them foreigners and we can't trust our countrymen.
The fed pretty much determines how much money there will be in circulation, and by math, the value of each dollar is inverse to the number of dollars. This can be tricky to manage of you are operating in the best interest of the country, and that is quite debatable. But who actually owns is not really a big issue. It could concievably be traded on the stock market, but congress' control is not much better. Regardless of ownership, the fed is relatively indepenent and therefore immune to changes in political climate. Congress granted them certain authority and can't really set their policies, but can reduce or enhance that wuthority, regardless of who owns it. This is an important thing, but is still a red herring. And if congress wanted to change the charter, if that's what they call it, they can. They can take much of the fed's authority away overnight, but think about congress, do you really want them to micromanage the econmy ? It was proven about a decade ago that they can't even balance a checkbook. What's more, with half a brain someone could influence elections with the stroke of a pen, as all people think about is themselves and votes CAN be bought.
Looking for a real solution ? Get on the wagon and quit the addiction to money. As much as possible. I only need cash for certain things, everything else is already done on barter as much as possible. My pay is by the hour and fixed. What determines the value of money to me is not totally dependent on the fed, except to the point that it affects the rate for electricity, gas, gasoline, water, sewage, tennis shoes and so forth. I know I am getting screwed and so do alot of people. But it is not going to stop by abolishing the fed, nor auditing it or anything else.
Gold is just as bad of a red herring. If the price of gold goes up, does every store close immediately to raise it's prices on everything ? If it goes down to they similarly lower it ? The only commodity I now of in common use that's price responds on a day to day basis regarless of supply and demand is gasoline.
And in this context I would ask something else. Just who owns alot of things ? Like GM, JPM/Chase, AIG, British Petroleum, Radio Corporation of America, Time Warner cable, Pfizer or any other big company ? And what does it matter ? What matters is who is in control of it. Whoever is was chosen because of their guile, intelligence greed and immunity to guilt obviously. More on that some other time.
YOU must determine what of all this affects YOU and figure out what YOU can do to make your life easier or better. YOU also have to realize which spects of the situation YOU can control and those that YOU can't.
T
|
|
|
|
