mnottertail
Posts: 60698
Joined: 11/3/2004 Status: offline
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quote:
With that said, it doesn't matter who Obama puts as the Chairman or Governer(s) since those who own the Fed (which is a secret by the way OoOoOoOoO) will be the ones that really dictates the FEDs policies. One of the worst kept secrets in the world. Yeah, some 38% of the nations bigger banks own federal reserve stock, and they have big restrictions on that stock, they cannot buy or sell it of their own accord, pledge it as a security, and they get a continuous and standard 6% interest off the buy in per year. They (all of those banks) have a minority say in some things, collectively; like short term interest rate targets.....but it is very minor, and can be overruled by just one of the Feds governors pretty easily. They don't dictate shit. And the federal reserve is overseen by congress, but you have a house full of inept and inumerate teabaggers down there.
< Message edited by mnottertail -- 1/25/2013 9:01:27 AM >
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Have they not divided the prey; to every man a damsel or two? Judges 5:30
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