Sweeping Bank Reform Legislation.

#3
#3
Both will be watered down and changed possibly numerous times by the time they reach a final consensus. If they get it right or a close facsimile. Both will be a good deal.
 
#4
#4
orangeblooded2 said:
Both will be watered down and changed possibly numerous times by the time they reach a final consensus. If they get it right or a close facsimile. Both will be a good deal.
Click to expand...

I respectfully disagree, the Pelosi/Fwank bill gives even more power to the Fed, which is a private corporation.

This is directly the opposite of what needs to be done.

Even though a majority of congressmen are co-sponsoring HR1207, as far as I can tell it has been buried in committee since Sept. 25 and will probably never again see the light of day.
 
#5
#5
would it, could it be worse than the status quo?


I do remember your dissertation on how the federal reserve began, good stuff.
 
#6
#6
orangeblooded2 said:
would it, could it be worse than the status quo?


I do remember your dissertation on how the federal reserve began, good stuff.
Click to expand...


In a word......YES.

You're too kind, I usually think of it as more of an outright rant that a dissertaion when I get on that topic. :)

I get so frustrated when it seems that so many people just don't understand how the system works and aren't completely outraged and demanding of their representatives in government do something about it immediately, such as return to a constitutional money system.

Say we need another two trillion dollars this year as leading democrats are demanding.

The US Treasury prints up $2 trillion in treasury bonds.

The fed prints up $2 trillion in federal reserve notes.

They exchange bonds for dollars.

The fed sells the treasury bonds to China or whomever for cash or other instruments of negotiable value.

The owners of the fed get $2 trillion free and clear to do with as they wish.

We the people are bound not only to redeem the treasury bonds when they mature but also pay interest.

We the people can't even look at the fed's private books in a meaningful manner.

Example; Monday, May 11, 2009
The Federal Reserve Can Not Account For $9 Trillion In Off-Balance Sheet Transactions. (in just eight months)

Rep. Alan Grayson summarizes it best "I am shocked to find out that nobody at the Federal Reserve is keeping track of anything."
Click to expand...

Interesting side item; Exposing the Risks of Shariah Finance.
 
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