Federal Reserve Audit

Now, what news on the Rialto?
Mr. Perfect
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Re: Federal Reserve Audit

Post by Mr. Perfect »

Typhoon wrote:
Mr. Perfect wrote:It worked for thousands of years. Don't shoot the messenger. And it will probably happen whether you like it or not, so you may want to bone up on how to sort out the reputable minter thing.
Two problems with a precious metal standard:

1/ It can be fiddled with as with anything else
As the material you posted indicated, getting the government out of the business is a very good idea.
2/ Little, if any, correlation with the amount of precious metal being produced and economic growth
No, interest rates and price fluctuation attracts and flushes out actual quanitites in a "regulatory" manner.
A currency pegged to a basket of commodities in proportion to their global usage makes more sense to me.
What does precedent suggest as the outcome of such a scheme?
_____

As for a Federal Reserve audit, I doubt that I'll see it in my lifetime.
People have to live in reality. In reality a currency that does exactly what we want isn't even possible, ie perfect price stability doesn't appear to be possible. However what is undeniable across many centuries of human history is that gov't influence over money leads to corruption, so the sooner we get gov't out of the process the better.
Censorship isn't necessary
Mr. Perfect
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Re: Federal Reserve Audit

Post by Mr. Perfect »

Zack Morris wrote:
Typhoon wrote: A currency pegged to a basket of commodities in proportion to their global usage makes more sense to me.
That still won't satisfy the Mr. Perfects and the Alphs of the world. They'll claim it's all a conspiracy concocted by central planners to serve their own interests. I remember when Alph hilariously claimed that the CPI is a "tool" of the elites designed to report only what they want us to see, implying that it was being continually manipulated and refined. You can't satisfy the terminally paranoid.
It's not a conspiracy, it's out in the open.
Censorship isn't necessary
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Nonc Hilaire
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Re: Federal Reserve Audit

Post by Nonc Hilaire »

Zack Morris wrote:
Juggernaut Nihilism wrote:I find it incredible that the market is not permitted to fall even a few percentage points without the Fed stepping in with new action. Even with equities near all time highs, just a 5% drop would result in calls for intervention. It's absurd.
Is it correlated to the market? I think the Fed is more concerned about maximum employment, overall inflation, and interest rates. Those are its core objectives.
I think the core objective of the Fed is to reelect the party in power.

In other news, Deutche Bank seems to think a gold standard would work
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”

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Juggernaut Nihilism
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Re: Federal Reserve Audit

Post by Juggernaut Nihilism »

Nonc Hilaire wrote:
Zack Morris wrote:
Juggernaut Nihilism wrote:I find it incredible that the market is not permitted to fall even a few percentage points without the Fed stepping in with new action. Even with equities near all time highs, just a 5% drop would result in calls for intervention. It's absurd.
Is it correlated to the market? I think the Fed is more concerned about maximum employment, overall inflation, and interest rates. Those are its core objectives.
I think the core objective of the Fed is to reelect the party in power.

In other news, Deutche Bank seems to think a gold standard would work
The core objective of the Fed is to maintain inflated asset prices, 80% of which are held by 1% of the population.
"The fundamental rule of political analysis from the point of psychology is, follow the sacredness, and around it is a ring of motivated ignorance."
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Juggernaut Nihilism
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Re: Federal Reserve Audit

Post by Juggernaut Nihilism »

Wanna see the polar opposite of the CEO that makes out like a bandit after destroying his company and national economy?
Infielder Tsuyoshi Nishioka waived $3.25 million in future pay and was granted his release from the Minnesota Twins after saying he was ashamed of his poor performance. Nishioka will forgo the $3 million he was owed in 2013 on the final year of a three-year deal, and a $250,000 buyout, according to a statement released today by the Major League Baseball team. The 28-year-old had asked to be released and is now a free agent. Nishioka said in the statement that he refused the money because he was disappointed in the way he has performed in his two major-league seasons, both in Minnesota. “I take full responsibility for my performance, which was below my own expectations,” he said. “At this time, I have made the decision that it is time to part ways. I have no regrets and know that only through struggle can a person grow stronger.
http://seattletimes.com/html/thehotston ... hioka.html
"The fundamental rule of political analysis from the point of psychology is, follow the sacredness, and around it is a ring of motivated ignorance."
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Nonc Hilaire
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Fed refuses to let Bundesbank even VIEW their gold

Post by Nonc Hilaire »

http://www.mining.com/germans-begin-to- ... ign=digest

Dated Nov 1, 2012
A secret report by Germany's Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”

Teresa of Ávila
Jnalum Persicum

Re: Fed refuses to let Bundesbank even VIEW their gold

Post by Jnalum Persicum »

Nonc Hilaire wrote:.


http://www.mining.com/germans-begin-to- ... ign=digest

Dated Nov 1, 2012
.

A secret report by Germany's Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin.
.

:lol: :lol: :D


Looooooooooooooooooove it



.
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Nonc Hilaire
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Re: Fed refuses to let Bundesbank even VIEW their gold

Post by Nonc Hilaire »

Jnalum Persicum wrote:
Nonc Hilaire wrote:.


http://www.mining.com/germans-begin-to- ... ign=digest

Dated Nov 1, 2012
.

A secret report by Germany's Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin.
.

:lol: :lol: :D


Looooooooooooooooooove it



.
What is there to love? Theft and fraud benefit no one except the thieves.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”

Teresa of Ávila
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Enki
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Re: Fed refuses to let Bundesbank even VIEW their gold

Post by Enki »

Nonc Hilaire wrote: What is there to love? Theft and fraud benefit no one except the thieves.
Me and 50,000 of my closest friends hung out in the street saying this to people downtown for several months and were called communists.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
Mr. Perfect
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Re: Federal Reserve Audit

Post by Mr. Perfect »

Your friends voted it all in in 2008 and revoted it in 2012.
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Simple Minded

Re: Fed refuses to let Bundesbank even VIEW their gold

Post by Simple Minded »

Nonc Hilaire wrote:http://www.mining.com/germans-begin-to- ... ign=digest

Dated Nov 1, 2012
A secret report by Germany's Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin.
If Fort Knox is also empty, that would be the ultimate monument to the Western mentality practised over the last few decades that eveyone can live at the expense of someone else.... eventually, even Robin Hood runs out of people to rob.....
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Miss_Faucie_Fishtits
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Re: Federal Reserve Audit

Post by Miss_Faucie_Fishtits »

Get these while you can and wrap 'em in gold foil.....'>.......
She irons her jeans, she's evil.........
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Azrael
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Re: Federal Reserve Audit

Post by Azrael »

Marcus wrote:
Juggernaut Nihilism wrote:
Marcus wrote:Trying to reduce the American experiment to purely economic discontent is entirely too simplistic.
I certainly agree with this, and didn't mean to imply such a reductionism. I also actually agree with your assessment of the American Revolution's roots in the Reformation, although I think that the relationship is more subtle than, say, the relationship of Islam to the Iranian revolution. In other words, the values of the Reformation informed and structured many of the values that led to the American Revolution.
We are in substantial agreement. I'd add only that in addition to your points, the Reformation unleashed a social dynamic heretofore unknown.
But wasn't the Reformation an extension and aspect of major changes in society that were already ongoing, such as the weakening of the Catholic Church, the growth in power of secular rulers, the increasing use of money and the transition from more feudal to more capitalistic modes of exchange, the growth of humanism and skepticism, increasing exposure to different cultures and philosophies, the growth of science, etc.?
cultivate a white rose
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Nonc Hilaire
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Re: Federal Reserve Audit

Post by Nonc Hilaire »

This is an international currency war. Do not expect honesty.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”

Teresa of Ávila
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Enki
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Re: Fed refuses to let Bundesbank even VIEW their gold

Post by Enki »

Simple Minded wrote:
Nonc Hilaire wrote:http://www.mining.com/germans-begin-to- ... ign=digest

Dated Nov 1, 2012
A secret report by Germany's Federal Audit Office leaked to the public last week states that the Federal Reserve Bank of New York refuses to allow Bundebank staff to even view the gold, triggering suspicions that the vaults are empty as well as calls for the gold to be shipped back to Berlin.
If Fort Knox is also empty, that would be the ultimate monument to the Western mentality practised over the last few decades that eveyone can live at the expense of someone else.... eventually, even Robin Hood runs out of people to rob.....
The wealthy have the highest proportion of the wealth in any nation in all of history. Robin Hood would die of old age before he ran out of people to rob in this new gilded age.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
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