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To: surfer
"I have studied the Fed very carefully and long before Ron Paul ever stated anything about it.'

Yet you didn't answer two very simple questions about it's governance. How is the board of governors selected, and how are each of the Federal Reserve Bank directors selected?

"Bernanke has even testified on multiple occassions that they will not release information."

They don't release "policy information" when they are intervening in markets. They do that to maintain stable currency exchange rates and sometimes to prevent bank runs and other instabilities. Otherwise people like George Soros would work against you. It was set up that way by Congress on purpose.

But there are still audits. All of the money is accounted for. The audits are by independent non-government auditors. And they have been made public.

"Finally you have Woodrow Wilson involved...ANYTHING Woodrow Wilson ever did has hurt our country.

WOODROW WILSON!!!! HOLY DEAD PRESIDENT BATMAN!

If the zombie of Woodrow Wilson is currently secretly running the government, then I'll admit we have a problem.

27 posted on 03/04/2011 9:06:12 AM PST by DannyTN
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To: DannyTN

“Yet you didn’t answer two very simple questions about it’s governance. How is the board of governors selected, and how are each of the Federal Reserve Bank directors selected?”

I, for one, cannot answer that question off the top of my head. I am too busy, and my brain has to deal with too many other things that have an immediate and more direct impact on my daily life—like trying to remember my wife’s birthday, work, kid’s activities for the weekend, etc. I should also point out that I remember exactly why, for example, vitamin D is good for me, as in spouting off the medical terms from something I read years ago, but I do make sure I get enough sunlight during the winter months, and that does seem to keep me healthy.

However, I have read up on the Fed matter over the years, even wrote a brief college paper on the Fed (a few decades ago), so I can say that I have at least some knowledge about finance (with a strong Austrian economics bias). In that vein, I would suggest that you at least consider an hour of your time to take a look at the evidence against the Fed’s value. A good working paper, called “Has the Fed Been a Failure?,” may be found here:

http://www.cato.org/pubs/researchnotes/WorkingPaper-2.pdf


34 posted on 03/04/2011 9:48:53 AM PST by Stat-boy
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