Posted on 12/22/2016 9:46:00 PM PST by Trump_vs_Evil_Witch
It's Federal and has about $4.5 trillion in reserves.
It is a private, for profit, corporation.
It's part of the government.
With 4 trillion + owed to them by “we the people” and much of that either short term or on demand,
They currently hold no T-Bills and none of the Treasury debt or MBS they hold is "on demand".
Basically, every claim you made is wrong.
Congress created the Fed, they can disband it.
LOL!
You again - don’t forget Freddie and Fannie
What about them?
Exactly.
-This comment is more accurate that we know.
That comment is dumber than you know.
Glass-Steagall didn't prevent banks from writing bad mortgages.
You know you’re viewed as a gadfly here, don’t you?
Of course, no law stops a bank from writing or underwriting a bad mortgage DUH!
Did you ever finish high school?
Glass-Steagall wasn’t passed to prevent bad mortgages. It was written to prevent banks from getting involved with investment funds that would put customer deposits at risk.
The repeal of Glass-Steagall allowed for investment funds to sell worthless bonds in coordination with banks and thrifts. The money did not come from banks, the banks and thrifts brokered the money for investment funds that had LEVERAGED ACCOUNTS FUNDED VIA DIGITALLY CREATED MONEY FROM THE FEDERAL RESERVE.
The Federal Reserve participated in the financial collapse because they allowed their member investment banks to channel LEVERAGED 10 to 1, 20 to 1 and HIGHER Fed digitally created funds to banks and thrifts for mortgages in order to sell worthless bonds backed by worthless insurance for billions and billions in profits.
The repeal of Glass-Steagall allowed all of this to go forward.
I know it's hard for you to believe, but writing trillions in bad mortgages PUTS CUSTOMER DEPOSITS AT RISK.
The repeal of Glass-Steagall allowed for investment funds to sell worthless bonds in coordination with banks and thrifts.
Which "Investment Funds"? What in Glass-Steagall stopped these "Investment Funds" before?
The money did not come from banks,
In that case, Glass-Steagall would have done nothing to prevent what happened.
the banks and thrifts brokered the money for investment funds that had LEVERAGED ACCOUNTS FUNDED VIA DIGITALLY CREATED MONEY FROM THE FEDERAL RESERVE.
It looked like your lips were moving, but the gibberish that came out made no sense.
they allowed their member investment banks to channel LEVERAGED 10 to 1, 20 to 1 and HIGHER Fed digitally created funds to banks and thrifts for mortgages
You think the banks were borrowing from the Fed to write these mortgages? That's funny. Thanks for the extra proof you don't know what you're talking about.
You know you’re viewed as a gadfly here, don’t you?
Gadfly: a person who stimulates or annoys especially by persistent criticism
Yeah, I guess idiots are often annoyed when I criticize their idiocy.
I don't have the cash to pay them back what are they going to do? I say default on the 4 trillion that's owed to the fed. Let them go bankrupt.
Your inability to recognize your own idiocy over many years is all the proof needed to infer it’s an inherited condition.
Such persons should be walked to a b*tch session with their mothers and fathers to vent about the bad genes they were dealt followed by a vow to not procreate ever again.
Feel free to answer my questions, so I can further illustrate your utter lack of understanding of this topic.
Or run away. DERP!
They’re wonderful
“So actually there were good guys. They were in law enforcement with the SEC. But they were forced out or into early retirement leaving no good guys left on the field.”
Brooksley Born.
The repeal of Glass Steagall wasn’t the political action that caused the crash. It DID give the banks the ability to use Mortgage Backed Securities to keep the Rube Goldberg machine running, but what put it in motion was the unholy alliance of the Community Reinvestment Act, regulators that threatened banks unless they underwrote sub prime loans, the Dems in charge of Fannie and Freddie that would buy ANYTHING from the mortgage lenders and the orchestral by Barney Frank. Watch the Senate Hearings that happened just months before the bottom fell out. They are still on YouTube.
Yep. Saw all that and I did write in a post on this thread it ‘started’ with the repeal of Glass-Steagall creating the capability for all this to go forward.
Without repealing Glass-Steagall, there would have been no legal basis for all of what followed and the financial collapse would never have occurred.
Thanks for describing it further. The thread is about the Federal Reserve and the reason Glass-Steagall is being discussed is because the Federal Reserve was an accomplice to the collapse.
The Federal Reserve was created as a concession to the US federal government to print paper notes backed by gold and silver and to take out old worn notes and replace them with new paper notes. They used banks to accomplish this function.
How the Federal Reserve got in the business of making ‘loans’ to its members is another topic. But that is where a lot of the trouble is.
If I am the Federal Reserve, and you and I are at a market to buy things, I can snap my fingers and presto! I create money from nowhere and buy the things you need out from under you.
What have I done to your life? I’ve reduced you to ZERO. Because there is nothing you can buy with my notes unless I allow it. I can always buy you out. I can buy the car you want, the farm you need, everything. I control the value of your life and work.
And I will use banks (my banks, the member ‘investment’ banks) to make it happen. It used to be that Glass-Steagall prevented my member banks from messing with your local banks. It provided a firewall for you to be protected against my power.
Say you want to buy a spread of land for livestock. You have the money represented by my notes. Well, my bank can have its representative go to the seller and bid up the price and you get nothing. So your life can’t compete with my ability to create more notes.
You can’t compete and so your life is devalued. If I want, I can devalue your life to ZERO.
I can pick and choose who I want to win and who I want to lose. This is the danger of central banking especially when it becomes politicized. This is why our Founders and later leaders warned against central banking.
Central banking needs to be controlled, regulated because it is so powerful. Senator Phil Gramm, a PhD in Economics, decide to cut it loose by leading the effort to repeal Glass-Steagall.
Yep. Saw that PBS episode years ago and it scared the bejeezus out of me.
Over 500 TRILLION in derivatives. That’s ‘Trillion’ with a ‘T’.
That number represents more than 30 years of what all of America is able to produce. That’s about a generation of Americans. An entire generation of Americans, their lifeblood of work at risk.
That market of more than $500,000,000,000,000 in derivatives was concentrated mainly in member banks of the Federal Reserve, the so-called investment banks. We know them, for example, Goldman-Sachs, Citibank, Bank of America, etc.
The Federal Reserve member investment banks can click on a computer and create funds in their bank holding account at Zero % interest via policy of the Federal Reserve. Actually, the Federal Reserve was paying its member banks to hold funds so that in effect the member banks could create funds and earn interest from the Federal Reserve. Nice huh?
Would be so nice if I could make a few clicks at my computer and get a nice fat interest payment from the Federal Reserve. Yep. Only I want the payments to make my life really grand. You know, office on the 60th floor downtown Manhattan overlooking Central Park, weekend home in the Hamptons, plenty of overseas vacations because it so exhausting to click those buttons and besides I need to attend those conferences to keep in touch with what international bankers are going to buy next and how they are devising ‘policy’ to buy all those things.
Now the same system is preparing to stick it to the Trump Administration.
That's some heavy duty idiocy. Thanks!
I did not post or reply to you, and I never have nor would I ever.
So listen up. You have nothing of value to contribute here.
Do not post to me again for any reason. Otherwise, we’re going to have a little discussion with the Admin Moderator about stalking and harassment.
Do not post to me again, got it? You’d better.
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