This page has been archived and commenting is disabled.
Guest Post: We Should All Love Fed Transparency
Submitted by John Aziz of Azizonomics,
Ron Paul’s signature Audit the Fed legislation finally passed the House; on July 25, the House bill was passed 327 to 98. But the chances of a comprehensive audit of monetary policy — including the specifics of the 2008 bailouts — remain distant.
Why? Well, the Fed doesn’t seem to want the sunshine. Critics including the current Fed regime claim that monetary policy transparency would politicise the Fed and compromise its independence, and allow public sentiment to interfere with what they believe should be a process left to experts dispassionately interpreting the economic data. Although the St. Louis Fed makes economic data widely available, monetary policy is determined behind closed doors, and transactions are carried out in secret.
We fully accept the need for transparency and accountability, but it is a well-established fact that an independent central bank will provide better outcomes.
Ron Paul:
When the Fed talks about independence, what they’re really talking about is secrecy. What the GAO cannot audit is monetary policy. It would not be able to look at agreements and operations with foreign central banks, and governments, and other banks, transactions made under the direction of the FOMC [Federal Open Market Committee], and discussions or communications between the board and the Federal Reserve system relating to all those items. And why this is important is because of what happened 4 years ago. It’s estimated that the amount of money that went in and out of the Fed overseas is $15 trillion. How did we get into this situation where Congress has nothing to say about bailing out all these banks?
What I am struggling to understand is why the Fed is so keen to not disclose the inner workings of monetary policy even in retrospect. How can we judge the success of monetary policy operations without the raw facts? How can we have an informed debate about what the Fed does unless we know exactly what the Fed does? Why should only insiders be privy to this information? Surely the more we know, the better debate economists and the wider society will be able to have about Fed policy?
There are plenty of critics of Bernanke and the Fed, including both those who believe the Fed should do more, and those who believe the Fed should do less. But it seems very difficult to appraise the Fed’s monetary policy operations unless we can look at every aspect of its policy. If Bernanke and the FOMC are confident that their decisions have been the right ones, why can they not at least disclose the full extent of monetary policy and explain their decisions? If they are making the right decisions, they should at least have the confidence to try and explain them.
All that the current state of secrecy does is encourage conspiracy theories. What is the FOMC trying to hide? Are they making decisions that they think would prove unpopular or inexplicable? Are they ashamed of their previous decisions or decision-making frameworks? Are they concerned the decision making process will make them look bad? Are they bailing out well-connected insiders at the expense of the wider society?
We can’t have a real debate about policy unless we have access to all the data about decisions. Those who believe the Fed’s monetary policy has worked should welcome transparency just as much as those who believe the Fed’s monetary policy has not worked. If the Fed’s actions have been beneficial, then transparency will shine kindly on it. If not, then transparency will help us have a better debate about the road forward.
- 10173 reads
- Printer-friendly version
- Send to friend
- advertisements -



Audit, then End the Fed.
They don't want transparency because it will end up like Perestroika.
its too late, this is all just show... we will get an audit, when the banker criminals are totally done with this part of the scheme and ready to screw the world with something worse.
Americans won't like the Fed expense reports. Too many five star hotels. Just like the rest of the DC establishment. State, Justice, Commerce, Energy, CIA, FBI... Do you think these people ever stay at a Day's Inn?
Stop it with the damn logic!
The day an audit starts is the day all the bankers head to there bunkers for the end game
Vote Details:
http://www.govtrack.us/congress/votes/112-2012/h513
Schumer Pushes Fed Toward QE3, Tells Bernanke 'Get To Work Mr. Chairman'
http://www.forbes.com/sites/steveschaefer/2012/07/17/bernanke-to-hint-at-more-stimulus-gold-doesnt-think-so/
Democrats warn Rep. Paul's 'audit the Fed' bill will politicize monetary policy
http://thehill.com/blogs/floor-action/house/239821-dems-warn-pauls-audit-the-fed-bill-will-politicize-monetary-policy
Why shouldn't monetary policy be up for political debate? It is the fucking taxpayer's money after all?
Too many, that are absolutely positive the govt. is corrupt and want to change it, have been media brainwashed about Ron Paul.
BOTH sides have worked tirelessly to keep him and his ideas away from American voters.
I will write him in.
You're not alone, I will as well...again.
Likewise.
Bring a Sharpee, you're going to need something permanent for that Diebold screen.
Exactly! As if monetary policy is a-political now. Isn't the whole fucking point of debate, an attempt to reveal the truth? While we might not arrive at the truth through debate, we will not arrive at truth if we continue such covert operations with other peoples' money.
Meantime...Mitt's audience revealed, starting at about 0:09
http://www.youtube.com/watch?v=O2BFss6Qs0c&feature=youtu.be
An audit tells us nothing. We already know what the Fed does. What it was created to do: facilitate the debt-financing of the welfare-warfare state through monetization, price inflation, interest rate manipulation, and other kosher scams. It needs to be taken apart brick-by-brick, and the bricks dropped in the deepest part of the ocean. With a banker/politician attached to each brick.
Agreed. An audit IS WORTHLESS. Did audits do anything about Madoff, MFG or any other banker fraud factories? How about the fucking stress tests? Those were audits.
First there has to be THE WILL TO ENFORCE THE LAW. Then an audit as a form of criminal discovery. Then trials and imprisonment.
Just an audit would be another fraud. Ron Paul is just one well-meaning little man trying to do his best against a world gone mad. Things have to get a lot worse before people are ready to listen.
Thank you for posting that.
Thank you posting that. The next thing I will do is write a short letter thanking my Congressman for his brave Yea vote!
The 100 year Federal Reserve charter is set to expire and it needs to be renewed by CONgress in 2013.
I am taking bets on whether the re chartering process will be transparent or whether the re-authorization will be tacked onto some other pending legislation at 4:00 am on Christmas Eve...
Any takers?
Either way, all those who vote in favor of passing the charter will be easily identified. My bet is on your latter scenario. If ZH reports on anything in 2013, I sure hope they publish the voting record on this.
Jackson vs. Biddle 2.0
About damn time. bring it.
The problem is that the banking cabal has assured that, unfortunately for the American people, there will be no Andrew Jackson in office this time around...
Obamney 2012
100 More Years of Debt Slavery!
Oligarchmney 2012
Olifartonme 2012
there will be no Andrew Jackson in office this time around...
_______________
Unfortunately for US citizens, US of A banned slavery shortly after that president. So no more US of A president with over 150 slaves as ownership.
The ethnical cleansing is still possible though. One has only to find the Indians to match.
Two words: "The Laogai"
As usual, your post deserves a ROR. Ha ha ha, you vellllly funny.
AnAnonymous, squatting and dropping another stool, identical in every way with his previous droppings:
Yeah, well, I guess Chinese citizenism citizens have the US of A beat in that regard, as slavery keeps rearing its ugly head there, even in the 21st century. By the way, how is your friend Wang Bingbing doing these days?
http://en.wikipedia.org/wiki/2007_Chinese_slave_scandal
Sure, sure. According to you, the Indians are US citizens just like the rest, so why not just use any US citizens? We all look alike to you anyway.
keep insinuating the race card . . . you insidious piece-of-shit
m e g a p h o n e*
smell-of-the-greasepaint, roar-of-the-crowd, nobody's missing your act
*clown: @ 0.0001 an hour
Somewhere in Peking, a lost puppy is barking. Somewhere in Peking, anonymouse salivates and rises from his computer...
Umm the Fed charter is a red herring. There is no need to renew anything.
http://www.law.cornell.edu/uscode/text/12/341
"Second. To have succession after February 25, 1927, until dissolved by Act of Congress or until forfeiture of franchise for violation of law."
Something about stable prices comes to mind...
You are correct, sir.
So much for 'wishful thinking my way to reality'
Guess it's back to drinking...
Not true I don't have a link on me, but they got a perpetual charter sometime in the 50's if I recall correctly. That said, the FED like JPM and GS are all worthy scapegoats for the BIS and IMF to create its one world financial system. Give the proles something without the puppet masters giving up ANY power. People act like it ends at the FED, Bernanke like all Central Bankers reports to the BIS. Think about it.
"Americans won't like the Fed expense reports. Too many five star hotels. Just like the rest of the DC establishment. State, Justice, Commerce, Energy, CIA, FBI... Do you think these people ever stay at a Day's Inn?"
You make it sound as if the Fed is a part of the gov't. Friendly reminder....The Fed is a private institution. The first question I would like answered is who is the owner/beneficiary just like one has to answer before an account is open anywhere else. It is called know your client (kyc). Who are these people?
Actually, it is neither a private institution or part of the government. At the same time, it is both. As with almost everything a central bank involves itself in, obfuscation is the name of the game.
Yes, they stay in the Mayflower but they get the government rate. Err, well, some of the time. Sometimes it is hard to do the people's work.
You say that like anyone in the Fed wants a "real debate about policy" -- a quaint idea that went out with civil liberties and buggy whips.
I'm just trying to illustrate the reality that defenders of the Fed's secrecy are more or less advocating technocratic fascism.
The majority of American people care more about Chick-fil-Not-Gay, then they do about an audit. Distractions rule!
Other than a small minority speaking out when Sen. Sander's watered-down bill showd $17 TRILLION handed out to banksters, the people were more concerned about Mile Cyrus' areola or something.
I agree entirely -- my comment wasn't criticism.
I only meant that for all we hear about substantive debate about meaningful policy reforms, we sometimes forget that the established hierarchy isn't always interested in truly fostering those conversations.
Sunlight is said to be the best of disinfectants!
That's the goal.
Aziz: come on man, if The Fed were to become transparent it's quite obvious what the general consensus would be. Of course they do not want to disclose their shadow operations and books. They rigged the markets -- that we know. But then they broke their very own mandate by rigging FOREIGN markets AND bailing out FOREIGN banks. And where does it state in the 1913 mandate that they must bail out an entire failing sector at the expense of the country? The Fed has consistently broken the law and destroyed the free markets.
The only questions left for Bernank are: What is the point of free markets? Why do you manipulate that which by its very definition must not be rigged and gamed and altered. How can you defend ZIRP when it distorts the entire marketplace such that malinvestement and gambling by very institutions you bail out continuously for years are the very institutions that hinder intelligent investing and entrepreneurship in general. And finally, do you think it is right to bail out foreign banks and governments in order to prop up insolvent US institutions and markets? We know his answers without even asking them.
Some questions off the top of my head for Bernank:
1/ Who did they bail out? Why? Who didn't they bail out? Why? Why did they favour some companies over others?
2/ Which central banks did they engage in swaps with? Why? Did they favour certain central banks over others? Why?
3/ Why did they expand the balance sheet through QE? Why not somehow else? Are they aware that QE enriches the banks at the expense of society? 4/ Why is the Fed not concerned about private debt levels? Why was the Fed not concerned about soaring private debt levels before 2008? Why is their monetary policy focused on reflating private debt levels when it is soaring private debt levels that leads to the bust?
There's a ZH member that has a great nick that explains the answers to your questions...
TPTB_r_TBTF
Of course, there really is no such thing as Too Big To Fail. Too Big To Jail is more like it.
Here is a good blog post. How the GOP stole the nomination from Ron Paul.
http://jaretglenn.wordpress.com/2012/07/31/how-the-republican-party-stol...
"If you follow mainstream election coverage, you might think Mitt Romney has coasted to an honest, easy, well-deserved Republican nomination. Unfortunately for Republican voters, nothing could be further from the truth. The primary process has been an all-out slugfest and many of the delegates Romney has won may be the result of dirty tricks and even election fraud. The following narrative includes links to reports, first-hand testimonials, and video evidence highlighting actions taken by the GOP to ensure a Romney victory, at the expense of fracturing the party just prior to the general election. Party leaders at the county and state level have changed or violated party rules, cancelled caucuses, changed vote counts, thrown out entire counties of votes, counted public votes privately, called-in the SWAT team, and inexplicably replaced Paul delegates with Romney delegates to block Ron Paul from winning the nomination."
Buckle up... er lock 'n' load er something...
Here is a search warrant issued for printed words... I have no love for Occupy but they certainly have the right to read, write and print as they will.
http://www.indybay.org/newsitems/2012/07/30/18718597.php
"When FBI and Joint Terrorism Task Force agents raided multiple activist homes in the Northwest last week, they were in search of “anti-government or anarchist literature.”
The raids were part of a multi-state operation that targeted activists in Portland, Olympia, and Seattle. At least three people were served subpoenas to appear before a federal grand jury on August 2nd in Seattle.
In addition to anarchist literature, the warrants also authorize agents to seize flags, flag-making material, cell phones, hard drives, address books, and black clothing.
The listing of black clothing and flags, along with comments made by police, indicates that the FBI may ostensibly be investigating “black bloc” tactics used during May Day protests in Seattle, which destroyed corporate property.
If that is true, how are books and literature evidence of criminal activity?"
"If that is true, how are books and literature evidence of criminal activity?"
Because they are evidence of having the wrong thoughts.
Don't mind me... Just going off here.
Chinese Teen Kills 8 in Knife Attack.
Clearly here in the US we need to ban evil black assault knives! At the minimum we need to stop internet sales of knives. We should absolutely start federally regulating knife dealers. I'm scared, I think my neighbors have a whole set of black steak knives. I've got 911 on speed dial though so I should be ok... right?
http://news.yahoo.com/chinese-teen-kills-eight-knife-attack-reports-1026...
.
You're forgetting about baseball bats. We need federal regulation to ban aluminum assault bats, and strict licensing, registration, and background checks for any hardwood bats. Additionally, balsa wood bats and hollow plastic fungo bats should only be sold to those over the age of 21, after an appropriate waiting period.
FOR THE CHILDREN!!!
"Lack of Transparency" is a euphemism for Secrecy. The secrecy is to hide the crime. The criminals are our leaders. The voters are their suckers.
audit for sure, then sue the fed...and each member of the board...then end the fed. leave the building as a museum, a reminder, as a forced labour camp is left standing.
the fed should die, go extinct. fascism should die and the earth be salted whence it stood. anything less accomplishes nothing.
I was hoping for a video of RP moping the floor with BB...
Try this one.
Harry Reid - Audit the FED
http://www.youtube.com/watch?v=oXOsZ7Ad7dM
Harry Reid is an asshat, a quizzler. The biggest hipocrite in a corrupt gang of hipocrites.
The real question should be why even have the federal reserve in the first place? I for one think that central banks are very unnecessary and even a detriment, but then again it's more important what you think.
the reasons are simple: 1. a central bank allows a government to switch from a commodity-backed currency to fiat when the need arises - which is usually war. or simple lazyness. or whatever. anyway, it works like magic, so it's cool and the country can fund whatever it wants without making economies (for a while). not long ago people expected the government/CB to switch back when the need abated, but our society has stopped thinking in those terms, hence politics is all for satisfying all needs, immediately. the very verb economize is not used anymore by economists
2. if country A has no CB and the others have one, A has an handicap and feels insecure. that's why we have 110 blasted central banks on the planet. though if you don't have an own CB, then you are usually using the reserve currency. the rule is: bad money drives good money away
3. "the federal reserve" meme is incorrect, it's a system. there are 12 Federal Reserve Banks, led to charge by the incomparable NY-FED, in the the same way as the ECB system is composed by 17 central banks, slowed down by the BuBa
4. central banking is easy. found a CB, market your currency, debase your currency, and chances are that for many years or even decades nobody really notices. can't leave this business to private market partecipants, who knows what they would do with it... oh, they did. it's called derivatives market
If the Federal Reserve Bank (a private banking cartel) has done nothing wrong or unethical, why not let everyone know exactly where all the money (that the U.S. taxpayers are responsible for) went?
I mean, with the NDAA now passed, only those who have "done something wrong" have any reason to be against such laws and such transparency, right...
< crickets >
File the RICO acts. Fuck the Senate.
The senate? Just the senate? The ONLY reason the house passed ron pauls bill was to entice mr paul into supporting romney. Shirley mr paul will be reciprocating in some fashion.........the house knows full well this bill has no chance of making any progress.....the house would never have passed it otherwise.....more bread and circuses.....dont believe that the republicans have suddenly cut the strings to their puppet masters........
It's a bad grammar to use words FED and transparency in the same sentence, unless the words lack off are used in between.
....oxymoron.
I saw a headline quote from Paul's appearence on Kudlow this week: "We should audit the Fed, not end it."
Then why the hell did he write a book titled, "End the Fed"?
And obviously it is not only unconstitutional to have a our money supply, or what the Fed calls the money supply (when it is nothing more than ones and zeros in a computer) run by a clique of private bankers.
END THE FED
Auditing will be a good foot in the door.
The camel's nose under the tent, if you will.
And who will do the audit? Aurther Anderson?
The 9/11 Commission. Coup and Cover still in effect. Bailouts are just a clever way of hiding a crime.
or a camel toe under the tent (that's a labia majora for you all in DC)
"Bernanke - We fully accept the need for transparency and accountability, but it is a well-established fact that an independent central bank will provide better outcomes."
Dear John Aziz,
The Fed is NOT independent and it will never be transparent. Please explain what "accountability" means with regard to the Fed.
Thank you.
P.S. - Where do I send my $10MM bill for services rendered?
The way everything seems to be converging around the 100 year anniversary of the fed is amazing. The loss of faith in all American institutions, the complete erosion of the dollar's buying power, the dependence of people on the government,....the list goes on and on. The planned take down has been well orchistrated that is for sure.
If the take down happens, the take over failed.
I watched "Downfall" the other night, in desperate times, desperate people do desperate things.
Theoretically, what constitutes a conspiracy?
There is confluence of interests between the heads of global corporations, certain global organizations (such as NATO and the IMF), various corrupt politicians, dependent dictators and sheikhs, and the world's wealthy elite.
The "conspiracy" element enters in when their plans and policies are formulated behind closed doors, out of the public eye, and typically presented in a deceitful manner to the public.
Is it a conspiracy or a racket?
Both, here is the Conspiracy:
http://media.adamdodson.org/var/resizes/Control-Structures/Illuminati%20...
Here is the Racket:
http://www.businessinsider.com/the-mysterious-government-bank-that-congr...
Armed with that knowledge, Hedge accordingly. The Great Sumerian God returns.
The FED works to protect and further the best of interests of US citizens residing in the US of A.
They have done quite well.
What the FED agents can not do: create the lacking resources to maintain the US citizen middle class in their life of entitlements.
Wrong. The Fed has allowed politicians to buy votes in the short term while messing up the future.
The US history is one of Ponzis.
19th century, an 'American' Ponzi helped the US citizen middle class. No FED.
Bribing the electorate is part of 'Americanism' You dont need a FED to do it as shown by the US.
And yes, it quited messed up the future with several wars, including two WWs, communism taking over in Russia, China, Cambodia, etc...
AnAnonymous, the croaking stinktoad of Chinese citizenism, asserted:
Could you be a little more specific with the details, perhaps even provide some supporting documentation or evidence? Otherwise, the history of your duplicitous eternal nature would point to this being another one of your hallucinatory creative histories.
If you mean PONZI scheme by using central banking branch banks as a tool to finance communism you may be on to something. Who were the European and U.S banks that financed Lenin's and Mao's revolutions? (now this is not a trick question) C'mon buddy I know you can answer this question in Alinsky style subterfuge.
Obviously stoned out of his feeble little mind, AnAnonymous said:
That has to be the looney tooniest thing you've ever said, even moreso than your time traveling tales of Easter Island.
Have you been mixing jimsonweed with your opium?
It is really unsconscionable that we cannot get simple things like this done. The most transparent Presidency in history, gimme a fuckin break, and who was it who covertly bombed Bahrain, and Yemen, must have been Bush? (just to be clear, I think Bush is a war criminal, but Obama has followed lockstep).
End the FED and install a money system. We don't have one, and it sucks.
The Usuary debt system is only "renting money". It has to END.
Read history, Andrew Jackson broke up these same assholes in the 1870s. It was called US Bank then.
But beware popping the biggest credit bubble in world history(40 years in the making). You will see deflation like a hell wind.
We are Fuk@#$, actually. HAH
Nuff said
It was the 1830's...Ol' Hickory!
Phoque the Fed.
PIGS rates rise again
SPAIN over 7%
and now?
http://www.cds-info.com/
As more and more people stop paying taxes the fed and this govt goes away. Look at tax revenues, the only ones left paying taxes will be the ones trying to gain the system. Starving the beast is the start to the revolution.
How can the FED hide skeletons in their closet if the door is transparent?
Sadly, we have allowed the Federal Reserve to become the driving force behind the world banking cartel, a criminal organization that controls international bourses, foments wars, manipulates world currencies, selects and grooms world leaders, etc. For this reason, the Federal Reserve will never allow a full audit of its books. Do you think the U.S. government would allow an audit of its books? If that were to happen, and the American public was to learn about the criminal accounting that takes place, there would be another revolution. Perhaps that's what's needed?
Well done congress, don't let a private corp. tell you what they like and don't like, and what information you or the people you represent feel is in thier best interest to know.
And God bless RON PAUL for pressing this issue.
This is what my tax dollars finance?... DONT worry bernanke said the subprime mortage defaults wouldn't effect the broader economy.....
I'll bet the Fed is stockpiling ponies, those greedy bastards.
Here's some more transparency.
http://www.itproportal.com/2012/08/02/facebook-reveals-it-has-more-than-...
I said this MONTHS ago - right when the IPO happened. There are more fakes than this I can assure you.
People are selling fake friends so you can make your business look popular.
It's like the Olympics 'selling out' of tickets - and then there are loads of empty seats when the games are on - and touts selling tickets outside.
This is what happens when the marketing dept. gets carte blanche to talk crap.
US citizens economics is based on consumption, not conservation.
Everything goes to boost consumption, including ghost consumers.
This is the way it works in US citizen economics.
There is no such thing as "US citizens economics". There's good economic analysis, and then there's the bad one. The latter applies to you.
'American' economics exist. The core of it is Smithian economics.
Good, bad. It is relative to the analysis framework. Economics do not exist suspended in a world of aether.
Yes, "Smithian". If you would know anything about the US, you'd know that Adam Smith has now a pretty bad rep and people dispise free markets, so no, the prevailing analysis in the US is NOT "Smithian".
.
...unlike your tangential association with reality.
Ah, and nothing like that occurs in China?
Guess all of those ghost cities you folks built don't count...
I was reviewing the Treasury's quarterly refunding documents that were published on August 1. A couple of things are apparent.
1. There will be some big seven-year bond auctions coming up in August (on the 23rd) and in September.
2. The demand cited in the TBAC discussion charts indicates a significant increase in demand from "investment funds" and a decrease in demand from all other purchasers.
3. New debt issuance will be concentrated in the 7-year bond for the remainder of the year.
My questions for all the brains here on zerohedge:
1. Who are the mysterious "investment funds" and are they using Federal Reserve (QE) money to buy bonds?
2. If they are using QE money, is the money from QE2, or will there have to be a surreptitious QE3 to meet the August/September auction needs?:
3. Why is new debt issuance being concentrated in the 7-year? The purpose of Operation Twist, I thought, was to move debt into the 10 and 30 year bonds.
Zero hedge has not been focused on these documents produced by the Treasury and TBAC recently. I think it is time we all started asking questions again (and not just bemoaning the debt and the flagrant fiscal fraudulence).
"If they are making the right decisions, they should at least have the confidence to try and explain them."
The correct course of action always endures the stress of public scrutiny... But then again- every ship has a Captain for a reason.
Bit like auditing the mafia...donchathink?!!
EXACTLY like auditing the mafia except this one is jewish controlled instead of Italian or russian or any other little mafia nationalities.
Why does everyone stop before they reach the top of the criminal cartel? blame on governments blame on central banks who in the fuck do you think owns these? The jewish mafia and the 5 bankster family's. Our governments could end it all, just takes some balls. All of the shit these mobsters pull on a planetary scale are already illegal its just that the governments gave them a waiver. FUCKIN REVOKE IT!
Government is way too big. Why do we need a Senate and a House of Reps? Wish we could just abolish the Senate. Then, the reps will do the local peoples will or be voted out by the locals.
Take a few minutes to learn about,
The American Form of Government.
http://www.youtube.com/watch?v=DioQooFIcgE
You Didn't Audit The Fed says Obama. Actually he had a very different monster in Mind...
does Bernanke come with bolts?
YouTube - "You Didn't Build That Frankenstein!' sez President Obama
Ben is afraid that regular audits would politicize the Fed. In fact, he's afraid to show it's already a political tool used for bi-partisan state expansion.
The most obvious sign of the deterioration of the U.S. is the fact that PEOPLE should expect PRIVACY and governments, corporations, and regulators should be TRANSPARENT.
It's a dangerous road we are on and without some kind of systemic breakdown, one we will be forced to ride out. Who exactly authorized Stellar Wind? Does anyone see the link between that name and the virus FIRE? Lamposts with FACIAL RECOGNITION? I'm not even being conspiratorial - that shit is REAL.
If IBM has their way, one day a human will stand before a judge named WATSON for their sentence.
the system in its current state is so messed up, there's only one thing to do......
pull it
Who authorised it? US citizen middle class.
In world wisdom, it is well known that thiefts are distrustful people.
Thiefts live in the fear that what they stole is reclaimed from them.
It is very easy to sell to thieves any kind of security system because they push a heavy demand of it.
The thieft who manages the biggest heist in history will also be highly interested in the best safe in the world.
And US citizens'history is one of theft. Time to secure the loot as the world is running out of people to thieve: the thieves themselves are the only people left to thieve from.
OK I get it: middle class = thieves.
I get it your are a poor sap from some foreign country. That said, without capitalism and the works of a lot of people in the "middle class", you probably could not afford the computer you are using to post your "comments".
The 'American' middle class has undubiously robbed its way up.
The middle class has robbed the upper class blind and has robbed the lower class blind.
This is part of the US citizen miracle.
Okay, I'll bite...
I own three properties, two paid for and rented out, the proceeds from which are paying the third off.
I own two vehicles, fourteen and twenty two years old but well-maintained.
Most purchases are in cash; the rest are paid off monthly.
All of this is the result of working as many hours as I can, at as many jobs as I can handle, and being a good steward of those blessings bestowed on me.
Pray tell, whom have I robbed?
According to AnAnonymous, you've robbed all of humanity, past, present, and future.
Trying to have a rational discussion with him is futile. One of his mental disorders is a fetish for disagreement. If you were to agree with him on anything, he would still disagree with you. Additionally, due to the constant flux of his perception of reality, he would see no inconsistency on his part.
STFU
Retreating ever further from reality, AnAnonymous stated:
You poor little feller. It must be miserable for you, not being able to discern between reality and your feverish nightmares.
Even your strawsthieftsmen are becoming more enfeebled. Poor little Chinese citizenism feller, wandering around all lost through a burning brain, not knowing which roadside to shit on.
STFU
More US citizen show.
The FED works well by US citizen standards.
The audit if done will reveal this.
The problem is elsewhere, US citizens know it.
But, by focusing attention on a part of the system that is sane, US citizens are buying time.
Looking for malfunction can be performed through many routines, one being testing one part after the other.
By struggling over the audit of the FED, US citizens stress a healthy part, postponing the questioning of the whole system (US citzenism)
So Bernanke says that the FED works properly, Paul says it does not (US citizens work in duos, remember)
After a lengthy investigation, it will be found out what is already known: the FED works properly.
Two consequences:
The paranoids (numerous among US citizens due to their history of theft) will not be relieved by this information and will keep claiming that the FED is messed up.
The others will enjoy renewed confidence in the system, forlasting the effects of it.
The issue is not the FED. The issue is 'Americanism'
Uh, no.
Huh, yes.
Behold the finely-honed and erudite debating skills of the typical Chinese Citizenism citizen! Make me laugh!
ZIONISM u StupidFuckinChinkAssHole
Poor little feller, AnAnonymous looks like he's really gone off the deep end this time:
That you, parangong of Chinese citizenism stinkfinger smellery, consider the Fed a sane part of the system, is somehow very something.
But hey, I guess your increasing insanitation is to be expected. It is part of Chinese citizenism opium consumption scheme. The very fact that Chinese citizenism citizens led by themselves to the current situation with very little help from the rest of humanity has to be denied.
But you must realize, you eternally evil US Citizen, that the FED is an agency of statist central planning, and there is NOTHING that a servile Chinese Citizenism citizen loves more than economic central planning at the hands of an oligarchic and unaccountable government! It gives them that warm and fuzzy feeling that only roadside crapmongery can otherwise provide.
Wait until the EU pulls all the currency swaps from the fed.
(They are backed only by faith in each other's currency.)
Then,
***BAM***
The Euro goes away and with it BILLIONS of $ in Swap cash.
They get the bucks and we get pretty toilet paper..
WE NEED TO HAVE THE EU BACK THEIR CURRENCY SWAP WITH GOLD OR TELL THEM TO GET LOST.
Dr. Spock
How do people swallow this horse pill? They're not the CIA or DHA; they are our central bank. What do they need information security for? It's so they can rob us; that's the only thing that makes any sense.
When 15 trillion dollars of "our" "money" flow through an organization we shoud get to know where went. Of course Ron Paul is right. (He just about always is) We must know what they are doing. We must have transparency.
Like so many other ridiculous notions, the current lack of transparancy at the FED speaks to the amazing power of propaganda. How incredibly ineffective is the ability of the common people to think critically. It's pretty fucking impressive how well that mind control shit works.
The Federal Reserve doesn't want it's Ponzi game revealed. Many of people in this country would realize at over the nearly 100 years the bankersters have been fleecing the wealth of the US through the Federal Reserve. Enough of the Federal Reserve's nearly 100 years of leeching, the host is dying.
100 years?
The US nineteen century was built on a Ponzi:that there would always be more Indian lands to be transfered.
The Ponzi matured in several wars, including two world wars, depressions and recessions...
If something, the FED was created to enable a Ponzi to be run on a global scale. A ponzi that has largely benefited US citizen middle class.
It has profited the baby boomers, not so much the middle class who are NOT baby boomers ie: me.
The baby boomers are post WW2.
'American' Ponzis have been run way before the boomers.
And yep, you know, depletion of the physical world might something that exists, despite the claims of 'Americans' it does not: time for infinite growth.
STFU u SFCAH
Contradicting himself, AnAnonymous said:
Transfered to whom? US citizens? But you've already said that the Indians are US citizens.
Can someone explain to me what Ron Paul thinks a Federal Reserve audit would show?
Does he think they have a much bigget balance sheet of US debt than they claim?
1/ Who did they bail out? Why? Who didn't they bail out? Why? Why did they favour some companies over others?
2/ Which central banks did they engage in swaps with? Why? Did they favour certain central banks over others? Why?
3/ Why did they expand the balance sheet through QE? Why not somehow else? Are they aware that QE enriches the banks at the expense of society? If not, why not?
Etc.
It would show that the whole thing is a confidence game.
Aziz is normally a sharp guy... the Fed is OBVIOUSLY in bed with the power elites and is doing their bidding, actions that if seen in daylight would probably lead to expulsions of many players including the Bernank... and possible prosecutions. Here is an idea... if Obama is really for the people... how about an exec order to do a DEEP audit of the Fed and our supposed gold reserves? If he can protect his boy Holder,l how about one for the people?
More than anything, he is a US citizen.
That includes, trying to force feed big lies like the other day on the guy not threatening violence.
Sharp people are able to correct their views and actions when they are too obvious.
US citizens are entangled in the same routine.
Brutaliy works as long as you are the most brutal.
Why does Tyler keep you around? Is he bored? Did he lose his idealism after kicking out trav? Is there an ultimate, take-home point you would like us to consider and act upon?
Getting an answer to any of those questions would be great. Thanks in advance.
Trav's Theme http://www.youtube.com/watch?v=nnpEI3njoeo
I miss trav. His stuff was angry and repetitive at times, but he made people think and was preferable to what we see now in the comments section.
But perhaps in this new world order of Zero Hedge, Tyler has just said fuk it, let anyone in. Reading ZH today is the equivalent of seeing the most beautiful girl ever (the articles by Tyler and friends) but then watching her get gangbanged by a bunch of street thugs (many of the comments here).
Don't get me wrong - there are still a lot of witty, insightful and decent commenters here. I just wonder if there's a point to all this...is this just a place to amuse ourselves until Mad Max hits (protip: it's not coming) or are we working towards making things better?
Ah, nevermind. I see 'Neethgie' just got three greens for saying in the Euro article:
LOL, great intro, was perfect.
As if that comment many anything to anyone.
I, for one, do NOT miss Trav at all --- he was a classic troll who continually hijacked and cluttered threads with his racist and hate-filled bile. Much as AnAnonymous does as well, merely substituting "US Citizens" for Trav's nigggers, and incoherent and mangled Chinese product-manual Engrish for Trav's multitudinous obscenities.
Maybe because it is even more entertaining to read US citizens, those grand champions of freedom of speech, calling for the banishment of a poster?
Duplicity of US citizens has fun sides...
Per my analogy above, you would be the super-hairy, super-gross guy who dropped the 9th load on Tyler.
There is no need to banish trolls.
Killing them works just as well, and provides a much more lasting solution.
http://www.zerohedge.com/news/first-few-days-2012-us-mint-sells-more-silver-all-most-months-2011#comment-2052242
"Given the execrable record of personal attacks, constant diversion of discussion, and egregious trolling by this individual, I am going to ask of the other members here something that I have never done before: please petition Tyler to ban this hate-filled, malicious troll, as I have just done myself. You can contact Tyler, and report Trav7777's constant and ongoing abuse of this forum, at abuse@zerohedge.com."
Tue, 01/10/2012 - 19:54 | 2052242 akak
And your point?
Do you actually think that your little exercise in post sleuthing somehow "exposes" me or shames me? Far from it! I stand by my former call to ban a demonstrated troll, just as I stand by my ridicule and contempt of all those (such as yourself, apparently) who refused to acknowledge the fact of Trav's trollery, or even the very existence of online trolls themselves, in the name of some misconstrued and cowardly "freedom of speech" doctrine as applied to a PRIVATE online forum.
How can moral cowards such as you NOT admit the existence of purposely disruptive and malicious online posters?
You are being disingenuous. You say there is no need to banish trolls, yet your actions demonstate the opposite. I just enjoy pointing that out.
And there goes the ad hominem.
Yes, and with the over-the-top addendum that killing them is better instead, I was clearly being sarcastic, something which your limited intellect was obviously incapable of recognizing. So fuu too.
"I was being sarcastic", the last bastion of the pwnd.
As if your spineless defenses of Trav in the thread you linked above were not enough, thanks for providing here yet more evidence of the sort of limited intellect and fundamental dishonesty with which I was already assuming I was dealing.
You mean this one: http://www.zerohedge.com/news/first-few-days-2012-us-mint-sells-more-silver-all-most-months-2011#comment-2058065
.
...and yet you still cling to dullardry.
AnAnonymous is entangled in the same US citizenism routine.
Poor little feller, his world must be a roller coaster ride of bewilderment.