This page has been archived and commenting is disabled.

Guest Post: We Should All Love Fed Transparency

Tyler Durden's picture





 

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.

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.

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.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 08/02/2012 - 11:42 | Link to Comment malikai
malikai's picture

Audit, then End the Fed.

They don't want transparency because it will end up like Perestroika.

Thu, 08/02/2012 - 11:46 | Link to Comment john39
john39's picture

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.

Thu, 08/02/2012 - 11:51 | Link to Comment Precious
Precious's picture

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?

Thu, 08/02/2012 - 11:51 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Those who believe the Fed’s monetary policy has worked should welcome transparency... If not, then transparency will help us have a better debate about the road forward.

Stop it with the damn logic!

Thu, 08/02/2012 - 11:53 | Link to Comment camaro68ss
camaro68ss's picture

The day an audit starts is the day all the bankers head to there bunkers for the end game

Thu, 08/02/2012 - 11:57 | Link to Comment LedMizer
Thu, 08/02/2012 - 12:05 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

 

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

Thu, 08/02/2012 - 12:07 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Why shouldn't monetary policy be up for political debate?  It is the fucking taxpayer's money after all? 

Thu, 08/02/2012 - 12:23 | Link to Comment boogerbently
boogerbently's picture

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.

Thu, 08/02/2012 - 12:27 | Link to Comment RSloane
RSloane's picture

You're not alone, I will as well...again.

Thu, 08/02/2012 - 12:39 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Likewise.

Thu, 08/02/2012 - 13:51 | Link to Comment Paul Atreides
Paul Atreides's picture

Bring a Sharpee, you're going to need something permanent for that Diebold screen.

Thu, 08/02/2012 - 12:31 | Link to Comment A Nanny Moose
A Nanny Moose's picture

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

Thu, 08/02/2012 - 15:07 | Link to Comment CompassionateFascist
CompassionateFascist's picture

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.   

Thu, 08/02/2012 - 18:26 | Link to Comment mkkby
mkkby's picture

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.

Thu, 08/02/2012 - 12:18 | Link to Comment jvetter713
jvetter713's picture

Thank you for posting that.

Thu, 08/02/2012 - 16:41 | Link to Comment rufusbird
rufusbird's picture

Thank you posting that. The next thing I will do is write a short letter thanking my Congressman for his brave Yea vote!

Thu, 08/02/2012 - 11:58 | Link to Comment BoNeSxxx
BoNeSxxx's picture

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?

Thu, 08/02/2012 - 12:02 | Link to Comment LawsofPhysics
LawsofPhysics's picture

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.

Thu, 08/02/2012 - 12:07 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Jackson vs. Biddle 2.0

Thu, 08/02/2012 - 12:08 | Link to Comment LawsofPhysics
LawsofPhysics's picture

About damn time.  bring it.

Thu, 08/02/2012 - 12:18 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

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!

Thu, 08/02/2012 - 12:23 | Link to Comment prains
prains's picture

Oligarchmney 2012

Thu, 08/02/2012 - 12:24 | Link to Comment prains
prains's picture

Olifartonme 2012

Thu, 08/02/2012 - 12:29 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:36 | Link to Comment BlueCollaredOne
BlueCollaredOne's picture

Two words: "The Laogai"

 

As usual, your post deserves a ROR.  Ha ha ha, you vellllly funny.

Thu, 08/02/2012 - 13:31 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, squatting and dropping another stool, identical in every way with his previous droppings:

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.

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

The ethnical cleansing is still possible though. One has only to find the Indians to match.

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.

Thu, 08/02/2012 - 13:47 | Link to Comment 4horse
4horse's picture

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

Thu, 08/02/2012 - 15:11 | Link to Comment CompassionateFascist
CompassionateFascist's picture

Somewhere in Peking, a lost puppy is barking. Somewhere in Peking, anonymouse salivates and rises from his computer...

Thu, 08/02/2012 - 12:22 | Link to Comment fuu
fuu's picture

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."

Thu, 08/02/2012 - 12:35 | Link to Comment A Nanny Moose
A Nanny Moose's picture

"...until forfeiture of franchise for violation of law."

Something about stable prices comes to mind...

Thu, 08/02/2012 - 13:44 | Link to Comment BoNeSxxx
BoNeSxxx's picture

You are correct, sir.

 

So much for 'wishful thinking my way to reality'

 

Guess it's back to drinking...

Thu, 08/02/2012 - 12:23 | Link to Comment Bring the Gold
Bring the Gold's picture

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.

Thu, 08/02/2012 - 12:09 | Link to Comment jayman21
jayman21's picture

"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?

Thu, 08/02/2012 - 13:10 | Link to Comment Canaduh
Canaduh's picture

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.

Thu, 08/02/2012 - 12:37 | Link to Comment tarsubil
tarsubil's picture

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.

Thu, 08/02/2012 - 11:50 | Link to Comment idea_hamster
idea_hamster's picture

We can’t have a real debate about policy unless we have access to all the data about decisions.

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.

Thu, 08/02/2012 - 12:03 | Link to Comment Aziz
Aziz's picture

I'm just trying to illustrate the reality that defenders of the Fed's secrecy are more or less advocating technocratic fascism.

Thu, 08/02/2012 - 12:39 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

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.

Thu, 08/02/2012 - 23:57 | Link to Comment idea_hamster
idea_hamster's picture

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!

Thu, 08/02/2012 - 11:51 | Link to Comment Dr. Engali
Dr. Engali's picture

That's the goal.

Thu, 08/02/2012 - 12:21 | Link to Comment vast-dom
vast-dom's picture

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.

Thu, 08/02/2012 - 12:33 | Link to Comment Aziz
Aziz's picture

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?

 

 

Thu, 08/02/2012 - 14:06 | Link to Comment OneTinSoldier66
OneTinSoldier66's picture

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.

Thu, 08/02/2012 - 12:24 | Link to Comment Abiotic Oil
Abiotic Oil's picture

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."

Thu, 08/02/2012 - 12:41 | Link to Comment Abiotic Oil
Abiotic Oil's picture

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?"

Thu, 08/02/2012 - 12:47 | Link to Comment Chump
Chump's picture

"If that is true, how are books and literature evidence of criminal activity?"

Because they are evidence of having the wrong thoughts.

Thu, 08/02/2012 - 12:54 | Link to Comment Abiotic Oil
Abiotic Oil's picture

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...

Thu, 08/02/2012 - 13:45 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

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.

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.

Thu, 08/02/2012 - 14:26 | Link to Comment akak
akak's picture

FOR THE CHILDREN!!!

Thu, 08/02/2012 - 13:02 | Link to Comment GottaBKiddn
GottaBKiddn's picture

"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.

Thu, 08/02/2012 - 13:25 | Link to Comment emersonreturn
emersonreturn's picture

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.

Thu, 08/02/2012 - 11:43 | Link to Comment buzzsaw99
buzzsaw99's picture

the fed should die, go extinct. fascism should die and the earth be salted whence it stood. anything less accomplishes nothing.

Thu, 08/02/2012 - 11:43 | Link to Comment UTICA CLUB XX PURE
UTICA CLUB XX PURE's picture

I was hoping for a video of RP moping the floor with BB...

 

Thu, 08/02/2012 - 13:56 | Link to Comment Paul Atreides
Paul Atreides's picture

Try this one.

Thu, 08/02/2012 - 11:43 | Link to Comment Hype Alert
Hype Alert's picture

Harry Reid - Audit the FED

http://www.youtube.com/watch?v=oXOsZ7Ad7dM

Thu, 08/02/2012 - 13:47 | Link to Comment OpenEyes
OpenEyes's picture

Harry Reid is an asshat, a quizzler.  The biggest hipocrite in a corrupt gang of hipocrites.  

Thu, 08/02/2012 - 11:43 | Link to Comment AldoHux_IV
AldoHux_IV's picture

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.

Thu, 08/02/2012 - 12:26 | Link to Comment Ghordius
Ghordius's picture

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

Thu, 08/02/2012 - 11:48 | Link to Comment LawsofPhysics
LawsofPhysics's picture

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 >

Thu, 08/02/2012 - 11:45 | Link to Comment q99x2
q99x2's picture

File the RICO acts. Fuck the Senate.

Thu, 08/02/2012 - 11:56 | Link to Comment kito
kito's picture

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........

Thu, 08/02/2012 - 11:46 | Link to Comment Abraxas
Abraxas's picture

It's a bad grammar to use words FED and transparency in the same sentence, unless the words lack off are used in between.

Thu, 08/02/2012 - 12:25 | Link to Comment boogerbently
boogerbently's picture

....oxymoron.

Thu, 08/02/2012 - 11:48 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

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

Thu, 08/02/2012 - 11:59 | Link to Comment Aziz
Aziz's picture

Auditing will be a good foot in the door.

Thu, 08/02/2012 - 12:10 | Link to Comment Overfed
Overfed's picture

The camel's nose under the tent, if you will.

Thu, 08/02/2012 - 12:15 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And who will do the audit?  Aurther Anderson?

Thu, 08/02/2012 - 12:17 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

The 9/11 Commission. Coup and Cover still in effect. Bailouts are just a clever way of hiding a crime.

Thu, 08/02/2012 - 13:42 | Link to Comment Ying-Yang
Ying-Yang's picture

or a camel toe under the tent (that's a labia majora for you all in DC)

Thu, 08/02/2012 - 11:51 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"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?

Thu, 08/02/2012 - 11:49 | Link to Comment Dr. Engali
Dr. Engali's picture

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.

Thu, 08/02/2012 - 11:53 | Link to Comment Hype Alert
Hype Alert's picture

If the take down happens, the take over failed. 

I watched "Downfall" the other night, in desperate times, desperate people do desperate things.

Thu, 08/02/2012 - 11:49 | Link to Comment rwe2late
rwe2late's picture

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?

Thu, 08/02/2012 - 12:15 | Link to Comment Money 4 Nothing
Money 4 Nothing's picture

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.

 

Thu, 08/02/2012 - 12:20 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:54 | Link to Comment alangreedspank
alangreedspank's picture

Wrong. The Fed has allowed politicians to buy votes in the short term while messing up the future.

Thu, 08/02/2012 - 12:59 | Link to Comment AnAnonymous
AnAnonymous's picture

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...

Thu, 08/02/2012 - 13:55 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous, the croaking stinktoad of Chinese citizenism, asserted:

19th century, an 'American' Ponzi helped the US citizen middle class. No FED.

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.

Thu, 08/02/2012 - 14:58 | Link to Comment mqg25
mqg25's picture

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.

Thu, 08/02/2012 - 13:59 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Obviously stoned out of his feeble little mind, AnAnonymous said:

The FED works to protect and further the best of interests of US citizens residing in the US of A.

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?

Thu, 08/02/2012 - 11:50 | Link to Comment legal eagle
legal eagle's picture

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).

Thu, 08/02/2012 - 11:53 | Link to Comment printmoremoney
printmoremoney's picture

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

Thu, 08/02/2012 - 12:10 | Link to Comment Hooter Shaker
Hooter Shaker's picture

It was the 1830's...Ol' Hickory!

Thu, 08/02/2012 - 11:55 | Link to Comment monmick
monmick's picture

Phoque the Fed.

Thu, 08/02/2012 - 11:56 | Link to Comment evolutionx
evolutionx's picture

PIGS rates rise again

 

SPAIN over 7%

and now?

http://www.cds-info.com/

 

Thu, 08/02/2012 - 11:57 | Link to Comment gorillaonyourback
gorillaonyourback's picture

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.

Thu, 08/02/2012 - 11:59 | Link to Comment ebworthen
ebworthen's picture

How can the FED hide skeletons in their closet if the door is transparent?

Thu, 08/02/2012 - 11:59 | Link to Comment Brother Sebastian
Brother Sebastian's picture

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?

Thu, 08/02/2012 - 11:59 | Link to Comment Theta_Burn
Theta_Burn's picture

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.....

Thu, 08/02/2012 - 11:59 | Link to Comment AcidRastaHead
AcidRastaHead's picture

I'll bet the Fed is stockpiling ponies, those greedy bastards.

Thu, 08/02/2012 - 12:01 | Link to Comment writingsonthewall
writingsonthewall's picture

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.

Thu, 08/02/2012 - 12:19 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:55 | Link to Comment alangreedspank
alangreedspank's picture

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.

Thu, 08/02/2012 - 13:01 | Link to Comment AnAnonymous
AnAnonymous's picture

'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.

Thu, 08/02/2012 - 13:04 | Link to Comment alangreedspank
alangreedspank's picture

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".

Thu, 08/02/2012 - 14:04 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Economics do not exist suspended in a world of aether.

...unlike your tangential association with reality.

Thu, 08/02/2012 - 13:12 | Link to Comment takinthehighway
takinthehighway's picture

Ah, and nothing like that occurs in China?

Guess all of those ghost cities you folks built don't count...

Thu, 08/02/2012 - 12:02 | Link to Comment BalanceOrBust
BalanceOrBust's picture

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). 

 

Thu, 08/02/2012 - 12:03 | Link to Comment Random_Robert
Random_Robert's picture

"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.

Thu, 08/02/2012 - 12:04 | Link to Comment rotagen
rotagen's picture

Bit like auditing the mafia...donchathink?!!

Thu, 08/02/2012 - 14:32 | Link to Comment WTFx10
WTFx10's picture

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!

Thu, 08/02/2012 - 12:05 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

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.

Thu, 08/02/2012 - 12:43 | Link to Comment Harbanger
Harbanger's picture

Take a few minutes to learn about,

The American Form of Government.

http://www.youtube.com/watch?v=DioQooFIcgE

Thu, 08/02/2012 - 13:45 | Link to Comment Duke of Con Dao
Duke of Con Dao's picture

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

Thu, 08/02/2012 - 12:08 | Link to Comment alangreedspank
alangreedspank's picture

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.

Thu, 08/02/2012 - 12:13 | Link to Comment poor fella
poor fella's picture

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

Thu, 08/02/2012 - 12:16 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:59 | Link to Comment alangreedspank
alangreedspank's picture

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".

 

Thu, 08/02/2012 - 13:03 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 13:28 | Link to Comment takinthehighway
takinthehighway's picture

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?

 

Thu, 08/02/2012 - 14:19 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

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.

Thu, 08/02/2012 - 14:24 | Link to Comment WTFx10
WTFx10's picture

STFU

Thu, 08/02/2012 - 14:12 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Retreating ever further from reality, AnAnonymous stated:

Who authorised it? US citizen middle class.

You poor little feller. It must be miserable for you, not being able to discern between reality and your feverish nightmares.

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.

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.

Thu, 08/02/2012 - 14:23 | Link to Comment WTFx10
WTFx10's picture

STFU

Thu, 08/02/2012 - 12:13 | Link to Comment AnAnonymous
AnAnonymous's picture

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'

Thu, 08/02/2012 - 12:48 | Link to Comment alangreedspank
alangreedspank's picture

Uh, no.

Thu, 08/02/2012 - 13:03 | Link to Comment AnAnonymous
AnAnonymous's picture

Huh, yes.

Thu, 08/02/2012 - 14:27 | Link to Comment akak
akak's picture

Behold the finely-honed and erudite debating skills of the typical Chinese Citizenism citizen!  Make me laugh!

Thu, 08/02/2012 - 14:22 | Link to Comment WTFx10
WTFx10's picture

ZIONISM u StupidFuckinChinkAssHole

Thu, 08/02/2012 - 14:34 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Poor little feller, AnAnonymous looks like he's really gone off the deep end this time:

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.

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.

Thu, 08/02/2012 - 14:47 | Link to Comment akak
akak's picture

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.

Thu, 08/02/2012 - 12:14 | Link to Comment Dr Spock
Dr Spock's picture

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

 

Thu, 08/02/2012 - 12:15 | Link to Comment Lets_Eat_Ben
Lets_Eat_Ben's picture

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.

 

 

Thu, 08/02/2012 - 12:15 | Link to Comment yogibear
yogibear's picture

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.

Thu, 08/02/2012 - 12:24 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:50 | Link to Comment alangreedspank
alangreedspank's picture

It has profited the baby boomers, not so much the middle class who are NOT baby boomers ie: me.

Thu, 08/02/2012 - 13:05 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 14:20 | Link to Comment WTFx10
WTFx10's picture

STFU u SFCAH

Thu, 08/02/2012 - 14:40 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Contradicting himself, AnAnonymous said:

The US nineteen century was built on a Ponzi:that there would always be more Indian lands to be transfered.

Transfered to whom? US citizens? But you've already said that the Indians are US citizens.

Thu, 08/02/2012 - 12:16 | Link to Comment BalanceOrBust
BalanceOrBust's picture

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?

Thu, 08/02/2012 - 12:28 | Link to Comment Aziz
Aziz's picture

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.

 

Thu, 08/02/2012 - 20:33 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

It would show that the whole thing is a confidence game.

Thu, 08/02/2012 - 12:24 | Link to Comment loveyajimbo
loveyajimbo's picture

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?

Thu, 08/02/2012 - 12:32 | Link to Comment AnAnonymous
AnAnonymous's picture

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.

Thu, 08/02/2012 - 12:40 | Link to Comment Vic Vinegar
Vic Vinegar's picture

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.

Thu, 08/02/2012 - 13:14 | Link to Comment fuu
Thu, 08/02/2012 - 13:57 | Link to Comment Vic Vinegar
Vic Vinegar's picture

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.

Thu, 08/02/2012 - 14:13 | Link to Comment akak
akak's picture

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.

Thu, 08/02/2012 - 13:25 | Link to Comment AnAnonymous
AnAnonymous's picture

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...

Thu, 08/02/2012 - 13:59 | Link to Comment Vic Vinegar
Vic Vinegar's picture

Per my analogy above, you would be the super-hairy, super-gross guy who dropped the 9th load on Tyler.

Thu, 08/02/2012 - 14:02 | Link to Comment akak
akak's picture

There is no need to banish trolls.

Killing them works just as well, and provides a much more lasting solution.

Thu, 08/02/2012 - 14:42 | Link to Comment fuu
fuu's picture

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

Thu, 08/02/2012 - 15:03 | Link to Comment akak
akak's picture

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?

Thu, 08/02/2012 - 15:06 | Link to Comment fuu
fuu's picture

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.

Thu, 08/02/2012 - 15:11 | Link to Comment akak
akak's picture

 

You are being disingenuous. You say there is no need to banish trolls

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.

Thu, 08/02/2012 - 15:18 | Link to Comment fuu
fuu's picture

"I was being sarcastic", the last bastion of the pwnd.

Thu, 08/02/2012 - 15:26 | Link to Comment akak
akak's picture

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.

Thu, 08/02/2012 - 14:46 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Sharp people are able to correct their views and actions when they are too obvious.

...and yet you still cling to dullardry.

US citizens are entangled in the same routine.

AnAnonymous is entangled in the same US citizenism routine.

Poor little feller, his world must be a roller coaster ride of bewilderment.

Do NOT follow this link or you will be banned from the site!