Dwight. Wrote:
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> Alan Green$poon Wrote:
> --------------------------------------------------
> -----
> > Dwight. Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > Alan so where has 9 trillion dollars of
> > americas
> > > tax money gone? the fed is controlling it.
> Also
> > > Thurston had good points, this book will
> > explain
> > > them all?
> >
> > Dwight,
> > No, the publication will not attempt to explain
> > everything. However,
> > in order to understand current policy it is
> > necessary to understand
> > the structure of the Fed. Your suggestion of
> > having "no Fed" is not
> > uncommon but considering that every country in
> the
> > world has a "Central
> > Bank" says volumes. In other words, we have to
> > have some sort of central
> > banking authority in order to interface with
> the
> > others and establish
> > monetary standards not only for interest rates,
> > but for foreign exchange
> > rates as well. Are you suggesting we allow US
> > banks to establish their own international
> > agreements with foreign commercial banksand
> have
> > no Federal authority or regulation?
>
>
> If that were to happen i would be worried that
> privet banks would lend out too much money and not
> have enough capital to pay back its investors."
Precisely the way I feel as private banks have a tendency to cook the
books when nobody's looking.
>How about a reduced Federal role as a bank. Keeping an
> eye on banks making sure they have enough money.
> As far as interest rates and foreign exchange the
> term "eurodollar" could be looked into as a
> precedent on how to operate w/o the FED.
Sounds good on paper, but what about the other functions of the Fed.
Should they be simply farmed out to other agencies? Keep in mind,
the Fed has no authority not approved by the Congress. Also, the Congress
(and Obama) are in the process of greatly expanding the scope of the
Feds responsibilities.
http://washingtontimes.com/news/2009/jun/19/geithner-faces-skepticism/