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Get rid of the Fed Reserve. Certainly don't have it as a private company. That's a ing joke on its face.
Ben Bernanke: “The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.”
Alan Greenspan: “Central banks can issue currency, a non-interest-bearing claim on the government, effectively without limit. A government cannot become insolvent with respect to obligations in its own currency.”
St. Louis Federal Reserve: “As the sole manufacturer of dollars, whose debt is denominated in dollars, the U.S. government can never become insolvent, i.e., unable to pay its bills. In this sense, the government is not dependent on credit markets to remain operational.
Get rid of the Fed Reserve. Certainly don't have it as a private company. That's a ing joke on its face.
Spain is not a monetary sovereign, they gave away democratic control of their currency/spending to the EU. That's why they were caught in the austerity trap.
The US is a monetary sovereign of course. The article you linked to missed this point, which is the most important point of all.
Understanding monetary sovereignty is the key to understanding economics.
The Federal Reserve is not a private company.
The Board of Governors of the Federal Reserve System --->>>
Who owns the Federal Reserve?
The Federal Reserve System is not "owned" by anyone. The Federal Reserve was created in 1913 by the Federal Reserve Act to serve as the nation's central bank. The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress.
U ignant.
Some observers mistakenly consider the Federal Reserve to be a private en y because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund.
Yea, people don't own stock for (personal) profit.
Ignant
Who made this decision? Did it work better for others?
Not rhetorical. How do you parse it?
He was kind enough to provide the information you're lacking, and you're still handwaving...Yea, people don't own stock for (personal) profit.
If it's a private company, as you wrongly claim, how do you suggest Congress get rid of the Federal Reserve? Eminent domain? Wouldn't that be socialism?
There's nothing obscure about the Fed, much like every other Central Bank in the world.
ElSpermShielder eager to hide behind facade terms like Central Bank.
I'm kind enough to tell you to stop sperm shielding.
We're discussing the Fed, not me. I understand why you might want to derail the conversation, but you already know that doesn't work.
There's nothing 'facade' about terms like Central Bank. It's plain English.
It's a facade to use it interchangeably with public/private. Stop begging for spoon feedings. It's unbecoming.
You've yet to state your case that the Fed is a private en y.
Again, stop lashing out, and address the subject at hand.
And I won't be doing so. If you want to be that woefully in denial (ignorance), that's not my problem.
I've done you a kindness and told you to stop sperm shielding though.
You calling me ignorant is the least of my worries. It's patently clear to anybody reading this thread who's in denial and ignorant.
You've been presented the information to educate yourself and insist on stupid. That's your choice.
I'm sorry this is happening to you, ElBlako.
Nothing is happening to me. I gave you a chance not to look stupid, you fumbled it. You hate to see it.
Who made the decisions? You know the answer already. Without an alternate time line I cannot say if it worked better since there's only one time line and we're on it.
It was a lever that was pulled knowing full well the ramifications. Either lives matter or they don't. Pick a lane. Either way, we're not in a depression. Tap dance all around that, it's still true.
Did you win the interwebs yet? Tell me how nobody wins even though you try so hard.
I don't have to win anything. For the 3rd time, this isn't about me. Never was. As hard as you try to make it about me, it's not going to work.Did you win the interwebs yet? Tell me how nobody wins even though you try so hard.
NoNo, your trophy came in. It is nice.
It has an inscription: “For making it look easy when you made Derp look stupid after he fumbled.”
Excellent point cpt.
Derp is just being a derp.
Well, well, well, 3.5 years of silence and then this.
Ted Cruz says the swelling national debt will reemerge as a major concern for Republicans
https://news.yahoo.com/ted-cruz-says...144227889.html
lol claiming he "raged" against his party for the debt while approving the unfunded tax cuts, increased military spending, the first covid recovery bill...
Don't rage, just vote against it.
austerity NEVER works.
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