Posted by Bret4207 on December 19, 2015 at 07:49:11 from (64.19.90.196):
In Reply to: Troubling Thrusday posted by IaGary on December 17, 2015 at 04:56:45:
Quoting Removed, click Modern View to see
With all due respect, no sir, it does not. Our nations currency originates at the Treasury Dept. They hold the gold that backs our currency, not the Fed, not that there's actually enough gold to back the monetary base we have at this time. The Fed is supposed to be an oversight committee that controls the ebbs and flows of the economy in general so that we don't have "panics" and depressions (ie- it can advise the Treasury to contract or expand the amount of money in circulation or alter the lending rates) and to act as a central clearing house for banks as far as checking and transfers go. Yes, it "lends" money, but it has no wealth of it's own, or at least it isn't supposed to. And that's the sticking point really. We don't know what they have or don't have or who they've lent to or borrowed from. They "lend" borrowed money but we never really know, at least at the average Joe level, where it comes from or what it costs the Fed.
Too many people think the Fed is on "our side". I don't see it that way. The Fed is on the side of the major power brokers and central banks. They are really more of a world bank player than a US entity anymore. I guess I'm just not the trusting type when it comes to a few people controlling EVERYTHING.
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