Thursday, October 1, 2009
"We Wouldn't Want Anyone to Get Hurt, Now Would We?"
You've heard the arguments:
- If we audit the Federal Reserve, that is a “line that we don’t want to cross,” and it would be “problematic for the country”, according to Tim Geithner
- If we audit the Fed, it could lead to higher interest rates and reduced confidence in central bank policy, according to the Fed's chief counsel, Scott Alvarez
If an audit would reduce confidence in central bank policy, wouldn't that be because central bank policy has been terrible, and an audit has revealed that fact?
On the other hand, if an audit showed that the Fed had been doing an honest and competent job, wouldn't that increase confidence in the Fed?
And doesn't the whole "problematic for the country" and "higher interest rates" thing sound a wee bit like the old protection racket scam?
I'm just saying.
6 comments:
→ Thank you for contributing to the conversation by commenting. We try to read all of the comments (but don't always have the time).
→ If you write a long comment, please use paragraph breaks. Otherwise, no one will read it. Many people still won't read it, so shorter is usually better (but it's your choice).
→ The following types of comments will be deleted if we happen to see them:
-- Comments that criticize any class of people as a whole, especially when based on an attribute they don't have control over
-- Comments that explicitly call for violence
→ Because we do not read all of the comments, I am not responsible for any unlawful or distasteful comments.
Posts
Bernanke's & Geithner's comments, regarding audit of the Federal Reserve, tell me that if people new what they are doing in response to our present financial crisis, they wouldn't have any confidence in it at all and so it wouldn't work! This means that the only way it will work is if the people believe that it is something that it is not.
ReplyDeleteThe present policy to knowingly misinform, deceive and manipulate to keep people engaged in the economy will lead people into decisions that will cost them much in the near future.
Even if the intent of this fraud was to truly help, it is still a knowingly fraudulent act with consequences for all.
Sounds like a shake down to me... think they have enough mercs to take the US by force? or would it be the usual kill a few key folk and everyone else STFU?
ReplyDeleteThe comments sound more like the boogieman under the bed story a kid tells. If there is something wrong in an audit, it is generally because fraud has been committed. Koo over in Japan (Michael or Richard?) said that while he was with the Fed in the 1980's, the big NY banks were all broke. Rather than bring it up, they merely papered over it and let time and compound interest bail them out. We might wonder how long some of these guys have been broke this time while stuffing their pockets with billions in bonuses and regular income.
ReplyDeleteWhen i start arresting the Bush/Obama Global Terrorist Crime Cartel, aka Defence Contractor War Profiteers,you better know they will go down begging and screaming and crying as they are dying...
ReplyDeleteArrest Warrant for the Bush/Obama Global Terrorist Crime cartel: I second that Motion...Any opposition?
ReplyDeleteWe The People hereby declare "arrest on sight warrants" for the Bush/Obama Global Terrorist Crime Cartel,aka, Defence Contractor War Profiteers...
ReplyDelete