Feds critical role

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by lefty48, Mar 12, 2008.

  1. lefty48

    lefty48 New Member

    Jan 8, 2008
    Excerpt from Tuesday item in major liberal newspaper:

    "In an action that sent stock prices soaring, the central bank offered to let the biggest investment banks on Wall Street borrow up to $200 billion in Treasury securities in exchange for hard-to-sell mortgage-backed securities as collateral. And the Fed made clear that it was prepared to do more as needed."

    So, some of you want us to go back to gold standard or something, and demolish Fed role in the economy?

    No thanks guys... I'm hoping my limited retirement funds won't be destroyed completely by radical schemes like some of you seem to favor....

    Let's all hope like crazy that the current financial system, which is TOTALLY dependent on regulation by the federal government, can continue to maintain itself.

    Otherwise we've got some very real and serious problems that go waay beyond a vote for Ron Paul or Mao Tse Dung or Tsung, or whatever you might prefer as some interesting and purist, but rather weird and scary theory.

    I don't like Wall Street or the Federal Reserve any more than the next person. But that's what we've got to work with.

    Clinton, Bush, Obama, Reagan, Carter, etc., will all appoint Fed chiefs from same cloth. And let's freaking hope so.... All this crap about whether one is different from another is mainly hogwash....

    Last edited: Mar 12, 2008
  2. Terry_P

    Terry_P New Member

    Mar 23, 2008
    Throwing Carter in there gave your point a lot of credibility. I remember 30 year bonds at 12% and mortgage rates of 18% and a stagnent economy. He was the worst and didn't have a clue.

  3. pickenup

    pickenup Active Member

    Sep 11, 2002
    Colorado Rocky Mountains
    I'm all for letting the feds get an even TIGHTER STRANGLE HOLD on the economy, and our lives, and our rights.

    Please tell me mr. fed, how high would you like me to jump?
    This time?

  4. Marlin

    Marlin *TFF Admin Staff Chief Counselor*

    Mar 27, 2003
    At SouthernMoss' side forever!
    The only thing that is critical about the FEDS Role is that - - -

    It is DESTROYING our great Republic and our way of life.....

    :( :( :( :mad: :mad: :mad: :mad:
  5. USMC-03

    USMC-03 New Member

    Oct 17, 2007
    Peoples Republic of the Pacific Northwest
    Ah, you mean like those ponzi schemes that pay off early contributors with money from new investors so that when you finally run out of new invertors there are a whole lot of people that have put in money but will get nothing...

    You're right, the government needs to step in and outlaw this kind of activity. It's a good thing that Social Security in run nothing like that.

    Oh, wait…
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