Republicans Demand Block Of US IMF Funding To Bail Out Europe | ZeroHedge an excerpt from the letter What do you guys think the implications of the FX swaps, Europe's future and the result of potential collapse of the Eurozone system? Will the US loose its financial sovereignty, has it already? I hope the GOP are successful in curtailing the Fed's actions.. or could be all smoke and mirrors.. I have my opinion..
We lost our financial sovereignty back in 1913, you know, to the "Independent Agency". Geithner is former President of the Federal Reserve bank of New York, I don't see him rocking the boat. Europe will get it's IMF funding. Though it's nice to see some individuals concerned about this, ultimately this won't do anything to stop it though, as Greenspan himself admitted: [ame=http://www.youtube.com/watch?v=3QkmLnNEvdU]Allen Greenspan when asked about the relationship of The Federal Reserve and the President - YouTube[/ame]
Yes.. I agree we don't have 100% sovereignty.. But we still have the ability to end (feasibly) the federal reserve through legislation. Did Ron Paul not just recently warn about the introduction of a single world currency? If that were to ever occur, that would be the point where I believe the people have completely lost the sovereignty.. We're giving them money that the Federal reserve essentially generated out of thin air.. We're giving it to Europe to help prop up their socialist system because Europe (like many nations around the world) are finally coming to a stage where they can no longer support their policies with their currency.. Actions from the fed like this are the reason our dollar looses its value so quickly as well as the sole reason we have banks that are "TBTF".
On the GOP debate, live right now, in the background is a crowd of younger folk chanting "End The Fed" "This just warms my heart" - Lady doing interviews
Who the frag is WE? It's a private bank. All banks look forward to giving loans to other banks, be it locally, or across the ocean. Why is this private bank "federal reserve" any different? it's just called Federal Reserve, that's IT'S name. it got nothing to do with the federal government. So, no the U.S. government is not giving Europe anything.
haha this is exactly the problem the federal reserve should be tied to the government, it shouldn't be a seperate entity. makes for an untransparent monetary policy that goes unchecked
That or the market (the people). But some people are terrified of freedom so I'm willing to let the government control it.
It is tied to the government through the Board of Governors. Should definitely be more transparent and checked though.
bump, i feel very informed now thanks The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed. A member who completes an unexpired portion of a term may be reappointed. All terms end on their statutory date regardless of the date on which the member is sworn into office.