SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : President Barack Obama
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Vosilla who wrote (142621)3/19/2014 8:18:18 PM
From: Jerome  Read Replies (1) of 149317
 
Hi John, You mention the Federal Reserve..and this seems to be a favorite whipping boy of many politicians.

But understand why the Federal Reserve exists and what its duties are:

From Wikipedia
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.[2][3][4][5][6][7] Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.[3][8] Events such as the Great Depression were major factors leading to changes in the system.[9]
From their charter the Federal Reserve's first duty is the maintain a stable currency. From the end of the Civil War till 1910...there were a number currency panics (manipulations?) that whipsawed all Americans between prosperity and poverty. And that's why The Federal Reserve System exists.

Out of control federal reserve continuing to micromanage the economy and create asset bubbles and Big federal deficits
The second duty of the Federal Reserve is protect the currency with the objective of maximizing employment. This does mean some micromanaging of the economy, but how else would you have it?

Politicians would have you believe that President Obama, and the Secretary of the Treasury, along the the Fed Chairman stay up late on Saturday night writing checks that the American Taxpayer will have to cover. Nice story line.......but just more right wing fiction.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News