Silicon Investor (SI) -- The First Internet Community

STOCKTALK

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.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (67539)	8/12/2007 6:02:45 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

>>The board members are appointed by the President and Congress and get paid salaries.<< I only read that Fed Chairman is appointed by the President, not other board members. And yes, EVERYONE who has a job is paid salaries. The key is where those salaries coming from. In the case of the Fed, their board members are paid salaries just like the board members in GS. The only difference is that GS now is public sold on the market, at least people can find out how much those board members are paid if they want to, but NOT the board members of the Fed. And Yes, the Fed is operated secretly. The only thing the public knows is whether they are going to raise the interest, or the so-called Fed Minutes, nothing else. No one knows how much they are being paid, unlike the US gov. officials. >>Some of the surplus profit is paid back to the banks in the regions. Some is apparently accumulated as surplus capital in the net equity of the bank.<< The funny thing is ALL the banks in the US is private owned TOO! So it really does NOT matter how those private organizations/individuals, including the Fed, split all those billions of $ of profit from manipulating the market through the repos (i.e. interest income from trillions of repos). They are secret after all. >>In other countries the Central Bank pays surplus profits back to the government as a dividend.<< I would rather put it the other way, in other countries, the CBs EQUALS to the Gov. That means: the salaries of the people who work in CBs, including the chairman, earn a salary, just like ALL the other gov. employees. This is completely different from the US system! There is no misunderstanding. The Fed is a private organization. The only reason you can say it is a Qausi-gov is due the fact the Fed Chairman is appointed by the US President. Other than this, there is Nothing else to be public about!