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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (777788)	4/3/2014 2:43:41 PM
From: RetiredNow	Read Replies (1) \| Respond to of 1574692

I think they are trying to hide a few things: * just how much under the table (free..meaning on the backs of taxpayers) support goes to the big banks and to European banks. If Americans knew the extent of the fleecing the 99% is enduring to prop up the criminal bankers, I think the Fed would lose all credibility. * Also, I think the Fed tries to hide just how clueless they are. They never predict anything with any success, which if widely known, would call into question their ability to manage monetary policy so as to time the business cycles well enough to smooth them out. The fact is that they don't time well, which leads to bubbles and busts. * The other thing they are probably trying to hide is the gold stores. No one believes the US has as much gold as is published. When Germany asked for their gold back, the US has had to spread it out over a few years, rather than shipping it to them forthwith. They'll tell you it's because they don't want to roil markets, but the fact is that all of the US gold is already leased out. If all the paper were to clear, the US would not have title to any gold at all and would likely owe the world a ton of money to replace the gold obligations we already have. I read somewhere that notional derivatives in gold amount to gold be oversubscribed by something like 100 to 1. Compare that to core bank reserves, which are oversubscribed 10 to 1 due to laws mandating at least 10% reserves. Oversubscription is nothing more than indebtedness. The more debt in the system, the more unstable it is, which is why we have all these economic issues right now. Those are just some of the things I can think of off the top of my head. The bottom line, though, is that no government institution should be allowed to operate in the dark. I don't like secret FISA courts that eliminate US citizens' Constitutional Rights and I don't like secret monetary institutions that subvert the will of Congress in blatant disregard of the Constitution, which explicitly vests Congress with authority over monetary matters.