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HR 1207 : Federal Reserve Transparency Act 2009 (pg. 31)
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
Would you mind providing a link that proves your statement to be true? |
thats how all central banks work. its common knowledge. |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
thats how all central banks work. its common knowledge. |
I'm asking about how the Federal Reserve specifically operates. You've made it quite clear that you don't believe I have any knowledge on this topic, so please treat me as such. Even though I didn't ask you, you can provide me a link if you like. A link to this on the federal reserve web site would be appreciated because I'm not really concerned about other central banks.
Thank you! |
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| Krypton |
| quote: | Originally posted by culorut
Stabilize the USA and the world by not knowing where Trillions of dollars are? |
Again, for the hundredth time. Just because the auditor of the Fed doesn't know some facts about a lending program, does not mean the Federal Reserve is money laundering or siphoning off money...:rolleyes:
Let's recap....
Colorut's Fed indictment
1) Accounting fraud
2) Money laundering
3) Racketeering
Did I miss anything? :o |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
I'm asking about how the Federal Reserve specifically operates. You've made it quite clear that you don't believe I have any knowledge on this topic, so please treat me as such. Even though I didn't ask you, you can provide me a link if you like. A link to this on the federal reserve web site would be appreciated because I'm not really concerned about other central banks.
Thank you! |
sure, here's an old thread. follow occrider's posts, which gives a definitive explanation for how the fed works and what it does. occrider is one of the brightest users on TA, and also happens to be an employed economist. he knows his .
http://www.tranceaddict.com/forums/...d=&pagenumber=2 |
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| DOOMBOT |
| quote: | Originally posted by pkcRAISTLIN
sure, here's an old thread. follow occrider's posts, which gives a definitive explanation for how the fed works and what it does. occrider is one of the brightest users on TA, and also happens to be an employed economist. he knows his .
http://www.tranceaddict.com/forums/...d=&pagenumber=2 |
Uh, I'm not asking for someones opinion on the matter, otherwise I would have just taken Krypton's word for it. I asked for a link to the Federal Reserve web site that would state exactly what Krypton did. If you could do that, I'd appreciate it.
Thanks!!! |
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| Krypton |
| quote: | Originally posted by DOOMBOT
Would you mind providing a link that proves your statement to be true? |
All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital); the Federal Reserve system contributed over $29 billion to the Treasury in 2006.
http://www.federalreserve.gov/board.../sec6/c3.htm#t2 |
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| DOOMBOT |
| quote: | Originally posted by Krypton
All profit after expenses is returned to the U.S. Treasury or contributed to the surplus capital of the Federal Reserve Banks (and since shares in ownership of the Federal Reserve Banks are redeemable only at par, the nominal "owners" do not benefit from this surplus capital); the Federal Reserve system contributed over $29 billion to the Treasury in 2006.
http://www.federalreserve.gov/board.../sec6/c3.htm#t2 |
If you wouldn't mind again, point me to where exactly on that link you just gave me, that it says all profits minus expenses are going back to the treasury. I mean, I see a financial statement but I don't see that this is proving your statement true. |
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| pkcRAISTLIN |
| quote: | Originally posted by DOOMBOT
Uh, I'm not asking for someones opinion on the matter, otherwise I would have just taken Krypton's word for it. I asked for a link to the Federal Reserve web site that would state exactly what Krypton did. If you could do that, I'd appreciate it.
Thanks!!! |
sorry, i misunderstood you.
| quote: |
There are 12 district banks and they are located in Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Minneapolis, New York, Richmond, Philadelphia, San Francisco, and St. Louis. Each bank is its own revenue cost center and generates interest income off of the policy decisions that are established by the board of governors. It is important to note that the federal reserve banks are not in business for themselves, they return all profits back to the U.S. Treasury department. The primary responsibility of these banks is to distribute government securities into the market; which in turn regulates the amount of money that is in circulation at any point in time. Secondly, district banks are responsible for recommending changes in the discount rate to the board of governors. |
http://www.mysmp.com/bonds/federal-reserve-bank.html
there's much more on the fed's sight but im in a training course and dont have the time to find it, sorry. |
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| DOOMBOT |
I think I may have just found it myself...
| quote: | (K) Interest on Federal Reserve Notes
The Board of Governors requires the Reserve Banks to transfer excess earnings to the U.S. Treasury as interest on Federal Reserve notes, after providing for the costs of operations, payment of dividends, and reservation of an amount necessary to equate surplus with capital paid-in. This amount is reported as a component of "Payments to U.S. Treasury as interest on Federal Reserve notes" in the Statements of Income and is reported as a liability in the Statements of Condition. Weekly payments to the U.S. Treasury may vary significantly.
In the event of losses or an increase in capital paid-in at a Reserve Bank, payments to the U.S. Treasury are suspended and earnings are retained until the surplus is equal to the capital paid-in.
In the event of a decrease in capital paid-in, the excess surplus, after equating capital paid-in and surplus at December 31, is distributed to the U.S. Treasury in the following year.
Due to the substantial increase in capital paid-in at one Reserve Bank, surplus was not equated to capital at December 31, 2005. The amount of additional surplus required due to these events exceeded the Bank's earnings in 2005. |
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| Groundhog Boy |
I can't believe at how much stupider I feel having read most of this thread. And it's not because I was schooled...
Seriously, how many ing times does that Alyson Grayson video need to be posted? If you can't add anything more than "watch this to see how much of a moron you are" while posting it for the 25th time in one thread...the moron isn't the reader. |
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| DOOMBOT |
| quote: | Originally posted by Groundhog Boy
I can't believe at how much stupider I feel having read most of this thread. And it's not because I was schooled...
Seriously, how many ing times does that Alyson Grayson video need to be posted? If you can't add anything more than "watch this to see how much of a moron you are" while posting it for the 25th time in one thread...the moron isn't the reader. |
Go back to bed GB. We are past that and now digging deep into the vaults of the Federal Reserve. :D |
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| Groundhog Boy |
| quote: | Originally posted by DOOMBOT
Go back to bed GB. We are past that and now digging deep into the vaults of the Federal Reserve. :D |
OK....
Actually, it's more like "go back to your 15th hour of work today," but I wouldn't expect you to understand that, what with those intense hours worked by bank tellers.
I wish OCC weren't probably doing the same so that he could actually contribute to this thread and end some of this stupidity. |
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