the federal reserve: major accounting abuse

Discussion in 'News and Current Events' started by commisiar, Dec 11, 2013.

  1. commisiar Member

  2. Anonymous Member

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  3. commisiar Member

    I know it seems like bollocks but the federal reserve does have issues with it's accounting and policies, it's policy has been wrong by some parts ever since 1988 because of the fact it was controlled by the chairman of the federal reserve at the time which was Alan Greenspan. It's accounting processes can be manipulated slightly by insiders as to show everything is okay when it's not when they create the charts on the economy.

    I know I have trouble with there. their, they're, or they but thank you for pointing that out.:(
  4. PresidentShaw Member

    Ironically enough, it's the department of treasury that prints money, not the fed.
  5. Anonymous Member

    I think there's a distinction to be made between the political decision to increase the money supply (which will mostly happen electronically) and the physical activity of literally printing banknotes (a relatively dull and unimportant physical manufacturing process).

    Who does which?

    Isn't it the politicians rather than the Fed who decide when to quantitatively ease and when not to?
    (apologies if this is a stupid question, I'm outside the US and not 100% familiar with the American financial system).
  6. Dear OP,

    "Their" is possessive, "they're" is a contraction of "they are," and "there" is the proper spelling for every other use of these homophones.

  7. laughingsock Member

    Johnny,is that a new sock?^^^^
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  8. Blanket Member

    Honestly, I thought you were smarter than that. That sounds an awful lot to me like the textbook collaborator response.

    Are you truly trying to defend the Fed by pushing blame onto the Dept. of the Treasury? Not to say that that agency itself hasn't caused any problems or done any damage, but there really is no argument against the fact that the Fed does control the money supply, albeit ELECTRONICALLY WOOO.

    Should we also defend the fractional banking system and the siphoning of trillions via the income tax into the pockets of Ponzi scheming banking interests?

    The Federal Reserve won't ever go bankrupt. If you believe that this is even possible, you've not been paying much attention to recent history and you deny the fact that at any time they choose, they can create more money to pay off their debts which is what we allow them to do every day as a matter of public policy.

    The Fed cannot be allowed to go bankrupt in our current monetary system as the end result would be the failure of the dollar and an end to the banksters' ride. There is no way that our Congress, being invested into this scam at unprecedented levels, would ever allow them to fail.

    Rest assured, the Fed has never been and will never be audited by the IRS or any other federal agency because they already know what they will find. Any statistic you see about their worth and their profits is whatever they willingly hand over to the public which I am more than willing to bet is full of hot air and nonsense.
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  9. Blanket Member


    The politicians are controlled by the same interests that control the Fed. I could be wrong about this but I don't believe that the vote to "INCREASE THE DEBT CEILING", as they call it nowadays, has ever lost. We extend the debt limit (aka print more money which is why we have to owe more money to the Fed, thereby increasing the national debt) as a matter of policy every 6 months while they scare everyone with threats of "government shutdowns."
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  10. fishypants Moderator

    Would that be the lizard people?

    The international conspiracy of Jewish bankers?

    Or the New World Order?

    I should warn you , WWP mods control all three.

    I suspect you're confusing sovereign debt with quantitative easing. Or confusing real life with mentalism. One of the two.
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  11. Blanket Member

    OHO. Is that what they call it now? So many amateur economists in here that will try to patronize me by posting a Wikipedia article that clearly states:

    That sounds like some MIGHTY FANCY LANGUAGE that, obviously, some "tinfoil hat" nut job like me could never understand. However, sounds to me like they suggest that inflation is not only a good thing, but inevitable, mplying that the money supply must always be inflating in order for the system to be functioning properly... HMMMMM. Now why would they constantly need to create more money? Is it possible that there is not enough money in supply currently to pay off all the interest owed and that interest can only be paid if more is borrowed (aka created) to cover the debt?

    "Easy Credit." Lulz
  12. your intellect is stimulating enough to send me to sleep
  13. PresidentShaw Member

    Ad hominems, why am I not surprised.

    I'm not defending anyone, I just typed a very simple sentence in an attempt to correct what I perceived as a mistake. To which you are replying with lenghty angry response.

    Please explain to me how the income tax is a ponzi scheme.

    Again, this has zero to do with what I said, but you clearly don't understand how inflation vs deflation works.


    That is simply untrue, the fed does get audited by independent audit firms on multiple levels, including the board of governors.

    Amongst the auditors is the Government accountability office (GAO) which is a federal agency.

    Here is their financial statement from 2012 for example:

    Maybe you should get your sources somewhere else than infowars?
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  14. Blanket Member

    Are you listening to yourself? You just said that the Federal Reserve, the most powerful bank in the country, is audited by a privately hired, independent firm and by its own Board of Governors?

    Funny thing is: I have no idea who else would do it. Who in our current administration would have any clue as to what's going on even if they looked. (Which is why we need to get politicians out of office and put in real world intellectuals like engineers, professors, philosophers, scientists, and economists.)

    For someone that probably has a much higher sense of acute economic issues and seems to be so smart, it seems pretty naïve that you would trust an entity with power like that to govern itself... It's amazing to me that the government allows it that kind of leniency, considering the vital role it plays in our economic system as we have today.

    That would be like the President of the United States and his Cabinet members being the only ones responsible for making sure they make responsible decisions...

    That would be like if McDonalds made millions sick and we allow them to hire their own internal investigators. We can trust them, the McDonalds board members will make sure there was no wrong doing.

    If I go to Six Flags I am killed in a tragic roller coaster accident, you think the government would let them launch their own, internal investigation?

  15. Blanket Member

    If I'm missing something, feel free to explain. Fact of the matter is, the internet is so saturated with the same shilly nonsense and skewed statistics, it's hard to tell what is true and what is not.

    I mean, every website you go to on the first five pages of google searching about the economy has articles that operate under the assumption that this system is THE ONLY SYSTEM. The ONLY OPTION.
  16. The Internet Member

    The government has divisions charged with policing other divisions. For example, appeals courts police lower court judges and overturn poor legal decisions. So the government is not like one company serving the interests of a small group of owners.
  17. Blanket Member

    Do I really come off as someone that needs to go back to 5th grade government class to learn about checks and balances?

    By the way, the Federal Reserve is not a government entity whatsoever except for its twisted relationship with the Executive Branch, namely the President, who appoints the members of the "BOARD OF GOVERNORS."

    These men and women are not the owners of the corporation, merely those who are charged with "self-policing" the branches of the bank and reporting to the President.

    If 2+2=4, then you could speculate that the Board of Governors members could be just as proficient and reliable, both morally and intellectually, as the members of the Cabinet, let alone the hundreds of other government "officials" that are either directly or indirectly appointed by the President. (You were talking about those federal court judges in the system of checks and balances? Yep, executive branch appointees.)

    By the way, I don't know if this means anything to any of you, but most of the current members of the Board of Governors were Bush appointees... And we all know how that guy had all of our best interests at heart.
  18. The Internet Member

    Everybody gets appointed by somebody. Been that way for a long time.
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  19. PresidentShaw Member

    No I said they are audited by a private, third party, auditor, INCLUDING the board of governors.

    I also said that they were audited by a federal agency, namely the government accountability office. I also provided dox to back up my claims.
    You clearly don't have a clue yourself.

    I'm not trusting it to govern itself, but I'm glad that third parties are auditing it, I was just correcting you on your statement that it has never been audited by a federal agency.

    Good thing that it isn't then.
    Again, see above.

    No the government wouldn't as it doesn't with the fed, this conversation is a bit redundant.
  20. PresidentShaw Member


    They also give 94% of their annual profit back to government, thats a pretty big relationship as well I'd say.

    I don't think you understand how complex of a system it is.

    So, the banking sector, that is mainly private, should be 100% government regulated? The very fact that government gets to meddle in it is almost a miracle in itself and due to the 29 crash where government had no sway in economic policy. The fed is basically the door by which the government gets to help implement economic policy, not the other way around.

    More ad hominems
  21. mip Member

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  22. Obviously nothing because so far each and every fucking one of your posts are complete moon bat shit ans show how ignorant and butthurt you are.

    Protip: DOX or STFU, GTFO, and DIAF. So far all you have done is spew shit with nothing to show where you came up with it. No dox. No nothing. Get it through your head: Dox or STFU. There is no third option. You make claims, you back them up. You don't make a claim and expect others to "just get it" on your word alone.

    Also: You seem to love you some ad hom attacks. Since I feel rather generous, I'll give you yet another free protip: Ad hominem attacks are the actions of a person who has no leg to stand on and can't reason their way out of the corner they pained themselves in.

    In other words: People who use ad hom attacks are getting owned and are acting like the butthurt bitch they are.

    All your faggotry aside: What do you plan to do about it? Go on every message board you come across and bawww about it? Try to resurrect the colossal fail that was Occupy Wall Street? What is the plan?

    Let me save you what limited brain cells you have: Forget it. OWS was fail and faggotry all rolled into a clusterfuck. Now go cry to your dad's dick, bitch.
  23. Anonymous Member

  24. fishypants Moderator

    Idiots gonna id.

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