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Even Wikipedia knows more than you.
The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]
According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]
I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you
If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.
It belongs to the Federal Reserve.
OMG! Still hilarious.
You do know what the meaning of an exchange is don't you?Printed paper money belongs to the fed until there is an exchange.
Even Wikipedia knows more than you.
The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks and various advisory councils.[8][9][10] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time. The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks. It is also unusual in that an entity outside of the central bank, namely the United States Department of the Treasury, creates the currency used.[11]
According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government." Its authority is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Thus the Federal Reserve has both private and public aspects.[12][13][14][15] The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury.[16]
I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you
Really? But you don't even know how to read.
I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you
Really? But you don't even know how to read.
I'm reading your bullshit so that's a lie for you.
I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you
If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.
It belongs to the Federal Reserve.
OMG! Still hilarious.
Oh man. We should totally submit that one to Reader's Digest. Spread the laughter
really? But you don't even know how to read.
i'm reading your bullshit so that's a lie for you.
what bullshit? You mean like the federal reserve act?
i'm reading your bullshit so that's a lie for you.
what bullshit? You mean like the federal reserve act?
you're wiki edit as you read bullshit.
I am going to have to log into wiki and edited that part. You do realize wiki is an anyone can edit site?
And shocking I know more than you
If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.
It belongs to the Federal Reserve.
OMG! Still hilarious.
Dude you are idiot how many time must you repeat something out of context that I did not say?
Here's what I said
You do know what the meaning of an exchange is don't you?Printed paper money belongs to the fed until there is an exchange.
Is it just your stupid hope that if you repeat something enough times there maybe a chance it will come true?
If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.
It belongs to the Federal Reserve.
OMG! Still hilarious.
Dude you are idiot how many time must you repeat something out of context that I did not say?
Here's what I said
You do know what the meaning of an exchange is don't you?Printed paper money belongs to the fed until there is an exchange.
Is it just your stupid hope that if you repeat something enough times there maybe a chance it will come true?
How would anyone pull out an FRN that hasn't been exchanged by the Fed? LOL!
Nice tap dancing, but a fail.
So why does the Fed give most of their profit to the Treasury?
Fed pays profits back to treasury because it's basically a government organization that is mandated to do so. It has many privileges and mandates set up by congress/law.
what bullshit? You mean like the federal reserve act?
you're wiki edit as you read bullshit.
What on earth are you talking about?
If you will pull a dollar bill out (from my wallet?) and take a look at it, you will notice that it says "Federal Reserve Note" at the top.
It belongs to the Federal Reserve.
OMG! Still hilarious.
Dude you are idiot how many time must you repeat something out of context that I did not say?
Here's what I said
You do know what the meaning of an exchange is don't you?Printed paper money belongs to the fed until there is an exchange.
Is it just your stupid hope that if you repeat something enough times there maybe a chance it will come true?
How would anyone pull out an FRN that hasn't been exchanged by the Fed? LOL!
Nice tap dancing, but a fail.
So why does the Fed give most of their profit to the Treasury?
Did I god damn say that you dumb son of a bitch? If you have a federal reserve note in your wallet it has already been exchangedHow would anyone pull out an FRN that hasn't been exchanged by the Fed?
So why does the Fed give most of their profit to the Treasury?
you're wiki edit as you read bullshit.
What on earth are you talking about?
This is why you're basically a dumb ass to me.
"What on earth are you talking about?"
As if I haven't already addressed your wiki shit. Go the fuck back and read it again.
What on earth are you talking about?
This is why you're basically a dumb ass to me.
"What on earth are you talking about?"
As if I haven't already addressed your wiki shit. Go the fuck back and read it again.
No dude. The sentence "you're wiki edit as you read bullshit" doesn't make sense. I can't understand it. Please use real sentences.
"already addressed your wiki shit"? You mean that time I explained how your wiki paragraph wasn't evidence of anything and wasn't at all relevant
http://www.usmessageboard.com/econo...se-the-debt-ceiling-again-20.html#post4600123
and you never responded?
This is why you're basically a dumb ass to me.
"What on earth are you talking about?"
As if I haven't already addressed your wiki shit. Go the fuck back and read it again.
No dude. The sentence "you're wiki edit as you read bullshit" doesn't make sense. I can't understand it. Please use real sentences.
"already addressed your wiki shit"? You mean that time I explained how your wiki paragraph wasn't evidence of anything and wasn't at all relevant
http://www.usmessageboard.com/econo...se-the-debt-ceiling-again-20.html#post4600123
and you never responded?
WHATS TO ADDRESS? ARE YOU THAT FUCKING STUPID THAT YOU CAN COMPREHEND THE MEANING?
You as the reader can edit anything you want too from wiki. No matter if you posted the wiki shit or not.
No dude. The sentence "you're wiki edit as you read bullshit" doesn't make sense. I can't understand it. Please use real sentences.
"already addressed your wiki shit"? You mean that time I explained how your wiki paragraph wasn't evidence of anything and wasn't at all relevant
http://www.usmessageboard.com/econo...se-the-debt-ceiling-again-20.html#post4600123
and you never responded?
WHATS TO ADDRESS? ARE YOU THAT FUCKING STUPID THAT YOU CAN COMPREHEND THE MEANING?
It's more that you can't form a comprehensible sentence.
You as the reader can edit anything you want too from wiki. No matter if you posted the wiki shit or not.
Hahah. Then why did you try to use it as evidence? You brought wiki into this, not me.
Horseshit I cannot help that you are too stupid to comprehend what you read. I have been clear and to the point. All you can say is I don't understand. The simple shit seems to be hard for you to graspIt's more that you can't form a comprehensible sentence.
WHATS TO ADDRESS? ARE YOU THAT FUCKING STUPID THAT YOU CAN COMPREHEND THE MEANING?
It's more that you can't form a comprehensible sentence.
Hahah. Then why did you try to use it as evidence? You brought wiki into this, not me.
When did I use a direct link to wiki? I haven't
When did you use a direct link to wiki? You did
According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Fed’s own website):
"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New York’s primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
You're getting confused here. "Treasury bonds" originated from the Treasury, but they're held by the public. Everybody has treasuries, especially banks. So now think about this for half a second, what does the Fed target? The fed funds rate. Does buying bonds from the US Treasury affect the fed funds rate? No. Affecting the amount of bank reserves by buying bonds from banks does. The Fed buys treasuries from banks in the open market - hence open market operations - but does not buy bonds directly from the Treasury (since that is illegal).
read this slowly
Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal governments I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Feds own website):
"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New Yorks primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?
Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.
Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.
We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the fuck up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.
You need to produce evidence that the Fed lends directly to the Treasury.
It's more that you can't form a comprehensible sentence.
Hahah. Then why did you try to use it as evidence? You brought wiki into this, not me.
When did I use a direct link to wiki? I haven't
When did you use a direct link to wiki? You did
You didn't link it but you quoted it as a source here:
http://www.usmessageboard.com/econo...se-the-debt-ceiling-again-19.html#post4599908
According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Feds own website):
"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New Yorks primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
I never used wiki as a source. I only used the Federal Reserve Act, if I recall correctly.
I never used wiki as a source. I only used the Federal Reserve Act, if I recall correctly.
read this slowly
Normally, the Fed swaps green pieces of paper called Federal Reserve Notes for pink pieces of paper called U.S. bonds (the federal governments I.O.U.s), in order to provide Congress with the dollars it cannot raise through taxes. Now, it seems, the government is issuing bonds, not for its own use, but for the use of the Fed! Perhaps the plan is to swap them with the banks dodgy derivatives collateral directly, without actually putting them up for sale to outside buyers. According to Wikipedia (which translates Fedspeak into somewhat clearer terms than the Feds own website):
"The Term Securities Lending Facility is a 28-day facility that will offer Treasury general collateral to the Federal Reserve Bank of New Yorks primary dealers in exchange for other program-eligible collateral. It is intended to promote liquidity in the financing markets for Treasury and other collateral and thus to foster the functioning of financial markets more generally. . . . The resource allows dealers to switch debt that is less liquid for U.S. government securities that are easily tradable."
Who Owns The Federal Reserve?
Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.
Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.
We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the fuck up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.
You need to produce evidence that the Fed lends directly to the Treasury.
Here's your problem you are making shit up as if I said them when did I say the fed loans money to the treasury? The only thing I have said is the fed exchanges FRN for U.S. Stocks . So stop saying shit I did not say.
So, when the U.S. government needs to borrow more money (which happens a lot these days) it goes over to the Federal Reserve and asks them for some more green pieces of paper called Federal Reserve Notes.
The Federal Reserve swaps these green pieces of paper for pink pieces of paper called U.S. Treasury bonds. The Federal Reserve either sells these U.S. Treasury bonds or they keep the bonds for themselves (which happens a lot these days).
Just saying the same thing over and over again doesn't make you win. You need to produce evidence that the Fed lends directly to the Treasury. I have already produced evidence, in the Federal Reserve Act, that they do not as it is highly illegal.
Now for your second paragraph, "Treasury general collateral" means Treasuries. It is not engaging in transactions with the US Treasury (as before, that's illegal). What they're doing is swapping less liquid assets for highly liquid Treasuries with banks. This transaction is between the Fed and banks.
We have already established that private banks must hold equity in the Fed. This is not a contentious point, so shut the fuck up about it. The fact that they hold equity means nothing, since monetary policy decisions are made by people appointed by the President. Ben Bernanke was not elected by a consortium of banks, he was appointed by the President of the United States and confirmed by the Senate. So produce actual evidence of the things you are asserting, don't just keep flogging the same irrelevant point.
Here's your problem you are making shit up as if I said them when did I say the fed loans money to the treasury? The only thing I have said is the fed exchanges FRN for U.S. Stocks . So stop saying shit I did not say.
http://www.usmessageboard.com/econo...se-the-debt-ceiling-again-10.html#post4595012
So, when the U.S. government needs to borrow more money (which happens a lot these days) it goes over to the Federal Reserve and asks them for some more green pieces of paper called Federal Reserve Notes.
The Federal Reserve swaps these green pieces of paper for pink pieces of paper called U.S. Treasury bonds. The Federal Reserve either sells these U.S. Treasury bonds or they keep the bonds for themselves (which happens a lot these days).
The only person that has said anything about the fed lending money to the treasury is you so maybe you need to prove it.You need to produce evidence that the Fed lends directly to the Treasury.
