Occupy Wall StreetFollow

You're so horribly misinformed, I wonder where to begin. It's nice to see that you can quote Wikipedia, but that doesn't really mean ****.

The Fed has two purposes. They are, explicitly:

1. Engage in the purchase and sale of Treasury bonds to control the money supply (monetary policy) with the goal of providing for a stable common currency (low inflation) and low unemployment (but not zero!).

2. Act as the "lender of last resort" for private banking institutions.

They don't supervise, regulate, or otherwise have any control over private banks; you're thinking of the FDIC, which is a body of the US Treasury Department.

The only way in which the Fed indirectly influences private banks, besides lending, is by setting target interest rates, which are generally adopted by private lending institutions for inter-bank loans. These target interest rates are not official in any capacity, but they signal the private market as to the Fed's intentions with regards to the future course of monetary policy, which helps to reduce economic uncertainty and promote long-term investment.

The economy would be way awesomer if you could exchange your dollars for tangible value like gold, the value of which is measured in dollars.

Duh!

Oooo, oooo, I got this one, it's "banks print money" right? Do I get a cookie?

Honestly I'm just curious if anyone will argue against Ron Paul's facts. I realize I'm not an expert nor do I pretend to be one. Ron Paul has been pushing against the Fed for over 35 years. I don't think Ron Paul is wrong for a variety of reasons. We all know America sends billions of dollars across the pond to various countries such as Pakistan. Ironically the politicians say they can't pay for social security or medicare. Obviously something doesn't add up. If I'm wrong, what's the right answer. Why is America spending billions and billions overseas?

The short answer to your question is I want to meet people on common ground. My integrity was challenged because of failed communications on previous posts, yet people all want to cherry pick mistakes and fail to address the concerns. I'm not here because I want or need to be right. I'm here because I want all Americans on the same page.

Yet you don't want to debate the merits of your positions. You effectively just want everyone on YOUR page and to hell with other positions. You find yourself faltering to argue your positions and then withdraw to a point of "Ron Paul said it, so it's true!" and "I don't want to debate, but here's more Ron Paul!". You say that

but your actions show very clearly that you are.

So you aren't posting links of Ron Paul, you are posting links from an expert, who just happens to be Ron Paul?

Wat?

If Ron Paul is such a vaunted expert, how come only crackpot conspiracy theorists like you listen to him?

Short version: Some of Ron Paul's data is correct, but usually (Like any half decent politician) he is making normative statements about how things should work, and how they currently work relative to his world view, rather than statements that can be proven factually correct or incorrect. He draws some conclusions based on how he believes people to act rather than the actual way they act and believes in some psychological effects that do not follow.

It's difficult to make a profit when you're lending at a 0% interest rate plus transactional fees from banks. Especially when all revenues above operating expenses are given to the US treasury.

You can however say that Fed regional governors try to shift monetary policy to aid their regional interests, but that's kinda the point

Good news, everyone upset with the OWS people claiming they're the "99%"! You have your own group now: the 53% of Americans who pay income taxes each year!
http://the53.tumblr.com/

http://www.theblaze.com/stories/the-53-want-the-99-to-learn-from-their-example/


Ironically (to me at least), after all the claims that the OWS groups aren't "grassroots" campaigns but were started by lefty activists, this group is started up by right-wing filmmakers, bloggers, and activists. Go figure.

It's also interesting to note that I'm part of both groups, as I pay income rates but am nowhere near the 1% bracket of America. Yay inclusiveness!