Ron Paul Leads Hearing On First Ever Audit Of Fed

What a surprise.

So what would be a less "rigged" way in your view?

 

To the contrary, the data I posted shows that as to average incomes, burgers are actually more than half less expensive than 50 years ago.

 

I don't care if it's 1%. Do you think that a selected few people getting a guaranteed, risk-free return, that no one else is allowed to participate in, is corrupt?

 

No. They are mandated by law to subscribe a certain percent (currently 3%) of their capital, no more, no less. As far as corruption, a 6% return historically isn't that great.

And there is nothing secret or corrupt about it. It's in the federal law and open to common knowledge.

But most folks watch internet videos and think the Fed is a private for profit company that pays out "trillions" to its "owners".

 

Deflect all you want. I'm sure the great majority of America would say it is BS. And rightly so.

 

Go take a poll.

 

some places have burgers on a dollar menu.

 

Sounds like half the compensation packages of half the CEOs in the country. And they don't even loan money.

 

Do they provide a service and who puts up the initial capital, not to mention the infrastructure to admininster it?

You act as if opening a bank is like starting a lemonade stand.

 

I thought it was a government enterprise? You sure are making the case that it is a private venture.

 

You didn't answer my question. I can see why.

Do these banks provide a service and who put up the initial capital.

Keep flailing

 

To me? No, they don't provide a service. They provide a service to themselves and cronies all across the globe. Though, I seriously doubt you could name another government entity to which private people get to pretend they are a government entity. Must be nice. What are you one of their sons? Scared to work for a living?

 

So your position now is if they don't provide a service to you, then they haven't provided a service, even though they are the hub of the banking system which is the source of most of the credit in the country that makes our entire economy work?

Do you think maybe it takes a little doing to account for and manage hundreds of billions of dollars, not to mention the infrastructure to protect it and account for it?

You're really looking desperate.

 

How could it be hundreds of billions of dollars a year? I thought they only took home 1.5 B each? What's a matter, with the direction this thread is going scared to use the "T" word? Tell poppa I said hi.

 

$1.5 billion each?

You've already seen in this thread that the total dividends paid out by the Fed to all the (several thousand) member banks totaled $1.6B, less than 2% of the Fed's profits.

 

Keep trying to cloud the issue and I'll keep pretending to listen to you.

The fed banks perform an important service. A critical service. And they had to rummage up the capital to get set up.

So, your claim that they just get paid for nothing is pure nonsense.

Keep flailing.

 

i've made the truth clear, you just keep clinging to lies

 

And let me guess, they all just happen to move in step with eachother? Copper, silver, platnium, oil, and gold all just happen to follow the same relative price with eachother? If CPI was measured the same way it was in 1990 you'd see a 50% increase. Don't be a sheeptroll. We've only had inflation since the FR Act, and we've only had single digit inflation since we left the gold standard.

The IRS. There are people who are retired, inbetween jobs, or in school, did you know that?

Apparently, you?

And when the FR prints money out of thin air, then pays it to the treasury, devaluing everyone's currency for the exact amount they inflated it, this isn't money paid to the federal government?

You seem to be missing the fact that when the government prints money they aren't creating value/wealth out of thin air. They might as well take money out of your bank account because that is exactly what it's doing. They create one dollar here, a dollar vanishes between all 200 million or so bank accounts. If it walks like a duck, talks like a duck, it is a duck. You are simply blind if you don't see inflation as a tax. That is exactly why so many are cynical about the subject. People like you don't understand that they are taking money out of everyone savings account through this accounting magic trick. And it's mathematically proven. I gave you the formula in the last post. Do you think this formula is a lie? If so then I might as well stop talking to you.

I'll play along, that's even worse then! Taxation without any expenditure on the taxpayer?

You figure the best way to detect fraud is with a (*)(*)(*)(*)ing calculator? HAHAHA.
A calculator has no moral compass.

This is just a statement, like everything you say. With absolutely no base in rationality, fact, or logic. For pages and pages all you've done is "debunk" arguments with baseless statements. There are millions of people singing your tune about this subject on the internet. Does that mean I should deduce that your logic isn't your own? That's what you're doing to me. But I'll humor you, it's all over the internet because it's true. If you think the amount of americans that believe the FR should be audited, are retarded, you are one of the most cynical people on this board. And there are hundreds of them here.

 

I don't know any truth you've made clear. You pointed out a quote that is cobbled together. It happens. Other than that, what have you done? Does that pass for truth at your house? All I see is deflection.

 

Uh, you mean taxable income. And it's not 50%. More like 45%. And it's federal income tax, not other taxes. But nice try. I love how these rightwing urban myths take wing.

 

Abraham lincoln
Ronald Reagan
Henry Ford
JFK
Garfield
Thomas Jefferson

These sound like people who got their ideas from videos on the internet?

How old are you? You know youtube hasn't been around forever right?

 

What are you talking about? You're going to nitpick over 5%?

He's talking about income, I informed him that not everyone has income. He's living in lalaland, go (*)(*)(*)(*)(*) to him about your facts.

What's not federal income tax? you aren't even making sense.

 

the truth is that the federal reserve is abundantly audited every year

the people that put together the quotes you like to use are trying to obscure that

 

Amazing. Such an easy thing to call Ron Paul on and yet a plethora of individuals, mediums, and venues out to discredit him never thought of it! If only they spent more time on PF. LOL

 

the audits are available for all to see


The combined financial statements of the Federal Reserve Banks were audited by Deloitte & Touche LLP

http://www.federalreserve.gov/boarddocs/rptcongress/annual09/sec6/c3.htm


"Annual Report - Board of Governors of the Federal Reserve System"

http://www.federalreserve.gov/publications/annual-report/default.htm