“Instead, it is an independent entity within the government, having both public purposes and private aspects.”
“It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government”
Well that sounds just about right. They can call themselves an entity within the government if they choose, but since they do not have to pay any attention to what Congress wants or the President wants, they are an independent group doing what ever they chose.
However, the Federal Reserve is subject to oversight by the Congress, which periodically reviews its activities and can alter its responsibilities by statute.
In other words, it's not like opening a Taco Time.
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
Some neat cave-man archeological finds exist in underwater caves like 50 feet below the surface. So yes, it is safe to bet FOR the warming.
To fear it? I wouldn't. The bigger fear is the tax bill coming from the government trying to "protect" all the homeowners who put houses on the waterfront.
Like it is a God-given right for the beach sand to never move, even though waves smash against it!
Just heard on the news: that big corporations who could afford secruity for themselves have been given MultyMillion Dollar aid from the Government to protect their porperties...let me give you a hint...big oil companies!
“However, the Federal Reserve is subject to oversight by the Congress, which periodically reviews its activities and can alter its responsibilities by statute.”
Oh goodie, Congress can look at it but they can’t touch it!
Look, there are two basic ways anyone here can go on this issue, and they don’t have to get crazy. They can pay attention to Russ, Dave99b etc., and if they are wrong and get caught in a bad situation I am sure these guy’s will apologize, but exactly how will that help you?
OR,
You can be just a little more cautious, perhaps stock away $500 worth of small denomination silver coins, rotate 3 months worth of groceries instead of one month., buy a few extra bullets for your deer rifle, not buy as much on those credit cards as you use to, work on paying off your home mortgage, etc., and exactly how is that going to hurt you?
<< <i>Gee..... it's not like an unprotected pipeline or refinery would be a terrorist target.
I think Duhbya is dumb for protecting such assets, as they obviously have no effect on people or the economy. >>
Yep, and if he didn't, the same people who whine about how unfair it is that the evil oil companies got the security help would be blaming Bush if an unprotected pipeline were destroyed and they had to pay more at the pump.
The Chairman of the Fed, presently Alan Greenspan is confirmed by the Senate and the job is open every four years. If you have not been watching, mortgage rates have been at their lowest in 40 years, inflation is not a factor and yes the economy is struggling.
Well, the discussion of economic cycles is relevant. With the exception of during the Clinton administration we have had economic cycles that last 4 years. We skipped one downturn.
Gold will always be a store of wealth, but it will never be a good long term investment as it produces nothing. It has been up and down over the years. Does anyone remember when it was $900 and ounce? Given that you can mine it for about $200 and ounce I would be careful about buying much above where it is now.
Economies have become way too large to use any kind of metal standard. I believe I read somewhere recently that if you assembled all the gold in the world in one spot it would not exceed a cube 100 feet square. Given the billions of people in the world, an ounce would have to be worth a couple of hundred thousand dollars to use a gold standard.
That is not to say that holding some gold is bad, but I would be careful of those who see it as a major portion (or all) of a portfolio.
Retired United States Mint guy, now working on an Everyman Type Set.
Well, I got my ten acres out in the country, with spring fed creek and pond, but the soil needs much improving. Garden is doing OK, but it's costing an arm and leg in fertilizers. Dug up three rows of taters today, but they weren't big enough. Maybe the next two rows will be better. The onions were small too this year. It is very hard work, and don't know how the old timers survived without AC. We are trying to become self sufficient - and yes, I have some bullion for whatever ... but hope to be able to trade eggs and crops for whatever we need also. I feel for the young kids like my son, who live in the bubble - in the big city - with their fancy homes and dependant for everything upon banks and the city.
Comments
“It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government”
Well that sounds just about right. They can call themselves an entity within the government if they choose, but since they do not have to pay any attention to what Congress wants or the President wants, they are an independent group doing what ever they chose.
However, the Federal Reserve is subject to oversight by the Congress, which periodically reviews its activities and can alter its responsibilities by statute.
In other words, it's not like opening a Taco Time.
Dave
Some neat cave-man archeological finds exist in underwater caves like 50 feet below the surface. So yes, it is safe to bet FOR the warming.
To fear it? I wouldn't. The bigger fear is the tax bill coming from the government trying to "protect" all the homeowners who put houses on the waterfront.
Like it is a God-given right for the beach sand to never move, even though waves smash against it!
">"http://www.cashcrate.com/5663377"
Gee..... it's not like an unprotected pipeline or refinery would be a terrorist target.
I think Duhbya is dumb for protecting such assets, as they obviously have no effect on people or the economy.
">"http://www.cashcrate.com/5663377"
Oh goodie, Congress can look at it but they can’t touch it!
Look, there are two basic ways anyone here can go on this issue, and they don’t have to get crazy.
They can pay attention to Russ, Dave99b etc., and if they are wrong and get caught in a bad situation I am sure these guy’s will apologize, but exactly how will that help you?
OR,
You can be just a little more cautious, perhaps stock away $500 worth of small denomination silver coins, rotate 3 months worth of groceries instead of one month., buy a few extra bullets for your deer rifle, not buy as much on those credit cards as you use to, work on paying off your home mortgage, etc., and exactly how is that going to hurt you?
<< <i>Gee..... it's not like an unprotected pipeline or refinery would be a terrorist target.
I think Duhbya is dumb for protecting such assets, as they obviously have no effect on people or the economy. >>
Yep, and if he didn't, the same people who whine about how unfair it is that the evil oil companies got the security help would be blaming Bush if an unprotected pipeline were destroyed and they had to pay more at the pump.
Russ, NCNE
Keep the hype up bro, and gold may hit $600!
Dave
Well, the discussion of economic cycles is relevant. With the exception of during the Clinton administration we have had economic cycles that last 4 years. We skipped one downturn.
Gold will always be a store of wealth, but it will never be a good long term investment as it produces nothing. It has been up and down over the years. Does anyone remember when it was $900 and ounce? Given that you can mine it for about $200 and ounce I would be careful about buying much above where it is now.
Economies have become way too large to use any kind of metal standard. I believe I read somewhere recently that if you assembled all the gold in the world in one spot it would not exceed a cube 100 feet square. Given the billions of people in the world, an ounce would have to be worth a couple of hundred thousand dollars to use a gold standard.
That is not to say that holding some gold is bad, but I would be careful of those who see it as a major portion (or all) of a portfolio.
As long as you wrap yourself in tinfoil, you'll be safe.
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