Who needs the federal reserve?

Discussion in 'Economics' started by RainMaker3000, Jun 25, 2019.

  1. dozu888

    dozu888

    you can google it.... other than the 6% on the member capitals, the rest of the profit goes to the US treasury.

    it's pointless to bash the Fed... they were here exactly because gold failed and independent banks failed... it's not perfect but it's the best we have, so join them, and get rich.
     
    #81     Jul 22, 2019
    nooby_mcnoob and eurusdzn like this.
  2. Have you seen federal reserve building In Manhattan? they have their own police , very secretive.
     
    #82     Jul 22, 2019
  3. Every large entity has their own police. The police are not there to protect the plebs, they are there to keep the plebs under control. This kind of police force is not useful for powerful entities, as often a large entity's security will have their goals conflict with the plebs' police force.
     
    #83     Jul 22, 2019
  4. Wheezooo

    Wheezooo

    If someone were to write a book explaining in great detail why the Fed doesn't do 1/10th of what they project themselves as doing. That the CB is little more than a giant dog and pony show, run by people considerably less intelligent and capable than everyone perceives. Moreover, were that book to explain what is truly happening from a 100% market based perspective. Would that be something people would want to read?
     
    #84     Jul 22, 2019
    Magic likes this.
  5. Magic

    Magic

    I probably would. I’m finishing up F. Black’s Business Cycles & Equilibrium. He’s quite unimpressed with the idea of monetary policy in general. Says the market in aggregate is fairly efficient and constantly in macro-equilibrium, so while information disparity causes immediate disruptions and adjustments, the private sector will quickly adapt to new rates, money stock and it won’t have a material impact on supply / demand.

    Seeing as life has still gone on while we had short rates anywhere from high teens all the way to zero, I’m inclined to agree that fed intervention has a lot of unimportant noise. Hypersensitivity toward decimal points of inflation and the like seems like needless bureaucracy.
     
    #85     Jul 22, 2019
  6. #86     Jul 22, 2019
  7. easymon1

    easymon1

  8. piezoe

    piezoe

    #88     Aug 11, 2019
    Wheezooo likes this.
  9. easymon1

    easymon1

    hi mr piezoe,
    if you read the linked material, you'll find the answer to your posted question.
    cheers!
     
    #89     Aug 11, 2019
  10. drcha

    drcha

    This might have been answered by my 90-something friend, who when "fired" by her cardiologist (who told her she did not really need a cardiologist), responded, "Well, I want one. All my friends have one."
     
    #90     Aug 12, 2019
    easymon1 likes this.