The FED has stolen 141 billion worth of German Gold

[GFB]

So you're saying..the Germans trusted the U.S. Government?

No, they trusted a privately owned central bank that operates unconstitutionally. Most Americans assume it's a part of the government. But, the govt. has no authority over it.

They do have some authority.

They were created by Congress, can be eliminated at any time by Congress..and must frequently appear before Congress for what is usually fairly intense questioning.

..and they must follow a clearly defined mandate of goals.

[GFB]

..and if you're not in favor of Central banks, then you should be equally suspicious and disdainful of the Bundesbank that says they want their gold back.

[planosteve]

So you're saying..the Germans trusted the U.S. Government?

No, they trusted a privately owned central bank that operates unconstitutionally. Most Americans assume it's a part of the government. But, the govt. has no authority over it.

They do have some authority.

They were created by Congress, can be eliminated at any time by Congress..and must frequently appear before Congress for what is usually fairly intense questioning.

..and they must follow a clearly defined mandate of goals.

They have goals but have never come close to achieving them and suffer no consequences when they don't. When they appear before congress it's all smoke and mirrors. When they cause a recession, they deny and deny that there is a recession and then deny and deny that it was their fault. And now Yellen wants to claim that recessions are caused by the economy and the FED has to clean up the mess.
https://www.youtube.com/watch?v=fgBTgGW0svc

[GFB]

Steve..she's right.

[planosteve]

Steve..she's right.

So, you believe that recessions and depressions are caused by the economy and the FED has nothing to do with them?

[Bob Of Burleson]

Central banks ending
era of clear promises,
return to 'artful' policy

By Jonathan Spicer and Leika Kihara

NEW YORK/TOKYO (Reuters) - The world's major central banks are returning to a more opaque and artful approach to policymaking, ending a crisis-era experiment with explicit promises that they found risked their credibility and did not substitute for action.

From Washington to London to Tokyo, the global shift from transparency to flexibility underscores the challenges central bankers face as they test the limits of what monetary policy can achieve.

The return to a more traditional policymaking approach and nuanced statements will challenge the communication skills of central bankers who have been chastened in the last year after some too-specific messages confused and disrupted financial markets.

Complicating things on the world stage, the U.S. Federal Reserve and the Bank of England are looking to telegraph plans and conditions for raising interest rates, while the European Central Bank and the Bank of Japan are heading the other way.

MORE

[GFB]

Steve..she's right.

So, you believe that recessions and depressions are caused by the economy and the FED has nothing to do with them?

I believe this..this is what I was answering..And now Yellen wants to claim that recessions are caused by the economy and the FED has to clean up the mess.


The Fed works hard..sometimes successfully,( such as in 2009) to clean up messes.

As to, can they CAUSE a recession?..Yes, they can..if they act too soon, too late, or too aggressively one way or the other in seeking to keep inflation in check and maximize employment.

[GFB]

Here is a good example..The Fed could have easily TANKED the SLOWLY growing economy of the last 5 years..by raising rates.

They could STILL do it, if they act too soon on that.

[GFB]

Another way they could screw up..by NOT raising rates if for some reason the economy took off like a rocket..(seems unlikely..but historically, it happens)

Raise rates too much or too soon?..bye bye "economic recovery..hello recession"

Raise rates too late or not at all when an economy starts to heat up?..Oh yeah THEN we'd see inflation..crippling inflation and worse.

[GFB]

..tough gig.

[planosteve]

Another way they could screw up..by NOT raising rates if for some reason the economy took off like a rocket..(seems unlikely..but historically, it happens)

Raise rates too much or too soon?..bye bye "economic recovery..hello recession"

Raise rates too late or not at all when an economy starts to heat up?..Oh yeah THEN we'd see inflation..crippling inflation and worse.

I find it hard to believe that anyone could believe such utter nonsense, but I've been reading you long enough to believe that you do.

[GFB]

Another way they could screw up..by NOT raising rates if for some reason the economy took off like a rocket..(seems unlikely..but historically, it happens)

Raise rates too much or too soon?..bye bye "economic recovery..hello recession"

Raise rates too late or not at all when an economy starts to heat up?..Oh yeah THEN we'd see inflation..crippling inflation and worse.

I find it hard to believe that anyone could believe such utter nonsense, but I've been reading you long enough to believe that you do.

Why don't you give us your own little scenario of what happens when..the Fed raises rates too soon..too late..or not at all.

[jellowrestling]

What weighs more:

An ounce of gold or an ounce of sand?

A pound of gold, or a pound of feathers?