Free Enterprise was destroyed in America long ago. ---- The US Congress established three key objectives for monetary policy in the Federal Reserve Act: Maximum employment, stable prices, and moderate long-term interest rates. Its duties have expanded over the years, and today, according to official Federal Reserve documentation, include conducting the nation's monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions. According to the Board of Governors, the Federal Reserve System "is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms." The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chairman and vice-chairman, are chosen by the President and confirmed by the Senate. The government also exercises some control over the Federal Reserve by appointing and setting the salaries of the system's highest-level employees. Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region; this entitles them to elect some of the members of the board of the regional Federal Reserve Bank. Thus the Federal Reserve system has both public and private aspects. The U.S. Government receives all of the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury. This was followed at the end of 2011 with a transfer of $77 billion in profits to the U.S. Treasury Department.
-- damit Why does the Federal Reserve lend money to banks? The Federal Reserve lends to banks and other depository institutions-- so-called "discount window lending"--to address temporary problems they may have in obtaining funding. Those problems can range from "garden variety" issues, such as funding pressures associated with unexpected changes in a bank's loans and deposits, to extraordinary events, such as those that occurred after the September 11, 2001, terrorist attacks or during the financial crisis in 2008 and 2009. In all of these cases, the Federal Reserve provides loans when normal market funding cannot meet banks' funding needs; while the discount window is not intended for ongoing use in normal market conditions, it is available to cover unexpected developments. To encourage banks to first seek funding from market sources, the Federal Reserve lends at a rate that is higher, and thus more expensive, than the short-term rates that banks could obtain in the market under usual circumstances. To minimize the risk that the Federal Reserve will incur losses from lending, borrowers must pledge collateral, such as loans and securities. Since 1913 when the Federal Reserve was established, it has never lost a cent on its discount window loans to banks. On Mar 13, 8:48 am, MJ <[email protected]> wrote: > Free Enterprise was destroyed in America long > ago. Obama has merely picked up where GWB left > off ... who picked up where WJC left off ... who picked up ... > As Jeffrey Tucker so aptly observed, > Every aspect of our lives is subjected to > [government planning] from birth to death. Every > product we buy, every service we use, every > decision we make is filtered through this morass. > You can try this on your own by going to > gpoaccess.gov and typing in anything from chicken > stock to funerals, and observe the state at work, > managing the whole of life as we know it in the > most minute detail one can imagine. Think of > anything and search it, and then see if you think we enjoy "free enterprise". > Obama's disregard of Constitutional limitations > is not new either. AGAIN, he has merely continued > from the examples and usurpations of each of his predecessors. > Bribery has been the standard modus operandi of > the DC swamp since AT LEAST the implementation of > the Fed and the immoral income tax ... hell, > Lincoln started a War over his NEED to 'pay off' those who put him in office. > As I noted, the Constitution is SPECIFIC in regards to treason: > Treason against the United States shall consist > only in levying War against them, or in adhering > to their Enemies, giving them Aid and Comfort. No > Person shall be convicted of Treason unless on > the Testimony of two Witnesses to the same overt > Act, or on Confession in open Court. > Should he be impeached? Certainly. The problem is > his so-called 'opposition' cannot wait until THEY > get to use what Obama has usurped ... and build upon his efforts. > > Regard$, > --MJ > > "It is easy to prescribe improvement for others; > it is easy to organize something, to > institutionalize this or that, to pass laws, > multiply bureaucratic agencies, form pressure > groups, start revolutions, change forms of > government, tinker at political theory. The fact > that these expedients have been tried > unsuccessfully in every conceivable combination > for 6,000 years has not noticeably impaired a > credulous unintelligent willingness to keep on trying them again and again." > -- Albert Jay Nock > > At 04:10 PM 3/12/2013, you wrote: > > > > > > > > >Dear MJ: You are smarter than this! Obama's destroying of our free > >enterprise capitalist system—that the Founding Fathers wanted; his > >disregard for the Constitutions limits on the scope of government; his > >assuming 'dictatorial' powers (with his Czars, executive orders, and > >court challenges to fair practices); his wrongly supposing that he was > >"elected" by those he BRIBED with "gifts, stuff and entitlements"; and > >his refusal to consider his constantly increasing taxes and > >expenditures as a threat to the social and economic survival of the > >USA are ALL TREASON! Inflation under Obama has STOLEN at least $8,000 > >per family in the USA during Obama's ILLEGAL first term in office. > >For that THEFT alone, he must be hanged-by-the-neck-until-dead! — > >John A. Armistead — Author of the "NC" and the top patriot in the USA! > > >On Mar 11, 1:20 pm, MJ <[email protected]> wrote: > > > Treason -- in the US -- is defined within the > > > Constitution. Specifically, AIIIS3C1: > > > Treason against the United States shall consist > > > only in levying War against them, or in adhering > > > to their Enemies, giving them Aid and Comfort. No > > > Person shall be convicted of Treason unless on > > > the Testimony of two Witnesses to the same overt > > > Act, or on Confession in open Court. > > > The Tyrant Lincoln, for instance EPITOMIZES this definition. > > > > As has been pointed out numerous times, the US > > > Constitution is an agreement between Sovereign > > > States. The Senate half of the Legislature was to > > > represent the States (Am 17 violates Article V). > > > The Constitution itself is CHANGED by the > > > Sovereign States' (legislature) consent. The > > > Executive is CHOSEN by Electors selected in > > > whatever manner decided upon by the STATE Legislatures. > > > > Regard$, > > > --MJ > > > > "Media figure Steve Deace says in his latest > > > column, "A good example of contractual rights > > > would be the U.S. Constitution, which begins with > > > the words, 'We the people of the United States in > > > order to form a more perfect union.' Immediately > > > the parties involved in the contract are > > > established: the people, the states, and the > > > federal government (or union). From there each > > > party states in the contract the terms, > > > jurisdictions, and liabilities each are > > > responsible for and permitted to perform." He is > > > mistaken here in two ways. First, the Federal > > > Government is not a party to the Constitution, > > > which created the Federal Government, any more > > > than an individual can be a party to his own > > > conception; second, the people and the states are > > > the same, as James Madison explained in his > > > "Report of 1800." He there explained that the > > > word "states" can have any of three > > > significations: it can refer to the territory of > > > a state, as in "I am presently in the state of > > > Connecticut"; it can refer to the government of a > > > state, as in, "The policy of the state of New > > > York is that the speed limit on interstate > > > highways is 65 m.p.h.; and it can refer to the > > > sovereign people of a state, as in, "The state of > > > Virginia ratified the Constitution." > > > > "The parties to the Constitution are the states, > > > in that third Madisonian sense of the word "state."" -- Kevin Gutzman > > > > At 09:47 PM 3/10/2013, you wrote:>Dear Bruce > > M.: NO! Obama should be HANGED for TREASON!!! > > > >Impeachment is a practically unworkable and weak process that is one > > > >of the three major errors of the Founding Fathers. The other two? > > > >Allowing the low population states to BRIBE the Constitutional > > > >Convention into having a non-Representative (population proportional) > > > >US Senate. And... Allowing Congress to make its own rules without > > > >stipulating that all rules must be consistent with Fairness and parity > > > >of voting power that is the very SPIRIT of the entire Constitution! > > > >By the latter immutable standards there can be no "leaders" of > > > >Congress; no greater power to those with seniority; no determination > > > >of chairmanships of committees depending on the winning party; and > > > >nothing else that "divides the house down the aisle"! Political > > > >parties are the antithesis of a FAIR Representative Republic! I > > > >should know, because I've penned and polished our 'New Constitution of > > > >the United States of America'—an updated, strengthened, clarified and > > > >expanded Big Brother of the original weak Constitution, that is, at > > > >this moment, the ONLY active document capable of solving every > > > >governmental and socioeconomic problem in America! Having a liberated > > > >Fair free enterprise Capitalist system should increase the prosperity > > > >of most Americans, left and right. And no grannies will be pushed > > > >over any cliffs to do it! — John A. Armistead — Author and Patriot > > > > >On Mar 9, 6:38 pm, Bruce Majors <[email protected]> wrote: > > > > > ------ > > > > > >http://www.counterpunch.org/2013/02/07/why-obama-should-be-impeached/ > > > > > > Who Will Step Up to Defend the Constitution? > > > > > Why Obama Should be Impeached > > > > > by DAVE LINDORFF > > > > > > If the Constitution is to have any > > relevance, and if America is to remain a > > > > > free society, then there is really no alternative: there must > > > > > be a bill of impeachment drawn up and submitted in the House, and > > > > > there > > > > > must at least be a hearing on that bill in the House Judiciary > > > > > Committee. > > > > > > The disclosure, by NBC, of a so-called “white paper” by the White > > > > > House offering the legal justification for the executing of American > > > > > citizens solely on the authority of the executive branch and the > > > > > president exposes a White House so blatantly in violation of the > > > > > Constitution that it simply demands such a hearing.... > > > > > Dave Lindorff is a founder of This Can’t Be Happening and a > > > > > contributor to Hopeless: Barack Obama and the Politics of Illusion, > > > > > published by AK Press. Hopeless is also > > available in a Kindle edition. He > > > > > lives in Philadelphia. > > > > > -- -- -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. --- You received this message because you are subscribed to the Google Groups "PoliticalForum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
