East Brady Posted March 20, 2008 Share Posted March 20, 2008 Just some more ramblings from another crack pot congressman, just for you GG, still accurate today, nothing has changed. We, the People, are at fault for being passive and allowing this to continue. Rep. Louis T. McFadden (R. Pa.) rose from office boy to become cashier and then President of the First National Bank in Canton Ohio. For 12 years he served as Chairman of the Committee on Banking and Currency, making him one of the foremost financial authorities in America. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1). The following are portions of Rep. McFadden's speech, quoted from the Congressional Record, pages 12595-12603: "THE FEDERAL RESERVE BOARD, A GOVERNMENT BOARD, HAS CHEATED THE GOVERNMENTOF THE UNITED STATES AND THE PEOPLE OF THE UNITED STATES OUT OF ENOUGH MONEY TO PAY THE NATIONAL DEBT. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country ENOUGH MONEY TO PAY THE NATIONAL DEBT SEVERAL TIMES OVER." About the Federal Reserve banks, Rep. McFadden said: "They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; the rich and predatory money lenders. This is an era of economic misery and for the reasons that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable." Again, nothing has changed. Maybe we should haggle that phony left vs. right crap??? Link to comment Share on other sites More sharing options...
Chilly Posted March 20, 2008 Share Posted March 20, 2008 Again, nothing has changed. Maybe we should haggle that phony left vs. right crap??? Says the man voting for Obama. Link to comment Share on other sites More sharing options...
GG Posted March 20, 2008 Share Posted March 20, 2008 Just some more ramblings from another crack pot congressman, just for you GG, still accurate today,nothing has changed. We, the People, are at fault for being passive and allowing this to continue. Rep. Louis T. McFadden (R. Pa.) rose from office boy to become cashier and then President of the First National Bank in Canton Ohio. For 12 years he served as Chairman of the Committee on Banking and Currency, making him one of the foremost financial authorities in America. He fought continuously for fiscal integrity and a return to constitutional government (Reference 1). The following are portions of Rep. McFadden's speech, quoted from the Congressional Record, pages 12595-12603: "THE FEDERAL RESERVE BOARD, A GOVERNMENT BOARD, HAS CHEATED THE GOVERNMENTOF THE UNITED STATES AND THE PEOPLE OF THE UNITED STATES OUT OF ENOUGH MONEY TO PAY THE NATIONAL DEBT. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country ENOUGH MONEY TO PAY THE NATIONAL DEBT SEVERAL TIMES OVER." About the Federal Reserve banks, Rep. McFadden said: "They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; the rich and predatory money lenders. This is an era of economic misery and for the reasons that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable." Again, nothing has changed. Maybe we should haggle that phony left vs. right crap??? Wowee. You do realize that Thomas Jefferson is more credible on macroeconomics than McFadden. Why did you leave out Senator Benjamin Strong's response? There is a disease that afflicts mankind which is very vicious. It warps the judgement, it narrows the vision, it even causes men to see red, to make mountains out of mole hills. This disease has sometimes been referred to as B.A. Ladies may refer to it as "tummy" ache, but out in the wide-open spaces men call it the "belly" ache, and I know of no man of my acquaintance that has this disease in so violent a form as the gentleman from Pennsylvania, Mr. McFadden. I have not the time to refer to the many charges he makes against the Federal Reserve system, but I call attention to the fact that for 12 years he has been the chairman of the Banking and Currency Committee of this House and did not see fit during that time to remedy any of the evils of which he now complains. It seems to me entirely out of place to wait until he is retired as chairman of that great committee and then assault all of the institutions of which it has control (C.R. p. 12603). Link to comment Share on other sites More sharing options...
molson_golden2002 Posted March 20, 2008 Author Share Posted March 20, 2008 What many Republicans don't seem to remember is that Ronald Reagan hated big business. Reagan was a champion of the small businessman and hated big companies Thanks to Bill Clinton and Wall Street, the merger mania has caused our economy to become a third-world-type. Bill Clinton gets all the credit for the huge economic growth during his administration. But what he really did was create a "Wall-Street Bubble" economy, with excessive CEO compensation and corporate downsizing. I think if you were to look back on Clinton he is one of the worst presidents that we've ever had. And Reagan and his budget busting tax cuts get the credit where Carter and his appointment of Volker as Federal Reserve chairmen deserve them for ending the stagflation Link to comment Share on other sites More sharing options...
Fan in Chicago Posted March 20, 2008 Share Posted March 20, 2008 Just some more ramblings from another crack pot congressman, just for you GG, still accurate today,nothing has changed. We, the People, are at fault for being passive and allowing this to continue. Again, nothing has changed. Maybe we should haggle that phony left vs. right crap??? Does this article have any numbers to back up such broad conclusions ? While I disagree with the Feds actions lately, I cannot discount the need for their existence. Largely, they have done well especially under Greenspan. Bernanke appears to be a bit trigger-happy but that is not a commentary on the Fed itself. The National debt/deficits are based on long term monetary (interest rates) and political policy (spending, tax rebates/cuts, wars) and I would like to see which specific actions of the Fed (quantified) does he refer to that allegedly have such a significant impact on the debt. My guess is if there is any backing to that statement, it will be just philosophical bs without any basis on firm facts. Link to comment Share on other sites More sharing options...
East Brady Posted March 20, 2008 Share Posted March 20, 2008 What a pathetic piece of chit: Don't worry Clinton, Gore, Kerry,and Obama will do the same thing. Link to comment Share on other sites More sharing options...
GG Posted March 20, 2008 Share Posted March 20, 2008 Does this article have any numbers to back up such broad conclusions ? While I disagree with the Feds actions lately, I cannot discount the need for their existence. Largely, they have done well especially under Greenspan. Bernanke appears to be a bit trigger-happy but that is not a commentary on the Fed itself. The National debt/deficits are based on long term monetary (interest rates) and political policy (spending, tax rebates/cuts, wars) and I would like to see which specific actions of the Fed (quantified) does he refer to that allegedly have such a significant impact on the debt. My guess is if there is any backing to that statement, it will be just philosophical bs without any basis on firm facts. You do realize that the article he's referring to was from a harangue McFadden led in the '30s as part of his conspiratorial theme about the Fed? Link to comment Share on other sites More sharing options...
Fan in Chicago Posted March 20, 2008 Share Posted March 20, 2008 You do realize that the article he's referring to was from a harangue McFadden led in the '30s as part of his conspiratorial theme about the Fed? Actually, I did not not know that. It just upsets me when anyone makes conclusions without backing it up with (factual) data, especially in a discussion which relies so heavily on quantitative reality. Link to comment Share on other sites More sharing options...
GG Posted March 20, 2008 Share Posted March 20, 2008 Actually, I did not not know that. It just upsets me when anyone makes conclusions without backing it up with (factual) data, especially in a discussion which relies so heavily on quantitative reality. And you participate in this forum? Link to comment Share on other sites More sharing options...
Booster4324 Posted March 20, 2008 Share Posted March 20, 2008 And you participate in this forum? Well that would explain his general pissy mood. (Note I have no factual data to back this up. I am merely saying it to piss someone off or make someone laugh) Link to comment Share on other sites More sharing options...
TPS Posted March 20, 2008 Share Posted March 20, 2008 And you participate in this forum? Since I'm in agreement with you on the Fed's actions, I'll refrain.... Link to comment Share on other sites More sharing options...
Fan in Chicago Posted March 20, 2008 Share Posted March 20, 2008 Well that would explain his general pissy mood. (Note I have no factual data to back this up. I am merely saying it to piss someone off or make someone laugh) Well, you are correct. I have been in a particularly pissy mood lately. And I contradict myself when I say you made the correct observation without sufficient data. Link to comment Share on other sites More sharing options...
East Brady Posted March 21, 2008 Share Posted March 21, 2008 http://biz.yahoo.com/ap/080320/fed_credit_crisis.html?.v=6 Looks like all's well in in NY. Bend over tax payers and get ready for another butt banging from the swine that controls the money. Of course our friendly locals will hail all that is great and wonderful about the private bank that rapes the nation. Frankly, my ass is getting a weee bit sore from the screw job being sold by the con men running the show. Of course this will be called a conspiracy by the clint-bush's. Not since the 1930's.......nothing has changed, has it con men? K-Y jelly for all americans, party time on wall street. Sharpen the pitchforks. Link to comment Share on other sites More sharing options...
DC Tom Posted March 21, 2008 Share Posted March 21, 2008 Frankly, my ass is getting a weee bit sore from the screw job being sold by the con men running the show. Really? How much are you out? And are you going to change your tune and exalt over how much money the taxpayer's getting back when the LOANS ARE PAID BACK? Link to comment Share on other sites More sharing options...
East Brady Posted March 21, 2008 Share Posted March 21, 2008 Really? How much are you out?And are you going to change your tune and exalt over how much money the taxpayer's getting back when the LOANS ARE PAID BACK? "The Fed will allow investment firms to borrow up to $200 billion in safe Treasury securities by using some of their more risky investments as collateral." Is that a sure bet, looks like code for, dumping their bad crap on the tax payer, again. 2%... where is my 2% loan, backed by chit. Oh, thats right, personal responsibility. Party time in NY for the swine bankers. Looks to me like their bungholes are getting a little tight from all the chit they've been peddling. The people are getting a little sick and tired of the bankers chit. We the people have never made a dime off the fed. It's been one butt bang after another, have you check the books lately?? Get the pitch forks ready, we just might be having us a xmas party Romanian style '89, in about 6 months. Conspiracy, we have a Conspiracy. Link to comment Share on other sites More sharing options...
GG Posted March 21, 2008 Share Posted March 21, 2008 Is this what happens when you mix meth with tequila? Link to comment Share on other sites More sharing options...
DC Tom Posted March 21, 2008 Share Posted March 21, 2008 "The Fed will allow investment firms to borrow up to $200 billion in safe Treasury securities by using some of their more risky investments as collateral."Is that a sure bet, looks like code for, dumping their bad crap on the tax payer, again. 2%... where is my 2% loan, backed by chit. Oh, thats right, personal responsibility. Party time in NY for the swine bankers. Looks to me like their bungholes are getting a little tight from all the chit they've been peddling. The people are getting a little sick and tired of the bankers chit. We the people have never made a dime off the fed. It's been one butt bang after another, have you check the books lately?? Get the pitch forks ready, we just might be having us a xmas party Romanian style '89, in about 6 months. Conspiracy, we have a Conspiracy. So...prefrontal lobotomy went well, then? No problems? Link to comment Share on other sites More sharing options...
meazza Posted March 21, 2008 Share Posted March 21, 2008 "The Fed will allow investment firms to borrow up to $200 billion in safe Treasury securities by using some of their more risky investments as collateral."Is that a sure bet, looks like code for, dumping their bad crap on the tax payer, again. 2%... where is my 2% loan, backed by chit. Oh, thats right, personal responsibility. Party time in NY for the swine bankers. Looks to me like their bungholes are getting a little tight from all the chit they've been peddling. The people are getting a little sick and tired of the bankers chit. We the people have never made a dime off the fed. It's been one butt bang after another, have you check the books lately?? Get the pitch forks ready, we just might be having us a xmas party Romanian style '89, in about 6 months. Conspiracy, we have a Conspiracy. I think i've found a website where a warrior like you has a voice http://www.prisonplanet.com/ Link to comment Share on other sites More sharing options...
molson_golden2002 Posted March 21, 2008 Author Share Posted March 21, 2008 "The Fed will allow investment firms to borrow up to $200 billion in safe Treasury securities by using some of their more risky investments as collateral."Is that a sure bet, looks like code for, dumping their bad crap on the tax payer, again. 2%... where is my 2% loan, backed by chit. Oh, thats right, personal responsibility. Party time in NY for the swine bankers. Looks to me like their bungholes are getting a little tight from all the chit they've been peddling. The people are getting a little sick and tired of the bankers chit. We the people have never made a dime off the fed. It's been one butt bang after another, have you check the books lately?? Get the pitch forks ready, we just might be having us a xmas party Romanian style '89, in about 6 months. Conspiracy, we have a Conspiracy. While its also my opinion that those "loans" backed by near worthless mortgage securities will never be paid back, I seriously doubt that the average person is sick of the banks. Most people just want the system to be stable and life to go on as normal, which Bush's people are trying to accomplish. God speed to them. If Bush gets just one thing right, let's hope to hell this is it. I think the oil companies will get blamed for everything. With the inflationary policies taken by the Fed the cost of importing oil is generally rising making gas more expensive at the pump. Part of me really likes that. Hopefully that will push the government and citizens alike to action on conservation measures. Of course a recession would dampen oil prices, so whatever. Link to comment Share on other sites More sharing options...
East Brady Posted March 21, 2008 Share Posted March 21, 2008 So...prefrontal lobotomy went well, then? No problems? Oh really, are you going too be around this fall when the Bush gang makes off with the loot? Just part of the cycle, every 8-10 years. Looks like 98-99 all over again, back then it was called what? You and the clinton gang will be dancing in the streets soon, how's that build up in Kosovo going? All that's missing now are the bombers, party time baby! Lets kill some serbs, yea baby!! Bombs Away!!!! You must swell with pride watching that piece of human garbaaage dance the dance??? Are you PROUD yet???? Get the pitchforks ready!!! The table is being set, for yet another huge buttbang on We The People. It's like clockwork. My ass is getting a weee bit sore from the screwing the clint-bush crowd keeps handing out. Link to comment Share on other sites More sharing options...
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