ITT: You tell me why the US needs a Federal Reserve

Discussion in 'The Bar' started by Napoleon V2, Sep 28, 2013.

  1. Napoleon V2

    Napoleon V2 New Member Banned User

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    since it has one
     
  2. Vyb

    Vyb serial chiller Gold

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    Most countries have a central bank. It is the equivalent to the Bank of Canada.

    Do you know why there is a Bank of Canada?

    If so you know why the U.S. has the Federal Reserve.

    :hat:
     
  3. Mack

    Mack Well-Known Member 2010 OG VIP

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    [​IMG]
     
  4. Daveindiego

    Daveindiego Confirmed Internet Legend Banned User

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    It serves two purposes, and two purposes only.

    1.) Keep inflation low.

    2.) Keep unemployment low.

    They do this by adjusting interest rates on US Treasury Bonds, which have been at about 0% for the past couple of years.
     
  5. Napoleon V2

    Napoleon V2 New Member Banned User

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    the BoC answers to the Government of Canada though
     
  6. Napoleon V2

    Napoleon V2 New Member Banned User

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    thank you for providing an answer
     
  7. Vyb

    Vyb serial chiller Gold

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    Wha...you don't think the Federal Reserve answers to the U.S. Government?

    Who do you think appoints the Fed Reserve Chairman?

    Why are Fed Chairmen always testifying before Congress?

    :dontknow:
     
  8. Vyb

    Vyb serial chiller Gold

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    WHICH are the essential functions of all Central Banks. :winner:
     
  9. Napoleon V2

    Napoleon V2 New Member Banned User

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    this thread is here to educate
     
  10. Vyb

    Vyb serial chiller Gold

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    Ok, the President appoints and "retires" the Fed chairman at will and the Fed answers to the U.S. Government.

    :hat:
     
  11. Gomez

    Gomez VIP Extreme Gold

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    in case some financial shit happens & shit
     
  12. Dlist

    Dlist Well-Known Member VIP

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    The Federal Reserve is not a bank, it is a conglomerate of bankers. The are not monitored by the government. They have no one to answer to. It should be abolished
     
  13. Vyb

    Vyb serial chiller Gold

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    Zeitgeist?

    I liked the first section, but that shit on the Fed was all fucked up.
     
  14. Dlist

    Dlist Well-Known Member VIP

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    No I have my own mind about this stuff.
     
  15. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP Gold

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    the Federal Reserve answers to the govt of the USA.


    and the USA govt is run by the large commercial banks.
     
  16. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP Gold

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    why? do you like economic depressions?
     
  17. Dlist

    Dlist Well-Known Member VIP

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    That is what said!!
     
  18. gilaet

    gilaet King Of Town Staff Member

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    Everything is fine.


















    Consume.
     
  19. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP Gold

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    look at the economies of countries where the govt runs their central banks: for example Greece, Italy, France, Russia.

    I prefer our system.
     
  20. Napoleon V2

    Napoleon V2 New Member Banned User

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    Paging LonghornJ :cmon: