Tim Geithner lost his shit in a regulatory meeting on Friday, it is being reported:
http://www.nytimes.com/reuters/2009/08/03/busines…
Evidently, he takes umbrage at those who would question the altruistic intentions of the Federal Reserve Bank. And he was not polite about it.
According to the newspaper, Friday's roughly hour-long meeting was unusual because of Geithner's repeated obscenities and his aggressive posture toward regulators generally deemed independent of the White House.
Is Timmy feeling a little heat? Is the "Audit the Fed" movement gaining traction?
"Enough is enough! Just give us more power over the financial and monetary system with less oversight, and don't even think about auditing the Fed."
Good one Timmy. It's time to audit the Fed and get rid of these douchebags who ruined our monetary system and who cause all the financial turmoil.
http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/ http://www.campaignforliberty.com/campaigns/hr1207home.php
[quote=banker88]"Enough is enough! Just give us more power over the financial and monetary system with less oversight, and don't even think about auditing the Fed."
Good one Timmy. It's time to audit the Fed and get rid of these douchebags who ruined our monetary system and who cause all the financial turmoil.
http://www.ronpaul.com/on-the-issues/audit-the-federal-reserve-hr-1207/ http://www.campaignforliberty.com/campaigns/hr1207home.php[/quote]
Do you have any idea what would happen if the Fed were audited? It would drive up interest rates, send the market in to a tailspin, increase unemployment and end the world's trust in the US dollar. Great idea. I'm glad you can listen to a pseudo-libertarian and think you know what you're talking about.
Do you really think that these "douchebags" caused all this market turmoil? Surely no one outside of gov't played any role in it, and it is not as if capitalism has been cyclical in nature since its inception. So please, audit the Fed. Maybe you'll uncover Goldman Sachs vampire squid while you're at it
Capitalism is not subject to boom and bust cycles in a specie-based economy. Inflation is only possible with fiat currency.
The Federal Reserve is actually the fourth central bank the U.S. has tried in its history. The other three collapsed due to monetary inflation. It appears this one will eventually, as well.
Perhaps the best book on the subject is The Creature From Jekyll Island. I highly recommend it.
The WSO Guide to Understanding TARP
Edmundo, thanks for recommending that book. It was recently suggested to me by Mike Morgan, the guy who started the GoldmanSachs666 website. I have not had a chance to read it yet, but I think it would be great if some of the more popular websites like Zero Hedge started informing their readers of it and promoting it as a way for the average guy on the Street to learn a lot of the secrets behind the financial system in our country.
Another zealot on a crusade. GS&JPM rape our wives and kill our children. I'm glad I don't have either.
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