Guest kelly Posted September 23, 2003 Share Posted September 23, 2003 I know that their is a myriad of controversy surrounding the federal reserve, but I don't have a clue as to what the real story is. It is a fascinating subject though! Link to comment Share on other sites More sharing options...
whatsitmean Posted September 23, 2003 Group: Diamond Member Followers: 1 Topic Count: 31 Topics Per Day: 0.00 Content Count: 881 Content Per Day: 0.11 Reputation: 11 Days Won: 0 Joined: 03/16/2002 Status: Offline Share Posted September 23, 2003 One thing I did some time back was visited internet sites of Federal Reserve banks and ordered a bunch of their publications that they send out free. The Bank of Atlanta seemed to have the best selection. Most of the publications can be viewed on the internet as well. Here is quote from "Purposes and Functions": The Federal Reserve System is considered to be an independent central bank. It is so, however, only in the sense that its decisions do not have to be ratified by the President or anyone else in the executive branch of government. The entire System is subject to oversight by the U.S. Congress because the Constitution gives to Congress the power to coin money and set its value Link to comment Share on other sites More sharing options...
Catsmeow Posted October 3, 2003 Group: Royal Member Followers: 0 Topic Count: 439 Topics Per Day: 0.06 Content Count: 7,315 Content Per Day: 0.93 Reputation: 356 Days Won: 0 Joined: 11/21/2002 Status: Offline Share Posted October 3, 2003 I find my taste for the Fed, and Greenspan in particular, is bitter at best. I find it utterly amazing that the Fed continues to lower interest rates to the point of nil and expects THIS to improve the economy. Funny, hasn't anyone considered how many people are approaching or in retirement and depending on interest-bearing investments in their retirement plans to provide an income to live on? Social Security isn't enough, folks...for many of us who are relying on our savings from years of contributing to IRAS and 401Ks and other retirement vehicles... We're now getting less than 1 % on our money market investments, the stock market is far too unstable and crooked to trust, too many states and localities issuing municipal bonds can't be trusted to make good on their loans so municipal bonds aren't trustworthy investments anymore... Where do you put your money, folks? The Bank? Ahem! I don't think so... The bank pays less than 1%, even on money Market savings with over 100,000 dollars in it.. That's pitiful....we can't make enough on our savings to "buy things"...so we just tighten our belt. We don't want to dig into the principal of our investments; we put some in annuities, which pay a little better in a 5 year commitment. After about 3 more years, though...our 5% return will run out and we'll have to find somewhere else to invest. Okay..now where...? Greenspan has continued to lower rates so low, there's NO incentive to save. Wall Street is beginning to realize that investors don't trust the CEO's of big companies that lie on their balance sheets and misstate the company's true worth and value...in order to hide their true state. Too many scandals...Martha Stewart, Enron, Worldcom, etc... and nobody feels safe investing anymore... Yes, our money has become worthless, yet they keep Greenspan in office with his insane approach to stimulate the economy... YET, is it working? Is it? Is the economy better? Uh, I don't think so... What I see is increases in joblessness, increases in unemployment, decreases in spending, seniors without enough to live on because of lower interest rates and people aren't out spending more money... Many are building up balances on their credit cards...and drowning in debt and our own country, which was recovering is now back in debt again, running a horrific budget deficit. Why? Hmmm...? Link to comment Share on other sites More sharing options...
Guest kelly Posted October 3, 2003 Share Posted October 3, 2003 I agree with you about Greenspans lowering of the prime lending rate. I can not figure out what his theory is but it sure isn't working. I live in Michigan and almost every day we hear about more people being laid off and plants being closed. It's scarey how he just keeps lowering the rate and acting like that will do something to stimulate the economy. I am worried ab out the solvency of the economy when baby boomers are starting to retire. Will there possibly be enough money to pay out all those pensions and social security pensions. I know that the government is expected to raise the retirement age to 70 in a few months but I'm still not believing that there will be enough money and I see big problems ahead. Link to comment Share on other sites More sharing options...
Catsmeow Posted October 4, 2003 Group: Royal Member Followers: 0 Topic Count: 439 Topics Per Day: 0.06 Content Count: 7,315 Content Per Day: 0.93 Reputation: 356 Days Won: 0 Joined: 11/21/2002 Status: Offline Share Posted October 4, 2003 Kelly...the way they're going, we'll all have to be 80 before we can retire..meaning we'll just die on the job. I think it's absurd..because by the time people are 65, they've worked their whole lives and need a quiet time to spend at home with family, time to enjoy the golden years and not meet the demands of the rat race. It's so sad to steal their golden years away, forcing them to work, work, work...till their last breath. No, this insane policy of continually lowering the prime rate until it reaches nil is, to me...foolish. What's the point of saving for retirement when your nestegg can't earn anything? Link to comment Share on other sites More sharing options...
Guest kelly Posted October 7, 2003 Share Posted October 7, 2003 Cats, I have two sisters who are in their mid fifties, both have worked for the local school board for most of thier lives, good jobs and good pay when they hired in , also good retirement package. Well here we are 20 some years later and the local school board has one huge giant deficit. They have to make giant cuts and my two sisters will be losing their jobs and everything they have worked all of these years for. I myself, spent 15 years working for General Motors, best place around these parts to hire into when I was young. After I was there 15 years they up and decided they had to close my plant, there went my retirement , health benefits everything. We have learned the hard way in my state, you just cannot count on anything. So I am really hoping the the rapture will occur before we get to much older or an awful lot of us babyboomers are apt to be missing a few meals in these parts. Link to comment Share on other sites More sharing options...
ted Posted October 7, 2003 Group: Royal Member Followers: 2 Topic Count: 276 Topics Per Day: 0.04 Content Count: 7,474 Content Per Day: 0.97 Reputation: 51 Days Won: 0 Joined: 02/25/2003 Status: Offline Birthday: 01/31/1966 Share Posted October 7, 2003 I wonder if Greenspan has been Saved...? t. Link to comment Share on other sites More sharing options...
Catsmeow Posted October 7, 2003 Group: Royal Member Followers: 0 Topic Count: 439 Topics Per Day: 0.06 Content Count: 7,315 Content Per Day: 0.93 Reputation: 356 Days Won: 0 Joined: 11/21/2002 Status: Offline Share Posted October 7, 2003 I wonder, Kelly ...if Greenspan isn't a part of this New World Order, in fellowship with Rockerfeller or something. I miss Volker, myself. I haven't had much patience with Greenspan because he's so totally wrong when it comes to the interest rates. Who pays for most kids private schooling? Grandparents...I know; I worked for private schools..and a large number of the schools have their tuition paid by children's grandparents. Grandparents are on social security and retirement income. If their retirement income is tied to stock in Enron, you're bust. If it's tied to CD's...you got your principal..that's it. No real income on CD's or Money Mrkt. Today, anyone who wants to SAVE their money, I ask...WHY? Look, the way God has blessed us is by keeping our money in real estate; Florida real estate is always appreciating so it's a good investment. We make more return on our money in real estate than in any other investment. We park it in CD's or Money Market, (stability of principal but no return...slightly better than planting it in a hole in the yard). But putting it in houses or actual real estate is something that actually goes up in value...unlike everything else that seems to go bust. Link to comment Share on other sites More sharing options...
rollinTHUNDER Posted October 8, 2003 Group: Royal Member Followers: 6 Topic Count: 83 Topics Per Day: 0.01 Content Count: 2,985 Content Per Day: 0.37 Reputation: 433 Days Won: 2 Joined: 04/23/2002 Status: Offline Share Posted October 8, 2003 I wonder if Greenspan has been Saved...? t. That's a good one Ted! Imagine a christian globalist :x: Link to comment Share on other sites More sharing options...
Guest kelly Posted October 8, 2003 Share Posted October 8, 2003 I have heard rumors and speculation that Greenspan is involved in the nwo but I have no hard facts. That whole bunch is pretty quiet. Real estate is about the safest place to have your money that I know of also. Link to comment Share on other sites More sharing options...
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