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----- Original Message -----
From: Bilo Selhi <citadel@xxxxxxxxxxxx>
To: 'Lucky Bastard' <andy@xxxxxxxxxx>
Sent: Thursday, January 04, 2001 5:19 PM
Subject: Re: Fed's Charter: was/Re: the Fed
> Lucky Bastard,
> you have an idealistic view of the world
> based on very common knowledge. that's right,
> the job of the Fed is to keep the goolag
> working in a stable manner... at same time
> Fed shareholders make a year what Bill Gates
> was worth when MSFT was at all time high.
> Bill Gates is a poor man compared to what those
> guys make. for them money is sand. those guys
> operate on top of UN, US and etc... a US
> president for them is just a pawn several levels
> below in the pyramid... and that
> has been going on for hundreds of years, financing
> wars, goverments, empires... our country to them
> is simply a profitable local McDonalds.
> "you only feel good when you control the whole world,
> since there is nothing more you can control "
> remember what Greenspan calls himself... " a citizen of
> the world"
> bilo.
> ps. it's all about the who's the masta and who's the slave.
> money has little value when you are the one who prints it...
>
>
> ----- Original Message -----
> From: 'Lucky Bastard' <andy@xxxxxxxxxx>
> To: <omega-list@xxxxxxxxxx>
> Sent: Thursday, January 04, 2001 8:50 AM
> Subject: Re: Fed's Charter: was/Re: the Fed
>
>
> > : > The Federal Reserve's duties fall into four general areas:
> .........(1)
> > : > ........stable prices; (2)
> > :
> > : Surprise moves like today tend to destablize, and almost seem
> > : to be an intent by the Fed to use the positions of professioal
> > : market participants to its advantage. Try making the case to
> > : specialists and hedge funds, all of whom provide key market
> > : liquidity, the case that sudden action intent on surprise is an
> > : act of stablization.
> >
> > You've taken the words out of context to skew the arguements in your
> favour.
> > If you read the Fed's charter/purpose at
> > http://www.federalreserve.gov/pf/pdf/frspf1.pdf , you would realize that
> the
> > stable prices refer to the prices of bread and butter, i.e.,
> > inflation/deflation. Not the prices of individual stocks, bonds or
mutual
> > funds.
> >
> > : > .................(3) maintaining the stability of the financial
> > : > system
> >
> > ...and containing systemic risk that may arise in the financial markets.
> >
> > : Both sides of market postions by professionals--short and long--
> > : deserve consideration by the Fed. And in no instance should
> > : the Fed ever use the position of any key market players to
> > : to its own disruptive advantage.
> >
> > I don't think the Fed is out to micromanage market positions when they
are
> > suppose to manage the whole economy, not just a component of it. Their
job
> > is to prevent a bank failure like the Continetal Illinois, LTCM, etc.
> >
> > : > ....... and (4) providing certain financial services to the U.S.
> > : > government, the public, financial institutions, and foreign official
> > : > institutions, including playing a major role in operating the
nation's
> > : > payment systems.
> > :
> > : All this suggests that the Fed is a public servant, and therefore
> > : responsible to the private sector which lends it's authority to
> > : government and not vice versa.
> >
> > Which private sector? The financial speculators/market participants or
Joe
> > Six Pack and his crew of working stiffs? Where did you get the idea that
> the
> > only entity the Fed is responsible to is the financial markets?
> >
> > Their job is manage the economy. Not to act on the whims of a market
> > participant.
> >
> > : I believe the Constitution
> > : aptly begins "We the people...". And if the concurrent language
> > : of the Fed Reserve does not in fact reflect this, I would humbly
> > : submit that it is long overdue. An added section to such charter
> > : might begin "First, do no harm..."
> >
> > Bitch to your local congressman/woman. Then join the American Medical
> > Associations.
> >
>
>
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