Let me get this straight...The FED can loan as much money as they want...

[Junkdrawer]

to whomever they want to, without even informing Congress as to whom they're lending to...

BUT...

We, the tax payers, our children and our children's children pay the interest on the Treasury Bonds that make all this happen...

Do I have that right? :shrug:

[Veritas_et_Aequitas]

1. Yeah. I'm pretty sure that's how it works.

[Romulox]

2. RIght. Because the Fed is "private". It's just the OBLIGATIONS that are public.

Thank god it passed &/c.

[leftstreet]

3. Taxpayers should sue

Strapping the public with a private debt.

[Neshanic]

4. Uh, yup.

[Phred42]

5. Not a bad gig for a private corporation eh?

:grr:

[Junkdrawer]

7. KInd of makes the $700 Billion look like an exercise in FED PR...

"Well, Congress did approve the $700 Billion, so we just assumed that Congress gave implicit approval to our efforts..."

[DJ13]

6. Yep, and they wont bypass banks and loan directly to consumers

no matter what.

Even if all the banks refuse to make new loans, they wont bypass them (and their profits) to spur the economy.

[luvbrothel]

8. I know this kinda sounds crazy, but

JFK was ready to stop buying the Fed currency note, and start having the Treasury print our own currency, backed by silver. Then he was killed. Scary.

Seeing how the Fed treats our tax dollars as one giant piggy bank for the wealthy, I would say its time to end the charade and close them down. Of course that means some people will get their heads blown off, trying to cut off trillions in play money to some extremely powerful people...

[razors edge]

9. Too bad we can't just

buy a printing press or two and print up some Greenbacks like Lincoln, or some Silver Certificates like JFK.

Uh... wait a minute, I think I see a pattern here.

[aldo]

10. Abolish the Fed

nt