How does the Fed issue effect your vote? - 600RR.net
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View Poll Results: So how does the Fed issue effect your vote?
Big time! Go Ron Paul! 10 47.62%
Some, I'm interested. 6 28.57%
None, I could care less. 1 4.76%
I don't understand the issue. 4 19.05%
Voters: 21. You may not vote on this poll

 
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post #1 of 17 (permalink) Old 12-15-2007, 08:27 AM Thread Starter
 
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How does the Fed issue effect your vote?

This week the Federal Reserve Bank lowered interest rates ¼ of a percent. That sounds like something the government does and with a little research here and here I found out that there is a corporation devoted to maintaining the money supply and that there are many that question the value of such and organization.

Candidates like Ron Paul say that the Federal Reserve at best lacks transparency and at worst is a cartel. There are few websites that are “pro” fed the most like Gold a Fiat Currencies and What is the Fed don’t really seem to explain the whole situation.

So, in my third 600rr posting, friends what is the fed and is it as insidious as suggested? And, in the maelstrom of non-sense issues for the 2008 elections does your opinion of the Fed play a significant factor?

Last edited by millerz1897; 12-15-2007 at 08:29 AM.
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post #2 of 17 (permalink) Old 12-15-2007, 08:31 AM
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Ohhhh boy, Moto44 is going to be all over this like white on rice to ask questions about your questions!
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post #3 of 17 (permalink) Old 12-15-2007, 08:51 AM
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You aren't giving people enough options in your poll, IMO. For instance in my case, the Federal Reserve and where it sets with the discount rate is of very high interest to me, but I could care less about Ron Paul. And I wouldn't agree that the Fed is a cartel.


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post #4 of 17 (permalink) Old 12-15-2007, 09:01 AM Thread Starter
 
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Originally Posted by deedub View Post
You aren't giving people enough options in your poll, IMO. For instance in my case, the Federal Reserve and where it sets with the discount rate is of very high interest to me, but I could care less about Ron Paul. And I wouldn't agree that the Fed is a cartel.
Good point, I didn't want to get to the nitty-gritty that they only set the fed funds rate not really the actual street rate.

But one can realize that there is a direct correlation. :)
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post #5 of 17 (permalink) Old 12-15-2007, 09:26 AM
 
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The Fed is a government agency that is supposed to be seperate from the rest of the government. It's supposed to be it's own entity.

Unfortunately, that anonymity in decision making as left with the likes of greenspan. Bernanke seems as a people pleaser and only wants to view things in the short run, hence rate cuts.

What the economy really needs right now is a recession. That and to stop helping out people that screw themselves and handle financials like 4 year olds.

Basically, the rates need to start going the opposite direction to stop people from throwing their money in to sinkholes and re-evaluate their monetary situations.

Just my .02
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post #6 of 17 (permalink) Old 12-15-2007, 09:29 AM
 
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Originally Posted by deedub View Post
You aren't giving people enough options in your poll, IMO. For instance in my case, the Federal Reserve and where it sets with the discount rate is of very high interest to me, but I could care less about Ron Paul. And I wouldn't agree that the Fed is a cartel.

Ditto. Could care less about Ron Paul. Fed action is EXTREMELY important to me though. It should be to everyone, well, if you have any money or plan on buying anything, or intend to save any time soon....
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post #7 of 17 (permalink) Old 12-16-2007, 04:15 AM
 
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Ditto. Could care less about Ron Paul. Fed action is EXTREMELY important to me though. It should be to everyone, well, if you have any money or plan on buying anything, or intend to save any time soon....
Why could you care less about Ron Paul?
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post #8 of 17 (permalink) Old 12-16-2007, 12:05 PM
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Originally Posted by Rogerssp05 View Post
The Fed is a government agency that is supposed to be seperate from the rest of the government. It's supposed to be it's own entity.

Unfortunately, that anonymity in decision making as left with the likes of greenspan. Bernanke seems as a people pleaser and only wants to view things in the short run, hence rate cuts.

What the economy really needs right now is a recession. That and to stop helping out people that screw themselves and handle financials like 4 year olds.

Basically, the rates need to start going the opposite direction to stop people from throwing their money in to sinkholes and re-evaluate their monetary situations.

Just my .02
that is what they want you to think, the FED is really just a privately owned central bank, there is a lot of info floating around which proves it.

http://www.youtube.com/watch?v=5NX8SdLIDuY
http://www.youtube.com/watch?v=ZWKlz2Z4Nlo
http://www.youtube.com/watch?v=sTqDFss24Hw
http://www.youtube.com/watch?v=ot0M0fY2FIs
http://www.youtube.com/watch?v=BPU8w7Bxc0A

please watch before you criticize, open your mind.


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post #9 of 17 (permalink) Old 12-16-2007, 02:25 PM
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Quote:
Originally Posted by Rogerssp05 View Post
The Fed is a government agency that is supposed to be seperate from the rest of the government. It's supposed to be it's own entity.

Unfortunately, that anonymity in decision making as left with the likes of greenspan. Bernanke seems as a people pleaser and only wants to view things in the short run, hence rate cuts.

What the economy really needs right now is a recession. That and to stop helping out people that screw themselves and handle financials like 4 year olds.

Basically, the rates need to start going the opposite direction to stop people from throwing their money in to sinkholes and re-evaluate their monetary situations.

Just my .02

Totally agree the fed needs to cut back on spending by pursuing a tight money policy and not monetizing the debt. However, one of the disadvantages in allowing politicians control over the money supply is that their motives may be based on near sighted goals such as supporting partisan agendas and gaining reelection not what may be be better for the economy from a macro perspective.
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post #10 of 17 (permalink) Old 12-16-2007, 06:53 PM
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Originally Posted by deedub View Post
in my case, the Federal Reserve and where it sets with the discount rate is of very high interest to me, but I could care less about Ron Paul.
To care about one and not the other is an oxymoron as Ron Paul is the ONLY candidate on either side that gives the Fed question serious consideration. All the other candidates either ignore, or just do not understand the significance of the "Federal" Reserve.

If you serious want the Fed to be held accountable, one whould need to support Ron Paul as any other candidate will be status quo...

Ben
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post #11 of 17 (permalink) Old 12-18-2007, 12:56 PM
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Same Who cares about Ron Paul..... And Cutting the prime rate is a better way to stimulate the economy than deficit spending!!!
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post #12 of 17 (permalink) Old 12-18-2007, 01:57 PM
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Same Who cares about Ron Paul..... And Cutting the prime rate is a better way to stimulate the economy than deficit spending!!!
Uhm, I'm not sure if you are joking or not...

Cutting the prime rate is what leads to bubbles. The ENTIRE housing fiasco came into existence from the prime rate going from 7% (pre 9/11) to 1.5% BY THE Fed.

Economics in One Lesson by Hazlitt is a book I highly recommend to everyone for a brief overview.

Ron Paul is the ONLY candidate that addresses this issue.

Ben
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post #13 of 17 (permalink) Old 12-19-2007, 04:43 PM
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Originally Posted by Benman55 View Post
To care about one and not the other is an oxymoron as Ron Paul is the ONLY candidate on either side that gives the Fed question serious consideration. All the other candidates either ignore, or just do not understand the significance of the "Federal" Reserve.

If you serious want the Fed to be held accountable, one whould need to support Ron Paul as any other candidate will be status quo...

Ben
I think you are oversimplifying as many people often do. There is usually more than one opinion on any given subject, and it may be different than your opinion and that of Ron Paul. Who are you to tell me how to think on this, or any other issue.

To have a different political political opinion than you is my constitutional right.


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post #14 of 17 (permalink) Old 12-19-2007, 05:29 PM
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Originally Posted by deedub View Post
I think you are oversimplifying as many people often do. There is usually more than one opinion on any given subject, and it may be different than your opinion and that of Ron Paul. Who are you to tell me how to think on this, or any other issue.

To have a different political political opinion than you is my constitutional right.
I'm not "telling" you what to think. I am simply pointing out the contradiction of caring about the practices of the Fed, yet not caring about the only candidate that is addressing that issue. Hillary, Obama, Edwards, Thompson, Romney and Giuliani all have not so much as to have even wispered a peep in regards to reforming/restructuring/getting rid of the Fed.

If you do not like Paul, yes, you are correct, it IS your Constitutional right. But saying you are interested in changing the Fed, yet still saying you have zero interest in Ron Paul is a contradiction. But it IS still your right.

Ben
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post #15 of 17 (permalink) Old 12-19-2007, 05:33 PM
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Quote:
Originally Posted by OveRReV View Post
that is what they want you to think, the FED is really just a privately owned central bank, there is a lot of info floating around which proves it.

http://www.youtube.com/watch?v=5NX8SdLIDuY
http://www.youtube.com/watch?v=ZWKlz2Z4Nlo
http://www.youtube.com/watch?v=sTqDFss24Hw
http://www.youtube.com/watch?v=ot0M0fY2FIs
http://www.youtube.com/watch?v=BPU8w7Bxc0A

please watch before you criticize, open your mind.

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post #16 of 17 (permalink) Old 12-19-2007, 05:46 PM
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Originally Posted by Benman55 View Post
I'm not "telling" you what to think. I am simply pointing out the contradiction of caring about the practices of the Fed, yet not caring about the only candidate that is addressing that issue. Hillary, Obama, Edwards, Thompson, Romney and Giuliani all have not so much as to have even wispered a peep in regards to reforming/restructuring/getting rid of the Fed.

If you do not like Paul, yes, you are correct, it IS your Constitutional right. But saying you are interested in changing the Fed, yet still saying you have zero interest in Ron Paul is a contradiction. But it IS still your right.

Ben

Obviously you are having a little difficulty with reading and comprehension of the English language. Please allow me to assist. Here is my direct quote from my post. Please feel free to read it yourself if you think I am altering it in any way:

"You aren't giving people enough options in your poll, IMO. For instance in my case, the Federal Reserve and where it sets with the discount rate is of very high interest to me, but I could care less about Ron Paul. And I wouldn't agree that the Fed is a cartel."

Now, just how to you get (your quote) "But saying you are interested in changing the Fed, yet still saying you have zero interest in Ron Paul is a contradiction." out of my statement??

Has it ever occurred to you that I might think the Fed is important, but I don't WANT to change it?

Just a little tip, READ the posts before you start making these generalized, and may I say inaccurate, statements.


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post #17 of 17 (permalink) Old 12-19-2007, 06:18 PM
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Just a little tip, READ the posts before you start making these generalized, and may I say inaccurate, statements.
My bad. I mistook your comment "very interested in where it sets the rate" for you wanting to change it. If I now understand you correctly, you are very interested in what the fed does, but do not care if the Fed retains the ability to artificially change the rate from 1% to 20%? Is this a correct assumption?

Ben
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