One of the reasons why the Fed fights an audit:
A Bloomberg news investigation found that while the Treasury Department was pumping $700 billion into banks under the Troubled Asset Relief Program, the Fed was covertly operating its own bailout program – the biggest in American history. The Fed’s Shadow TARP issued $1.2 trillion in loans to domestic and foreign banks from 2007 to 2010, far more than Congress authorized Treasury to spend under TARP.
That government at all levels is out of control is pretty well understood by all but the politicians and their cronies or dependents. The Federal Reserve is supposedly a private agency, supposedly independent of government influence. It is arguably the most powerful agency or department in the world. And its actions are not subject to review or elections.
How could anything go wrong with this arrangement?
Read more: http://www.politico.com/news/stories/0811/62358.html#ixzz1WenISTeH
In Michael Barone’s article on how both parties have ducked on entitlements, he writes correctly ‘when the ratio of workers to retirees gets to one, we have a funding problem’. I suggest a modified calculation that requries a higher ratio of around 5 workers to retirees. If the Social Security deduction per worker is 12%, the average worker makes $40K, and the average retired person requires $25k for a secure reasonably comfortable lifestlye, for Social Security to have revenue that equals outlays, about 5 workers are needed for each retiree.
Can this be forwarded to Barone?
Well: 35 percent of americans want and like a statist/ socialistic government.another 20 percent cannot be bothered: many of the “normal” citizens seem to be hypnotised or confused by media
So not many people actually”understand” exactly how bad the situation is! Tea party memebers and followers are the only ones who are valiantly trying to get the truth about the dire situation of the country!they are trying to get the. Message and information out:its a battle with CNN and times daily spewing nonsense!
So:
How many people actually know what the consequences are and are going to be further down the line? Its. Deperessing how. Free speech is NOT in USA presently
This gives the feds and the federal reserve banl a lot of room “to play its games”
Not a good ending ahead
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