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A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading "has become the fraud du jour," according to Michael Dunn of the U.S. Commodity Futures Trading Commission.  But "the market has long been plagued by swindlers preying on the gullible," according to the New York Times . "The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal. . The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."
Originally posted by redhatty
Well, technically, he is correct. It's not a Gov takeover, it's a Central Bank takeover.
Remember it is Federal Reserve Bank Intervention happening, and the Federal reserve bank is no more a Federal entity than Federal Express
Originally posted by Unnoan
can you clarify this? i think i understand what you mean, but this little voice sitting on my desk hear at work is screaming at me that the Federal reserve bank is under the dept of the treasury and we all know where that leads.
On December 23, 1913, the Federal Reserve Act, also known as the Glass-Owen Bill, was passed. The Republican controlled Senate rammed the bill through when many members of the US Congress were home for the holiday. The President, Dr. Thomas Woodrow Wilson, signed it into law one hour after being passed by the Congress! Somebody very powerful really wanted this law passed. The Federal Reserve System is an independent central bank. Although the President of the United States appoints the chairman of the Fed, and this appointment is approved by the United States Senate, the decisions of the Fed do not have to be ratified by the President, or anyone else in the executive branch of the United States government. Buried in the legislation was the granting of total power over the monetary policies of all US banks. A very curious statement is found in the original 1913 law. SEC. 30. The right to amend, alter, or repeal this Act is hereby expressly reserved.
Originally posted by KaginD
...IMO I think they have done enough damage and should just let it alone and see what happens...