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The incoming Obama administration is considering setting up a government-run bank to acquire bad assets clogging the financial system, a person familiar with the Obama team's thinking said on Saturday.
The U.S. Federal Reserve, Treasury and Federal Deposit Insurance Corp have been in talks about ways to ease a banking crisis that is once again deepening -- and a government-run "aggregator bank" is among the options.
In addition to steps to bolster banks, Obama officials want to aggressively attack the underlying causes of the credit crisis: the sharp downturn in the U.S. housing market and the related deterioration in mortgage-related assets.
Originally posted by Make Speed Limit 45
reply to post by FlyersFan
If he's talking about a a national bank that can print it's own money instead of borrowing from the Fed, then that's a decent idea.
Originally posted by Amniodarone
If a national bank could print its own money, how would it differ from the Federal Reserve? It would in essence BE the Fed.... wouldn't it?
Originally posted by Unmask The Deception
reply to post by Amniodarone
It would appear that way at first glance. However, money printed for the US by the US is actually better because the money is not being created OUT OF DEBT.
The FED only prints our money, then demands it back with interest. The money was not theirs to begin with so basically the FED will end up with everything in the end. It is not possible to pay the debt back to the FED without the FED loaning out more of its printed(fake) money. Most Americans do not know that this is how the system works.
Money created by the people for the people (not for the greed of big business or manipulation from foreign bankers) is the only way we can free ourselves from the path of tyranny.
Originally posted by Riviera
This is actually a good idea; that is...if the Bank isn't allowed to get manipulated, the oversight clearer than glass and ensuring no interest would be charged. Once that is setup and ready to go; then they get disband the FED. Personally if the FED were disolved now, all hell would break loose considering how much 'play money' is in circulation. I know I'd be first in line exchanging my FED Notes for U.S. notes.
Originally posted by NightSkyeB4Dawn
do you see where I am going with this?