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FED put Government on notice

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posted on Jun, 3 2009 @ 12:33 PM
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Bernanke warned congress today that the fed reserve will NOT monetize the debt.

So its either raise taxes or cut spending.


Bernanke warns deficits can not continue

Yeah.... So when can I expect my taxes to skyrocket?




posted on Jun, 3 2009 @ 12:49 PM
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Well this is the perfect chance for several things to happen that in the end could be a plus but of course they won't.

1. The fed obviously can't keep up with govt. spending (which isn't surprising who could?) and the govt. could just say screw it and do away with them all together.

2. Perfect chance to push publicly an audit of the fed because they can't keep up sighting that in reality they don't want to in order to line their pockets with what they have made off this already, push the economy for the average consumer down further in order to start a large scale re-collection of assets (ie. houses cars etc) and re-sell them for even more profit or in some cases just claim ownership of larger corporations in order to extend their power from within the US to even a larger power globally. Then through out examples of what they did during the great depression and the similarities of what they are doing today.

Yes there are all kinds of logical arguments to be made against those 2 items I listed but when it comes down to it fight fire with fire.

Either way the govt. could effectively not only pull the plug on the fed in the end but pretty much put those people that have been all but raping the economical system in poverty. After all if the govt. actually made the money/currency that was used the fed would be worthless.

Like I said not really good idea's but sometimes we have to make a choice of the lesser of 2 evils.



posted on Jun, 3 2009 @ 12:54 PM
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well maybe the answer is not in raising taxes but creating new ones like the proposed Gas tax on cows...not kidding ...the EPA was thinking of imposing a greenhouse gas tax on farm animals... no joke The American Farm Bureau Federation said, based on federal agriculture department figures, it would require farms or ranches with more than 25 dairy cows, 50 beef cattle or 200 hogs to pay an annual fee of about $175 for each dairy cow, $87.50 per head of beef cattle and $20 for each hog.

of course that extra 30,000 40,000 K a year in extra taxes would also put an end to small farmers and ranchers ya know



posted on Jun, 3 2009 @ 12:59 PM
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Just when the media seem to have made everyone forget all the troubles with borrowing trillions, oops Bernanke does it again!




posted on Jun, 3 2009 @ 01:05 PM
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Originally posted by Darthorious
1. The fed obviously can't keep up with govt. spending (which isn't surprising who could?) and the govt. could just say screw it and do away with them all together.


Actually, all they have to do to keep up with demand are create more 1's and 0's on some computer to have all the "money" that could ever be demanded.


Either way the govt. could effectively not only pull the plug on the fed in the end but pretty much put those people that have been all but raping the economical system in poverty. After all if the govt. actually made the money/currency that was used the fed would be worthless.

Remember the golden rule: whoever has the gold makes the rules. The Gov. can't and doesn't even want to get rid of the Fed because the treasury dept can't bring in enough tax revenue or sell enough T-bills to meet the demand of the bureaucracy. If the government couldn't get more funding, it would have to cut back spending decreasing its power. Not going to happen.

We are just going to have to bend over and grab our toes until the system collapses.



posted on Jun, 3 2009 @ 01:11 PM
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I guess reality just caught up with Obama. What happened to 95% of the people will not get a raise in taxes?

They can try a VAT, but I seriously believe that will be a sure fire way to start a tax revolt. The government is in a really bad position right now. IF, and this is a big IF, I were to believe Bernanke doesn't want to monetize the debt it would be political suicide for the Dem's to raise taxes.

Interesting times. So what are they going to do, they are screwed either way, the thing that worries me is once they figure out they are toast in 2010 what kind of crazy legislation are they going ram down our throats.



posted on Jun, 3 2009 @ 01:12 PM
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reply to post by SuperSecretSquirrel
 


Ya I understand that I'm just thinking from a propaganda type style to convince the masses there is no need for the fed. A way to oust them in public opinion and then chances are the govt. could easily oust them with the only consequence being they better be fast on their feet to get a new ball rolling.



posted on Jun, 3 2009 @ 01:34 PM
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whatever the fed has destroyed this country printing trillions of dollars out of thin air, hyper inflation here we come



posted on Jun, 3 2009 @ 02:48 PM
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He didn't exactly say that they wouldn't monetize the debt. He said that while that was one "tools" they had to deal with the economy he would not opt for that at the moment.

Also, during the hearing (I was watching it live on MSNBC) when mysteriously the live feed was cut for about a minute just as Rep Hensarling was asking some very tough questions about the handling of the propaganda related to China. I started a thread immediately when this happened because this Rep was asking the very questions I want to know the answers to. The thread is here: MSNBC cuts live feed of Bernake testimony? He had just said that we were forecasting between 50% and 82% debt to GDP.

So... how much tax you think that equates to??



posted on Jun, 3 2009 @ 03:23 PM
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CNBC is known to cut away when they ask the difficult questions.......must be financial system confidence now falls under national security umbrella.....F..tards

Bernie is resposding to the China laugher..........wants world to take his word.........that the U.S "WILL find a way" ...to show China and the world the "math" they wanted to see...

the same bernanke that talks out his AZZ to keep the public knowing only what they want us to....."subprime is contained"......."losses will be only 100,000"......people should have the same confidence benny is shooting them straight that they have with a used car salesman...with a greasy ponytail....



[edit on 3-6-2009 by cpdaman]



posted on Jun, 3 2009 @ 03:37 PM
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Heh Bernanke - YOU ARE A CLOWN!


The problem is that Bernanke is enabling these sky-high deficits by intervening in the Capital Markets - that is, by buying both agency and Treasury bonds!

IF Bernanke was a true independent central banker, and IF he believed the first word that he was speaking, he would force fiscal restraint by refusing to buy any more MBS or Treasury debt.

Rates would move up, but this would put a 1990s-style bond market slam-hold on President Obama's and Congressional "drunken-sailor style" spending binge.

I only look at what people do - a good part of the time what people say is in fact exactly the opposite of what they're doing, because they are trying to goad you into doing something stupid so they can say "Sold To You!", sticking you with the bag.

I will buy that Bernanke is serious about his so-called "urgings" when he withdraws the idiotic attempt to support both MBS and Treasury issuance.

Perhaps - just perhaps - this speech is a warning - Ben has been reading some Tickers and listening to some Chinese folks, and is starting to get concerned that a bond market implosion may be in the offing - and he has no intention of being the one caught holding the bag when it blows up.

Funny how it only took Ben two years beyond when I started screaming about this in public to figure it out!

More at link

edit to fix tags

[edit on 6/3/09 by redhatty]



posted on Jun, 3 2009 @ 10:15 PM
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reply to post by DaddyBare
 


the answer is not taxing what comes out of a cows ass, but demanding full repayment of the entire capital injection into these institutions, in full, WITH STEEP INTEREST. 10% is fair.

Or, better yet, we should take over JP Morgan ENTIRELY, 100% ownership, then cut it up into small pieces and sell it to the highest bidder. Use the funds generated to pay down some of our deficit.

OR, EVEN BETTER YET...

Null and Void ALL 100% of US Debt owned by these institutions. If you accepted the capital injections, OR by proxy through CDS payments from any other institution who received funds from the Federal Government.. then ALL Treasuries, bonds, any form of debt issued by the Treasury no longer exists.

I believe it's a fair trade.

Because if I had my way, if you didn't comply, I would bring every head executive of every one of these corporations and have them tried for TREASON.



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