$600 billion worth of U.S. Treasuries………… unconstitutional

• Belly35

  

  $600 billion worth of U.S. Treasuries………… unconstitutional
  
  The Obama Administration is over their heads and has created a number of additional issues that they have no reasonable solution on how to correct. This Administration and Obama has not respect for the US Constitution, the American Public, and the future of American. Public Servant Obama is on a mission to save his ass not America.
  How many times in the passed two years have the Democrat Majority of both House and this Administration breach The U S Constitution?
  
  This purchase of $600 billion worth of U.S. Treasuries is a desperation act that will damage the US Economy for ever….
  
  http://www.foxbusiness.com/markets/2010/11/09/fed-breaking-law/
  
  
  
  
  Time for Impeachment Process……to start……
• ptown_trojans_1

  

  1. The Constitutionality of the FED goes back to the FED's creation way back in the early 20th century. This is not a new debate.
  2. The FED operates independently of the Obama administration. Bernanke does not report to Obama, only Congress.
  
  So, blaming the administration for this move means you have no idea how the FED operates or its history. Just one more example of pure hatred toward the administration. This is really Bush level hatred.
• CenterBHSFan

  

  My problematic question is: Can the US even go back to the gold standard now?
  
  What would happen if we tried?
• IggyPride00

  

  Are my eyes deceiving me, or is Belly calling for the government to take over a private enterprise and put it under explicit government control?
  
  I hope that some of the recent conservatives I have seen attacking the Fed in the media realize that doing so undercuts the idea of getting government out of the way and letting the free market and private enterprise work.
• Belly35

  

  ptown_trojans_1;552384 wrote:1. The Constitutionality of the FED goes back to the FED's creation way back in the early 20th century. This is not a new debate.
  2. The FED operates independently of the Obama administration. Bernanke does not report to Obama, only Congress.
  
  So, blaming the administration for this move means you have no idea how the FED operates or its history. Just one more example of pure hatred toward the administration. This is really Bush level hatred.

  I’m complete award of the FED operates independently of the Obama administration. However see article:
  http://news.yahoo.com/s/ap/us_financial_overhaul
  
  Independently yes, in collaboration is the question and to what influence is the Obama Administration pressuring …?
  
  Hate for Obama …I don’t hate Obama hell I would play a round of basketball with him (has no moves to the right) or have a beer or two. May I remind you that I don’t vote party lines (except for this past Nov election)
  I just don’t like his political agenda for America nor do I like his attitude about America…. And his methodology of politic is against my moral and values. Obama is just a guy like me he is no better or worse but he has not given me any reason to support him as President.
  Hate him no, respect him no, honor him no, believe in him no, trust him no …he just a guy with a wife that has better man arms than he does.
• Belly35

  

  IggyPride00;552416 wrote:Are my eyes deceiving me, or is Belly calling for the government to take over a private enterprise and put it under explicit government control?
  
  I hope that some of the recent conservatives I have seen attacking the Fed in the media realize that doing so undercuts the idea of getting government out of the way and letting the free market and private enterprise work.

  No! What I calling for is this Congress ( ballless bastards) and the Administration (socialist asholes) and Obama (Public Servant) to get a set of balls and read the US Constitution and adhere to it as the cornerstone of our great country.
• I Wear Pants

  CenterBHSFan;552396 wrote:My problematic question is: Can the US even go back to the gold standard now?
  
  What would happen if we tried?

  Why do people think that going back to the gold standard would fix anything?
  
  And how is this unconstitutional? This is within the FED's powers.
  
  Now, I don't think this is the greatest idea ever but that doesn't mean it is somehow unconstitutional.
• majorspark

  

  IggyPride00;552416 wrote:I hope that some of the recent conservatives I have seen attacking the Fed in the media realize that doing so undercuts the idea of getting government out of the way and letting the free market and private enterprise work.

  The Fed is hardly a free market private enterprise. Show me one private corporation that has its board appointed by the president and approved by the senate. The Fed is a semi independent arm of the federal government. Its governors are appointed in a similar fashion as the federal judiciary except they are term limited. The Fed functions like a 4th branch of the federal government. We have the executive, legisilative, judicial, and in 1913 (outside of the amendment process) the creation of the monetary branch.
• derek bomar

  

  this really is a sweet deal for those on Wall St. Not only now do they have a buyer who is willing to pay a market premium for their current treasuries, but they're going to get advanced warning on when they're going to buy them (i.e. they'll buy them before this and be able to make a nice spread)...you know what I think they should do with 600b? They should distribute it equally to people over 18. By my quick math that'd be about $2,500/person in the US. That's a stimulus...not lining the pockets of the people who got us here in hopes that we give them now an incentive to lend...
• CenterBHSFan

  

  I Wear Pants;552473 wrote:Why do people think that going back to the gold standard would fix anything?
  And how is this unconstitutional? This is within the FED's powers.
  Now, I don't think this is the greatest idea ever but that doesn't mean it is somehow unconstitutional.

  
  Hence my description of problematic. I have many questions about the gold standard, hence my questions lol
  
  I also wonder if the gold standard would reign in government spending?
• IggyPride00

  

  CenterBHSFan;552644 wrote:Hence my description of problematic. I have many questions about the gold standard, hence my questions lol
  
  I also wonder if the gold standard would reign in government spending?

  
  Here is a an interview done this week by Dr. Doom Nouriel Roubini on why a gold standard won't work. He is the antithesis of a liberal economist, so it is not like this is coming from someone like Paul Krugman who despises the idea of not being able to just print money at will.
  
  http://www.cnbc.com/id/40088925/
• CenterBHSFan

  

  Thank you for answering, Iggy!
  
  What he says makes sense to me, as far as what little I know/pay attention to these sorts of subjects. But, it still leaves me with questions, as his argument is just that... an argument. (more like a educated hypothetical than an argument)
  
  So, since this is really a two sided argument, I'll just leave my questions where they are. I don't really need to be swayed one way or the other right now, I just find the concept intriguing.
• believer

  

  majorspark;552506 wrote:The Fed is hardly a free market private enterprise. Show me one private corporation that has its board appointed by the president and approved by the senate.

  General Motors?