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<p>[QUOTE="C Jay, post: 582554, member: 13184"]"Never assume malice where incompetence adequately explains the situation." Napoleon</p><p> </p><p>Are there powerful groups pushing for their self interest. Yes, bankers, lawyers, pharmaceuticals, teachers, cops, even coin collectors. Is anyone truly in charge. Nope. Each group tries to influence there own little area, but there are varying interest within the group itself. Who created the Fed? The bankers. Who owns the Fed? The 200 (and declining) member banks. How much a share? 3% of your deposits. How can I become a member bank? Open up branches coast to coast, all national banks must be a member, or have a really large state bank and submit an application. Can I sell my share to some monarch? No, shares can not be sold and must be held, it implies ownership. Can I have Bernakie's job? Only if appointed by the president and ratified by congress. Also, you have to be a regional Governor first, also appointed. Will I be audited? Annually by GAO.</p><p>Of course I did get this off a government web site.</p><p> </p><p>Back on topic. I think gold will remain stable at it's current level with the economy in stall. I don't think hyperinflation is an issue since the bankers are using all that cash to fill potholes in their spreadsheets. If we somehow stumble into another get rich quick scheme and the economy goes charging off in that direction, I think someone at the Fed will remember where the shredders are. My only concern is China and the trade debt. Right now China has been spending their greenbacks on increasing their gold reserve (600 tons in 2006 to over 1000 tons today). Buying mining companies and oil fields. We are buying up basket cases. If they pull out of US treasuries, the dollar will look awfully weak and gold will look awfully good.[/QUOTE]</p><p><br /></p>
[QUOTE="C Jay, post: 582554, member: 13184"]"Never assume malice where incompetence adequately explains the situation." Napoleon Are there powerful groups pushing for their self interest. Yes, bankers, lawyers, pharmaceuticals, teachers, cops, even coin collectors. Is anyone truly in charge. Nope. Each group tries to influence there own little area, but there are varying interest within the group itself. Who created the Fed? The bankers. Who owns the Fed? The 200 (and declining) member banks. How much a share? 3% of your deposits. How can I become a member bank? Open up branches coast to coast, all national banks must be a member, or have a really large state bank and submit an application. Can I sell my share to some monarch? No, shares can not be sold and must be held, it implies ownership. Can I have Bernakie's job? Only if appointed by the president and ratified by congress. Also, you have to be a regional Governor first, also appointed. Will I be audited? Annually by GAO. Of course I did get this off a government web site. Back on topic. I think gold will remain stable at it's current level with the economy in stall. I don't think hyperinflation is an issue since the bankers are using all that cash to fill potholes in their spreadsheets. If we somehow stumble into another get rich quick scheme and the economy goes charging off in that direction, I think someone at the Fed will remember where the shredders are. My only concern is China and the trade debt. Right now China has been spending their greenbacks on increasing their gold reserve (600 tons in 2006 to over 1000 tons today). Buying mining companies and oil fields. We are buying up basket cases. If they pull out of US treasuries, the dollar will look awfully weak and gold will look awfully good.[/QUOTE]
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