Respect has to be earned, Ludwig.

>>Perhaps those that do participate need to be a little more respectful of each other.<<

So far, Arjay's contributions to the various threads that concern international finance have been short on fact, and long on fantasy.

If that changes, we might just be able to have a meaningful dialogue on what is a very difficult problem. Petty political grandstanding does not further anyone's understanding, and is mostly look-it-me posturing anyway.

As it happens, I am very concerned about the shape of the recovery from the financial crises that are unfolding across the world. The US and Europe will both emerge with less financial authority, that is for certain.

That is interesting enough from a global perspective, but what matters more to the average punter is the longterm impact on their earnings and savings. Rabbiting on about the antics of self-serving Congressmen and the evils of debt doesn't advance either discussion one iota.

The sooner we can get away from "Fed-mania" and talk about real issues, the better.

perecules whats the issue..[you dont like audit?]

whats the worry about govt knowing what the fed balancesheet really is
why musnt govt know what the trillions of off balance sheet transacrions are?

whats the secret?

how come govt dont have the legal juristiction to audit the fed..[to give normal govt oversights over what is commonly believed to be a govt instrument..

[but is in fact a private franchise to issue/create money,at the whim of those selling it for ursury]bankers..

the qustions asked at the vidio are simply questions..
[what frightens you about it so?

Pericles:

Why do you have to immediately accuse Arjay of "political theatre" and "stirring the conspiracy pot"?

No doubt that your own mindset tells you that the "Bildenberg Society" is a ladies knitting group that are simply planning an afternoon picnic for all the underprivileged of the world?

Arjay has posed a question that is definitely deserving of a sensible answer, and he is quite right regarding the long term affects of this US fiscal policy, which in itself will flow on to Australia in one form or another.

It amazes me that people like you cannot simply answer a question with a straightforward reply instead of resorting to ridicule and "put down" in an apparent desire to display your own perceived mental superiority!

Big Banks Have ALREADY Killed Reforms
extracted/from
http://www.washingtonsblog.com/2009/05/big-banks-have-already-killed-reform-of.html

Many mainstream pundits are claiming that a wave of regulation and reform of the banks and the financial industry is on its way.
http://www.google.com/search?q=wave+of+regulation&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

On the other hand,some alternative news writers are saying that real reform may never really happen(see this,for example).
http://www.huffingtonpost.com/arianna-huffington/everyone-agrees-we-need-t_b_207424.html

Indeed,Obama has appointed to most of the key economic posts the people most responsible for deregulation in the first place.

In fact,..in at least one area..one of the most important causes of the financial crisis..reform has already been defeated.

By way of background,he derivatives industry has volunteered ..once again)to regulate itself.
http://www.washingtonsblog.com/2009/03/self-regulation-of-derivatives-industry.html

As Newsweek noted April 10th,the big boys were using bailout money to aggressively lobby against the regulation of credit default swaps:
http://www.newsweek.com/id/193360

Major Wall Street players are digging in against fundamental changes...At issue is..the firms may soon be recapitalized and have a lot more sway in Washington—all of it courtesy of their supporters in the Obama administration...

The financial industry isn't leaving anything to chance,..Its goal: to stand against heavy regulation of.."over-the-counter"..derivatives, in other words customized contracts that are traded off an exchange...

Geithner's new rules would allow the over-the-counter market to boom again,orchestrated by global giants that will continue to be.."too big to fail"..(they may have to be rescued again someday,..And most of it will still occur largely out of sight of regulated exchanges...
http://dprogram.net/2009/05/26/msm-ohio-counties-want-to-use-siezed-assets-to-fund-services/

The old culture is reasserting itself with a vengeance..
http://www.washingtonsblog.com/2009/05/more-proof-that-credit-default-swaps.html
in other words,as opposed to the insiders who are still running the show.
http://wethepeoplefoundation.org/UPDATE/Update2009-05-25.htm
http://revolutionarypolitics.com/?p=840

And today,Treasury gave the financial giants exactly what they wanted.As Bloomberg writes in an article entitled.."Wall Street Derivatives Proposals Adopted in Treasury Overhaul":
http://www.bloomberg.com/apps/news?pid=20601109&sid=aMMeY6OodQW4&refer=home

Excellent point, Crackup

Now Pericles, stop with attacking the man and start answering Arjay's reasonable question. Oh, and start earning a little respect, man.

Thank you

I'll certainly try, Fractelle.

>>Now Pericles, stop with attacking the man and start answering Arjay's reasonable question. Oh, and start earning a little respect, man<<

Which question?

So far, the only question Arjay has posed is "What more needs be said?"

I have answered that one.

Lots.

He makes many "statements", though.

>>A total of $9 trillion is unaccounted for and the Inspector cannot even account for a small portion of this.<<

I asked where this information can be found. No answer.

On another thread he stated

>>The amount of money in the US has doubled in 8 months<<

I asked where this information can be found. No answer.

>>The US Fed is an abomination whose power must come to an end!<<

His justification for this view?

>>the Corporate Elites now control the USA<<

>>people who have and are still making a fortune off the creation of legalised counterfeit money by our banking system<< etc.

But once again, no facts.

>>I would not believe anything the US Federal Reserve Says ,since they are responsible for this debacle<<

Arjay seems to be convinced that there is a bunch of bankers hiding away in the Fed, churning out dollar bills in order to corrupt the system.

I have tried to explain that the Banks - while they have been lax, negligent, greedy and stupid - are not the instigators of our problems. We are. Their laxity, negligence etc. just happens to aggregate (and to an extent aggravate) the problem, not create it.

In the same way, the Fed is reacting to the problems with the banking system, and creating more debt to ensure the entire system doesn't collapse in on itself.

Instead of intelligent responses, I get:

>>Pericles [is] driven by an agenda who want to see the return of the share market bubble financed by bankster counterfeiting of our currency... Pericles,you like many others have been making easy money on the back of real productive capacity...Your moral compass is buried deep beneath your banking shares<<

Now, what was that about "attacking the man"?