Quote:
Originally Posted by onwebcam
The Fed rate should be a fixed rate.. Less than 1%.. A group of private bankers shouldn't be determining how much money they get to make on trillions of dollars created out of thin air.
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The sad reality is the fed is your last defense to control what the policy makers fail to do.
Keeping it from a run-away inflation that ultimately would destroy us all.
Do they over-react at times... yes, but they do that based on the facts on the ground and projections of the future from that.
The folks that have the most 'BITCHING' to do about it always comes when rates go up and those are the folks that have little CASH and plenty of DEBT. They believe in making money with other folks money and they really mean loose other folks money when the profits run dry and they fold the debt without personal liability.
If you were to change the rate to 1%, banks would borrow money from the Fed at 1% and lend it to the government for 2.5%... oh wait... thats what they were doing... and you were paying for it. It was a form to prop-up the banks after the collapse.
You want more ?
The banks were indebted to the government, now it is the other way around and you want to give the banks more money to manipulate commodities ? That makes things cost you more in the case you don't realize it. It costs jobs in the case you didn't realize it.
The Fed is doing a fine job predicting the future and I doubt you can do better. The larger issue is Congress is not doing it's job... they leave it to the fed to clean up the mess they create.
And you have yet to feel the impact of those tax cuts....LOL
Don't worry, the Fed will clean that mess up also. You will be paying for it.