I'm waiting when they declare default ... the rest is just "no event" silver not $5/oz - so I can have a good sleep
Does the Governor-General, Sir John Kerr's dismissal of the Australian Parliament in 1975 count as a shutdown of Govt. too?
Not true. They say they are independant, and they look independant but they are not. To start off with The president or congress chooses the head of the FED. It is also very clear that the FED is continuing to prop up the US govt. It is not just a coincidence that the FED is buying up nearly all Treasuries that are issued..
To be fair it is a great deal they have got going... essentially they have indentured future American's (or America's future) to the FED for essentially nothing. Same thing with MBS... essentially they have indentured Americas home owners to the fed for yet again essentially nothing. I too would take on as much USG debt if it did not cost me anything and yet promised a return... even if small
The FED does the governments bidding. If it didn't the government can just replace the chairman, it can also dissolve the entire institution. If someone can replace you or dissolve your business, you would do what they asked too.
I think I know what you are getting at, but it is irrelevant. It is Congress that has the power to make those sort of changes, not the other way round. The power of Congress has the legitimacy of the people, not the FED. If all US citizens decided to end the FED, Congress would be forced to do it. This cannot happen the other way round
It looks it is actually is happening the other way around at the moment - The Fed has decided to end the US citizen and congress is being forced to let them do it....
The FED isn't ending anyone. But there is a limit to how much debt anyone can take on. The US govt got themselves into this in the first place. They didn't have to borrow themselves into oblivion. But the did.
I don't see how Congress would be forced to do it? I'm no expert on US politics, but somehow I can't see that there would be rules in place to actually mandate this to happen. Or did you mean that if the US citizens wanted to end the tenure of the Federal Reserve, it would be political suicide for Congress to not listen? If so, I would argue that apathy would reign at the end of the day - a few seats may change hands in the Congress at the next election, but ultimately, the House will still be populated by people busy sitting on their hands shouting vehemently that it's all someone else's fault.
Yeah that's what I meant. It was a big IF IF the public pushed for it, Congress would have to do it at some point, no matter how much they complained. But realistically this is not going to happen, not for a very long time anyway.
I believe that congress has assured Govt. workers that when the shutdown is over they will be backpaid. So, Govt. workers get a free paid holiday.... no consequence to the stand-off... no lesson learned. [youtube]http://www.youtube.com/watch?v=5Zup1xj0FGw[/youtube]
I've posted a Beck video before, didn't cause a big outcry. So here's another one on the 'shutdown'. The shutdown that involves hiring barriers, extra security, commissioning new 'Closed for Shutdown' signs - all of which cost money/currency, to try and prove that the government is out of money. At the same time the Obamacare website is up, call centre is up and translators for 150 languages available. No money, you say? Doesn't ring true. [youtube]http://www.youtube.com/watch?v=_pLKwdpqj6Y[/youtube] I watched another video tonight that stated that since barriers keep getting knocked down by people wanting to visit places that usually have no closing times or gates,they are being wired together. To me that is fortifying the positions. Who are they fortifying against? The People. Strange times.
^^^^^^ very interesting take on the situation. Add to the data-base of WTF is going on in this world.
You think that's bad. They're also trying to close the ocean :lol: They're paying people to stop people using the ocean... seems legit
I wonder if this could go on longer than people think. read an article the other day that suggest republicans would be worried about republicans running against them. they might keep voting this to keep party people happy. http://www.smh.com.au/comment/republicans-to-struggle-with-crisis-they-created-20131003-2ux7m.html
This is very important yet has never been mentioned by the msm. The general impression given is that these workers will not get paid at all full stop. What an absolute rort that they will get backpaid for doing nothing.
