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YouTube - Americans' Opinion of Federal Reserve Board Sours Curiosísimo el video. Creo que sólo muestra un aumento del descontento respecto a entidades financieras. Sospecho que el resultado será el mismo si le preguntan a la gente por su percepción de la banca en general. Otra cosa me llama poderosamente la atención. Ponen a la Fed en el lote de "Federal Agencies" cuando no lo es. O no lo saben o siguen promoviendo la idea falsa que es un banco público. Lo dicho, no creo ni que el 1 por mil conozcan el status de la Fed.
__________________ ![]() ![]() ![]() ![]() Hilo bid-ask monedas 12 euros para veteranos Alluda: Como kolocar morralla de plata Hilo oficial de confesiones del padre Monster Lista de calumniadores y mentirosos: Buster. |
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| No sé si alguien lo posteo ya, espero que no. En este video Bernanke (parece nervioso, tratando de vender el cuento) trata de convencernos que para ser independiente, la Fed no puede ser controlada por el Congreso. O sea: el congreso puede controlar al Presidente, a los Jueces del Tribunal Supremo, pero la Fed debe estar fuera de control. Más allá de la Ley 12.160Mhz |
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| Editorial de FT hoy sobre el papel de los bancos centrales, incluyendo la FED. The current fashion for attacking central banks is understandable but it risks going too far. Whatever mistakes were made before the global financial crisis, the principle of independence is a vital part of modern economic policy-making. To undermine it would be a serious step backwards. Opposition to the idea of a central bank has a long and colourful history in the US, going back to President Andrew Jackson. Old Hickory’s successor is Republican Ron Paul, who wants the Federal Reserve on a much tighter leash. In Europe, the European Central Bank has been the target of regular bashing by French presidents. Tant pis. The more alarming development was Chancellor Angela Merkel’s attack last June. Germany, after all, cast the ECB in its own Bundesbank image. Today’s sudden suspicion of central banks contrasts with the past decade, when adulation reached absurd proportions. Alan Greenspan, the long-serving Fed chairman, was widely assumed to have Delphic qualities. The usually hard-headed Senator John McCain once quipped that if Mr Greenspan died, he would prop him up with sunglasses and keep him on. So the era of economic theocracy, in which unelected experts ran the global economy, is over. But politicians’ lust for control is no guarantee of better economic management. To rebuild the edifice of global finance, the pillars that held it up must be preserved and strengthened, not torn down. Although central banks failed to prevent the crisis, independent central banking was one of the successes. More political control is the wrong response; we must put their independence to better use. The principle behind independence was that the central bank would pursue a government-mandated objective with discretion on how to achieve it. This way, it would be more insulated from political pressure and thus more likely to stick to a firm course. The overriding objective was low and stable inflation. Central banks fulfilled their mandate remarkably well; arguably, too well. The Fed kept interest rates low when China’s growing trade with the world created a powerful deflationary force among its trading partners. Letting prices fall might have been the best adjustment to this shift. Keeping them stable contributed to overleverage that fed the credit bubble. Leverage must be controlled to stabilise not just prices, but the financial system as a whole. This can be achieved by a host of institutions and regulators, but the buck must stop in one place. There must be a lead body orchestrating policy somewhere. Given the role of liquidity in financial stabilisation, that somewhere should be a central bank imbued with enough independence to make hard calls. Of course, a systemic stability role inevitably drags a central bank into the political mud pit. The risks are greater when a regulator plays God, deciding which banks should live or die in a crisis. Look at the tug-of-war over Fed chairman Ben Bernanke’s role in Bank of America’s takeover of Merrill Lynch. Critics rightly say central banks lack democratic legitimacy for such steps. But politicians are too vulnerable to short-term pressures to do what must be done (which is why independent rate setting works best). The dilemma would be significantly eased by resolution regimes for the largest banks that force unsecured creditors to swap debt for equity in a failure. Immediate and automatic recapitalisation can keep a failed bank’s operations ********ing with new shareholders, removing public policy reasons for rescuing it. Individual banks’ capital adequacy then ceases to be a systemic concern. Achieving this must be a top priority, since it frees a systemic regulator to focus on capital in the financial system as a whole. That job is best done by central banks, who have the tools to do it. They must not now be prevented from using those tools. If central banks are no longer responsible for individual banks’ survival, they are less likely to miss the systemic wood for the trees, and they can avoid being caught in political crossfire. A proper resolution regime that lets big banks fail would make independence politically simpler. Independence does not mean no accountability. Price stability mandates were effective because of institutionalised forms of reporting. These should also be designed for a mandate to prevent systemic overleverage. This is hard – not least to define the target to which central banks can be held. But their independence must be safeguarded. Imperfect though it is, the alternatives are far worse. Copyright The Financial Times Limited 2009 Sorry, el link no me funciona
__________________ Quieres hacer el favor de callarte, por favor. |
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| La ley ha pasado el congreso porque ha tenido más co-sponsors que la mayoría necesaria. Ahora está en el senado donde será más dificil. Jim De Mint intentó que se votará al añadirla a un paquete de leyes, pero los líderes de los partidos se opusieron y invocaron una regla que ya no se usa para evitarlo. Lo divertido es que se habían añadido unas cuantas leyes que violaban la regla esta y no había habido ninguna protesta. En cambio, con la de auditar la Fed no la dejaron pasar. Pero incluso en el congreso está empezando a coger fuerza, y ya tiene 20 co-sponsors cuando empezó solo con 2. La presión popular está siendo muy fuerte, y la gente incluso cuelga en Youtube videos de como ir a pedirle a su congresista que apoye la ley. Una vez pase el senado, deberá volver al congreso (creo) donde debería pasar al tener mayoría de co-sponsors. Y si se llega a este punto, lo último que faltaria sería la firma del presidente. El presidente Obama no permitirá que esta ley tire para adelante, la betará, pero quedará retratado. Los dos grandes escollos son el senado, pero sobretodo el presidente. |
| Estos usuarios dan las gracias a hugolp por su mensaje: | ||
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El presidente Obama no permitirá que esta ley tire para adelante, la betará, pero quedará retratado. Sabes que has hecho llorar al Niño Jesús, ¿verdad?
__________________ ![]() "Con el debido respeto, señor, se me están empezando a inflar los cojones" Mi biografía |
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| 8/3/09 Adam Kokesh on Russia Today: Audit the Fed! The reason the US Federal Reserve resists an open audit is that if it happens, people will see that it is just another government scheme to steal money from the poor, said Adam Kokesh, a Congressional candidate. |
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| El 75% de los ciudadanos de EEUU quiere que la FED sea auditada Desde hace meses, el congresista republicando Ron Paul lidera una ardua lucha política para que el poder legislativo de EEUU apruebe una normativa revolucionaria, consistente en someter a supervisión política las deliberaciones y decisiones monetarias de la Reserva Federal (FED). Hoy por hoy, el banco central de EEUU, al igual que el resto de sus homólogos, actúa bajo secreto de sumario. Sus deliberaciones no son públicas con el fin de garantizar su independencia del poder político.
__________________ ALLAH HA PERMITIDO EL COMERCIO, PERO HA PROHIBIDO LA USURA Qur'an 2, 275 |
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| El congreso es posible que lo pase, pero del senado no pasará, cuando lo del robo de las elecciones de bush, hubo varios congresistas que intentaron abrir una investigación, para ello unicamente necesitaban la firma de un senador, mientras Al Gore comenzaba de presidente del senado, y ni uno solo de los senadores firmó, ni uno. |
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