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ry
 
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Fed Cuts Interest Rates to 2%

http://digg.com/business_finance/Fed...rest_Rate_to_2

The Fed's action takes the bellwether federal funds rate, which banks charge each other for overnight loans, to 2 percent, the lowest since December 2004. It was the seventh reduction in a campaign that has brought the key lending rate down by 3.25 percentage points since mid-September.

So who thinks this is the end of the cuts and it will start to go back up?
Old 04-30-2008, 01:48 PM ry is offline  
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red|dragon
 
nah
Old 04-30-2008, 07:54 PM red|dragon is offline  
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Supafly TNT
 
motherfuck the fed abolish the fed fucking corrupt mofuckergs RON PAUL RON PAUL RON PAUL
Old 05-03-2008, 10:54 AM Supafly TNT is offline  
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Xayd
 
today the local republican delegate meeting at the ramada inn banquet room, tomorrow the world!
Old 05-03-2008, 10:58 AM Xayd is offline  
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Ryuuko
 
The banks should drop their mortgage rates to ~ 3%....it wasn't my fault for the sub-prime mess.

My guess the feds will drop the prime two more times.
Old 05-12-2008, 08:59 AM Ryuuko is offline  
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ArmorForSleep
 
in before a bunch of ######s here think they know the economy better than a bunch of PhDs who have studied economies all their lives
Old 05-12-2008, 10:01 AM ArmorForSleep is offline  
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Corbin
 
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because all PhDs agree with everything the fed does
Old 05-12-2008, 12:13 PM Corbin is offline  
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matt00926
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Originally Posted by ArmorForSleep View Post
in before a bunch of ######s here think they know the economy better than a bunch of PhDs who have studied economies all their lives

Doesn't mean they make the best decisions, even if they known them, for the majority of Americans. Not saying they don't, but still.
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Old 05-12-2008, 12:14 PM matt00926 is offline  
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Escaped Gorilla Genitals
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Hey, Jim <3 ules, You didn't deserve this because you can't guess numbers but anyways BREAK ON TH
 
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motherfuck the fed abolish the fed fucking corrupt mofuckergs RON PAUL RON PAUL RON PAUL

lol
Old 05-12-2008, 12:37 PM Escaped Gorilla Genitals is offline  
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Free_Willy
 
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motherfuck the fed abolish the fed fucking corrupt mofuckergs RON PAUL RON PAUL RON PAUL
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Old 05-13-2008, 07:18 PM Free_Willy is offline  
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ArmorForSleep
 
Quote:
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Doesn't mean they make the best decisions, even if they known them, for the majority of Americans. Not saying they don't, but still.

not saying they do, but each time this thread comes up (and the fed has cut rates a LOT lately) everyone seems to be an economics expert because they took a macro econ class in college
Old 05-13-2008, 08:06 PM ArmorForSleep is offline  
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matt00926
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not saying they do, but each time this thread comes up (and the fed has cut rates a LOT lately) everyone seems to be an economics expert because they took a macro econ class in college

well I agree with you there. I also agree if you look at the credentials of the people at the Federal Reserve they obviously know their shit. I assume it's easy for people not very knowledgeable in economics and finance to get sucked into the whole Ron Paul craze about the need to go back to the gold standard ().
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Old 05-13-2008, 08:54 PM matt00926 is offline  
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Free_Willy
 
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well I agree with you there. I also agree if you look at the credentials of the people at the Federal Reserve they obviously know their shit. I assume it's easy for people not very knowledgeable in economics and finance to get sucked into the whole Ron Paul craze about the need to go back to the gold standard ().

But look at Ron Pauls credentials, and the credentials of those that agree with him:

"All the perplexities, confusion and distress in America arise not from defects in our Constitution; not from want of honour or virtue, so much as from downright ignorance of the nature of coin, credit and circulation." - Ex-President John Adams, in a letter to his friend, Ex-President Thomas Jefferson

"As a result of the Civil War, corporations (Banking) have been enthroned and an era of corruption in high places will follow and the money power of the country will endeavour to prolong its reign by working on the prejudices of the people until wealth is aggregated in the hands of a few, and the republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war." - President Abraham Lincoln

"The death of Lincoln is a disaster for Christendom. I fear that foreign bankers with their craftiness and tortuous tricks will entirely control the exuberant riches of America and use it to corrupt modern civilization. They will not hesitate to plunge the whole world into wars and chaos, in order that they may inherit the earth." - Bismarck

"We the men in this hall, who control the economic destiny of the Nation, knew in 1927 that this terrible depression was coming, and we did nothing about it." - President of the American Bankers Association, speaking at their convention, in 1931

"The Government, under the Constitution, has the power to create all the money. It issues both money and bonds, and sells the bonds to the bankers that create deposit money. If banks need the cash to pay the depositors, the Treasury supplies it free. In that way, Congress has farmed out to private bankers the nation’s credit free, and Congress’ power to create money, the greatest and most profitable privilege our Nation had, absolutely free; and of course, unconstitutionally." - Congressman Wright Patman

"It would appear that there could be no subject of more supreme importance to the people of the United States than an understanding of money and its powers. It is remarkable, and a fact of surpassing importance, that the provision of the Constitution of the United States authorizing Congress exclusively to coin money and regulate the value thereof has been overlooked by American statesmen. Their failure to perceive the deep significance of this language of the Constitution has resulted in the indefensible expansion and contraction of money by private persons, bringing on monetary depressions periodically." - Senator Robert L. Owen, “Mr. Owen was chairman of the Senate Banking Committee in 1913, and managed the Federal Reserve Act legislation. It is strange that he, a then ‘statesman,’ overlooked the Constitutional provision that said definitely that Congress could not surrender its powers to a private corporation.” (Source- The Legalized Crime of Banking and a Constitutional Remedy (1958), by Silas Walter Adams)

"We authorize you (our loan agents in the western states) to loan funds on good real estate to fall due not later than September 1, 1894, and at no time thereafter. And on and after that date we will not renew our loans under any consideration. But on September 1, 1894, we will demand our money. We will foreclose and become Mortgagees in possession. We can in this way take two-thirds of the farms west of the Mississippi and thousands of them east of the Mississippi as well, at our own price. We will own three-fourths of the farms of the West and the money of the nation. Then farmers will become tenants as in England." - American Bankers Association, 1891




"One of these days the people of this country are going to rise up in their wrath and compel the change of such an idiotic system that compels our own people to pay tribute to a few who have nothing invested and run no risk, in order to conduct the affairs of our Government, and especially our national defence program. If some person attempts to show how the credit of the Nation is being farmed out free to ‘14,567’ privately owned commercial banks he could be (is) quickly silenced by a whispering campaign that he is a monetary nut, a crackpot, or a greenbacker who wants to flood the country with printing-press money. Then a few references to continental currency, fiat money, and German inflation, and the opposition is dead."
- Congressman Wright Patman, December 1 , 1943
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Old 05-13-2008, 11:14 PM Free_Willy is offline  
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