Suing the Federal Reserve

[funinspace]

George Gammon is <raising money promising to> suing the federal reserve because...

FIFY <bolded part>

FWIW, Mr. Gammon appears to be Colombian, with many claims of his great financial deeds, but little is factually known. He is joined by Robert Barnes who represented Alex Jones. And Mr. Gammon evidently thinks the Alex Jones loon show Infowars is a good platform to peddle his tripe...

What also I find interesting is at the end of this video he makes the claim initial funds for the legal work ($100,000) was donated and secured within 48 hours. So apparently there are many others who share his point of view.

Apparently, 'apparently' is the word of the day...A Fool And His Money Are Soon Parted

So should the fed be more transparent and held to the letter of the law? What say you?

Sure, but it sounds like they are following the law...

FWIW, reading real financial sources and real books is another way to learn information, rather than a couple hour Youtube show...

 

[funinspace]

I think it is quite funny that the Fed provided the tools to help arrest the economic crash... (though truthfully was also part of the reason for it as well) and some people are despondent that the global economy didn't disintegrate into ashes.

You have to understand how free market capitalism works. It depends greatly on bad business going out of business in order to leave room for better firms to survive. If the fed prevents a bad firm from going under (by giving money at zero interest), those firms become the dinosaurs who prevent the better firms from succeeding. And that lowers everyone's standard of living.

You mean like General Motors and US Steel?

 

[Swammerdami]

One general thought occurs to me in connection with this Fed intervention.

The intervention helps the rich; it helps big corporations and their rich stockholders. By lending them huge sums of money, the government has deliberately helped the rich to get richer. Fine. The economy is dependent on these rich corporations and their rich owners. If we allowed harm to come to them, the general economy would suffer, and so would many millions of ordinary Americans.

BUT, ordinary Americans also deserve help, not just the rich. Increasing taxes on the rich and subsidizing ordinary Americans needs to be phrased as pay-back. Biden and the other humans with a precarious hold on Capitol Hill are NOT "taking from the rich" so much as allowing the rich to return some of the largesse they've received, e.g. in the giant bailouts of 2008-2009 and 2020.