The President has ZERO power to remove the FED Chairman. After the Chairman's term, the President only gets to appoint one of the guys from the current Board of Governors of the FED or re-appoint the Chairman and it is subject to Senate confirmation. Bernanke's four year term ends in a little over a year. Max time to serve is 14 years or 14 years + any extra the previous Chairman didn't serve of his term.
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fellas, the Fed is not a government institution. read a great book, albeit very long, "secrets of the temple: how the federal reserve runs the country". it is not a loren conspiracy theory book, unfortunately, but does explain how the fed runs this nation's economy with almost no checks and balances in place. even folks that know a ton about the fed will read about specific instances they've given the executive branch options on when to completely screw the nation's economy...now or later? their choice 
great read
sorry gtc, kiln, punter, and 3peet it does not come in "pop-up" form nor is it available on google video yet. yes, you actually have to read it...sorry
maybe check for the cliff notes (if those are still around?...yes, dating myself here)
great read
sorry gtc, kiln, punter, and 3peet it does not come in "pop-up" form nor is it available on google video yet. yes, you actually have to read it...sorry
maybe check for the cliff notes (if those are still around?...yes, dating myself here)
Not much point.
Madoffs firm was audited from 1960 and no-one twigged that it was a giant cash ponzi scheme which had never performed a single financial trade.
:grandmais
The press has kinda avoided that one...
Plus the SEC would have periodically audited his firm as well, and those guys have real power.
Basic conclusion: Until you have the cash in your hands, the entire financial system could be one very big very scary scam.
Madoffs firm was audited from 1960 and no-one twigged that it was a giant cash ponzi scheme which had never performed a single financial trade.
:grandmais
The press has kinda avoided that one...
Plus the SEC would have periodically audited his firm as well, and those guys have real power.
Basic conclusion: Until you have the cash in your hands, the entire financial system could be one very big very scary scam.
bingo!
our entire economy is a madoff like cash ponzi scheme
what happened with madoff eventually too many people wanted to cash out and didn't want to participate anymore and he didn't have enough new fresh blood to keep it going
as far as the overall economic fiat scheme its the same damn thing except you are forced to participate (if you don't pay taxes we throw you in jail)
as long as they still have a willing taxpayer to pay the bills and have a willing global population willing to fund the ever increasing debt by buying treasuries expecting to get paid interest by the taxpayers and people continue to store their fiat in banks, treasuries, CDs, money market funds the beat goes on
but it might not.....
that's why its so important for the fiat creators to backstop the banks, CDs, and money market funds
if those go
up and people lose faith in those....faith in the currency in general will be lost....and the whole ponzi scheme implodes
