Shocking Piece Of U.S. History Revealed

[Samm]

I am completely opposed to any gov. agency that is outside the restraints of our checks and balance system and only invites "brown shirt" systematic control and decision making for the people freedom. I am not so stupid that I need the government to protect me from buying something that is a scam. I agree many here are.

"Established by the Dodd-Frank Act, the CFPB's radical design is unique among financial and consumer regulators, including those responsible for consumer and investor protection. Not only does it evade the traditional system of checks and balances championed by James Madison in Federalist #51, it also lacks the internal controls Congress built into other regulatory agencies.

[IMG][/IMG]




As the chart above illustrates, the CFPB escapes congressional budgetary oversight, obtaining its funding directly from the Federal Reserve instead of through the regular appropriations process. This end-run around Congress leaves no check to ensure the CFPB director is spending the people’s money effectively to promote consumer protection, much less efficiently in this time of runaway debt and deficits. In fact, we've already begun to see the result of this lack of oversight in the CFPB's egregious headquarters renovation costs.

Unaccountable to Congress, we see that the CFPB eludes even the power of the president. The bureau's director, once appointed and confirmed, can only be removed by the nation's chief executive for cause. And don't count on the president to enforce spending discipline or regulatory restraint at the CFPB; the bureau is neither subject to the Office of Management and Budget nor the Office of Information and Regulatory Affairs.

The most glaring difference between the CFPB and other regulators in the chart above, however, is the bureau's shocking lack of judicial oversight. Section 1022 of the Dodd-Frank Act provides that where the bureau disagrees with any other agency about the meaning of a provision of a federal consumer financial law, a reviewing court must give deference to the bureau’s view under the Chevron Doctrine.

Unfortunately, the absence of external checks and balances is only half the story at the CFPB.

As the chart below shows, the CFPB is unaccountable even to itself since there is fundamentally no ‘it,’ no ‘they’ – only a he. Be he our credit czar, national nanny or benevolent financial product dictator, the CFPB director's authority is unilateral, unbridled and unparalleled. Without the check of a bipartisan commission, the director can declare virtually any financial product or service as ‘unfair’ or ‘abusive,’ at which point Americans will be denied that product or service even if they need it, understand it and want it.




Finally, the CFPB lacks a dedicated inspector general (IG) to root out waste, fraud and abuse at the bureau. Given the findings by the Housing and Urban Development IG we highlighted last month, taxpayers should be outraged by this complete lack of accountability, oversight and transparency in the way the CFPB spends the people's money.

Defenders of this structure claim it's necessary to guarantee the CFPB's freedom to protect consumers without the influence or interference of politics. Agency independence, however, cannot come at the expense of public accountability.

The bottom line is this: consumer protection is not having powerful government agencies 'nudge' consumers to make 'correct' choices in the belief they are incapable of making rational decisions for themselves. True consumer protection empowers consumers and respects their economic freedoms to make informed choices free from government interference and fiat.
This is an article straight from the Committee on Financial Services.
http://financialservices.house.gov/blog/?postid=356036

[Samm]

Originally Posted by 4-2-7

Your right finn on the actual printing "Physical Currency" brain laps on my part.

However the Federal Reserve has complete control of the amount of currency they want "Printed in "Physical From." The treasury takes marching orders from them. They also have complete control over digital printing that the fed does entirely themselves.

Lets face it the digital form of currency is far greater than any paper printing.

There is only approx. $830,000,000 in actual green backs in circulation China holding the majority since they force exchanges into the Yuan as soon as it enters the country and no other currency is allowed as trade there. China's renminbi is not entered into the world currency system as they have chosen to control the value of their own currency.
Only 3% is in physical "money" the rest is used for trade and manipulation in digital Treasury Bonds.
China crashed their own currency last week to raise the value of the dollar so they could use the remainder of their USD to short sell the Comex at end of month contract roll over time and bust the derivative gamblers.
http://www.investing.com/analysis/th...-scream-204403

[icenine]

What does connately mean?

[Zeke]

Originally Posted by icenine

What does connately mean?

As I see not this word in any relevant post, I am going to presume one of the paradigms of idiocy uttered it?

[merrylander]

Originally Posted by 4-2-7

Economic has history to it, Samm and I have tried to show you that economic and monetary history and you failed to comprehend it.

Oh dear pardon us mere mortals for not bowing and tugging the forelock. Kiddies I have liver spots that are older than you two - and smarter as well.

[merrylander]

The very good reason why the CFPB receives its funding from the Fed is really quite simple - so that it can do its work. For example Congress weeps about the fact that the BATF does not even enforce existing gun laws - and then turns around and cuts its funding just to ensure that it cannot find the manpower to do its job.

[d-ray657]

Originally Posted by 4-2-7

Hay I could care less if someone listens to me or not. I make statements they get ridiculed from relevance to irrelevant it doesn't mater. I can say the sky is blue and this is the case. But don't say I don't know anything about what I may be expressing all the while not showing me you know anything about it.

Then why did you say this:

Originally Posted by 4-2-7

Economic has history to it, Samm and I have tried to show you that economic and monetary history and you failed to comprehend it.

[4-2-7]

Originally Posted by d-ray657

Then why did you say this:

Because like you just did I get questions and I respond. Sometimes there honest questions most lead into a setup to ridicule.

So were are you going with this question?

[d-ray657]

Originally Posted by 4-2-7

Because like you just did I get questions and I respond. Sometimes there honest questions most lead into a setup to ridicule.

So were are you going with this question?

Not ridicule; impeachment. You said that you do not claim to know any more than anyone else. I assert that you regularly claim to have greater knowledge than others, and the quotation was support for my assertion. One can't protest about being an innocent whipping boy when that facts show an agenda-driven presence here. You are fully capable of demonstrating disdain for other posters, particularly when you have an ally to reinforce your position.

In other words, don't try to bullshit a bullshitter.

Regards,

D-Ray.

[BlueStreak]

Originally Posted by d-ray657

Not ridicule; impeachment. You said that you do not claim to know any more than anyone else. I assert that you regularly claim to have greater knowledge than others, and the quotation was support for my assertion. One can't protest about being an innocent whipping boy when that facts show an agenda-driven presence here. You are fully capable of demonstrating disdain for other posters, particularly when you have an ally to reinforce your position.

In other words, don't try to bullshit a professional bullshitter.

Regards,

D-Ray.

Fixed it for you, but with the utmost of respect.

Dave