The Federal Reserve Just Made a Facebook Page… And It’s Getting Destroyed by Trolls

in funny •  last year

(THEANTIMEDIA) The Federal Reserve bank is well-known for its secrecy. But in an attempt to reach out to the people it claims to serve, the monolithic bank just created a Facebook page . . . and it’s probably really regretting that decision.

Unlike Twitter, where the Fed decides which comments to reply to — and therefore which show up publicly on its page — its public Facebook page, launched Thursday morning, is not as restrictive. In fact, the Board of Governors of the Federal Reserve System page has been relentlessly trolled since it went up.

The Federal Reserve bank was originally crafted largely by bankers, including JPMorgan Chase & Co. It has never been fully audited since the Federal Reserve Act was passed in 1913, yet it enjoys an omnipresent status in the United States. As the Fed’s Facebook page points out, “Over the years, its role in banking and the economy has expanded.”

People have protested the banking institution since it was created, but it remains one of the best-guarded, most opaque institutions in the country.

A congressionally mandated audit by the Government Accountability Office in 2011 found the Fed had loaned out $16 trillion dollars to big banks around the world. As noted by Senator Bernie Sanders at the time, “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”

Sanders’s press release highlighted a more specific conflict of interest:

“For example, the CEO of JPMorgan Chase served on the New York Fed’s board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JPMorgan Chase served as one of the clearing banks for the Fed’s emergency lending programs.”

In 2012, the Federal Reserve earned $80 billion in profits. The gap between rich and poor in America had already grown substantially in the preceding years. At least one official from the St. Louis branch of the bank admitted the Fed’s signature policy of quantitative easing had failed to help the recovery.

Lawmakers like former congressman Ron Paul have long fought to make the Fed more transparent and to hold it accountable. Paul has always challenged its fundamental authority, taking the more extreme stance that rather than auditing the fed, we should end it. Others have stopped short of terminating the bank, but still advocate more openness and vigilance over the private institution.

If the comments on the Fed’s new Facebook page are any indicator, many people harbor similar sentiments.

In response to the Fed’s statement that it helps “make decisions that help promote the health of the U.S. economy and the stability of the U.S. financial system,” one commenter sarcastically asked:

Commenters on other posts hurled further critiques of the Fed. One challenged the popular notion that the bank is a branch of the government (it isn’t, though it was created and granted authority by government).


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Now there is a medium for the people to say their piece about federal reserve. Not that they will listen to any of it, but IT CAN BE A PUNCHING BAG. Popcorn!!

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Popcorn! Upvoted!

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Bring the wine mate!

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It's much better to got beaten in facebook than to be blown by tnt at home)))

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💥 lol

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Oh my nice one! That is exactly how it works. Sad but true. Not getting their greedy mitts on my cryptocurrencies tho!

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Haha, upvoted!

Why ask for donations in other cryptocurrencies? Steem is the future, accept only steem on steemit! SUPPORT THE COMMUNITY! :)

Also, frac the fed.

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There are cryptocurrencies for different use and which are not in competition with each other like Ethereum for example, which is used for smart contracts and dapps (decentralized apps) or golem, which is used as a decentral supercomputer, or siacoin, the next decentralized cloudstorage rental, which costs just a fraction of the amazon cloud
etc.

However Upvoted! :D

This is absolute gold. I wonder how long this site will stay up.

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They made the FB page about 6-9 months ago, this is technicaly old news...

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definitely curious how long until they find that delete button! xD

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Zuckerburg keeps moving it on them:) See? He's not hiding it from us, but from them!

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Not very long, hopefully! upvoted!

Thanks for sharing. Hopefully crypto's will bring down the banks.

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Hopefully! upvoted!

FED is DEAD))))

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But i don't know if it is good in short-term. In long-term all this sh*t must no exist. Hail decentralized communities and free-cities.

Ha! I love it, great news!

That's hilarious! Too bad the situation is not funny.

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Well, always take it with humor, upvoted!

upvoted

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Thank you, upvoted!

very funny - is a steemit blog next?

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Thank you, upvoted!

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.activistpost.com/2016/08/federal-reserve-just-made-facebook-page-getting-destroyed-trolls.html

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